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Copy trading, also known as social 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. Copy trading platforms can either be automated, semi-automated or manual, which gives the trader varying levels of overall control. These are the best copy trading brokers in Malaysia for 2022, 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
  • HotForex - Best Copy Trading Account
  • IC Markets - Best Beginner-friendly Broker
  • Axi - Best Copy Trading ECN on the MT4 Platform
  • Amana Capital - Best Analysis Tools for Copy Traders
  • FXCM - Broadest Platform Choice For Copy Trading

Best Copy Trading Brokers 2022

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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
4.33 /5
Read Review
Create Account >
Your capital is at risk
USD 10
2000:1
795
172
3
11
62
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Commission
OctaFX
4.02 /5
Read Review
Create Account >
Your capital is at risk
USD 50
500:1
52
0
5
10
32
Financial Services Authority – St. Vincent & the Grenadines
Tickmill
4.48 /5
Read Review
Create Account >
Your capital is at risk
USD 100
500:1
91
0
0
14
62
CySEC Regulated Brokers
FCA Regulated Brokers
Labuan Financial Services Authority
Financial Services Conduct Authority
The Seychelles Financial Services Authority
Pepperstone
4.61 /5
Read Review
Create Account >
Your capital is at risk
USD 5
200:1
1119
900
24
23
60
FCA Regulated Brokers
ASIC Brokers
CySEC Regulated Brokers
Dubai Financial Services Authority
AvaTrade
4.48 /5
Read Review
Create Account >
Your capital is at risk
USD 100
400:1
872
625
25
33
55
ASIC Brokers
Financial Services Conduct Authority
British Virgin Islands Financial Services Commission
Financial Services Agency
CySEC Regulated Brokers
Central Bank of Ireland
Avatrade Social
AvaOptions
HotForex
4.49 /5
Read Review
Create Account >
Your capital is at risk
USD 5
1000:1
1150
71
5
24
53
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Conduct Authority
Dubai Financial Services Authority
Financial Services Commission
IC Markets
4.46 /5
Read Review
Create Account >
Your capital is at risk
USD 200
500:1
1744
1600
22
25
64
CySEC Regulated Brokers
ASIC Brokers
The Seychelles Financial Services Authority
Zulu Trade
Axitrader
4.34 /5
Read Review
Create Account >
Your capital is at risk
USD 5
500:1
183
50
14
32
70
FCA Regulated Brokers
ASIC Brokers
Financial Markets Authority of New Zealand
Dubai Financial Services Authority
Amana Capital
3.83 /5
Read Review
Create Account >
Your capital is at risk
USD 50
500:1
430
322
7
20
66
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
Finansinspektionen
Labuan Financial Services Authority
Capital Markets Authority
FXCM
4.24 /5
Read Review
Create Account >
Your capital is at risk
USD 50
400:1
306
219
12
15
45
FCA Regulated Brokers
ASIC Brokers
Financial Services Conduct Authority
CySEC Regulated Brokers
Bermuda Monetary Authority
TradeStation

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 1.10 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
  • Wide range of assets
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 0.69 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.

Hotforex – Best Copy Trading Account

Dedicated Copy Trading Account: Traders have the choice of five 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 Hotforex’ regular accounts, including a minimum opening deposit of 500 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
  • Wide range of assets
  • Well regulated
  • Tight spreads
Cons
  • Poor customer service
  • Limited demo account
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.20 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

Amana Capital – Best Analysis Tools for Copy Traders

Zulutrade Copy Trading Platform: Amana Capital offers Zulutrade, a cross-platform social trading application that enables traders to copy the trading strategies of experienced professionals from around the globe, for free to all Amana Capital’s active clients.

Although Zulutrade offers automated trading, copy traders can monitor all open positions in real-time and fully control their funds. Copy traders can choose from a large set of experienced and high-ranking traders with many followers. To open a copy trading account, traders should click on “New Account” and select Zulutrade as the trading platform. Zulutrade is available on both the mobile and desktop versions of the app. 

Advanced Tools for Copy Traders: Amana Capital is a well-regulated broker offering trading on a wide range of assets, including Forex, indices, energies, metals, commodities, shares, and cryptocurrencies. Full support is offered for the MT4 and MT5 platforms in addition to excellent analysis tools, including Autochartist, Trade Captain, and a VPS service. 

Pros
  • Well regulated
  • Tight spreads
  • Great customer support
Cons
  • High minimum deposit
  • Limited market analysis
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Amana Capital Group is regulated by the CySEC, FCA, and the DFSA.

