Best Copy Trading Apps In France
The best copy trading platforms in France - eToro
The best 5 copy trading platforms in France:
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eToro (Copy Trader) - Overall best copy trading platform
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RoboForex (CopyFx) - Great for beginner traders in France
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Tickmill - Offers the MyFxBook copy trading service and other features for Forex analytics
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AvaTrade (AvaSocial) - Best copy trading app for beginners
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FXTM - Offers access to over 300 trading instruments for copying
Imagine having the ability to replicate the success of expert traders without the complexity. This is where copy trading comes in, allowing you to mimic the strategies of experienced investors. This article is dedicated to uncovering the standout copy trading platforms available in France, all with the invaluable assistance of Traders Union. As experts in the field, they've assessed these platforms, considering factors like security, fees, and trading terms, to provide you with informed choices that enable French traders to find the perfect fit for their trading goals.
Copy Trading Platforms in France - Comparison
Forex copy trading gives beginners more confidence when they start trading. It's like learning from the best by copying what they do. With copy trading, you can use the same strategies as the pros. Check out the table below to see how the experts at Traders Union (TU) compared the best five copy trading platforms that people in France can use:
| Minimum Deposit | Markets | ||
|---|---|---|---|
eToro (Copy Trader) |
$200 |
US Stocks, Forex, Crypto, ETFs |
|
RoboForex (CopyFx) |
$100 |
Over 12.000 assets Forex, stocks, ETFs, crypto |
|
Tickmill |
$100 |
Forex, Stocks, Crypto, Bonds |
|
AvaTrade (AvaSocial) |
$100 |
Crypto, Forex, Stocks, ETF, Bonds, commodities, and CFDs |
|
FXTM |
$100 |
Forex, Stocks, CFD |
eToro (Copy Trader) - overall best copy trading platform
eToro is a multi-asset investment platform that offers market analysis, comprehensive tools, and impressive copy-trading capabilities. Through the eToro CopyTrader feature, users can explore the profiles of successful traders and copy their trades. eToro also offers CopyPortfolios, which group assets based on a specific market approach, providing diversified investments. The platform has a user-friendly interface, educational resources, and innovative trading tools.
👍 Pros
• Well-regulated platform
• User-friendly interface and copy trading features
• Innovative trading tools
👎 Cons
• Limited educational resources
• Wide spreads resulting in higher trading costs
RoboForex (CopyFx) - Great for beginner traders in France
RoboForex's CopyFX is an investor-friendly platform that allows users to copy the trading strategies of professional traders without needing prior experience. With complete control over their investments, users can subscribe to professional traders, copy their transactions, and benefit from the Forex market. The platform offers user-friendly tools and a transparent interface, making it an excellent opportunity for both investors and traders. You may also be interested in reviews about RoboForex from clients in France.
👍 Pros
• Convenient tools for investors
• Transparent trading control
• Options for Traders on Profits/Commissions
• All-in-one trading account
👎 Cons
• Limited filters
• High commissions
• Registered offshore
Tickmill - offers the MyFxBook copy trading service and other features for Forex analytics
Tickmill is a platform that offers various analytical instruments for Forex trading and copy trading. It partners with MyFxBook to provide copy trading services, and users need accounts on both platforms. Tickmill has a high entry threshold for copy trading, with a minimum investment of $1,000. The platform is licensed by respected regulators such as FCA, CySec, and FSCA, ensuring safety and regulation.
👍 Pros
• Partnered with MyFxBook for copy trading services
👎 Cons
• High entry threshold for copy trading
AvaTrade (AvaSocial) - best copy trading app for beginners
AvaTrade is another leading trading platform offering social and copy trading services. The platform provides secure investments with high regulations, including the Central Bank of Ireland and ASIC. Users can access the AvaSocial mobile trading platform to copy top traders easily. With collaboration with top copy trading providers like ZuluTrade, DupliTrade, and MQL5, users gain access to thousands of signal providers and investors.
👍 Pros
• User-friendly mobile social trading platform
• Collaboration with top copy trading providers
• Wide range of instruments and markets
👎 Cons
• High minimum deposit
FXTM - offers access to over 300 trading instruments for copying
FXTM introduced its user-friendly copy trading services in 2016, catering to both experienced and novice traders. With a minimum investment of $100, FXTM offers a wide range of deposit and withdrawal options and access to over 250 instruments in various markets, such as CFDs, stocks, and Forex.
