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Alison Heyerdahl
Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

Learn more about Alison Heyerdahl
Author
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

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Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

Advertiser Disclosure

FxScouts helps traders across the globe by meticulously testing and reviewing online brokers and providing Forex education and market analysis. Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content. Our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. For more detailed information click this link.

Best Copy Trading Brokers in the Philippines for 2025

Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content

Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.

Learn more about Alison Heyerdahl
Chris Cammack
Author
Chris Cammack
Partner Manager and Financial Writer

Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.

Learn more about Chris Cammack

The advent of social networks over the past two decades has revolutionised the online trading world, with social and copy trading becoming increasingly popular. Both approaches have democratised trading, providing beginners an opportunity to learn from experienced traders by mirroring their trades and studying their strategies. In this in-depth guide, we will explain how copy trading works, distinguish between social and copy trading, provide a detailed process of selecting a trader to follow, give a step-by-step guide on starting your copy trading journey, and address frequently asked questions for beginners.

Trusted. Transparent. Tested.

For over a decade, we’ve set the standard in forex broker reviews—collecting thousands of data points yearly to deliver unbiased, expert-backed insights.

Skip the trial and error! Below, you’ll find the best forex brokers in the Philippines for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence.

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Best Copy Trading Brokers in the Philippines for 2025

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Official Site
Copy Trading
Trading Central
Trading View
Regulators
Platforms
Compare
Visit Broker
75.3% of retail CFD accounts lose money
Yes
USD 0
30:1
No
Yes
FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services Authority
Bundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets Authority
MT4, MT5, cTrader, TradingView, Pepperstone Platform
Visit Broker
71.67% of retail CFD accounts lose money
Yes
USD 3
0:1
Yes
Yes
FSCA Regulated Forex BrokersThe Seychelles Financial Services AuthorityCapital Markets AuthorityBritish Virgin Islands Financial Services Commission
Financial Services CommissionJordan Securities Commission
MT4, MT5, Exness Terminal
Visit Broker
76% of retail CFD accounts lose money
Yes
USD 100
30:1
Yes
No
ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services Agency
Central Bank of IrelandFinancial Regulatory Services AuthorityIsrael Securities Authority
MT4, MT5, Avatrade Social, AvaOptions
Visit Broker
72.90% of retail CFD accounts lose money
Yes
USD 0
2000:1
No
No
FCA Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services Commission
The Seychelles Financial Services AuthorityCapital Markets Authority
MT4, MT5, HFM Trading App
Visit Broker
70.81% of retail CFD accounts lose money
Yes
USD 200
30:1
Yes
Yes
CySEC Regulated BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasCapital Markets Authority
MT4, MT5, cTrader, TradingView
