Copy Trading Platforms/Brokers


Best Social-Trading & Copy-Trading Platforms/Brokers in South Africa

Copy Trading is offered by almost all the major social forex and stock trading platforms in the world. As the name suggests, Copy Trading allows a user to directly copy the positions taken by an expert or experienced trader, connecting a part of their portfolio with the trader. Once the user’s profile has been linked to another trader, all of the trader’s current positions and the actions they take will be copied. As a result, every action the trader takes will be mimicked by the user’s linked account. This means that the user wins when the trader wins and loses when the trader loses.

Copy Trading has been growing in popularity because of a multitude of reasons. One reason traders point out is that it tends to help beginner or novice traders make money very quickly. Currently, there are many traders who specifically create portfolios for other users to copy.

 

How to Copy Trade?

As mentioned before, Copy Trading connects a part of the user’s portfolio with the portfolio of a chosen trader. Once copied, all of the trader’s opened trades are also copied to the user’s account. This is universal across almost all the different copy trading platforms in existence. Depending on the platform chosen, the user is prompted to choose a sum to invest in a certain trader, usually not more than 20% of the user’s portfolio. Copy Trading is also known as Social Trading on some platforms.

 

Best Social-Trading & Copy-Trading Platforms and Broker in South Africa

South African citizens have a lot of options when it comes to accessing a copy/social trading platform. The major social trading platforms are all licensed and regulated by international regulatory bodies, each offering diverse instruments for users to trade with.

Below, we will discuss some of the top social/copy trading platforms available to South African users.

 

Overview: Comparison Table

*Note: CFDs carry Risk. 73-89% of traders lose​ 
BrokerWebsiteRegulationMax. LeverageMin DepositDemo
etoro reviews logo Visit Broker*
eToro Review
CySec and other
sa flag
1:400  $ 200 Yes
zulutrade reviews logo Visit Broker*
ZuluTrade Review
HCMC
sa flag
1:1000  $ 1 Yes
cm trading reviews logo Visit Broker*
CMTrading Review
FSB 
sa flag
1:200  $ 250 Yes
Roboforex Visit Broker*
RoboForex Review
IFSC
europa flag

1:2000

$ 10

Yes
avatrade broker Visit Broker*
Avatrade Review
FSB and others 
sa flag
1:400  $ 100 Yes


 

#1 eToro


 
etoro overview
eToro Website

Overview:

  • Regulated by: ASIC, FCA, CySec
  • Platforms: eToro Web, eToro Mobile
  • Operating Since: 2007
  • Instruments Available: Forex. Commodities, Cryptocurrencies, Shares, Stocks, Indices, Metals, Energies, Bonds ETFs, CFDs.
  • Type: Market Maker
  • Payment Options: Credit/Debit Card, Wire Transfer, PayPal, Skrill, Neteller, WebMoney, UnionPay , Yandex Money, Giropay Wirecard

 

etoroeToro has been in operation since 2007 and is regarded by many as the pioneer of copy trading. The team behind eToro is based in Tel Aviv, Israel and has over the years expanded to other countries such as Cyprus and England.

When it comes to copy trading, eToro is one of the leading social trading platforms with millions of users from over 140 countries worldwide. Their clients can invest and trade in forex, cryptocurrencies, commodities, shares, stocks, indices, energies. metals, bonds, ETFs, and CFDs.

 

eToro offers copy trading through it’s “Copy People” section. This section allows users to choose from millions of traders operating on the eToro platform. They can start copying using the copy button.

It should be noted that United States customers are only allowed to trade cryptocurrency CFDs and not forex.

 

Account Statistics

  • Minimum Deposits Allowed: The minimum deposit is fixed at $200. It is $50 for users in the United States.
  • Leverage
    • Forex: 1:100
    • Stock CFDs: 1:5
    • Commodities: 1:10
    • ETF Markets: 1:2
    • Indices: 1:5

Note: Your capital is at risk


 

#2 ZuluTrade 


 
zulutrade overview
Zulutrade Website

Overview:

  • Regulated by: HCMC
  • Platforms: ZuluTrade Desktop, ZuluTrade Mobile, ZuluTrade Web
  • Operating Since: 2007
  • Instruments Available: Forex, Cryptocurrency and CFDs
  • Type: Social Trading Platform
  • Payment Options: PayPal, ZuluTrade Mastercard and Bank wire

 

zulutradeZuluTrade is another social/copy trading platform which is quite different from the rest. It connects traders with each other through Meta Trader 4 and Meta Trader 5, allowing them to send or follow signals. The platform is home to over 10000 traders from almost 192 countries. It provides an online dashboard where users can see how traders are doing.

