Are you a novice trader looking to earn good profits? Or someone who doesn’t have enough free time, yet wants to make some extra profit from crypto trading? Then it would be best if you tried your hands on copy trading. In this article, titled “5 best Copy Trading Platforms In UK”, we will be going through some of the best copy trading platforms.
Table of Contents
Summary
| Registered Year | Headquarters | Cryptocurrencies supported/ exchanges | Mobile Application | |
| BYDFI | 2019 | Singapore | 43 cryptocurrencies and 100+ trading pairs | Available |
| eToro | 2007 | Israel | 100+ cryptocurrencies | Available |
| Shrimpy | 2018 | California | Supports 30+ exchanges | Not available |
| Wunder Trading | 2018 | Estonia | BTC, ETH, XLM, BNB, XRP, BCH, and LTC, and 14 exchanges | Available |
| BingX | 2018 | Singapore | 100+ crypto pairs and 30+ crypto assets | Available |
What is Copy Trading?
With Copy-trading, traders copy other experts and professional traders as they share their copy trading strategies with traders who follow them. This type of situation is winning for both copy traders and professional traders. Copy traders get trading profits by copying the practices of expert traders, and expert traders receive commissions from trading profits of copy traders.
BYDFI: 1st Best Copy Trading Platform
What is BYDFI?
BYDFI is a well-known crypto derivatives trading platform running since 2014. It also provides access to the global crypto market through copy trading, CFDs, and spot trading.
BYDFI is based in Singapore and has a massive network covering more than 150 countries, and this is why it allows its traders to trade independent of their country. The platform’s simple user interface and beginner’s guide present on their website help users to find their way out with the website. Also, read the BYDFI review.
BYDFI: Features
- To encourage their users, the platform offers a 258 USDT welcome bonus.
- A complete refund warranty is offered to all the traders.
- BYDFI leverage trading offers its traders of up to 200x on derivatives and 125x on crypto while trading on BYDFI in various cryptocurrencies.
- The platform’s website is easy to navigate, making it a smooth and fast experience for customers.
- Moreover, BYDFI also offers online courses on finance and investing to help traders learn more about the platform.
- Users can also register for free to receive personalized alerts about tips, market movements, and notifications of new opportunities to make money online.
Also, read BYDFI Copy Trading – An Ultimate Guide
BYDFI: Fee Structure
Spot handling fees:
- Maker’sMaker’s fee is 0.1%.
- The taker’s fee is 0.1%.
- The conversion fee is 0.1%.
Similarly, for CFDs:
- The transaction fee is adjusted from 0.75% to 0.05%.
- Opening and Closing fee = Margin*Leverage*0.05%.
- When opening a position, BYDFI will charge 0.1%.
For Derivatives:
- Opening and Closing fee = Margin*Leverage*0.025%.
- When opening a position, it charges 0.05%.
BYDFI: Pros and Cons
| Pros | Cons |
| Simple and user-friendly interface. | No insurance fund is available. |
| For technical analysis, several charting tools are available. | Withdrawal options are limited at present on BYDFI. |
| The platform welcomes its users with a bonus of up to 258 USDT. | Supports limited cryptocurrency. |
| The platform has relatively low trading fees. | |
| It has licenses from four different country regulators. | |
| A demo account is available for users to get familiar with all the features. |
eToro: 2nd Best Copy Trading Platform
What is eToro?
eToro is among the world’s leading social trading platforms around the globe. It further aims to revolutionize the way people invest and enhance investors’ financial education.
The platform first came into the picture in January 2007 when three entrepreneurs decided on their mission to make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions. Moreover, you can discuss trading strategies, join the eToro copy trading revolution, use their Copy Trader technology, and can also connect with other traders.
eToro: Features
- Traders can invest in their favorite stocks with 0% commission and fractional shares.
- eToro’s copy trading helps you automatically copy the moves of other professional investors and replicate their actions in real-time.
- The smart platform portfolios help you invest in the future with thematic investment strategies, offering diversified exposure to the market segments that will help shape your lives.
- Various authorities around the world regulate it.
- If you want to trade on eToro, it allows you only to enter the number of assets you would like to buy or sell.
eToro: Fee Structure
The eToro fee structure is quite straightforward. There is no management, deposit fee, markup, ticketing fee, or stamp duty. Instead, the platform charges a transparent and straightforward fee of 1% for buying and selling cryptos. Moreover, eToro charges a low fixed fee for withdrawal, i.e., $5, and the minimum withdrawal amount is $30. Furthermore, the platform also charges an inactivity fee of $10/month if there is no login activity after 12 months.
eToro: Pros and Cons
| Pros | Cons |
| The platform offers a variety of cryptocurrencies. | The platform charges a withdrawal fee of $5. |
| The website is user-friendly and straightforward. | The withdrawal process is a little slow. |
| Copy-trading features are also offered to traders. | |
| A diversified portfolio can be made from the 17 most popular coins that the platform provides. | |
| Due to its vast number of users, it is now a social arena. |
Shrimpy: 3rd Best Copy Trading Platform
Shrimpy is a crypto trading terminal for your personal crypto investments. The application focuses on portfolio tracking, coping strategies from other traders in the social program, and long-term strategy automation. The journey of Shrimpy began in 2018 when they became exhausted with manually tracking and managing traders’ portfolios across exchanges.