Visit Broker
77.41% of retail CFD accounts lose money
Yes
USD 10
1000:1
Yes
No
CySEC Regulated BrokersThe Seychelles Financial Services AuthorityFinancial Regulatory Services Authority
MT4, MT5, NAGA Web App
Visit Broker
89% of retail CFD accounts lose money
Yes
AUD 0
500:1
Yes
Yes
ASIC Regulated Forex BrokersVanuatu
MT4, MT5, cTrader, TradingView
Visit Broker
79% of retail CFD accounts lose money
Yes
AUD 100
30:1
No
Yes
ASIC Regulated Forex BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersThe Seychelles Financial Services Authority
Financial Services CommissionCapital Markets Authority
MT4, MT5, cTrader, TradingView
Visit Broker
74% of retail CFD accounts lose money
Yes
USD 100
30:1
No
No
CySEC Regulated BrokersFCA Regulated BrokersFSCA Regulated Forex BrokersThe Seychelles Financial Services Authority
Dubai Financial Services Authority
MT4, MT5, TradingView
Visit Broker
75.6% of retail CFD accounts lose money
Yes
USD 0
500:1
No
No
FCA Regulated BrokersCySEC Regulated BrokersASIC Regulated Forex BrokersFinancial Markets Authority of New Zealand
Dubai Financial Services AuthorityFinancial Services Authority – St. Vincent & the Grenadines
MT4
Pepperstone
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 0
Max. Leverage (Forex)
30:1
Trading Central
No
Trading View
Yes
Regulators
regulatorregulatorregulatorregulator
regulatorregulatorregulator
Platforms
cTrader, MT4, MT5, Pepperstone Platform, TradingView
Exness
4.3
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 3
Max. Leverage (Forex)
0:1
Trading Central
Yes
Trading View
Yes
Regulators
regulatorregulatorregulatorregulator
regulatorregulator
Platforms
MT4, MT5, Exness Terminal
AvaTrade
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 100
Max. Leverage (Forex)
30:1
Trading Central
Yes
Trading View
No
Regulators
regulatorregulatorregulatorregulator
regulatorregulatorregulator
Platforms
AvaOptions, Avatrade Social, MT4, MT5
HFM
4.4
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 0
Max. Leverage (Forex)
2000:1
Trading Central
No
Trading View
No
Regulators
regulatorregulatorregulatorregulator
regulatorregulator
Platforms
MT4, MT5, HFM Trading App
IC Markets
4.5
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 200
Max. Leverage (Forex)
30:1
Trading Central
Yes
Trading View
Yes
Regulators
regulatorregulatorregulatorregulator
Platforms
cTrader, MT4, MT5, TradingView
NAGA
4.1
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 10
Max. Leverage (Forex)
1000:1
Trading Central
Yes
Trading View
No
Regulators
regulatorregulatorregulator
Platforms
MT4, MT5, NAGA Web App
Fusion Markets
4.4
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
AUD 0
Max. Leverage (Forex)
500:1
Trading Central
Yes
Trading View
Yes
Regulators
regulatorregulator
Platforms
cTrader, MT4, MT5, TradingView
FP Markets
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
AUD 100
Max. Leverage (Forex)
30:1
Trading Central
No
Trading View
Yes
Regulators
regulatorregulatorregulatorregulator
regulatorregulator
Platforms
cTrader, MT4, MT5, TradingView
Tickmill
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 100
Max. Leverage (Forex)
30:1
Trading Central
No
Trading View
No
Regulators
regulatorregulatorregulatorregulator
regulator
Platforms
MT4, MT5, TradingView
Axi
4.4
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Copy Trading
Yes
Min. Deposit
USD 0
Max. Leverage (Forex)
500:1
Trading Central
No
Trading View
No
Regulators
regulatorregulatorregulatorregulator
regulatorregulator
Platforms
MT4
Find Your Ideal Forex Broker

