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AuthorBy Chris Cammack
Updated: March 14, 2023

Copy-trading enables individual traders to invest their trading funds with other successful traders and copy their trading strategies, usually for a small fee or a cut of the investing trader’s profit. It is mostly beginners who are interested in copy-trading, as it requires little financial knowledge and is a good opportunity to learn from more experienced traders. But all types of traders can benefit, especially as copy-trading requires little time to implement and monitor. 

To test these best brokers for copy-trading, we checked their regulation, opened a copy-trading account, and followed other traders. We also tested the different copy trading tools available to make manual trade adjustments, as traders should have full control of their trades in line with a long-term risk management strategy. 

These are the best copy trading brokers in Malaysia for 2023, according to our testing and our research.

  • FXTM - Best Copy Trading Platform for Beginners
  • OctaFX - Copy Trading Broker with Best Bonuses
  • Tickmill - Best Third-Party Copy Trading Solutions
  • Pepperstone - Best Copy Trading ECN Broker
  • AvaTrade - Best Copy Trader Mobile Experience
  • HFM - Best Copy Trading Account
  • IC Markets - Best Beginner-friendly Broker
  • Axi - Best Copy Trading ECN on the MT4 Platform
  • Skilling - Best cTrader Copy Trading Account
  • Fusion Markets - 3 Copy Trading Platforms

Best Copy Trading Brokers 2023

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Broker
Overall Rating
Official Site
Copy Trading
Min. Deposit
Max. Leverage (Forex)
Autochartist
Trading Central
Trading View
Total CFDs
Share CFDs
Commodity CFDs
Indices
Currency Pairs
Regulators
Platforms
Compare
FXTM
4.27 /5
Read Review
Visit Site >
81% of retail CFD accounts lose money
USD 102000:1 180390032362CySEC Regulated BrokersFCA Regulated BrokersFinancial Services CommissionMT4, MT5
OctaFX
4.27 /5
Read Review
Visit Site >
of retail CFD accounts lose money
USD 25500:1 23215051035Financial Services Authority – St. Vincent & the GrenadinesMT4, MT5
Tickmill
4.48 /5
Read Review
Visit Site >
75% of retail CFD accounts lose money
USD 100500:1 2099802762CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityMT4, MT5
Pepperstone
4.61 /5
Read Review
Visit Site >
75.8% of retail CFD accounts lose money
USD 0200:1 12451000172870FCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityMT4, MT5, cTrader
AvaTrade
4.49 /5
Read Review
Visit Site >
71% of retail CFD accounts lose money
USD 100400:1 872625253355ASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCentral Bank of IrelandFinancial Regulatory Services AuthorityMT4, MT5, Avatrade Social, AvaOptions
HFM (HotForex)
4.43 /5
Read Review
Visit Site >
72.90% of retail CFD accounts lose money
USD 51000:1 11697152453CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthorityMT4, MT5
IC Markets
4.46 /5
Read Review
Visit Site >
77% of retail CFD accounts lose money
USD 200500:1 17441600222564CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasMT4, MT5, cTrader
Axitrader
4.34 /5
Read Review
Visit Site >
75.6% of retail CFD accounts lose money
USD 0500:1 18850143270FCA Regulated BrokersASIC BrokersFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFinancial Services Authority – St. Vincent & the GrenadinesMT4
Skilling
4.07 /5
Read Review
Visit Site >
69% of retail CFD accounts lose money
EUR 100500:1 90575061673CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtThe Seychelles Financial Services AuthorityMT4, cTrader, Skilling Trader
Fusion Markets
4.33 /5
Read Review
Visit Site >
89% of retail CFD accounts lose money
USD 030:1 252110251885ASIC BrokersVanuatuThe Seychelles Financial Services AuthorityMT4, MT5

How to compare copy trading brokers

Most brokers offer some form of copy trading, and while some have their own copy trading systems, third-party communities like Duplitrade, Zulutrade, and myFXbook are also available. When comparing brokers by their copy trading functionality, consider:

Regulation: Always verify that your broker is regulated. Regulation is the safety of funds and an absolute requirement for any trader.

