FX Blue is one of the most popular trade copiers and trading tools for MetaTrader 4 and MetaTrader 5. With over 200,000 users worldwide, FX Blue has become the go-to solution for traders looking to copy signals, track performance, analyze trades, and automate their trading strategies.
But FX Blue has some stiff competition in the space. Trading tools like MyFXBook, NinjaTrader, TradingView, and ZuluTrade all offer similar features and integrations. So what makes FX Blue stand out from the pack?
In this comprehensive review, we’ll compare FX Blue side-by-side with alternative trade copiers and trading tools. We’ll highlight the key differences, pros and cons, and top features of each platform. By the end, you’ll understand the 5 main reasons we rate FX Blue as the #1 trade copier and trading tool in 2023.
Outline of Topic Covered in This Review:
Introduction
- Overview of FX Blue and competition
- Purpose and scope of review
- Methodology and criteria for comparison
- Summary of key findings and recommendations
FX Blue Overview
- Company background and history
- Products and services offered
- Key features and functionality
- Pricing and account options
- Ease of setup and use
Competitor Overview
- MyFXBook
- NinjaTrader
- TradingView
- ZuluTrade
Criteria for Comparison
- Features
- Integrations and compatibility
- Customization and flexibility
- Reporting and analytics
- Customer support
- Pricing and value
FX Blue vs. MyFXBook
- Feature comparison table
- Pros and cons of each platform
- Key differences and use cases
- Summary of which platform we recommend and why
FX Blue vs. NinjaTrader
- Feature comparison table
- Pros and cons of each platform
- Key differences and use cases
- Summary of which platform we recommend and why
FX Blue vs. TradingView
- Feature comparison table
- Pros and cons of each platform
- Key differences and use cases
- Summary of which platform we recommend and why
FX Blue vs. ZuluTrade
- Feature comparison table
- Pros and cons of each platform
- Key differences and use cases
- Summary of which platform we recommend and why
5 Key Reasons We Rate FX Blue #1
- Seamless integration with MetaTrader 4 & 5
- Customizable and flexible trade copying
- Comprehensive trading analytics and reporting
- Intuitive dashboard and easy to use
- Great value and pricing options
Conclusion and Final Recommendation
- Summary of key findings from platform comparisons
- Reiteration of top 5 reasons FX Blue stands out
- Final recommendation of FX Blue as best overall platform
FX Blue Overview
FX Blue was founded in 2009 by a team of expert Forex traders and programmers. Their goal was to create an integrated suite of tools to help traders copy signals, analyze performance, track results, and automate their trading strategies through MetaTrader 4 and 5.
Over the past decade, FX Blue has expanded into one of the most widely-used trade copiers globally, with over 200,000 users spanning 150 countries. Their platform integrates seamlessly with MT4 and MT5, the most popular retail trading platforms.
Key Products and Services
FX Blue offers four main products:
- FX Blue Labs – Trade copier and account mirroring tool
- FX Blue MT4 – Trading analytics, statistics, and reporting for MetaTrader 4
- FX Blue MT5 – Trading analytics, statistics, and reporting for MetaTrader 5
- FX Blue Print – Creates, optimizes, backtests, and automates trading strategies
In addition to these main products, FX Blue also offers:
- Forex Signals – Access to free and paid signal providers
- FX Blue Community & Blog – Active community forums and trading education resources
- Pricing – Packages range from free to $24.95/month for full functionality
Key Features and Functionality
FX Blue provides an extensive set of tools and features for every aspect of trading, including:
Trade Copying
- Mirror trades from MT4 to multiple accounts
- Use advanced allocation algorithms like lot size scaling
- Optional trade filtering and smoothing
Performance Tracking
- Detailed trading statistics and metrics
- Advanced reporting on profitability, drawdowns, distributions
- Benchmark against currency pairs or time periods
Trade Analysis
- Graphs of account balance, equity, trades etc.
- Integrated economic calendar and daily news
- Scanning for chart patterns and technical indicators
Strategy Creation
- Optimizable backtester to refine strategies
- Automated trading based on technical indicators
- One-click trade placing, trailing stops and exits
- Follow top-ranked investors and auto-copy their trades
- Leaderboard ranks investors by return, drawdown, risk metrics
This combination of trade copying, analytics, automation, and social tools in one integrated platform gives traders an end-to-end solution for executing, managing, and improving their trading strategies.