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How Brokers Are Scored

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score.

  • Trust Rating: Assessment of broker reliability and reputation
  • Trading Costs: Spreads and fees for clear comparisons
  • Platforms: User-friendliness and features 
  • Asset Selection: Forex, stocks, and other available instruments
  • Deposit and Withdrawal: Simple and free deposits & withdrawals
  • Education: Support for beginners and developing traders
  • Customer Support: Accessibility, responsiveness, and expertise

 

Learn how we set the standard for broker reviews. Explore our in-depth review process here.

Pepperstone

Best for: Filipino traders who want flexible social and copy trading options across multiple platforms

Pepperstone
4.61
75.3% of retail CFD accounts lose money

Min. Spread

0 pips

Regulation

CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC

Min. Deposit

USD 0

Platforms

Pepperstone Platform, TradingView, cTrader, MT5, MT4

Max Leverage

30:1

A leading ASIC-regulated ECN/STP broker, Pepperstone offers trading on multiple assets, including Forex, indices, shares, commodities, cryptocurrencies, and indices.   Known for its tight spreads, ultra-fast execution, and broad platform support, Pepperstone also offers a number of powerful third-party copy trading systems for traders to choose from, including MetaTrader Signals, Duplitrade, and Myfxbook.

MetaTrader Signals takes the guesswork and emotion out of trading by allowing traders to access thousands of trading strategies and signals from traders in real-time. It also allows traders to diversify their trading and reduce their portfolio risk by using different signal providers with different approaches. Similarly, Duplitrade allows traders to engage in automated trading, using signals from proprietary traders, which helps them to build their trading knowledge and gain an understanding of pro techniques.  Myfxbook is an account mirroring service that allows traders to copy the trades of the top Forex traders.  There are no performance or management fees, and Myfxbook provides accurate statistics, allowing traders to quickly analyse and improve their performance.   

Why Pepperstone Stands Out

  • Integrations with Top Platforms

    Pepperstone supports Myfxbook AutoTrade, DupliTrade, and MetaTrader Signals — giving you multiple strategies and providers to choose from.

  • No Mark-Ups or Hidden Fees

    Follows raw spread pricing even in copy trades, ensuring transparent and competitive costs for followers.

  • Regulated by ASIC, FCA, and DFSA

    Gives Filipino traders peace of mind when trusting third-party copy trade integrations.

  • Fast Execution, Low Latency

    Helps ensure trades are copied in real-time with minimal slippage, especially for scalping strategies.

Why Pepperstone Falls Short

  • No Native Copy Platform

    Users must register separately for each external platform; less streamlined than competitors with in-house copy systems.

  • Limited Educational Resources on Copy Trading

    Beginners may find it harder to evaluate signal providers without built-in tutorials.

Pepperstone | Best for: Filipino traders who want flexible social and copy trading options across multiple platforms

Final Verdict: Is Pepperstone right for you?

Trade if:

  • You want a trusted, low-cost broker with access to leading copy trade networks
  • You already use MetaTrader Signals, DupliTrade, or Myfxbook AutoTrade

Consider Alternatives:

  • You prefer a fully integrated copy trading platform with one-click setup
  • You need beginner tutorials for copy trading
Visit Broker
Accepts clients from the Philippines pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.

Exness

Best for: Beginners in the Philippines who want an easy-to-use mobile copy trading app with transparent performance stats

Exness
4.32
71.67% of retail CFD accounts lose money

Min. Spread

0.1 pips

Regulation

JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA

Min. Deposit

USD 3

Platforms

Exness Terminal, MT5, MT4

Max Leverage

Unlimited:1

Why Exness Stands Out

  • Dedicated Copy Trading App

    Simple mobile-first design lets users follow strategies based on ROI, risk score, and trading style — all in one place.

  • No Performance Fees

    Some strategy providers waive fees, letting users test without upfront cost — uncommon among competitors.

  • Quick Onboarding

    Start copying trades with just a $500 investment — much lower than DupliTrade or ZuluTrade minimums.

  • Real-Time Portfolio Tracking

    The app provides full control to pause, adjust, or stop copying without delays or restrictions.

Why Exness Falls Short

  • Copy Trading Only Available via Mobile App

    No desktop version available — not ideal for traders who prefer full-screen analysis tools.

  • Limited Filtering Options

    Fewer metrics available to evaluate strategy providers compared to more established copy platforms.

Exness | Best for: Beginners in the Philippines who want an easy-to-use mobile copy trading app with transparent performance stats

Final Verdict: Is Exness right for you?

Trade if:

  • You prefer mobile-first investing with quick access and simplified controls
  • You want to copy top-performing traders without paying performance fees

Consider Alternatives:

  • You need desktop-based portfolio management
  • You want advanced filtering to choose providers by strategy complexity
Visit Broker
Accepts clients from the Philippines. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage Unlimited:1. Islamic account available. MT4, MT5, Exness web trader platforms supported. Exness is regulated by CySEC, FCA, and the FSC.

AvaTrade

Best for: Copy traders in the Philippines looking for AutoTrading via DupliTrade and ZuluTrade with strong regulation

AvaTrade
4.59
76% of retail CFD accounts lose money

Min. Spread

0.9 pips

Regulation

ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC

Min. Deposit

USD 100

Platforms

AvaOptions, Avatrade Social, MT5, MT4

Max Leverage

30:1

Avatrade is a leading global CFD market maker broker with excellent regulation offering trading on multiple assets, including Forex, cryptocurrencies, ETFs, options, bonds, and vanilla options on one live commission-free account with competitive trading conditions.

