Many traders in India use mobile apps to trade. Many brokers operate in this country, each offering their own platform. Before making a choice, it is important to evaluate apps to find the one that perfectly suits your goals and strategy. TU analysts compared Top 5 mobile apps. You will be able to choose the Best Copy Trading App in India for 2024, based on our assessments.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
MXC is a cryptocurrency exchange and P2P platform specializing in crypto/crypto trading pairs. The company offers a proprietary terminal and staking for passive investment.
The broker is suitable for traders with a basic trading experience, who are prepared to start trading on a real account right away.
NPBFX is a universal broker providing services on off-exchange financial markets. Trading conditions are suitable for traders with any level of knowledge and opportunities. Investors have access to ZuluTrade social trading.
1
Best Copy Apps in India - RoboForex
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 Advantages of trading with RoboForex for traders in India:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders in India:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
2
Best Copy Apps in India - Exness
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
👍 Advantages of trading with Exness for traders in India:
•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;
•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees;
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders in India:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
3
Best Copy Apps in India - MEXC
The MXC cryptocurrency exchange (MXC.com) has been operating since 2018. The company is registered in Singapore, which is a loyal digital asset jurisdiction. The platform offers clients trading and P2P exchange services. The main specialization of the trading platform is to provide clients with crypto/crypto trading services with currencies such as Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT). The undoubted bright side of the platform is access to cryptocurrency ETF funds.
👍 Advantages of trading with MEXC for traders in India:
•120+ cryptocurrencies for trading;
•receive additional income through staking and holding;
•an affiliate program with income up to 80% of the deposit of the invited trader.
👎 Disadvantages of MEXC for traders in India:
•commissions of 0.2% per trade;
•withdrawal fees (0.0005 BTC for Bitcoin);
•lack of support for fiat currencies for trading;
•no MAM or PAMM accounts;
•mandatory verification.
4
Best Copy Apps in India - 4XC
4XC offers access to trading Forex, metals, indices, oil, forward contracts, and cryptocurrencies, over 80 trading instruments in total.
4XC provides competitive conditions such as leverage up to 1:500 and spreads starting from 0.0 pips. The broker supports multiple account types including Standard, Pro, and VIP, each tailored to meet different trading needs and strategies.
For passive investing, the broker provides PAMM accounts and social trading service. The Signal Centre at 4XC enhances trading with premium AI signals integrated via the easy-to-use Acuity Trading Tool plugin, which seamlessly integrates into MetaTrader 4/5 platforms. Also, the broker provides additional free trading signals on its website.
👍 Advantages of trading with 4XC for traders in India:
•Attractive trading conditions for beginners. Minimum deposit is USD 50 with leverage up to 1:500. This amount is enough to open a position on some assets within the rules of risk management;
•Relatively narrow spread: from 1 pips on the Standard ECN account;
•Good educational opportunities: structured courses for beginners, advanced traders and experts.
👎 Disadvantages of 4XC for traders in India:
•Withdrawal fee (except for the VIP account). Withdrawals are limited to one transaction per day;
•The FAQ section does not fully answer the questions of a potential trader.
5
Best Copy Apps in India - NPBFX
NPBFX is a long-standing broker offering competitive spreads starting from 0.4 pips and leverage up to 1:1000. Traders can access a variety of markets including Forex, oil, stocks, and indices. Account types range from beginner-friendly Master account to more advanced options like Expert and VIP accounts.
NPBFX has fast order execution speeds (50-70 ms), making it suitable for scalping and high-frequency trading. Moreover, the broker explicitly indicates that these approaches are welcomed. However, clients should note that the only available trading platform is MetaTrader 4.
NPBFX doesn't hold licenses from major regulators, but the broker is a member of the Financial Commission, offering some level of deposit insurance and dispute resolution.
👍 Advantages of trading with NPBFX for traders in India:
•The broker provides traders with best market prices supported by liquidity from Tier 1 banks and ECN systems, such as Integral, Currenex, and Hotspot;
•Membership in the Financial Commission provides up to EUR 20,000 insurance coverage on deposits of traders;
•social trading with access to the independent ZuluTrade platform;
•Loyal trading conditions. Minimum deposit is $10 with leverage up to 1:1000;
•all strategies are allowed, including scalping, hedging/locking, and algorithmic high-frequency trading on all types of accounts.
