Best Copy Trading Platforms in Norway – Top Picks for 2024
Norway has recorded a growing number of traders over the last five years. With increased interest in online trading, several brokerage firms have entered the Norwegian market, aiming to meet the massive demand.
Notably, most of these firms offer copy trading services that allow beginners to become profitable by replicating the strategies of skilled traders. Are you in Norway and looking to copy trades of professional traders? Stick around! In this article, we will explore some of the top copy trading platforms you can use.
Bybit
This is a well-known cryptocurrency exchange that is headquartered in Dubai. It was launched in late 2018. While Bybit is popular for offering derivatives trading, it also supports copy trading, letting newbies mock the trades of seasoned crypto traders. Traders on this exchange enjoy leverage of up to 300x. What’s more, traders can copy-trade some of the most popular trading pairs, including BTC/USDT, SOL/USDT, and ETH/USDT.
Advantages and Disadvantages of Bybit
Advantages
- The exchange has a simple user interface that allows easy navigation.
- It integrates with TradingView, allowing users to access a wide range of analytical tools.
- Bybit boasts deep liquidity, which makes it easy for traders to execute trades.
- The amount required for copy trading is low ($5).
Disadvantages
- Futures markets can be challenging for traditional copy traders.
- Withdrawals are only in crypto.
eToro
Established in 2007, eToro is a leading broker with a presence in more than 130 countries. The company is regulatory compliant. It is regulated by numerous top-tier financial watchdogs, including the United Kingdom Financial Conduct Authority and the Cyprus Securities and Exchange Commission.
As an eToro user in Norway, you will copy trades in various markets such as crypto, stocks, and commodities.
Advantages and Disadvantages of eToro
Advantages
- eToro gives copy trades access to multiple markets.
- The broker requires users to deposit as low as $20 to copy trades.
- Enjoy zero-fee copy trading on select stocks.
- eToro offers educational materials to help users learn about online trading before copying the trades of experienced traders.
Disadvantages
- eToro lacks live chat to offer quick customer support.
Tickmill
Tickmill has put emphasis on innovation. The broker continues to update its trading platform to ensure it has modern features that improve the trading experience for users. Its efforts to make trading enjoyable haven’t gone unnoticed. Tickmill won the “Best Forex Trading Experience” award in 2022.
Several regulators oversee Tickmill’s operations. Some of them include the Seychelles Financial Services Authority, the UK Financial Conduct Authority, and the Cyprus Securities and Exchange Commission.
Advantages and Disadvatages of Tickmill
Advantages
- Tickmill offers copy trading at low fees.
- It has a negative balance protection.
- The broker has a mobile app that allows Norway users to copy trades anytime, anywhere.
Disadvantages
- Tickmill gives users access to a limited number of currency pairs to copy trade.
- Its customer support is only available for five days per week.
InstaForex
Like eToro, InstaForex started its operations in 2007. Since its launch, the broker has attracted over 7.5 million traders from 143 countries. InstaForex gives access to more than 2,000 tradable instruments from various financial markets.
Furthermore, lead traders enjoy access to modern analytical tools that simplify their market analysis.
Advantages and Disadvatages of InstaForex
Advantages
- InstaForex allows you to diversify your investment fund by giving you access to several markets.
- The broker lets you start copy trading with as low as $5.
- Your copy trading account is insured as long as its balance is below €20,000.
Disadvantages
- The broker does not display enough information about strategy providers.
IronFX
With IronFX, you can copy trades in six various asset classes. The minimum deposit required is $10. Besides Norway, IronFX is available in 178 other countries. The broker is known for providing traders with access to a cutting-edge trading platform that comes with the necessary analytical tools.
Advantages and Disadvantages of IronFx
Advantages
- Customer support is available 24/7.
Disadvantages
- IronFX’s verification procedure isn’t seamless.