Are you one of those who doesn’t know much about the crypto market but still wanna get good returns? Then, try out the copy-trading feature of crypto exchanges platforms and gain some knowledge as well as profits. This article on “4 Best Copy Trading Platforms in Germany” will give you a glimpse of all the suitable platforms to start your copy-trading career.
Table of Contents
Summary
| Platform | Registered Year | Headquarters | Cryptocurrencies supported/ exchanges | Mobile Application |
|---|---|---|---|---|
| BYDFI | 2019 | Singapore | 43 cryptocurrencies and 100+ trading pairs | Available for Android and iOS |
| eToro | 2007 | Israel | 100+ cryptocurrencies | Available for Android and iOS |
| BingX | 2018 | Singapore | 100+ crypto pairs and 30+ crypto assets | Available for Android and iOS |
| NAGA | 2015 | Cyprus | Over 40 popular cryptocurrencies | Available for Android and iOS |
What is Copy Trading?
Copy trading is basically a practice of opting for traders to follow who have more experience and a relatively high success rate and then copying their trades. Copy traders just need to go through a copy trading platform and choose the traders of their choice to start following their copy trading strategies and trades. It’s like an opportunity for novice traders to access all the strategies and techniques developed by those who have already proven themselves successful in the crypto market. Further, this means that your skills no longer limit your success.
Why do beginners prefer copy trading?
Copy-trading helps enable beginners to copy the positions opened by professional traders automatically. In addition, they also pay professional traders a percentage of their total profit or a monthly fee. Further, this helps the professional traders to gain some extra profit and gives beginners a chance to learn more about trading.
Copy-trading directly allows beginners to learn from those successful traders and develop all the skills that are needed for trading. Besides, it can even help professional traders to gain knowledge of the assets they might not have earlier experienced.
Also read, 6 Best Copy Trading Apps in India [Important]
BYDFI: 1st Best Copy Trading Platforms in Germany
What is BYDFI?
BYDFI is a crypto exchange platform that allows users to trade cryptocurrencies online. The exchange is Singapore-based and has a network of more than 150 countries. Further, it enables traders to trade, being independent of their country. The platform provides its traders with access to the crypto market via CFDs, Future contracts, and spot. Moreover, BYDFI trading aims to provide the opportunity to traders all around the globe to trade their assets with ease, which comes under the concept of “complex contract simple trade.”
Also read, BYDFI Copy Trading – An Ultimate Guide
BYDFI: Features
- The platform offers a quick and smooth sign-up process, taking only 30 seconds to set up an account.
- 258 USDT welcome bonus is provided to the users who set up an account on BYDFI just to encourage them to trade.
- The platform offers one of the most diverse copy-trading platforms and further provides a user-friendly and straightforward interface for beginners.
- BYDFI sorts all the traders based on their profit rates and provides all the copy-traders with an opportunity to choose from the best trader of their interest.
- Traders can participate in BYDFI’s daily mining to receive a random amount of crypto assets as a reward for them.
- BYDFI supports multiple languages such as Bahasa, English, Portuguese, etc. It also supports light and dark modes.
- Furthermore, the platform also provides its users with a mobile application if they are unable to use the desktop version.
BYDFI: Fee Structure
Spot Trading:
The fee structure for spot trading corresponds to two different execution types: Maker and Taker.
- Maker’s Fee for all spot trading pairs = 0.1% to 0.3%
- Taker’s Fee for all spot trading pairs = 0.1% to 0.3%
Convert:
- The transaction fee to convert crypto is 0.1% to 0.15%
CFD(Contract For Difference):
- Current BYDFI transaction fee is = 0.075% to 0.05%
- Opening fee= Margin * Leverage * 0.05%
- Closing fee = Margin * Leverage * 0.05%
- BYDFI will pre-deduct opening and closing transaction fee of 0.1% when opening a position and will no longer charge it when closing a position.
Overnight Fee:
- Overnight Fee= Margin * Leverage * 0.05% * Overnight Days
Derivatives:
- Opening Fee = Margin * Leverage * 0.025%
- Closing Fee = Margin * Leverage * 0.025%
BYDFI: Pros and Cons
| Pros | Cons |
|---|---|
| There is no slippage cost. | The platform does not possess an insurance fund. |
| It is an easy to use and simple platform. | There is limited support for cryptocurrencies. |
| They have an affiliate program with a 40% commission on all trading fees. | At present the withdrawal options are limited. |
| 258 USDT of welcome bonus is provided to new users. | |
| The trading fee is low. | |
| They have got licensed by four different country regulations. |
eToro: 2nd Best Copy Trading Platforms in Germany
What is eToro?
eToro, is one of the best crypto copy trading platforms that was established in the year 2007. The platform lets all traders trade in top financial instruments, including a wide selection of stocks. It also provides Crypto CFD trading for Ethereum, Bitcoin, Bitcoin Cash, Ripple, and over 100+ cryptocurrencies with an option to go 100x leverage. Moreover, eToro makes portfolio management and regular news updates much easier.