Trading platform: Are you using the broker’s copy-trading service, or is it via Zulutrade, Duplitrade or Myfxbook, which may have additional monthly costs if not provided for free.

Transparency and risk: A better copy trading system will provide traders with a detailed breakdown of the traders to copy. These metrics should include risk metrics, profit (short-term, medium-term, long-term) and max drawdown. Finding winning traders is important, but equally important is finding winning traders who share your risk appetite. 

The number of quality of traders to copy: Your broker must have a larger set of traders for you to follow. A limited set of traders will mean that you may not find the appropriate trader with the right metrics to follow. 

Flexibility: Copy trading is not mirror trading, where your trading account mirrors the trading activity of the person you are following. Flexibility will let you filter which trades to copy, using preset parameters for cost/risk/return to guide you.

Binding period: A trader should be able to stop copying trades instantly and not be locked in for a set time. A trader should refuse any attempt by a broker or a third-party service to legally bind you to a copy trading provider.

Paying the provider: Are you paying a flat fee, or are you only paying a fee for profitable trades? Are you paying a subscription fee to the broker? The cost directly owed to the signal provider should be transparent. 

Copy trading accounts: Copy trading may be limited to specific broker accounts. Find out which accounts offer copy trading, understand what the minimum deposit on that account may be, and if the cost of trading (spreads and commission) is different on that account before signing up and making a deposit.


FXTM – Best Copy Trading Platform for Beginners

Copy Trading Platform: FXTM provides a powerful copy trading system called FXTM Invest, which is helpful for beginner traders who lack the expertise and skills in CFD trading. FXTM Invest allows investors to choose a strategy manager from a list of top-rated traders. Once an investor makes a minimum deposit of 100 USD, FXTM will activate the Investor account, and clients can then copy the trades of the strategy managers. With this system, investors can follow suitable strategies and receive a portion of the profits, and Strategy Managers can earn extra money by generating profits for their investors.

Beginner Education: FXTM also provides a lot of educational and market analysis materials to help beginner traders. The materials offer a good overview of Forex trading in guides and tutorials, articles, webinars, seminars, e-books, trading glossaries, and videos. Much like FXTM’s education section, its market analysis materials are comprehensive, frequently updated, and accurately analyse the markets.

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Copy trading accounts
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Minimum spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

OctaFX – Copy Trading Broker with Best Bonuses

Copy Trading Account: OctaFX offers all traders a copy trading tool to replicate the trades of more experienced strategy providers, called Master Traders. By following an unlimited number of Masters, copy traders can create a balanced and diversified trading portfolio while keeping full control of each trade – which they can modify/exit at their discretion. OctaFX publishes the trading statistics of all Masters in the Copier Area, including the commission set by the Master. OctaFX supports MT4 and MT5 trading platforms.

Forex Bonuses: OctaFX frequently runs competitions and promotions for its Malaysian clients, including demo trading contests, first deposit bonuses, and cash prizes. OctaFX also runs contests for traders with live accounts, offering prizes such as cars, laptops, and smartphones.

Pros
  • Fast and free withdrawals
  • Copy trading accounts
Cons
  • Limited range of assets
  • Restrictive account types
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. OctaFX is regulated by CySEC & SVG FSA.

Tickmill – Best Third-Party Copy Trading Solutions

Copy Trading Solutions: Tickmill supports Myfxbook AutoTrade and the Pelican Trading mobile trading app (iOS/Android) – two of the better professional third-party copy-trading platforms that integrate with MT4 and MT5. The Myfxbook AutoTrade solution is free of charge for Tickmill clients, and trading terms are the same as Tickmill’s Pro Account, though Myfxbook does mark up the spread by 0.6 pips per side.

