8 Best Crypto Copy Trading Platforms & Exchanges

The top crypto copy trading platform by our review methodology is Bityard thanks to a fantastic customer support team, reliable fiat onramps, and most importantly, a copy trading marketplace that is vibrant.

Copy trading, in general, is about to become a huge industry, and for good reason. The advent of blockchain technology has led to the introduction of hundreds if not thousands of different innovative new cryptocurrencies and altcoins over the past few years that are in constant flux due to high trading activities on the leading exchanges.

I know, it’s not always easy to dive right into new trading paths, especially not when it comes to picking a reputable crypto copy trading platform. With so many options out there and more coming every day, figuring out which one is right for you can be a daunting task.

That’s why we’re here with our picks of the 8 best crypto copy trading exchanges, complete with in-depth reviews that guide you through all the figures and stats to help you make your choice.

Key takeaways

• The best crypto copy trading platform for 2023 is BitYard
• Crypto copy trading is a way of investing your money by copying already profitable traders
• To get started you first need to sign up with Bityard, make a deposit, then choose a trader to copy

What is crypto copy trading?

Crypto copy trading is a type of investing where you copy the trades of other already profitable traders. This works by connecting two traders where one is the performing trader and the other is the copy trader. Once a trader is copied, all his trades will be mirrored on the other account, automatically.

This can be a great way to earn a passive income by investing your savings and also a helpful way to learn from more experienced investors on how to make profits without having to do all the research yourself.

Copy trading is quickly becoming one of the most popular crypto day trading strategies and the fact that traders keep improving their results to attract investors, the demand for good traders is steadily increasing.

There are two components to each successful copy trade:

• The copy trader = You
• The performing trader = The trader who is doing the actual trading

As a copy trader, you rely purely on the performance of the trader you are copying, for both profits and losses. When the trader makes a profit, you profit as well and share a part of your winnings with the trader.

The percentage of how much you divide between each other varies from platform to platform and you can also decide how much capital to allocate to each trader. In theory, you could copy as many traders as you would like with a very small stake. It is also possible to stop copying a trader whenever your want.

There are a number of different platforms that offer crypto copy trading services and most of them are either crypto day trading exchanges or CFD platforms. These platforms typically allow investors to connect with other traders through a marketplace where all the stats of the different traders are highlighted. The platform will make money by taking a small commission on each trade that is made.

Investors can choose which trader to copy based on a number of factors, such as their success rate, the amount of money they have invested, and the types of assets they trade. It is important to remember that there is always risk involved in any type of investment, and so investors should never invest more than they can afford to lose.

Top 8 Crypto Copy Trading Platforms Reviewed

Bityard – Best crypto copy trading platform overall

Bityard is a derivative and crypto copy trading platform that offers a fantastic resource for both investors and performing traders. The platform is easy to use and offers a range of features that copy traders need, making it a great choice for those who are just starting out or have some skin in the game.

The marketplace on Bityard is one of the most active places to find new traders or to promote yourself as a trader. Since the exchange boomed in 2020 the influx of new traders trying to make their way to the top has more than tripled. Traders are constantly battling to be seen among the top traders which is a good thing for investors looking to invest their money.

Bityard is regulated in three different jurisdictions making it a very safe platform to use and through the account security settings page, you can add a 2fa-verification code to further secure your holdings. The platform also has a strong customer support team that can help answer any questions you may have over the live chat.

Overall, Bityard is a great choice for those interested in copy trading thanks to the movement of traders on the exchange, low fees, a crypto trading app, and a demo account if you want to test Bityard before going live.

Bityard also has a fiat onramp system which makes it easy for you buy bitcoin cheap on the platform and then trade these coins for any other favorite altcoin you might want to invest in.

Bitget

Bitget is a rather new copy trading platform for crypto but looks very promising thanks to being regulated in the United States, Canada, and Australia. These are three large countries with a big focus on the cryptocurrency community and this says a lot about what kind of company is behind Bitget.

Bitget is also a derivatives crypto exchange that offers margin trading but they have taken a big step into the copy trading world and have created a top-notch copy trading interface that has a great filter for:

• Ranking
• Followers
• ROI
• P&L
• P&L of copiers
• AUM

Overall, I think the team behind Bitget has good experience and has tried to step into the shoes of both the investor wants and the performing trader wants.

The standard taker fee on Bitget is 0.10% which is in line with the industry average, not higher or lower.

When copying on Bitget, it’s important to remember that you’re investing in other people’s trading strategies, and on a new platform there are going to be a lot of new traders trying to make a following by pushing hard during bullish trends.

As such, it’s important to do your research and choose who you copy carefully, don’t jump at the first trader just because you see a monthly ROI of +133%. Big numbers like this usually don’t last in the long run, aim for stability.

