Copy trading enables traders to automatically copy positions that are managed and opened by professional traders. This feature lets you gain profit from the experience of others. Hence, we have handpicked some of the best copy trading platforms in the Philippines in this article to help you to choose the right platform for you.
Table of Contents
|Platforms||Registered Year||Profit distribution||Exchange Fees||Available cryptocurrencies exchanges||Mobile Application|
|BYDFI||2019||8-10% of net profit||None||43 cryptocurrencies and 100+ crypto trading pairs||Available for Android and iOS|
|BingX||2018||8% of net profit||0.75%||100+ crypto pairs and 30+ crypto assets||Available for Android and iOS|
|Gate.io||2013||5% of net profit||None||500+ cryptocurrencies and tokens||Available for Android and iOS|
What is Copy Trading?
Copy-trading also popularly known as social trading is a simple way to automate your trading by simply copying the trades of other successful traders. Copy trading is often used by novice traders who might not know how to trade. Hence, for more experienced traders, it can help them to step away from their screen if they want to, as all the trades are automated. Furthermore, there are a wide variety of platforms that offer copy trading services, and while some of them are manual, others are fully automated.
What are the advantages of copy trading?
There are a lot of advantages of copy trading, and some of them are stated below:
- It allows first-time or novice traders to familiarize themselves with the crypto market and gain the confidence to trade.
- It helps beginners to learn how to trade by following and watching the actions of other successful traders.
- It enables experienced traders to take part in the crypto market even when they are too busy and are not able to invest much time and research they should normally devote to trading.
- It creates a community of different traders where they can exchange their copy trading strategies and ideas.
BYDFI: 1st Best Copy Trading Platforms in the Philippines
What is BYDFI?
BYDFI is among the world’s widely known and leading cryptocurrency exchanges. The exchange laid its roots in the crypto market in 2019 and is headquartered in Singapore, which is considered an Asian Technology Capital. It offers fast, safe, and easy cryptocurrency asset trading services in around 150 countries.
The business philosophy of BYDFI is quite simple as it states, “complex contracts simple trade”. Hence, it aims to simplify the complex crypto trading experience for its users by offering them several trading tools for their benefit. Furthermore, the website of BYDFI has been translated into eight different languages to help its users from different parts of the world.
Also read, BYDFI Review: Is it Safe or Legit?
BYDFI: Key Features
- The platform offers a welcome bonus of up to 258 USDT in order to attract new users to BYDFI. Moreover, once a new user is registered to the platform, they can earn free Bitcoin, Tron, Ethereum, and other major cryptocurrencies.
- BYDFI provides a reduction in trading fees if you use BYDFI coin (BYD). You can also get a chance to earn extra crypto.
- It has a low minimum deposit amount of 5 USDT.
- The platform provides access to the global crypto market through spot trading, CFDs, and copy trading.
- It has an intuitive, simple, and user-friendly interface, which helps beginners to find their way out with the BYDFI trading website.
- Moreover, the platform offers its traders leverage trading of up to 125x on crypto and about 200x leverage on derivatives while trading on BYDFI in various cryptocurrencies.
- Furthermore, there are online courses on investing and finance that will help traders learn more about the platform.
Also read, BYDFI Copy Trading – An Ultimate Guide
BYDFI: Ease of Use
BYDFI has a user-friendly and straightforward interface. The platform’s trading interface is well-equipped with functionalities and features and has a pleasant user interface. BYDFI makes sure that its users are not intimidated by the platform. Moreover, to make it easier and more manageable for the users, they also provide their users with mobile applications compatible with both iOS and Android users.
BYDFI: Customer Support
BYDFI offers its traders 24*7 customer care service to provide guidance and support. Traders here can easily get in touch with the BYDFI team through several mediums such as social media, email, and a live support bot. Moreover, traders can also navigate through the FAQ section that they provide to find answers to some of the commonly asked questions. Furthermore, if you are still not able to find something, then you may go through their help center, where you will find support articles and guides related to the platform.
BingX: 2nd Best Copy Trading Platforms in the Philippines
What is BingX?
BingX is a well-known social trading platform that offers cryptocurrency spot and derivatives trading services. BingX made its way into the crypto market in the year 2018 and is based in Singapore. One of those few derivatives offers its traders automatic copy trading. Moreover, the platform is committed to giving users access to crypto trading strategies and also ensuring that users invest in an engaging, transparent, and simple way. Furthermore, BingX trading also provides forex, commodities, an automatic trading function, global indices, and other contract trading products.
BingX: Key Features
- BingX traders can trade with 100+ crypto pairs and 30+ crypto assets using BTC or USDT as collateral.
- The platform helps in connecting users with elite traders and further helps them discover more innovative and interesting investing strategies.
- The platform charges no deposit fees in order to deposit cryptocurrencies.
- There are many payment methods offered by the platform such as Apple Pay, Banxa, Credit Card, Debit Card, cryptocurrencies, and MoonPay.
- BingX crypto exchange is registered under the Republic of ESTONIA and has an MSB or Money Services Business license under FinCen.
