5 Best Copy Trading Platforms in Spain

Are you also the one who is really confused about which trading platform to choose when it comes to copy trading? Don’t have prior knowledge of crypto or have very little knowledge? Don’t worry, this article on “5 Best copy trading platforms in Spain” will be enough to enlighten you and will surely help you make the right decision.  

Summary

Platforms Registered YearHeadquartersCustomer SupportMobile Application 
3Commas2017Tallinn, EstoniaExcellent customer service Yes, both Android and iOS
BitYard2019SingaporeExcellent customer support serviceAvailable for Android and iOS both.
Gate.io2013George Town, Cayman IslandsGood customer support service.Available for Android and iOS both.
BingX2018SingaporeGood customer support serviceAvailable for Android and iOS both. 
MoonXBT2021Cayman IslandsGreat customer support service.Available for Android and iOS

What is copy trading?

Copy trading is among the most profitable and easiest trading methodologies that a novice or an inexperienced trader can use. Copy trading is also well known as social trading. It can be referred to as an automated way to optimize the portfolio management and investment strategy for traders looking to replicate the portfolio of highly skilled and renowned traders. Moreover, it is the choice of copy trader’s that they whom to copy. However, it’s their choice whether they would like to open the same position as the professional trader or not. 

Spain Cryptocurrency Laws

Cryptocurrencies are largely unregulated in Spain because they are not financial instruments under Spanish law. However, in October 2020, the government of Spain published a draft law to gain higher control of cryptos. This law stated that all the crypto traders must inform the tax authorities about the possession of every cryptocurrency they hold and any transaction that they make in a very detailed way. In addition to this, in March 2021, amendments to the Spanish Securities Markets Law were approved. These amendments were enacted to regulate the advertisements related to cryptocurrencies within Spain. 

1. 3Commas

3Commas is a Miami-based trading platform developed in 2017. As of now, they have around $22.5 billion in average monthly trading volume, and the platform is available worldwide. 

Further, the platforms have a wide range of features, including DCA Bots, Smart Trade, TradingView, Options Bots, Crypto-Signals, Trading Terminal, etc. 

One should note that the 3Commas Dollar Cost Averaging is one of the most preferred trading bots on this platform. Beginners can also practice trading at 3Commas using the paper-trading option.

Key TakeawaysDescription
Pricing StructureThere are some costs associated with these helpful services. 3Commas offers four subscription plans for you to choose from. The plans range from new crypto users, all the way to enterprise level operation. Below are the four plans and what they include. 
Starter $29/Month
This plan grants you access to the smart trading terminal, unlimited exchange integrations, and error and cancelation notifications. This level of subscription doesn’t include bots.
Advanced $49/Month
The Advanced plan includes everything listed in the Starter package plus access to simple bots, custom TradingView signals (proprietary trading interface), and a portfolio management interface.
Pro $99/Month
The Pro plan includes everything in the Advanced plan plus access to simple, composite, and Bitmex bots. You get full portfolio management software and access to custom TradingView Signals.
Pros1. It Supports more than 18 crypto exchanges.
2. Available worldwide.
3. Affordable plans are available.
4. KYC is minimal.
Cons1. The desktop application is not available.
2. Not much recommended for beginners.

2. BitYard

BitYard comes under some of the best crypto trading platforms present in the crypto market and has its headquarters in Singapore. As they have a massive network covering almost 150 countries hence the platform allows all its traders to trade independent of their country. Moreover, the platform aims at providing the opportunity to its traders from all over the world to trade their crypto assets with ease. This is because they believe in the concept of “Complex contract simple trade.” Furthermore, their simple user interface helps all novice traders to get their hands easily on the platform. 

Bityard
BitYard

Also read, Bityard Copy Trading – An Ultimate Guide

Key TakeawaysDescription
Pricing StructureBitYard charges a one-time fee when a trading position is opened, and that ranges from 0.075% to 0.05%. Moreover, if you meet their specified requirements, then further the award will be reduced by 10%. 
1. The maker-taker fee for spot trading ranges from 0.1% to 0.3%.
2. Overnight Fee is calculated as Margin *
3. Leverage * 0.05% * Overnight days.
4. The opening and closing fee for Derivatives is Margin * Leverage * 0.05% * Overnight Days.
Pros1. It has a simple and straightforward interface.
2. The trading fee that is charged by the platform is low when compared to others. 
3. All the traders get a welcome bonus of up to 258 USD
4. The platform provides leverage to its users ranging from 5x to 125x. 
5. Four different country regulators have licensed BitYard trading.   
Cons1. No insurance fund is there. 
2. The number of cryptocurrencies supported is quite limited. 
3. Only limited countries are supporting OTC trading. 

3. Gate.io

Gate.io is one of the earliest crypto-to-crypto exchanges from China. The platform comes under the top ten digital currency trading platforms whose main focus is on hassle-free crypto journeys and safe trading. It came into the picture in the year 2013, and ever since that time, it has been providing all the traders with the best trading experience. Moreover, there are many services offered by them, such as Quantitative trading, Leverage ETF, Leverage trading, Secured loans for traders, Future trading, and Hold to Earn Interest

Gate.io
Gate.io
Key TakeawaysDescription
Pricing StructureGate.io exchange has a simple pricing structure as it is divided into two parts, mainly spot, and futures markets. Additionally, there is no deposit fee. 
Spot Markets: The maker and taker fee is 0.2% per transaction. 
Future Markets: The Maker fee is 0.0150%, and the Taker fee is 0.0500% per transaction.  
Pros1. There is a wide range of cryptos and also more than 400 markets.
2. The platform consists of advanced trading features. 
3. There is no deposit fee, and the trading fees are also very low. 
4. Gate.io has a user-friendly user interface which makes it easier for beginners. 
5. Users’ data is safe from any threat as Gate.io uses enhanced security.
Cons1. The FAQ section of the platform lacks details. 
2. The platform has no fiat deposits. 
3. The team which is behind the platform lacks transparency, and also combined with its history of hacks, it lacks trust. 
4. Gate.io does not hold a license, and the overseeing of exchange is not done by a particular company.   