The Avasocial App helps traders to discover successful traders and qualified mentors, displaying their risk profile, experience, and trading style. Copy traders will receive continuous real-time updates about the state of their trades and can talk one-on-one to providers. Avatrade has also partnered with Mirror Trader and Zulutrade to offer a wider range of copy trading functionality. Mirror Trader allows investors to switch between manual copy trading, semi-automatic trading, or automatic trading when following a provider.

Why AvaTrade Stands Out

  • Integrated AutoTrading via DupliTrade & ZuluTrade

    Gives users access to hundreds of professional strategy providers — with historical performance tracking and transparent fees.

  • Licensed Globally in 6 Jurisdictions

    Offers added protection and compliance, especially important when copying third-party providers.

  • AvaSocial for Community-Based Signals

    Lets users follow, chat, and trade with peers in a social trading environment — unique among brokers with copy options.

  • Risk Management Tools Included

    Features like AvaProtect and position sizing available even on copied trades via Ava platforms.

Why AvaTrade Falls Short

  • High Minimum for DupliTrade ($2,000)

    Less accessible for beginners or those with smaller trading capital.

  • Copy Features are Fragmented

    Copy options are spread across multiple platforms (AvaSocial, Zulu, DupliTrade), requiring separate logins.

AvaTrade | Best for: Copy traders in the Philippines looking for AutoTrading via DupliTrade and ZuluTrade with strong regulation

Final Verdict: Is AvaTrade right for you?

Trade if:

  • You want variety in copy trade providers and regulation-backed security
  • You’re willing to invest $2,000+ to access DupliTrade

Consider Alternatives:

  • You prefer one-click in-app copy trading
  • You have a small account size under $500
Visit Broker
Accepts clients from the Philippines. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

HFM

Best for: Filipino traders seeking an easy-to-use internal copy trading network with low entry barriers

HFM
4.43
72.90% of retail CFD accounts lose money

Min. Spread

0.0 pips

Regulation

CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA

Min. Deposit

USD 0

Platforms

HFM Trading App, MT5, MT4

Max Leverage

2000:1

HFM is a well-regulated broker with three of its accounts have no minimum deposits and very low trading fees. It also offers an exclusive HFcopy account. The HFcopy Account is available to both Strategy Providers and Followers who have joined HFcopy. Strategy Providers can open an HFcopy Account to build their inventory of Followers and trade on behalf of their Followers in exchange for a Performance Fee. Followers only pay Strategy Providers if their strategies are successful.

The HFcopy account offers slightly different trading conditions to HFM’s regular accounts. Strategy Providers must make a minimum opening deposit of 300 USD, and Followers must make 100 USD. HFcopy accounts are only denominated in USD and offer commission-free trading with spreads starting at 1.0 pips on the EUR/USD.

Why HFM Stands Out

  • HFcopy Platform Fully Integrated

    No need to rely on third-party tools — the platform allows direct selection and management of strategy providers within your account.

  • Join with as little as $100

    Ideal for beginners and small-account traders who want to explore copy trading without high capital requirements.

  • Built-In Analytics for Providers

    Access real-time metrics including ROI, drawdown, win rate, and trading style before subscribing.

  • Copy Both Forex & CFDs

    Unlike many rivals, HFM lets you copy a broader set of asset classes including commodities and indices.

Why HFM Falls Short

  • Limited to HFM's Strategy Providers

    Cannot integrate with Myfxbook, ZuluTrade, or external copy networks.

HFM | Best for: Filipino traders seeking an easy-to-use internal copy trading network with low entry barriers

Final Verdict: Is HFM right for you?

Trade if:

  • You want a one-stop internal copy trading platform with low entry
  • You trade with $100–$500 and seek built-in risk analytics

Consider Alternatives:

  • You want to use external tools like ZuluTrade or DupliTrade
  • You prioritize strategy providers with long-term histories
Visit Broker
Accepts clients for the Philippines. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 2000:1. Islamic account available. MT4 & MT5 platforms supported. HFM Group regulated by the CMA, FSCA, FCA, FSC and the DFSA.

