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Alison Heyerdahl
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Alison Heyerdahl
Edited by
Alison Heyerdahl
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Author
Author
Chris Cammack
Partner Manager and Financial Writer

<p>Chris manages the relationships with our partners to provide our users with the best Forex trading experience possible. Chris has 15+ years of experience in research, editorial and design for political and financial publications. His background has given him a deep understanding of international financial markets and the geopolitics that affect them.</p>

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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.

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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 Zambia for 2025

Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content
Learn more about Alison Heyerdahl
Chris Cammack
Author
Chris Cammack
Partner Manager and Financial Writer

<p>Chris manages the relationships with our partners to provide our users with the best Forex trading experience possible. Chris has 15+ years of experience in research, editorial and design for political and financial publications. His background has given him a deep understanding of international financial markets and the geopolitics that affect them.</p>

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 for Zambian traders for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence.

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Best Copy Trading Brokers in Zambia for 2025

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Official Site
Copy Trading
Trading Central
Trading View
Regulators
Platforms
Compare
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
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
75% of retail CFD accounts lose money
Yes
USD 100
30:1
Yes
No
FCA Regulated BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services Authority
Securities Commission of the Bahamas
MT4, MT5, cTrader, FxProEdge
Visit Broker
75.18% of retail CFD accounts lose money
Yes
USD 5
30:1
No
No
CySEC Regulated BrokersASIC Regulated Forex BrokersDubai Financial Services AuthorityInternational Financial Services Commission
MT4, MT5
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
67.65% of retail CFD accounts lose money
Yes
USD 25
1000:1
No
No
CySEC Regulated BrokersFSCA Regulated Forex BrokersMwali International Services AuthorityFinancial Services Commission
MT4, MT5, OctaTrader
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
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
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
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
FxPro
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 100
Max. Leverage (Forex)
30:1
Trading Central
Yes
Trading View
No
Regulators
regulatorregulatorregulatorregulator
regulator
Platforms
cTrader, MT4, MT5, FxProEdge
XM
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 5
Max. Leverage (Forex)
30:1
Trading Central
No
Trading View
No
Regulators
regulatorregulatorregulatorregulator
Platforms
MT4, MT5
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
Octa
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 25
Max. Leverage (Forex)
1000:1
Trading Central
No
Trading View
No
Regulators
regulatorregulatorregulatorregulator
Platforms
MT4, MT5, OctaTrader
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
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
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.

AvaTrade

Best For: Zambian traders seeking regulated copy‑trading with a wide range of instruments

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

Why AvaTrade Stands Out

  • Strong Regulation & Global Presence

    Holds licenses in Ireland, Australia, and Japan, giving Zambian traders added security and multiple compliance safeguards.

  • Multi-Platform Copy Tools
    Offers integrated copy trading via DupliTrade and ZuluTrade, plus proprietary AvaSocial, helping beginners mirror strategies from vetted global traders.
  • Variable Risk Profiles

    Traders can filter signal providers by drawdown, performance duration, and risk score, often more granular than many rivals.

  • No Minimum Copy Volume on AvaSocial

    You can follow strategies with as little as $100—ideal for Zambian traders testing copy trading without committing big capital.

  • Regular Performance Reports

    Weekly and monthly performance dashboards provide accurate historical insight, not just snapshot stats.

Why AvaTrade Falls Short

  • Limited Local Deposit Methods

    Zambian traders may need to rely on international wire transfers or credit cards; local mobile money isn’t fully supported yet.

  • Spreads Slightly Higher on DMA Instruments

    Copy accounts trading CFDs may encounter 0.5–1 pip above industry-leading spreads—sacrificing cost for ease of use.

AvaTrade | Best For: Zambian traders seeking regulated copy‑trading with a wide range of instruments

Final Verdict: Is AvaTrade right for you?

Trade if:

  • Trade if you want a wide toolkit of copy-trading platforms with strong regulation
  • Trade if you prefer a diversified signal provider selection with robust filtering and reporting

Consider Alternatives:

  • Consider alternatives if you need local deposit/withdrawal via mobile money or MT5 alignment
  • Consider alternatives if ultra-tight spreads are paramount
Visit Broker
Accepts Zambian Clients. 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: Zambian traders seeking low minimums and MT4‑based copy trading

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

Why HFM Stands Out

  • Very Low Minimum Deposit

    Starter accounts, starting at just $5, allow cautious capital exposure in copy-trading setups.

  • Robust PAMM/MAM Suite

    Proprietary HotForex PAMM/MAM accounts let Zambians copy seasoned PFMs with transparent performance metrics.

  • Fast Execution Speeds

    Dedicated liquidity pools reduce slippage—a benefit for following high-frequency signals.

  • Multi-Awarded Customer Service

    Live chat and regional offices provide support in multiple languages, with 24/7 availability.

  • Educational Support

    Webinars specifically targeting copy-trading practices are regularly offered for the African market.

Why HFM Falls Short

  • Only MT4-Based Copy Options
    Lacks MT5 or WebTrader copy solutions, limiting more advanced traders’ flexibility.
  • Deposit Charges May Apply
    Micro-deposits via cards or wallets sometimes trigger fees and do not always relay information before the funds are transferred.

HFM | Best For: Zambian traders seeking low minimums and MT4‑based copy trading

Final Verdict: Is HFM right for you?

