Are you currently using Darwinex as your primary trading platform, but you’d like to see what else is out there?
You indeed like the Darwinex copy trading features, and you’d be interested to find out what other brokers might offer you some similar service?
Well, you’ve certainly come to the right place as we are going to present 5 excellent Darwinex alternatives.
Darwinex alternative and Darwinex competitors – the 5 best sites like Darwinex
It is important to recognise that the following list of sites like Darwinex are in no particular order. We know how Darwinex and Darwins work, and we know what these platform offers have more to do with investing in instruments (Darwins) than with trading them.
So we have made a list thinking of similar features you might find in the other copy trading platforms.
Let’s start with ZuluTrade.
Launched back in 2007, ZuluTrade is a cross-broker platform that allows users to engage in both copy trading and social trading. Alongside traditional financial products, it is also possible to speculate on a variety of cryptocurrency assets. The set-up at ZuluTrade is slightly different to the other Darwinex alternatives on our list. They are purely a platform that facilitates external brokers. In 2015, ZuluTrade added an extra layer of legitimacy to its brand as the European Union issued the platform an EU Portfolio Management License. ZuluTrade offers an innovative way to simplify investing for traders (rather than trading by yourself), called ZuluTrade Traders’ Combo.
Something you will not if dealing with Zulutrade though is that, it is not compatible with every major broker, nor in every region. You still have a great deal of availability though depending where you are based. You should also be mindful that you have to keep a balance of more than $100 to engage in copytrading here.
Next on our list of brokers similar to Darwinex is the famous eToro. First launched in 2006 and based in Cyprus, the eToro platform has a significant range of investment products at their disposal. This includes CFDs and commodities, currencies, indices and even cryptocurrencies. In terms of regulation, eToro is registered by both the UK’s Financial Conduct Authority and the Cypriot Investment Firm.
The most innovative and facilitating investment feature is by far the eToro CopyPoryfolio. With Copy Funds you don’t social trade, and you don’t copy trade, you simply invest a sum in a fund that will replicate other selected instruments, or even a basket of traders. The eToro minimum deposit here is $200 which is quite the industry standard. Another positive point for traders is that despite offering a wide range of CFDs, you can also trade real cryptos, shares, and ETFs with eToro in the EU on 1:1 leverage. The broker has also recently launched trading services in the US with traders having access to just the crypto section at this time.
Created in 2015 and based in Germany, Naga Markets is a formidable alternative to Darwinex. Originally called SwipeStox until they re-branded, the platform offers both social and copy trading, as well as the option to build a portfolio of your favourite traders. Naga Markets hosts more than 750 individual financial instruments. This covers a range of CFDs, currency pairings, cryptocurrencies and stocks. Regarding regulation, the platform is registered by CySEC.
You will also be pleased to find that there is no minimum deposit at all from NagaTrader. This make it very easy to get started in forex trading where you can also deposit in the form of crypto. Added to that, NagaTrader is ideal for those into trading cryptocurrency. They have both their own NAGA Coin (NGC), and crypto wallet.
This Irish CFD broker is famous for offering only fixed spreads, and not floating ones just like most of its competitors.
Until the start of 2021, it was known mainly for this feature. However not many people acknowledge the huge work done by AvaTrade for offering quality trading platforms, especially on the mobile trading side.
So, why would AvaTrade be a Darwinex alternative?
Well, in 2021 they have launched their brand-new copy-social trading platform. Within the platform you will be able not only to interact with other traders publicly, but also privately by creating groups or chatting 1 on 1 with other traders.
Rounding off our selection of the best Darwinex alternatives is Collective2. They have a number of key differences which make them more attractive to potential traders. Foremost among these is that they are US-Based and NFA regulated. This means they are perfect for US traders involved in copy and social trading. Another major differing factor is that they do not charge any fees. Instead, all fees are replaced by a range of 4 different plans you can choose. Each has a stand-alone monthly price of between $49 and $299. A 15% saving is available if you opt for their annual plan.
With Collective2, you can only copy strategies that are set out by the broker within their platform, although the effectiveness of these can be rated by other users, and the number of these potential strategies you have access to increases depending on your price plan. This can be a great option for copy or social traders prefering to choose from a set plan.
And that’s the end of our Darwinex alternatives list.
Each platform has their own advantages and disadvantages, so it’s always best to consider your individual needs. For a wider range of brokers and options, check our best social trading platform article.