DupliTrade Review – Compare Best Copy Trading Services 2023

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Below, you can find a detailed look at the opportunities provided by DupliTrade Copy Trading.

Follow this link to read more reviews on various social and copy trading services. 

DupliTrade is an automated online trading platform that allows investors to duplicate (copy) the trading strategies of advanced traders. The platform is not integrated with a specific broker; instead, they partner up with twelve different brokers.

In our DupliTrade review, we look at how the platform works and how you can set a profile and the overall customer experience.

DupliTrade Overview

DupliTrade is an online copy trading platform operated by the Cyprus Investment Fund DT Direct Investment Hub Ltd. The platform was launched in 2017, and it works alongside various brokers, including AvaTrade, ICMarkets and Pepperstone. DupliTrade offers access to a range of trading instruments in Forex and Cryptocurrencies.

How DupliTrade Works?

DupliTrade aims to provide a simple yet effective way for investors to tap into the financial markets without having in-depth knowledge of trading. The platform focuses on automated copy trading based on an AI algorithm.

Once you create a profile, you can select three duplication systems, which vary according to the lot size traded. Then the platform will provide a list of brokers you can open your account with. After your account is open, you will get access to various strategy providers that you can copy.

READ ALSO: What is copy trading, and is it right for you?

The list of all strategy providers is available on the front page, and you can review their performance data by simply selecting anyone from the fall-down list. Once you choose the strategy providers and start copying them, you can follow your account’s movement in real-time.

This process seems fairly straightforward. However, what our review shows, there are several aspects that need further clarification. What is the process of selecting which broker your account will be set up with? Are they any setup fees?

According to their FAQ section, DupliTrade doesn’t charge for setting up a profile. However, nothing is mentioned if the brokers they partner up with will charge any fee. Quite similar is the situation with the withdrawal policy.

On the DupliTrade website is noted that the withdrawal is possible partially or entirely from your brokerage account. Again, no conditions are mentioned, and we hope this is because there is none, not because there are some hidden fees.

How To Start With DupliTrade?

DupliTrade provides a Free Demo Account which, after you get familiar with the services offered by the platform, you can upgrade to a real live account. For those who wish to start directly, there is an option to create a DupliTrade profile or use your Google account to join.

The next step is setting up a brokers account and placing your deposit. Here comes a negative point, as DupliTrade sets up a minimum initial deposit to your brokerage account of 5,000 USD or the equivalent amount in your currency.

This, in our opinion, is quite a high deposit level, as most of the social trading platforms have set their starting bar at 200 USD.

DupliTrade is an online web-based platform, and it is not available as a desktop download or mobile app. On one side, this is suitable as it will save place on your laptop/phone/tablet. However, on the other side, this could be a little bit inconvenient if you have to log in each time you go online.

DupliTrade Customer’s Experience

Our DupliTrade review showed that via the platform, customers could rely on a partnership with various regulated brokers. They can select and copy a range of strategy providers using a cutting-edge AI automated algorithm. However, investors with no or limited trading experience might have some difficulties understanding the graphics provided or the complicated process of setting up an account.

DupliTrade Review Verdict:

Pros:

► Partnership with a various regulated broker

► Wide range of Forex instruments

► Detailed profile on each strategy provider

► Trading Simulator

Cons:

► High minimum deposit level – 5000 USD

► Limited trading assets – predominately Forex

► Limited information about fees and withdraw policy

DupliTrade Scam or Legit?

DupliTrade is operated by DT Direct Investment Hub Ltd., which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). Additionally, the company applies strict audits and partners with only regulated brokers.