The market size of the industry stood at $2.2 billion by the end of 2021.
However, are market conditions curtailing copy trading?
Analysis
Copy trading has become one of the most sought-after services in the retail trading industry. It was popularized in the early 2010s by a handful of platforms like eToro, but now almost every well-known broker offers copy trading services.
However, the concept of copy trading came from the ancient internet era’s social trading, when expert traders shared their trading strategies on forums and other platforms. Copy trading only streamlined that approach with technology, allowing rookie traders to execute the trades of experts instantly.
Sam Rudnick, eToro's Head of Popular Investor Program
“Copy Trading allows our users to diversify across asset classes or instruments they may be unfamiliar with by copying a more experienced investor,” said Sam Rudnick, Head of eToro’s Head of Popular Investor Program.
The concept was a hit as the industry witnessed an influx of more and more retail traders. Also, it created another income stream for expert traders. eToro alone has more than 2,200 expert investors whose portfolio can be copied, out of which, 12 have over $10 million copying their strategies and portfolios.
The overall social/copy trading industry is also massive. It is expected to grow at a compounded annual rate of 7.8 percent, reaching a market size of $3.77 billion by 2028, according to a report by The Insight Partners. The market size of the industry was at $2.2 billion at the end of 2021.
However, many industry experts believe that the popularity of copy trading is declining.
“The boom of the ‘Reddit’ type copy trading has certainly started to slow down,” Nick Battista, Market Strategist and Finance Expert at tastytrade, told Finance Magnates.
Nick Battista, Market Strategist and Finance Expert at tastytrade
“I believe part of the reason for this slow down can be attributed to the market conditions, less instant gratification, and certainly more 'pain trade' via the sideways/down movement in the market. Seasonality also plays a role, generally, market liquidity decreases into the summer months as more casual traders tend to move on to other activities.”
Copy Trading's Broad Appeal
Copy trading received can be used by anyone, be it a novice trader or an expert. While rookies can copy someone else's strategies to gain some possible profits and learn about trading, experts can also implement someone else's strategies, after all, there is always a better trader.
Furthermore, expert traders, if they meet the stringent criteria of the copy trading platforms, can share their strategies to earn a steady income if they successfully gain followers.
High Flying Copy Trading Platforms
Despite the bearish predictions, the copy trading platforms are performing very well. Though the platforms do not share specific numbers, their overall performance remains impressive.
NAGA, a German platform offering copy trading services, has been posting record numbers for several quarters. The company ended 2021 with €55.3 million in revenue and generated another €18 million only in the first quarter of 2022.
“We are happy to see a dynamic start into 2022 and NAGA continuing steady towards its targets,” the CEO of NAGA, Benjamin Bilski said earlier. The company is now focusing on gaining more regulatory licenses and is betting big on cryptocurrency services.
Another popular copy trading platform, ZuluTrade was acquired by the Finvisia Group last December for an undisclosed sum. Now, the platform is focused on expansion, gaining regulatory licenses, and adding features.
Copy Trading is Not Without Risk
According to ZuluTrade, only 63 percent of the traders who copied someone’s trading strategies profited between September 2021 and August 2022. That figure is much better than CMC Markets and Pepperstone, which reported 78 percent and 81.18 percent, respectively, of their clients, lost money trading CFDs.
Brokers also promote copy trading as very safe and suitable for new traders. However, there are always risks.
“Novice traders tend to look toward absolutes, 'what’s the BEST trade' or 'what’s the BEST way to manage this position rather than the idea generation follow/copy trading provides,” Battista added.
“After a couple of wins/losses I think most novice traders start to understand that the market is filled with imperfect information, and ultimately following someone else may not necessarily fit their own risk tolerance, capital limitations and directional assumptions. From there, they realize the concepts and strategies used are more important than the actual picks/trades and can form their own assumptions, and be more selective with which trades to follow or copy.”
Another, risk of copy trading is squeezing market liquidity. "If a copy trade generates a large number of trades in the same direction, then this can cause a gap in prices and slippage for investors," said Harry Turner, founder of The Sovereign Investor.
Regulations Can Kill Copy Trading
Regulations always remain a major concern in a high-risk industry like retail OTC derivative trading. At present regulators are considering copy trade as normal trading activities.
“We classified copy trading as portfolio or investment management where no manual input is clear from the account holder. This entails standard regulatory obligations for authorized management,” the FCA stated earlier.
However, if some of the top regulators like the FCA, CySEC or ASIC change their stance and consider copy-trading strategy providers as unregulated investment managers then it can break the entire industry.
Charles Qi, founder and CEO of StockPick.
“It is important for copy trading platforms and strategy providers to stay outside of the boundaries of regulated investment management as most copy trading services would not be economically viable if regulated as registered investment managers,” said Charles Qi, the Founder and CEO of StockPick.
Despite all the risks and market conditions, copy trading remains popular among retail traders. The performance of the copy trading platforms over the recent years clearly projects the popularity of the services. And, with an influx of new traders in the market, this niche industry is only expected to grow in the future.