IC Markets

Best for: Experienced traders in the Philippines looking for institutional-grade copy tools like Myfxbook AutoTrade

IC Markets
4.46
70.81% of retail CFD accounts lose money

Min. Spread

0.1 pips

Regulation

CMA, FSA-Seychelles, SCB, CySEC

Min. Deposit

USD 200

Platforms

TradingView, cTrader, MT5, MT4

Max Leverage

30:1

Why IC Markets Stands Out

  • Direct Support for Myfxbook AutoTrade

    Links with one of the most reputable and data-rich copy trading platforms — ideal for users who want to analyze detailed trade history.

  • High Execution Speeds & Raw Spreads

    Institutional-grade infrastructure ensures copied trades execute accurately with tight spreads.

  • Regulated in Australia, Seychelles, and Cyprus

    IC Markets offers security and choice based on your risk appetite and location preference.

  • Supports MT4, MT5, and cTrader

    Flexible for traders who want to combine copy trading with manual or automated strategies.

Why IC Markets Falls Short

  • Requires External Myfxbook Signup

    Copy trading isn’t native — you’ll need to open and configure a Myfxbook AutoTrade account separately.

  • Higher Learning Curve

    Ideal for those who already understand trade analytics and copy trading mechanics — not the best for absolute beginners.

IC Markets | Best for: Experienced traders in the Philippines looking for institutional-grade copy tools like Myfxbook AutoTrade

Final Verdict: Is IC Markets right for you?

Trade if:

  • You already use or want to explore Myfxbook AutoTrade
  • You prefer copy trading with full transparency and control

Consider Alternatives:

  • You need a simplified copy trading experience
  • You’re just starting and want pre-curated strategies with 1-click access
Visit Broker
Accepts clients from the Philippines. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC, ASIC, the SCB, and the FSA .
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How did FxScouts select the best copy trading accounts?

Before recommending a copy trading broker, we conduct a detailed verification and review process.

Our detailed verification process

When choosing the best copy trading brokers, we:

  • Checked whether the brokers offered copy trading and through which trading platforms. The best brokers offer copy trading through user-friendly proprietary platforms that accommodate social and copy trading. We also checked whether the brokers incorporate third-party copy trading platforms, such as ZuluTrade, DupliTrade, and MyFXBook.
  • Ensured that the brokers we selected had a high trust rating and were regulated by the world’s best authorities, such as the UK’s FCA. Brokers that are well-regulated follow strict rules regarding the safety of trader funds and trade execution.
  • Investigated the trading fees charged by brokers, including spreads, swaps, and commissions and compared them to the industry average. Some brokers charge traders fees for copy trading, mostly in the form of a profit share. We ensured that these fees were reasonable. 
  • Evaluated the number of tradable assets available at each broker and which assets were available for copy trading.
  • Assessed the brokers’ trading platforms, ensuring that they offered a good range to choose from, and whether the platforms were easy to use. We also thoroughly tested out the copy trading functionality on the platforms.
  • Tested the brokers’ execution on their copy trading platforms and evaluated the liquidity supply and speed of order execution afforded by the broker. 
  • Checked out the brokers’ educational materials, including whether they offer education in video or article format, if they offer live sessions, and whether they offer a demo account for traders to practice copy trading.
  • Assessed the broker’s market analysis,ensuring it was comprehensive and frequently updated.
  • Contacted the brokers’ customer support via all channels to check how responsive, knowledgeable, and helpful the agents were, and the availability of this support, whether 24/5, 24/7, or limited to business hours.

Copy Trading in The Philippines

In recent times, the concept of copy trading has been gaining traction globally, and the Philippines is no exception. As more Filipinos become digitally connected and look for diverse investment opportunities, platforms offering services like copy trading are seeing increased interest. 

However, as with any financial venture, potential traders should exercise caution. It’s crucial to conduct thorough research and choose reputable platforms, especially in a landscape where regulations might still be evolving.

What is Copy Trading?

