Top 5 Cryptocurrency Platforms for Futures Copy Trading: Best Picks for 2024
As a beginner, understanding the copy trading concept is vital to navigating the crypto market successfully. In this article, we will explore some of the leading crypto platforms that allow you to copy trades in the futures markets. Read on to learn more.
OKX
OKX is undoubtedly one of the top copy trading platforms for crypto futures due to its massive selection of tradable assets. As of June 2024, there are over 350 crypto trading pairs available for copy trading. What’s more, OKX’s copy trading platform hosts more than 8,500 lead traders that employ various trading strategies, giving copy traders a wide range of options to choose from.
OKX has expanded its presence in recent years. It’s now available in 103 countries and serves over ten million customers.
Although the OKX copy trading system is automated, the centralized exchange has developed a chatroom that allows lead traders to share trading signals with copy traders who wish to replicate trades manually.
Pros and Cons of OKX
Pros
- The exchange has several trading pairs.
- Hosts a huge number of lead traders.
- It boasts high liquidity.
Cons
- OKX’s user interface can be complex for newbies to navigate.
- The exchange is not available in the United States.
Margex
Many crypto traders opt for Margex due to its relatively low trading costs. Moreover, the exchange’s minimum copy trading requirement ($10) makes it attractive to traders who do not want to risk much.
With over 600,000 users, Margex is available in nearly 180 countries. Its beginner-friendly interface makes it easy for new users to copy trades in the futures markets.
Pros and Cons of Margex
Pros
- The exchange offers customer support in multiple languages.
- Users enjoy leverage of up to 120x.
- Its easy-to-understand interface and low minimum copy trading requirement make it ideal for beginners.
Cons
- Margex has limited trading pairs (39).
- It does not operate in the United States.
Bybit
Known for its deep liquidity, Bybit is considered the best cryptocurrency exchange for copy trading in the futures market. What’s more, there are nearly 550 trading pairs to choose from. Bybit’s emphasis on security has been one of the key factors fueling traffic to the exchange.
Moreover, the platform’s ability to handle thousands of transactions within seconds allows copied trades to be executed without delays. As of June 2024, Bybit operates in all European Union nations and 107 other countries.
The Dubai-based exchange is ideal for beginners, given its user-friendly interface that facilitates easy navigation.
Pros and Cons of Bybit
Pros
- Bybit adopts stringent security measures to protect user funds and data.
- It executes copied trades quickly.
- There are multiple trading pairs available for copy trading.
Cons
- Some customers complain about Bybit’s customer support being inefficient.
Bitget
Experienced crypto traders will find Bitget perfect for copy trading futures, considering the exchange’s advanced charting tools. To ensure it provides a secure trading platform for users, Bitget implements several security measures and has obtained licenses in numerous countries, including Italy, Australia, Lithuania, and Canada.
Among the features that give Bitget a competitive edge is the wide range of crypto trading pairs (691). What’s more, users can copy trades with a leverage of up to 25x using an investment capital of as little as $2. Bitget currently operates in 185 countries.
Pros and Cons of Bitget
Pros
- Bitget fee structure is competitive.
- The exchange implements robust security protocols.
- It supported multiple crypto trading pairs.
Cons
- Beginners may find Bitget’s interface complex to navigate.
- The exchange supports only a few fiat currencies.
Binance
With the Binance copy trading feature, you can replicate trades using virtual money. So, you do not have to risk your hard-earned while trying out the strategies of various lead traders. Being the biggest exchange by trading volume, Binance ensures copied trades are processed quickly and at a low cost.
The exchange offers over 400 trading pairs in the futures markets. Moreover, the minimum copy trading ($1) is attractive to low-risk traders.
Pros and Cons of Binance
Pros
- Binance boasts high liquidity.
- It offers copy trading at cheap fees.
Cons
- The exchange’s customer support is slow.