Copy Trading Comparison: FP Markets or Exness?
Copy trading has become popular in the online trading world for an obvious reason: by replicating the trades of a successful trader, an inexperienced trader earns the same profits as the lead trader without having to learn how to trade.
Among the brokerage firms supporting copy trading are FP Markets and Exness. In this article, we will take a look at their key features to help you decide which of the two brokers is ideal for your copy trading journey. But first, let’s explore FP Markets and Exness.
Exness
With its headquarters in Cyprus, Exness is a CFD and forex broker. It started operations in 2008. Over the years, the brokerage firm has built a strong reputation, offering multiple trading instruments, including crypto, stocks, indices, metals, commodities, and forex. As one of the leading brokers, Exness is regulated by several top-tier regulators like FSCA, FCA, and CySEC. It boasts over 130,000 active traders worldwide.
FP Markets
Since 2005, FP Markets has been offering exceptional trading services in Australia. The brokerage firm lets users trade commodities, indices, stocks, and forex. To guarantee user safety, FP Markets has secured licenses from two leading financial regulators, CySEC and ASIC. The broker’s commitment to innovating its trading platform has made it a preferred choice for many traders.
Copy Trading Platforms
FP Markets and Exness have solid copy trading platforms, allowing users to learn and earn at the same time. The two platforms come with a vast pool of features, including automated trading, the ability to copy several traders simultaneously, and performance statistics.
Exness’ CopyTrade
Exness copy trading platform is known as CopyTrade. You can install it on your computer or mobile phone. With CopyTrade, you are able to take control of the opened trades as you can set the take profit and stop loss or even close losing trades manually. One thing that makes CopyTrade an outstanding copy trading platform is its chatroom, which allows copy traders and copied traders to interact.
FP Markets’ Myfxbook Autotrade
Myfxbook Autotrade gives you access to over 2,000 successful traders. You can use it on your mobile phone or desktop. Like CopyTrade, FP Markets’ copy trading platform comes with a chatroom. It also gives you control over opened trades.
Comparing Myfxbook Autotrade and CopyTrade
While the two copy trading platforms offer almost identical features, they have some differences, which include:
Interface
Although Myfxbook Autotrade and CopyTrade have user-friendly interfaces, the latter provides access to more crucial data than the former. For instance, CopyTrade allows you to examine the past performance of a lead trader before copying their trades. Myfxbook Autotrade, on the other hand, does not offer much information regarding traders’ past performances, thus hindering users from making informed trading decisions.
Number of Traders
Myfxbook Autotrade lists more successful traders than CopyTrade, thus providing users with a wide range of options to choose from. To make it easy for you to select your preffered lead trader, FP Markets’ copy trading platform allows you to filter these traders by performance, minimum investment, and risk levels.
Ease of Use
With CopyTrade, you can replicate the trades of a successful trader using a demo account, a feature not available on FP Markets.
All said, the two copy trading platforms are reliable. However, if you are just getting started and don’t want to risk your money immediately, try CopyTrade because it comes with a demo account.