Top 4 Copy Trading Platforms in Romania – A Comprehensive Guide

Stock and Forex trading has become popular in Romania. This type of trading requires one to have proper knowledge of where to place and exit trades and how to manage risk. Not many novice traders are able to do this, thus the need for copy trading platforms, which allow beginners to mock the trading strategies of seasoned traders.

There are several copy trading platforms in Romania, but not all are trustworthy. In this article, we have listed four leading platforms you can use to copy trades in Romania. Keep reading to learn more about them.

eToro

Being a multi-asset platform, eToro allows you to copy trades in various markets, making portfolio diversification possible. With only $200, you can start copying trades on eToro. The trading platform gives you access to a wide range of educational resources to help you understand how copy trading works. Also, its interface is user-friendly, so navigating the platform is easy, even for beginners.

RoboForex

Popular broker RoboForex offers a copy trading feature called CopyFX, allowing investors to subscribe to professional traders and follow their trading strategies. What’s more, even after copying a lead trader, you will still have total control over your investment, meaning you can stop copying trades whenever you wish. With as low as $100, you can begin mocking trades on RoboForex. However, it is worth mentioning that most of the top-performing signal providers charge high commissions.

AvaTrade

Another trusted trading platform providing copy trading services is AvaTrade. It is highly regulated to ensure that investors feel safe while replicating trades. AvaTrade collaborates with leading copy trading providers such as MQL5, ZuluTrade, and DupliTrade to give customers access to a vast pool of professional traders.

IC Markets

You will need a ZuluTrade account to use IC Markets’ copy trading service. ZuluTrade has more than 80,000 signal providers, so you have a wide range of options. Before you start copying trades, remember to activate the “ZuluGuard” feature in order to protect your capital. Like eToro, IC Markets requires users to deposit at least $200 for copy trading.

How to Select a Copy Trading Platform in Romania

As mentioned earlier, Romania hosts multiple copy trading platforms. This makes it challenging for investors to identify the right platform. In this section, we will take a look at the factors you need to consider when selecting a copy trading platform in Romania. These factors include:

• The platform’s regulatory status. Check if the broker is registered with relevant authorities before signing up.
• Availability of customer support. A good copy trading platform should have a responsive customer support team.
• Check the copy trading costs charged. Avoid any broker that imposes high costs because they may eat up all your profits.
• Find out the supported trading instruments. You want to copy trades on a broker that supports multiple asset classes so that you can diversify your portfolio.
• Check if the broker offers a demo account, which you can use to test its copy trading service.

Is Copy Trading in Romania Legal?

As long as you replicate the trades of a professional trader on a regulated copy trading platform, you will not face problems with Romanian financial authorities, which identify copy trading as a way of investing.

Do Copy Traders Pay Taxes in Romania?

Although traders do not pay a direct tax for mocking the trades of seasoned traders, the Romanian government has imposed a tax on earnings generated from crypto trades. That means if you copy a crypto trade and make a profit, your copy trading platform will deduct a tax of 10% as required by the government.

How Much Can You Earn From Copy Trading?

As a copy trader, your earnings depend on several factors, such as the amount of investment funds committed and the win rate of your signal provider. However, in most cases, if you copy a successful trader, you can make a profit of between 5% and 30% monthly.

Is Copy Trading in Romania Risky?

There is a risk of loss in any type of investment, and copy trading is not spared. So Invest responsibly.