👍 Pros
👎 Cons
• FXTM does not provide services to residents of countries like the USA and Japan
• FXTM does not support Myfxbook or ZuluTrader options for social trading
Rules and Regulation
Licensing
Cryptocurrencies in France are overseen by the French financial regulator AMF. It supervises crypto exchanges and sets licensing conditions for them.
Investor protection
The legal framework for crypto exchanges is established by the Digital Assets Law (Loi Pacte) passed in 2019. In case of a crypto exchange’s bankruptcy, compensation for traders’ losses is not provided.
Taxation
Crypto traders in France must pay taxes. Traders and investors pay a 30% PFU (flat tax). Consulting with a tax expert is recommended.
What is Copy Trading?
Copy trading is an increasingly popular kind of social trading. This strategy allows new traders to either automatically or manually copy the trades of professional traders on the Forex and other financial markets.
Modern copy trading platforms have features that let users subscribe to traders and start copying their trades, either with a small amount of money or their whole account balance. Each position created by the copied trader, including stop-loss and take-profit orders, is immediately executed on the account of the copier. It is also possible to generate a portfolio analogue from multiple signal providers.
How to choose a copy trading broker in France
Here are some suggestions from experts at TU for the best copy-trading brokers in France:
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1
Research copy trading Forex brokers that accept clients from France
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2
Pick an interactive trading website where many people are connected
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3
Analyze the fees and rules of the broker
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4
Pick the one you are most comfortable with
How can I find good traders to copy?
In Forex copy trading, success comes from results. The Traders Union experts recommend considering important factors when choosing good copy traders, using eToro. Identifying skilled traders to copy involves careful consideration and research, utilizing platforms like eToro and RoboForex as effective examples. On eToro, you can browse through traders' profiles, assessing their performance, risk scores, and trading strategies. Look for consistent, sustainable gains over time and consider diversification by copying multiple traders with varying approaches.
RoboForex, employing its CopyFX system, allows you to evaluate traders based on performance statistics, risk levels, and trading styles. Focus on traders with a proven track record of managing risk and generating consistent profits. Both platforms facilitate transparency by providing historical performance data and risk metrics. Engage with their respective communities, interact with traders, and utilize the insights shared to make informed decisions.
How much can I earn?
Your earnings as a copy trader can depend on various factors. As a beginner, you will find it difficult to copy the trades of professional traders, hence, you may end up making low earnings. However, after choosing and copying professional traders, you might earn more.
As it said above, usually the best professional traders can make from 5% to 30% per month, however such a range is not constant. Remember that the risk of loss remains in any kind of investment.
Is Forex copy trading risky?
Forex copy trading carries certain risks that need to be carefully considered. The level of risk can depend on factors such as the choice of broker and the trader being copied. To reduce these risks, you should diversify your portfolio by copying multiple traders rather than relying only on one. Also, setting a maximum drawdown limit can help control possible losses. Note that, even with these risk mitigation strategies, forex copy trading does not guarantee a 100% success rate. As a copy trader, it is important to research and analyze the traders before copying them and to also approach copy trading with realistic expectations.
Summary
French traders must exercise caution when delving into copy trading, recognizing the potential risks that demand careful consideration. As a newcomer to the trading arena, diligent research is paramount before engaging with these seemingly facilitative features, as their convenience does not equate to risk-free rewards. It is prudent to embark on this journey with a platform offering a DEMO account, such as eToro, which allows you to experiment with diverse techniques without financial risk.
FAQs
How risky is copy trading?
Copy trading carries risk due to market changes and the potential for losses when copying another trader. You can manage these risks by diversifying and doing your research.
How much money do I need for copy trading?
Copy trading costs differ from platform to platform and from trader to trader. Make sure to find what fits your budget and risk level, and only invest what you can afford to lose.
Is copy trading good for beginners?
Copy trading can attract beginners, but as a beginner, you should research traders, understand risks, and learn the trading basics for a balanced approach.
How do I start copy trading?
Start by choosing a trusted platform, researching and choosing traders to follow, signing up, depositing funds, monitoring performance, and considering diversification.
Team that worked on the article
Winnifred Emmanuel is a freelance financial analyst and writer with years of experience in working with financial websites and businesses. Her expertise spans various areas, including commodities, Forex, stocks, and cryptocurrency. Winnifred tailors her writing to various audiences, including beginners, while also providing useful insights for those who are already familiar with financial markets.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
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).