Looking for the best crypto copy trading platforms to streamline your crypto investments? Copy trading has emerged as a popular strategy for newcomers and seasoned traders alike, allowing users to mimic the trades of successful investors automatically.

With numerous platforms flooding the market, selecting the right one can be daunting. In this article, we’ll dive into the top contenders for crypto copy trading, exploring their features, benefits, and potential drawbacks to help you make informed choices.

Best Social Trading Platforms in 2024

To get started with a social trading cryptocurrency account right now — you will likely want to consider one of the four best crypto trading platforms outlined below.

  1. NAGA Cryptocurrency Copy Trading Platform With a Great Reputation
  2. ZuluTrade Copy Proven Crypto Traders in a User-Friendly Environment
  3. Pionex Cryptocurrency Exchange With In-Built Trading Bot
  4. Coinmatics Copy Crypto Trading Strategies Like-for-Like

What Is Crypto Trading?

Crypto copy trading involves replicating the trading strategies of successful investors in the cryptocurrency market. It enables users to automatically imitate the trades executed by expert traders and potentially benefit from their expertise and market insights.

Through designated copy trading software, investors can connect their accounts to those of experienced traders, whose transactions are replicated in real-time. This strategy appeals to both novice and experienced traders seeking to diversify their portfolios or leverage the expertise of others without actively managing their investments. Crypto copy trading offers a hands-off approach to investing, allowing users to participate in the market with minimal effort.

Best Crypto Copy Trading Platforms Reviewed

To find the best crypto copy trading app for your requirements, you will need to do some independent research.

Important points of interest should include the specific social and copy trading tools on offer, alongside the applicable fees and minimum deposits. You’ll also want to choose a platform that has plenty of traffic and a sufficient number of verified traders.

in the sections below, we review the four best crypto social trading platforms.

1. NAGA — Cryptocurrency Copy Trading Platform With a Great Reputation 

The best social trading cryptocurrency platform on our list is NAGA.

To get started with this platform, NAGA requires a minimum first-time deposit of just €10, alongside a copy of your government-issued ID. With that said, if you wish to engage with cryptocurrency copy trading, then you will need to invest at least €250 per investor that you follow.

NAGA enables you to choose a suitable trader based on a range of important metrics. This includes the trader’s profit and loss since joining NAGA, number of positions, and monthly win rate. Once you have chosen a trader to copy and determine your investment stake, all future positions will be mirrored in your account until you decide otherwise.

In terms of social features, NAGA enables you to search for and engage with other users of the platform. You can start conversations and reply to threads at any given time. We should make it clear that we had to do some digging to find out what fees NAGA charges for its copy trading service. Nonetheless, this social trading cryptocurrency platform charges €0.99 for every trade that your chosen investor places on your behalf.

To get money into your NAGA account, you can choose from a debit/credit card or an e-wallet like Neteller or Skrill.  If you decide to engage in DIY trading, then you will also have access to CFDs. This allows you to trade the future value of the best cryptocurrencies and other asset classes with leverage. NAGA is not available in the US or the UK.

Pros

  • Reputable copy trading platform
  • Social features allow you to engage with other users

Cons

  • 5% commission taken on all trades that yield a profit of €10 or more
  • €0.99 commission every time a position is copied
  • Not available in the US or the UK
  • Fees are not clearly visible

2. ZuluTrade — Copy Proven Crypto Traders in a User-Friendly Environment

The next provider to consider from our list of the best crypto copy trading platforms is Zulutrade. For those wishing to trade on a DIY basis, Zulutrade is home to a wide range of markets. In addition to cryptocurrencies, this is inclusive of stocks, indices, commodities, and forex.

With that said, cryptocurrency markets are somewhat thin on the ground, with just 13 pairs.  Nonetheless, when it comes to its social trading cryptocurrency tools, ZuluTrade gives you the option of copying other members of the site.

