Copy trading allows you to replicate the positions of another trader directly. You determine how much to invest and duplicate what they do in real-time – when that investor makes a trade, your account will make the same move.
Copy trading has also made its way to India. A trader in India can duplicate deals on local or globally regulated platforms that accept Indian clients. You can benefit by copying trades on India’s most outstanding copy trading platform.
In this guide, we will highlight the best platform for copy trading in India as recommended by experts Traders Union. Continue reading to learn more.
What is Copy trading?
Copy trading is a strategy in which traders can replicate positions maintained and launched by other investors. According to Traders Union, copy trading has numerous advantages, including:
- displaying trade metrics of investors who can be copied
- allowing traders to spread equity across numerous traders using various trading instruments and tactics;
- providing the option to cease replicating deals when a specified level of risk tolerance is reached;
- Setting the maximum risk level for specific assets.
Traders can make money by copy trading using modern platforms and this strategy. It is an excellent approach for seasoned and inexperienced traders to diversify their portfolios and maximize profits.
Best Copy Trading Platforms in India
In India, there are numerous copy trade platforms. These platforms are regulated and contain a variety of features.
According to Traders Union, the top three copy trade platforms in India are mentioned below.
RoboForex is India’s best copy trading platform for newbies. It contains 12,000 instruments and eight asset classes. Traders on RoboForex can customize their copy trading choices to include their chosen features. The finest traders to copy may be seen on RoboForex’s Traders Rating tab. You can filter the results by the items you wish to see if you want to see specific assets or instruments.
RoboForex is governed by Belize’s regulatory authority. It is, however, less regulated than the other sites on this list. Its “Traders Rating” feature assists traders in locating the finest traders to emulate.
eToro is regulated in the United States, Australia, and Cyprus. This broker established the world’s largest social trading network. Its user-friendly site includes a plethora of trading tools. A $50 minimum deposit is required at eToro. A separate account is not required for copy trading.
Over 2,000 instruments are available on the platform, including CFDs, cryptocurrencies, and Forex. It is a worldwide known and authorized broker that offers copy trading over the web or mobile devices. It also provides precise statistics on signal sources and extensive risk management settings.
AvaTrade is a well-known social and copy-trading platform. The top seven international bodies govern it, including the Central Bank of Ireland. AvaTrade and MQL5, DupliTrade, and ZuluTrade provide the most outstanding trading services.
The platform is well-regulated and secure in India. AvaTrade includes a tool that ranks each copy trading signal provider.
A trader can also view other traders’ trading histories and risk management approaches and set risk limits based on risk tolerance.
Is copy trading profitable in India?
Copy trading in India can be rewarding if you use the right platform, employ sound risk management measures, and stay current on market developments. You can potentially enhance your profits by following successful traders and using their knowledge.
However, you should conduct your research because copy trading contains dangers and should not be viewed as a get-rich-quick plan. With the proper strategy, copy trading may be an excellent technique for increasing your profits in the Indian markets.
Is copy trading free in India?
eToro offers free copy trading; nevertheless, there is a small standard cost. Depending on the platform, the minimum deposit for copy trading in India ranges from $5 to $200. Copy trading platforms do not charge for account creation; instead, they charge management fees.