Best Copy Trading Brokers in UAE

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The best copy trading brokers for United Arab Emirates-based traders are eToro, AvaTrade, and Pepperstone. In this guide, we will discuss these best copy trading brokers and explain to you what copy trading is and what its advantages are.

What is Copy Trading?

Copy trading is a form of trading where a trader automatically copies the trades of another trader. Every time the copied trader opens a position or trade, you automatically do the same on your trading account. Copy trading is also called social trading, mirror trading, and auto trading. Copy trading is a popular way of trading for beginner traders.

Best Social Copy Trading Brokers for UAE Traders

  • eToro – Best overall copy trading broker
  • AvaTrade – Best multi-platform copy trading broker
  • Pepperstone – Best DupliTrade copy trading broker

01. eToro: Best Overall Copy Trading Broker

etoro-rating

eToro is the best overall copy trading broker because it is user-friendly, has over 20 million traders to follow, and over 2,300 available assets to trade. eToro offers commission-less copy trading, a free demo account, and is a FRSA-regulated broker. It is the biggest copy trading platform worldwide and available to UAE traders.

Pros

  • Over 20 million traders to copy
  • FRSA regulated
  • Demo account available

Cons

  • Few advanced trading tools

Key features:

  • Sophisticated social-copy trading features
  • Multiple different payment options
  • Crypto exchange and brokerage services on the same dashboard
  • Super fast registration and KYC on-boarding process
  • Zero commission stock trading
  • Great ease of use level

02. AvaTrade: Best Multi-Platform Copy Trading Broker

avatrade-rating

AvaTrade is the best multi-platform copy trading broker because you can use their proprietary trading platforms, ZuluTrade, and DupliTrade. AvaTrade is regulated by the FSRA and the ADGM and offers commission-less copy trading, a copy trading app, and Islamic swap-free accounts for Muslim traders. You can familiarize yourself with AvaTrade with their free demo account.

Pros

  • Regulated by the ADGM and FSRA
  • Multiple trading platforms
  • Islamic and demo accounts available

Cons

  • Charges inactivity fees

Key features:

  • Access to 1250 CFDs and 44 forex options
  • Excellent copy trading features
  • Advanced mobile trading app (AvaOptions)
  • Industry average pricing
  • Perfect for casual and advanced traders
  • Access to the full meta trader suite

03. PepperStone: Best DupliTrade Copy Trading Broker

pepperstone-rating

Pepperstone is the best DupliTrade copy trading broker because you can use DupliTrade’s trading strategy marketplace to fully automate your trading with Pepperstone. You will receive trading signals to your Pepperstone MetaTrader 4 account in real-time. Pepperstone offers educational tools, courses and a free demo trading account for beginner traders.

Pros

  • Compatible with DupliTrade
  • Real-time signals
  • Beginner-friendly

Cons

  • Only CFD copy trading

Key features:

  • 600 + stocks as CFDs available
  • Great variety of trading platforms (MetaTrader + cTrader)
  • Multiple advance trading add-ons
  • Social trading features
  • Competitive pricing for active traders

History of Copy Trading

In the beginning, most copy trading brokers were third-party trading platforms and operated unregulated, but nowadays ZuluTrade, Tradency, and eToro are independent and regulated trading platforms. Copy trading is regulated in the United Arab Emirates because traders decide who to copy or follow, even if this happens automatically. eToro is now the most popular copy trading broker in the UAE. 

Copy Trading Brokers Trading Platform Compatibility

eToroAvaTradePepperstone
Own Trading PlatformYesYesNo
Desktop Trading PlatformNoYesYes
WebTraderYesYesYes
Social Trading PlatformYesYesYes
MetaTrader 4NoYesYes
MetaTrader 5NoYesYes
cTraderNoNoYes
DupliTradeNoYesYes
ZuluTradeNoYesNo

What is the Best Copy Trading Platform for UAE Traders

eToro is the best copy trading platform for United Arab Emirates-based traders. Although eToro isn’t compatible with DupliTrade, ZuluTrade, or Myfxbook, it is the best social copy trading and cryptocurrency trading platform because it is user-friendly, has a mobile app, and you can copy over 20 million traders from across the globe.

Is Copy Trading Legal for UAE Traders?

Yes, copy trading is legal for UAE traders and in most other countries as long as the broker you are trading with is regulated. Brokers like AvaTrade and eToro are regulated by the Abu Dhabi Global Markets (ADGM) and Financial Regulatory Services Authority (FSRA). Before copy trading was legal, you needed to authorize a personal fund manager to trade for you. 

How Does Copy Trading Work?

With copy trading, traders copy other traders’ buying and selling positions in real-time. This happens on auto-pilot when you select a certain trader to copy. You only need to choose which trader to copy and how much to invest in copying their positions.

How to Choose the Best Traders to Copy?

You choose the best traders to copy by looking at their amount of followers, performance track record, and the risk that they are taking. The best traders have the most followers and trade profitable for a long time. You can choose to copy one or multiple traders. 

How to Choose the Best Trading System to Copy?

You choose the best trading system to copy by finding a trading system that fits your trading style and risk appetite. If you don’t like to take risks, you copy a system that takes small risks and small profits. If you like to take big risks to profit fast, you copy a system that trades more aggressively. Copy trading brokers like eToro have millions of traders and systems to copy. You have more than enough choice in which trader(s) to copy. 

Is it Smart to Copy Trade?

That depends on your trading strategy, risk appetite, and investment goals. Although automated trading gives you more time to do other things, it still requires active account management. You have to copy the right traders and invest the right amount of money in them to be a profitable copy trader. Good copy trading brokers like eToro offer you risk management tools. 

How to Copy Trade?

You copy trade by signing up at a copy trading platform, verifying and funding your account, choosing a trader to copy, and specifying an amount to invest in the trader. You can choose to start copying a trader’s new trades or copy all existing ones. It is important to look at performance metrics like the amount of risk taken (max. drawdown), average trade size, position lifespan, and trade frequency. 

Is Copy Trading Profitable?

Whether copy trading is profitable depends on how successful you are in copying the right traders and systems. You need to apply the right risk management to be profitable with copy trading. Following profitable traders or systems doesn’t guarantee profits because their performance can change. We recommend doing your due diligence before copying a trader or system.

Our Verdict on Copy Trading

It is important that you know how copy trading works before starting with it. Copy trading can be profitable, but only if you apply the right risk management and copy the right traders and systems. It is easy to get started with copy trading as UAE trader with the brokers mentioned in this guide. We recommend copy trading with eToro. 


Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of the best forex brokers. Trading platform, fees, mobile trading, payments, assets, regulation,
education and research are all part of our six-month evaluation of a broker’s account.The rating scale was based on thousands of data points that have been weighted into the scoring system. Brokerages were required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online brokers we reviewed. Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

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