The use of copy trading platforms in the UK has been on the rise with online trading becoming widespread. Copy trading, a form of social trading, enables newbies to replicate the positions of experienced traders, without requiring prior trading knowledge. Platforms reward the experienced investors being copied, too, with bonuses when novice traders sign up to follow them.
Want to learn how copy trading works and what risks to consider before starting? This guide ranks and reviews the best copy trading platforms in the UK. Discover top-rated providers with the largest pool of traders, the lowest fees, and the safest user experience.
The top UK copy trading platforms ranked
View our 10 picks of the best copy trading platforms in the UK:
- eToro – The Israel-based trading and investment platform was an early adopter of copy trading in 2010 when it introduced CopyTrader, a service that allows users to mimic the trading strategies of top-performing investors.
- Pepperstone: The Australian platform with more than 400,000 customers globally, offers forex and cryptocurrency trading, as well as contracts for difference on stocks, indices, metals, and commodities. It introduced a one-click copy trader app last fall for iOS and Android.
- FP Markets: The Australia-based global forex and CFD broker, founded 20 years ago, offers copy trading through its MT4 and MT5 platforms. It also includes a ratings page for the top “Providers” worth copying.
- Admiral Markets: The broker, part of Estonia-based Admirals Group, has been present in the UK since 2012. It offers actual stocks and ETFs, as well as CFDs on indices, metals, energies, and agriculture commodities, plus crypto, stocks, ETFs and bonds. It began offering copy trading in 2021.
- Prime XBT: The broker, based in the Seychelles, has been in business since 2018 and already serves more than a million customers across 150 countries. It offers no-commission cryptocurrency and forex trading at low costs, and a copy trading feature.
- TradeNation: The London-based trading platform has been around for more than a decade and has a separate CopyTrader app and focuses on spread betting and CFD trading.
- Axi: The Sydney-based platform was founded in 2007 and has more than 60,000 customers in more than 100 countries. It has a copy trading app that runs through the Metatrader 4 (MT4) platform.
- IG: The London-based broker has been around since 1974 and has offered its services online since 1998. It has multiple features, including CFD trading in stocks, forex and other asset types, and direct investing in stocks and ETFs.
Disclaimer: Copy Trading does not amount to investment advice. Your investments’ value may go up or down. Your capital is at risk.
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Reviewing the best copy trading platforms in the UK
Take a more detailed look at these platforms based on factors, such as fees, security, available assets, and account minimums.
1. eToro: Early mover advantage in copy trading
eToro, which has always had a strong social trading component and a community feel, became one of the first online brokers to offer a copy trading platform. You can try its CopyTrader platform with no risk by using it in demo mode, which provides $100,000 in a virtual portfolio to practise with.
One of the advantages of copy trading with eToro is there are no additional fees, just the usual commission and spread you would spend on any trade. The experts (the traders being copied) are paid 1.5% of their annual assets included in the copy trading function. You can trade CFDs on stocks, forex, and ETFs, as well as directly invest in ETFs and shares.
While you can copy trade in an automatic fashion, allocating a portion of your funds to copy another trader, you can also do so manually. There are a few points to consider. The minimum amount you can invest in a trader is $500 and the maximum is $500,000. You can copy up to 100 traders simultaneously. eToro also offers the ability to buy fractional shares, though the minimum trade to copy is $2.
Some of the negatives for eToro is it requires $50 as a minimum deposit, and it has an inactivity fee of $10 each month on accounts with no transactions for at least a year.
Pros
- Easy-to-use copy trading platform
- No additional fees when copy-trading
- Plenty of social trading information
Cons
- Minimum copy trading investment of $500
- Non-UK markets attract an FX fee
Disclaimer: Copy Trading does not amount to investment advice. Your investments’ value may go up or down. Your capital is at risk.
2. Pepperstone: UK copy trading platform with plenty of instrument choices
The platform has a dedicated mobile app for copy trading that is easy to download on iOS or Android phones and can be used if you have a Pepperstone MT4 or MT5 account. In the app’s Discover tab, you can search for successful traders who are willing to be copied, called Signal Providers by Pepperstone.
One note is that there are performance fees connected with copy trading. If you copy a Signal that is charging a 30% fee and you make $100 profit, you will be charged $30. However, you can test out its copy trading with its free demo account.
