How copy trading works
You pick a trader, decide how much to allocate, and the platform opens and closes positions in your account to match theirs, scaled to your allocation. If the trader risks 2% of their account on a trade, you risk roughly 2% of the money you allocated. You can stop copying at any time, and most platforms let you set a copy stop loss that ends the copy if losses reach a level you choose.
Some brokers build copy trading into their own app, as eToro and HFM do. Others connect your account to third party networks such as ZuluTrade, cTrader Copy or the MetaTrader Signals market.
Copy trading brokers compared
| Broker | Copy tools | Minimum to start | Copy fees | Main regulators |
|---|---|---|---|---|
| eToro | CopyTrader | $200 per trader copied | None on top of normal spreads and fees | FCA, CySEC, ASIC, MAS |
| AvaTrade | AvaSocial, DupliTrade, ZuluTrade | $100 (AvaSocial) | No AvaTrade copy commission. Providers may set fees | Central Bank of Ireland, CySEC, ASIC, FSA (Japan) |
| HFM | HFM copy trading, PAMM, MAM | $10 with a Cent account | Performance fee set by the provider | FCA, CySEC, FSCA |
| Pepperstone | CopyTrading by Pepperstone, cTrader Copy, MetaTrader Signals, Signal Start | No fixed minimum in most regions | Depends on the tool and provider | ASIC, FCA, CySEC, BaFin |
| XM | XM Copy Trading | $5 account minimum | Check each provider’s terms | CySEC, ASIC, DFSA, FSC (Belize) |
| IC Markets | ZuluTrade, MetaTrader Signals | No fixed minimum | Set by the signal provider or network | ASIC, CySEC |
| RoboForex | Copy trading (formerly CopyFX) | $10 | Set by each trader | FSC (Belize) |
How we ranked these brokers
We looked at four things: how good and easy to use the copy trading tools are, what copying costs, how strong the regulation is for the company most readers will actually join, and how much you need to get started. Regulation carries a lot of weight, because with copy trading you are trusting both the trader and the broker with your money.
We did not open accounts or copy traders for this guide. The facts come from each broker’s own website and from independent reviews, as listed in our full broker reviews, and were checked in October 2026.
How to choose a trader to copy
- Look at the worst drawdown, not just the return. A trader who made 80% last year but fell 50% along the way can easily do it again.
- Prefer a long track record. At least a year of history, ideally through different market conditions, tells you far more than a great month.
- Check how much risk they take. Use the risk score and look at the leverage and position sizes behind the returns.
- Be wary of very smooth results. Strategies that add to losing trades, such as martingale or grid systems, often look steady for months and then lose a large part of the account at once.
- Spread your money. Copying several traders with different styles reduces the damage if one has a bad run.
- Count the fees. A 20% performance fee on profits makes a real difference to what you keep.
- Set a copy stop loss. Decide in advance how much you are willing to lose on each trader.
Pros and cons of copy trading
Pros:
- You can take part in the market without making every decision yourself
- Watching an experienced trader’s positions is a practical way to learn
- You can spread your money across several strategies at once
- Most platforms let you start with a small amount
Cons:
- Past results do not predict future returns, and good traders have bad years
- You carry the full loss if a trader you copy loses money
- Performance fees and spreads reduce your returns
- Your copied trades can open at slightly different prices from the trader’s
- Leverage magnifies losses, especially with offshore brokers offering 1:1000 or more
Is copy trading legal and safe?
Copy trading is legal in most countries, but how safe it is depends heavily on the broker. Choose a broker regulated by a strong authority such as the FCA, ASIC or CySEC, and check which company your account is actually opened with. Several brokers on this list sign up international clients through offshore companies with much weaker protection. None of these brokers offers forex or CFD copy trading to US residents. See can US citizens trade forex and CFDs for the US rules.
Head to head comparisons: AvaTrade vs eToro, XM vs HFM and RoboForex vs HFM.
Frequently asked questions
What is the best copy trading platform?
For most people it is eToro. Its CopyTrader feature is built into the platform, shows detailed statistics on every trader and charges no extra fee for copying. AvaTrade offers the most copy trading options, and Pepperstone is the best choice for MetaTrader and cTrader users.
How much money do I need to start copy trading?
It depends on the broker. HFM lets you copy from $10 with a Cent account, AvaSocial works from AvaTrade’s $100 minimum and eToro requires at least $200 per trader you copy.
Is copy trading profitable?
It can be, but most retail accounts trading CFDs lose money, and copying does not change that. Your results depend on the traders you choose, the fees you pay and how much risk you take.
Can you lose money copy trading?
Yes. If the trader you copy loses money, so do you, and leverage can make losses large and fast. Only allocate money you can afford to lose, spread it across several traders and use a copy stop loss.
Is copy trading good for beginners?
It can be a useful way to learn, as long as you start small and understand the risks. Beginners are usually better off with a simple, well regulated platform such as eToro than with an offshore broker offering very high leverage.
Does eToro charge for copy trading?
eToro does not charge an extra fee for copying. You pay the same spreads and other fees that apply to the trades being copied.
Comparing two specific brokers? See RoboForex vs HFM.