5 Best Copy Trading Platforms in Brazil
Copy trading platforms have become popular among novice traders who wish to mock the trading strategies of qualified Forex, stock, and crypto traders. Brazil is one of the many countries that allow such platforms to operate. Are you in Brazil? Here are the five reliable platforms you can use to copy trades.
RoboForex
On this broker, over 10,000 financial instruments are available for copy trading. Given its simple user interface, RoboForex is ideal for beginners.
You don’t have to copy all the trades opened by your lead trader. You can set some trading parameters that only allow you to copy specific trades. So, what is the required copy trading amount? RoboForex lets you replicate trades with only $10.
Is RoboForex Regulated?
RoboForex holds a license from Belize’s top financial regulator, IFSC.
Copy Trading Features
To find top traders, go to the “Traders Rating” tab. Use the search filter to discover your ideal trader. You can search a trader by risk level, number of trading days, and profitability.
Tickmill
Tickmill is one of the fastest-growing Forex brokers in the world, offering top-notch trading tools to help traders analyze the market correctly. The trading platform recently introduced a copy trading service after partnering with social trading provider MyFxBook. That means you need to create accounts with both platforms to begin copying trades.
As of January 2024, Tickmill has set the minimum copy trading amount at $1,000, significantly higher than most of its competitors.
Is Tickmill Regulated?
The broker holds licenses from the UK’s FCA, South Africa’s FSCA, and Cyprus’s CySEC.
Copy Trading Features
After creating and linking your Tickmill and MyFxbook accounts, you will be able to select your ideal trader based on aspects like profitability, maximum drawdown, and customer reviews.
AvaTrade
AvaTrade is a well-known broker, offering thousands of financial instruments from various asset classes like Forex, bonds, stocks, crypto, and indices. Its partnership with social trading providers like ZuluTrade and DupliTrade allows users to access thousands of strategy providers for as little as $100.
Is AvaTrade Regulated?
Yes! AvaTrade has secured licenses from six regulators, including Japan’s FSA, South Africa’s FSCA, the British Virgin Islands Financial Commission, ASIC, and the Central Bank of Ireland.
Copy Trading Features
After opening an account with ZuluTrade or DupliTrade, you can explore the many signal providers listed on each platform and choose whoever you want, depending on your investment goals and risk tolerance. Note that you can stop replicating trades of the strategy provider at any time.
IC Markets
Many traders choose IC Markets due to the low trading fees it charges. The broker offers its copy trading service via ZuluTrade and MyFxBook. To begin mocking the strategies of seasoned traders, you need at least $200.
Is IC Markets Regulated?
It is safe to copy trades on IC Markets, considering that the platform is regulated by the top Australian financial regulator AFSL and Cyprus’ CySEC. Moreover, its social trading partner, ZuluTade, holds a couple of licenses from leading regulators.
Copy Trading Features
As an IC Markets customer, use ZuluTrade to copy trades. When picking your ideal trader, consider factors like the number of copiers, return on investment, amount under management, and maximum drawdown.
Pepperstone
Leading brokerage firm Pepperstone offers its users access to several successful traders through platforms like DupliTrade and MQL5. But the access isn’t cheap. You need at least $1,000 to start mocking trades of proficient traders.
Is Pepperstone Regulated?
The broker has operating permits from respected financial regulators like the UK’s FCA, Austrialia’s ASIC, Germany’s BaFin, and Cyprus’ CySEC.
Copy Trading Features
You need to connect your Pepperstone account with DupliTrade or MQL5 before you start copying trades. The search filters for discovering your ideal trade include Gains, maximum drawdown, and most followed.
Conclusion
Brazil has one of the most developed financial markets in Latin America. This explains why it has several trading platforms that offer a wide range of services, including copy trading. That said, always check that a trading platform is regulated before signing up to copy trades.