Furthermore, one of the main advantages of being a social CFD trading platform is that if novice traders want to copy successful crypto CFD traders, then eToro facilitates that too through the CopyPortfolio option.
eToro: Features
- Smart portfolios provided by eToro help traders believe in thematic investment strategies, offering diversified exposure to the market segments that will shape your life.
- It is a trusted platform and has more than 25 million investors from over 100 countries.
- Various authorities regulate the platform all around the world.
- eToro is all about making investing accessible and easier, and with its minimum deposits and low fees, stock investing is something everyone can do.
- The platform gives investors and traders access to more than 2000 different financial assets, including commodities, currencies, indices, ETFs, stocks, and cryptocurrencies.
- On eToro, you pay 0% commission whenever you open a long, non-leveraged position on stock or ETF.
- eToro copy trading provides many benefits to the traders.
- eToro provides its traders with free insurance of up to 1 million GBP/AUD/ Euro.
- Moreover, with eToro, your funds are safe as they are kept in a separate account.
- Further, the platform follows strict regulations of various financial authorities such as CySec(Cyprus), GFSC(Gibraltar), FINRA(USA), ASIC(Australia), and FCA(UK).
eToro: Fee Structure
- eToro does not charge any deposit fee.
- The fee structure of eToro is such that it demands a withdrawal, commission, and an inactivity fee. The withdrawal fee is quite low at only $5, and the minimum withdrawal amount should be $30. Further, the inactivity fee charged is $10/month when the user has no login activity after 12 months.
- The rollover fee(overnight/weekend) fees that is charged by the platform change from time to time based on global market conditions.
- The overnight fees are charged every night between Monday and Friday at 17:00 EST for open CFD positions.
eToro: Pros and Cons
| Pros | Cons |
|---|---|
| Easy and simple to use platform. | There is a withdrawal fee of $5. |
| The platform supports different payment methods like Bank transfers, credit cards, and Skrill. | Reasonably comprehensive spreads. |
| There are a variety of cryptocurrencies. | The withdrawal process in eToro is a little slow. |
| Due to its vast number of users, it is now a social trading arena. | |
| Traders can access more than 2000 different financial assets. | |
| The platform also provides its traders with smart portfolios. | |
| Moreover, traders can make diversified portfolios from the 17 most popular coins available on the platform. |
BingX: 3rd Best Copy Trading Platforms in Germany
What is BingX?
BingX is an innovative, unique crypto social trading platform that allows you to connect with successful traders to bring the best possible results to all your investments. The platform came into the crypto world in the year 2018 and offered copy, spot, and derivatives trading services to over 100 countries. Moreover, BingX supports 100+ crypto pairs and 30+ crypto assets. Apart from this the platform also provides traders with automatic copy trading, global indices, forex, commodities, and other contract trading products.
BingX: Features
- The platform allows its traders to connect with some of the elite traders and discover more innovative strategies.
- BingX is one of those few derivatives that offers its traders automatic copy trading.
- The platform offers a mobile application that can be directly downloaded from the website by scanning the QR code or you can even go through the App Store or Play Store, as it is available for both iOS and Android.
- BingX does not charge any fee to deposit cryptocurrencies to the platform.
- The platform offers several payment methods such as cryptocurrencies, Banxa, Debit or Credit Card, MoonPay, and Apple Pay.
- New account holders get virtual-based coins that are approx 100,000 VSD tokens. They can use these tokens on the platform without making an actual deposit.
- BingX copy-trading option gives a chnace to novice traders to earn some profit by just copying the strategies of successful traders. Moreover, traders who novice traders copy the trade from also get 8% of the total profit generated.
BingX: Fee Structure
The fee structure of BingX is such that the trading fee for opening and closing a position is 0.075%. Therefore, in order to calculate the trading fee, there is a need to multiply 0.075% with the trade volume. Moreover, the platform does not charge traders any deposit fee. Furthermore, the withdrawal fee that is charged to transfer ETH to BTC off the exchange is 0.0007 ETH and 0.0005 BTC, respectively. Also, the stable coin withdrawal fee on BingX is as high as 28 USD per transaction.
BingX: Pros and Cons
| Pros | Cons |
|---|---|
| The BingX community helps traders search for their ideal traders. | In exchange for their strategies and trades, professional traders only get 8% of the total profit. |
| The trading data related to all the traders are completely transparent. | Followers can lose some money if the trader’s strategy is unsuccessful. |
| BingX allows you to trade even if you don’t have much or only have a little knowledge of copy trading. | Customer support service is not that good. |
| The platform supports 100+ crypto pairs and 30+ crypto assets. | US traders are not allowed. |
| BingX provides users with a mobile application available for both Android and iOS. | |
| There are several payment options available on BingX. |
NAGA: 4th Best Copy Trading Platforms in Germany
What is NAGA?