Pelican Trading is a combined copy-trading app and social trading platform, allowing traders to chat, share tips, and copy each other’s trades. It’s a simple process to connect a Tickmill account to the app, but users should be aware that some trading groups have a fee attached, and this will be separate from the money you deposit with Tickmill.

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 and MT5 platforms supported. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

Pepperstone – Best Copy Trading ECN Broker

Copy Trading Trading Systems: Pepperstone offers a selection of powerful third-party copy trading systems for traders to choose from, including MetaTrader SignalsDuplitrade, and Myfxbook.

  • MetaTrader Signals takes the guesswork and emotion out of trading by allowing traders to access thousands of trading strategies and signals from traders in real-time. It also allows traders to diversify their trading and reduce their portfolio risk by using different signal providers with different approaches.
  • Duplitrade allows traders to engage in automated trading, using signals from proprietary traders, which helps them build their trading knowledge and understand pro techniques. 
  • Myfxbook is an account mirroring service that allows traders to copy the trades of the top Forex traders. There are no performance or management fees, and Myfxbook provides accurate statistics, allowing traders to analyse and improve their performance quickly. 

Trusted Forex Broker: A leading ASIC-regulated ECN/STP broker, Pepperstone offers trading on multiple assets, including Forex, indices, shares, commodities, cryptocurrencies, and indices. Known for its tight spreads, ultra-fast execution, and broad platform support, Pepperstone is one of the best Forex brokers in the world.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.60 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and CySEC.

Avatrade – Best Copy Trader Mobile Experience

AvaSocial Copy Trading Platform: With full support for various platforms, including MT4, MT5, the award-winning AvaSocial, Avatrade provides a user-friendly and innovative trading environment that allows beginner copy traders to profit from tested trading strategies of more experienced traders. 

The Avasocial App helps traders to discover successful traders and qualified mentors, displaying their risk profile, experience, and trading style. Copy traders will receive continuous real-time updates about the state of their trades and can talk one-on-one to providers. Avatrade has also partnered with Mirror Trader and Zulutrade to offer a wider range of copy trading functionality. Mirror Trader allows investors to switch between manual copy trading, semi-automatic trading, or automatic trading when following a provider.

Leading CFD Broker: Avatrade is a leading global CFD market maker broker with excellent regulation offering trading on multiple assets, including Forex, cryptocurrencies, ETFs, options, bonds, and vanilla options on one live commission-free account with competitive trading conditions. 

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts Malaysian Clients. Spreads start at 0.90 pips on theEUR/USD on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

HFM (Hotforex) – Best Copy Trading Account

Dedicated Copy Trading Account: Traders have the choice of four account types, including an exclusive HFcopy account. The HFcopy Account is available to both Strategy Providers and Followers who have joined HFcopy. Strategy Providers can open an HFcopy Account to build their inventory of Followers and trade on behalf of their Followers in exchange for a Performance Fee. Followers only pay Strategy Providers if their strategies are successful. 

The HFcopy account offers slightly different trading conditions to HFM’s regular accounts, including a minimum opening deposit of 300 USD for Strategy Providers and 100 USD for Followers. HFcopy accounts are only denominated in USD and offer commission-free trading with spreads starting at 1.0 pips on the EUR/USD.

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

IC Markets – Best Beginner-friendly Broker

Copy Trading Platform Choice: IC Markets is one of the few brokers to support all three major trading platforms and two copy trader tools – Zulutrade and Myfxbook Autotrade. 

  • Zulutrade is a third-party copy trading tool that allows traders to choose between 100,000 signal providers from 192 countries. Zulutrade’s sophisticated algorithm ranks Signal Providers by analysing their overall performance, stability, exposure, and minimum equity required. It also offers Zuluguard, an advanced account protection feature that monitors traders’ performance 24/7 and protects copy traders’ invested capital. 
  • Myfxbook Autotrade allows traders to copy the trades of any system directly onto the MT4 platform. No volume-based fees are charged, and traders do not have to install any complex software – they connect their account to Myfxbook and select the system they would like to copy. 