Copy trading is a type of online trading that allows individuals to automatically copy the positions opened and managed by another selected trader, known as a strategy provider. This innovative approach allows users to mirror the trades and strategies of experienced and successful traders.

With copy trading, each time the strategy provider makes a trade, the same trade is executed in the copier’s account. The copier does not need to do anything manually; everything is handled automatically by the trading platform.

This trading method can benefit beginners who are still learning about the markets and developing their own trading strategies. It also serves as a time-saving tool for experienced traders who may not have the time to follow the markets as closely as they would like.

The copy trading process typically involves just a few clicks to choose a trader to copy, after which the system takes care of the rest. The trades are copied proportionally, meaning that even if you have a smaller account, you can still follow the trades of a strategy provider with a much larger account.

However, while copy trading can be beneficial, it’s crucial to remember that all trading involves risk. It’s possible to lose money and make it, and the past performance of a trader is not necessarily indicative of their future results. Therefore, it’s always wise to do your due diligence, understand the trader’s strategy, and consider the level of risk you are comfortable with before starting copy trading.

"While copy trading can be beneficial, it's crucial to remember that all trading involves risk."

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The Difference Between Social Trading and Copy Trading

While social and copy trading leverage online community-based platforms, they differ substantially in their processes and levels of engagement.

Social Trading

Social trading is a holistic approach that encourages direct interaction between traders within an online network. Much like a traditional social media network, users can follow others, communicate, share insights, and discuss trading strategies. Some platforms also facilitate live feeds where traders can post updates about their trading activities, insights about market conditions, or explain their strategy’s rationale.

By providing a platform for discussion and direct observation, social trading serves as a learning ground where less experienced traders can learn from seasoned ones. Social trading is not just about replicating trades; it’s about discussing why specific strategies are employed, interpreting market events with your peers, and building your trading competence over time.

Copy Trading

Copy trading, on the other hand, is a more passive form of trading. Here, traders can select one or more experienced traders to follow. The system then automatically replicates the strategy provider’s trades into the copier’s account. This feature eliminates the need for continuous market monitoring and manual execution of trades, as it’s all handled by the platform.

The primary benefit of copy trading is its simplicity and convenience. You essentially delegate the trading decisions and actions to the trader you’re copying. This approach can be advantageous if you lack trading experience, struggle to keep up with market fluctuations, or simply don’t have the time to trade actively.

However, copy trading does not involve the same level of engagement and learning opportunities as social trading. You follow the trader’s actions but may not necessarily understand the reasoning behind those decisions unless the copied trader provides these insights on the platform.

Both social and copy trading offer unique advantages and cater to different trading styles. Your choice between the two (or a blend of both) would depend on your trading knowledge, available time, risk appetite, and interest in actively engaging with the trading community.

Choosing a Trader to Follow

One of the most crucial steps in copy trading is the selection of a trader to follow. Here’s how you can make an informed choice:

  • Analyse Trading Performance: Review the trader’s historical performance. While past performance does not guarantee future success, it can give you an idea of their trading strategy’s effectiveness over time.
  • Understand their Strategy: What markets does the trader focus on? How much risk do they take? Make sure their strategy aligns with your trading goals and risk tolerance.
  • Check their Risk Score: Most platforms provide a risk score for each trader. A lower score typically indicates a safer, more conservative approach to trading.
  • Review their Follower Count: A high follower count can indicate trust from other users, although it’s still essential to conduct your own analysis.

How to Get Started with Copy/Social Trading

Step 1: Sign Up: Register on your chosen platform by providing the necessary information. This process may include verifying your identity.

Step 2: Familiarise Yourself with the Platform: Copy-trading is available via signals on the popular MetaTrader 4 and MetaTrader 5 trading platforms. The cTrader trading platform has a more accessible copy trading function called cTrader copy. There are also some dedicated copy trading platforms like Zulutrade, Duplitrade and Myfxbook Autotrade, though these require a subscription fee. Whichever platform you use to copy trade, you will need to spend time exploring the platform and its features.

Step 3: Choose a Trader to Follow: Utilize the process described in the section above to select a trader whose strategy aligns with your investment goals.

