5 Best Copy Trading Platforms in Australia

Copy-trading, also popularly known as social trading, is all about copying trades of expert traders. Many exchanges in the crypto market provide crypto copy trading options to their traders. Therefore, here are some of the best copy trading platforms in Australia:

Also read, Top 10 Platforms to Choose as a Copy Trader

What is Copy Trading?

Copy Trading is day by day becoming a more popular trading option. It is among the most successful and most accessible methods to make a profit from cryptocurrency, forex platforms, and the stock market.

This trading doesn’t need you to spend a lot of time researching market charts as you can simply generate income via copying expert traders. You can just copy the actions and strategies of professional traders to earn some profit without spending much time.

Traders can learn trading faster through this technique and can also reduce their risks. Copy trading is now available in almost every country around the world.

BYDFI: 1st Best Copy Trading Platforms in Australia What is BYDFI?

BYDFI is a very well-known crypto derivatives trading platform that was established in the year 2014. It likewise gives access to the global crypto market through CFDs, copy trading, and spot trading. BYDFI is situated in Singapore and has an enormous organization covering more than 150 nations, and for this reason, it permits its traders to trade independent of their country. Moreover, the platform’s basic User Interface and amateur guide present on their site assist users with getting the way out with the site.

VISIT BYDFI BYDFI

Also read, BYDFI Copy Trading – An Ultimate Guide

BYDFI: Features

• In order to encourage their users, BYDFI trading offers a 258 USDT invite reward whenever a user signs up for an account.
• A full refund warranty is proposed to every one of the traders.
• The platform offers its users to try their website with a demo account. 
• With BYDFI margin trading, you can leverage up to 125x on cryptos and about 200x on derivatives.
• The platform allows traders to enjoy crypto-to-crypto trading, further allowing them to purchase prominent cryptocurrencies.  
• Their website is simple, easy to use, and gives a fast trading experience to its users.

Features of BYDFI

Also, read BYDFI Review: Is it Safe or Legit?

BYDFI: Fee Structure

Spot handling fees:

• Maker’s fee is 0.1%
• Taker’s fee is 0.1%
• Conversion fee is 0.1%

CFDs:

• The transaction fee is from 0.75% to 0.05%.
• Opening and Closing fee of the platform= Margin*Leverage*0.05%.
• When opening a position in BYDFI, it will charge 0.1%. 

Derivatives:

• Opening and Closing fee of the platform= Margin*Leverage*0.025%.
• When opening a position in BYDFI, it charges 0.05%. 

BYDFI: Pros and Cons eToro: 2nd Best Copy Trading Platforms in Australia What is eToro?

eToro is a multi-asset and popular platform that offers both investing in crypto-assets and stocks and trading CFD assets. The platform is authorized and regulated by a lot of different countries, including the United States and by the FCA in the UK. eToro is unique and came into the picture in the year 2007.

Moreover, eToro allows you to follow and copy other traders, and the crypto portfolio is also an interesting product offered by the platform. In addition to this, eToro offers its users a mobile cryptocurrency wallet available for Android and iOS and allows them to trade and transfer funds. 

VISIT eTORO eToro

Also, read eToro vs Shrimpy – Best Profitable Social Trading Platform

eToro: Features

• eToro gives users an option to set price alerts.
• The platform allows access to investors and traders to over 2000+ different financial assets, including cryptocurrencies, indices, stocks, commodities, ETFs, currencies, and limit orders. 
• Traders can make use of eToro’s copy trading option and copy trades from experienced traders. 
• Moreover, it lets investors and traders interact with each other, share insights, copy trading strategies, ideas, and even make new friends.   
• Traders here can easily invest in their favorite stocks with 0% fractional shares and commission. 
• There are various authorities around the world to regulate the platform. 

