Best Crypto Copy Trading Platforms

Best Crypto Copy Trading Platforms

Robert McDougall 

December 1, 2022

Cryptocurrency

After trialling out dozens of crypto exchanges, we have compiled our list of the best crypto copy trading exchanges. Scroll down to read about each of these platforms in more detail.

The Top 6 Copy Trading Crypto Platforms in 2022

  1. Bybit: Best crypto copy trading platform overall
  2. MEXC: Huge range of 2,110+ trading pairs
  3. eToro: Best for beginners
  4. Pionex: Crypto exchange with free crypto copy trading bot
  5. Gate.io: Best for huge range of 1,000+ cryptocurrencies
  6. Shrimpy: Crypto portfolio management with copy trading functionality
  7. Kryll: Copy trade any of 280+ verified strategies

Cryptocurrencies were introduced in 2009, but the recent surge in the prices of crypto assets grabbed the attention of many people, piquing their interest in investing and trading. Of course, trading requires extensive research, analysis, time, and attention to evaluate the markets and their movements. If anything goes wrong, you could lose a considerable portion of your equity, and in some cases financial ruin.

Since we live in the era of innovation and solutions, you now have the option to copy trade which is especially useful if you are a new trader, an amateur, or simply someone who wants to trade without any hassles. You can save yourself hours since you eliminate the need to create your own strategy, calculate risks, master different trading markets, and whatnot, as you can simply copy professional traders who take care of everything for you.

What is crypto copy trading?

As the name suggests, copy trading allows users to copy the trades, strategies, and market assessments of professional and experienced traders. This enables any user to make successful trades, even if they have zero experience in trading or the crypto industry. The best thing about copy trading is that you do not have to monitor other traders all the time as everything works on autopilot. You just have to select a particular trader to copy, select the amount you want to trade, and leave it be until you want to cash out your profits or change strategy.

It doesn't matter even if you are a first-timer in the crypto industry, because you can copy trade without any prior knowledge. You don’t have to go through the hassle of learning the basics of trading, spend hours reading the charts every day, or be on social platforms to monitor the market.

What are the benefits of crypto copy trading?

It’s not easy to trade and win in the market if you have not done your homework. Homework includes a lot of time, years of experience, deep research, patience, funds allocation, and much more. This is where crypto copy trading comes in. Let’s check out its benefits!

No knowledge and experience required

This is the whole point of crypto copy trading: it does not require users to have extensive knowledge of countless crypto markets or hands-on experience. Even if you are a total beginner with little to no understanding of how trading works, you can still copy trade and earn a considerable amount.

Time efficient

Crypto copy trading works on an autopilot basis where you simply allocate your investment and sit back and relax. If you have a day job and want to earn money by trading cryptocurrency as a side gig, crypto copy trading will assist you. You only need to take a few minutes out of the day to see how the trader you have copied is performing and if you have made any profits. 

Risk management and trade customizations

Most of the best crypto copy trading platforms allow copy traders to manage the risk efficiently with the adjustment parameters they provide on the copy trading interface. That is where you can set certain limits or even create criteria so that you won’t lose your whole investment in case the trades by the professional trader go sideways.

The best crypto copy trading platforms: Reviews

Read more about the top copy trading crypto platforms in 2022. Investigate each one for yourself to see which is best for your personal needs.

#1. Bybit: Best Crypto Copy Trading Platform Overall

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Bybit is a one-stop cryptocurrency exchange with over 220+ coins, low trading fees, plenty of markets such as spot trading and margin trading, and of course, the option to copy trade. Bybit states that over 150,000 traders have joined their copy trading program, where they explore different professional traders and copy the one with the best history and results.

The best thing about Bybit's crypto copy trading is that the exchange has thousands of copy traders available. You can do your research thoroughly and find the traders that work best for you. To make things even easier, Bybit also provides the option to apply search filters while finding copy traders and choose them according to their 7-day win rate, 3-week win rate, or 7-day profit. Through this option, you can easily determine if the trader has a successful history and if you should invest your money with them.

You also have full control over your trades, and you can customize them exactly how you like. If you want to set any type of parameters, you can do so after selecting a trader to copy. You are able to set your preferred leverage, stop-loss, and other similar settings that could be beneficial for your trades.

Lastly, you can become a principal trader on Bybit if you think you are experienced enough and have a good market understanding. For each copier, you can receive 10% commission for the trades you execute, which can generate a considerable income along with your trading journey.

Pros
  • Massive variety of traders that you can copy
  • Beginner-friendly interface
  • Set your own parameters
  • Autopilot mode with no hassles
  • Live Chat customer support
  • $10 FREE BTC to get started, when you sign up with our link
Cons
  • Not available in the USA

#2. MEXC: Huge Range of 1,500+ Trading Pairs

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MEXC is one of the world's most popular cryptocurrency trading platforms, and the best part is it has the copy trading feature that we are looking for. You can browse the best investors by ROI, Total Profit and Loss, Win Rate, Total Equity, or Number of followers. This means that you can find an appropriate trader to copy, based on whichever metric you find most important. If you know the name of a specific trader that you want to copy, you can also enter that in the Search field.