You can narrow your search down in various ways, such as the trader’s average monthly profit since joining the platform and how many people are copying the individual. You can also elect to invest in combo portfolios.

zulutrade copy trading review

These are pre-packaged portfolios that contain a variety of individual strategies and trading systems. Once again, you can view the ROI on each combo portfolio to help you make an informed decision. In terms of fees, just like NAGA, we had to dig deep to find out what copy trading charges are in place.

Nevertheless, we found that fees depend on the type of account that you open. Classic accounts come with no monthly fees, and you will not pay any commission to utilize the copy trading tool. On the other hand, profit-sharing accounts are charged at $30 per month. Moreover, you will pay a profit-sharing commission on any successful trades generated when copying other investors.

Pros

  • Supports crypto, stocks, indices, forex, and commodities
  • Strong proponent of passive investment tools
  • Classic accounts come without fees

Cons

  • Not overly transparent on fees
  • A limited number of successful traders on the platform
  • Only 13 crypto pairs supported
  • Profit-sharing accounts are charged at $30 per month

3. Pionex — Cryptocurrency Exchange With In-Built Trading Bot

Primarily, Pionex is a cryptocurrency exchange that enables you to buy, sell, and trade a variety of digital currencies. In fact, the platform is home to nearly 350 digital assets, so you will never be short of investment opportunities.

We like the fact that when buying and selling digital currencies here, you will only pay a commission of 0.05%. This is one of the cheapest pricing structures in this market. However, we should make it clear that Pionex does not offer conventional copy trading tools.

Moreover, there is no option to engage with other users of the platform in a social setting. With that said, Pionex does make our list of suitable platforms because it supports built-in trading bots.

pionex review

This means that you can still use the platform to trade crypto passively. In total, there are 16 trading bots to choose from – each of which takes a different strategy across a variety of risk and reward targets. What we also like about Pionex is that trading bots are fully customizable, so you can set your parameters to mirror your trading objectives.

For example, you can elect to buy and sell a cryptocurrency pair when an upper or lower price target is met. On the other hand, Pionex is far from suitable for beginners who simply want to engage in a passive crypto copy trading strategy. In fact, unless you have some prior knowledge of core trading principles, this platform will be somewhat useless for your skillset.

Pros

  • 16 in-built bot strategies
  • Customize your bot to meet your personal trading goals
  • 350 cryptocurrencies supported

Cons

  • Not suitable for beginners
  • No copy trading tools
  • Unable to socialize with other members of the platform
  • Regulatory standing remains to be seen

4. Coinmatics — Copy Crypto Trading Strategies Like-for-Like

In a similar nature to Pionex, Coinmatics does not allow you to copy individual traders like ZuluTrade. You can, however, utilize this platform to copy specific trading strategies. Moreover, it is important to note that Coinmatics itself does not facilitate buy and sell orders.

On the contrary, you will need to connect Coinmatics with an exchange account via an API. As of writing, just four exchanges are supported — Binance, OKEx, Bybit, and FTX.

The latter two will suit those of you who wish to access leveraged markets. Once you have connected your exchange account to Coinmatics, you will then need to choose the best strategy for your financial goals and risk tolerance.

Coinmatics review

To do this effectively, you can look at the metrics surrounding the specific system, preferred markets, risk rating, and more. It should be noted that Coinmatics offers a variety of plans to choose from. There is a free plan, but this will limit you to a total trade size of $2,500.

Once this amount is met, then you will need to upgrade to a paid-for account. The premium account, for example, will cost you $20 per month and comes with no trading limits.

Pros

  • Choose a trading strategy to copy
  • No fees on the first $2,500 traded

Cons

  • Does not allow you to copy other traders – strategies only
  • No social trading tools
  • Does not directly facilitate buy and sell orders
  • Just four exchanges supported

Trade Copying Software Compared

Platform Copy Trading Tools Social Trading Fees for Copy Trading
NAGA Copy hundreds of traders Yes $0.99 per trade + 5% commission on profitable trades above $10
Zulutrade Copy other investors, combo boxes No Free for classic account, $30 per month on profit-sharing accounts
Pionex 16 built-in copy trading strategies No 0.05% per slide commission
Coinmatics Copy trading bot No $20 per month

Which Trader Is Best for Copy Trading?