Trade if:

  • Trade if you want ultra‑low entry costs and MT4-based copy‑trading
  • Trade if you value educational webinars tailored to African copy‑trading models

Consider Alternatives:

  • Consider alternatives if you prefer MT5 or WebTrader access
  • Consider alternatives if funding charges are a concern
Visit Broker
Accepts Zambian Clients. 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. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

Pepperstone

Best For: Zambian algo traders and scalpers seeking razor‑thin spreads and premium copy access

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

Why Pepperstone Stands Out

  • Industry-Leading Spreads & ECN Execution

    Razor-thin spreads from 0.0 pips on the Razor account; excellent for copying high-frequency strategies.

  • Integrated with Myfxbook AutoTrade

    Easy one-click sync with top-rated Myfxbook leaders and full history transparency.

  • Excellent Trading Infrastructure

    SSA technologies, VPS solutions, and sub-1ms latency data centers help reduce slippage on copied trades.

  • Regulated Across 5 Regions

    FCA, ASIC, CySEC, SCB, and DFSA ensure multi-jurisdictional protections—great for trust in cross-border copy setups.

  • Dedicated Tools for Risk Control

    Offers negative balance protection and the option to set max copy lot limits per strategy.

Why Pepperstone Falls Short

  • No Proprietary Copy Platform

    Relies on third-party Myfxbook; performance vetting depth and community support vary.

  • Complicated commission structure

    Commissions vary based on the trading platform and base currency

Pepperstone | Best For: Zambian algo traders and scalpers seeking razor‑thin spreads and premium copy access

Final Verdict: Is Pepperstone right for you?

Trade if:

  • Trade if you’re an experienced scalper/algo trader chasing institutional-grade copy execution
  • Trade if tight spreads and low latency are key to your strategy

Consider Alternatives:

  • Consider alternatives if you’re new to copy trading or want built-in social platforms
  • If you want a simple account structure
Visit Broker
Accepts Zambian Clients. Average spread EUR/USD 1.00 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: Zambian retail traders needing flexible leverage and local payment ease

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

  • Uncapped Leverage Options
    Offers up to 1:2000 leverage on major FX pairs—appealing to Zambians seeking aggressive risk/reward setups in copy trading.
  • Local Payment Integrations
    Supports Skrill, Neteller, and WebMoney, and often integrates local GTBank/MTN Mobile Money in Zambia for quick fund access.
  • Copy-trading via MT4/MT5 Signals
    In-platform signal marketplace with verified provider ratings and stability scores.
  • Transparent Performance Data
    Publicly accessible signal analytics—max drawdowns, best/worst months, verifiable on MT4/MT5 logs.
  • Fast Withdrawals
    Typically processes Zambian withdrawals within 2–3 hours via local partners—a major UX plus.

Why Exness Falls Short

  • High Leverage Risks
    While uncapped leverage is available, it may lure inexperienced traders into outsized risk via copied positions.
  • Spread Mark‑ups on Free Accounts
    Standard accounts see wider spreads (1.0–1.5 pips); tight spreads reserved for Pro or ECN accounts.

Exness | Best For: Zambian retail traders needing flexible leverage and local payment ease

Final Verdict: Is Exness right for you?

Trade if:

  • Trade if you value fast local payments and high-leverage copy capacity
  • Trade if you plan to manage multiple signal streams with strong analytics

Consider Alternatives:

  • Consider alternatives if you're wary of high-leverage pitfalls or want fixed-spread environments
  • Consider alternatives if you prefer a broker with social-focused platforms vs. in-platform signal lists
Visit Broker
Accepts Zambian Clients. 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.

FxPro

Best For: Zambian traders looking for premium execution and copy trading in MT4/MT5

FxPro
4.39
75% of retail CFD accounts lose money

Min. Spread

0.4 pips

Regulation

SCB, DFSA, FSCA, FCA, CySEC

Min. Deposit

USD 100

Platforms

FxProEdge, cTrader, MT5, MT4

Max Leverage

30:1

Why FxPro Stands Out

  • Ultra-Reliable Execution & No Re-quotes
    ECN and STP environments ensure that Zambian followers receive near-instant trade replication from selected providers.
  • Supports cTrader Plus MT4/MT5 Copy
    Ability to switch between MT and cTrader ecosystems—gives access to cTrader Copy as well as MetaSignals.
  • Tiered Commission Model
    Competitive commissions start at $4 per round-turn lot in ECN, with volume tiers that reduce overall costs for copy-traders.
  • Global Data Centres & VPS Support
    Offers free VPS for qualifying accounts—key to consistent copy execution with low latency.
  • Multi-Regulated (FCA, CySEC, FSCA)
    Ensures compliance oversight; safeguards available via multiple jurisdictions strengthen trust.

Why FxPro Falls Short

  • Higher Commissions on Low‑Volume Trades
    Traders copying micro lots may face relatively high fixed fees per trade compared to others offering zero-commission options.
  • Limited Social/Tournaments Engagement
    While it offers copy tech, FxPro lacks a community or ranking environment, reducing social proof for newbies.

FxPro | Best For: Zambian traders looking for premium execution and copy trading in MT4/MT5

Final Verdict: Is FxPro right for you?

Trade if:

  • Trade if you want ultra‑reliable execution with access to MT and cTrader copy frameworks
  • Trade if you can commit sufficient volume to offset commission tiers

Consider Alternatives:

  • Consider alternatives if you're on a shoestring budget or want a social copy‑trading community
  • Consider alternatives if micro‑lot copy strategies are your main use
Visit Broker
Accepts Zambian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the SCB.
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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 Zambia

In recent times, the concept of copy trading has been gaining traction globally, and Zambia is no exception. As more Zambians 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 Zambia?

Yes, copy trading is legal in Zambia. 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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