What is Copy Trading?

Copy trading, sometimes called mirror trading, is the process of utilizing algorithmic software to mimic the trading strategies and habits of another trader or group of traders. Many users pay for services that allow them to copy the trades that a real trader makes, with the hopes of obtaining higher levels of profitability. Copy trading can be utilized for most market types to trade any number of assets, and can be used via a mobile device, computer, or through more complex, expensive combinations of computing hardware and software (e.g., by an institutional investment firm).