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Best Crypto Copy Trading Software – What Excels And Why

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Considering the volatility of digital coins and other factors, the best crypto copy trading software will come handy for serious investors.

After all, cryptocurrency traders should never forget that technology powers the specific investment world they got themselves in.

They should be looking for an effective and efficient software that can facilitate their day-to-day crypto trading.

Likewise, a reliable platform can simplify the crypto trading process, particularly for novice traders.

The best crypto copy trading software could be any of the ones discussed below.

COPYRIGHT_WI: Published on https://washingtonindependent.com/ebv/best-crypto-copy-trading-software/ by Camilo Wood on 2022-08-12T03:45:49.890Z

Watch THIS video before you start copy trading! (Covesting)

What Is Crypto Copy Trading?

Before jumping right into the best crypto copy trading software out there right now, it would be prudent to know first what crypto copy trading is.

Well, remove “crypto” and the term “copy trading” says it all.

That’s according to ForexTime, a Cyprus-based licensed forex broker, which gives a simple explanation on what it is generally about.

For ForexTime:

Copy trading allows you to directly copy the positions taken by another trader.

To expound a bit further, copy trading:

  • permits the trader to copy another trader’s stances in real time
  • provides the trader the freedom to choose how much to invest
A male cryptocurrency trader explains to another trader how crypto copy trading works
A male cryptocurrency trader explains to another trader how crypto copy trading works

As one article from personal finance website CreditDonkeys says:

If they buy, you buy. If they hold, you hold. And if they sell, you sell too.

You simply follow – copy – a trader’s actions.

Which makes copy trading appealing to beginners.

Copy what an expert trader does.

Now add “forex” or “cryptocurrency” to “copy trading,” and you now have a basic understanding of it.

Best Crypto Copy Trading Software

To automatically copy a cryptocurrency trader’s position, you will need software to do that.

As ForexTime mentioned on its website:

Copy trading is one of the easiest ways to use another trader’s expert knowledge.

Software will make it easy for you to copy trade.

Below are the author’s top three candidates for the best crypto copy trading software that you can try:

EToro

This is an investment company founded in January 2007, with headquarters in Cyprus, England, and Israel.

As of March 2022, per Statista, eToro users reached 28.5 million.

In the U.K., it’s the most downloaded online trading app.

It now allows crypto copy trading through its trademarked software called CopyTrader for approximately 60 crypto assets.

Minimum deposit amount:

  • $10 (U.S. and U.K. residents)
  • $10,000 (Israel)
  • $50, $200, $1,000 (for other countries; see the list here)
Crypto copy trading at eToro
Crypto copy trading at eToro

Related fees:

  • no account fee
  • no deposit fee
  • $5 – withdrawal fee
  • $10 per month – inactivity fee (after one year of not logging in to one’s account)

It only supports the eToro crypto exchange.

Still, according to Traders Union, a London-based association of international forex traders, it has “a huge social network of traders.”

Available payment methods:

  • credit card (Diners Club, MasterCard, Visa)
  • Neteller
  • Paypal
  • Skrill
  • UnionPay
  • WebMoney
  • Yandex

The U.K. regulatory body Financial Conduct Authority and the Cyprus Securities and Exchange Commission (CySEC) regulate eToro.

That means your investment and private data at eToro are secured.

The best crypto copy trading software should give traders peace of mind.

PrimeXBT

Founded in 2018, it may still be considered “young” but its clients come from over 150 countries.

Regulated by the Australian Securities & Investments Commission (ASIC), its minimum deposit for crypto copy trading is 0.01 Bitcoin (BTC).

As of this writing, per Currency Matrix, 0.01 BTC is equivalent to $239.4.

Additional info:

  • $545 million trading volume (average per day)
  • maximum leverage: 1,000
  • 12 liquidity providers
  • registration process: less than a minute

PrimeXBT has smaller capital requirements when compared to normal trading.

Recognitions:

1. ADVFN International Financial Awards

  • 2020 Best Platform for Margin Trading
  • ADVFN is a cryptocurrency and financial markets site.

According to Cointelegraph:

PrimeXBT was selected as the winner . . . for its wide range of trading analysis tools, and its special focus on privacy, security, and liquidity.

2. Forex Awards

  • 2019 Best Crypto Trading Mobile App
  • 2019 Best Cryptocurrency and Forex Broker
  • 2019 Best Crypto Trading Platform
Screesnhot of primexbt copy trading webpage
Screesnhot of primexbt copy trading webpage

The best crypto copy trading software could be the one that gets awarded frequently in the business community.

Zignaly

It prides itself for being the “crypto copy trading software with profit sharing.”

And what is Zignaly’s profit sharing?

According to its website, you invest your money into an “experienced” trader’s fund.

When that trader makes a profit, you will get “a proportionate amount.”

As an assurance, Zignaly said:

We endorse traders who have good returns and know how to manage risk.

Basic info (stated below are approximate figures) about Zignaly:

  • 430,000 users
  • manages $120 million worth of assets
  • $5.6 billion trading volume

Zignaly requires no minimum deposit/investment.

About fees:

  • no monthly fees
  • no deposit and withdrawal fees
  • there are network and exchange fees

Supported crypto exchanges:

  • Binance
  • KuCoin

With an interesting profit-sharing structure, could Zignaly be the best crypto copy trading software for you?

Profit sharing illustrated when using Zignaly crypto copy trading software
Profit sharing illustrated when using Zignaly crypto copy trading software

Crypto Copy Trading Bot

In your search for the best crypto copy trading software, you will most likely encounter the term “crypto trading bot.”

The author refers to the definition of “bot” by Cloudflare, an American technology-security company:

A bot is a software application that is programmed to do certain tasks.

Bots run automatically.

