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Best Social Trading Platforms? 5 Social Trading Networks

This is useful to anyone looking to start copy trading as a wide user-base gives you more traders to potentially copy. Their platform has a list of great educational tools for anyone looking to learn more about investments and trading. You can use a variety of filters to find a trading strategy that works for you.

social trading platforms

Although social and copy trading is getting more and more popular with the average Joe investor, the number of top-rated platforms active in this space is still relatively small. Like Trading Motion, you can pay a subscription to use an automated system that copies successful traders. You need to check to see if your broker is on the list of partners, though.

Fees (Trading and Non-Trading Fees)

There are over a million traders using their platform, so you can be sure to find a strategy that suits you. They have a staggering amount of data and analysis tools that are useful to all traders, not just copy traders. Unlike the rest of the platforms in this list, you cannot trade directly on Kinfo. If you’re confident enough to trade independently, they have a reward system where traders earn a commission allowing other traders to copy them.

With this update, the end-users can access insights, the community, and their portfolio right from the get-go. Users invite friends to follow or join a group, or help each social trader tools other to improve their investment strategies. Experience the lightning-fast MetaTrader 5 platform where you get advanced chart analysis, trading signals, and more.

social trading platforms

The platform provides information on a trader’s activity, both past, and current trades. As well as following strategies from other traders, C2 has a variety of other trading strategies you can choose from on their site. Last but not least, eToro’s copy trading is an exciting feature, too. Unlike regular copy trading, eToro’s social investing allows you to copy other traders’ actions with adjustable levels of risk and exposure. This way, you are not entirely dependent on other trader’s activities and can alleviate the risk of losses if you want to. Discover hundreds of investors on the NAGA Leaderboard and copy their trades.

There are plenty of platforms that make it possible, but our guide below will help figure out which one is best for you. It’s one of the most effective trading strategy for individuals who don’t necessarily have the time to trade independently. Here, you just need to fund your account, leave it alone, and hope to see it grow, or you can monitor. It helps you to start trading effortlessly and quickly like an experienced trader. We weren’t satisfied with the quality of the customer service and the account opening process is complicated.

NAGA NEO-Broker

Get the most recent market updates through your NAGA Feed. Multiple trading accounts can be opened with any of the supported base currencies, which includes crypto. NAGA is a publicly traded fintech company that is backed by the multibillion-dollar Chinese fund FOSUN. It comes with advanced social trading features that allow you to quickly find and follow the signals of other traders. Public is one of the best social trading platforms out there, allowing you to build a portfolio starting with as little as $1. You can follow different investors and see their portfolios, learning from their trades, and getting a feel for investing.

  • If, however, you’re looking for a top-rated platform that also offers social trading features, FXTM has you covered.
  • Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager.
  • If, for example, you deposited $2,000 – this would allow you to diversify across 10 different investors.
  • The solution is connected via service-side API, ensuring low latency and stable connection to the trading platform.
  • EToro is a trusted leader in the fintech industry for more than a decade.
  • EToro’s advanced social trading features make it the social network for traders – every user is free to interact with other investors and copy their trades.
  • We have come across social trading platforms that allow you to copy other traders using the site.

Each have their own traits and distinctive qualities; some offer incentives such as bonuses and discounts to be the one that is copied, while others do not. Having the ability to see other people’s trades and decisions in the markets can give you further understanding of assets or prices. Social trading allows for this by showing you where, when, how, and in many cases why a trader or investor decided to do something. This is important and can increase you knowledge of certain aspects.

ZuluTrade

Of any main white label MetaTrader server provider can also use it as it does not require plugin installations, just MT manager credentials without administrator rights. Your clients can use an account nominated in any currency. A platform that gives beginner traders the opportunity to copy positions from professionals. We produce all the materials to help you to launch this platform in just 7 days. First, you need to select the investment amount – which needs to be at least $200. By default, you will only be copying ongoing trades placed by the individual.

You can either copy the entire trade or only a portion of it. So you won’t make the exact dollar amount as the trader you are mimicking. Their social trading feature is called ‘Covesting,’ but it is essentially the same as all other social trading methods.

social trading platforms

As there is no minimum deposit, no inactivity fee, or monthly fee, and the account opening process is seamless, you shouldfeel free to try it. TD is one of the biggest US online brokers and it charges no commission on stock and ETF trades. Cryptoasset investing is highly volatile and unregulated in some EU countries. The copied trader will trade and anything they do, will be parallel to your own portfolio. Await for them to make profitable trades; assuming they make profitable trades, your position size will increase along with the trade. These accounts enable you to trade lots in their standard form, which is equivalent to $100,000 per lot.