👎 Disadvantages of NPBFX for traders in India:
•compared to other brokers, the speed of copying trades on ZuluTrade is not the fastest;
•no MT5 trading platform, which has unique advantages over MT4;
•There are no licenses from regulators. The broker is a member of the Financial Commission, which does not always support traders and is not authorized to recover fines imposed on brokers;
•no cent accounts.
What is a Copy Trading Software
A copy trading software is a platform that offers newbie traders the opportunity to copy positions from expert traders. Brokers can easily significantly increase their turnover since it presents new opportunities to anyone interested in the financial markets. While successful and expert traders can keep getting paid weekly or monthly by trading on their accounts, newbie traders, less experienced traders, those who don't want to trade, or anyone finding it difficult to make profits can copy the positions of the successful traders.
The primary benefit of copy trading is that it transfers the hard work of analyzing financial markets to others, making it relatively easy to manage your copy account and track results even from your mobile phone.
Copy trading is either offered through proprietary software or third-party platforms. Also, some brokers offer research tools and networking forums — for example, TradingView or Telegram.
How to Choose a Copy Trading App
Before you dive into the world of copy trading, it's essential to choose the right platform to get started. Here are five tips beginners can use to find the best copy trading app in India.
1. Research the Reputation
When selecting a copy trading app, it's crucial to delve into the platform's reputation. Conduct thorough research by reading user reviews, assessing ratings, and analysing feedback from traders who have used the app. Pay attention to recurring positive and negative comments to get a well-rounded view of the platform.
A copy trading app's reputation often reflects its reliability, security, and user-friendliness. Look for platforms with consistently positive reviews and a strong online presence, as this can be an indicator of trustworthiness.
2. Consider Regulation
When choosing a copy trading app, make sure it is regulated by the appropriate authorities. Regulatory oversight provides an additional layer of security and helps protect your funds.
The best copy trading apps are transparent about their regulatory status, and they often display this information prominently on their websites. Verify that the app complies with the regulatory requirements set by Indian authorities, which may include adhering to anti-money laundering (AML) and Know Your Customer (KYC) regulations.
3. Evaluate Features
The features offered by a copy trading app play a significant role in your trading experience. Look for platforms that provide a wide range of assets, including cryptocurrencies, Forex, stocks, and commodities. A diverse asset selection allows you to create a well-balanced and diversified portfolio.
User-friendly interfaces are also essential, especially for beginners. The best copy trading app makes it easier to navigate and execute trades effectively. Additionally, consider risk management tools such as stop-loss orders and take-profit options, which can help protect your capital and maximise your profits.
4. Test with a Demo Account
Before committing real funds, it's wise to get a feel for the platform using a demo account. A demo account allows you to explore the copy trading app's functionality without risking your capital.
During this trial period, familiarise yourself with the platform's interface, understand how to find and follow traders, and practice risk management. This experience will give you the confidence and knowledge needed to make informed decisions when you start trading with real money.
Is Copy Trading Allowed in India?
In India, copy trading is a practice that is generally allowed. It has gained immense popularity among traders, whether they are beginners looking to learn from experienced professionals or seasoned investors seeking diversification in their trading strategies.
Copy trading enables investors to replicate the trading strategies of skilled traders, allowing them to learn and profit from the experience of others. Unlike traditional managed accounts, copy trading does not involve handing over control of your funds to someone else. It's a self-directed method, and traders maintain control over their investments.
Is Copy Trading Legal in India?
Yes, copy trading is legal in India. It operates under the premise that traders using this function actively choose the trading system they wish to copy. Unlike the old model of managed accounts, where a professional trader manages your investments, copy trading offers more transparency and control to individual traders.
However, it's important to note that while copy trading is legal, the regulatory environment in India concerning cryptocurrency trading is evolving. The government and financial authorities are continuously updating their stance on cryptocurrencies and trading practices. Therefore, traders should stay informed about any changes in regulations to ensure they are in compliance with the law.