BingX

BingX is a new social crypto exchange that allows users to earn a passive income through Bitcoin and other cryptocurrencies by copying the trades of other users. The platform is designed to be simple and easy to use so that even those who are not familiar with crypto trading can get started in no time.

The reason why I have chosen to add BingX to the list of the best crypto copy trading platforms in 2023 is because of security reasons. I believe that BingX will become a trusted name in the industry just by looking at the government watchdogs that have licensed the platform.

BingX is currently regulated by:

• FinCEN – United States
• FINTRAC – Canada
• MEAC – Estonia
• AUSTRAC – Australia

These regulations and licenses cover most of the major continents and are a pretty impressive track record for such a young business.

Now, when you copy trade on BingX, you are essentially following the trading activity of another user in real-time. You can choose to copy all of their trades or only certain trades that fit your investment strategy and you can change or swap your asset allocation at any time.

Here are some of the top benefits of copy trading on BingX:

1. You can learn from experienced traders
2. You can earn passive income without having to trade yourself
3. It is convenient to trade through the mobile app
4. You can set your own parameters for copying trades
5. You can stop copying trades at any time

Overall, I highly recommend giving BingX a try considering that the transaction fee in the derivatives pit is only 0.04% making it a perfect place for active traders who move a lot of size or trade very frequently.

Prime XBT

If you’re looking for a top-rated crypto copy trading platform, Prime XBT is a great option. It offers a wide range of tools to help you trade successfully, including advanced multi-charts, high security, fast order execution, and a user-friendly interface.

Prime XBT also has very low fees. The taker fee on the platform is currently set at 0.05% which makes it the second cheapest exchange in our list.

Prime XBT is a bitcoin-based trading platform that offers copy trading features based on Bitcoin contracts. This means that all contracts on the platform are denominated in BTC.

I think the marketplace is built well and I like how they have added the rating and the number of active days that the trader has traded. This gives a good indication of how dedicated each trader is, something that could help you decide on who to copy.

Prime XBT offers standard fiat payment methods for crypto such as Visa, Mastercard, and Bank transfers. However, if you already know bitcoin you can send it straight away to your personal crypto wallet.

It is worth mentioning that Prime XBT is regulated in Australia by the government body ASIC.

WunderTrading

WunderTrading has multiple features that make it a valuable tool for cryptocurrency traders, especially copy traders. Most crypto-enthusiasts probably know WunderTrading from its algorithmic trading bots that can be connected to the most popular exchanges on the market.

However, the copy interface is dead simple and is probably one of the easier sites to navigate among the other top candidates.

So how does copy trading work on WunderTrading?

First, you begin by signing up with your email address and making your deposit. From here, choose which trader you want to copy. Finally, WunderTrading will automatically copy the trades of your chosen trader, and you’ll be able to follow the performance live in real-time.

There are many benefits to using WunderTrading, including:

1. You can start trading with very little capital
2. No prior trading experience is needed
3. You can view the trader’s statistics before copying
4. You can use a trading bot at the same time to maximize your efforts
5. Profits can be withdrawn at any time

Wundertrading also has one of the most competitive fee structures of any crypto copy trading platform. For placing trades on the platform, you are charged a 0.10% taker fee and a 0.00% maker fee. There are also no fees for deposits or withdrawals.

A great addition to the slew of features is the stop loss order they offer. This stop loss crypto exchange will protect your downside risk at all times and this is a tool that many copy traders use.

Decoin

Decoin is a copy trading platform that offers live-streamed sessions with expert traders on the platform. This is a completely new concept but it looks very promising. The platform is still in its early stages, but it has already garnered a lot of attention from the crypto community.

If there are no active live sessions, you can go back and watch some of the recorded sessions where one of their trading experts trades the market and interact with the chat.

Through the copy interface, you can see the statistics of each trader such as the preferred contract they trade, and the profit chart for the last month, and there is also a quick comment written by the trader that gives you a short bio of the person who is in control.

What I found interesting about Decoin is that the performing trader can set different profit share ratios such as 75% for you, 5% for the platform, and 20% for the trader.

This is great because some traders can benefit from having many smaller followers or aim to get a few large investors to share profits.

Something that is lacking on Decoin is a live chat with a real human representative to answer your questions. Other than that there is not much to complain about.

Decoin has a fiat onramp that accepts Visa, Mastercard, and Bank transfers that accepts various methods such as SWIFT and SEPA.

Cryptohopper

Cryptohopper is a copy-trading platform that enables users to trade cryptocurrency automatically with great flexibility. The service was launched in August 2017 by two brothers Ruud and Pim Feltkamp. Cryptohopper has since grown to become one of the most popular automated ai crypto trading platforms, with thousands and thousands of registered users from all over the world.