Beginner Friendly Broker: IC Markets is a beginner-friendly CFD broker offering trading on multiple instruments, including Forex, commodities, indices, bonds, digital currencies, stocks, and futures. It also offers excellent educational materials and 24/7 support to get beginner traders started. 

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.10 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.

Axi – Best Copy Trading ECN on the MT4 Platform

Free 3rd-Party Copy Trading Platforms: Axi also offers a selection of powerful copy trading tools and trading signals, allowing traders to copy trade using thousands of strategies on the MT4 platform. Axi supports:

  • Myfxbook, a third-party automated analytics tool that allows traders to organise and monitor all trading accounts and systems in one centralised place
  • Zulutrade and Duplitrade are popular third-party social trading networks that allow clients to copy top-performing traders irrespective of the broker.

Trusted ECN Forex Broker: An Australian ASIC and FCA-regulated ECN broker, Axi offers trading on 70 Forex pairs, precious metals, commodities, indices, and cryptocurrencies. By providing exclusive support for the MT4 platform, Axi offers an innovative and customisable MT4 experience, including a range of tools as part of its NexGen package. These include a sentiment indicator, a correlation trader, an intuitive terminal window, and an automated trade journal.

Pros
  • Low minimum deposit
  • Tight spreads
  • Innovative trading tools
Cons
  • MT4 only
  • Limited range of assets
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA

Skilling – Best cTrader Copy Trading Account

cTrader Platform: Available on the Skilling cTrader Copy platform, traders can choose from over 800 different strategies and providers to follow and copy. The in-depth performance statistics available allow you to research Strategy Providers and their track record of investments as well as review their performance results and trading style to determine the strategy most suitable to you. 

Good for Beginners: Start, pause, or stop copying; Skilling Copy allows traders to edit their copying with a few simple clicks. You can also protect your funds with an Equity Stop Loss, limiting how much of your trading account you want to risk. Beginners will also be able watch the actions of more experienced traders and learn trading ideas and strategies. Social trading is useful for traders who have no time for training or making independent investment decisions. 

cTrader Platform: Available on the Skilling cTrader Copy platform, traders can choose from over 800 different strategies and providers to follow and copy. The in-depth performance statistics available allow you to research Strategy Providers and their track record of investments as well as review their performance results and trading style to determine the strategy most suitable to you. 

Good for Beginners: Start, pause, or stop copying; Skilling Copy allows traders to edit their copying with a few simple clicks. You can also protect your funds with an Equity Stop Loss, limiting how much of your trading account you want to risk. Beginners will also be able watch the actions of more experienced traders and learn trading ideas and strategies. Social trading is useful for traders who have no time for training or making independent investment decisions. 

Pros
  • Copy trading accounts
  • Tight spreads
  • Great platform choice
Cons
  • No swap-free account option
  • Limited education
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.80 pips on the trading account with lowest minimum deposit. Max leverage 500:1. MT4, Skilling, and cTrader platforms supported. Skilling is regulated by CySEC, the FCA, and the FSA-Seychelles.

Fusion Markets –3 Copy Trading Platforms

Founded in 2017 in Australia, Fusion Markets is an ASIC-regulated broker with exceptionally low trading costs, MT4 and MT5 support, and no minimum deposit requirements. Alongside an excellent range of market analysis materials, Fusion Markets also offers no less than three different copy-trading solutions.

Its own Fusion+ copy trading platform is only available in a proprietary trading platform, but it also offers Duplitrade and Myfxbook Autotrade – one of the largest Forex social trading communities in the world.

In terms of traditional trading, Fusion Markets is one of the lowest-cost brokers in the world. EUR/USD spreads start at 0 pips on its Zero Account with a very low commission of 4.5 AUD. The only drawbacks are a relatively limited number of CFDs (though 85 Forex pairs, many more than most brokers) and no education to speak of, so beginners will have to educate themselves elsewhere.