The platform stands out as an excellent choice for UK traders who prioritize reliability, robust regulation, competitive pricing, and exceptional customer support. Pepperstone caters to diverse trading styles with two distinct account options: the Razor account, ideal for high-frequency and scalping strategies due to its tight spreads and low commissions, and the commission-free Standard account, better suited for swing traders and longer-term approaches with slightly wider fixed spreads.
Accessible in 160 countries, the platform boasts multilingual customer support available 24/5, ensuring traders receive timely assistance. The platform supports a wide array of assets, including commodities, cryptocurrencies, ETFs, forex, indices, and stocks, all executed with impressive speed. Pepperstone eliminates the burden of minimum deposits and waives fees associated with account maintenance, deposits, and withdrawals.
Pros
- Easy-to-use copy trading app
- There’s no minimum balance requirement
- Good for beginners and experienced traders equally
Cons
- The platform doesn’t offer direct share trading
- Its demo account only lasts 60 days
3. FP Markets: Great option for copying top-performing traders on MT4, MT5
FP Markets offers more than 10,000 tradable CFD products (including stocks, forex, indices, commodities, bonds and ETFs), as well as more than 60 forex pairs to trade. Its platforms include MT4, MT5, cTrader and Trading View. Copy trading is available on MT4 and MT5 and includes multiple copy trading modes and automatic trading.
The Providers (the traders who can be copied in real time) get a Performance Fee of as much as 50%, though it’s generally lower. Its copy trading includes a ratings table that shows the success of particular Providers. There is also a subscription fee of $25 a month to use Providers for copy trading.
FP Markets allows investors to trade with zero commissions and tight, 1-pip minimum spreads on a Standard Account. For tighter spreads, it has a Raw Account, starting from 0.0 pips, with a competitive $3 commission per side. UK investors enjoy flexible funding options, including debit and credit cards and popular e-wallets like PayPal and Skrill. The broker provides customer support via live chat, email and by phone.
While the minimum deposit to sign up with FP Markets is only $50, to use the copy trading, you’ll need to use MT4 or MT5, and the minimum deposit for using those platforms is $100. While FP Markets accepts clients from the UK, it’s not regulated by the FCA. FP Markets has a demo account that is not time-limited and includes $100,000 of virtual currency.
Pros
- Large choice of trading platforms
- Demo account with $100,000 in virtual currency with no time limit
- Negative balance protection
Cons
- Only offers CFD trading, no direct investments
- Relatively high fees for copy trading
4. Admiral Markets: Copy, mirror trading, great educational resources
The platform offers copy trading for UK traders, where they can mimic the trades of top traders on a leaderboard. They also have the ability to set their own stop loss and take profit levels according to their risk appetite, along with the ability to copy a leader’s positions, based on ratios set by the user. Admiral also has mirror trading, where you can replicate another trader or a trader’s strategy on an automatic basis.
Admiral offers several trading platforms, including MT5, MetaTrader WebTrader and an Admiral Markets mobile app. If you use MT5 with Admiral Markets, traders can use the broker’s educational articles library, premium analytics portal, and regular market analysis. The MT5 broker allows copy trading where users can automatically mirror a specific investor’s trades, based on a certain ratio set by the user.
The minimum deposit to open an account is the equivalent of $100, or £250 to begin trading on an MT5 account. Investors who have a positive balance in their account but haven’t traded for 24 or more months will be charged an inactivity fee of €10 a month.
Some of the positive features for Admiral Markets are fractional trading, negative balance protection and a demo account that lasts 30 days with $100,000 in virtual funds that can be extended if a user opens a live account.
Pros
- Large amount of educational materials
- Copy trading and mirror trading
- Plenty of CFD trading options and more than 80 forex pairs
Cons
- Its demo account lasts only for 30 days without signing up
- Inactivity fee of €10 a month after two years of no trades
5. PrimeXBT: Best platform in the UK for copy trading with cryptocurrencies
PrimeXBT copy trading function is straightforward. It offers advanced charting tools, customizable workspaces, versatile order types, and the Covesting copy trading module. Copy trading with PrimeXBT is straightforward. If you have a live account, you can choose a profitable trader, called “Strategy Providers” in the copy trade module by using the filter option that shows the total profit of each trader, the total AUM, and the number of followers.