The ZuluTrade Platform allows users to search through trading strategies, choosing the one they wish to copy with their own capital. Users can copy multiple trading strategies simultaneously to create their own unique portfolios. They can remove or add strategies at any time according to their preferences.

 

Account Statistics

  • Minimum Deposits Allowed: The minimum deposit for opening accounts depends on the broker chosen by the user. ZuluTrade tends to charge some fees, in the form of additional spread based on each trade the user takes.
  • Leverage: ZuluTrader is not exactly a broker. This means that leverage depends on the broker chosen by the user.

Note: Your capital is at risk


 

#3 CM Trading (CopyKat)


 
CMTrading
CM Trading Website

Overview:

  • Regulated by: FSCA
  • Platforms: MetaTrader4, Web, Mobile, Sirix
  • Instruments Available: Forex, Cryptocurrency, Commodities, stocks, shares, metals, indices, energies and CFDs
  • Type: STP
  • Payment Options: Wire Transfer, Neteller, Credit Card, UnionPay, FasaPay, CashU, Bitcoin

 

cm trading reviews logoCM Trading is one of South Africa’s largest online broker, providing a wide range of forex and CFD instruments for traders worldwide. CM Trading offers copy trading services via it’s Copycat Trading function.

In CM Trading, Users can access the CopyKat trading function through the Sirix Webtrader platform, allowing users to watch, copy strategies and study them. Strategies can be searched using filters based on performance. Users can click the copy button to copy trades from a strategy, with the same being applied and placed automatically.

 

Account Statistics

  • Minimum Deposit: CM Trading’s Mini Account requires a minimum deposit of $250.
  • Leverage: CM Trading offers a flexible leverage of up to 1:200.

Note: Your capital is at risk


 

#4 RoboForex (CopyFx)


 
roboforex overview
Roboforex Website

Overview:

  • Regulated by: IFSC
  • Platforms: MetaTrader4, Metatrader 5, cTrader, Web, Mobile, R Trader
  • Since: 2009
  • Instruments Available: Forex, Cryptocurrency, Commodities, stocks, shares, metals, indices, energies and CFDs
  • Type: Market Maker , STP and ECN
  • Payment Options: Wire Transfer, Neteller, Credit Card, UnionPay, FasaPay, WebMoney, Trustly, ePayments, Qiwi, iDeal, Bitcoin, Poli, Sofort

 

roboforexRoboForex is an online brokerage site that has won several accolades over the years. It offers over 9400 trading instruments across different asset classes, coupled with flexible trading platforms and accounts. RoboForex offers copy trading facilities via its CopyFX Platform.

The CopyFX Platform by RoboForex allows users to copy transactions from other traders or to offer strategies for other users to copy from. Users can create subscriptions after specifying conditions from within the RoboForex Members Area.

 

Account Statistics

  • Minimum Deposit Allowed: RoboForex has a minimum deposit requirement of $10.
  • Leverage: The leverage depends on the type of account chosen. The Prime Account offers a maximum leverage of 1:100, while the Pro-Cent account offers a maximum leverage of 1:1000.

Note: Your capital is at risk


 

#5 Avatrade (DupliTrade)


 
avatradeweb
Avatrade Website

Overview:

  • Regulated by: ASIC, CBI, BVI, FFAJ, FSA, FSCA
  • Platforms: MetaTrader4, AvaTradeGO, AvaOptions, ZuluTrade, DupliTrade, Web, Mobile
  • Since: 2006
  • Instruments Available: Forex, Cryptocurrency, Commodities, stocks, shares, metals, indices, bonds, energies and CFDs
  • Type: Market Maker , STP 
  • Payment Options: Wire Transfer, Neteller, Credit Card, PayPal, WebMoney, Skrill

 

avatrade brokerAvaTrade is a well-known, award winning trading broker, offering regulated trading services across 6 jurisdictions. It offers more than 250 trading instruments across several markets and trading platforms. AvaTrade is known for offering some of the best conditions available to online traders around the world.

AvaTrade offers copy trading through its DupliTrade platform. DupliTrade is an MT4 compatible platform, allowing users to automatically copy the trading strategies of other traders in real time. It provides an easy to use interface which makes it very easy to easy build and manage a trading portfolio.

 

Account Statistics

  • Minimum deposit Allowed: The minimum deposit to open an account at AvaTrade is just $100
  • Leverage: The maximum leverage offered by AvaTrade is 1:400.

Note: Your capital is at risk


 

 

Best Broker using Zulutrade in South Africa

ZuluTrade has added over 4500 signal providers and allows a user to connect their own brokerage account when copying signals. ZuluTrade supports over 70 regulated forex brokers to cater to traders of all backgrounds and preferences. Three of the most popular ones are discussed in brief below.

