Best Copy Trading Software For Singapore

Pepperstone is our top broker for copy trading tools, with many choices like Myfxbook, DupliTrade, and MetaTrader Signals. What’s great is how these tools pair with Pepperstone’s low spreads – averaging just 1.12 pips on EUR/USD with a standard account.

Even better, with the RAW Account, it drops to an average of 0.1 pips, plus a small $3.50 commission. This means more efficient trades, maximising your copy trading experience while lowering costs.

After testing multiple brokers, we found that Pepperstone offered the overall best copy trading experience through MetaTrader 4 Signals, which allows you to find and mirror experienced traders on the MT4 Platform.

You can find a signal provider on the desktop platform through the ‘Signals’ tab to access the signals. However, we found it difficult to filter the Signal Providers. Instead, we used the MetaQuotes Marketplace to find potential traders to mirror, which also has a filter tool to help narrow down our selection from over 5000+ signal providers.

What stood out for us was the advanced analytics for each signal provider, offering real-time performance and risk stats that we could use to evaluate each trader before mirroring. These stats include recent trade history, frequency of trades, avg. profit per trade, and avg. drawdown for each trade.

For example, choosing a trader with a low drawdown metric is important to ensure the trader keeps losses to a minimum; it’s usually a solid indicator of an accurate trader.

Linking the Signal Provider to your MetaTrader platform is a breeze. Simply log in to your MT4 (or MT5) account, select the ‘Copy’ option, and follow the straightforward instructions to begin copy trading.

To take advantage of the MT4 signals, we used Pepperstone’s Razor MetaTrader 4 Account, which offers tighter spreads and a small commission of $3.50 per lot. We chose this account over the no-commission Standard account because we think the tighter spreads would improve our overall copy trading profitability compared with the Standard account.

We asked our analyst, Ross Collins, to test the Razor account’s spreads to find the average and compare the costs to 40 other brokers. Interestingly, due to Pepperstone offering major currency pairs from 0.0 pips, Ross found that the broker offered the zero-pip spread 100% of the time during normal trading hours.

This result is impressive, as it effectively means you’d be paying only the fixed commission fee and 0.0 pip spreads on the major pairs, lowering your trading costs.

We also tested Pepperstone’s execution speed and found the broker exceptionally fast, with limit order speeds of 77ms and market order speeds of 100ms, ideal for copy trading. The faster the execution speed, the more likely you are to mirror the signal provider’s entry and exit instructions without price slippage, potentially improving your trading costs.

View Pepperstone ReviewVisit Pepperstone

We like eToro for its top-notch copy trading platform, which is ideal if you are a beginner with no experience trading. It’s user-friendly, allowing you to find and follow traders based on their performance and style.

The broker has a range of markets you can select, so you can quickly diversify across markets, from forex to indices, and choose traders for specific assets.

Plus, the spreads are quite appealing, averaging just one pip on EUR/USD, which is lower than the industry average.

eToro mainly focuses on social and copy trading, pioneering the technology since 2007 while making it affordable and accessible to beginner traders.

While using the CopyTrader platform, we found it to be the easiest to use by giving you recommended categories to choose from, highlighting the best copy traders currently, or using the simple search feature, which allows you to filter out traders based on your specific criteria.

Emphasising the platform’s simplicity, we liked that the filter tool wasn’t overwhelming with multiple choices, as we have seen from other copy trading platforms like MyFXBook. Instead, you have 14 choices, allowing you to filter by risk, profitability, capital under management, and the number of followers a copy trader has.

When using copy trading tools, we like to narrow our choices by followers and capital under management when possible, giving you social proof that the trader is a solid choice.

From our search, we narrowed our choices from 2,000,000 potential traders to copy to just 34. The benefit is that we can go through 15 traders knowing they meet our basic criteria, making it easier to verify the trader.

A nice highlight is that you can leave messages on the copy trader’s profile to interact with them directly or discuss the markets with other followers. You could even use this as an opportunity to learn more about the trader’s strategy before investing.

As you invest in each trader, we liked that you could filter based on the markets they trade. Thus, you can build a portfolio of experienced traders specialising in markets like forex, indices, gold, and shares.

With eToro owning the CopyTrader platform, we liked that no subscription or platform fees are associated with mirroring a trader. Instead, you open a Standard account and pay the market spreads each time you copy a trade. The account is spread-only, so there are no commissions on any of the assets, including the share markets, which is rare to see from a broker.

In our tests, eToro had surprisingly low spreads in the currency markets, averaging one pip in EUR/USD, below the industry average of 1.24. You’ll get good value from the low trading costs and access to the largest copy trading community on eToro.

AvaTrade stands out for its fixed spreads with copy trading, and we like that the broker has access to DupliTrade. The broker’s fixed spreads start at just 0.9 pips on EUR/USD – significantly lower than the average you might see elsewhere.

What we like about DupliTrade is how you copy strategies (not traders like eToro), offering a clearer view of each strategy’s track record. This approach provides a more structured and transparent way to enhance your trading, making it a smart choice for copy trading.

DupliTrade offers over 13 different strategy providers, each with a verified track record and trading history, helping you do your due diligence.

What we like about DupliTrade is that they don’t allow anyone to set up as a strategy provider like other copy traders do. We found that they are evaluated over a long period based on their performance before being allowed to offer the strategy to the public.