You can copy trade forex, cryptocurrencies, stock indices, and commodities with PrimeXBT. Copy traders can use advanced risk management tools designed to limit potential downsides. Some Strategy Providers earn up to 20% of the profits a copy trader earns.
PrimeXBT is not regulated by the FCA, Instead it carries licences from regulators in the Seychelles, Mauritius and South Africa. It offers CFD trading on crypto, forex, commodities, futures and stock indices, but not direct share trading. It also has an inactivity fee that varies, depending on the account.
Some of the positives for PrimeXBT are a customer support team that is available 24/7 through email or live chat, low trading fees and a minimum deposit requirement of only $15. It also has a free demo account with $10,000 in virtual funds.
Pros
- Low trading fees
- Plenty of advanced risk management tools associated with copy trading
- Low minimum deposit requirement
Cons
- Limited number of investment choices, including no direct share investing
- Not regulated by the FCA
6. TradeNation: Keeping fees low on its dedicated app for copy trades
The company promotes copy trading through a TradeCopier mobile app, available for Android or IOS phones and it works through a TradeNation-branded MT4 account. Trade Nation presents several advantages for active traders, including no minimum deposit and no inactivity fees.
In addition to its in-house platform, TN Trader, it utilises advanced trading platforms such as MetaTrader 4 and MetaTrader 5, which have features for technical analysis. The broker provides a demo account with $100,000 in virtual funds.
Frequent traders may appreciate Trade Nation’s low fixed spreads on trades, although trading is restricted to CFDs for forex, shares, indices, commodities, and cryptocurrencies. While the platform features a chatbot, live chat support for customer service is unfortunately unavailable.
While most of its fees are low, and there are no trading commissions, its forex fees are higher than some competitors. The TN Trader CFD and spread-betting accounts have fixed spreads, from 0.3 on forex majors (changes three times a day), from 2.0 on energy instruments, from 3.0 on metals, 1.8 on bonds, and from 0.1% on UK shares to 4 cents on US shares. The MT4 account offers variable spreads from 0.9 on forex majors to 1.8 on indices, 4.3 on crude oil, and 1.05 on metals.
Pros
- Great flexibility in platform choice
- Low, fixed spreads
- No minimum deposit requirement
Cons
- No live-chat in customer service
- Forex fees are higher than some competitors
7. Axi: UK CFD and forex platform making it easy to copy trade
The platform, regulated by the FCA in the UK, focuses on CFD trading in stocks, indices, forex, commodities and cryptocurrencies. Its Copy Trading App charges a performance fee that is capped at 50% of profits. There’s no minimum deposit required for copiers and the process of setting up to copy trade is simple. It has standard, pro and elite accounts.
There’s no commission and Axi’s spreads start at 0.9 pips for the standard account, $7 per lot for pro account, $3.5 per lot for Elite account. Axi provides tools to help you research and pick suitable traders to copy from, based on their performance history, trading style and risk profile. Once you choose a trader to follow, your trades will mimic theirs, adjusting for your account size and risk tolerance.
It has more than 80 forex pairs available to trade. Stock traders can go long or short, meaning gains can be made from rising and falling prices. Axi also supports leverage of up to 1:5 when trading stocks. Other assets come with higher leverage levels, including forex, gold, and major indices.
Pros
- No minimum deposit
- No commissions on trades
- More than 80 forex pairs available to trade
Cons
- High profit-sharing fees of up to 50% on copy trading
- Only CFD trading is available, no direct share investing
8. IG: Plenty of CFD and non-CFD trading, but limited copy trading
The company permits trading in shares, investment trusts, bonds commodities, indices, forex and ETFs as well as the ability to do spread betting and CFD trading. It offers more than 13,000 shares, funds, and investment trusts in non-CFD trading with share trading costing a £3 commission if investors made three transactions in the prior month. The company also offers IG Markets Smart Portfolios.
IG sponsors copy trading through its IG Markets MT4 account, but that account is primarily a forex and CFD trading account and the other assets available are limited. It also has a demo account, but that is only available for spread betting and CFD trading. The minimum investment is £50 via bank transfer or £250 if you use a debit or credit card.