They can do crypto trading automatically on your behalf, such as when you’re sleeping or taking a shower.

Four popular crypto trading bots include:

3Commas

Monetize crypto portfolio with 3Commas
Monetize crypto portfolio with 3Commas

Main features of 3Commas:

a. Dashboard

  • allows multiple accounts
  • monitor your Profit and Loss (PnL) here

b. Rebalancer

  • use to rebalance account
  • use any coin allocation to create portfolios

c. Options Bots

  • gives “automated strategies”
  • they help you when trading options

d. Paper Trading

  • trading sans money
  • risk-free testing of some strategies

e. Signals (copy strategies of traders from here)

f. Smart Cover (helps when selling/buying crypto coins)

The best crypto copy trading software ideally should support several cryptocurrency exchanges.

3Commas supports 18 crypto exchanges.

Price plans (all “commission-free with no hidden charges”):

a. Free Plan ($0; forever)

  • 1 GRID bot, 1 Options bot, 1 DCA bot
  • 1 active SmartTrade

b. Smart ($14.50)

  • 1 GRID bot, 1 Options bot, 1 DCA bot
  • unlimited active SmartTrades

c. Advanced ($24.50)

  • 1 GRID bot, 1 Options bot
  • unlimited DCA bots and active SmartTrades

d. Pro ($49.50) – all unlimited

Note:

  • All plans come with an unlimited scalper terminal.
  • Except for the Free Plan, one can use the paper trading feature in all plans.
  • All prices are per month for annual payments.

Cryptohopper

Cryptohopper as a world-class automated crypto trading bot
Cryptohopper as a world-class automated crypto trading bot

You don’t need coding skills to use its “expert tools.”

As of writing, 631,320 crypto traders are using Cryptohopper.

Some of its main features:

  • AI Trading
  • CryptoTweeter (informs you about crypto news)
  • DCA (lets you know the right moment to trade)
  • Social Trading (guides you how “to trade like a pro”)
  • Strategy Designer (makes trading algorithms)

Price Plans (for annual payments):

a. Pioneer (free; 20 positions)

b. Explorer ($16.58 per month; 80 positions)

c. Adventurer ($41.58/mo.; 200 positions)

d. Hero ($83.25/mo.; 500 positions; “algorithm intelligence”)

Note: Comes with portfolio management and manual trading.

Those two things matter heavily when looking for the best crypto copy trading software.

Kryll

Four current trending strategies at Kryll
Four current trending strategies at Kryll

Kryll boasts of:

  • having traded $4 billion already
  • 280 strategies available for copy trading
  • around 100,000 users

Offers unlimited “backtests” (a way to check the strategies you used) for free.

Three of its most powerful tools:

  • Drag ‘n Drop Editor (free testing and creation of strategies)
  • Marketplace (tried and tested strategies by “senior traders”)
  • Smart Trading (trader calls)

Pionex

Pionex shows a grid trading bot and a line graph
Pionex shows a grid trading bot and a line graph

Basic info about Pionex:

  • approximately 100 million trades daily
  • $5 billion trading volume monthly
  • some of its partners: Binance, Banxa, Coinfirm

It offers 16 built-in trading bots. All for free.

There are 346 crypto coins available for trading. The trading fees: 0.05 percent.

It seems the best crypto copy trading software is the one that comes with the lowest trading fees.

More Options – Best Crypto Copy Trading Platform 2022

The hunt for the best crypto copy trading software can happen while looking into several crypto trading platforms.

A quick take on some of these platforms:

a. Bybit

  • 5 million users
  • 100 assets
  • 100 contracts
  • copy trading: free

b. MoonXBT (launched: 2021)

Per Coin Code Cap:

  • zero deposit fee
  • “low trading fee”
  • “high leverage”
  • “excellent liquidity”

The credit for being the best crypto copy trading software may not go to the new ones, but being new doesn’t mean underperforming.

c. NAGA

  • per Traders Union: “very good and very convenient service for copy trading”
  • per 55Brokers: “reliable,” “great range of trading instruments,” “good” costs, availability of “education and research tools”

d. Tradelize

  • copied trades: around 150,000
  • copy trades from Binance, BitMEX, and Bybit
  • per a CryptoPotato review, it allows a “home trader” to grow into a “mini hedge fund manager”

e. TraderWagon

  • takes “one click” to copy trades
  • low trading costs
  • $100 – minimum investment amount
  • strong security features
Nine traders at TraderWagon, with two already ‘full’
Nine traders at TraderWagon, with two already ‘full’

People Also Ask

Is Copy Trading An Investment?

Yes, it is. You copy the trading practices or strategies of more experienced traders when you make investments.

What Is The Benefit Of Copy Trading?

For beginners, copy trading makes them more confident to invest because they know they will be guided. There’s also a better chance for them to make profits.

Does Binance Have Copy Trading?

Yes. However, you will need a third-party source (e.g., AIVIA or Wall Of Traders) to copy traders.

What Time Of The Day Is Best To Trade Crypto?

According to Forex.com, cryptocurrency trading typically takes place between 8 a.m. and 4 p.m. local time.

So, between those times would be good.

Conclusion

The author discussed the best crypto copy trading software that one may consider having by including some bots and platforms, too.

In cryptocurrency copy trading, the terms “software,” “bots,” and “platforms” are sometimes used interchangeably.

That could be confusing for people not deeply familiar with how these terms are used in the crypto community.

Nevertheless, the author hopes that this article would help readers when choosing the best crypto copy trading software for them.

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About The Authors

Camilo Wood

Camilo Wood - Every day, to make a conscious decision to do something, say something, or act in a way that will improve my work experience. I assist organisations in disrupting the status quo of transition. I teach them how to turn their community from enduring change to evolving through change using a realistic and repeatable structure.

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