Best Copy Trading Apps In Italy
The best copy trading platforms in Italy - RoboForex
Best copy trading platforms in Italy:
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RoboForex (CopyFx) - best copy trading platform for beginners and professional traders
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eToro (Copy Trader) - overall best copy trading platform
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Tickmill copy trading - best analytical instruments for Forex trading and copy trading
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IC Markets - provides traders with 3 supported social trading networks with extra low fees
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AvaTrade (AvaSocial) - best copy trading app for novice traders
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Pepperstone copy trading - best broker with successful traders
Copy trading is among the best methods many traders in Italy could depend on to cash out from trading currency pairs without much Forex knowledge. Additionally, several Forex brokers are making this offer available along with other top trading features like PAMM accounts. Although there are numerous copy trading platforms in Italy, only the top copy trading apps give traders the unique tools they need to generate enormous profits. And that is exactly what this article will help traders with, especially inexperienced traders for whom copy trading features can be of great benefit.
So this article will provide Italian traders with the best copy trading platforms in Italy - five of these apps, to be precise. Read on to discover them.
Copy Trading Platforms in Italy - Comparison
The best way to start the unveiling adventure of the best copy trading platforms in Italy is to have them in a single folder where you can pinpoint each app's features. The minimum deposit and trading options offered by the top copy trading platforms in Italy are summarized in the table below.
| Minimum Deposit | Markets | ||
|---|---|---|---|
RoboForex (CopyFx) |
$100 |
Over 12.000 assets: Forex, stocks, ETFs, crypto |
|
eToro (Copy Trader) |
$200 |
US Stocks, Forex, Crypto, ETFs |
|
Tickmill |
$100 |
Forex, Stocks, Crypto, Bonds |
|
IC Markets |
$200 |
Forex, CFDs, commodities, Crypto, Stocks, Bonds |
|
AvaTrade (AvaSocial) |
$100 |
Crypto, Forex, Stocks, ETF, Bonds, commodities, and CFDs |
|
Pepperstone |
$200 |
Forex, Stocks, Crypto, Bonds |
RoboForex (CopyFx) - best copy trading platform for beginners
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.
👍 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.
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.
Tickmill copy trading - best analytical instruments
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.
• Licensed by respected regulators.
👎 Cons
• High entry threshold for copy trading.
IC Markets - 3 supported social trading networks with extra low fees
To copy trades with IC Markets, users can link their account to ZuluTrade, an innovative copy trading platform that allows duplication of successful traders' positions. With over 90,000 signal contributors, ZuluTrade provides access to a wide range of traders worldwide. The platform offers advanced features like ZuluGuard for capital protection and a user-friendly interface. Additionally, Myfxbook Autotrade allows traders to copy trades directly into their MT4 account.
👍 Pros
• Fast and easy connection with top brokers.
• All-in-one trading account.
• Dedicated crypto copy trading area.
👎 Cons
• ZuluRank algorithm could be improved
AvaTrade (AvaSocial) - best copy trading app for novice traders
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.
Pepperstone copy trading - best broker with successful traders
Pepperstone is a prominent copy trading platform that allows users to replicate successful traders' strategies. With access to platforms like MyFxBook, MQL5, and DupliTrade, users can open accounts with Pepperstone and its partners to engage in copy trading. They offer a wide range of markets and strategy providers, requiring a minimum investment of $1000.
👍 Pros
👎 Cons
• Copy trading is not directly available on the Pepperstone platform; users must connect to partner platforms.
• Minimum investment requirement of $1000 may be a barrier for some traders.
Rules and Regulation
Licensing in Italy
Crypto exchanges are overseen by the Italian Companies and Exchange Commission (CONSOB). CONSOB’s rules for crypto exchanges refer to compliance with Know Your Client and Anti-Money Laundering (KYC/AML) requirements, security of client assets, and regular submission of financial statements.
Investor protection in Italy
CONSOB is responsible for investor protection in Italy, but there are no specialized mechanisms for protecting cryptocurrency traders.
Taxation in Italy
Profits earned by private individuals from trading digital assets are subject to a 26% income tax, but only in the case when the profits exceed the value of EUR 51,645.69 in cryptocurrency. Tax rates change at the beginning of every year.
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.
In 2010, eToro was the first major broker to provide a copy trading platform. The creators combined the features of a social network for traders with a platform for copying trades.
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 Italy
Choosing the best copy trading platform in Italy requires the trader to make some underground assessments of the services the broker offers. Here are some of the factors a trader should consider before signing up with a copy trading platform in Italy.
You should first look into Italian-friendly copy-trading Forex brokers.
