We offer you a good choice of some of the most well-established copy trading services on our coinup trading app. We also collaborate with third party products like DupliTrade and ZuluTrade to offer you a choice of automated trading packages. In addition, we have in-platform signals directly on CoinUp app, which enable you to see the latest valid trade notifications and follow them and their pre-set suggested parameters, like Stop Loss and Take Profit levels based on support and resistance lines, by clicking SELL or BUY.

Copy Trading main FAQs

Do I need prior trading experience to engage in copy trading?

If your plan is only to follow and copy other traders, there is no experience required. However, it can be helpful in analysing and selecting a good trader to copy. In reality, it is often the traders with no experience who like to use copy trading. It can be a good way to begin growing an account, and if you take the time to analyse the trades being made by those you follow it can also be a very good way to learn about trading too. If you’re a new trader and are worried about losing money with copy trading, you could always try it with a demo account first before funding your account.

Is copy trading too risky?

If you take the time to identify good traders to copy on the CoinUp trading app, you aren’t necessarily taking any more risk than when trading your own account. That is to say, trading is inherently risky, and there is always the possibility that you will lose money. Also, it’s important to note that the past performance of a trader is no guarantee of their future performance, so even if they’ve been profitable for three years running, they could have their first losing week right after you decide to follow them. As always, never invest more than you can afford to lose.

How can I find good traders to copy?

While it might seem tempting to copy the trader with a 300% annual return, in general, these traders are probably taking on far too much risk and could eventually incur a loss. Look for traders who have at least 1-year trading history and a positive but not crazy return. The trader should also be active placing several trades per week. This ensures that they are trying to grow their trading base rather than just locking your money in a single trade. If you want to spread out your risk, you can spread out your copy trading between 2-4 different traders, as many users do on the CoinUp trading app.