Some of the negatives for IG is it doesn’t permit fractional trading and its demo trading account is limited to $20,000 in virtual funds.
The maximum leverage is 1:30, and both long and short trading is available. Another plus is that IG offers competitive fees. No commissions are charged when trading forex and minimum spreads are 0.6 pips. In addition to forex, IG supports indices, stocks, and commodities.
Pros
- Solid, established company that is regulated by the FCA
- Great for trading forex with 0% commission and low spreads
Cons
- Higher fees for non-CFD trading
- Limited virtual funds of $20,000 on the demo account
- The copy trading function is limited to the MT4 platform
This is how copy trading works
Copy trading is an automated investment tool that enables users to copy another trader. It’s particularly popular with beginners, considering no investing or analysis knowledge is needed. The technique allows novices to benefit from the expertise of seasoned professionals without requiring in-depth market knowledge.
When it works, beginning investors see improved success and the experienced investors they copy gain as well with many platforms paying them a bonus based on the number of traders following them.
Copy-trading platforms allow investors to explore trader profiles, evaluating their performance metrics, trading strategies, and risk tolerance. Investors can then allocate funds to automatically replicate the positions of chosen traders.
A great advantage is that copy trading is suitable for all budgets. Position sizes are proportionate to what you originally invested. They’re also based on how much the trader risks from their capital balance.
For example, suppose the trader has £10,000 in their brokerage account. They risk £1,000 on a GBP/USD forex trade, which is 10% of the bankroll. Let’s say you initially invested £200 into that trader. Your GBP/USD position will be worth £20. That’s 10% of the £200 you invested.
A significant risk in copy trading lies in the “hot-hand fallacy.” Following traders with recent impressive performance, without considering underlying strategies, can be misleading. Leaderboards can be valuable for identifying high-performing traders, but they can also perpetuate the belief that sustained success is guaranteed, which is often unfounded.
You can limit this disadvantage by carefully researching the traders to copy. The best copy trading platforms provide performance metrics. This enables you to see the trader’s historical performance in safety.
The two main types of copy trading
Copy trading comes in two different formats:
First, regulated brokers such as eToro offer in-house copy trading tools. This means you can copy traders without needing third-party platforms. Crucially, trades are executed by the same broker, offering an all-in-one experience.
Alternatively, some copy trading providers require integration with external platforms. The most popular option is MT4, which is a connected trading platform that supports copy trading. This means you copy a trader from MT4 and connect the MT4 software to the brokerage account. There are also dedicated providers, such as ZuluTrade and DupliTrade, which brokers can partner with.
Either way, copy trading is a simple process. Any buy or sell orders made by the trader are automatically replicated in your account. So, if the trader generates returns of 7% in the first month, you’d also make 7%. Do note that some providers charge profit-sharing commissions. This means you lose some of the generated gains.
A copy-trading example:
Now let’s explore copy trading through an example:
- You deposit £1,000 into a copy trading platform and invest the full amount into mirroring a stock trader.
- The trader short-sells BP stock, risking 3% of their capital balance. They apply leverage of 1:5.
- You automatically replicate the same trade, risking £30 (3% of £1,000).
- The BP trade makes a 10% profit. You make £3 (10% of the £30 position size).
- However, leverage of 1:5 was applied by the trader, so that £3 profit is amplified to £15.
Ultimately, no manual intervention is needed when copy trading. This will suit beginners who want exposure to the financial markets but don’t have the required knowledge.
Why engage in copy trading
Copy trading offers several advantages to UK investors. Here are the key benefits:
Trade without prior experience
With most retail clients losing money when investing online, trading is risky unless you have prior knowledge. Copy trading provides a workaround. You’ll be copying a successful trader with a proven track record, tapping into expert insights without lifting a finger.
Automated trading
Copy trading offers an automated investing experience. This will appeal to those seeking passive returns. No manual intervention is needed once you’re set up.
Diversify into multiple assets
The best copy trading platforms in the UK support multiple asset classes, offering an ideal way of diversifying into markets you might not be too familiar with.
For example, eToro is a great option for trading cryptocurrencies. It supports the best cryptocurrencies, including Solana, Ethereum, and Dogecoin, as well as Bitcoin.