4. BingX

BingX is an innovative and unique cryptocurrency trading platform. It allows all the traders to connect with professional and successful traders to bring out the best results for all their investments. The platform held its roots in the crypto market in the year 2018 and since then has been offering spot trading, copy trading, and derivatives trading services across 100 countries. Moreover, there are around 30+ crypto assets and over 100+ crypto pairs. Furthermore, it also provides you with forex commodities, contract trading products, BingX copy trading, and global indices.

Bingx
BingX
Key TakeawaysDescription
Pricing Structure1. The fee structure of the BingX trading platform is such that the trading fee for the opening and closing of a position is 0.075%.
2. Therefore, to calculate the trading fee, you need to multiply 0.075% by the trade volume.
3. Moreover, the BingX platform does not charge traders any deposit fee to deposit their funds.
4. Furthermore, the withdrawal fee to transfer ETH to BTC off the exchange is 0.0007 ETH and 0.0005 BTC.
5. Also, the stable coin withdrawal fee on the platform is as high as 28 USD per transaction. 
Pros1. The BingX trading community helps all traders search for their ideal traders.
2. The trading data that is related to all the traders have complete transparency. 
3. BingX allows the traders to trade even if they don’t have much or only have a little knowledge of copy trading.
4. BingX provides traders with a mobile application available for both iOS and Android. 
5. There are several payment options available such as MoonPay, Apple Pay, cryptocurrencies, Banxa, Debit card, and Credit card. 
Cons1. Professional traders will only receive 8% of the total profit in exchange for their copy trading strategies and trades. 
2. Followers can lose some amount of money if the trader’s strategy is unsuccessful. 
3. The customer support service provided by BingX is not that good. 
4. Traders of the US are not allowed. 

5. MoonXBT

MoonXBT focuses on the deep integration of social interaction and trading and is the world’s first social crypto trading platform. The platform provides all traders with contract trading, one-click copy trading services for global traders, and also social interaction. MoonXBT has its offices in Singapore, Japan, Vietnam, Hong Kong, Malaysia, and South Korea. However, it has its headquarters in the Cayman Islands. Moreover, the pricing structure of MoonXBT is completely transparent and well-structured. In addition to this, the MoonXBT platform also offers stop-loss, take-profit settings, and multi-screen trading to the traders. 

Moonxbt
MoonXBT
Key TakeawaysDescription
Pricing StructureThe pricing structure of the MoonXBT platform is as follows:
Deposit Fee: The platform does not charge any deposit fee.
Withdrawal Fee: The withdrawal fee that the platform charges depend on the network type and currency; also, the amount limit ranges from 10 USDT to around 30000 USDT.
Trading Fee: The trading fee of MoonXBT is as low as 0.05% and only applies to takers. 
Pros1. The platform offers a copy trading option which is beneficial for beginners as well as advanced traders in order to learn how to trade by watching others’ actions. 
2. MoonXBT options markets are easily accessible via trading view. 
3. MoonXBT has high liquidity because of which the transactions are smooth. 
4. They provide traders with high leverage of up to 150x. 
5. The platform’s security is great as it makes use of cold wallets, and that too comes with encrypted assets, Two-factor authentication, and cold wallets. 
Cons1. The number of supported coins is limited. The platform does not offer spot markets.
2. It is a relatively new platform as compared to others. 

Conclusion

Copy trading has now become an extremely popular topic among all novice traders in the crypto market. The reason behind this is that it lets them trade by just copying the trading strategies of the professional traders that they follow. Moreover, in copy trading, there’s no need for novice traders to have a deep knowledge of the crypto exchange or crypto market. Therefore, we think Bityard can be one of your perfect destinations to get started.

Frequently Asked Questions

What is copy trading in Forex?

Copy-trading in Forex means that it is a simple and easy way of making currency trades even without the need of having much experience as a trader yourself. Instead, the main idea behind copy trading was to utilize other traders’ expertise and experience to copy the positions they have opened. 

What are the advantages of Copy-trading?

Copy-trading has many rules and regulations, but the truth is that copy trading is neither a much-complicated practice nor it is that tough to understand. Therefore, this is the main reason why it became so popular in the first place among traders. In addition to this, there are more advantages such as you can save your important time as you will be copying from successful traders. Moreover, you will learn a lot of techniques and strategies from successful and experienced traders, and importantly you are the only one who is in charge of your trades. 

On what basis do we choose copy trading?

The first thing that the traders need to keep in mind while choosing a copy trader is that they must first observe the total number of followers that the experienced trader has, number of trades placed by him/her, monthly trading results, profit percentage, average trade duration, and also some other factors according to the user’s need. 

Shubhadika Rawat
Shubhadika Rawat

Shubhadika is currently working as a Salesforce Developer at IBM. In addition to this, she writes content related to cryptocurrencies and blockchain. Moreover, she firmly believes that cryptocurrency might slowly sway away from this world.

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