Best Brokers for Copy Trading Crypto (2023)
There are millions of ways to invest in crypto to earn profits and big bucks. However, is there a way to earn without much hassle? Yes, there is. Imagine you have a platform where you simply have to copy the existing trades and use them at the right time in the market. Isn’t it profitable?
Here’s a list of the 5 Best Brokers for Copy Trading Crypto (2023):
ByBit
On top of the list comes ByBit, an innovative and fast-growing cryptocurrency exchange platform.
eToro
eToro is a clear winner in social trading for newbies and professionals.
Binance
With its highly intuitive interface, you can select the trader you want to choose and analyze your status in just a few clicks.
Gate.io
One of the oldest and fastest-growing crypto-to-crypto exchange platforms is Gate.io.
MEXC
Being widely known as MEXC global, it focuses on low trading fees and does not require any KYC for account opening.
It is exactly what crypto copy-trading offers to its users. With the help of crypto copy-trading, you can diversify your portfolio in just a few steps.
This article will cover the best copy-trading platforms and how you can pick the best one. Continue reading to enter into the world of financial stability.
How Profitable is the Crypto Copy Trading for Beginners?
Before going deep into the main discussion of choosing the best brokers for copy-trading crypto, you should know what copy-trading is all about. Unlike traditional crypto investment, copy-trading offers an entirely simple platform that helps users choose the best market trades.
By observing the increasing demand and use case of digital assets, you might want to try it. But the process seems a bit complex, and you changed your mind. Don’t worry; copy-trading has made it convenient for you to invest and trade. Here are three simple steps that are involved in the crypto copy-trading:
- Choosing the best trader
- Depositing your desired funds
- Get profit on your trades
Thus, copy-trading runs on automation and does the whole trading work for you, so you don’t have to spend hours and hours researching the best brokers. Whether it’s the research, market value evaluation, or price setbacks of the crypto token, copy-trading gives you freedom from all.
1. ByBit
ByBit is an easy to use copy trading crypto platform.
Thomas’ Take
On top of the list comes ByBit, an innovative and fast-growing cryptocurrency exchange platform. Most traders trust this broker because of its easy-to-use and friendly interface. With over 10 million worldwide users, ByBit offers a convenient method to copy trades and earn profit. Being an experienced crypto broker, it automatically initiates new copy trades by looking at the market’s risk/reward parameters.
Moreover, ByBit selects the best copy trading strategies and only takes 10% of the total profit made by the user. In economics, it has a circulating supply of over 1.08 Billion and even more demand in the crypto industry. Thus, you can trust this platform, especially if you’re a beginner in copy-trading.
PROS:
- Supports more than 100 cryptocurrencies
- Offers an all-in-one crypto trading solution
- It has very high leverage of up to 100x
CONS
- Restricted in many countries
- Poor regulations in terms of trading volume
Best For
All-in-one Copy Trading Crypto Platform
Price
FREE or Upgrade to premium
Ease of use
Easy to use
Free Trial
Yes
Our second option is:
2. eToro
eToro offers safe and secure transactions.
Thomas’ Take
eToro is a clear winner in social trading for newbies and professionals. It is considered one of the best crypto copy-trading platforms due to its super functional interface. Connecting the best traders in the market to earning a maximum profit on your trades helps users maximize their portfolios.
The best thing about eToro is it keeps on improving its trading services and has recently added a crypto wallet to facilitate its traders. With this crypto broker, you will be free from all kinds of payment issues, and it supports multiple options for quick and safe transactions. You can use either Paypal, credit card, wire transfer, or your bank account.
PROS
- Best for social trading for newbies
- Provide access to a free demo account
- Offers exceptional customer service and money withdrawal
CONS
- You can only use one currency on your account.
Best For
Safe & Secure
Price
FREE or Upgrade to premium
Ease of use
Simple to use
Free Trial
Yes
3. Binance
Binance is a user-friendly platform for copy trading crypto.
Thomas’ Take
To use copy-trading free of cost and unlimited, Binance is the only best option. With its highly intuitive interface, you can select the trader you want to choose and analyze your status in just a few clicks. All you have to do is connect your Binance account with a suitable broker and estimate its risk factors.
In addition, Binance automatically selects the best trading strategies for you, so you don’t have to spend much time on market evaluation. Finally, with more than $100k in virtual portfolio options available for users, Binance is a secure broker for copy-trading.
PROS
- Easy to sign up and trade
- Support multiple payment options
- Have lucrative staking methods
CONS
- High withdrawal fees
Best For
Intuitive Interface
Price
FREE or Upgrade to premium
Ease of Use
Easy to use
Free Trial
Yes
.
4. Gate.io
Gate.io is an oldest copy trading crypto platform.
Thomas’ Take
One of the oldest and fastest-growing crypto-to-crypto exchange platforms is Gate.io. It offers advanced financial and copy trading services to new investors and eases their investment journey. In addition, you will love its smooth interface, specially designed to help inexperienced traders.
Above all, Gate.io is a powerful broker that does the important tasks of lending and borrowing digital assets. Compared to other crypto copy-trading brokers, it charges medium fees from its holders. Thus, you can blindly trust the functionality of this platform.
PROS
- Supports 180 different coins and 400 cryptocurrencies
- It has a 10x leverage trading rate
- One of the top brokers in terms of security
CONS
- Has less transparency in fiat exchanges
Best For
Support different coins
Price
FREE or Upgrade to premium
Interface
Medium Easy
Free Trial
Yes
5. MEXC
MEXC allows traders to enjoy copy trading crypto with KYC.
Thomas’ Take
For those looking for a safe and legitimate crypto copy-trading broker, MEXC is the only right option. Being widely known as MEXC global, it focuses on low trading fees and does not require any KYC for account opening. The best thing is that the support team is very cooperative and does not require verification.
Plus, MEXC trade your assets in a very professional and autopilot way. Although the deposit fees vary depending on the cryptocurrency, it has flexible payment options for its users. Moreover, you can manage your portfolio in one touch sitting everywhere as it is compatible with all iOS and Android devices.
PROS
- Offers up to 125x leverage
- Provides multilingual support to users
- It does not require any KYC
CONS
- Has limited cryptocurrency purchases
Best For
Low Trading Fees
Price
Depends on Transaction amount
Interface
Super easy
Free Trial
Yes
Final Verdict
Conclusively, crypto copy-trading is undoubtedly a great way to set yourself in the financial world of investment and trading. Copy trading is also safer and more profitable than other trading methods and exchanges.
However, make sure to choose the best broker and deposit in the right way to avoid money losses in the future.
Checkout the Best Crypto Exchanges for Day trading here.
