Best Copy Trading Platforms in Belgium – Top Picks for 2024

Most people find online trading to be complex. That’s because they need to learn the fundamentals of trading, develop a strategy, and test it out using a demo account. This can be time-consuming. But what if I told you that you do not have to go through all this? Thanks to copy trading platforms, beginner traders don’t need to be skillful to make money from the financial markets.

Are you in Belgium? Stick around! We will discuss the leading apps in this European country you can consider for copy trading. Note that these copy trading platforms are offered by brokerage firms, so you will have to register and verify your brokerage account to get started.

eToro’s Copy Trader

eToro has been in business since 2006. It began to offer its copy trading service, dubbed Copy Trader, in late 2010. Unlike most copy trading platforms, Copy Trader provides access to CopyPortfolio, a feature that groups top-performing assets from various asset classes, thus allowing users to copy diversified portfolios.

What makes Copy Trader ideal for Belgium traders is eToro’s compliance with the regulations. The broker is licensed by several leading regulators like the United Kingdom Financial Conduct Authority. That said, your funds are protected while copy trading on eToro’s Copy Trader platform.

RoboForex

RoboForex, a brokerage firm with a presence in over 60 countries, including Belgium, offers CopyFX, an easy-to-use copy trading platform. You need little to zero trading experience to use CopyFX. You only have to subscribe to a strategy provider and let them generate money for you.

RoboForex gives strategy providers access to excellent trading tools that enable them to analyze the financial markets more accurately. Also, copy traders can access essential information about these providers before subscribing to any.

Tickmill

Most professional traders choose Tickmill due to its wide range of analytical instruments. The broker currently hosts more than 400 lead traders on its copy trading platform. While most copied traders have impressive track records, Tickmill is only a good choice for copy traders who are willing to risk at least $1,000.

Regarding Tickmill’s adherence to regulations, the broker has obtained permits from top financial watchdogs in several countries, making it a secure platform for copy trading in Belgium.

IC Markets

As of April 2024, IC Markets doesn’t have its own copy trading platform. However, it gives its users access to one of the largest social trading platforms, ZuluTrade, which has over 85,500 strategy providers. The good thing about copy trading on IC Markets using ZuluTrade is that you have access to ZuluGuard, a feature that prevents you from losing all your account balance when your strategy provider opens losing positions.

AvaTrade

AvaTrade is the brokerage firm behind the popular copy trading platform AvaSocial. You need to be a verified AvaTrade user to access AvaSocial, which comes as both a web app and a mobile app. Once you access the copy trading app, you will be able to replicate trades of traders from MQL5, ZuluTrade, and DupliTrade.

How to Pick the Right Copy Trading Platform in Belgium

It is not advisable to select a copy trading platform randomly. Instead, consider these factors.

1. Check the broker’s reputation. Ensure it adheres to the stipulated regulations.

2. Investigate the trading terms of each broker. Find out about the spreads, supported financial instruments, and commissions.

3. Examine the broker’s copy trading network. You want to sign up with a broker that hosts multiple strategy providers to have a wide range of options.

4. Check the risk management tools employed by the broker to ensure copy traders don’t lose their funds.

5. Find out if the broker offers demo accounts. You don’t want to risk your hard-earned money immediately. You need to test out the features of the copy trading platform with virtual funds.

6. Evaluate the broker’s customer support. A good broker should ensure users access its customer support team 24/7.

Is Copying Trades in Belgium Legal?

Yes! Belgian authorities do not restrict citizens from participating in copy trading. However, you must copy trades on a licensed broker.