Even though crypto was introduced to us back in 2009, the recent price surge of assets got the attention of millions of people. Today, crypto trading requires a lot of effort and if anything doesn’t go as planned, you can end up losing a huge portion of your equity.
However, there is something called “copy trading” which can really come in handy if you are a beginner. Instead of having to calculate everything and come up with your own strategy, copy trading allows you to copy professional traders. In this article, we take a look at some of the best crypto copy trading platforms in Australia.
Top 7 Copy Trading Platforms In Australia - Tested and Reviewed in 2023
Here at Debt Bombshell, we regular test out crypto exchanges and use our research to show you the best platforms available. We update these pages on a frequent basis so that our readers have the most up to date information.
- 1Bybit - Best copy trading platform in Australia
- 2MEXC - Best for range of coins (1,520+)
- 3eToro Australia - Best for beginners to crypto
- 4Pionex - Best for free trading bots
- 5Gate.io - Large range of 1,000+ cryptocurrencies
- 6Shrimpy - Excellent copy trading and portfolio management tool
- 7Kryll - Over 280 verified strategies to copy
What is Crypto Copy Trading?
As the name suggests, copy trading allows you to copy strategies, trades, and market assessments of other, more experienced traders. As such, any user can make successful trades, even those with zero experience in this industry
To make things even better, copy trading doesn’t mean you have to monitor other traders constantly. Everything works on autopilot and the only thing you need to do is select the desired trader and the amount you want to trade. After that, you can just leave it until the moment you decide to withdraw the funds.
Best Copy Trading Platforms in Australia - Reviews
#1. Bybit – Best copy trading platform in Australia:
Bybit, our #1 cryptocurrency exchange supports over 280+ coins and has some of the lowest trading fees. More importantly, Bybit allows you to copy trade. The platform claims that around 150,000 users have joined their copy trading program to date. You can customise the trades any way you want and set any parameters after selecting the trader.
#2. MEXC – Best for range of coins (1,520+):
MEXC is one of the most popular crypto trading platforms, and it also offers copy trading. When searching for traders on MEXC, you can filter and sort them by ROI, number of followers, total profit, win rate, etc. With this feature, you can easily find the appropriate trader based on what you think is most important.
What’s even more impressive is that MEXC offers over 1,520+ cryptocurrencies and over 2,100 trading pairs. It offers a bigger range of options than any other crypto exchange platform in the world.
#3. eToro Australia – Best for beginners to crypto:
eToro Australia is the most popular exchange for beginners who want to use copy trading. This platform offers its services to almost every country in the world and even offers other markets such as forex and stocks. There is also a focus on social trading, where you can interact with other traders, learn from them, ask questions, and comment on their posts. Of course, stemming from this social aspect is copy trading, which is one of their most popular features.
There are no hidden fees in eToro’s copy trading feature. All you need to pay is the principal trader’s commission. eToro has outstanding customer support and a beginner-friendly interface.
#4. Pionex – Best for free trading bots:
Pionex is a great choice as it offers more possibilities than most copy trading platforms. You can copy successful traders as you would on Bybit and eToro. However, you can also copy the parameters of successful bots or re-create them entirely.
This is one of the reasons Pionex is considered unique. It offers 16 free trading bots to automate your strategy. You can select one of these, or even create your own bot with desired parameters, customising it exactly to your trading style and strategy.
#5. Gate.io – Large range of 1,000+ cryptocurrencies:
If you are looking to purchase crypto, trade, or copy trade it, you can do all of that on Gate.io. That is why this platform is often considered an all-in-one platform with dozens of options, significantly improving your trading experience. It offers an extensive line of traders you can copy, and each one has a particular fee charged on each trade.
All the traders on the platform come with their total returns, AUM (Assets Under Management), winning rate, minimum deposit amount, and number of trades executed. You can precisely choose the one you need based on what you find most essential.
#6. Shrimpy – Excellent copy trading and portfolio management tool:
Shrimpy is different from most exchange platforms. It is actually a crypto portfolio management tool that allows traders to connect to their 30 supported exchanges and wallets and access all of their coins in one place. Once connected, the whole trading process can be automated by either copying professional traders or bot trading.
For bot trading, Shrimpy provides a wide variety of tools to create and customise strategies for your bot. If you decide to go with copy trading, you can choose the best strategy from a broad range of experienced professionals.
#7. Kryll – Over 280 verified strategies to copy:
Although Kryll is not an exchange, it is a crypto bot trading software that is primarily focused on efficiency and automation. It is considered one of the most feature-filled and most advanced strategy editors. Most of its features are based on the effortless drag-n-drop mechanism.
Once you have registered on the platform, you can access over 280 verified strategies to automate trading. Kryll also has a very reasonable pricing structure, charging only 1% of the total traded capital.
These are the best crypto copy trading platforms you can find in Australia in 2023. Once you have evaluated your preferences and chosen the ideal platform, you can start copy trading.
However, keep in mind that copy trading comes with its own risks. Never invest more money than you are prepared to lose.