Copy trading is a revolutionary concept allowing you to mirror the trades of experienced and successful traders automatically. You can learn from the strategies and insights of successful traders and gain valuable knowledge about market trends and trading techniques.
Professional traders get a nominal fee in return for sharing their valuable strategies with beginners. However, you must know that blindly following a successful trader without understanding his strategy could lead to a bigger financial loss in your trades.
Let’s discuss the 10 best copy trading apps in India that can help you learn more about social trading and enhance your trading skills.
Best Copy Trading App In India
#1. eToro
eToro introduced the world’s first social trading platform CopyTrader in 2010. Through eToro’s CopyTrader, you can automatically replicate the trades of successful investors in real-time.
You have to pay a nominal charge for replicating the strategies. This not only allows you to learn from the experts but also saves you time and effort.
eToro is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC) in Australia.
eToro complies with stringent regulatory standards to ensure the safety of investors’ funds.
Pros
- Highly regulated platform across the globe
- Social news feed for market insights
- Simple to use platform for new traders
Cons
- Higher spreads on certain assets
- Inactivity fee of $10 per month after one-year inactivity
#2. AvaTrade
AvaTrade offers copy trading through its DupliTrade feature that enables you to follow skilled traders effortlessly.
AvaTrade offers in-depth educational content to help you easily learn trading concepts.
AvaTrade is regulated by multiple regulatory authorities including ASIC, FSA, FFA, FSCA, and the Israel Securities Authority.
You can also use the demo account to learn copy trading without risking your money.
You can also go through our list of the best virtual trading apps in India if you want to learn stock trading without investing real money.
Pros
- Intituitive trading app
- Dedicated research and analysis tools
- Robust negative balance protection to minimize sudden losses
Cons
- Charges overnight fees for open positions
- $50 fee after 3 months of inactivity
#3. Pepperstone
Pepperstone allows you to follow and copy successful traders effortlessly using MetaTrader 4 (MT4) and MT5 apps.
Pepprestone also has an in-house app called cTrader that allows you to trade in Forex, Metals, Indices, Stocks, and ETFs.
Pepperstone app’s user-friendly interface and comprehensive customer support ensure you have a smooth experience.
Pepperstone is regulated by the ASIC, Australia, and the FCA, UK.
Pros
- Access to a large pool of skilled traders to copy.
- Multiple social copy trading platforms
- Competitive spreads and low trading fees.
Cons
- Only 40 articles on the education platform
- High minimum deposit requirement of $200
#4. ZuluTrade
ZuluTrade is popular for its transparent pricing structure. If you do copy trading in ZuluTrade, you have to pay 20% of profits gained to the trader whose strategy you are copying and 5% to ZuluTrade.
You can also select from thousands of signal providers and create a diversified portfolio tailored to your risk appetite. The ZuluTrade app’s performance page provides in-depth statistics to help you make informed decisions.
ZuluTrade is regulated by multiple authorities in the EU, South Africa (SA), Mauritius, and Japan.
Pros
- Fair pricing structure
- A vast network of signal providers to choose from.
- Advanced risk management tools.
- Option to trade forex, cryptocurrencies, and more.
Cons
- Lack of direct customer support.
- Limited customization options for risk management.
#5. OctaFX
OctaFX is a well-established broker that started copy trading around 2 years ago. The app allows you to follow and copy successful traders seamlessly.
The best part of the OctaFX app is that it allows you to deposit money using UPI apps such as PhonePe, Paytm, and similar ones. You can start with a minimum deposit of $20.
OctaFX also offers a paper trading platform with virtual money of $5000 to learn forex trading in a realistic manner.
OctaFX is regulated by CySec, Cyprus only.
Pros
- High leverage of up to 1:500
- Easy-to-use CopyTrading platform
- Competitive spreads and low fees.
- Comprehensive educational resources
Cons
- Limited range of available assets.
- No social trading news feed.
You can also check our article on the best forex trading apps in India to know more about forex brokers in the market.
#6. PrimeXBT
If you want to do copy-trading in cryptocurrencies, then go with the PrimeXBT app. The PrimeXBT app’s robust trading tools and advanced charting software help you do in-depth analysis.
You can start with a minimum of 0.01 bitcoin making it easier for a beginner trader.
The app has a low fee structure where cryptocurrency transactions cost around 0.05% whereas forex, indices, and commodities cost 0%.