FXCM – Broadest Platform Choice For Copy Trading

Zulutrade Copy Trading: Copy-trading at FXCM is offered via the Zulutrade platform for a subscription fee of 30 USD per month. Zulutrade allows traders to follow the trading activity and strategies of a diverse network of traders from different brokers and selects its traders using advanced algorithms and a dedicated Trading Desk. Zulutrade also provides a Combo+ choice, a managed portfolio service that offers traders a pre-selected grouping of Zulutrade’s Traders based on various strategies to follow. Zulutrade’s Certified Management Portfolio team will manage the account free of charge.

Powerful Trading Software Choices: A well-regulated broker, FXCM traders can use four trading platforms, including MT4, NinjaTrader, Zulutrade, and Trading Station, its world-class, feature-rich proprietary platform. It also offers several other speciality platforms that allow algorithmic trading. Trading Station comes with powerful analytical tools for advanced charting and an intuitive interface for ease of use. It also offers micro-lot trading, custom indicators, strategy optimisation, and strategy backtesting. 

Pros
  • Well regulated
  • Great platform choice
  • Excellent education
  • Innovative trading tools
Cons
  • Limited demo account
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.30 pips on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & Trade Station platforms supported. FXCM is regulated by FCA, ASIC, CySEC, BMA, and the FSCA.

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 Markets
4.69 /5
Read Review
USD 250
200:1
USD 6
ASIC Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Dubai Financial Services Authority
Commodity Futures Trading Association
Pepperstone
4.61 /5
Read Review
USD 5
200:1
USD 6.90
FCA Regulated Brokers
ASIC Brokers
CySEC Regulated Brokers
Dubai Financial Services Authority
HotForex
4.49 /5
Read Review
USD 5
1000:1
USD 10
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
Financial Services Commission
AvaTrade
4.48 /5
Read Review
USD 100
400:1
USD 9
ASIC Brokers
British Virgin Islands Financial Services Commission
CySEC Regulated Brokers
Central Bank of Ireland
Tickmill
4.48 /5
Read Review
USD 100
500:1
USD 4
CySEC Regulated Brokers
FCA Regulated Brokers
Labuan Financial Services Authority
Financial Services Conduct Authority
IC Markets
4.46 /5
Read Review
USD 200
500:1
USD 8
CySEC Regulated Brokers
ASIC Brokers
The Seychelles Financial Services Authority
Axitrader
4.34 /5
Read Review
USD 5
500:1
USD 12
FCA Regulated Brokers
ASIC Brokers
Financial Markets Authority of New Zealand
Dubai Financial Services Authority

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 5
200:1
USD 6.90
FCA Regulated Brokers
ASIC Brokers
CySEC Regulated Brokers
Dubai Financial Services Authority
HotForex
4.49 /5
Read Review
USD 5
1000:1
USD 10
CySEC Regulated Brokers
FCA Regulated Brokers
Dubai Financial Services Authority
Financial Services Commission
AvaTrade
4.48 /5
Read Review
USD 100
400:1
USD 9
ASIC Brokers
British Virgin Islands Financial Services Commission
CySEC Regulated Brokers
Central Bank of Ireland
Tickmill
4.48 /5
Read Review
USD 100
500:1
USD 4
CySEC Regulated Brokers
FCA Regulated Brokers
Labuan Financial Services Authority
Financial Services Conduct Authority
IC Markets
4.46 /5
Read Review
USD 200
500:1
USD 8
CySEC Regulated Brokers
ASIC Brokers
The Seychelles Financial Services Authority
FXTM
4.33 /5
Read Review
USD 10
2000:1
USD 15
CySEC Regulated Brokers
FCA Regulated Brokers
Financial Services Commission
BDSwiss
4.32 /5
Read Review
USD 10
500:1
USD 15
CySEC Regulated Brokers
Financial Services Commission
The Seychelles Financial Services Authority

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 5
200:1
USD 6.90
FCA Regulated Brokers
ASIC Brokers
CySEC Regulated Brokers
Dubai Financial Services Authority
IC Markets
4.46 /5
Read Review
USD 200
500:1
USD 8
CySEC Regulated Brokers
ASIC Brokers
The Seychelles Financial Services Authority
FxPro
4.29 /5
Read Review
USD 100
200:1
USD 14
FCA Regulated Brokers
CySEC Regulated Brokers
Financial Services Conduct Authority
Dubai Financial Services Authority
Skilling
4.23 /5
Read Review
EUR 100
500:1
USD 8
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
The Seychelles Financial Services Authority
Fondex
4.14 /5
Read Review
USD 1
500:1
USD 7.80
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
The Seychelles Financial Services Authority
TradeView Markets
3.81 /5
Read Review
USD 200
400:1
USD 0
Cayman Islands Monetary Authority
Fibo Group
3.50 /5
Read Review
USD 0
1000:1
USD 6
CySEC Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
British Virgin Islands Financial Services Commission
Financial Services Commission

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 100 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 150 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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Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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