There are several crypto trading platforms out there, but choosing which to use can be challenging. It can even be more challenging for beginners, but depending on what they wish to achieve, they can easily filter through and get the kind of exchange they need.

If the goal is to learn crypto trading while making some profit, social trading may be an excellent option to consider. Not every exchange offers this service, but we list the best ones to use here.

What Is Crypto Social Trading?

Social trading or copy trading is a kind of crypto trading that allows less experienced traders to copy the trades of more experienced traders. This will enable them to profit if the people they copy also profit from a trade. However, if the people they're following lose on a trade, they also lose.

If you're a brand new crypto trader, you can learn more about what crypto social trading is and how it works before you go on. Having said that, the following are the best platforms for carrying crypto social trading you should check out.

1. eToro

For anyone who has been in crypto for a while, the name eToro should be familiar. It is the leading social trading platform for crypto traders and remains unmatched to this day. Headquartered in Israel, the exchange allows traders from all over the world to use its platform for trading crypto in different ways.

Using the exchange's CopyTrader feature, you can replicate the trades of other traders in real-time, thus reducing your chances of losing a trade and increasing your chances of winning. You basically trade like a top trader with this feature and then learn how to trade in the process.

This feature is for both beginners just entering the space and experienced traders who may not have time to watch the markets themselves and are willing to pay other traders to be their eyes.

You won't be charged any extra fees, and there are no hidden costs for copying the trades of others. eToro's Popular Investor Program pays the copied traders directly.

2. CopyMe

CopyMe is another top platform for social trading. Unlike eToro, it is solely dedicated to crypto social trading. You can copy the trades of more than one person at a time and share your portfolio into several bits to copy each trader.

This diversification feature enables you to spread your trades and reduce the chances of losing much in a single trade.

Orders are executed in split seconds, and you retain full control of your funds on your exchange. CopyMe only connects to the exchange's API and executes orders using the funds you already hold on the exchange.

After creating an account on the platform, you only need to set up your exchange keys, assign the percentage you want to each trader if they are more than one, and set Live Trading to True. You don't need to use codes or manually input signals, so this is suitable for people with zero coding knowledge.

The platform executes trades automatically, although you can pause your follow and switch traders anytime. Each expert trader has a profile page you can read before selecting who to copy, even though all selected experts must have a track record of successful trading to qualify.

3. MoonXBT

MoonXBT refers to itself as the first-ever social trading platform. It also allows copy traders to copy more than one trader at a time by splitting their portfolio. If you copy an expert trader and end up with a successful and profitable trade, part of your profit will be used to reward the person whose trade you copied.

You can modify the settings for your copy trading and close positions whenever you want. The traders you copy can get up to 10% of your profit as their reward since, unlike eToro, MoonXBT doesn't pay them directly.

MoonXBT also allows you to trade with leverage, depending on the trading pair. The maximum leverage is for BTC pair and is 150x. The exchange is based in Cambodia and regulated by the Securities and Exchange Regulator of Cambodia (SERC).

4. Coinmatics

Coinmatics is another platform solely dedicated to copy trading. You can copy traders on Coinmatics when they connect their accounts on exchanges and make their crypto trading strategy available for copying. Investors who wish to copy trades are charged a fixed rate determined solely by the trader, who may also decide to provide their strategies free of charge.

Apart from copying trades automatically this way, investors can also receive signals through the telegram group and then enter them manually to execute trades on their exchanges. Supported exchanges include Binance, OKX, Bybit, and FTX.

Traders earn directly from subscriptions to their strategies and signals, and Coinmatics takes a commission that varies based on each profit a trader makes from subscriptions. Apart from traders' subscriptions, Coinmatics also has subscription plans which are either monthly or yearly.

The first paid plan is Lite, which costs $15 per month for a monthly subscription and $10.50 per month for annual payments. The second paid plan is Premium, which costs $30 per month for a monthly subscription and $21 per month for yearly subscriptions.

Coinmatics has its headquarters in the British Virgin Islands, but anyone from around the world can use it for copy trading.

5. Bybit

Bybit, like eToro, is a regular crypto exchange that also provides copy trading services. You can automatically copy the trades of pro traders and make a profit on autopilot. The traders, in return, get 10% of your trading profit as compensation.

There are up to 15 trading pairs for copy traders to trade, made up of highly liquid assets. Once you identify a trader you wish to copy, you only need to set your trading preferences, such as the leverage you want to use, which can be up to 100X, and how much you intend to invest.

Trades are then automatically executed immediately after your chosen trader places their trade, and you will make profits if they also profit. Bybit is a global exchange located in Singapore, and investors from most countries can access its services.

You Can Start Social Trading Today

Now that you know the top platforms for social trading, you can start using any number of them immediately. It doesn't matter how experienced you are as a trader or if you don't know how to code.

If you wish to maximize your trading gains and maybe learn how to trade in the process by observing the pros, any of these platforms will serve you well.