Copy trading has become one of the most sought-after services in the retail trading industry. It was popularized in the early 2010s by a handful of platforms like eToro, but now almost every well-known broker offers copy trading services.
However, the concept of copy trading came from the ancient internet era’s social trading, when expert traders shared their trading strategies on forums and other platforms. Copy trading only streamlined that approach with technology, allowing rookie traders to execute the trades of experts instantly.
Sam Rudnick, eToro's Head of Popular Investor Program
“Copy Trading allows our users to diversify across asset classes or instruments they may be unfamiliar with by copying a more experienced investor,” said Sam Rudnick, Head of eToro’s Head of Popular Investor Program.
The concept was a hit as the industry witnessed an influx of more and more retail traders. Also, it created another income stream for expert traders. eToro alone has more than 2,200 expert investors whose portfolio can be copied, out of which, 12 have over $10 million copying their strategies and portfolios.
The overall social/copy trading industry is also massive. It is expected to grow at a compounded annual rate of 7.8 percent, reaching a market size of $3.77 billion by 2028, according to a report by The Insight Partners. The market size of the industry was at $2.2 billion at the end of 2021.
However, many industry experts believe that the popularity of copy trading is declining.
“The boom of the ‘Reddit’ type copy trading has certainly started to slow down,” Nick Battista, Market Strategist and Finance Expert at tastytrade, told Finance Magnates.
Nick Battista, Market Strategist and Finance Expert at tastytrade
“I believe part of the reason for this slow down can be attributed to the market conditions, less instant gratification, and certainly more 'pain trade' via the sideways/down movement in the market. Seasonality also plays a role, generally, market liquidity decreases into the summer months as more casual traders tend to move on to other activities.”
Copy Trading's Broad Appeal
Copy trading received can be used by anyone, be it a novice trader or an expert. While rookies can copy someone else's strategies to gain some possible profits and learn about trading, experts can also implement someone else's strategies, after all, there is always a better trader.
Furthermore, expert traders, if they meet the stringent criteria of the copy trading platforms, can share their strategies to earn a steady income if they successfully gain followers.
High Flying Copy Trading Platforms
Despite the bearish predictions, the copy trading platforms are performing very well. Though the platforms do not share specific numbers, their overall performance remains impressive.
NAGA, a German platform offering copy trading services, has been posting record numbers for several quarters. The company ended 2021 with €55.3 million in revenue and generated another €18 million only in the first quarter of 2022.
“We are happy to see a dynamic start into 2022 and NAGA continuing steady towards its targets,” the CEO of NAGA, Benjamin Bilski said earlier. The company is now focusing on gaining more regulatory licenses and is betting big on cryptocurrency services.
Another popular copy trading platform, ZuluTrade was acquired by the Finvisia Group last December for an undisclosed sum. Now, the platform is focused on expansion, gaining regulatory licenses, and adding features.
Copy Trading is Not Without Risk
According to ZuluTrade, only 63 percent of the traders who copied someone’s trading strategies profited between September 2021 and August 2022. That figure is much better than CMC Markets and Pepperstone, which reported 78 percent and 81.18 percent, respectively, of their clients, lost money trading CFDs.
Brokers also promote copy trading as very safe and suitable for new traders. However, there are always risks.
“Novice traders tend to look toward absolutes, 'what’s the BEST trade' or 'what’s the BEST way to manage this position rather than the idea generation follow/copy trading provides,” Battista added.
“After a couple of wins/losses I think most novice traders start to understand that the market is filled with imperfect information, and ultimately following someone else may not necessarily fit their own risk tolerance, capital limitations and directional assumptions. From there, they realize the concepts and strategies used are more important than the actual picks/trades and can form their own assumptions, and be more selective with which trades to follow or copy.”
Another, risk of copy trading is squeezing market liquidity. "If a copy trade generates a large number of trades in the same direction, then this can cause a gap in prices and slippage for investors," said Harry Turner, founder of The Sovereign Investor.
Regulations Can Kill Copy Trading
Regulations always remain a major concern in a high-risk industry like retail OTC derivative trading. At present regulators are considering copy trade as normal trading activities.
“We classified copy trading as portfolio or investment management where no manual input is clear from the account holder. This entails standard regulatory obligations for authorized management,” the FCA stated earlier.
However, if some of the top regulators like the FCA, CySEC or ASIC change their stance and consider copy-trading strategy providers as unregulated investment managers then it can break the entire industry.
Charles Qi, founder and CEO of StockPick.
“It is important for copy trading platforms and strategy providers to stay outside of the boundaries of regulated investment management as most copy trading services would not be economically viable if regulated as registered investment managers,” said Charles Qi, the Founder and CEO of StockPick.
Despite all the risks and market conditions, copy trading remains popular among retail traders. The performance of the copy trading platforms over the recent years clearly projects the popularity of the services. And, with an influx of new traders in the market, this niche industry is only expected to grow in the future.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Tiger Brokers Parent Posts Record Revenue as Client Assets Hit $61B
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
