Copy Trading Platforms
LiteForex (LiteForex.com) is an international ECN Forex broker. Trade a wide range of markets on Metatrader 4 or 5. LiteForex accepts a wide range of deposit methods, including Bitcoin, Monero and other cryptos.
- Risk warning: 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
- Regulators: CySEC
- Incorporated: 2005
AvaTrade (AvaTrade.com) is an award winning online broker. Access a wide range of markets spanning Forex, crypto-currencies, shares, metals and more on competitive spreads.
- Risk warning: 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulators: Australia, BVI, Ireland, Japan, South Africa, UAE
- Incorporated: 2006
Buy shares outright or trade CFDs on shares, indices, Forex, cryptocurrencies (including DOGE coin) and more*. Connect with over 6 million other investors, follow or copy their trades in real-time on eToro.com.
- Risk warning: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
- Markets: NA
- Platforms: Copy trading
- Regulators: Australia, CySEC, UK
- Incorporated: 2007
Start trading in 40 seconds, with no prior KYC or compliance checks, with PrimeXBT.com. PrimeXBT's trading platform was voted "Best Platform for Margin Trading" in the 2020 ADVFN International Finance Awards.
- Markets: Forex (CFD), Cryptos (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
- Platforms: Copy trading, Mirror trading
- Regulators: None
- Incorporated: 2018
eToro vs. LiteForex
eToro is one of the first and largest social trading platforms. It allows you to connect with over 8 million active users, and was voted "Best Social Trading Network" as early as 2011 in the World Finance awards. Read our eToro Copy Trading guide for a detailed review. LiteForex, an award-winning ECN broker, only recently launched it’s own copy trading platform.
eToro provides a comprehensive view of each trader's performance history and appetite for risk, helping you make an informed copy decision:
- Performance: expressed as the percentage change in a trader's equity, adjusted for deposits and withdrawals. This metric is calculated across all trades, including open trades, inline with industry standards. This presents a fairer picture of a trader's underlying performance. When performance is only calculated across closed trades, this can encourage some to delay closing loss-making positions in order to artificially inflate their metrics.
- Risk: a number on a scale of 1 to 10, where 1 means very low risk and 10 means extreme risk. eToro's risk calculations follow industry standards and consider a trader's choice of instruments, leverage as well as the percentage of equity invested in a single instrument.
- Trading: each user's trading card shows a high-level overview of his trading history and investment style, as well as his or her most frequently traded instruments.
LiteForex provides a more detailed view of each trader's trading history, however, we find that its measures of performance and risk are lacking.
- Performance: ignores changes in equity brought about by deposits and withdrawals. However, as it is only calculated across closed trades, it fails to capture unrealized losses across open positions. Disappointingly, profitability is calculated as a Dollar amount from the moment the trader created his account and cannot be expressed in percentage terms over different timeframes.
- Risk: LiteForex does not provide a measure of risk.
- Trading: a detailed view of the trader's order book, as well as a breakdown of buy and sell orders across instruments since account opening.
eToro and LiteForex provide very different approaches to copying other investors' trades:
- eToro (eToro.com): copy all trades (including open positions), or just new trades. From that moment onwards, your account will mirror the trader's activity, including changes in stop losses and take profits, and the closure of the trade itself. You can close a copied trade manually at any time, without ending the copy relationship. You decide, upon copying an investor, what proportion of your account's equity to commit towards that relationship. However, eToro prevents you from investing more than 20% of your account's equity in any one relationship to protect you from unforeseen losses.
- LiteForex (LiteForex.com): only allows you to copy new trades going forward. However, it provides more flexibility than eToro with regards to order sizes. For example, you can choose to replicate a trader's positions on a one-for-one basis, investing exactly as many lots of the chosen trader, which has the potential to significantly increase your exposure. Alternatively, you can copy fixed amounts or express them in relative terms.
Copy trading platforms will reward you when you share your trading activity with others and build a following:
- eToro (eToro.com): earn 100% rebates on all your trades as well as 2% of your followers' Assets Under Management through eToro's Popular Investor Program. These earnings, which are in addition to your own trading profits, are credited monthly to your account and available for withdrawal.
- LiteForex (LiteForex.com): earn a percentage of your followers' profits. Interestingly, you are able to set the commission freely. You may open more than one account to accomodate different trading strategies, and adjust your commission accordingly.
On balance, we feel that eToro provides a superior copy trading experience. Its user profiles provide a fairer view of each trader's performance because they measure profitability across all trades, including open positions. Its risk management tools also provide a more granular level of control and sensible default settings shield even new investors from rookie mistakes.
But don't take our word for it, visit eToro.com and LiteForex.com to see for yourself. Note that LiteForex accounts with bonus funds are not eligible for social trading. In contrast, all eToro accounts are eligible.
eToro Risk Warnings
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
Trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant ... MoreTrade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant execution. All EAs are allowed.
- $500 deposit
- 1:200 leverage ?
- 1.71 pips EUR/USD
Trade a wide range of financial instruments with a Shariah compliant account. AvaTrade does not ... MoreTrade a wide range of financial instruments with a Shariah compliant account. AvaTrade does not charge rollover fees or swaps on overnight positions. You cannot invest in crypto-currencies through this account.
- $100 deposit
- 1:400 leverage ?
- 1.9 pips EUR/USD
Trade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with no ... MoreTrade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with no interest or commissions. Open an account online and request an Islamic account from your account manager.
- $1000 deposit
- 1:30 leverage ?
- 3 pips EUR/USD
Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and... MoreTrade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and commodities. AvaTrade accepts all MetaTrader EAs except those with a focus on arbitrage.
- $100 deposit
- 1:400 leverage ?
- 0.6 pips EUR/USD