Pros
  • Low minimum deposits
  • Tight spreads
  • Excellent market analysis
Cons
  • No in-house platform
  • No education
AlertAccepts Malaysian Clients. Average spread EUR/USD 0 pips with 0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. Fusion Markets is regulated by ASIC, FSA (Seychelles), & VFSC.

What is Copy Trading?

Copy trading allows beginner traders to trade by copying complex trading strategies used by professional traders. 

Before copy trading as we know it today, the only way to get detailed trading advice was using a managed trading account, where a professional trader made all trades on your behalf. While managed accounts are still an integral part of institutional trading, the rapid rise of copy trading has almost completely eclipsed them for retail traders.

How does Copy Trading Work?

Copy trading requires two traders and a Forex broker, which provides the platform for them to co-operate. One trader is the provider, or manager, and they will make their trading strategies available for others to follow. The other trader, or investor, selects the provider they wish to follow – usually for a fee or a cut of the investor’s profits. The broker provides the social platform for the provider and the investor to meet and co-operate, brokers also provide the trading platform that the provider will use to trade.

Most copy trading platforms will also display the manager’s investment return, risk profile, length of experience and trading style. It is essential to also examine the manager’s largest drawdown, this the largest single peak to trough decline in the manager’s trading account. If you are thinking of investing a smaller amount than the manager’s largest drawdown you are putting yourself at serious risk of losing all your capital.  Controls for investors are also a key feature, allowing you to choose how much money to invest with a provider and which strategies to follow.

What are the disadvantages of copy trading?

The disadvantage of copy tradings is that beginner traders may end up following risky trading strategies without fully understanding the consequences, and lose significant amounts of money. 

What is the best copy trading platform?

MT4, MT5 and cTrader all have built-in copy trading functionality. This means that traders with a preference for these specific trading platforms will find a copy trading community.

Best MT4 Brokers with Copy Trading Accounts

These are the MT4 brokers with copy trading accounts that we have reviewed, ordered by overall score.

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Broker
Overall Rating
Copy Trading
Min. Deposit
Max. Leverage (Forex)
Cost of Trading
Islamic Account
Regulators
Zulutrade
Duplitrade
MyFxBook
Compare
IG
4.69 /5
Read Review
USD 0200:1USD 6 ASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtDubai Financial Services AuthorityCommodity Futures Trading Association
Pepperstone
4.61 /5
Read Review
USD 0200:1USD 6 ASIC BrokersCySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets Authority
Markets.com
4.58 /5
Read Review
USD 100300:1USD 7 FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersBritish Virgin Islands Financial Services Commission
AvaTrade
4.49 /5
Read Review
USD 100400:1USD 9 ASIC BrokersBritish Virgin Islands Financial Services CommissionCentral Bank of IrelandFinancial Regulatory Services Authority
Tickmill
4.48 /5
Read Review
USD 100500:1USD 4 CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct Authority
IC Markets
4.46 /5
Read Review
USD 200500:1USD 8 CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the Bahamas
HFM (HotForex)
4.43 /5
Read Review
USD 51000:1USD 10 CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityFinancial Services Commission

Best MT5 Brokers with Copy Trading Accounts

These are the MT5 brokers with copy trading accounts that we have reviewed, ordered by overall score.

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Broker
Overall Rating
Copy Trading
Min. Deposit
Max. Leverage (Forex)
Cost of Trading
Islamic Account
Regulators
Zulutrade
Duplitrade
MyFxBook
Compare
Pepperstone
4.61 /5
Read Review
USD 0200:1USD 6 ASIC BrokersCySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets Authority
Markets.com
4.58 /5
Read Review
USD 100300:1USD 7 FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersBritish Virgin Islands Financial Services Commission
AvaTrade
4.49 /5
Read Review
USD 100400:1USD 9 ASIC BrokersBritish Virgin Islands Financial Services CommissionCentral Bank of IrelandFinancial Regulatory Services Authority
Tickmill
4.48 /5
Read Review
USD 100500:1USD 4 CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct Authority
IC Markets
4.46 /5
Read Review
USD 200500:1USD 8 CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the Bahamas
HFM (HotForex)
4.43 /5
Read Review
USD 51000:1USD 10 CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityFinancial Services Commission
XM
4.35 /5
Read Review
USD 5888:1USD 7 CySEC Regulated BrokersASIC BrokersFCA Regulated BrokersInternational Financial Services Commission