How to Start Copy Trading in India
If you're interested in embarking on your copy trading journey in India, here's a detailed step-by-step guide:
1. Choose a Reliable Copy Trading App
The first step is selecting a reliable copy trading app in India. Building on our earlier tips, consider factors such as reputation, regulation, and available features. Carefully evaluate multiple options before making a choice.
2. Sign Up and Verify Your Account
After choosing a platform, register for an account. During the registration process, you will be required to complete identity verification to comply with AML and KYC regulations. This step is crucial for both your security and adherence to legal requirements.
3. Fund Your Account
Once your account is set up and verified, deposit funds into your trading account. Decide on a budget and adhere to your risk management strategy. Avoid overextending yourself, and only invest funds you can afford to lose.
4. Explore Traders and Strategies
Browse through the available traders and their trading strategies on the platform. Take your time to assess their past performance, risk profiles, and investment styles.
Consider factors such as the trader's success rate, drawdowns, and the consistency of their trading. Diversify your portfolio by selecting a range of traders with different trading styles to minimise risk.
5. Start Copying
Once you've identified traders you want to follow, allocate a portion of your capital to copy their trades. Your account will automatically replicate their trading actions. Monitor your account closely to track the performance of your chosen traders.
6. Monitor and Adjust
Continuously monitor your copy trading account. It's essential to stay informed about the market and the performance of the traders you follow. If a trader's performance falters or if market conditions change, be ready to adjust your strategy accordingly.
Best Copy Trading App in India 2024: Education for Investors
When choosing the app, it is important to consider educational tools offered by brokers. TU analysts prepared a comparison of educational programs.
RoboForex - Education for Investors
Investment Education Online
A large training section has been created on the RoboForex website. Each trader will receive the necessary information for successful trading — from the basics of the Forex market to analytics, reviews of trading strategies, advisors, and indicators.
The company's specialists recommend opening a demo (practice) account and educating yourself by obtaining and later applying theoretical knowledge in practice by actually trading on the demo account, thereby combining theory and practice. Thus, you will gain valuable experience and the necessary skills to work on a real account.
Exness - Education for Investors
Investment Education Online
Currently, Exness doesn’t provide training for novice traders. If you want to learn basic Forex and CFD concepts, go to the Help section of the website. To develop practical trading skills, open a demo account.
NPBFX - Education for Investors
Investment Education Online
The section on the NPBFX website is a powerful analytical and educational tool where professionals can find a wealth of interesting materials.
A demo account allows users to put their newly acquired knowledge into practice.
Summary
In this review, you had an opportunity to learn about the features of 5 brokers, which traders in India choose the most. However, now you need to choose the best of them. You can do it using the scores given by the Traders Union. Check out the score table that will help you choose the Best Copy Trading App in India 2024.
| RoboForex | Exness | MEXC | 4XC | NPBFX | |
|---|---|---|---|---|---|
|
Overall score |
8.61 |
7.58 |
7.02 |
6.08 |
7.27 |
|
Execution of orders |
8.95 |
9.6 |
8.5 |
4.41 |
8.55 |
|
Investment instruments |
8.2 |
8.79 |
3.28 |
5.51 |
6.27 |
|
Withdrawal speed |
9.71 |
8.79 |
9.02 |
8.47 |
8.29 |
|
Customer Support work |
9.17 |
9.29 |
7.25 |
6.12 |
6.83 |
|
Variety of instruments |
8.75 |
8.02 |
7.1 |
8.02 |
7.67 |
|
Trading platform |
6.86 |
1 |
6.98 |
3.95 |
5.99 |
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FAQ
Does the functionality of apps differ from that of the web version?
It depends on the broker. A good quality mobile app replicates the functionality of the web version either fully or as much as possible.
Can a platform function less effectively in the app than in the web version?
The platforms of reliable brokers with good apps work as smoothly as the web version. Therefore, there are almost no instances when the app runs poorly and the web version runs well. That may happen only in case of technical failures, which also happen rarely if the app is good.
Are there versions of the apps for tablets?
In some cases, Forex brokers develop separate versions of apps for smartphones, tablets and even for TV sets.
If I remove the app from my phone and then reinstall it, will I lose the information?
No. The information is stored in the user account on the server. You will need to enter your username and password, pass two-factor authentication (if applicable) and you will have full access to your information.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).