Top 5 Crypto Copy Trading Platforms for 2024

Platforms for crypto copy trading are made to reduce barriers to entry and increase access for inexperienced investors. These services want to level the playing field and provide everyone with an opportunity to benefit from the cryptocurrency market by connecting users with experienced traders and enabling them to automatically copy their transactions.

Typical features of copy trading platforms include customizable risk management settings, trader performance data and rankings, and social trading communities where users can communicate and share knowledge.

Although copy trading can be a helpful strategy to improve profits and portfolio diversification, note that there are still risks involved and that thorough research and due diligence are required.

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Top 5 Crypto Copy Trading Platforms for 2024

Bybit

With its “Copytrading” feature, Bybit allows for copy trading. The copy trading interface provided by Bybit is easy to use and intuitive, offering each trader risk scores and detailed performance analytics.

The platform offers affordable fees, quick execution times, and support for a large number of cryptocurrencies and trade pairs. The fact that Bybit’s copy trading features are restricted to derivatives trading and do not allow users to copy spot trades is one potential disadvantage.

Pros

Many traders to choose from for copying
Friendly User Interface
Up to 100x leverage
Autopilot mode
Fund allocation options and adjust your preferences
$10 FREE BTC after sign-up
Online Customer Support

Cons

Fees can add up
Not available for US citizens

PrimeXBT Covesting

“Covesting” is a copy trading module available on the multi-asset trading platform PrimeXBT. A unique profit-sharing plan is provided by PrimeXBT Covesting, in which traders receive a share of the profits made by their followers.

The platform offers affordable prices and quick execution times, and it supports many assets, such as indices, currencies, cryptocurrencies, and commodities. PrimeXBT Covesting requires a 0.1 BTC minimum investment to start copy trading, which could be a disadvantage.

Pros

Low fees
Demo Account

Cons

20% profit share for traders
Geographical Restrictions

OKX

“Copytrading” is a copy trading feature available on OKX for spot and derivatives trading platforms. The copy trading interface on OKX is easy to use and intuitive, offering each trader risk scores and detailed performance analytics.

The platform offers cheap fees, quick execution times, and support for a large number of cryptocurrencies and trading pairs. The fact that OKX’s copy trading feature is restricted to specific areas by regulatory requirements is one potential disadvantage.

Pros

User-friendly for beginners
Low fees
No conversion or deposit fees

Cons:

Not available for US citizens
Unclear withdrawal fees
Weak Customer Support

Wundertrading

Through the cryptocurrency social trading platform Wundertrading, individuals can connect with profitable traders and automatically copy their transactions. With the use of the platform’s exclusive “Trading Rooms” feature, traders can create and run their communities and guide their followers on their strategies and insights.

Wundertrading provides each trader with customizable risk management settings, performance metrics, and support for many cryptocurrencies. Additionally, the platform offers a mobile app for trading while on the go. Wundertrading requires a monthly subscription cost to access certain services and trading rooms is one potential disadvantage.

Pros

strong focus on creating a community for social trading
Opportunities for collaboration and learning
Access to educational resources and features
Free for the first month
Support over 10 cryptocurrency exchanges

Cons

Weak Customer Service
User base is small, but it is growing and includes all traders, even the weakest traders.

3commas

With support from many exchanges and trading pairs, 3commas is a popular cryptocurrency trading bot and copy trading platform. Many copy trading features are available on the platform, such as the capacity to track the transactions of profitable traders, create unique trading bots based on their methods, and transfer currency to many traders and bots at once.

Many risk management tools, including take-profit and stop-loss orders, as well as a simple interface for portfolio management and performance tracking, are supplied by 3commas. 3commas requires a monthly membership fee to access specific services, and trading bots is one potential disadvantage.

Pros

Supports many crypto exchanges
Easy to use
Good selection of trade bots

Cons

Limited features of the free plan
Complicated user interface

Conclusion

Investors can now engage in the cryptocurrency market through copy trading, which reduces the need for continuous market monitoring or a lot of trading experience. The top 5 cryptocurrencies, a copy trading platform of 2024 include many features and advantages to meet different risk tolerances and trading styles. Traders can choose the platform that best meets their objectives and tastes by carefully weighing features like supported exchanges, user-friendliness, risk management tools, performance analytics, and regulatory compliance.