- You can trade cryptocurrencies here in just one click with the ‘Exchange’ option.
- Moreover, the platform offers traders copy-trading, where you can follow and copy trading strategies of professional traders and gain profits.
Also read, MoonXBT Vs Bitget Vs BingX: Copy Trading
BingX: Ease of use
BingX comes with an interface that is much similar to all the other websites and crypto exchanges that are available in the market. They also have trading view charts that are fully customizable. Further, it has a mobile application that is similar to its desktop version, which might even be better and easier to navigate.
The interface there is very aesthetic and overwhelming as everything fits so comfortably. Moreover, the mobile app enables you to add a Face ID which is always a great feature to have. Hence, the platform provides a good experience for beginners and advanced traders.
BingX: Customer Support
BingX customer support service is excellent and ready to help you 24*7. They are always willing to answer all the questions and resolve any issues you might face with the platform. Further, if the issue is not yet resolved and the trader is facing any problem, they can contact their customer service at [email protected]. Moreover, traders can directly contact their customer support service via the live chat option for prompt assistance.
Gate.io: 3rd Best copy trading platforms in the Philippines
What is Gate.io?
Gate.io is a popularly known and one of the earliest crypto-to-crypto exchanges from China. The platform was rebranded to Gate.io in the year 2017 and since then it is one of the fastest-growing crypto platforms with numerous cryptocurrencies, margin trading with leverage, a leading Initial Exchange Offering(IEO) platform, and some other advanced financial services like borrowing or margin lending.
In addition to this, the platform’s availability is almost worldwide except for a few places like North Korea, Syria, New York State, Pakistan, Iran, Cuba, Venezuela, Washington State, and Crimea. However, the team that is behind Gate.io is unknown. Furthermore, Gate.io exchange serves the crypto community with over 367 markets, including some major ones like BTC, ETH, CNYX, USDT, and time-limited markets.
Gate.io: Key Features
- Gate.io provides all the traders comprehensive protection with some tight security and law funds.
- The platform has an instant deposit and withdrawal service. Along with it, Gate.io is an established exchange with cutting-edge technology as it also offers an efficient, intuitive, and convenient trading system.
- Gate.io aims at providing you with the best trading experience with their constant exploration of innovative technologies.
- It is one of the largest and also the earliest cryptocurrency exchanges, so it always complies with all the regulations. Moreover, it has never allowed for crypto market manipulation.
- The platform tries its best to be open, transparent, and cooperative.
- There are 20+ fiat currencies with which you can buy and sell cryptos instantly using a Credit card, Debit card, and also using Bank Transfers.
- Moreover, they provide you with a copy trading feature along with a variety of quantitative strategies.
Gate.io: Ease of use
Everyone nowadays gives importance to simplicity and interface. They want to use an understandable and intuitive platform, especially for such crypto exchanges. Hence, the interface Gate.io provides its traders is relatively easy to navigate.
Moreover, there are a variety of features that might make you feel overwhelmed. Furthermore, traders can easily access various options like margin trading, perpetual contracts trading, financial services, l.E.O. platform, borrowing, or wallets overview from the main menu.
Gate.io: Customer Support
Gate.io offers its traders an efficient customer support service. They also provide them with different facilities to help traders, like the live chat feature. There is a FAQ section through which traders can go through if they have any queries regarding the platform. Moreover, the help center also holds many articles explaining all the methods to resolve many other queries. If it’s still not helpful, you may directly contact them through email. Furthermore, they provide all the facilities 24*7 to their users so that they don’t have to worry about the time zone before getting in touch with the support team.
The above-mentioned copy trading platforms might have some of the same features. However, if you want to become a copy trader, you should only focus on the platforms to receive the highest and best profit distribution. Moreover, you should always make sure that the platform is transparent and offers more tools and features. Hope this article, “4 Best copy trading platforms in the Philippines,” will have given you a gist of these platforms.
Frequently Asked Questions
How to start copy-trading?
The first thing that the trader should do is choose the best copy trading exchange platform that meets all your needs. Then you may choose the demo trading option if the platform provides one and practice, or you can also deposit money into a live account. Choose an elite trader from whom you want to copy trades and make sure he has a good trading history and number of followers.
How to find the best trader to copy trades?
There are various factors that one should consider while making a choice for a trader and those are:
1. You should first find the right moment to copy a trader.
2. Risk rating should always be considered.
3. Check out their earnings and drawdowns.
4. Consistency is the key in copy trading. So, make sure to check the trader’s history.
5. Check the number of followers they have.
Also read, CoinCodeCap Launches Copy Trading Service for Investors
What are the risks related to copy trading?
Nothing comes without risk, and copy-trading also comes with some risk factors like all other trading forms. Losses can occur in a variety of ways in copy trading, and some of those factors can be:
1. If you are not managing your copy trading investments properly.
2. The trader you follow might have made a mistake, and you copied the same trade.
3. You might have followed the wrong trader. If so, you should make attempts to change your trader.