MEXC offers more than 1,520+ cryptocurrencies, and an impressive range of 2,110+ trading pairs - the most out of any crypto exchange in the world. The trading fees are low at just 0.2% for spot trading, and 0.02/0.06% for futures trading.

There are plenty of other options available on MEXC; if you want to read about them all, check out our in-depth review here. If you want to start copy trading on MEXC, take advantage of our special link here. It will grant you $25 USDT for FREE, as well as 10% discount on all your trading fees.

Pros
  • FREE $25 USDT plus 10% off trading fees
  • Over 1,520+ coins, and 2,110+ trading pairs
  • No KYC required to use MEXC
  • Low fees of 0.2% for spot trading and 0.02% for futures
  • Spot, margin, and futures trading available
Cons
  • Limited cryptocurrencies available for direct purchase using fiat

#3. eToro: Best for Beginner Copy Trading

eToro is undoubtedly one of the most popular and diversified crypto exchanges for crypto beginners. It is a global crypto platform offering its services to almost every country, including the US, and even offers other markets, such as stocks and forex, depending on your location. One of eToro's most popular features is copy trading, as it makes it so easy for newcomers to start investing even when they have no experience or knowledge in the matter. 

It does not matter if you are a beginner or in the learning phase of trading; you can leverage the automatic process of eToro copy trading and earn profits while you relax. eToro claims that copiers were able to grow their portfolio by over 30% in 2021 by copying the platform’s top 50 traders – this is an excellent result. There are no management fees or hidden fees involved in the copy trading offered by eToro. You just have to pay the commission of the principal trader, and you will be good to go.

To get started, simply sign up to eToro and access their copy trading section right away. You will be provided with a comprehensive list of available principal leaders, along with their rankings. You can even check out their win rate in order to evaluate their overall trading skills. You can also set up your own parameters and specify your preferences to keep the risk levels low and not let your trades entirely be dependent on others. One of the unique things and the best parts about copy trading on eToro, is the ability to chat with the principal traders. You can ask them questions, let them know your thoughts, and build up trust before you decide to copy their trades. 

To top it off, eToro offers much more than copy trading. An efficient beginner-friendly interface with an ultra-professional trading layout along with the ability to trade tons of different assets attracts many investors. You can also learn and grow with the resources they have provided and build your own skills to trade. To learn more about eToro, read this comprehensive review.

Pros
  • Choose from a variety of traders, with the option to chat to them
  • Beginner-friendly interface with professional tools included
  • Excellent customer support with educational material
  • Trade crypto, as well as stocks, forex and commodities, depending on your country
  • Social trading platform, so you can interact with others in the eToro community
Cons
  • Limited range of 75 cryptocurrencies
  • Minimum $200 deposit for copy trading

#4. Pionex: Platform With FREE Copy Trading bots 

Pionex is an excellent choice, as it offers more options than the other copy trading platforms. Pionex is unique, in that it has FREE built-in trading bots on the exchange. There are 16 trading bots available at Pionex, including DCA bots, rebalancing bots, and more, so that you can automate your strategy. The best thing is that you can also create your own bots on the platform according to the parameters you wish.

With Pionex, you can copy trade in two ways: 1) copy trade by following successful traders, just like on other copy trading platforms, such as Bybit and eToro, or 2) copy the exact parameters of successful bots, which means you re-create the best bots that are available.

The trading fee at Pionex is very low, at only 0.05% per trade, and they often have zero-fee trading events, where you don't need to pay for your trades. Pionex is an excellent option for copy trading, bot trading, or even manual trading if you prefer.

Pros
  • 16 free built-in trading bots
  • 120+ cryptocurrencies available
  • Copy other people's bots, or copy their manual trades
  • Low trading fees of just 0.05%
  • Easy to use copy trading platform
Cons
  • Copy trading only available on the app, not desktop site

#5. Gate.io: Widest Range of 1,000+ Coins to Copy Trade

Purchasing cryptocurrencies, trading over 1,000+ coins, or copy trading – pretty much everything is available at Gate.io. The exchange can be considered an all-in-one crypto platform where you can explore tons of options and make your trading experience efficient.

The platform has a great variety of principal traders available that you can copy. Each has its own particular fee charged on every trade. All traders also come with their winning rate, total returns, AUM (Assets Under Management), number of trades executed, and the minimum deposit amount. Considering all these aspects, you can select a principal trader to copy, one that you think will perform well and offer you great returns on your investment. 

Gate.io allows copiers to use leverage on their trades and set advanced parameters to save themselves from losing their capital. You can also watch several tutorials available on the platform to understand the copy trading concept fully and see how things are done. The whole process is quite simple and can be used by any beginner on the platform.

The exchange also has an option to go with bot trading, which follows the same concept of automation. Only this time, you have to use your own strategies and market understanding in order to guide the bot accordingly. You can also explore their NFTs market, purchase assets, or trade crypto on the markets.