However, PrimeXBT is not regulated by any authority, it’s a self-regulated crypto-exchange.
Pros
- High-leverage options up to 1:1000
- Fast and secure order execution
- Low commission structure
Cons
- Limited crypto trading pairs
- No regulatory authority
#7. Naga
Naga is a social trading platform that offers 1000+ trading assets to trade.
The app has a user-friendly interface and extensive social network features making it ideal for beginners looking to explore the world of copy trading.
You have to pay a fixed fee of €0.99 per trade to copy a trader’s strategy which is lower compared to other competitors.
Naga app is a part of the publicly listed company on Germany’s Frankfurt stock exchange. It is regulated by the FSA, Seychelles, and CySec, Cyprus.
Pros
- Social media-like feed for traders to share insights and ideas
- Option to invest in cryptocurrencies, stocks, and indices
- Low copy-trading fee
Cons
- Spreads are high starting from 1 pip
#8. CopyFX
CopyFX is a copy trading platform from RoboForex, providing a wide range of trading instruments for copy trading.
With CopyFX, you can choose from a diverse pool of successful traders and implement their strategies in your own portfolio by sharing a profit of 5% to 50%.
You can also modify the copied trading strategies as per your own requirements. Though CopyFX doesn’t have its own app, you can use MT4 and MT5 for copy trading.
CopyFX is regulated by the Financial Services Commission of Belize (FSC).
Pros
- Wide range of available trading instruments
- Facility to modify copied trades
- Risk management tools for customized copy trading
- Free demo account for practice
Cons
- No proprietary app is available
- Limited educational resources
#9. FXTM
You can use the FXTM app’s free trading tools, pip calculators, and economic calendars for seamless trading.
You can also explore its e-learning academy to learn forex trading.
FXTM platform offers zero spreads, and lightning-fast execution for a seamless trading experience, however, you have to pay a commission to FXTM from $0.40 to $2 per $100K trading value.
FXTM offers a seamless copy trading experience through its FXTM Invest feature. The platform provides a diverse selection of strategy managers, allowing you to build a portfolio tailored to your financial goals.
You can also try the paper trading app on FXTM’s inbuilt demo account for practice forex trading.
Pros
- User-friendly interface for easy navigation
- Low spreads and commission on trades
- Extensive education library
Cons
- High withdrawal fees
#10. Binomo
Binomo is a copy trading platform known for its focus on binary options trading. It allows you to follow and replicate the trades of successful binary options traders. You can trade in more than 200 assets including forex, gold, and cryptos.
The best thing about the Binomo app is that you can deposit as low as $10 and start trading with just $1.
Binomo is regulated by International Financial Commission (IFC) and certified by the CROFR.
Pros
- Easy-to-understand binary options trading interface.
- Low minimum deposit requirement.
- Demo account for practice.
Cons
- Limited trading instruments compared to other platforms.
- Strict regulatory restrictions.
Conclusion
eToro is an excellent choice for you if you are a beginner trader because eToro offers a user-friendly app, a wide range of assets, and an efficient copy trading tool.
For experienced traders seeking advanced tools and multiple copy trading options, AvaTrade provides a comprehensive and robust platform.
If you are interested in a social media-like experience and a low trading fee excites you, then Naga can be an ideal copy trading app for you.
FAQs
Copy trading is a form of social investing that allows you to replicate the trades of experienced traders automatically. By choosing a trader to follow, your account will mirror their trading activities in real-time.
Though copying expert traders’ strategies seems to be a safe bet, but nobody can predict the market trend, and blinding following someone can be loss-making for you.
You can consider factors such as user interface, available assets, risk management tools, and low commission. Always read user reviews as well before making a decision.
Yes, most copy trading platforms allow you to combine copy trading with manual trading. You have the flexibility to manage your investments actively while also benefiting from the strategies of other successful traders.
Each copy trading app may have a different fee structure. Look out for factors such as spreads, commissions, and withdrawal fees. You may also have to pay a profit share with the trader whose strategy you copied.
No, copy trading has expanded to cover various financial instruments, including stocks, commodities, cryptocurrencies, and indices. You can choose the assets that align with your investment objectives.
Yes, if you are experienced enough and have made successful trading strategies in the past, you can monetize your successful strategies and gain recognition within the trading community.
The minimum investment requirement varies depending on the platform.
