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Copy trading can be beneficial, but only if you trade with the right platform. A fitting platform should be authorised and regulated by the FCA, so check that. You must vet other elements, too, including fees, customer support, and online reputation. We researched the service providers in the UK and identified 4 that can help you reach your trading goals. We’ve reviewed them in this guide. We encourage you to pick a reliable service provider from our list of the best copy trading platforms in the UK.
Transitioning from being a novice to a successful trader takes a long time. You must dedicate countless hours to learning, practising, and honing your skills. That said, you can earn substantial returns while trying to better yourself as a novice. How? The secret lies in copy trading, which allows you to copy experienced traders and reap from their skills.
But to reap the perks of copying experienced traders, you need a good broker that supports copy trading. Finding one may sound challenging since many service providers are available today. Don’t worry, though. Our team has evaluated today’s most reputable brokers and hand-picked 4 of the best copy trading platforms in the UK.
We are dedicated to providing the best recommendations and unbiased information. While compiling this guide, our experts conducted thorough research and vetted all service providers based on factors like licensing, security, and online reputation.
List of the Best Copy Trading Platforms
- eToro – Overall Best Copy Trading Platform UK
- FP Markets – Best Copy Trading Platform for Forex Traders
- AvaTrade – Best Copy Trading Platform for Beginners
- FxPro – Best Copy Trading Platform for Advanced Traders
In This Guide
UK Copy Trading Platforms: Comparison Table
A substantial number of the brokers in the UK have copy trading features. Now, you can’t just pick a random service provider for several reasons. First, many brokers are operating without proper licensing and regulation. If you commit to an unregulated company and lose your money, using legal recourse to seek compensation will be difficult.
Additionally, if you start trading with a random platform without exercising caution, you might be exposed to many other issues, including hidden fees, poor support, and frequent downtime. You must be very careful while choosing the right copy trading platform. Do what we did: before preparing this guide, our experts evaluated the service providers available in the UK and picked the best based on diverse factors.
The following comparison table highlights the first factors we considered while choosing the best copy trading platforms.
| Best Copy Trading Platform | Licenсe & Regulation | Support Service | Support Service | Payment Method | Demo Account |
|---|---|---|---|---|---|
| eToro | FCA, MAS, CySEC, FSCA, ASIC, SFSA ADGM, MFSA, FSAS, GFSC, SEC | 24/5 | eToro investing platform and app, Multi-asset platform, Social Trading, Copy Trader, Smart Portfolios | Credit/debit cards, Bank transfer, Klarna, PayPal, Skrill, Neteller | Yes |
| FP Markets | FCA, MAS, FSCA, ASIC, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Debit/credit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
| AvaTrade | FCA, MAS, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| FxPro | FCA, FMA, CySEC, FSCA, SCB | 24/5 | FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTrader | Credit/debit cards, Bank wire transfers, Neteller, Skrill, PayPal | Yes |
Platforms Short Overview
To ensure you get optimum returns, you need to trade with a broker with reasonable fees. And to avoid nasty surprises, your chosen service provider should have a clear, transparent fee structure with no hidden charges. You can predict future costs and plan accordingly with transparency in the equation. Furthermore, you must check if your chosen copy trading platform has your favourite financial assets.
The tables below will help you compare the fees and assets we discovered while evaluating the best copy trading platforms in the UK.
Fees
| Best Copy Trading Platform | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| eToro | £100 | From 0% | £5 withdrawal fee | £10 monthly |
| FP Markets | £100 | From 0.0 pips | Free | £0 |
| AvaTrade | £100 | From 0.13 pips | Free | £50 after every 3 consecutive months of inactivity |
| FxPro | £100 | From £3.50 per lot | Free | £10 monthly |
Assets
| Best Copy Trading Platform | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| eToro | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
Our Expert’s Opinion about the Best Copy Trading Platforms
The best copy trading platforms UK stand out from the crowd. These entities have all the right features. For starters, they are authorised and regulated by the FCA and other reputable international authorities.
Please note that our team thoroughly vetted and compared countless service providers in order to ensure we recommend the best options based on accurate information and first-hand experience. We also factored in online reviews on Google Play, Trustpilot, and the App Store.
The following mini-reviews will introduce you to the best copy trading platforms in the UK and what they offer.
1. eToro – Overall Best Copy Trading Platform UK
After assessing and testing numerous service providers, we consider eToro the best in the UK. It has an outstanding, simplified, and user-friendly copy trading platform. Anyone, including novices, can start and stop copying top-performing traders. We also love the platform because it allows users to copy experienced investors while investing in assets like real stocks.
