Crypto trading has gained lots of popularity in the last few years, and so did copy trade crypto softwares and crypto trading bots. These softwares are a great opportunity for beginner crypto traders to earn money without having extensive knowledge and experience.
The Traders Union experts have created a rating of the best crypto copy trading software in 2022 based on their reliability and copy trading capabilities to help beginner crypto choose the best social trading cryptocurrency software.
What is Crypto Copy Trading?
Crypto Trading, also called social trading, is the action of automatically copying another trader’s trades through special software. This is done through a copy trading software that lets those traders connect their trading accounts to a trading network. When the trader that is responsible for that network makes a trade, that trade is automatically copied in a specific proportion set by each trader by the other trading accounts connected to that network. Similarly, crypto copy trading refers to the action of copying crypto trades executed by other traders.
Main Types of Crypto Copy Trading Software
Crypto copy trading softwares play an important role in automating the trading process and making it easier for beginner crypto traders to make profits without doing intensive market analysis and taking big risks. But there is not just one type of copy trade crypto software. Here are the three main types:
Cryptoexchange’s Software
This type of crypto copy trading software is offered by specialized crypto exchanges, which support multiple cryptocurrencies and crypto pairs. This allows beginner traders to profit from price increases of different cryptocurrencies while copying the trades executed by more experienced traders.
Copy Trading Bots
This type of software is usually created by third-party companies and can be integrated with certain crypto exchanges. These softwares have trading bots that automatically execute trades based on specific instructions. They also can have a crypto copy trading feature for copying another trader’s trades. These softwares can be free or paid.
Crypto Broker’s Software
This type of crypto trading software is offered by online brokers that support cryptocurrencies, and it has similar benefits to cryptoexchange’s software.
Top 6 Softwares to Copy Trades in Crypto Markets
The TU experts chose the best crypto copy trading softwares and compiled a rating to help you choose the best one for you.
| Minimum Deposit | Type of Software | Supported exchanges | Subscription terms | Features | |
|---|---|---|---|---|---|
| eToro (Copy Trader) | $200 | A proprietary platform of crypto exchange | eToro | Free | A huge social network of traders; Ability to copy trade other markets |
| CryptoHopper | $19 to $99 per month | Crypto trading bot designer | Coinbase Pro, Binance, Binance US, Kraken, BitFinex, and some other | Free | Extensive tools |
| Zignaly | $0 | Crypto trading bot, crypto copy trading software | Binance, KuCoin | Free | Profit-Sharing, free bots |
| Gate.io | 0.0001 BTC | A proprietary platform for crypto trading | Gate.io | Free | Low fees |
| 3Commas | $0 | Crypto trading bot builder, crypto copy trading software | 13 exchanges, including Binance, BitFinex, and Coinbase Pro | Free plan, packages range from $29 to $99 per month | Ability to use other trader’s bot |
| PrimeXBT | $0 | A proprietary platform for crypto copy trading | PrimeXBT | Free | High-speed operations, advanced functionalities |
eToro (Copy Trader) – Best For Crypto Copy Trading
eToro Copy Trader is a social trading software created by the popular eToro online broker to help beginner traders earn more by copying the trades executed by more experienced traders. While being a very popular online broker, eToro is also regulated by three major regulatories, which are: CySEC in Europe, FCA in the UK, and ASIC in Australia.
It is absolutely free to use the Copy Trader software, and you do not have to pay anything for copying other traders, but you have to deposit at least $200 in your eToro account to trade with this broker.
eToro Copy Trading is considered the best platform for copy trading because it has one of the largest social trading networks for generating passive income. It stands out for its low entry threshold, favorable trading conditions, excellent functionality, and simplicity. It also has one of the most advanced methods of selecting which trader to copy.
CryptoHopper
CryptoHopper is a good option for automated crypto trading if you’re looking for a crypto trading bot builder or crypto copy trading software. For automated crypto trading, CryptoHopper has some of the most reliable crypto trading bots. This crypto bot executes trades on your cryptocurrency exchange account based on the instructions you provide.
This crypto bot has three pricing plans: $19/month, $49/month, and $99/month. There is also a free version with limited functionality.
This crypto trading bot does not work with all cryptocurrency exchanges. It is, however, compatible with Binance, Coinbase Pro, Bittrex, and a few other exchanges. It supports the trading of Bitcoin, Ethereum, Litecoin, and other popular cryptocurrencies.
The exchange bots are adaptable and constantly evolving, catching trends and responding to signals perfectly. The bot’s behavior can be programmed to follow a specific strategy.
There is also a feature for social trading that allows its users to automatically execute the trades recommended by signal providers, called signalers, which can be free or paid.Try CryptoHopper Now
Zignaly
Zignaly is a relatively new crypto trading software, launched in 2018, that allows crypto traders all over the world to copy other traders’ trades, and use crypto trading bots for free.
