Copy trading is an extremely popular trading strategy that allows you to reap substantial profits even if you’re not too experienced yet. Basically, you just look at the deals made by expert traders and repeat them to get similar returns. There are many online platforms that feature some copy trading options in the UK, but you should choose them wisely to avoid losing money. In this article, we tell you about the top 5 copy trading platforms operating in the UK, judging by security and overall conditions.
eToro
Founded in 2007, eToro is probably the most widely-known broker with copy trading options, and it’s a basic choice for the majority of novice traders. The platform aims to make the process as user-friendly and simple as possible by ranking available experts based on their return rate and active followers, so you don’t have to analyze anything, just pick whoever you like. eToro is known to be heavily regulated and very secure, and you can definitely trust it with your money.
AvaTrade
AvaSocial by AvaTrade is another very useful copy trading service. While it doesn’t have many expert traders, you can easily choose the right one for you and start following. Just pay some attention to the performance of your preferred traders: check out maximum drawdowns to find the most stable ones in order to avoid risking your funds. You can also specify a custom drawdown limit that will interrupt copy trading in case something goes wrong.
FXTM
FXTM is one of the most popular copy trading UK platforms. It’s notably user-friendly: the platform just provides you with a list of strategy suppliers ranked by their performance, skills, and other aspects. All you have to do is pick one of them, and the system will do the rest.
Pepperstone
This broker has a copy trading platform that’s very novice-friendly. All you have to do is sign up, go to the Strategies section of the main menu, and choose a strategy provider from the list. Each strategy is accompanied with a convenient chart showing its performance over time, and there are also filters for you to rank traders.
FBS
User-friendly and secure, FBS is another great choice for novice copy traders. The platform offers you about 600 different managers to choose from, and you can compare them in real time to find the best one for you. The system also allows you to analyze traders by their performance and stability and look for them using search options.