Also, read Shrimpy Review | Crypto Trading Bots for Social Portfolio Management
Shrimpy: Features
- Shrimpy is the one place where you can connect all your exchanges and wallets. Moreover, it lets you manage your portfolio through a single portal and monitor the market in real-time.
- You can study trading strategies with their advanced portfolio backtesting.
- You may also use their automated trading that various institutions have trusted for decades to improve performance and reduce risk.
- The platform lets you copy top traders’ strategies and imitate the portfolios of investment funds like Blockchain Capital, Binance Labs, or Coinbase Ventures.
- Shrimpy helps you build a portfolio strategy, monitor the market, and lets you track your performance.
- Furthermore, the platform lets you manage all your crypto portfolios in one place, create dynamic indexes that track the DeFi market or other asset types and set portfolio stop-losses.
Shrimpy: Fee Structure
Shrimpy has plans for every user. It helps you automate your cryptocurrency strategy with a plan that works the best for you. Their pricing option allows you to get the most out of your portfolios. Moreover, they have monthly and annual plans from which you can choose accordingly.
Monthly Plans
- Starter: This plan will cost you $19 per month and will provide you spot trading, 15 min balance refresh, portfolio tracking, 3 portfolios per exchange account, and will let you connect 5 exchange accounts.
- Professional: This plan will cost you $79 per month and give everything included in the starter plan. In addition to this, it will also provide 5 min balance refresh, 5 portfolios per exchange account, API access, and you can also connect 10 exchange accounts.
- Enterprise: This plan will cost you $299 per month and include everything that is in the professional plan. Moreover, it gives you priority support, 1 min balance refresh, 10 portfolios per exchange account, and you may also connect 25 exchange accounts.
Yearly Plans
- Starter: The starter plan here costs $15 per month, and you will get all the benefits that were there in the monthly plan.
- Professional: This plan costs $63 per month, and this will also include everything in the professional monthly plan.
- Enterprise: This plan is $299 per month and includes everything in the monthly enterprise plan.
- Starter: The starter plan here costs $15 per month, and you will get all the benefits that were there in the monthly plan.
- Professional: This plan costs $63 per month, and this will also include everything in the professional monthly plan.
- Enterprise: This plan is $299 per month and includes everything in the monthly enterprise plan.
Shrimpy: Pros and Cons
| Pros | Cons |
| It focuses on portfolio automation. | There is no trading bot scripting support. |
| The platform is best suited for beginners. | There is no mobile application available. |
| Shrimpy has an intuitive interface. | The trading terminal is also not supported. |
| Create asset index. | |
| The platform provides educational guides regarding digital currencies. | |
| The platform supports multiple crypto exchanges in order to manage your cryptos. |
Wunder Trading: 4th Best Copy Trading Platform
Wunder Trading is a popular financial technology (fintech) company that strives to facilitate the real-world use of cryptocurrencies through several solutions and products. The platform was established in the year 2018 in Estonia. Moreover, run by a passionate team of experts from the fields of anti-money laundering, finance, software development, and trading.
Further, the platform allows its clients to buy Bitcoins securely and safely. Currently, Wunder Trading offers bitcoin and other cryptocurrency exchanges and a trading automation platform. Supporting various unique features, this platform takes it upon itself to provide you with a seamless experience. Furthermore, it is aimed more at novice traders due to its simplicity and professional traders because of its several features.
Also, read Wunder Trading Review – Social crypto trading
Wunder Trading: Features
- Wunder Trading is a secure, reliable, and fast way to buy Bitcoin. Moreover, you can also buy Bitcoin Cash, Ethereum, Litecoin, Tron, Stellar, Binance Coin, and Ripple using credit cards.
- The platform accepts some of the most popular payment options, including debit cards, credit cards, and SEPA bank accounts.
- Their commissions and cryptocurrency exchange fees are completely transparent and reasonable. Moreover, they offer the cheapest way to buy bitcoin and the best bitcoin exchange rates.
- They offer top-grade security as they do not store users’ digital assets in either the form of fiat currency or cryptocurrency. Once you buy a Bitcoin, it will directly be sent to your Bitcoin wallet.
- Their quick and simple verification process allows you to start trading cryptocurrency quickly while providing top-grade security and safety.
- Wunder Trading allows you to manage and connect multiple exchange account portfolios simultaneously in one place.
Wunder Trading: Fee Structure
Getting yourself registered and using the platform and its various tools is completely free of charge for traders and investors. You will get a free month to explore crypto trading automation. There are five variations of all the plans because they come in a variation of 1 month, 3 months, 6 months, 12 months, and 24 months. The basic plans are as follows:
- Free: In this free plan, you can explore crypto trading automation. Along with the plan, you will receive 5 open positions, 2 active bots, 1 API per exchange, and many other features.
