The best copy trading platforms in Romania - eToro (Copy Trader)
Top copy trading platforms in Romania:
eToro (Copy Trader) - overall best for social and copy trading
RoboForex (CopyFx) - best copy trading platform for inexperienced and professional traders
AvaTrade (AvaSocial) - best copy trading app for novice traders
IC Markets - provides traders with 3 supported social trading networks with extra low fees
While Forex and stock trading are among the most popular types of trading in Romania, more features are being integrated to make them more friendly. Before now, you must have ample knowledge of the trading industry and integrate top trading and risk management strategies to profit from Forex trading. This has repelled many beginner investors from trading, but with the copy trading platforms in Romania, Forex copy trading is now accessible to all traders.
With trading made easy with the emergence of copy trading systems, the task remaining for potential traders is finding the best copy trading app in Romania. And that is precisely what this article will assist traders with, especially novice traders who can greatly benefit from copy trading features. Read on to discover five top copy trading platforms in Romania.
Is copy trading safe?
While copy trading allows you to replicate the trades of experienced investors, it still carries risks as no trader is right 100% of the time.
What are the costs of copy trading?
Most brokers don't charge direct fees for copy trading but will pass on any spreads, commissions or brokerage fees from duplicated trades.
How much can I expect to earn through copy trading?
Successful traders may average returns anywhere from 5-30% annually, but there are no guarantees. Returns will depend on the specific trader, market conditions, and your allocation amounts among different traders.
Can I copy trade with a small account?
Most brokers require a minimum deposit ranging from $100-500 to open a live copy trading account. However, some top traders may have much higher allocation minimums.
The best way to begin your quest to discover the top copy trading platforms in Romania is to group them in a place where you can easily identify the features of each app with a single glance. The table below provides a summary of the top copy trading platforms in Romania. You will find their minimum deposit requirements and markets, followed by a proper review of these copy trading apps in Romania.
Minimum Deposit |
Markets |
||
|---|---|---|---|
eToro (Copy Trader) |
$200 |
US Stocks, Forex, Crypto, ETFs |
|
RoboForex (CopyFx) |
$100 |
Over 12.000 assets Forex, stocks, ETFs, crypto |
|
AvaTrade (AvaSocial) |
$100 |
Crypto, Forex, Stocks, ETF, Bonds, commodities, and CFDs |
|
IC Markets |
$200 |
Forex, CFDs, commodities, Crypto, Stocks, Bonds |
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'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 Romania.
👍 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
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
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
Forex trading in Romania is subject to strict oversight and regulation by two key authorities: the Romanian Financial Supervisory Authority (ASF) and the National Bank of Romania (BNR). These regulatory bodies play crucial roles in ensuring the stability, integrity, and transparency of the Forex market in Romania. By enforcing regulatory standards, conducting regular inspections, and imposing sanctions for non-compliance, the ASF and BNR strive to create a safe and fair trading environment for investors.
The ASF regulations in Romania are specifically designed to safeguard the interests of investors participating in Forex trading activities. Through measures aimed at promoting transparency, accountability, and ethical conduct, the ASF seeks to prevent market manipulation, fraud, and other abusive practices. By fostering a culture of investor protection, the ASF aims to enhance confidence in the Forex market and encourage sustainable growth in the financial sector.
Profits derived from Forex trading activities in Romania are subject to capital gains tax. The applicable tax rates range from 10% to 16%, depending on the level of profit earned by the trader. It is essential for Forex traders in Romania to comply with tax regulations and accurately report their trading income to the relevant authorities. By fulfilling their tax obligations, traders can avoid penalties and legal consequences while contributing to the country's tax revenue.
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.
With many copy trading apps in Romania, traders might become overwhelmed when they attempt to identify the best broker integrating copy trading systems. However, a trader who knows what to expect or consider when seeking the best copy trading platform in Romania will have no trouble finding a premier trading app. This necessitates assessing the brokers' performance and the services they offer.
Before registering with a copy trading platform in Romania, potential traders should consider the following factors:
Check if the broker accepts Romanian residents
Next, research the broker's reliability and regulatory status
Check the broker trading terms, conditions, instruments, and types of accounts (demo accounts) available
Consider the trading histories, approaches, and if the broker offers users mobile versions of its application
Recognize and contrast the costs incurred by various brokers, including any commissions, spreads, or subscription costs related to copy trading
Research the copy trading network size
Verify if customer support is available 24/7
Yes. Traders will not encounter any problems with the financial authorities for copying trades of other traders since copy trading is legal in Romania. The Romanian regulatory bodies recognize copy trading as a legal way to invest, which makes it a safe and popular strategy among day Romanian traders. However, it is recommended that traders only use the copy trading platforms of regulated brokers.
Copy trading in Romania helps traders gain exposure to opportunities and trends and also profit from trades without much stress. While it is safe to use the copy trading platforms integrated by top brokers, it is important to remember that copy trading carries certain risks.
While traders might not be paying a direct tax for copying the trades of skilled traders, any earnings derived from resulting crypto trades are subject to tax in Romania. This suggests that any cryptocurrency profits made in Romania will be subject to income tax, which is required to pay for trading stocks and currency pairs. As a result, traders who use copied trading strategies on their accounts will pay a 10% tax rate.
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.
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.
Forex copy trading is risky, so traders must exercise caution when emulating other traders' trading methods. Two significant risks related to Forex copy trading are market and liquidity risks.
No trader is immune to failing or losing trades, so you could potentially lose trades if the strategies conflict with the market. This explains why users of copy trading platforms are advised to research a trader thoroughly before copying their trades.
Trading success cannot be guaranteed when you copy the trades of even the best Forex trader, whose profile shows a 97 percent trading success rate. Creating a portfolio with multiple managers and a maximum drawdown cap helps reduce the risks associated with copying trading.
Copy trading in Romania has lifted traders from the long wait of learning and practicing Forex trading on demo accounts before they can earn from trading currency pairs or stocks. If you can find the best copy trading platforms in Romania, finding the best trader to copy trading strategies from will be simpler.
After confirming that the broker offers social and copy trading services, you should look into the broker's policies and licenses and find out how long the broker has been in business if you are a beginner. Look at the broker's trading terms, minimum spreads, trading tools, and trading instruments, then determine whether the broker is keen on offering helpful customer support. Create an account, get ready to access each expert trader in the copy trading section, and then start copying their trades.
You run the risk of copying the trades of inexperienced traders with ineffective trading skills if you do not take any precautions.
Finding the best of these traders requires work and skill, and it is up to the trader to know which traders to copy. Selecting a trader with a winning streak that has lasted longer than three years may be advantageous. They have sizable followers and post-stellar trading performance.
Finding the best trader to copy on eToro is straightforward. You need to sign up with the broker to get access to the services available at this brokerage.
Here, you can find your match by selecting the risk level, expected timeframe, and assets you want the investor's portfolio to include.
Note:
The past performance of a trader does not guarantee future trade success or failure. The trading industry changes constantly, which means traders can win more depending on their flexibility and ability to create strategies that integrate with the market at all times. But you can use the past performance of a trader to know their expert level.
Copy trading platforms in Romania are great options recommended for inexperienced traders. Beginner traders do not have to worry about the complexities surrounding learning how to trade stock or Forex pairs in Romania. Copy trading lets investors diversify their portfolios by allowing them to invest money automatically without being familiar with the markets directly.
Using copy and social trading platforms like eToro and others, investors have the opportunity to pick up trading strategies from more experienced and knowledgeable traders. Due to process automation and trade customization, time is saved. The disadvantage of copy trading is that profits are not guaranteed, and traders are unable to influence trading decisions.
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).
