If you’re new to trading and want to invest in the financial markets without the need to study complex charts or spend hours analyzing data, copy trading might be the perfect solution for you, but you would need platforms that come with low fees.
With low fees, you can maximize your profits, as more of your money stays invested rather than going toward high transaction costs.
In this guide, we’ll look into the best copy trading platforms that offer low fees, making it easier for beginners like you to get started.
What is Copy Trading?
Before we look at the platforms, let’s first understand what copy trading is.
Copy trading is a feature offered by many brokers and platforms that allows you to automatically copy the trades of a professional trader.
When the trader buys or sells an asset, your account mirrors these actions in real time. This means you can invest without actively managing your trades.
How Does Copy Trading Work?
When you join a copy trading platform, you can select from a list of experienced traders, often called signal providers or master traders.
These traders have a proven track record, and you can see their past performance, strategies, and risk levels.
Once you find a trader you like, you simply allocate some funds to copy their trades.
Whenever they make a profit or a loss, you do the same, in proportion to the amount you invested.
This system is perfect for beginners because you don’t need to be an expert in trading or spend a lot of time monitoring markets.
As long as you choose a skilled trader to copy, you can passively earn from their expertise.
Top 5 Copy Trading Platforms with Low Fees
Choosing the right copy trading platform is essential for success in the forex market, especially if you’re looking for low fees that maximize your returns.
With so many options available, it’s important to focus on platforms that offer affordability without compromising on quality, transparency, or user experience.
They are as follows:
1. FX Fund Managers
FX Fund Managers is the overall best for investors seeking low fees and a wide range of trading options.
This platform focuses on providing transparent copy trading opportunities with expert fund managers.
FX Fund Managers is known for its low fee structure, which appeals to both beginners and experienced traders.
The platform allows investors to copy experienced fund managers and offers flexibility in terms of account types and risk management tools.
What sets FX Fund Managers apart is its deep focus on customer support and educational resources for beginners.
The platform provides direct access to fund managers, allowing users to ask questions and interact with those they are copying.
This creates a more personalized experience. Additionally, the platform offers competitive spreads and low withdrawal fees, making it an attractive option for those looking to keep their costs down.
Pros
- Low fees and competitive spreads
- Excellent customer support
- Wide variety of fund managers to choose from
- Personalized service and transparent performance tracking
2. eToro
eToro is one of the other copy trading platforms globally. It is especially famous for its social trading features that allow you to easily copy other traders’ strategies.
eToro has a low fee structure for both stock and forex trading, making it accessible to beginner investors. It also offers a user-friendly platform that’s ideal for those just getting started in the trading world.
eToro’s “CopyTrading” feature allows you to search for top-performing traders, view their portfolios, and copy them automatically.
Fees on eToro are relatively low compared to many other platforms, and they don’t charge commissions for stock trading.
However, users should be aware of withdrawal fees and currency conversion costs that might apply depending on their location.
Pros
- Easy-to-use platform
- Low fee structure for forex trading
- Access to the social trading community
- Offers both stock and forex copy trading
3. ZuluTrade
ZuluTrade is another great option for forex copy trading, especially for those who want to access a large number of professional traders.
They offer competitive fees, with pricing that’s designed to be cost-effective for both novice and advanced traders.
The platform provides real-time performance metrics and analytics, helping you choose the best traders to copy.
They offers various pricing plans, including free and paid versions, so users can select the one that best fits their trading preferences.
It’s known for its vast array of traders to follow, and its ZuluGuard feature allows you to set risk management rules to limit potential losses.
Pros
- A large number of traders to choose from
- Real-time performance analytics
- Flexible pricing plans
- Risk management tools
4. Covesting
Covesting stands out for its transparency and easy-to-use interface. It allows you to copy experienced traders across various markets, including forex, cryptocurrencies, and stocks.
Covesting offers a competitive fee structure with low spreads and no commission fees for copying trades.
The platform also offers a unique leaderboard system, which lets you view the best-performing traders.
Covesting users can see detailed stats on each trader’s performance and risk profile before deciding whom to copy.
Pros
- Transparent trader performance tracking
- No commission fees for copying trades
- Offers multi-market copy trading
- Leaderboard system to discover top traders
5. NAGA
NAGA is another great platform that lets you copy professional traders, with an emphasis on forex, stocks, and cryptocurrencies.
It has a competitive fee structure and offers low spreads. One of the key features of NAGA is its social network for traders, which allows you to engage with other traders and share strategies.
They also offers a “Smart Order” tool, which lets users set up automated trades based on specific strategies.
The fees are lower compared to traditional brokers, making NAGA an attractive option for anyone looking to copy trade without high costs.
Pros
- Social trading network
- Low spreads and fees
- Automated trading tools
- Transparent trader performance
How to Choose the Best Forex Copy Trading App for You
When looking for the best forex copy trading app, it’s important to consider the following factors:
1. Reputation and Reviews
Look for platforms that have a strong reputation and good reviews from users. Popular platforms like have been trusted by millions of users worldwide.
2. Transparency of Trader Performance
The platform should provide clear and transparent data on trader performance, including risk levels and trading history. This helps you make informed decisions about who to follow.
3. Ease of Use
Choose a platform that is easy to navigate, especially if you’re a beginner. Look for a user-friendly interface that allows you to copy trades with minimal effort.
4. Risk Management Features
Risk management tools are essential for protecting your investment. Features like stop-loss and the ability to set investment limits can help you control your exposure.
Frequently Asked Questions
1. How do I start copy trading?
To start copy trading, choose a platform like FX Fund Managers. Create an account, deposit funds, and browse through traders to copy.
Once you’ve selected a trader, allocate the amount of money you want to copy them with. Your chosen trader’s trades will automatically be mirrored in your account.
2. Are there any fees for copy trading?
Yes, most copy trading platforms charge fees. These fees vary, but typically include spreads, withdrawal fees, and, in some cases, commission fees on profits.
Always check the fee structure of the platform you choose.
3. Is copy trading a good way to make money?
Copy trading can be profitable, but like all forms of trading, it comes with risks. The key to success lies in choosing the right traders to copy.
Research their performance history, risk level, and trading strategy to make informed decisions.
4. Can I lose money in copy trading?
Yes, you can lose money in copy trading. Although you’re copying experienced traders, their trades are still subject to market risk.
It’s important to use risk management tools and only invest money you can afford to lose.
Conclusion
When considering the copy trading platforms with low fees, FX Fund Managers is a fantastic options that cater to different trading preferences.
Each of these platforms offers a unique set of features, from low fees to user-friendly interfaces, and provides plenty of opportunities to copy the strategies of successful traders.
If you’re just starting out in the world of forex copy trading, it’s crucial to choose a platform that aligns with your investment goals, risk tolerance, and preferred trading style.
Start small, do your research, and always remember that trading involves risks.