The CopyTrader feature is free on eToro, meaning you don’t have to pay additional fees to use it. While using it, you’ll be able to source insights from thousands of popular investors and traders. You can pick one individual or build a team with up to 100 pros. Once you become an experienced and successful investor, you can join eToro’s Popular Investor Program and earn income for getting copied.
That aside, eToro is a splendid platform that gives you access to over 5,000 instruments. They range from forex pairs and indices to real stocks and ETFs. It boasts over 30 million users and keeps client funds safe with renowned institutions like J.P. Morgan and Deutsche Bank.
eToro
✔5000+ financial instruments
✔Cost-free deposits
Pros & Cons
Fees
Trading Assets
Pros
- Clean, user-friendly interface
- Offers over 5,000 financial assets
- Top-performing investors earn income
- Excellent customer support
- Comprehensive learning materials
Cons
- £10 monthly fee for dormant accounts
- £5 fee for each withdrawal request
If there’s anything that can eat away at your profit margins, it’s unnecessary costs. Thankfully, eToro fees UK are reasonable and pocket-friendly. We acquired a new account without paying a single cent, which was quite a relief. We also noticed that you can enjoy free deposits by using USD. That said, eToro supports many other currencies, including GBP, EUR, and RMB.
You will incur conversion fees if you use any currency other than USD. And if you use any currency that eToro doesn’t support, you must pay conversion fees to your payment provider. The exact conversion fees you may incur at any moment will depend on various factors, including your preferred currency and payment method.
Please note that eToro subjects each withdrawal request to a £5 fee. The platform uses this money to pay expenses arising from international money transfers. Most importantly, you can’t withdraw less than £30 from the eToro trading platform.
While depositing money into our account, we noticed that eToro has strict minimum deposit requirements. Britons using this platform have to deposit at least £100 the first time. Afterwards, you can fund your account with as little as £10, depending on your preferred payment method.
Commission-wise, eToro is very friendly to people who trade ETFs or invest in real stocks since the broker charges 0% for these assets. On the other hand, if you buy or sell crypto on this platform, expect to pay a 1% fee. CFD trading also attracts variable spreads depending on the involved instruments. For instance, the spreads for currencies and commodities start from 1 pip and 2 pips, respectively.
Not to forget, eToro charges a £10 monthly inactivity fee that kicks in after 12 months of dormancy.
2. FP Markets – Best Copy Trading Platform for Forex Traders
If you are a forex enthusiast, try copy trading with FP Markets. It will enable you to copy top-performing forex traders, exercise greater control over your trading behaviour, and enjoy the perks of automated trading. This platform allows users to engage in copy trading via MT4 and MT5. However, many other platforms are available on FP Markets, including cTrader, TradingView, and web traders.
Besides the copy trading feature, we recommend FP Markets because it gives traders access to over 70 currency pairs and low spreads starting from 0 pips. Moreover, savvy traders can use the offered leverage of up to 500:1 to increase potential returns significantly. In addition to FX pairs, over 10,000 CFDs on shares, commodities, indices, and other assets are available on this platform.
Not to forget, since millions of Muslims are in the UK, FP Markets does all it can to ensure Muslims are comfortable. If you are a Muslim, you can open a special account with this broker before diving into copy trading. The account will enable you to enjoy zero interest charges and swaps while holding positions overnight. FP Markets allows its users to open MT4 and MT4 Islamic trading accounts.
FP Markets
✔10,000+ tradeable financial instruments
✔Free deposits and withdrawals
Pros & Cons
Fees
Trading Assets
Pros
- The copy trading feature is free
- Over 10,000 tradeable products are available
- Users get excellent support 24/7
- Tight spreads starting from 0.0 pips
- Powerful trading platforms like MT4 and MT5
- Zero inactivity fees
Cons
- Limited educational materials
- Supports forex and CFD trading only
Before going any further, note that the FP Markets minimum deposit is £100. You can’t fund your account with anything less than the mandated amount. Also, as a trader, expect to cover stipulated FP Markets fees and commissions. Let’s expound on that.
FP Markets has different trading and non-trading fees. However, the costs you will likely incur depend on where you are from. Take London as an example. If you’re from this city, you’ll incur a 0.10% commission per side while trading equity CFDs. You’ll also have to pay a £60 monthly fee if you use Iress Trader or ViewPoint.
But here’s the good news. You won’t incur additional costs while depositing or withdrawing money from your FP Markets trading account. Moreover, unlike many other brokers, this service provider doesn’t have inactivity fees for dormant accounts.
Please visit FP Market’s official site for a comprehensive overview of all fees and commissions.