Best cTrader Brokers with Copy Trading Accounts

These are the cTrader brokers with copy trading accounts that we have reviewed, ordered by overall score.

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Broker
Overall Rating
Copy Trading
Min. Deposit
Max. Leverage (Forex)
Cost of Trading
Islamic Account
Regulators
Zulutrade
Duplitrade
MyFxBook
Compare
Pepperstone
4.61 /5
Read Review
USD 0200:1USD 6 ASIC BrokersCySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets Authority
IC Markets
4.46 /5
Read Review
USD 200500:1USD 8 CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the Bahamas
FxPro
4.29 /5
Read Review
USD 100200:1USD 14 FCA Regulated BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services Authority
Fondex
4.14 /5
Read Review
USD 1500:1USD 7.80 CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtThe Seychelles Financial Services Authority
FxPrimus
4.11 /5
Read Review
USD 151000:1USD 15 CySEC Regulated BrokersVanuatu
Skilling
4.07 /5
Read Review
EUR 100500:1USD 8 CySEC Regulated BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtThe Seychelles Financial Services Authority
MultiBank
3.87 /5
Read Review
USD 50500:1USD 14 ASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtBritish Virgin Islands Financial Services CommissionCayman Islands Monetary Authority

Is copy trading legal?

Yes, copy trading is legal in Malaysia. Prior to the explosion in social trading, copy trading was only available via a managed account. Managed accounts required a power of attorney and a large account balance, and so are unpopular amongst typical retail traders. Copy trading, or social trading, on the other hand is considered self-directed by most regulators, as traders who use this function always select the trading system to copy.

Which brokers are the best for Copy Trading?

eToro, FXTM and AvaTrade are the best brokers for copy trading.

eToro’s unique social trading platform allows for users to copy each other’s trades and share trading tips. Easy-to-use and web-based, the eToro platform has won many awards over the years for innovation and simplicity. With over 6 million clients, eToro has successfully made social trading an integral part of Forex industry.

FXTM run the FXTM Invest platform, which connects investors with Strategy Managers. Strategy Managers are graded on several metrics and investors can filter Strategy Managers to find the right combination of return and risk they feel comfortable with. Investors only pay a fee on successful trades.

Avatrade offers multiple direct and indirect copy trading options. AvaTrade has also partnered with the Mirror Trader and ZuluTrade platforms to offer a wide range of copy trading functionality. Mirror Trader allows investors to switch between manual copy trading, semi-automatic trading, or automatic trading when following a provider. ZuluTrade is a community of providers, who have been ranked using various practical parameters including maximum drawdown and average profitability.

How do I choose the best copy trading system?

Most Forex brokers now offer some form of copy trading, but there are major differences between the products they offer and how they integrate into trading platforms.

The best copy trading and social trading brokers will offer a clear explanation of how the copy trading platform works with detailed metrics on each trader offering their services. These metrics should include the return as a percentage over time (days, weeks, months, years), largest drawdown (peak to trough decline), average daily profit, the total time the trader has been active and a risk rating.

Final Word

While a relatively recent method of Forex trading, copy trading has fast become one of the largest. The advantages are obvious for beginner traders, and many experienced traders also swear by it. But, like all Forex trading, it must be entered into with education, caution and a thought for risk management.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 180 Forex brokers. The explicit goal of these resources is to help traders find the best Malaysian Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 200 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from a Malaysian perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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