Pros
  • Tremendous variety of principal traders
  • Use leverage and set your own parameters
  • Over 1,000+ cryptocurrencies available
  • Thorough details and history of principal traders
  • Trading bots available on the platform
Cons
  • Copy trading fees are set by the principal trader, and can be quite high

#6. Shrimpy: Crypto Portfolio Management with Copy Trading

Shrimpy is a crypto portfolio management tool that provides their users with innovative options to manage their overall portfolio and trade in a unique way. Unlike many other crypto copy trading platforms, Shrimpy has a unique diversity in the tools and resources they bring to their traders. For starters, traders can connect all of their supported crypto exchanges and access their coins all in one place.

After the connection, you can automate the whole trading process by either going with the bot trading option or by copying other professional traders. For bot trading, Shrimpy provides a variety of tools that you can use to create your own strategies and implement them on your bot. You can also backtest strategies and monitor your performance for better insights.

For copy trading, Shrimpy has a wide range of professional, experienced, and advanced traders available whose strategies and trades you can copy. You are provided with your own dashboard where you can keep track of the profits and much more. Be it your social trading leader or your own strategy, you always have access to the best monitoring and management tools so that you won’t miss out on anything.

Shrimpy supports over 30 crypto wallets and exchanges that you can connect to the platform and bring your portfolio to a single place. This makes trading easier and allows you to allocate your funds, keeping your total capital in mind.

Pros
  • Connects to more than 30 crypto wallets and exchanges
  • Follow and copy a variety of top traders
  • Crypto trading bots are available
  • Professional dashboard and management tools
Cons
  • Need to pay for monthly/annual plan to access Shrimpy

#7. Kryll: Copy Trade 280+ Verified Strategies

Kryll is not a cryptocurrency exchange, like most of the others on this list of copy trading platforms. Instead, it is a crypto trading bot software, solely focused on automation and efficiency. Kryll provides one of the most advanced and feature-filled strategy editors on the internet. It comes with countless features that can be integrated and implemented with an effortless drag-and-drop mechanism. To get started and gain access to these features, register on the platform by providing your personal information.

After the registration process, you get access to bot strategies that you can opt for right away. Instead of actual traders, Kryll offers more than 280+ verified strategies that users can use to automate their trading experience. Each bot comes with its own success rate along with the pair it is trading. You can take a look at the whole variety of bots, understand their strategy, and start using them as you wish. Kryll has a reasonable pricing structure where they charge 1% of the traded capital from users. 

Pros
  • Over 280+ verified strategies to choose from
  • Drag-and-drop builder for strategy creation
  • Affordable pricing plans
  • Free backtests
  • Responsive, efficient, and secure interface
Cons
  • Not a good choice for beginners, caters more to advanced users

What are the disadvantages or negatives of crypto copy trading?

The simple answer is yes, there are a few risks involved when it comes to crypto copy trading. You can take a quick look below to understand the risks of crypto copy trading.

High volatility and uncertainty

Yes, copy trading seems very easy and profitable, but do remember that cryptocurrencies are well-known for high volatility and instability, and even experienced traders can crumble. Crypto copy trading might not be always profitable for a single trader, so it is better to plan accordingly and diversify your investments with different professional traders. Of course, make sure to check their history and trading style to evaluate the profits you can earn through them.

Copy trading fees

Copy trading does not come free. Every professional trader available on a crypto copy trading platform charges a specific percentage commission or a flat fee for every trade, which makes it more costly for traders. But still, you might find some professional traders offering good deals for a longer term that you can try out and start your copy trading journey with.

Minimum investment amount

While the minimum investment amount for standard spot trading usually starts at $1, for copy trading it usually varies between $50 and $200. You may have to invest a larger chunk of your investments right from the start in order to start copying others.

Summary 

These are the best crypto copy trading platforms available for investors in 2022. The only thing left for you to do is evaluate your own preferences and choose which of the platforms best meets your needs. You can take a look at your budget, check out if you prefer bot trading or to copy professional traders, and assess your skill level. When you have answered all of these questions, pick a platform that has all the benefits that you need.

Of course, crypto copy trading comes with its own risks, so remember to never invest more than you can afford to lose, and speak to a financial advisor before trading. However, if you successfully diversify your portfolio, and opt to copy the best performing traders, you are likely to make some profits.

Is copy trading better than manual trading?

It depends on your skill level, and the time you have to dedicate to trading. If you are a total beginner with no hands-on experience, copy trading is the better option for you. On the other hand, if you have  some experience, know how to analyze markets, and have time to trade, manual trading will likely give you better results.

Is crypto copy trading safe or risky?

Copy trading can be risky due to the highly volatile assets being traded. However, if you opt for traders with excellent success rates and history, and sensibly invest amounts you can afford, you minimise the chance of losing your capital.

How much should you invest in copy trading?

It is always a good idea to start with a lower investment amount, and understand the process better, before moving on to bigger investments.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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