Summary of the pros & cons of copy trading
Take a look at some of the advantages and drawbacks of copy trading:
Pros
- Invest in the financial markets without prior knowledge
- Benefit from a 100% passive trading experience
- Diversify into multiple asset classes and markets
Cons
- Profit-sharing fees can often eat into returns significantly
- Copying other traders can result in larger losses if they do poorly
- Some platforms require third-party integration
What types of assets can you copy trade?
Supported assets and markets depend on the broker providing the service, such as FP Markets or Pepperstone. Third-party platforms like MT4 and MT5 don’t directly execute copy trading positions.
For example, if you’re using eToro, you can only trade instruments available on eToro. This covers over 6,000 markets, ranging from stocks, forex, and ETFs to crypto, indices, and commodities.
The best copy trading platforms in the UK typically support the following markets:
- UK and international stocks
- ETFs
- Major, minor, and exotic forex pairs
- Commodities, including precious metals, energies, and agricultural products
- Global indices
- Top cryptocurrencies, including Bitcoin and Ethereum
If you are interested in the latter, we also have a guide specifically to the best crypto copy trading platforms.
What are DupliTrade and ZuluTrade?
When you consider copy trading, you might have come across ZuluTrade or DupliTrade among services your broker is offering. Both of these platforms allow copy trading, ranking traders to duplicate. They are broker agnostic, meaning they can be used with other brokers.
In order to use DupliTrade or ZuluTrade, you will need to set up a trading account with one of its regulated broker partners. Here are the main features of these platforms:
ZuluTrade: Free platform has protections for investors
The London company’s main focus is on social trading and copy trading and is a free platform that can be used with other brokers.
It allows you to link any MT4, MT5, ActTrader or X Open Hub broker account using its on-the-fly terminal connection within seconds. The company, founded in 2007 is part of the Finvasia Group. The platform lets investors copy the strategies of signal traders and then carry out these strategies to trade on different brokerage platforms that are partnered with ZuluTrade. Some other top features of ZuluTrade:
- ZuluGuard: Is a protection mechanism that analyses your account, and if it sees that your exit value exceeds the designated limit, it closes all positions and disables traders from your account. This is done to prevent losing your investment.
- Automator: The automated system allows traders to set up their own strategies, and execute trades based on pre-set rules. It can also be used to set up stop-loss and take-profit orders.
- ZuluScripts: Trading scripts that allows traders to deploy fully automated trading robots and indicators from their ZuluTrade account, and without the need of using third party apps or software.
DupliTrade: Selective regarding leading investors to copy
The platform, based in Greece is a broker agnostic company that promotes copy trading and has been around since 2007.
Like ZuluTrade, DupliTrade can be used with various brokers. It focuses on carefully selecting professional investors whom it calls “Strategy Providers,” putting them through a thorough audit before allowing DupliTrade users to follow their trades.
Some other top features for DupliTrade:
- Automated copy trading: Trades from selected strategy providers are executed in your account automatically.
- Simulator: This tool allows investors to back test the trades of Strategy Providers, while choosing various time frames and fund allocations to analyze past performance.
- Algo trading: The algorithmic trading on DupliTrade is mostly applied to the forex market but also includes other asset classes such as commodities (gold, crude oil etc.), equities and indices. It enables trades to be executed simultaneously and at optimized price ranges.
How profitable is copy trading?
Copy trading can be profitable, but losses are also possible. Returns are dependent on how the copied trader performs.
For example:
- Let’s suppose you invest £500 into a commodity trader. That trader generates a 20% gain after the first month. Excluding fees, this means your copy trading portfolio has grown to £600. That’s a £100 profit.
- However, in the second month, the commodity trader makes a 30% loss. This reduces the portfolio balance to £420. That’s an £80 loss based on the original £500 investment.
Top Tip: Consider diversification by copying multiple traders, covering various assets and strategies. This mitigates the risks and ensures you’re not too exposed to any single trader.
What’s the difference between copy trading and mirror trading?
These concepts differ in their level of customization.
Copy trading provides greater flexibility, allowing you to selectively follow a trader’s decisions. You can choose which trades to replicate, adjust the size of your investments, and set risk limits according to your own preferences.
