If you’re looking for the best copy trading crypto platform in the UK, you’ve come to the right place. With the popularity of cryptocurrencies, everyone wants to get exposure to them. One option is to buy and hold. However, there’s a lot of money to be made by trading. But not everyone has the time to trade. This is where copy trading comes in. You can follow a trader of your choice with copy trading, and the exchange executes their trades automatically. It is extremely safe because the trades are executed on your account, with the trader getting a small percentage of your profits.
Things to keep in mind:
- Ease of Use: An easy-to-use interface is a key part of a copy trading platform. It might not be the first thing that comes to mind when choosing a copy trading service but can make a significant difference. The learning curve should be as short as possible, and the tools of most importance should be easily accessible, like charts, user portfolios, and other market analyses.
- Reliability: This is a make-or-break factor of any trading platform. Traders want a platform that works without a hiccup. A platform that does not incur issues frequently is more trusted. If a broker trader has to fix or copy the orders because the MetaTrader cannot be accessed is not a good sign. This is important to keep in mind because many copy trading platforms work on the MetaTrader plugin. Copy trading platforms should also have many liquidity providers to compensate for Slippage and ensure smooth trading.
- Customer Support: Robust customer support has always been an important factor in the likeability of a product, even more so in SaaS products. A platform that promptly resolves the queries of their consumer will be recommended more than others. A good signal provider will send accurate information about the movements of a trader in the market, along with other trading tactics. So, it becomes important to look at the signal provider and their history and experience.
Best Copy Trading Platforms:
eToro:
eToro has an active community of users that allows users to interact and learn about crypto, it also offers news feeds for some coins.
The platform allows copy trading, which is the imitation of trades that a trader has executed. It also has a reward system for traders whose trades are being copied. Expert traders can earn up to 2% of their average balance as a reward for creating a following on the platform.
eToro allows virtual account trading where for users to practice trading. But the number of crypto and stocks available for trading is also on the lower side. The platform does not charge a commission for stocks and ETF trade.
Crypto Availability
There are more than 40 cryptocurrencies on offer for trading on the platform, including
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Polygon (MATIC)
- Solana (SOL)
- Dogecoin (DOGE)
Fees:
$5 withdrawal fee.
Fee for transferring money into the eToro crypto wallet, depending on the crypto.
10$ inactivity fee for accounts unused from a year onwards.
Security
eToro has a decades history of safely storing investor funds. The majority of funds are stored in cold wallets to minimize the loss in the event of a hack or error.
The platform also insists on having 2FA for added security. However, it is not compulsory to operate the account.
Pionex:
Pionex is another option that has many options to tailor to the needs of different people.
Pionex offers 18 bot trading options, some of which are:
- Grid trading bot: This bot buys and sells an asset when they reach a predefined low and a predefined high. With the help of this bot, the trader capitalizes on the market volatility.
- Leveraged grid bot: The working method of this bot is much like the Grid bot with the option of increasing profits through margin trading. The available leverage options are 1.2x, 1.5x, 2x, and 3x.
- Trailing sell bot: This bot is tailored toward the people who tend to sell early in a bull market. The trader can set different target prices in ascending order and when the asset reaches the target price the bot sells it. This bot also helps in the times when the sentiment of the market takes a U-Turn.
- DCA (dollar cost averaging) bot: DCA bot lets the trader set buy orders at different intervals. The bot does not buy the asset at a set price but at a set interval of time that can be 10 minutes, 1 hour, 1 day, 1 week, and up to a month. The advantage of the bot is that the trader gets a better average price over a period of time.
- Spot futures arbitrage bot: The spot future arbitrage bot lets the trader take advantage of the gap between the current spot price and the current price in the futures of a cryptocurrency. The trader can earn anywhere between 15-50% APR with low risk with a deposit of $50.
Crypto Availability
Bitcoin(BTC), Ethereum(ETH), Litecoin(LTC), Dogecoin(DOGE), Uinswap(UNI), Tether(USDT), USD Coin(USDC) and more than 250 coins are available on Pionex.
Fees
The fee is different for Spot and Leveraged trading, and Pionex is known for having low fees as compared to the competition.
| Type | Maker | Taker |
| Spot | 0.05% | 0.05% |
| Leveraged | 0.1% | 0.1% |
There are varying minimum deposit and withdrawal levels for different cryptocurrencies on different networks. The fee is also different for different cryptocurrencies.