The platform’s key feature is its automated trading bots, which can be configured to trade on behalf of the user 24/7. Cryptohopper also offers a number of other useful features, including a state-of-the-art copy trading platform, backtesting, paper trading, portfolio management, and more.

Cryptohopper is a web-based platform that can be accessed from any internet-connected device such as your laptop, tablet, or your smartphone. The platform is easy to use and very intuitive. Even users with no prior experience in crypto trading will be able to get started quickly and easily.

One of the great things about Cryptohopper is that it offers a free trial period of 7 days. This enables users to test out the platform and its features without having to commit to a paid subscription plan.

As a brand, Cryptohopper is probably one of the more recognized names in the industry and this is a great reason for selecting this platform for those who have had issues with security in the past.

When I reviewed the platform initially, the support team was ontop of their game offering instant live chat answers to all users that are logged in. You might not appreciate how valuable this is but by talking to a human agent you can get instant answers without going crazy searching for answers in the FAQ section.

ByBit

ByBit is one of the most popular crypto copy trading platforms, globally, with a community of over 100,000 traders. One of the main advantages of using ByBit is that it allows users to trade margin contracts. Margin contracts offer leverage which can be used to multiply profits when the market goes in your direction. Keep in mind though, leverage has the same effect on losses so be careful with who you copy.

Another big advantage of ByBit is that it has low fees. The platform charges a 0.075% taker fee and there is a rebate of -0.025% when you use a maker order type such as a limit order.

The platform has a leaderboard that ranks the top traders on the platform, based on their success over the past month. This leaderboard can be a valuable resource for those looking for good traders to copy and you can filter between ranking, 3-week win rate, 7-day win rate, and 7-day follower profit.

The 7-day follow profit metric is the best metric to look for to see how much the investors are making that are copying a certain trader. Look for a trader with a good 7-day follow metric as it will increase your chances of picking a skilled person.

The ByBit copy trade interface is very clear and easy to read. I like how they have added the number of followers to each top trader so you can see who has gained the biggest following in the past month.

ByBit might be at the bottom of our top list of crypto exchanges that offer copy trading but don’t get discouraged, the reason for the low rating is due to a lack of regulation. As a brand and it is among the top names in the crypto community but I highly recommend that you add all the security features if you choose to trade on this platform.

How to get started with crypto copy trading

Now, to get started on a crypto copy exchange it doesn’t require much more paperwork than on a standard exchange like Coinbase.

They will ask you to send in your KYC documents which is a good thing because it keeps your account personal and in the case of theft or loss of account details, only you can retrieve the account with your own personal information.

Here is a short step-by-step guide on how to set up an account and copy your first trader.

1. Choose a platform from the list at the top of this guide
2. Sign up with your email or mobile phone
3. Active 2fa-verification through the account security page
4. Make a deposit with cryptocurrency or through a fiat onramp (credit card/bank transfer)
5. When your account is funded, seek out the marketplace and look for a trader to copy
6. When you find a trader with a good track record, click Copy.

That’s it. From now on, as long as you don’t cancel the trader, you will mirror all his or her trades with a proportional amount of your account balance.

For example, if a trader opens a position worth $2000, which would represent 10% of their portfolio, you will only open a position that is worth 20% of your portfolio.

So, if your account is worth $800, that would translate into a position of $160 and not $2000. This is good to keep in mind for future operations as trades are always mirrored in percentage.

How to choose a crypto copy trading platform

When choosing a crypto copy trading platform, there are several factors you should take into account.

The first factor to consider is the fees charged by the platform. Some platforms charge a percentage of your trades while others charge a flat fee. Make sure to compare the fees charged by different platforms before you make your decision.

Another important factor to consider is the selection of assets offered by the platform. If you want to trade a specific cryptocurrency, make sure that the platform offers that currency. Some platforms only offer a limited selection of currencies, so it is important to check this before you sign up.

Here are 8 factors I recommend that you check before joining any platform:

1. Does the platform offer trade cancelation at any time?
2. Can you select how much of your portfolio to invest in each trader?
3. Is the platform regulated or licensed by the local government?
4. Can you buy crypto with fiat or do you need to send cryptocurrency to your wallet?
5. How many traders are active on the exchange?
6. How many metrics can you filter between such as profitability, number of followers, ROI, 7-day followers, etc?
7. Does the platform have a mobile app for copy traders?
8. What is the minimum amount you need to invest?

It is important to consider the security of the platform. Make sure that the platform uses secure methods to protect your personal and financial information. You should also check to see if the platform has been hacked in the past.

