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Top 5 best alternative eToro copy trading with low risk

January, 15th 2024

eToro copy trading

At present, where everything is getting digitalized including currency, the urge to earn digitally has exploded. In this era of digital trading, eToro copy trading needs no introduction. But what about eToro copy trading alternatives exhibiting distinct traits at the most profitable yields? Undoubtedly, eToro is one of the well-reputed copy trading platforms for social investment worldwide.

However, this frontier has some drawbacks along with numerous benefits. These imperfections tend to switch to eToro copy trading alternatives. This extensive guide is all about eToro copy trading , its pros and cons, and considerable factors to pick up its alternatives. To ease your research, we have listed the top 5 best alternative eToro copy trading with low risk.

What is eToro?

eToro is a popular forex trading platform important for its Copy-trading, besides asocial trading and expenditure linkage platform. Still, it is not without some flaws. A lot of cryptocurrency specialists are looking for an option that offers lower fees and more undemanding withdrawals.That’s why people are contemplating for best alternatives to eToro copy trading. Let’s have a look at what eToro is good for, and what are its cons.

Pros:

The platform is perfectly suitable for a thrilling social experience.
It allows you to simulate the trading strategies of more professional traders.
eToro doesn’t impose commissions on ETFs and Stocks
Several educational resources are available to move your assets from the platform.
Top-tier copy trading features save you time.

Cons:

A minimum budget of $200 is required to start copy trading.
Extremely high fee for a few digital currencies.
Insufficiency of investment opportunities such as stocks.
Substantial spread fees at eToro.
The lowest investment for crypto trading is at least $10, which is a troublesome amount for low-budget people.

Factors to Consider in eToro Alternatives:

Everyone is considering eToro copy trading alternatives, but how to select its alternative is important to know. Let’s take a glance at all the factors when choosing eToro alternatives.

Cost:

Online providers charge different types of fees and the amount and size of fees vary as per online brokerages. If talk about eToro, this platform is the cheaper one and comes up with the lowest fees. Bear in mind the number of fees can affect your returns and your overall trading experience. This is an important consideration, so make sure to go for a minimum-cost eToro copy trading alternative.

Account Opening:

Most of the time, copy trading platforms require at least €50,000 to be invested, while others charge heavy first-time deposits. Besides, account opening time can vary according to the provider you choose. eToro is flexible in this regard, your account gets opened on the day of registration.

Payment Method:

The methods available to you for depositing or withdrawing money to and fro from your account arevital to consider. Credit card is the most reliable and easiest payment method throughout the world. At eToro, depositing via credit card is acceptable. Try to find the same deposit method in eToro alternatives.

Multiple Web Resources:

In online providers, you are facilitated with several web platforms such as mobile apps, desktop software, or tablet apps. Most people proceed with utilizing the providers’ web platforms in a browser. This easy-to-use approach of trading brokers offers you trading comfort and experience.

Products Acceptance:

A great deal of people have particular products they would like to invest in online copy trading platforms. So, you must focus on theavailability of stocks, forex, mutual funds, and other products in thealternative platforms.

Best 5 eToro Copy Trading Platforms:

Undoubtedly, eToro is one of the industry-leading copy trading platforms around the globe. However, some of its best copy trading alternatives have been introduced in the digital marketplace. It’s time to dive into the details of eToro copy trading alternatives and their significance in the most important areas. Let’s traverse our journey in exploring all the best eToro alternatives.

AvaTrade
ZuluTrade
Plus 500
Vantage
Bitget

1. AvaTrade:

Established in 2006, and regulated across 9 jurisdictions, AvaTrade is well-knownas an eToro copy trading alternative. This leading forex and CFD broker is linked up with the provider processing over 2 million trades every month. With a community of 400,000 users, this cross-platform offers resources like MT4, MT5, and an exclusive Web Trader.

Belonging to AvaGroup, this platform recognizes differently with over 1250 financial instruments for day trading. Besides, the multi-language customer support service and extensive education center are exceptional. Its head quarter exists in Australia, but its subsidiaries are available around the globe.

Pros:

For a depositor, AvaTrade is a great platform with affordable fees.
The company has a good reputation worldwide with an accurate legal record.
It offers a wide range of specified assets.
There is an opportunity for traders to use a leverage of 400 to 1 (Excluding EU).
The legal maximum at this platform is 30 to 1.

