Copy Trading For Beginners 2023 The Best Platforms & Software

Still, MoonXBT and Bitget offer higher per cent profit shares than the BingX exchange. On the other hand, BingX offers a fast trading experience to its users. Moreover, both Bitget and BingX are regulated by authorities of different nations. On the other hand, MoonXBT provides a lot of new features to followers as well as traders. Bitget is a leading cryptocurrency trading platform that offers a variety of advanced features, including copy trading. Bitget Copy Trading enables novice traders to connect with successful traders and automatically replicate their trades.
A recent report on copy and social trading released by cryptocurrency exchange platform Bitget shows that Gen Zs account for 44% of all copy trading users. Members of this age group showed the highest interest in copy trading, while older crypto traders utilized copy trading to obtain professional insights. To date, Bitget is the world’s largest crypto copy trading platform, with over 100,000 professional traders, over 400,000 followers, and a total of 100 million trades completed on the platform.
You have to deposit a crypto asset, whether for a fixed term or a flexible term plan, and earn interest in return after the mentioned period. bitget supports popular cryptocurrencies like BTC, USDT, and even ETH. Bybit has made payments easy with their support of crypto deposits and fiat purchases. You can kickstart your journey on the platform by simply depositing cryptocurrencies from your crypto wallet.
The information provided on this page is for educational purposes only and is not intended as investment advice. We may receive compensation from our partners if you visit their website. Copy trading lets investors with less experience do the same trades as investors with more experience. In short, copy trading is a good way of copying someone else’s work. If the user has difficulty understanding what they should trade, Bitget provides live chat and detailed tutorials and guidelines for all process aspects. The site also has a frequently asked questions (FAQ) section, covering the fundamentals that the user could otherwise miss.
As with every aspect of copy trading, consistency is the primary goal. If you notice the trader switching strategies, increasing lot sizes and risk against their account, it may be time to unfollow. When researching a copy trader, observe the number of followers with live trading accounts. If the trader only has a handful of followers, looking for another with several thousand followers might be best.
Completing the KYC allows users to access Bitget exchange services and products. Beginners may easily make passive income, while experienced traders can share their techniques and profit from their followers’ gains. When you complete a copy trade for the first time, you receive a $30 coupon. They only offer perpetual, which means futures that do not have expiry dates.
For the non-trading screens, I would have to give the “user-friendly” edge to Bitget as it is slightly less cluttered and easier to navigate, but not by any substantial degree. Some brokers offers Islamic (swap-free) live accounts, which comply with Sharia law. You can get in touch with your broker to find out if this type of trading is supported in your account. An overall favourite among traders is the award-winning brokerage, eToro, which has been cited by numerous online reviews. For those who wish to use popular third-party platforms, AvaTrade or Pepperstone are also good choices.
Copy trading has become incredibly popular as we have seen on traditional exchanges like eToro, and the explosion of copy trading popping up on crypto exchanges. Copy trading is a really cool feature, with multiple benefits which I outline in the Bitget review. To sum up, neither platform goes above and beyond enough to be a clear winner.