With Zignaly’s copy trading platform, you can copy a big number of traders from its social trading network. You can also view a big amount of relevant information while studying their profiles, such as profitability for certain time frames, number of copiers, and other types of previous performance.
Zignaly also has a Profit Sharing feature that allows its users to allocate a certain amount of money to a trader, and when that trader opens a position, a part of that money is spent in that trade. When that trader closes the position with a profit, he gets a certain amount of that profit, and the rest is proportionally spread to the people who allocated him money. The trader’s commission is different for each trader, but most traders take around 20% of the profits. This fee is charged only when the trader makes a profit, and Zignaly takes 5% from that commission.
Using Zignaly, crypto traders can also connect a trading bot to a signal provider compatible with Zignaly. These signal providers can be free or paid.
Zignaly is also interested in offering its users the best protection. Zignaly can not access your funds, and it uses RSA encrypted API keys to connect your Zignaly account to your brokerage account. It also requires its users to use 2FA (two-factor authentication) to log into their Zignaly account and to withdraw funds.Try Zignaly now
Gate.io
Gate.io is a cryptocurrency exchange that has been in operation since 2013 and is licensed and registered in the Cayman Islands. It uses a KYC type verification, author’s data encryption protocols, and only cold storage for cryptocurrencies is available. All those security measures prove that Gate.io is interested in protecting their user’s funds, and it can be considered secure.
Even though its crypto copy trading software is relatively new, being launched in January 2022, it is already a very popular one. There is a pretty large number of great crypto traders on Gate.io whose trades you can copy. The best of those traders are classified in different categories, such as Top Gainers or Most Copied, to make it easier for other traders to choose whom to copy based on their preferences.
Each trader has a detailed profile that contains information about their rate of return, return amount, the total number of trades they placed, the history of all the trades they have placed, the number of traders who copy them, the total amount of money they invested, and their total return.
Overall, this is a great software, and you should feel free to use it, but you have to know that the traders you copy keep 5% of the profits they make for you.
3Commas
3Commas is a cryptocurrency trading bot builder that assists you in increasing profits while decreasing losses and risks. This program enables you to earn money with minimal effort. It enables you to create a strategy by combining more than 20 trading indicators. 3Commas lets you sell and buy coins in the same window, trade 24 hours a day, and copy the settings of other bots.
Its copy trading software allows you to copy the trades executed by a trading bot created by other traders. Basically, it means that you can use a crypto trading bot created by another trader. You can also view a lot of useful information about the bot before you decide to copy it.
3Commas has a free plan that offers limited functionality and three paid plans ranging between $29/month and $99/month. Each plan has a three-day free trial.
PrimeXBT
PrimeXBT is a crypto exchange that allows its users to trade a big variety of cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Tether, and others. All crypto assets can be bought and sold for US dollars. Although PrimeXBT is not regulated by any regulator, it ensures its users’ security by keeping their funds in cold wallets and using other security methods, such as 2FA (two-factor authentication), regular security checks, full risk checks after every order is placed, and others.
This broker has created its own trading terminal, called PrimeXBT, which has a built-in copy trading function for copying trades. The PrimeXBT terminal is distinguished by its high-speed operations and advanced functionalities.
You get a decent amount of information you can use for selecting the traders you want to copy, such as the total profits, the profits for that day, how many days they have been active, the number of followers they have, their followers equity, and a performance chart.
There is a fee for using PrimeXBT’s copy trading software, which is only charged when the trader you copy makes a profit. The trader you copy always receives 20% of the profits he makes for each of its followers, and this motivates them to place as successful trades as possible. Then, depending on the amount of money you allocated for copying a trader, the broker takes between 5% to 20% of the profits gained from copying other traders.
How to Choose a Crypto Copy Trading Software
Before you choose a copy trading software, you should pay attention to different criteria to make sure you choose the best one. Here are the most important aspects you should consider before choosing a crypto copy trading software:
The size of traders network
When choosing a copy trading software, the size of the traders network should be a key factor to consider. A big traders network usually indicates a big choice of great traders you can copy and a good indicator of a great software.
Costs
You should also pay attention to the costs charged by crypto copy trading softwares for using their services. It shows you how profitable it is to copy other traders using that software. While crypto copy trading is free with certain softwares, some softwares or traders might charge you a part of the profits made through copy trading. This is not always a bad thing because it motivates traders to place more successfully, but you should be aware of exaggerated costs.
Reliability
You should only use a reliable crypto copy trading software if you want to receive a good experience and make sure that your funds are safe while using that software. The best way to check a software’s reliability is to read reviews from its previous users. If a software has too many negative reviews, it is probably because there is something wrong with it.
The crypto exchanges supported
When choosing a third-party crypto copy trading software, you should check if it can be integrated with the crypto exchange you are currently using or you want to use. Usually, these softwares are only compatible with the biggest crypto exchanges.
