Leveraged copy trading is probably your next step if you've already tried copy trading. These are the best crypto trading platforms that let you trade crypto with leverage.
But first, a cautionary warning.
Your primary responsibility with leveraged copy trading is to check the traders’ performance. Keep in mind that traders make money from their followers, so they may not close losing trades so that their performance looks better.
When you’re trading with leverage, market swings are exacerbated. When I first tried copy trading with leverage — I was using Bybit at the time — I started with 3x leverage. Things were going well until I decided to YOLO with 10x leverage. This, combined with a market-wide downturn, destroyed my position overnight. So, be careful. When we say to only ever trade with money you can afford to lose, we mean it.
Want to trade the crypto markets with a bot? Check out our review of the best crypto trading bots.
Bybit
Bybit makes crypto copy trading easy and smooth by bringing together experienced principal traders and newbies. MMCrypto, an influential crypto trader on YouTube, is a vocal fan of Bybit. We use it too, albeit with smaller trades than him.
That being said, there are a couple of frustrating limitations. Bybit's maximum leverage is 10x, which is much lower than what's available elsewhere. Additionally, I also found it frustrating that it was only possible to follow one trader at a time.
Pros
- Leverage up to 10x on copy trading, which is lower than elsewhere. Not necessarily a bad thing.
- Principal traders are heavily vetted before joining, keeping the standard high.
- Select a principal trader to copy based on past 7 or 30-day performance.
- 15+ crypto trading pairs.
Cons
- Follow one trader at any given time, which is quite limiting.
- Bybit's app does not do a good job of integrating their copy trading service.
- Many top traders are inaccessible to new users due to a cap on follower numbers
- Somewhat quirky UX, requiring assets to be moved around between spot, derivatives, etc.
- Unavailable in the U.S.
On website
PrimeXBT
Powered by Covesting's platform, PrimeXBT is a popular option for crypto traders. On PrimeXBT, investors can copy trade a range of asset classes, including cryptocurrencies, forex, stocks, and commodities.
Trade with up to 100x leverage, which is higher than what's on offer on other platforms. Users can access all markets via PrimeXBT’s free mobile trading app.
Pros
- Leverage available up to 100x.
- Access to trade on international markets with Bitcoin, Ethereum, or USDT.
- Use a single account for trading in multiple assets, including crypto.
- Stake cryptocurrencies to earn up to 10% annual percentage yield (APY).
- Demo mode for beginners to trade without risking their money.
- Intuitive user interface with customizable trading charts and analysis with TradingView.
- Low trading fees.
Cons
- Account funding methods are restricted to cryptocurrencies.
- Restricted in the US, Canada, Japan, and other countries.
- Supports a limited number of cryptocurrencies.
- Trading options for crypto-traders are limited.
BingX
BingX offers an unrivaled copy-trading experience for new and seasoned crypto copy traders and other crypto traders. Registered in Singapore and accessible in most nations worldwide, the BingX platform to buy and sell cryptocurrencies is well known for its extensive support and features for copy-trading. BingX leverage limits vary depending on the products and currencies, with a market-leading range from 35-150x. For example, you can leverage BTC and USDT contracts up to 150x and Ethereum up to 100x.
Users can set maximum amounts and daily limits for specific copy trades, enabling them to restrict potential losses to some degree. Experienced traders appreciate BingX’s Perpetual Swap feature, unavailable on most other platforms since it solves instances in which users may miss market fluctuations by enabling limit orders and margin trades to run around the clock.
Pros
- Leveraged trading up to 150x for cryptocurrencies exceeds industry averages.
- Extensive fiat currency support, including USD, AUD, EUR, KRW, THB, TWD, BGN, BRL, CAD, CHF, COF, and more.
- Clear, easy-to-read analytics and statistics for choosing which trader to follow.
- Demo mode available for trading practice.
- Perpetual Swap enables limit orders and margin trades to run around the clock.
- Very low commission structure.
- No KYC is required to begin trading.
- 24/7 customer support in 10 languages.
Cons
- BingX is not available for US users.
- Users report below-par quality of customer service.
ZuluTrade
ZuluTrade, a Finvasia Group Company, was founded in 2007 and is headquartered in Athens, Greece. As a pioneer in the copy trading space, ZuluTrade is a popular choice for copy traders.
Copy trading with ZuluTrade works a little differently since it provides a platform that connects with partner brokers like AvaTrade, Vantage, and IC Markets. Therefore, you follow the trader on ZuluTrade and the trades are executed with leverage on the broker. This is how most trading bots work.
Choosing who to follow is relatively straightforward since everything is laid out clearly. Interestingly, each trader has a recommended investment amount, which is very informative.
Pros
- Start copy trading with as little as $100.
- Unlimited timed demo accounts to practice risk-free.
- Dedicated crypto copy trading with support for other asset classes.
- Wide selection of leading signal providers (that you can copy).
- Integrates with top brokers including IC Markets, AvaTrade, BlackBull Markets, and Vantage.
- 24/7 customer support.
Cons
- Fee structure lacks transparency.
- Your broker determines the minimum deposit.
- Available copy trading assets depend on your broker, not ZuluTrade.
Gate.io
Gate.io, now a well-known crypto exchange, was founded in 2013. It is globally available, including in the U.S (many on this list aren't). It offers a fantastic array of 1,600+ crypto trading pairs for copy trading. Leveraged cryptocurrency copy trading is just one of its attractive features.
While their trading strategy bots may be of primary interest to copy traders, they also have an NFT marketplace and various ways to earn a passive income, such as liquidity mining.
Pros
- Trade with up to 100x leverage.
- Very large selection of trading pairs.
- Easy-to-use copy trading features.
- Established trading record with a solid overall reputation.
Cons
- User interface and mobile app need improvement.
- Trading fees, while reasonable, are not the lowest.
