Top Social Trading Networks

Ever since the universe is created, the concept of trading exists. Trading refers to the buying and selling of goods or services. Many decades have been passed since people are involved in buying and selling of stocks, metal, commodities etc. Earlier people used to trade in physical markets, but with the passage of time, online markets also became available to serve the same purpose. Today modern trading involves parties such as traders, liquidity Providers and the brokers. In this piece, we are going to discuss a recently emerging trend known as social trading and the Forex brokers serving as a social trading platform. But before we discuss them, let’s give you a brief overview of what a social trading platform is all about?

A social trading platform is a place through which investors from different parts of the world comes in contact, collects and use the financial content gathered from different sources for trading purposes. The social gathering serves as a platform for investors from all around the world and traders to come into contact with each other, to share, use and rely on user generated financial information and content for making financial decisions. Traders can share their trading performance with others. Novice traders can simply copy trading strategies of different experienced traders to earn sound profits.

We hereby bring you some leading social trading networks. In this review, you can find out information about the Forex networks that offer both social trading as well as auto trading capabilities. These platforms allow traders to automatically copy or mirror the trades from other traders on the network in their own trading account. Traders simply need to select the trader of their choice.

Leading Social Trading Platforms and Networks:

Given below is a list of some top social trading platforms;

ZuluTrade: When it comes to social trading platform, ZuluTrade is the name that can’t be ignored. It is known to be the largest global social trading platform that has massive numbers of both traders and brokers being its subscribers. ZuluTrade offers full trade copying accompanied with social interaction tools. A free demo is also available at ZuluTrade.

eToro: Considering the needs of all stakeholders eToro pays special attention to novice traders. Being a broker and amongst one of the leading social trading platforms eToro offers different learning tool to its clients. Educational videos and online webinars are available to understand and become familiar with the user-friendly trading platform’s interface of eToro. A demo account for all clients is also available.

Ayondo: Here, we would like to introduce you a German-based social trading network named as Ayondo. It is rapidly expanding in all across the Europe. Ayondo is the first network to start offering auto trading for ‘spreadbetting Forex accounts’ for customers based in the UK. It doesn’t only offers a wide range of trading services in (forex, commodities, stocks, indices, bonds, commodities etc.) but offers a free demo account for its traders to make them test their own strategies using a virtual balance before going live.

Tradeo: In 2012, a social trading network with a name Tradeo was launched. It offers traders to share their trading activities, interact and get feedback from other traders. In 2013, an added feature by Tradeo was that traders started automatically copying the strategies from other Forex traders. This proves to be very helpful for the novice traders in making reasonable profits. A fully functional demo account is also offered at Tradeo.

SwipeStox: SwipeStox takes the idea for launching a social trading platform from social dating apps. They allowed traders to copy trades of the most successful traders. They devise a smart effective algorithm to ensure that traders matching your profile are displayed only. They also allowed traders from all parts of the world to interact with each other and share their trading ideasTheir trading platform lets you copy trades from top performing traders. Paying heed towards novice traders, swipeStox offers educational tutorials along with the online free webinars. Like most of other social trading platforms, it also offers a demo account for traders.

InstaForex ForexCopy: The title for being the “best broker in Asia” has been won by none other than the InstaForex. It has a fast growing global customer base. It serves as a social trading platform also. Traders are allowed to follow successful Forex traders and copy their trades in their account. Alternatively, you can make other professional traders trade on your behalf by using the unique PAMM system offered by InstaForex. A full list of ForexCopy trading accounts that a trader can choose is available on the broker’s official website.

Myfxbook: To make traders connect their trading accounts to share their live trading signals and interact in their active Forex community forums, Myfxbook started as a pure social trading platform. Real-time charts and market indicators along with detailed analysis are offered at the company’s platform. In collaboration with a broker, a new feature “AutoTrade” was introduced in 2013. Using the feature traders are allowed to copy trades from a small subset of the traders on their network. To enable traders to practice their own strategies, a demo account is also available.

Darwinex: Darwinex is relatively a new social trading platform launched in September 2014. The platform following innovative features lets traders invest in other successful traders. This means that traders can make other experienced traders trade on their behalf. However, traders are required to purchase a DARWIN, similar to a stock or share, which tracks the performance of the top trader and only then you can select the trader of your choice.

CopyFX: In 2009, an international broker RoboFOREX introduced a social trading service with a name CopyFX. Using CopyFX traders can copy the trades of other advanced and professional traders. Traders are allowed to view the performance of professional traders to select the trader of their choice to copy their trading signals in their own account. A risk-free demo account is also available at CopyFX.

MyDigiTrade: For mirroring trades made by professional traders, Mydigitrade was created by a group of professional traders in 2010. The platforms allow traders to interact with other traders, comment and rate the traders/signal providers. Trades can subscribe their favourite traders to mirror all his/her trades in traders account. Working with multiple brokers, a demo account is also offered.

IronFX Social Trader: Let us tell you another broker, known as IronFX. Being a global broker, It has a customer base in over 180 countries and provides support in 45 languages. The platform is designed to fulfill the needs of all stakeholders and serves not only as a broker but has all the features of social trading platform equally. Clients are allowed to follow and copy successful trading strategies from other professional and experienced traders within their trading community, in real time. Advanced platforms such as Sirix Social WebTrader platform is available for clients at IronFX Social Trader. Free demo available and can be accessed by visiting company’s official website.

LiteForex Social Trading: The Lightforex Social trading platform is founded in 2005. Focusing Asia Pacific markets, the broker have made their way to become a true global broker. The social Forex trading platform at LiteForex allows traders to automatically mirror the best trades from other experienced and successful traders. It allows clients to share information and to communicate with experts, live. To make traders get their hands-on by practicing their own strategies, a demo account at LiteForex is available. The broker also offers Significant bonuses to real money users.

FX Junction: To offer social trading to traders, FX junction also serves as a social trading platform. The platform connects Forex traders and MT4 brokers from all parts of the world. Traders can share trade ideas discuss market events and analyze their own trading performance as well as of others. Copy trading is also allowed at FX Junction. Traders just need to subscribe to the service of copy trader.

FxStat: FxStat is founded in 2010, offering services as a social trading platform. Traders are able to analyze their own performance using more than 150 statistical tools, auto chartist and other financial ratios and compare this with other traders from across the globe. Auto trading functionality is a recently added feature in the FxStat social trading platform.

CM Trading CopyKat: As the name suggests, this online brokerage allows traders follow and copy other traders through the “CopyKat” feature. This broker has the advanced SIRIX trading platform which is commonly used by various other brokers. Being generous, the broker doesn’t restrict any trader and allow them to copy trades of everyone available on SIRIX. Traders can even mirror the trades from the most expert traders and brokers.

MFX Broker: A well-known broker MFX Broker established in 2006. It is amongst one of the pioneers to offer cent accounts and is specifically popular in the Asia-Pacific region. The “MFX Copy” service offered at MFX    Broker allows traders to subscribe and automatically copy signals from successful traders and signal providers. However, users have another option that they can invest in some other professional traders to trade on their behalf. The innovative PAMM accounts allow the users to do so. To make clients experienced wonderful at MFX Broker, various contents and tournaments are held occasionally. You can have a detailed overview by visiting the broker’s official Website.

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