Cons:

The platform doesn’t facilitate US customers.
Trade execution is not guaranteed with AvaTrade.

2. ZuluTrade:

ZuluTrade is a leading copy trading tool competing the eToro with an easy-to-use interface and carries a good reputation. When it comes to copy trading with ZuluTrade, traders have access to an abundance of data. This is an all-inclusive platform that provides enough knowledge to learn how to trade in the beginning.

This provider is distinct regarding a variety of customizable tools. For example, you are allowed to fine-tune stop-loss and take-profit orders on the traders that you copy. The supported markets include forex, indices, commodities, stocks, and cryptocurrency.

Pros:

This platform supports crypto, stock indicators, forex, and commodities.
It proves as the best social feed.
Charges no fees on the classic account.

Cons:

No transparency on the commission.
A restricted number of successful traders are on the platform.
$30 per month is required for profit-sharing accounts.

3. Plus500:

Plus500 is an acutely well-assess and trusted commission that is even listed on the London Stock Exchange and is a member of the FTSE 250 Index. Plus500 has a simple and easy-to-use mobile application and various accounts are present, excluding demo accounts. There are countless filters to choose from to make certain users get exactly the result they are looking for and buy/sell buttons on the same screen to exploit.

Distant from that feature, Plus500 allows users to trade more than 2,000 stock CFDs along with an extensive range of currencies, materials, indices, options, ETFs, and more. The platform provides all-inclusive charting tools with more than 100 technical measures and a real-time news feed. Plus500 has currently launched a new copy trading feature, +intuition, which allows users to choose a trend to evaluate and then shows an optical scale with the results shown top to bottom. It is one of the world’s leading CFD trading platforms and is managed by the British Financial Conduct Authority (FCA).

Pros:

Authentic platform worldwide
Regulated thoroughly
The latest copy trading attributes
The broad range of instruments
Easy to navigate

Cons:

It does not offer MT4 or MT5 platform

4. Vantage:

Vantage is one of the best eToro copy trading alternatives with a recognized well-being in the market. It is regulated under the UK Financial Conduct Authority and the Australian Securitiesand Investment Commission. Along with copy trading, it’s best in respective of CFD trading featuring zero-commission at a basic account.

Secondly, your account is free either you deposit, withdraw, or remain inactive. The least contract size is 0.01 and leverage of up to 500:1 for major currency pairings, makes it a perfect choice for larger bets. Vantage comes up with various products including futures, indices, commodities, currencies, and equities.

Pros:

Three different platforms for social trading like copy trading are available.
100% commission-free CFD trading.
Supports MetaTrader 4 and 5 and features ECN accounts.
Vantage is regulated in Australia and the UK, which is a plus point.

Cons:

Most of the users complain about its slow working.

5. Bitget:

This eToro competitive platform, launched in 2018, has become a reliable source for copy trading in 2024. Investors can browse a leader board of the best 500 traders and select to copy trade one or more. At Bitget, the leading trader is followed by 1,000 members with a return on investment (RIO) of more than 1500%. Besides the trader’s RIO, profit and loss (P&L) in dollars and the combined PNL of their copy traders are also visible.

Bitget’s tagline makes it easier to copy trade for novices providing a comprehensive guide on how to copy trade on its official website. Holding a U.S. MSB license, regulated by FinCEN/Canada MSB license, sets up the parameters required like risk controls, price targets, and order placement method.

Pros:

More than 600 crypto tokens and 700 trading pairs are available.
Top-notch features are introduced like trading bots and copy trading.
Multilingual support for global customers and a user-friendly interface.
Strong security measures are followed including a $410 million Protection Fund.

Cons:

Unavailable for some countries including Canada and the USA.
The Bitget hack occurred in December 2022 and resulted in a loss of $8 million.
It doesn’t support low-cap or new altcoins for trading.

Bottom Line:

In recent times, eToro is an international growing platform for copy trading. The reliability is guaranteed but drawbacks are also a fact. The market has been flooded with eToro copy trading alternatives now. This thorough article includes all the top-pick copy trading platforms competing with eToro,based on their significant features. I hope this page will prove beneficial in going for the best eToro copy trading platforms as the ultimate companion.