Duplitrade

GENERAL INFORMATION AND REGULATION

DupliTrade is a European-based automated trading service provider for Forex and cryptocurrency trading that was founded in 2017. With DupliTrade, you will have access to the best-licensed Forex brokers since there are many brokerage firms that have DupliTrade integrated as their auto trading platform.

The goal of DupliTrade is to turn into the worlds best-automated trading platform by providing traders with a factor that no other trading service provider can provide. This factor is providing a database of experienced strategy providers for traders to easily copy their trading strategies, making the trading world simpler.

DupliTrade aims to bring trading experience and the knowledge of professional traders to anyone, especially novice traders who do not know where to start. Trading requires a level of practice and experience that takes up a large amount of time and effort. However, despite the challenges, there are traders who have mastered the art of trading in financial markets.

It is safe to say that the DupliTrade is one of the most professional Forex robots we have reviewed in a long time.

When comparing and choosing an automated trading system, the first item we look for is the ability to choose a licensed broker, and the second thing we look at are the settings available for us to configure. DupliTrade have access to licensed brokers from all over the world, and this platform is very open about its processes. The range of brokers on this platform is a first for the trading world, which is why this automated trading platform is a big deal.

The software currently offers seven Strategy Providers; Legacy, Apollo, Ruby, Carbon, Emerald, Pearl, Amber and Stox. You can see in the screenshot below, detailed performance information about each one of the strategy providers. When you dig deeper into each strategy, they are very transparent with information about profits, loss, max draw down, and more performance details.

DupliTrade is operated by DT Direct Investment Hub Ltd. Official Address is: 74 Archiepiskopou Makariou C, Amaranton Court, 2nd Floor, Mesa Geitonia, Limassol, Cyprus. They are a licensed and regulated Cyprus Investment Firm (CIF) by the Cyprus Securities and Exchange Commission (CySEC) with license number: 347/17.

ACCOUNT AND LEVERAGE

In order to become a member with DupliTrade, the minimum initial required in your brokerage account must be 5,000USD or its currency equivalent. This means that your trading account with your Forex trading broker must have at least 5,000USD or above so you can be eligible to be a part of DupliTrade and have access to its services.

However, you do have the option of joining a free trial to try out DupliTrade, a Demo Account. The Demo Account is a hands-on approach on how you can use DupliTrade and watch the DupliTrade auto trading platform in action without facing any financial risk.

HOW DOES DUPLITRADE WORK？

DupliTrade connects strategy providers with clients that have an account with one of their partner brokers. There are currently 12 approved brokers, include major regulated firms like AvaTrade and Pepperstone.

After registering with DupliTrade and receiving login details, clients can link their new copy trading account with their standard retail trading account, often through MetaTrader 4 (MT4). Users can then pick the strategy providers they want to copy and decide on their preferred level of exposure before trading. Traders can monitor profits and analyze performance in real-time.

This platform is browser-based, so no download is required. DupliTrade does not offer a mobile app at present. Clients can manually execute orders and can adjust the trades placed by their chosen strategy provider via the MT4 platform. Users can also choose the proportion of trades they wish to copy, e.g. duplicating 100% of the experts positions vs 25%.

PROS OF TRADING WITH DUPLITRADE

There are several advantages to copy trading with DupliTrade:

• CySEC regulation so no scam warning

• Thorough auditing process for providers

• Detailed profile with trading statistics for each provider

• Powerful simulator

CONS OF TRADING WITH DUPLITRADE

• Limited number of strategy providers

• Predominantly forex trading

• $5,000 minimum deposit

DUPLITRADE FEES

DupliTrade does not charge monthly fees for its automated copy trading service. Instead, the company receives an Introducing Broker (IB) fee directly from the brokers. However, traders must deposit a minimum of $5,000 into their brokerage account to use the platform.

TRADING PLATFORM

As a member of the AvaTrade Group, we offer a unique platform developed to enable transparent price delivery and order execution to connect to AvaMT4 and deliver trading signals.

STRATEGY PROVIDERS

The DupliTrade platform offers copy trading of forex and CFDs in stocks, commodities, and indices. However, the majority of current providers trade forex exclusively.

DupliTrade has a rigorous three-step audit process for its strategy providers, and at present 11 are available to clients. The company website offers a basic profile for each provider detailing:

• Markets and instruments traded

• Net profit/loss percentage, overall profit, and initial balance

• Trading method (e.g. automated or semi-automated) and type (e.g. technical or trend follow)

• Trading frequency and style (e.g. swing or trend)

• Win percentage, leverage, and profit factor

• Weeks traded and follower count

The technical trading statistics for each strategy provider are also available:

• Full trading history plus balance and equity

• Number of closed, winning and losing trades

• Profit/trade ratio, average profit and losing trade

• Gross profit and loss, maximum drawdown

• Best and worst trades and average trade time

SIMULATOR

The platform website offers a simulator that allows clients to test the past performance of strategy providers. Selecting a funding amount, time frame, and provider will generate an expansive report with statistics including monthly P/L and balance over time, total profit, and the best performing provider in the specified simulation.

CUSTOMER SERVICE

DupliTrade has a very accommodating and helpful customer service staff, but it does not have the human touch since most of its communication methods are online. Despite only having phone support as human-to-human interaction, online means of communication give accurate responses at a fast pace. You can also interact with the customer service in different languages, such as: English, Spanish, Chinese, Italian, French, Arabic, and Russian.