Features of eToro eToro: Fee Structure

The eToro copy trading platform has a fee structure that is quite simple and straightforward. There is no management, ticketing fee, deposit fee, markup, or stamp duty. The platform charges a straightforward and transparent fee of 1% for purchasing and selling cryptos. In addition to this, eToro charges a low fixed fee for withdrawal, which is $5, and the minimum withdrawal amount is $30. Further, the platform also charges an inactivity fee of $10/month if there is no login activity after 12 months.

Fee Structure of eToro

Also read, Best eToro Alternatives

eToro: Pros and Cons BingX: 3rd Best Copy Trading Platforms in Australia What is BingX?

BingX is a popularly known crypto social trading exchange that came into the picture in the year 2018. They have the ambition to become the best social trading network in the world for trading cryptocurrencies. BingX has obtained regulatory approval from key markets and several more to come.

The platform is a customer-centric, secure, and mutually beneficial ecosystem for traders along with it the platform serves over 100+ countries. Furthermore, the platform also provides an automatic copy trading function, forex copy trading, commodities, global indices, and other contract trading products. 

VISIT BINGX BingX

Also, read BingX Review: Is it the Best Crypto Social Trading Platform?

BingX: Features

• With the help of one click and ‘Exchange’ options, traders can easily trade one cryptocurrency to another. 
• BingX copy trading platform works perfectly on both desktops and laptops and provides traders with a modern yet user-friendly and simply designed interface. 
• The platform also provides its traders with charts that include multiple charting tools, indicators, and overlays. 
• Whenever you create a new user account on BingX, they provide virtual-based coins to users, i.e., 100,000 VSD tokens. These tokens that users get can be traded on the platform without making an actual deposit. 
• All BingX traders are provided with a Copy-trading option. With this option, you can follow some of the good strategies of professional traders and then copy them to make profits. 8% of the total profits generated are given to professional traders for sharing their strategy. 
• Furthermore, BingX also offers exposure to traditional markets. As a result, price movements of markets such as indices, forex, and commodities can be speculated. 

BingX: Fee Structure

1. Trading Fees: BingX charges a trading fee of 0.075% for both the opening and closing of a position. In order to calculate the trading fee, the platform multiplies the trade volume by 0.075%.

2. No deposit fees at BingX.

3. Withdrawal Fees: The BingX platform charges a withdrawal fee of 0.007 ETH and 0.0005 BTC to transfer ETH and BTC. Therefore, a stable coin withdrawal fee on BingX is as high as 28 USD per transaction. 

BingX: Pros and Cons Bitget: 4th Best Copy Trading Platforms in Australia What is Bitget?

Bitget is a cryptocurrency exchange that still stands straight and registered in Singapore since 2018. It offers derivate trading, copy trading, and spot trading globally. Bitget has about 1.5 million users and has also acquired licenses from Australia, the USA, Singapore, and Canada.

Moreover, traders can make use of the Bitget application on their desktop devices or on their mobiles. Hence, there is no need to, again and again, access the exchange’s website.  Read, Bitget Review to know more.

VISIT BITGET Bitget Bitget: Features

• Bitget provides us with just a one-click copy trading option. Moreover, there are thousands of traders whom you can follow and get started with copy trading to gain good profits. 
• The platform also stands in support of Quantitative trading. Moreover, traders can also make use of Gunbot in order to automate their trades at Bitget completely. 
• Moreover, the platform also offers more than 20 perpetual contract trading pairs to its traders. 
• The Quanto swap contract feature of Bitget allows traders to use multiple crypto assets as their collateral while trading on leverage with multiple trading pairs. 
• The platform controls risk with hot and cold wallets segregation. Moreover, they have 12 A+ ratings from SSL Labs. 
• Furthermore, the platform provides 24 hours multilingual customer support service. 

Features of Bitget Bitget: Fee Structure

1. Spot Rate: Both the maker and the taker charge a fixed fee of 0.10%. If you choose BGB payment, your transaction fee will be reduced by 20%. Furthermore, when the BGB balance is insufficient to support the transaction fee, the transaction fee will be paid in full accordance with the original method. 