This evaluation explains why there are only 13 strategy providers, but the quality is far superior to having a wider choice of copy traders. It also means that DupliTrade understands and knows each strategy. So, one benefit of this is that the strategy can’t go outside of its parameters by trading different assets or chasing losses like other copy traders are known to do when suffering losses.

By doing this, we think DupliTrade offers a professional way of copy trading compared to other platforms that give traders more freedom to trade outside their comfort zones.

From our testing, you can only access DupliTrade from their website, showing you all of the strategy providers’ performances and allowing you to invest your money in them. To mirror the trades, you can use MetaTrader 4 or MT5, which you link to your DupliTrade account, although all of your trade management and deploying capital will be on the DupliTrade web platform.

When investing in a strategy provider, we didn’t like that you could only invest a specific amount of money, which is different for each provider. We prefer it when we can set how much we want to invest. Instead, we found that some providers required a minimum of $88, and others required up to $4,386. These minimum investments essentially block you from investing in all strategy providers.

We noticed that each strategy only focused on currency markets, which is ideal considering AvaTrade has fixed spreads. Having fixed spreads can help average your trading costs, especially when following DupliTrade’s strategies, which may be executed during volatile trading periods.

Our tests found AvaTrade had the best fixed spreads available, at just 0.9 pips on EUR/USD and 1.0 pip on USD/JPY. When we compared these spreads with the variable spreads, they beat the industry average of 1.24 and 1.44 pips, respectively, making them a low-cost alternative for those who want fixed trading costs.

MyFXbook is offered by FP Markets and is a standout choice for crypto copy trading with its unique feature of offering verified results exclusively from live accounts. This means you’re not following strategies based on demo account performances, which can be misleading.

Instead, you copy trades backed by real experience and actual market conditions. It’s a more reliable and transparent way to trade crypto, ensuring you follow proven strategies.

FP Markets have 12 crypto pairs vs USD that you can trade with.

MyFXBook is a web-based platform you can access on any device to find traders to copy the crypto markets. Based on our experience, you can only copy from a choice of 600+ systems, which is tiny compared to other copy trading platforms such as eToro’s 2,000,000.

To access the copy traders, you can choose from the category list, such as ‘Most Popular’ and ‘Most Followed Systems’, which helps identify proven strategies backed by other investors. Choosing from the category list is the fastest way to copy trade, or you can use the basic filter to find a system that matches your criteria, such as profitability, drawdown, and system age.

Interestingly, we found that most of the systems you can follow are largely run by Expert Advisors; however, you can also filter to find traders with an automated, manual, or mixed trading style. We can also see if these systems are trading with a ‘Live’ account or a ‘Demo’ account. Fortunately, MyFXBook only allows ‘Live’ accounts on the platform, so you know the trader is using their funds.

A particular filter we liked was the ‘Broker’ selection, which returned systems using your broker, allowing you to match up with the copy trader exactly. Using the same broker allows for the same trading costs and execution speeds, giving you the best chance of following each trade. This filter is something we haven’t seen with other copy trading platforms.

When you choose the system you wish to copy, you must open a SignalStart account, which also requires a monthly subscription. They execute all the trades 24/5, saving you money on owning a VPS or having your computer running all day.

One advantage of choosing FP Markets is that it is an ECN-style broker that offers fast execution speeds on the MetaTrader 4 platform. Our analyst, Ross Collins, tested the execution speed of 20 brokers and found that FP Markets offered an average of 96ms for market order execution speed, which was the fourth fastest overall.

Having fast market order execution speed is important as it allows you to mirror your MyFXbook trades with little lag and potentially avoid any slippage between the copy trade and your execution.

The spreads from FP Markets are also decent. In our spread tests, we found the broker averaged 0.1 pips on EUR/USD with its Raw account, better than the industry average of 0.22 pips. FP Markets also allows you to copy popular cryptocurrencies through MyFXBook and trade 11 crypto markets, including Bitcoin and Ethereum.

MetaTrader 4 is the largest trading community so it follows there is no shortage of signal providers you can follow and copy in the MetaTrader Signals Network.

Eightcap offers both MetaTrader 4 and MetaTrader 5 and both allow you to take advantage of the MetaTrader Signals network. We like that you can copy trade all Eightcap products including 95 Crypto pairs and 56 Forex pairs.

With Eightcap, you can access MetaTrader Signals on MT5, allowing you to follow signal providers focusing on forex or the crypto markets.

You can find MetaTrader Signal providers on the web platform, where 2,300 are available to copy on the MT5, which is 50% less than the MT4 signal providers. Eightcap allows you to use MT4 or MT5 signal providers, depending on your chosen platform, which is nice.

When we tested the platform to find our signal provider, we liked that it had pre-set filters based on reliability, popularity among subscribers, or high ratings. These options made it easy to narrow the wide choice of providers based on their performances.

Should you want to be more specific, the filter tool will help you find a trading system based on searchable criteria such as max drawdown, trading activity, and the initial deposit required to copy the signal provider. This tool allows you to filter the criteria based on your needs, narrowing your search significantly.

We also liked the advanced trading analytics that MetaTrader Signal offers. These analytics include a range of performance stats to help you vet the trader in more detail and discover whether the trader’s risk or trading profile is suitable for mirroring their trades.

Based on our broker analysis, Eightcap had 95 crypto markets, and most of the brokers we’ve reviewed placed it in a prime position if you want to copy crypto traders. In addition to cryptocurrencies, the broker offers 56 forex pairs, 586 share CFDs, 16 indices, and 24 commodities, making it a well-rounded multi-asset broker for copy trading.