Step 4: Begin Trading: You can start by either copying trades or engaging in discussions within the trading community. It’s recommended to start with a smaller investment and gradually increase it as you gain experience and confidence.

"The primary benefit of copy trading is its simplicity and convenience. You essentially delegate the trading decisions and actions to the trader you're copying."

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Frequently Asked Questions

Find answers to common questions about copy trading, including legality and the minimum investment required.

What is the minimum investment required for copy/social trading?

The minimum investment varies across platforms. For instance, on some platforms, you can start copy trading with 200 USD, while others may allow you to start with as little as 1 USD.

Is copy trading legal in the Philippines?

Yes, copy trading is legal in the Philippines. Copy trading and social trading are considered self-directed, as traders who use this function always select the trading system to copy. Prior to the explosion in social trading, copy trading was only available via a managed account. Managed accounts require a power of attorney and a large account balance and so are unpopular amongst typical retail traders.

What occurs if the trader I’m copying discontinues trading?

If the trader you’re copying decides to stop trading, your account will not open any new trades. You will then need to select a new trader to follow.

Can I terminate copy trading at any point?

Yes, you can stop copying a trader at any time, and you should continuously monitor your trades’ performance and make adjustments as needed.

How much control do I have over my trades when I’m copy trading?

Although the trades are automatically replicated from the trader you’re copying, you still retain control over your own account. You can manually close trades, pause copy trading, or stop copying a trader at any time.

Can I copy multiple traders at the same time?

Yes, most platforms allow you to copy multiple traders simultaneously. This can be beneficial as it allows you to diversify your portfolio across different trading strategies.

Can I start copy trading with a demo account?

Many trading platforms offer a demo or practice account where you can use virtual money to copy trades. This can be a good way to understand how copy trading works and test out different traders’ strategies before investing real money.

What are the costs associated with copy trading?

Costs can vary between platforms. Some platforms charge a fixed fee, some charge a percentage of profits, and others may apply spreads on trades. Always check the cost structure of your chosen platform.

How are the copied trades sized in my account?

Trades are usually copied in proportion to the amount of money you have allocated to copy a particular trader. For example, if the copied trader opens a trade using 10% of their balance, then a trade for 10% of the amount you allocated for copying them will be opened in your account.

What should I do if the trader I’m copying is consistently losing money?

If the trader you’re copying is not performing as expected, it’s essential to reassess your decision. You might choose to stop copying them and select another trader, or you might decide to pause copying and monitor their performance for a while. Remember, it’s crucial to regularly review the performance of the traders you’re copying.

Can I interact with the traders I’m copying?

On some platforms, you can communicate with other traders, ask questions, and share strategies. This feature is more commonly available on social trading platforms, and beginners may find it beneficial as it allows you to learn more about trading strategies and market conditions.

Although copy and social trading might seem overwhelming initially, with the right knowledge and approach, you can leverage the experience and strategies of successful traders. While this opportunity offers an expedited learning curve for beginners and a chance to diversify strategies for seasoned traders, it’s crucial to remember that all trading involves risk. Just because a trader has been successful previously does not mean they will continue to make a profit, so never trade with money that you cannot afford to lose.

How do I compare copy trading brokers? 

When selecting a copy trading broker, prioritising regulation is crucial as it safeguards your funds. Evaluate the associated costs if the broker’s copy-trading service uses platforms such as Zulutrade, Duplitrade, or Myfxbook. Opt for a system that provides comprehensive metrics of traders you could emulate, including risk indicators and profitability. Ensure your broker offers a broad range of traders to follow, ensuring diverse choices. It’s also essential to have a system that enables trade filtering based on your risk and return preferences, offering flexibility. Avoid brokers that lock you into copy trading for a set period. You should be able to stop copying trades instantly. Be aware of the fee structure, whether it’s a flat, success-based fee or a broker subscription; all costs should be clear and upfront. Lastly, consider the specific broker accounts that offer copy trading, their required minimum deposit, and their trading costs before committing.

"Although the trades are automatically replicated from the trader you're copying, you still retain control over your own account."

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