3. AvaTrade – Best Copy Trading Platform for Beginners
Are you new to copy trading? We strongly recommend starting with AvaTrade. This platform has comprehensive learning materials that will introduce you to the essentials of copy trading and tell you how to do it with AvaTrade. Additionally, you can learn everything you need to become a successful forex trader through AvaAcademy. The platform has countless basic and advanced forex trading courses and guides.
AvaTrade has a dedicated copy-trading app called AvaSocial. With it, you can connect with a vibrant community of seasoned pros and replicate the most successful traders’ strategies. As a beginner, the AvaSocial app offers you the opportunity to trade confidently and reach your financial goals seamlessly. It also enables you to avoid making detrimental mistakes and incurring crippling losses that will force you to quit prematurely. Remember, 80% of new traders give up within 2 years, mainly because of constant losses.
We also urge newbies to choose AvaTrade because this broker allows new users to practice with a demo account that lasts 60 days and comes with virtual money worth £100,000. Moreover, this broker offers tradeable instruments like commodities and FX pairs as well as investment products like real stocks and ETFs.
AvaTrade
✔Free deposits and withdrawals
✔Beginner-friendly user interface
Pros & Cons
Fees
Trading Assets
Pros
- Exceptional training guides and courses
- Offers free copy trading on the AvaSocial app
- Free deposits are withdrawals
- Excellent customer support
- Tradeable instruments and investable assets are available
Cons
- High account inactivity fee
- Higher spreads than most of its peers
Before going any further, note that there’s an AvaTrade minimum deposit requirement for UK traders. Fundamentally, this service provider requires Britons to fund their account with at least £100 while using supported payment methods like wire transfer, credit card, and e-payment. You should keep that in mind while funding your trading account.
That aside, while evaluating AvaTrade, we discovered that this broker has numerous fees and costs. For starters, it requires dormant account holders to pay a £50 inactivity fee. It kicks in after 3 successive months of dormancy, and the broker charges it after every 3 months.
Additionally, dormant AvaTrade accounts incur a £100 annual administration fee that takes effect after 12 months of inactivity. Not to forget, while trading with AvaTrade, you’ll have to cover an overnight premium whenever you keep a position open after the stipulated overnight funding time, which is 22:00 GMT.
Regarding spreads and commissions, AvaTrade is one of the most affordable brokers in the UK. With this platform, you will enjoy reasonable spreads starting from 0.13% while trading popular instruments like Tesla and Amazon shares are involved. AvaTrade doesn’t require traders to cover any commissions. The broker uses the Bid-Ask spread to compensate itself.
4. FxPro – Best Copy Trading Platform for Advanced Traders
FxPro has an all-in-one platform known as FxPro CopyTrade, which we consider ideal for advanced traders for several reasons. First, its users enjoy 100% automated, hands-free trading. Furthermore, it offers the proprietary Trade Copier System, an extensive strategy that copies every move that traders make. It’s designed to help you take the guesswork out of trading and maximise potential returns.
FxPro’s Trader Copier System allows traders to use their MT4 and MT5 accounts to automatically open, modify, and close trades. It also has built-in risk management tools that support custom risk management and the minimum execution delay, which is crucial in reducing slippage.
We also consider FxPro suitable for advanced traders because it allows people to trade CFDs on over 70 popular currency pairs, such as GBP/JPY, USD/CAD, and EUR/GBP. Numerous other financial instruments, including indices, metals, and futures, are offered on this platform.
FxPro
✔User-friendly platform
✔Low minimum deposit requirement for UK clients
Pros & Cons
Fees
Trading Assets
Pros
- Well-designed, user-friendly interface
- Powerful platforms like MT4 and MT5 are available
- Robust copy trading system
- Free deposits and withdrawals
- Excellent customer support service
Cons
- High copy trading subscription fees of up to £99.99 per month
- Dormant accounts incur a £10 monthly inactivity fee
From our broker analysis and comparisons, we find FxPro to be one of the most affordable brokers for Ul clients. For starters, this broker has a free account opening procedure that takes minutes to complete. Moreover, it has a £1000 minimum deposit requirement, though you can deposit as little as £100. And when it comes to transaction costs, FxPro doesn’t impose any. We believe this makes it suitable for newbies who are sceptical about spending a lot of money and low-budget traders.
When it comes to trading charges, FxPro imposes low fees compared to other brokerage firms. For instance, forex trading attracts low fees, starting from 0.0 pips on major currency pairs. However, expect to incur additional costs for positions left overnight. There is also an inactivity fee of £10 monthly should your account remain dormant for over six months.
