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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.
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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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Broker | Official Site | Copy Trading | Trading Central | Trading View | Regulators | Platforms | Compare | |||
---|---|---|---|---|---|---|---|---|---|---|
Yes | USD 100 | 30:1 | Yes | No | MT4, MT5, Avatrade Social, AvaOptions | |||||
Yes | USD 0 | 2000:1 | No | No | MT4, MT5, HFM Trading App | |||||
Yes | USD 0 | 30:1 | No | Yes | MT4, MT5, cTrader, TradingView, Pepperstone Platform | |||||
Yes | USD 3 | 0:1 | Yes | Yes | MT4, MT5, Exness Terminal | |||||
Yes | USD 100 | 30:1 | Yes | No | MT4, MT5, cTrader, FxProEdge | |||||
Yes | USD 5 | 30:1 | No | No | MT4, MT5 | |||||
Yes | USD 200 | 30:1 | Yes | Yes | MT4, MT5, cTrader, TradingView | |||||
Yes | USD 25 | 1000:1 | No | No | MT4, MT5, OctaTrader | |||||
Yes | AUD 100 | 30:1 | No | Yes | MT4, MT5, cTrader, TradingView | |||||
Yes | USD 10 | 1000:1 | Yes | No | MT4, MT5, NAGA Web App |
Find Your Ideal Forex Broker
0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
AvaOptions, Avatrade Social, MT5, MT4
30:1
Holds licenses in Ireland, Australia, and Japan, giving Zambian traders added security and multiple compliance safeguards.
Traders can filter signal providers by drawdown, performance duration, and risk score, often more granular than many rivals.
You can follow strategies with as little as $100—ideal for Zambian traders testing copy trading without committing big capital.
Weekly and monthly performance dashboards provide accurate historical insight, not just snapshot stats.
Zambian traders may need to rely on international wire transfers or credit cards; local mobile money isn’t fully supported yet.
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
FxScouts
0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
Starter accounts, starting at just $5, allow cautious capital exposure in copy-trading setups.
Proprietary HotForex PAMM/MAM accounts let Zambians copy seasoned PFMs with transparent performance metrics.
Dedicated liquidity pools reduce slippage—a benefit for following high-frequency signals.
Live chat and regional offices provide support in multiple languages, with 24/7 availability.
Webinars specifically targeting copy-trading practices are regularly offered for the African market.
HFM | Best For: Zambian traders seeking low minimums and MT4‑based copy trading
FxScouts
0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
30:1
Razor-thin spreads from 0.0 pips on the Razor account; excellent for copying high-frequency strategies.
Easy one-click sync with top-rated Myfxbook leaders and full history transparency.
SSA technologies, VPS solutions, and sub-1ms latency data centers help reduce slippage on copied trades.
FCA, ASIC, CySEC, SCB, and DFSA ensure multi-jurisdictional protections—great for trust in cross-border copy setups.
Offers negative balance protection and the option to set max copy lot limits per strategy.
Relies on third-party Myfxbook; performance vetting depth and community support vary.
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
FxScouts
0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
Exness | Best For: Zambian retail traders needing flexible leverage and local payment ease
FxScouts
0.4 pips
SCB, DFSA, FSCA, FCA, CySEC
USD 100
FxProEdge, cTrader, MT5, MT4
30:1
FxPro | Best For: Zambian traders looking for premium execution and copy trading in MT4/MT5
FxScouts
Before recommending a copy trading broker, we conduct a detailed verification and review process.
When choosing the best copy trading brokers, we:
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.
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 social and copy trading leverage online community-based platforms, they differ substantially in their processes and levels of engagement.
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, 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.
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:
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.
Find answers to common questions about copy trading, including legality and the minimum investment required.
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.
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.
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.
Yes, you can stop copying a trader at any time, and you should continuously monitor your trades’ performance and make adjustments as needed.
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.
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.
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.
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.
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.
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.
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.
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.
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