Forex Brokers for Copy Trading

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: September 16, 2025

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• Jump to:
• Main Features
• Key Features to Look For
• Benefits of Copy Trading Broker
• Risks in Copy Trading
• How to Choose the Right Forex Broker
• Copy Trading vs. PAMM
• Tips for Successful Copy Trading
• Final Thoughts
›

We all know that Forex is complex and that it takes time to hone your skills in the industry. That’s why copy trading has emerged as a popular way for beginners to get their feet wet without having to master complex strategies. Through automated platforms, you can mimic the trades of market experts and potentially earn passive income.

1. 

   Plus500 US

   Rating: 4

   This content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.

2. 

   eToro

   Rating: 4.2

   61% of retail investor accounts lose money

3. 

   Fusion Markets

   Rating: 4.8

   74-89% of retail's CFD accounts lose money

4. 

   FP Markets

   Rating: 4.9

   73.85% of retail investor accounts lose money

5. 

   BlackBull Markets

   Rating: 4.8

   Trading leveraged products is risky

6. 

   Global Prime

   Rating: 4.7

   74-89% of retail CFD accounts lose money

7. 

   Pepperstone

   Rating: 4.4

   75.5% of retail investor accounts lose money

8. 

   Vantage

   Rating: 4.5

9. 

   XM Group

   Rating: 3.8

   72.82% of retail investor accounts lose money

10. 

    IC Markets

    Rating: 4.8

    70.64% of retail investor accounts lose money when trading CFDs with this provider.

Our team has thoroughly evaluated all brokers listed below using TradingPedia’s exclusive methodology.

Main features of the best Forex brokers for copy trading

Key features to look for in a copy trading broker

Let’s explore the critical features that a copy trading broker should offer.

1. Number of experts

   A broker that offers a large pool of master traders is preferable, as it allows you to pick the best one. If the list is small, you may have to compromise on factors such as profitability and drawdown.

2. Statistics

   Detailed analytics for each master account enable you to examine several key metrics before deciding to follow it. These include the full trading history, average monthly gain, consecutive wins and losses, drawdown, trading methodology, risk score, etc.

3. Transparency

   Some brokers do not reveal historical drawdown, or they manipulate the risk score by assigning low ratings to accounts with high drawdowns. Therefore, look for a broker that operates transparently.

4. Spreads and fees

   Since you copy every trade of the provider, pay attention to the spreads and fees, as higher operating costs may affect your profitability.

5. Latency

   Copy trading can erode your profits if latency is high. Always test the service with a small deposit and compare the open and close prices in your account with those of the provider. Minor differences may exist, but a large discrepancy indicates high latency.

Benefits of copy trading brokers

Let’s look at some of the advantages offered by copy trading brokers.

• You can leverage the expertise of professional traders without any prior knowledge.
• You don’t need to constantly monitor your account. All you have to do is deposit funds and start copying trades.
• Even if you are an advanced trader, you can diversify your portfolio by copying different traders across multiple markets.

Risks in copy trading

Copy trading is not risk-free. Here are some of the risks to consider:

• The statistics show historical performance, and there is no guarantee that future results will be the same.
• Every trading method carries a certain level of risk. In rare cases, the risk may exceed previously observed thresholds.
• Some strategies carry high risk and potentially high returns; they may lead to a margin call.

How to choose the right Forex broker for copy trading

Now that you understand what copy trading is along with its pros and cons, let’s determine how to find the best copy trading broker.

Always place regulation at the top of your criteria when selecting a broker. A highly regulated broker is more likely to behave ethically, safeguarding your interests and your hard-earned money. In case of a dispute, you can escalate the matter to the relevant regulatory authority.

Always evaluate the broker’s copy trading platform before signing up. A user-friendly interface, a wide variety of strategies, and robust filters to search for strategies based on your chosen parameters are key factors. Moreover, check whether the platform supports long-term and/or short-term investing opportunities.

Unsatisfied customers often leave reviews on various forums and share their experiences. If a broker has too many dissatisfied customers, its rating will fall. Reputable brokers strive to maintain high ratings, so a large number of negative reviews is a red flag.

Copy trading vs. PAMM

PAMM and copy trading are significantly different approaches, although both serve the same purpose: leveraging the expertise of professional traders.

In PAMM, you become part of an investment pool deposited into a single account. You receive a proportional share of profits and losses. This approach gives you less control because you cannot see live positions and cannot set your own risk level.

In copy trading, you have more control over your account because you can see each position opened or closed. You can manually turn copy trading on or off at any time, and you can even set a maximum loss (stop-out level).

PAMM is suitable for investors who prefer a hands-off approach and want passive income, whereas copy trading is for traders who wish to remain involved in the process and learn as they go.

Tips for successful copy trading

Here are a few tips that could help you on your copy trading journey.

1. Active involvement

   You should actively monitor your account and make adjustments when necessary. Each position is unique and carries its own risk. You can analyse the charts and, if you feel uncomfortable with a position, reduce the volume to lower the risk or close the position entirely.

2. Diversification

   Relying heavily on one strategy is not a great idea. Spread your investment across different strategies in line with your risk appetite.

3. Stay updated

   Keep yourself informed about market dynamics, economic events, risk sentiment and the overall market bias. This knowledge can help you filter out poor trades.

4. Limiting risks

   When copying trades, the broker allows you to set a stop-out level. In the worst-case scenario your loss will not exceed this level; your open positions will be liquidated and you will retain the remaining funds. If you do not set this level, you risk a 100% loss.

Final thoughts

Copy trading is a great option for beginners, busy traders and those seeking diversification. Choosing between PAMM and copy trading depends on how actively you want to be involved. By opting for a regulated broker that offers transparency, low spreads and a user-friendly copy trading platform, you can make the most of the Forex market. Start responsibly and experience how professional traders work.