Ease of Use
FX Blue stands out for its intuitive interface and ease of use. Once logged in, you have access to all features from a central dashboard. Key settings like copy ratios and allocation methods can be configured in just a few clicks.
The dashboard gives you an overview of account stats, active signals, leaderboard, news, and more. Tabs on the left provide quick navigation between trade copying, analytics, automation, and other tools. Even for beginners, FX Blue has a gentle learning curve.
Pricing & Accounts
One of FX Blue’s standout qualities is offering free functionality for traders just getting started. Their pricing options are:
- Free account – Access to FX Blue Labs trade copier, basic performance stats, news, forums
- Premium account – $16.95/month, adds detailed analytics and reporting
- Pro account – $24.95/month, full functionality and settings customization
This tiered approach lets you start using core features for free, then upgrade as needed. FX Blue doesn’t lock essential tools behind expensive premium packages, making it more accessible for all trader levels and budgets.
Competitor Overview
FX Blue has four major competitors in the space – MyFXBook, NinjaTrader, TradingView, and ZuluTrade. Here is a brief overview of each platform before we compare them in-depth to FX Blue.
MyFXBook
MyFXBook is a trading community centered around an auto-trading and social network platform. Key features include:
- Auto-trading through MyFXBook’s proprietary bridge
- Investor program to assign capitals to traders
- Forex and CFD trading statistics and metrics
- Economic calendar and trading journals
- Free access but limited trade copying functionality
Like FX Blue, MyFXBook integrates with MT4/MT5 to auto-copy trades and provide analytics. But the platform has a heavier focus on its social community features.
NinjaTrader
NinjaTrader offers a complete trading platform and ecosystem targeting active traders. Key features include:
- Customizable charting and market analysis tools
- Backtesting and trade simulation capabilities
- Automated and discretionary trading
- Connectivity to various online brokers
- Advanced indicators and algroithmic strategies
NinjaTrader provides more of an end-to-end solution beyond just copy trading and analytics. But it requires running the custom NinjaTrader trading platform rather than connecting to MT4/MT5.
TradingView
TradingView is a charting and social network platform for traders. Core features include:
- Real-time charting with 100s of indicators
- Backtesting trading strategies
- Technical analysis and risk management
- Social community of traders and strategies
- Customizable layouts and workspaces
TradingView is primarily a market analysis and charting tool rather than a full trade management platform. But it offers robust community features to find and copy ideas.
ZuluTrade
ZuluTrade focuses specifically on copy trading and signal services. Key features include:
- Auto-trading by mirroring signals from strategy providers
- 10,000+ strategy providers available
- Risk management for drawdowns and volatility
- Portfolio allocation and automation tools
- Mobile app access and trading
ZuluTrade offers social copy trading similar to FX Blue but with more curated signal providers. However, ZuluTrade has limited analytics/reporting functionality.
Criteria for Comparing FX Blue to Competition
To compare FX Blue to similar platforms like MyFXBook, NinjaTrader, TradingView, and ZuluTrade, we assessed across six criteria:
Features
- Copy trading functionality
- Performance tracking and statistics
- Automation and strategy building
- Charting and market analysis
- Trading community and social tools
Integrations and Compatibility
- Connectivity to MT4, MT5, and brokers
- Web, desktop, mobile app access
Customization and Flexibility
- Configurability of settings and preferences
- Customizable alerts, workflows, and layouts
Reporting and Analytics
- Comprehensiveness of trading metrics provided
- Data visualization and dashboards
Customer Support
- Responsiveness across email, phone, chat
- Resources like help docs, guides, videos
Pricing and Value
- Overall pricing and fee structure
- Value relative to features and functionality
Let’s now dive into detailed comparisons of FX Blue against MyFXBook, NinjaTrader, TradingView, and ZuluTrade using these criteria.