NAGA is a leading multi-asset neo-broker that is powered by a social network. They started their journey in the crypto market in the year 2015, and since then, they have come a long way. They combine retail investing on 1000 markets, payment apps, and cryptocurrency serving over 1 million accounts in 100 countries. The platform’s main aim is to become the home-screen app for finance for the customers of tomorrow.
Therefore, investing, cryptocurrencies and payments are the three core pillars of NAGA. Moreover, since 2015 NAGA has come through many things such as Autocopy, Series A investment ($15 M), crypto exchange and wallet launch, record-breaking profitability reports, $25B monthly traded volume, and lastly, the NAGA Pay. Furthermore, they firmly believe that innovation, convenience, and trust are essential for their client’s happiness and success.
NAGA: Features
- NAGA lets you trade global markets like Stocks, Forex, Crypto, and ETFs. You can trade with real-time execution.
- There are over 40 popular cryptocurrencies to trade with leverage or buy via a secure and easy-to-use wallet.
- You can save more than 50% on trading fees when using NAGA Coin($NGC).
- Traders can now see their transactions, check their balances and manage their accounts with just one app. Make payments, invest, send money to friends, or copy trader, all from your smartphone.
- NAGA lets traders dive into stock trading with a 0% commission.
- The platform keeps your funds safe and instantly available.
- The platform provides traders with copy trading options to spy on and copy the best traders who have mastered their trading strategies among thousands of traders at NAGA. Further, mirror their trades, strategies, and activities with just one click.
- Moreover, with NAGA traders, you can invest in more than 500 stocks with just €0.99 per trade.
- Furthermore, the platform accepts many payment methods such as Visa card, MasterCard, maestro card, Skrill, Neteller, and Giropay.
NAGA: Fee Structure
NAGA trading fee structure is pure transparent pricing without any hidden fees. Moreover, there are monthly billings and annual billings. So, if you plan to choose annual billing, you’ll save approximately 20% on the bill amount. The plans are as follows:
- NAGA Basic: This plan costs you about 1.15€ per month and will include a trading account with 950+ assets, a crypto wallet, and copy trading. Apart from this, you will get a free Debit card and Local POS payments. However, transfer to the trading account will cost you 0.12€, and SEPA transfer will cost you 0.50€.
- NAGA Premium: This plan will cost you 5.99€ per month if you opt for monthly payments, and if you are opting for annual payments, this will cost you 4.99€ per month. The premium plan will come with similar features as they are there in the basic plan. However, the transfer to the trading account and SEPA transfers are free here.
NAGA: Pros and Cons
| Pros | Cons |
|---|---|
| There is no fees or commissions on deposits. | Withdraw fees may apply. |
| NAGA mobile app is free for Android and iOS users. Moreover, you will get instant access to global payments, stock trading, copy trading, and a virtual card. | The platform primarily offers CFDs which are high-risk instruments with no asset ownership. |
| The platform allows you to trade stock CFDs, ETFs, Forex, cryptocurrencies, and more. | |
| NAGA lets traders invest in more than 500 stocks with just €0.99 per trade. | |
| It has over 950 tradable assets and markets. | |
| The platform is fully EU-regulated and is a licensed broker. | |
| It has low fees and transparent pricing. |
Conclusion
There are many copy-trading platforms available in the cryptocurrency market, and all of them offer great features. But the ones listed above surely stand out from all of them as they have great features and an intuitive app, great payments methods, auto trading, a number of cryptocurrencies, and many such things.
In our opinion, BYDFI or BingX might be the best choice for an average crypto investor who wants to trade and earn returns on his funds with minimal work.
Frequently Asked Questions
What is copy trading in Forex?
Copy-trading in Forex simply means that it is a way of making currency trades without the need of having extensive experience as a trader yourself. Instead, the main idea behind copy-trading was to utilize other traders’ expertise and experience in order to copy the positions they have opened.
How to choose your copy trading platform?
There are a variety of websites offering the copy-trading feature. However, choosing one from them is a challenging task to do. So, the first thing you should do is go to more established and more prominent websites. The vast number of users of a copy trading website indicates that it has more significant popularity. Moreover, it also indicates that the platform has a broad user base, and you can trust them.
What are the advantages of Copy-trading?
Copy-trading might have many rules, but the truth is that copy-trading is neither a complicated practice nor it is a tough one to understand. Therefore, this is the reason why it became so popular in the first place.
In addition to this, there are a few more advantages such as you can save your time as you will be just copying from professional traders, you will learn a lot of techniques and strategies from professionals, and importantly you are the only one in charge of your trades.
Also read,