Finally, you should read reviews of the platform before you decide to use it. See how other users have reviewed the platform. Through our reviews, you will be able to see what our team thought about each specific platform which is very helpful information. This will help you get an idea of what to expect when using the platform.

Things to consider if you are a beginner

If you are a beginner in the world of cryptocurrency trading, then there are some things that you will need to consider before choosing a copy trading platform.

You need to have a serious approach to this and spend some time testing different platforms and researching some of the top traders on each exchange to find what you are looking for.

Check the difference between the revenue share of each platform as there are some platforms that have higher rates. This is most likely because they have a higher quality among their traders. I strongly recommend quality above quantity.

It is well worth the time to test out traders with a small amount of capital before you go all in and trust one trader with your full portfolio.

Also, some traders will choose to trade with leverage and you need to figure out whether you are comfortable with this or not. Leverage increases the earnings potential drastically through borrowed capital but can also cause much larger drawdowns to your capital.

I would also recommend using a platform that has a mobile application for its copy trading interface. This lets you follow your performance on the go and in the case of a market crash or a large correction you can anticipate the coming losses by closing out all your trades.

How to choose the best crypto trader to copy

When it comes to copying other traders there is no one-size-fits-all answer to the question of who is the best trader to copy and to be honest it might take some time before you find your perfect match.

Different traders have different strengths and weaknesses, so it is important to find a trader that aligns with your own trading style and goals.

That said, there are a few general things to look for when choosing a crypto trader to copy.

Firstly, you want to find a trader with a good track record that is longer than just a month or two. Look for someone who has consistently made profits over a long period of time.

Secondly, you want to find a trader who trades frequently and is up to date with the market moves. Traders who are not active every day will lose their edge and might be prone to make more mistakes.

Finally, you want to find a trader who communicates well and is transparent about their trades. This is good because you will start to understand the rationale behind each trade which can teach you a lot about how to tackle the markets and give you new angles to see the price action.

Ultimately, the best crypto trader to copy is the one that has a similar approach to trading as you do. If you are a heavy scalper you want to find someone with a very short-term horizon to learn from. You will get much more experience from looking at someone who is trading your coin with the same strategy.

Pros and cons

There are several benefits to copy trading in cryptocurrency markets.

• Diversification – copy trading can help you to diversify your portfolio. By copying the trades of other traders, you can gain exposure to a variety of different assets and strategies. This can help you to reduce your overall risk.
• Timesaver – copy trading can help you to save time. Instead of spending hours researching different trades, you can simply copy the trades of other traders. This can free up your time so that you can focus on other things.
• Learn from professionals – copy trading can help you to access expert knowledge. By copying the trades of experienced traders, you can tap into their knowledge and expertise. This can help you to improve your own trading skills over time.
• It’s free of charge – it is completely free to sign up on an exchange and start copying other traders. This is something that most traders look past when they see this opportunity. Think about how much it would cost to hire a personal trader who handles your crypto holdings. Yes, there is a revenue share in terms of profits and losses but there is no downpayment to get started.

Overall, using a crypto copy trading platform has a number of benefits that make it an attractive option for many investors.

And of course, there are a few drawbacks to using a crypto copy trading platform that you should be aware of.

• Less control – One drawback is that you may not have as much control over your trades as you would if you were trading on your own. With copy trading, you are trusting the trade decisions of another trader. This means that you may not always know why a trade was made, or whether it was made with your best interests in mind.
• Profits could be smaller – Another drawback is that you may not make as much money as you could if you were a successful trader yourself. This is because you will only earn a percentage of the profits made by the trader you are copying. If the trader you are copying is not successful, then you will not make any money either.
• It can be risky – copy trading can be risky, as there is always the possibility that the trader you are copying will lose money. If this happens, you could lose money too.

Despite these drawbacks, crypto copy trading can still be a useful tool for those who want to get started in trading without having to put in all the work themselves. It can also be helpful for experienced traders who want to diversify their portfolios and take on less risk.

Frequently asked questions

Final words – Is it worth it?

Yes, crypto copy trading is worth it, as long as you can make the time to research the different traders at the top. It offers a lot of advantages, such as convenience, flexibility, and affordability.

What makes copy trading stand out compared to other ways of investing your money is that you don’t have to worry about the complicated technical aspects actually trading the markets. All you need to do is choose a reputable platform and copy the trades of successful traders.

It is also very flexible. You can set your own rules and limits, and you can stop at any time. For example, you can decide how much money you want to invest per trade, and you can also choose when to exit a trade.

Another advantage of crypto copy trading is that it is affordable. Most operators only charge a trade fee and then on top of that you are sharing a portion of your profits with the trader doing the work.

So, in conclusion, I think it’s worth trying out. It is a new way of managing your crypto finances and it can be highly profitable once you find a professional that knows how to trade.