FX Blue vs. MyFXBook
FX Blue and MyFXBook have similar core focuses on copy trading, performance tracking, and community features. But there are some notable differences between the two platforms:
| Feature | FX Blue | MyFXBook |
|---|---|---|
| Copy Trading | Proprietary bridge for MT4/MT5 trade mirroring with advanced settings | Auto-trading through MyFXBook bridge only |
| Performance Stats | Comprehensive stats and metrics with benchmarking | Good metrics but basic comparative stats |
| Automation | Backtester, strategy builder, trade automator | No automation features |
| Charting/Analysis | Basic charts and indicators | More advanced interactive charting |
| Community | Forums and access to signal providers | Large community and investor program |
| Integrations | MT4, MT5 | MT4, MT5 |
| Customization | Highly configurable copy settings | Minimal customization options |
| Reporting | Customizable detailed reports | Preset reports only |
| Support | Responsive email, help guides | Email and knowledgebase resources |
| Pricing | Free starter plan, then $16-$25/month | Free access but copy trading requires fee |
Pros of FX Blue vs. MyFXBook
- More seamless integration and customization for copy trading with MT4/MT5
- Automated strategy building and backtesting
- Much more comprehensive trading statistics and reports
- Lower cost to access full functionality
Pros of MyFXBook vs. FX Blue
- Larger social community features and discussions
- Investor program connects traders and capital
- More advanced interactive charting
Key Differences
FX Blue has a more seamless bridge for mirroring trades through MT4/MT5 along with highly customizable copy settings. The platform offers more advanced performance analytics and automation features like backtesting strategies.
MyFXBook provides some charting and community advantages, especially connecting traders to potential capital sources. But the platform lacks automation capabilities and in-depth reporting.
Recommendation
For copy trading functionality, detailed performance tracking, customizable reports, and trading automation tools, FX Blue is our recommended platform between the two.
The only reason to choose MyFXBook is if you specifically want to tap into the large investor network and community features. But FX Blue has superior core trading features.
FX Blue vs. NinjaTrader
NinjaTrader provides far more than just copy trading – it is a complete trading platform. This makes the comparison to FX Blue less direct:
| Feature | FX Blue | NinjaTrader |
|---|---|---|
| Copy Trading | Yes | Limited copy trading functionality |
| Performance Stats | Extensive trading metrics | Broad performance tracking |
| Automation | Strategy builder and backtester | Comprehensive automation tools |
| Charting/Analysis | Basic charts and indicators | Advanced interactive charting |
| Community | Forums and signals | Limited community features |
| Integrations | MT4, MT5 focus | Integrated proprietary platform |
| Customization | Highly configurable | Fully customizable workflows |
| Reporting | Custom reports and exports | Good performance reports |
| Support | Email, help guides | Phone, email, webinars |
| Pricing | $16-$25/month | $50-$100+ monthly subscription |
Pros of FX Blue vs. NinjaTrader
- Specialized solely on copy trading and performance analytics
- Much lower pricing with free starter option
- Intuitive dashboard interface and ease of use
Pros of NinjaTrader vs. FX Blue
- All-in-one trading platform and ecosystem
- Far more advanced charting and market analysis
- Custom strategies and automated trade execution
Key Differences
NinjaTrader provides a complete solution for discretionary trading, backtesting, automation, charting, and analysis. FX Blue is focused specifically on copy trading and performance statistics.
Ninja Trader has wider market connectivity and customization but requires running a desktop platform. FX Blue purely integrates through MT4/MT5 web and mobile.
Recommendation
NinjaTrader is superior for active traders who want an end-to-end trading platform with advanced tools. However, for copy trading functionality specifically, FX Blue provides better specialization at a lower cost.
If you mainly want to mirror signals and analyze performance, FX Blue excels. But NinjaTrader can’t be matched for automation and active trading.
FX Blue vs. TradingView
The TradingView and FX Blue comparison is also less direct given TradingView does not offer full trade execution capabilities:
| Feature | FX Blue | TradingView |
|---|---|---|
| Copy Trading | Yes | Can copy ideas from community |
| Performance Stats | Full trading metrics | Limited stats |
| Automation | Backtesting and strategy builder | Backtesting only |
| Charting/Analysis | Basic charts and indicators | Advanced interactive charts |
| Community | Forums and signals | Robust community features |
| Integrations | MT4, MT5 focus | APIs and platform connections |
| Customization | Highly configurable | Custom workspaces and layouts |
| Reporting | Custom reports and exports | Basic performance reports |
| Support | Email, help guides | Email, help center resources |
| Pricing | $16-$25/month | $15-$40/month plans |
Pros of FX Blue vs. TradingView
- Complete trade automation and copying
- Tighter MT4/MT5 integration
- More comprehensive performance reports
Pros of TradingView vs. FX Blue
- Superior interactive charting and technical analysis
- Larger trading community to share and discuss ideas
- Customizable workspaces and layouts
Key Differences
TradingView excels at market analysis, community, and customization while FX Blue offers full trade mirroring and management.