Next, look into the broker's regulatory standing and dependability. You should register with a broker who has a solid reputation.
Learn about the commissions, spreads, variety of trading instruments, and order execution quality when researching the broker's trading conditions. To increase their profitability, traders should locate a broker with a competitive cost structure.
You should research the network size because, in social trading, a larger network offers its members better opportunities because there are more traders to copy trades from.
Learn about the settings for choosing traders, risk management standards, and payment options. Determine whether the operations are transparent.
Every broker uses a different platform. Use demo accounts to become familiar with the platform's details before investing real money.
Because copy trading platforms occasionally experience issues and copiers require assistance using the menus, copy traders should ensure that support is available 24/7.
How can I find good traders to copy?
If you can find the best copy trading platforms in Italy, you are one step closer to finding the best trader to copy trading strategies from. However, if you do not proceed carefully, you might copy the trades of novices with subpar bankroll management skills and risky trading profiles. However, finding the best of these traders requires effort and skill.
To demonstrate what you should look for when looking for the best traders to copy, we will use RoboForex CopyFx. Open RoboForex CopyFx and register to view the profile of traders you can copy their trading strategies.
RoboForex CopyFx
Select the trader that catches your attention to have a personalized view of their profile.
RoboForex CopyFx
Below are guides or tips you can consider when looking for copy trading platforms in Italy to copy trading strategies.
1. Verify the level of confidence the followers have in the trader
How to Find Good Traders to Copy
Examining the degree to which their followers regard them with trust is the quickest way to spot a great social trader. In the same way, investigate the profits the followers are earning by heeding the signal provider. Examine how much other people have invested with them using real money (not practice accounts) to receive trader signals.
2. Find out the trader's monthly or annual returns
How to Find Good Traders to Copy
Negative returns are undesirable, but extremely high returns—despite being alluring—need to be carefully investigated. Make an accurate assessment of the annual return by analyzing the monthly returns to determine whether the performance is attributable to a particular month or months. However, to determine how consistently profitable the traders are, look at their profit charts. Avoid dealing with traders who have erratic graphical displays.
Particular care should be taken when dealing with traders who achieve winning percentages of 100% or even higher.
3. Calculate the number of trades the signal provider undertakes
How to Find Good Traders to Copy
It is important to consider how many trades the signal provider executes. A high value can indicate that a trader is knowledgeable and that their success is not the result of chance.
4. Assess the trader's maximum drawdown
How to Find Good Traders to Copy
Learn about drawdown because it refers to the amount of money a trader lost prior to making a profit again. You can calculate this by deducting a relative capital peak from a relative capital trough and then expressing the result as a percentage of the trading account.
5. Cross-examine the trader's transaction history
How to Find Good Traders to Copy
Consider looking up the trader's transaction history for a specific period. Here you will find the type of order the trader is accustomed to, the trading lots, symbols, open and close prices, and profits. Remember to check whether the trader employs the stop-loss function, a crucial risk management principle.
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?
Yes, Forex copy trading is risky, so traders must take precautions when copying the trading strategies of other traders. Market and liquidity risks are two major risks associated with Forex copy trading.
Remember that no trader is immune to failure, so there is no assurance that any trading strategy you copy will be successful. Again, both the copy trader and the expert trader could lose money if market conditions manage to shift in opposite directions. And as a copy trader, this will have an immediate effect on your investments.
Although trading success depends on the choice of copy trading platform in Italy and the expert trader, no trader is the lord of Forex trading.
Even the best Forex trader, whose profile shows 97 percent trading success, cannot guarantee trading success when you copy their trades. Setting up a portfolio with multiple managers and a maximum drawdown cap is preferable to reducing risks when copying a trader's trading strategy.
Summary
Copy trading offers the chance to follow the trades of knowledgeable and successful Forex investors. You can learn Forex trading strategies quickly and efficiently by copying the trades of a more seasoned trader rather than spending years doing so.
So while copy trading platforms in Italy are legal, to choose the best copy trading platform, consider the broker's reliability, copy trading features, and ease of usability.
FAQs
What is the best trading platform in Italy?
While RoboForex is among the best trading platforms in Italy, Tickmill and IC Markets are great options.
Can you trade stocks in Italy?
Yes. With any of the top Italian online stockbrokers, you can trade stocks from companies that are listed on the Italian Stock Exchange (Borsa Italiana).
Which exchange is best for copy trading?
eToro and RoboForex CopyFx are the best copy trading platforms based on user reviews.
Does Italy have good trade?
Italy has a great trading tradition, and there are top trading platforms to get started with Forex or stock trading.
Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
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).