Risk disclaimer

If you’re a long-time trader, this information will be superfluous to your needs. But if you’re starting, you need to ensure that the platform you choose has some way of educating you about the basics. Some platforms have millions of active traders, such as eToro. This is useful for exploring various options and strategies, but too many traders can make it difficult to pick out the best ones. More active traders on a platform mean there are more strategies to copy from. These regulatory bodies control various aspects of trading, social or otherwise.

social trading platforms

More banks are offering early direct deposits, so shouldn’t you take advantage of it? Miranda MarquitMiranda is a nationally-recognized financial writer and money expert. She has contributed to NPR, Marketwatch, Yahoo! Finance, U.S. News & World Report, FOX Business, The Hill and numerous other publications. Miranda is an avid podcaster and writes about money and freelancing at her website, MirandaMarquit.com.

MetaTrader 5

Some of the contemporary social trading platforms other than mentioned already are Zulu Trade, Trading Motion, iSystems, FX Junction and Collective2. EToro is often regarded as the leading social trading platform of choice. With more than 17 million clients, investors are attracted by the platform’s simple interface, commission-free offering, and support for thousands of tradable markets. Some social trading platforms only support bank wire deposits, so expect to wait at least a couple of working days before the funds are credited. For example, if you’re looking to trade currencies in a completely passive nature, FXTM allows you to filter your search by the asset class – in this case, that’s forex. FXTM is primarily an online trading platform that specializes in forex and CFDs.

Investing made social with NAGA

You will always be slightly behind the trend if you copy other traders. Their proprietary technology owned by Metaquotes launched in 2010. Despite whatever they might say on their website, reviews https://xcritical.com/ for this platform are overwhelmingly negative. It was launched in 2014 and has received mostly positive reviews since. CM Trading launched CopyKat with a specific focus on customer security.

The key tip here is to expand your horizons as far as what platform you use. These are the traders and investors that you’ll be copying if you’re in the social trading market to have others make the trades and market decisions for you. The platform essentially sits between you and your chosen broker. In addition to advanced trading tools, MT4 also offers social trading features.

The system can automatically archive inactive accounts after they are deleted or archived in the MT4/5 server. There is a table in settings where you can specify in which group the account type that should be opened by default. Also, the platform can copy a group from a payment account. You can allow clients to open as many accounts as they want or just 5-7, for example. Our platform capabilities reach way beyond simple copy trading.

If you want to learn more about it, check out full eToro review. Before the widespread popularity of social trading, this was still possible. As brokers introduced casual and individual traders to the market, they built features that encouraged users to use this method to trade. These platforms allow users to view other traders’ portfolios and copy their investments. Important features to note when looking are the fees, the number of active users, and the regulations involved.

Trading Education

Just by looking at what others are doing and discussing strategies, you can use your own brokerage account to mirror what you see online. You can join FX Junction for free, allowing you to see the forex trading signals of others, and automatically copy them from your own trading account. In order to use FX Junction, you need to already have a registered brokerage account that uses MetaTrader4 or MetaTrader5 platforms. Once that’s done, you can choose which signals from professionals you want to copy. Just like any other investment, you can also make money or lose money from copy trading. The idea behind copy trading is to assess each trader’s profitability before selecting which signal provider you want to follow.

Tools for crypto traders to maximize profits and minimize risk, limit losses across multiple exchanges and more. 23 supported exchanges, multilevel referral program, public API. 3commas Cloud gives partners and customers the tools they need to trade cryptocurrencies efficiently. You can set up a digital asset trading platform for your local market.

What is Social Trading? Best Social Trading Platforms

Open and close trades on your own or simply autocopy the top traders and let them do the rest. Make a deposit via any funding method you prefer to start trading with real money on NAGA. The solution package is available as a plugin for fully licensed MT4/MT5 admins and an application for white label brokers with MT4/MT5 manager privileges. The solution is connected via service-side API, ensuring low latency and stable connection to the trading platform. Brokers may easily switch between the signal providers indicators in the Ratings & Statistics module to only display relevant information for their clients.

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