 

BlackBull Markets

blackbull logoBlackBull Markets is a New Zealand based online broker, founded in 2014, and is part of ZuluTrade’s list of brokers. It is a true ECN with no dealing desk, providing institutional grade trading conditions to clients. They offer trading in Forex CFDs, commodities among other trading instruments.

Minimum Deposit: $200
Leverage: 1:500

 

Best Features

  • Straight Through Processing
  • No Dealing Desk
  • Prime Liquidity Providers
  • Global Equinix Servers
  • Electronic Communication Network
  • FIX API Trading

Note: Your capital is at risk


 

 

IC Markets

icmarkets logoIC Markets is another popularly used online brokerage site, based out of Australia. Founded in 2007, it specialises in offering CFD trading for indices, commodities, bonds, forex and equities. Through IC Markets, users can get access to over 230 trading instruments across multiple markets in platforms such as MetaTrader 4 or cTraders. They are well known for their low latency and superior liquidity.

Minimum Deposit: $200
Leverage: 1:500

 

Best Features

  • ASIC Regulation
  • True ECN Model
  • Low fees, tight spreads and fast execution speeds
  • Social trading platforms
  • Hedging and scalping allowed
  • Free deposit and withdrawal options

Note: Your capital is at risk


 

 

Vantage FX

vantagefx logoVantageFX is another well-known broker under the ZuluTrade list of supported brokers. It is regulated under CIMA, and provides access to global forex markets, through top-tier liquidity providers. It certainly provides an institutional grade trading service for all its users.

Minimum Deposit: $200
Leverage: 1:500

 

Best Features 

  • Strict regulations
  • Professional indemnity insurance
  • Segregated client funds
  • ECN/STP
  • Commission free accounts
  • MT4 smart trader tools
  • ZuluTrade integration
  • MAM/PAMM

Note: Your capital is at risk


 

 

Mobile Social Trading: Copy Trading App

Many traders prefer to trade and carry out their trading activities on the go, in this modern fast -paced world. With the emergence of mobile devices and internet connectivity, almost all brokers offer separate mobile apps for their users.

We will briefly mention some of them.

  • EToro Mobile Trading App: eToro’s Mobile Trading App gives users access to all eToro’s platforms, allowing them to directly manage their portfolios, follow markets, copy traders and perform other trading actions. The app is available to both iOS AND Android users from their respective app stores.
  • ZuluTrade Mobile Trading App: ZuluTrade does not have any separate mobile trading app for its users. However, the ZuluTrade social trading platform can be accessed from any desktop, web or mobile device. This makes it easy for trading on the go, without the need for any separate downloads.
  • CM Trading Mobile Trading App: CM Trading does not have any separate mobile app for its users. However, since it uses the MetaTrader 4 and 5 platforms, CM Trading users can download the MT4 mobile. The MetaTrader 4 mobile app is available for both Android and iOS devices and allows users to trade from anywhere, at any time.
  • RoboForex Trading Mobile App: Apart from the MetaTrader 4 mobile platform, RoboForex users can use both the R MobileTrader and the cTrader Mobile Apps for trading on the go. The R MobileTrader is the mobile version of the R Trader trading platform by RoboForex. It is available for both Android and iOS users from their respective app stores. It offers the same functionality as the web version of the app offers, allowing traders the same functions while trading on the go.
    The cTrader Mobile App has the same functions as the desktop version possesses. It is available for both Android and iOS devices.
  • AvaTrade Mobile App: The AvaTradeGO App is the mobile trading app offered by AvaTrade. It provides an intuitive, user friendly dashboard, coupled with advanced features allowing traders to trade from anywhere around the world. AvaTradeGO can be found for download from the AvaTrade official website.
  • BlackBull Markets Mobile App: BlackBull Markets does not offer a separate mobile application for its users. However, since it is compatible with the MetaTrader 4 platform, users can use the MT4 mobile trading app available for both iOS and Android devices.
  • IC Markets Mobile App: Users from IC Markets can either use the MetaTrader 4 mobile platform, or the cTrader Mobile App which is available for both android and iOS devices.
  • VantageFX Mobile App: VantageFX users can use the MetaTrader 4 and MetaTrader 5 mobile apps for accessing trading functions on the go. They are available for both Android and iOS users on the respective app stores.

 

 

Conclusion

Copy Trading or social trading is definitely gaining popularity in the trading community, because of its potential to offer remarkable profits in a short period of time. The above selections are some of the most well-known, regulated and diverse brokers offering copy trading facilities to South African users.