Short-term traders interested in trading or with limited time to stay up-to-date on market trends can profit more by copy trading. By screening and evaluating traders who have proven track records and copy trading portfolios, the management software provides novice and professional traders the chance to profit.
With various brokers offering the copy trading option to their customers, it is essential to research and analyze each platform to ensure they are managed and appropriate to your requirements.
If you are a novice trader, it’s best to work with reputable and certified brokers with extensive monitoring. TradersUnion has taken care of monitoring and curating top brokers over the past ten years. And with more than 300,000 members and counting, you can also begin your journey to trading. Begin your journey by joining TradersUnion today. Let’s learn about the best copy trading platforms in Australia.
AvaTrade
Seventy-one percent of accounts for retail investors have losses when trading CFDs using this service.
A well-known global brand known for its ability to provide traders with a range of trading platforms. AvaTrade can be an excellent choice that allows copy-trading. It is responsive to mobile devices and offers a competitive price compared to the industry’s average in terms of research as well as pricing. AvaTrade can also be a top choice for its ability to educate its customers.
Learn further regarding AvaTrade Copy Trading
In 2006, AvaTrade was founded. AvaTrade is a secure broker for CFDs and Forex trading. It is licensed in three jurisdictions, tier-1 and tier-2. Regarding fees, AvaTrade is not a low-cost platform for trading, except for professional European traders. EU. Its copy trading platforms include its proprietary platform, MetaTrader, DupliTrade, and ZuluTrade, to facilitate social trading. The diversity of its trading options gives it a competitive edge.
AvaTrade is a good choice because it protects its clients from negative balances. It is a global company and has locations across a range of nations. It is regulated by many of the most trusted organizations for forex and financial trading across multiple regions. Its disadvantage is that its account a data-tooltip “How to open a Demo Forex Account free of charge?” demo account has a lifespan of 21 days which is relatively short for many traders. Additionally, AvaTrade charges high inactivity costs, which is why they discourage casual traders.
ZuluTrade
Offering support for more than 40 forex brokers and the integrated service (AAAFx), Zulutrade is one of the top copy trading platforms since it makes it easy to link existing brokerage accounts to new accounts for investors. Zulutrade can also help filtering of brokers according to the minimum deposit.
With ZuluTrade, you are able to easily download a spreadsheet with all the trades that are simulated, and it’s entirely free to join. You’ll need only an interest spread. ZuluTrade permits copying and sharing of portfolios from other investors. One of the unique features in ZuluTrade is that it will send an alert if there is a margin call.
Established in 2007, with having a minimum deposit of 200 dollars, ZuluTrade has a friendly interface for its platform, and it has a lot of traders who can copy. One of the drawbacks associated with ZuluTrade is that its system for compensation of traders isn’t suitable for investors. Additionally, there are complaints regarding the illegal selling of customers’ personal information to brokers and the frequent duplicate trade mistakes.
Suppose you’re part of the growing number of Australians trading and buying securities online or are interested in starting. In that case, your choice of platform for trading can significantly impact the ease of trade, the amount you’ll pay in fees, and how easy it is to track the performance of your portfolio. Many platforms also provide various tools for research and education to assist you in choosing the right stocks.
How do you choose an exchange for shares?
An excellent starting point would be the Canstar Online Share Trading Star Awards and Ratings, which recognize the companies who have topped the list through thoroughly examining the platforms in our database.
The Star Ratings and Awards are determined based on the costs (e.g., brokerage charges) that platforms charge and the features and services they provide to investors. For more information on the eligibility guidelines and the complete results, go to the hub to find information on the Online Share Trading Star Awards and Ratings.
Be aware that when selecting Best Trading Platform Australia, conduct your research to make sure the platform you choose is suitable for your requirements. It is worth getting financial assistance if you require assistance with your overall investment objectives and strategy.