Security
1. Pionex has invested a handsome chunk of money to secure the investors’ funds. The company stores its assets in cold wallets and insists on using 2FA which can be activated by an additional layer of SMS, E-mail, or a Google Authenticator verification.
2. Financial backing: Pionex has secured $10 million from leading Chinese firms like Gaorong Capital, Shunwei Capital, and ZhenFund
3. Licensing: Pionex has an MSB license by the FinCEN of the US.
PrimeXBT :
PrimeXBT is copy trading service by PrimeXBT LTD. The company offers its services since 2016.
PrimeXBT LTD is a copy trading company located in London, United Kingdom. The company offers copy trading services, copy trading signals, and copy trading auto trading services. It also provides trading educational courses, helping its clients to learn the basics of copy trading.
PrimeXBT LTD offers copy trading to clients from different countries: UK, Canada, Australia, New Zeeland, Germany, France, Italy, Spain, Russia, Ukraine, Singapore, Malaysia, Poland, Bulgaria, Turkey, India, China, Hong Kong, Japan, USA, Mexico, etc.
Crypto Availability
The portfolio available is very low when compared to the competitors. PrimeXBT offers 7 trading pairs that limit the options of the trader by a significant margin. Another drawback is that PrimeBXT does not accept any reserve currency deposits from bank accounts or credit cards. The trader can transfer funds from other platforms or wallets in:
- EOS (EOS)
- Tether (USDT)
- USD Coin (USDC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin (BTC)
- Ripple (XRP)
Fees
There are 2 types of fees that PrimeXBT charges: trading fee, and overnight financing fee.
A trading fee is the fee incurred when a trade is done (an asset is purchased or sold). It is a percentage of the total amount of the transaction.
| Fee | Cryptocurrency | Stock Indices & Commodities | Forex |
| % of transaction amount | 0.05% | 0.01% | 0.001% |
Overnight financing fee comes into effect when a leveraged position is carried to the new day. This fee is a percentage of the open trade and the rate depends on the type of trade. The positions that are closed before 12 AM UTC are not charged.
There is no fee for deposits and the fee for withdrawal is mentioned below:
| FEE | BTC | ETH | USDT | USDC | Covesting |
| Percentage of the amount | 0.0005 | 0.01 | 20 | 18 | 5 |
Security
PrimeXBT takes the Security of the data and Funds very seriously which is reflected in its robust cyber security framework. This framework ensures that the threat of a cyber attack and possible breach is minimum and the data is secured. Taking things up a notch, the company runs stress tests at random times to find and fix any loopholes or loose ends.
The website uses SSL encryption which is the industry standard. It also uses bcrypt to encrypt passwords. The website is hosted on AWS which is a very secure platform on its own and the company uses Cloudflare to prevent DDoS attacks.
3Commas :
3Commas is not exactly a copy trading platform. Instead, it is a crypto bot platform that can be used on most popular exchanges. The bots help the users in smart trading and minimizing losses. Over here, you can copy multiple bots looking at their past performance or create your own bot with custom rules.
Crypto availability
3Commas supports all the major Cryptocurrency exchanges like Binance, FTZ, KuCoin, Coinbase, etc. with different trade types, i.e Spot, Futures, and Margins. This gives the trader a lot of options to trade crypto and make profits.
Fee
3Commas has 3 versions of user memberships catered to different types of users. They are the Starter, Advanced, and Pro memberships.
The starter package ($29/mo) includes:
- Errors and cancellations notifications
- No limits on trading
- Smart Trading terminal
The advanced package ($49/mo) includes all the features of the Starter package and:
- Simple bots
- Personal signals TradingView
The Pro package ($99/mo) includes all the features of the Advanced package and:
- Simple, Composite bots and Bitmex bots
- Full portfolio management
- The Advanced and the Pro packages are available at lower prices when purchased for a longer commitment with up to a 15% discount on a 6-month package and up to 25% discount on a year’s package.
- There is an Enterprise package that comes with Priority support and other features, the quote for the same is available upon request.
Security
3Commas is a safe platform to trade crypto, thanks to its measures that provide multi-dimensional security. The company connects the exchange via encrypted API. The connection via API also ensures that the company does not have access to the trades of the user and only sends buy or sell requests on the user’s behalf. The company also makes sure that the Information and Funds of the users are safe by employing multiple security measures like a Firewall, DDoS attack protection, and SSL/TLS encryption. It is also advised that the users set up 2FA on their accounts to ensure that it is not misused.