TradingView lacks trading execution while FX Blue has limited charting capabilities. The platforms are complementary for analysis vs execution.
Recommendation
For pure social trading and community, TradingView provides robust tools to discuss and share ideas. But FX Blue is better for actually copying trades and tracking performance.
Use TradingView for market research and technical analysis, alongside FX Blue for executing trades and tracking your results.
FX Blue vs. ZuluTrade
ZuluTrade is the most direct competitor to FX Blue for copy trading functionality:
| Feature | FX Blue | ZuluTrade |
|---|---|---|
| Copy Trading | Advanced management and customization | Wide provider network |
| Performance Stats | Full metrics and custom reporting | Limited stats and reporting |
| Automation | Backtesting and strategy builder | Automator tools |
| Charting/Analysis | Basic charts and indicators | Decent charting |
| Community | Forums and signals | 10,000+ strategy providers |
| Integrations | MT4, MT5 focus | MT4, MT5 |
| Customization | Highly configurable settings | Good account management options |
| Reporting | Customizable detailed reports | Preset performance reports only |
| Support | Email, help guides | Email, knowledgebase |
| Pricing | $16-$25/month | Commission fees on trades |
Pros of FX Blue vs. ZuluTrade
- More control and customization for copy trading management
- Far better performance statistics and reporting
- Affordable subscription pricing rather than trade commissions
Pros of ZuluTrade vs. FX Blue
- Massive network of strategy providers to follow
- Smooth auto-trading across provider portfolio
- Strong mobile app for managing account
Key Differences
FX Blue offers more management customization like advanced allocation and copy settings. ZuluTrade provides easier execution across a larger pool of strategy providers.
FX Blue has far better reporting and trade analytics. But ZuluTrade makes exploring and building a portfolio of providers straightforward.
Recommendation
If you want maximum control over trade copying and performance tracking, FX Blue is preferable. But ZuluTrade makes it simpler to execute across multiple strategy providers in one portfolio.
FX Blue also offers better value with its affordable subscription
Best and Most Trusted Forex Brokers
Based on regulation, award recognition, mainstream credibility, and overwhelmingly positive client feedback, these six brokers stand out for their sterling reputations:
| No | Broker | Regulation | Min. Deposit | Platforms | Account Types | Offer | Open New Account |
|---|---|---|---|---|---|---|---|
| 1. | RoboForex | FSC Belize | $10 | MT4, MT5, RTrader | Standard, Cent, Zero Spread | Welcome Bonus $30 | Open RoboForex Account |
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| 3. | Exness | FCA, CySEC | $1 | MT4, MT5 | Standard, Cent, Zero Spread | Free VPS | Open Exness Account |
| 4. | XM | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Micro, Zero Spread | 20% Deposit Bonus | Open XM Account |
| 5. | ICMarkets | Seychelles FSA | $200 | MT4, MT5, CTrader | Standard, Zero Spread | Best Paypal Broker | Open ICMarkets Account |
| 6. | XBTFX | ASIC, CySEC, FCA | $10 | MT4, MT5 | Standard, Zero Spread | Best USA Broker | Open XBTFX Account |
| 7. | Vantage | ASIC, CySEC, FCA | $50 | MT4, MT5 | Standard, Cent, Zero Spread | 20% Deposit Bonus | Open Vantage Account |
| 8. | FXTM | FSC Mauritius | $10 | MT4, MT5 | Standard, Micro, Zero Spread | Welcome Bonus $50 | Open FXTM Account |
| 9. | FBS | ASIC, CySEC, FCA | $5 | MT4, MT5 | Standard, Cent, Zero Spread | 100% Deposit Bonus | Open FBS Account |
| 10. | Binance | DASP | $10 | Binance Platforms | N/A | Best Crypto Broker | Open Binance Account |
| 11. | TradingView | Unregulated | Free | TradingView | N/A | Best Trading Platform | Open TradingView Account |
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