In contrast, mirror trading involves precisely replicating every trade of a chosen strategy or trader without any modifications. It’s a more rigid approach, mirroring all actions exactly as they occur.
Copy trading fees explained
Here’s an overview of what type of fees to expect:
- Commissions: Some copy trading platforms charge a commission linked to each trade. For example, Pepperstone’s Razor account charges a £2.25 commission per side, that means, for buying as well as selling.
- Spreads: It’s the gap between the buy and sell prices of the respective asset. For example, Trade Nation’s s[read’s start from 0.3 on forex majors. This means the price of the instrument must increase by at least 0.3 pip for the trade to break even.
- Profit-sharing: Not all copy trading platforms charge profit-sharing commissions. If they do, the percentage is chosen by the trader. For example, those signing up for Axi’s copy trading program can charge up to 50%. This means you’re giving away half of your profits.
- Upfront or monthly fees: Copying traders or bots from MT4/MT5 can result in additional fees. Most ‘signal providers’ either charge an upfront fee or a monthly subscription. These fees should be built into the overall profit and loss.
Ultimately, make sure you understand all applicable fees when choosing a UK copy trading platform.
Is copy trading legal in the UK?
Copy trading is perfectly legal in the UK. It’s merely an automated tool that replicates other investors.
That said, trades must be only executed by an FCA-regulated broker. Or one that’s approved to operate in the UK. We’d suggest checking the FCA register before opening an account.
How to start copy trading in the UK
Follow the steps below to start copy trading in under 10 minutes.
Note: We show the required steps with the eToro copy trading tool. The process is similar when using other providers, assuming they offer copy trading and a direct brokerage.
Step 1: Join eToro – Visit eToro and register an account. This requires personal information and a verified mobile number and email address.
Step 2: Upload ID – Upload a valid passport or driver’s license to get verified. This will remove withdrawal restrictions.
Step 3: Deposit funds: You need at least $200 (about £150) to copy an eToro trader. GBP payments are free and instant when using Visa, MasterCard, PayPal, and Skrill.
Step 4: Choose a trader: Click the ‘CopyTrader’ button and begin the research process. Use the available filters to find the ideal trader to copy.
Step 5: Complete copy trading investment: Click the ‘Copy’ button once you’ve selected a trader. Choose the investment size and confirm. All future positions will be copied automatically.
Note: You can add or remove assets to the copy trading portfolio at any time.
Our methodology
Rating the top copy trading platforms in the UK requires a transparent methodology. Our most important research criteria are summarized below:
- Copy trading pool: The best platforms have a large pool of talented, successful traders, giving UK investors ample choice. eToro, for example, provides access to thousands of verified traders.
- Search filters: Investors should have the required tools to find a suitable trader, meaning diverse search filters. This should include past performance, maximum drawdown, and preferred markets.
- Fees: Copy trading fees are also important, including commissions, spreads, and profit-sharing agreements. We also considered deposit and withdrawal fees.
- Supported assets: Our methodology prioritized UK copy trading brokers offering a wide range of assets and markets. The top providers support thousands of stocks, forex pairs, commodities, indices, and ETFs.
- Direct broker or third-party platform: We found beginners prefer direct copy trading platforms, meaning third-party integration isn’t needed.
- User experience: We also tested the user experience on desktop and mobile devices, from opening an account and depositing funds to choosing and monitoring copy traders. The user experience was tested.
- Minimum investment: Some copy trading platforms don’t require a minimum deposit, while others need at least £250 (e.g. IG when using a debit/credit card). Do note the minimum deposit can differ from the minimum copy trading investment.
- Security and trust: The top-ranked platforms are authorised and regulated by the FCA and covered by the FSCS. This provides UK investors with a secure and trusted trading environment.
FAQs
Is copy trading a good idea?
Is copy trading suitable for beginners?
What are the drawbacks of copy trading?
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What’s the difference between copy trading and social trading?
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Does copy trading really work?
References
- Contract for differences (CFD) (Thomson Reuters)
- Copy trading (FCA)
- Welcome to the financial services register (FCA)
- What we cover (FSCS)
Disclaimer: Copy Trading does not amount to investment advice. Your investments’ value may go up or down. Your capital is at risk.