With copy trading, investors can automatically replicate the trades of successful peers. It grew in popularity among retail traders after it evolved from automated trading in 2005. It has only evolved and thrived since then. This article will list the best copy trading platforms in September 2022.
FXTM is home to over 2,000,000 traders and has excellent execution statistics confirmed by PricewaterhouseCoopers Limited, a Big Four accounting firm (PwC). Among brokers, the commission-based pricing structure is still among the most trader-friendly. Moreover, the Loyalty Program, up to a maximum of $10,000, allows active traders to reduce costs further.
FXTM Invest specializes in copy trading, and FXTM has dedicated a guide to maximizing returns. FXTM prioritizes education, and it was named Best Education Provider 2020. It also conducts high-quality research while expanding its product and service offerings.
OctaFX is another popular option for copy trading, and it uses its proprietary system. Even though it is an unregulated broker, it has a growing client base. More than 1,500,000 accounts indicate that this broker provides a safe trading environment. In addition to the market leader MT4, its failed successor MT5, and the ECN’s favorite cTrader, traders can choose from three different trading platforms.
All three trading platforms fully support automated trading solutions, and while OctaFX uses its proprietary copy trading system, all trading platforms include copy trading functionalities and communities.
Since its beginnings in 2005, fpmarkets has been a reputable member of Australia’s financial services industry. For most investors, this broker stands out because of the extensive selection of tradable assets it provides. These assets include more than 10,000 different stocks and shares, including those of publicly traded Hong Kong and Australian companies.
Fpmarkets also offers trading in primary commodities, 11 different stock indices, 60 different Forex pairs and crosses, and five different cryptocurrencies (including Bitcoin). fpmarkets offers a novel hybrid ECN/STP execution model, giving their customers the option between two execution types: the fast, low-latency ECN execution style and the lower-latency, higher-spread STP style.
Established in 2014, BlackBull Markets is a New Zealand company. BlackBull Markets is a raw spread and commission ECN broker, like many other Australian Forex brokers. They offer leverage of up to 500:1 on certain Forex currency pairs, and they are registered with the Financial Services Providers Register (FSPR) in New Zealand, allowing them to legally conduct business there.
BlackBull Markets, which is headquartered in New Zealand, has a presence in both the New York and Malaysian markets through its branch offices and headquarters, respectively. 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and six major equity indices are the only tradable assets offered by BlackBull Markets. For traders whose strategies are narrower in scope and do not require extensive diversification, that should be adequate.
Best Trading Platforms In Australia revealed: A 2022 review
eToro – Australia’s Overall Best Trading Platform:
eToro is a user-friendly online broker with over 17 million investors trading go on the platform. The provider offers a wide range of asset classes, both traditional and CFDs. In terms of the former, this includes over 2,400 stocks from 17 marketplaces and is one of Best Trading Platform Australia.
Stocks traded on exchanges in the US, UK, HK, and a number of European countries are just a few examples. There are over 250 different exchange-traded funds (ETFs) and 16 different digital currencies available for trading (exchange-traded funds).
Whether you’re looking to short sell or increase your leverage, eToro has the CFD instruments you need. CFDs can be traded on stocks, ETFs, cryptocurrencies, commodities, currencies, and indices. You won’t have to worry about paying any commissions to eToro when buying and selling your chosen instrument, whether you’re using it for investing or trading.
There are no monthly or annual platform fees to worry about, and deposits are only 0.5% of what you initially deposit. This means that by 2022, eToro will be one of the most cost-effective options for Australian traders. Traders in Australia like eToro because of the many automated investment tools it offers.
Capital.com – Best Trading Platform for Beginners in Australia ($20 Minimum Deposit)
Some of you reading this will be first-time traders. You should stick with a highly regarded Australian trading platform aimed at newcomers in this case. In this regard, Capital.com is unparalleled.
To get started, the website has a wealth of resources for new traders. Several short courses are included in a mobile learning app. The provider’s proprietary trading platform, Capital.com, is also very user-friendly.
Find the market you want to trade in and enter your buy or sell instructions. There is no need for a seasoned pro to have any prior knowledge of technical terms or concepts to fill out an order form. The minimum initial investment with Capital.com is just $20, which is a major plus.
It comes out to about $26. This means you can start trading with real money while exposing only a small portion of your wealth to risk. An excellent simulation of live market conditions is available as a demo account on Capital.com as well. In terms of available financial instruments, Capital.com is particularly strong in Contracts for Difference (CFDs).