- Basic: The basic plan costs about $9.95 per month and will help you automate your trading and investment for passive income. It will include everything in the Free plan and 15 open positions, 5 active bots, 2 API per exchange, and some other features.
- Pro: The pro plan costs about $24.95 per month and is particularly for full-time traders to combine manual, copy, and automatic trading. This plan includes everything that is in the Basic plan, plus 100 open positions, 15 active bots, 5 API per exchange, and other features.
- Premium: The Premium plan costs around $4.95 per month and has unlimited features for traders and their followers. You will receive everything that is there in the Pro plan, plus unlimited open positions, unlimited active bots, and unlimited API per exchange.
- Premium: The Premium plan costs around $4.95 per month and has unlimited features for traders and their followers. You will receive everything that is there in the Pro plan, plus unlimited open positions, unlimited active bots, and unlimited API per exchange.
Wunder Trading: Pros and Cons
| Pros | Cons |
| It has a simple and easy-to-use platform. | The platform does not have a large user base. |
| Because of API restriction and 2FA, all the funds are secure and safe. | It does not provide its users with a mobile application. |
| It has an approach of “Set it and forget it” with Social Trading. |
BingX: 5th Best Copy Trading Platform
BingX is a crypto social trading exchange founded in 2018 and offers copy, spot, and derivatives trading services. It serves more than 100 countries all around the world. The platform as a crypto social trading network is committed to giving users access to cryptocurrency trading strategies and ensuring that all the users invest in a transparent, engaging, and simple way.
Furthermore, the platform also provides forex copy trading, global indices, automatic copy trading function, commodities, and other contract trading products.
Also, read Bingx Copy Trading: How to Get Started?
BingX: Features
- Traders can easily trade one cryptocurrency to another with only one click with the ‘Exchange’ option.
- BingX fulfills the needs of all traders who want accessibility to a more advanced trading platform. The platform provides its traders with a modern yet simply designed and user-friendly interface that can work on both desktops and mobiles.
- The platform also provides charts that include indicators, multiple chatting tools, and overlays.
- Whenever a new account is created in BingX, the platform provides them with virtual-based coins, i.e., 100,000 VSD tokens. These tokens can be traded on the platform without even making an actual deposit.
- Copy-trading option is provided to all BingX traders. With this option, you can follow some of the great strategies of professional traders and copy them. 8% of the total profits generated are given to professional traders for sharing their strategy.
- Moreover, BingX offers exposure to traditional markets. As a result, price movements of markets such as forex, indices, and commodities can be speculated.
BingX: Fee Structure
The fee structure of BingX is as follows:
- Trading Fees: BingX charges the same trading fees of 0.075% for the opening and closing of a position. In order to calculate the trading fee, they multiply the trade volume by 0.075%.
- Deposit Fees: For depositing cryptocurrency to BingX, there is no deposit fee charge.
- Withdrawal Fees: The platform charges a withdrawal fee of 0.007 ETH and 0.0005 BTC to transfer ETH and BTC, respectively. Therefore, a stable coin withdrawal fee on BingX is as high as 28 USD per transaction.
- Withdrawal Fees: The platform charges a withdrawal fee of 0.007 ETH and 0.0005 BTC to transfer ETH and BTC, respectively. Therefore, a stable coin withdrawal fee on BingX is as high as 28 USD per transaction.
BingX: Pros and Cons
| Pros | Cons |
| The platform offers a well-integrated copy trading and a demo trading platform. | There is not much information provided on the platform about its security. |
| The leverage limit offered by the platform is 150x. | US traders are not allowed. |
| Against USDT or Bitcoin, there are over 30 trading pairs. | Customer support service is below-par. |
| The mobile app provided by BingX is intuitive and easy to use. |
Conclusion
All the above-mentioned copy trading platforms in the article might have the same features. However, if you are looking to become a copy trader, you should focus on the platform to get the highest and best from the profit distribution. Also, make sure to look for transparency and for exchange that offers more features and tools. Hope this article, “5 best Copy Trading Platforms in the UK,” might have given you an idea on which platform will be the best to follow.
Frequently Asked Questions
Does copy trading work?
Copy trading is also popularly known as social copy trading. This trading will work if you select regulated and trustworthy platforms/brokers. However, one should always be aware that copy trading does not always guarantee success. It does seem promising, but one should be mindful of the risks that come with it.
What is the benefit of copy trading?
Copy-trading helps beginners or novice traders get familiar with the crypto market and the terms related to them. Also, novice traders can take it as a learning opportunity by closely observing all the moves and strategies of professional traders. Furthermore, professional traders can earn some extra profit for sharing their strategies with other traders with copy trading.
How do you copy the best traders?
First, you need to find the best possible professional traders to copy trades from them. Then, make use of the filters provided by the platform. Also, observe their monthly trading results, number of followers, average trade duration, number of traders placed, and some other factors.
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