On the one hand, it’s great that social trading cryptocurrency platforms give you access to thousands of verified investors, all of which can be copied like-for-like.

However, this can make it somewhat time-consuming to know which traders to copy.

If you’re looking for some inspiration, below we list the five best crypto traders to copy.

1. Yass9000

Although Yass9000 likes to diversify across a range of assets, including stocks and ETFs, the vast bulk of buy and sell orders are placed on cryptocurrencies.

This copy trader first joined the platform in 2017, so we’ve got plenty of data to go on. After a somewhat rocky start, Yass9000 took off in 2020, when the individual ended the year with a profit of 85%.

2021 was even more fruitful for the trader, with annual gains of 187%. Yass9000 has been slightly more conservative in 2022, with a slight loss of 2% as of April 2022.

2. MaxwellV

If you’re looking to copy a trader who takes a long-term approach to investing — look no further than MaxwellV. This New Zealand-based trader has an average position duration of over 13 months.

The trader is just over 40% in cryptocurrency, with the balance split between stocks and commodities. When it comes to the past performance, MaxwellV generated returns of 68% in 2021. In the prior year, gains were more modest at 21%.

3. Cristiangaunag

Next up on our list of the best crypto traders to copy is Cristiangaunag. This Argentina-based trader has allocated 40% of his portfolio to cryptocurrency, with the majority of the balance focused on stocks.

With an average trade duration of three months, Cristiangaunag likes to take a medium-term approach to investing. He carries a relatively modest risk rating of 5. In 2020, the trader made gains of 14%. The following year, annual returns were higher at 26%.

4. MikeShishov

MikeShishov is based in Latvia and has a split portfolio between cryptocurrency, stocks, and ETFs. During his first year on the platform, MikeShishov made a huge loss of 56%.

However, since then, MikeShishov has generated returns of 43% and 45% in 2020 and 2021, respectively. MikeShishov has a low-risk rating of 4.

5. Arnaud95300

This active trader made returns of over 280% in his first year.

With a risk rating of just 4 and a maximum yearly drawdown of 7.4%, this trader likes to take a conservative approach to investing. Arnaud95300 is only 25% in crypto as of writing, with the rest split between other copy traders and stocks.

How Profitable Is Copy Trading?

Asking whether or not crypto copy trading is profitable is perhaps no different from enquiring about the possibilities of making money from the stock markets. After all, your ability to make money is dependent on the trader(s) that you decide to copy.

  • For example, if you copy a trader that makes 80% throughout 2022, then you will also make 80% proportionate to the amount you originally invested.
  • However, if your chosen trader makes an annual loss of 20%, you will also lose 20%.

This is why you need to spend time researching the ins and outs of a trader before you decide to invest any money. Moreover, it’s also a good idea to think about diversifying across several different traders – rather than putting all of your eggs into one basket.

Copy Trading vs Social Trading

While they sound similar, these concepts have fairly different approaches to a similar use case:

  • Social trading emphasizes community interaction, discussion, and sharing of trading ideas among users.
  • Copy trading involves automatically replicating the trades of successful investors, requiring minimal active involvement from users beyond selecting traders to copy.

Yes, copy trading is legal in most jurisdictions, although regulations surrounding it may vary. It’s essential for users to conduct thorough research on the legalities and regulations pertaining to copy trading in their specific region.

Additionally, users should ensure they are using reputable and regulated copy trading platforms to mitigate any potential legal risks associated with the activity. Overall, while copy trading itself is legal, users must adhere to relevant financial regulations and exercise caution when engaging in this form of investment.

Conclusion

These best crypto copy trading platforms are revolutionary in the cryptocurrency investment scene. Not only can you interact and share insights with other traders, but you can now invest passively by mirroring the positions of an experienced pro.

To get started with the best social trading app right now, you can open a NAGA account in a matter of minutes.

FAQs

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