Copy Trading in the UK
Copy trading is legal in the UK and accessible to people aged 18 and above. That said, copy trading platforms are regulated by the FCA in the UK. This authority ensures service providers operate with integrity and maintain fair practices. To avoid losing your money to fraud, bankruptcy issues, and other complications, trade exclusively with FCA-authorized and regulated copy trading platforms.
Before you become a copy trader, note that copy trading has many risks. For instance, you may encounter successful traders enjoying the fruits of short-term luck. Such people may not have sustainable strategies. You might incur significant losses if you mirror their moves and the tides turn. To avoid such issues, evaluate every trader’s track record and check if they’ve earned consistent returns. Also, check if their strategies align with your investment goals and risk tolerance.
While copy trading, your proceeds may be subject to taxation. Read local laws and ordinances and act accordingly. Otherwise, you may break one or more laws and end up with hefty fines or go to jail.
What is a Copy Trading Platform?
A copy trading platform allows you to replicate the actions and strategies of successful traders who are likely more experienced than you. Most of these platforms allow users to choose traders to copy from a list of top-performing individuals. The best copy trading platforms are 100% transparent and give users access to the entire trading history and real-time updates of every copied successful trader.
How to Choose the Best Copy Trading Platform
Many brokers support copy trading. However, you should carefully vet every service provider before settling on its copy trading offering. When evaluating if a copy trading platform is good for you, consider the following:
Security
Fees
Customer Support
Assets
Online Reputation
Educational Resources
You should check every service provider’s licensing and regulatory status. To enjoy optimum security and protect your resources from criminals, prioritise trading with a platform regulated by the FCA. Ideally, the best service provider should also be licensed and authorised by other recognised authorities, like CySEC and the FSCA.
Check if your preferred trading platform charges copy trading fees. Additionally, vet all other elements that can lead to extra costs, including transaction charges, account management fees, and inactivity fees. Remember, fees and charges impact overall profitability and returns.
A copy trading platform may promise excellent customer support services and fail to deliver. You don’t want to encounter that issue while facing an urgent problem. We encourage you to test your chosen service provider’s customer support service before signing up. If you don’t receive prompt, top-notch responses, consider finding another platform.
Before signing up with a copy trading service provider, check if your favourite financial instruments are available. If not, continue searching until you find a suitable platform. You should also prioritise trading with platforms with a wide range of assets for portfolio diversification purposes.
Visit the App Store, Google Play, and Trustpilot and examine your chosen copy trading platform’s reviews and ratings. Read as many testimonials as possible. Don’t focus only on positive reviews; look for negative comments as well. They will help you identify potential drawbacks of trading with the service provider in context.
Education is vital to both novices and experienced traders. For that reason, find a copy trading platform with learning and training resources you can use to take your knowledge and skills to the next level. The best copy trading platform UK should have sufficient, top-quality guides, video tutorials, etc.
How to Sign up for an Account with a Copy Trading Platform
After finding a good copy trading platform, open an account. Regulated service providers have strict KYC mandates, so prepare to submit personal information and the necessary documents. Here’s how you can open an account with a UK copy trading platform:
Step: Visit the service provider’s official site
Step 2: Create your account
Step 3: Verify your account
Step 4: Fund your account
Step 5: Trade
Start by visiting your chosen broker. Go to the official site and check the available products, features, and functionalities. Additionally, if you are a novice, search for materials that can help you understand how copy trading works. Don’t forget to read the company’s policies and T&Cs.
Create your account and submit the required information. Ensure you share your legal name as it appears on your documents. Also, the other details you share should be valid and relevant. Don’t forget to verify your email and/or phone number.
After registering, verify your account. Check and submit the documents your service provider requires. Share clear photos and copies to avoid unnecessary delays and complications. Most importantly, ensure the information on your documents matches the details you submitted while registering.
Your service provider will assess your application and verify that everything is okay. Afterwards, go through the list of supported payment methods, select one, and fund your account with it. Keep the platform’s minimum deposit requirements in mind while doing so. If you are a newbie, start with the smallest capital possible.
Explore your chosen broker’s copy trading platform and vet the most successful traders. Pick one guru and start your copy-trading journey. Ensure the person you choose to copy uses sustainable strategies that align with your trading goals and needs. Monitor the performance of your positions regularly and switch the traders you are copying whenever necessary to avoid detrimental losses.
Conclusion
Achieving optimum success doesn’t start and stop at picking a good copy trading platform. You also have to find a good trader to copy. That is the key to earning consistent returns. While assessing if a trader is worth copying, consider performance history, trading style, and experience. Also, look for testimonials from other individuals who’ve copied your chosen trader in the past.
Finally, copy trading exposes you to potential losses and doesn’t guarantee profits. Only risk what you can lose without derailing your life.
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