2. Withdrawal Fee: The withdrawal fee is different for different cryptos for BTC it is 0.0006 and the minimum withdrawal amount will be o.oo1 BTC. Similarly, the fee varies for cryptos. You can refer to the table below:

3. Futures Trading: For futures trading, the maker charges a fee of 0.02%, and the taker charges a fee of 0.06%.

Fee Structure of Bitget

Also read, 3 Best Futures Trading Bots | Future Bot

Bitget: Pros and Cons ZuluTrade: 5th Best Copy Trading Platforms in Australia What is ZuluTrade?

ZuluTrade is a FINVASIA Group company and is one of the most innovative Social and Copy Trading platforms in the world. The platform is proud to be one of the most transparent platforms. ZuluTrade began its journey to the crypto market in the year 2007.

Moreover, they offer a smooth and simplified Copy Trading experience with exciting options like Combos, Investment Baskets, and Traders across multiple instruments, including Commodities, Cryptos, Stock CFD’d Forex, and Indices.

Furthermore, their main aim is to become the world’s largest and best social trading platform on the globe, offering an open environment and customer-focused investment solutions. They want traders to connect on a global level to any trading platform and share their knowledge. 

VISIT ZULUTRADE ZuluTrade ZuluTrade: Features

• ZuluTrade’s website is one of the easiest to navigate. They have a copy trading feature in the Invest tab. Further, there is also a Learn tab for those who are new to the site and platform. The website is well designed for new traders. 
• The platform offers the highest leverage of up to 500x for USD and Bitcoin pairs. 
• They have highly rated 24*5 Customer service motivated for your success. 
• The platform is licensed and regulated in the EU, the USA, and Japan. 
• Moreover, there is hustle-free investment using their Portfolio Management Service with Combos+. 
• The platform offers its traders with ZuluGrad, an account protection feature that monitors each trader’s behavior. It will automatically remove a trader when it detects that a trading strategy has deviated from its expected loss profile.  
• Furthermore, ZuluTrade provides you with automated trading software. This feature will help make faster calculations, non-stop trading, integration with a trading interface, backtesting feature on historical data, and testing formula. 

Features of ZuluTrade ZuluTrade: Fee Structure

ZuluTrade needs a minimum deposit amount that one should keep while opening an account depending on the broker that you choose to collaborate with. Further, your balance should always exceed $100 to maintain your broker investment account connected with ZuluTrade. There are two types of investors account:

1. Classic Accounts: There are no charges for these accounts. When following a trader, the investor will not pay any additional fees. ZuluTrade compensates the trader. 

2. Profit-Sharing Accounts: In this, ZuluTrade charges a monthly subscription fee of $30. There are no increased commissions or spreads from the brokerage. 

ZuluTrade: Pros and Cons Conclusion

Copy-trading has surely taken the crypto market to a new height. It has given a chance to those traders who only dreamt of trading cryptos and gaining profits from them. In this article, “5 Best Copy Trading Platforms in Australia” we tried to collect some of the best copy trading platforms available in Australia to make you more confident about cryptos. Hope the above knowledge will help you find the perfect platform that will help fulfill all your needs. 

Frequently Asked Questions Is Copy Trading illegal?

No, copy-trading is not at all illegal; instead, it allows novice traders to get familiar with the working of the crypto market. New traders can take this as an opportunity to learn more by observing expert traders and can gain profits from their strategies. 

How can I communicate with other ZuluTrade users?

You can easily communicate with other ZuluTrade users through the comment section of a trader’s performance page or connect to the forum where users can talk about everything related to ZuluTrade. Moreover, you can also use the Social charts section to discuss the trades executed by the traders.

How does copy trading work?

Copy-trading in any platform consists of many experienced traders with thousands of trading strategies. You can simply follow these traders according to your needs and then copy their strategies to earn profit. Moreover, you can also glance at all the transaction details and track the history just to get more insight into trading. 

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