Social Trading - Trading forex has never been easier. Well established German based social trading network which is rapidly expanding throughout the rest of Europe. You can try risk free via a demo account first. Zulutrade Same as with eToro, Zulutrade is one of the biggest forex social investment networks.
With the best social trading platforms offered today, newbie traders can follow expert traders while those with more experience can improve their own trading by selecting and subscribing to one of many Forex social trading platforms available in the market today.
Social trading is a trend that has been around for many years but it has gained in popularity of late due to increased trading activity and the need by Forex traders to depend on the knowledge and experience of more savvy investors. The idea of being connected with other Forex traders on the network is attractive to everyone. Before the advent of social trading, investors had to rely on fundamental or technical analysis to form their investment decisions.
Using Forex social trading investors and traders are able to integrate into their investment decision-making process with social indicators from trading data-feeds of other traders. The best social trading platforms allow traders to interact with others, monitor their trades and then decide whether they are worth duplicating. By copying trades, traders can learn which strategies work and which do not work. Many of the top social trading platforms also include copy-trading, sometimes referred to as auto-trading , capabilities in their social platforms where investors can automatically copy or mirror the trades from other traders on the network in their own trading account.
Some social trading platforms, such as the Sirix Social Network, allow a trader to select to follow a specific master trader who already has a long list of copiers. They would also include those Forex brokers that offer the most efficient copy trading capabilities since this would allow traders to place more trades at any given time.
Lastly, the ability to synchronize order executions between several trading accounts between a signal provider and followers is another feature that can push a social trader broker to the top of the rankings.
Your capital is at risk. Cmstrader is a relative newcomer to the Forex scene. With the automatic mirroring functionality these trades can be automatically copied. You can read our Tradency Mirror Trader review here.
Started as a pure trading network where traders can connect their trading accounts to share their live trading signals and interact in their active Forex community forums. Also provides real-time charts and market indicators. Find our hands on myfxbook AutoTrade review here.
Darwinex launched to investors in September This innovative investment platform also lets you invest in other successful traders. However instead of directly copying them, you purchase a DARWIN, similar to a stock or share, which tracks the performance of the top trader.
Read more about Darwinex here. This is the social copy trading service of RoboFOREX, an international broker established in with a focus on providing tools for expert auto robot traders. Via their CopyFX service you can view their best performing traders and automatically copy them via your account.
You can try risk free via a demo account first. Works with multiple brokers and demo available too. IronFX is a global FX broker with customers in over countries and support in 45 languages. They allow their clients to follow and copy successful trading strategies from others within their trading community, in real time. Free demo available via their website. L iteForex Social Trading: Their social Forex platform allows you to automatically duplicate the best trades from other successful traders, to share information and to communicate live with these experts.
You can try their copy service with a demo account. FX Junction is an open social trading network which connects Forex traders and MT4 brokers around the world. Their platform allows you to share trade ideas and discuss market events. You can also share and analyse your own trading performance or follow and AutoCopy others traders on their service.
Over brokers and banks around the world use the MetaTrader 4 and 5 platforms. From they added functionality which allows every trader on their platform to become a subscriber or a provider of trade signals. The signal providers can be discussed in their online community as well.
Sunbird is another FX broker who added automated trading to their client offering in It allows investors to review and copy a variety of other high-quality traders as well as some carefully selected automated trading systems Algo-Trading.
Started in as a Forex analytics provider allowing traders to analyze their own performance with more than statistical tools, graphs and ratios, and compare this with other traders over the world. Over time they added a social trading community and autotrading functionality. C M Trading CopyKat: CM Trading does however use an open approach which means you can mirror the trades of everyone on SIRIX, so also top professional traders at other brokers.
This binary options broker also offers a social element as part of their trading features. With iFollow you can view the performance of the top traders on Redwood and follow them, which will automatically copy their binary traders in your account. This technology provider also offers a trading-system platform which allows the tracking and auto-trading of trades from multiple sources.
They sell their solution to 3rd party Forex brokers or financial service companies who can white-label it, though offer the service through their own brand and website too via a few partner brokers. This international broker launched in as one of the first ones to offer cent accounts and is particularly popular in the Asia-Pacific region. Alternatively their PAMM accounts let you invest directly in some traders as well.
To add to the social aspect they also run various contests and tournaments. The service allows beginner traders to copy the trades from experienced Leader traders with accounts at this broker. This new mirror trading platform was launched in November by Spotware, the same company who develops the cTrader Forex trading platform.
With cMirror any trader can become a strategy provider by broadcasting their trade signals and optionally charging commissions. In addition to the trade execution and charting functionality, the platform also includes a social trading component.
This allows you to follow and automatically copy other traders. Launched in they offer a slightly different approach to the other networks.
Launched in the platform gives Saxo customers access to the latest market news, expert opinions, an economic calender and the aggregated forex positions.
TradingFloor also allows you to analyse the historical performance and see the real time trading activity of other traders connected to the community. It cannot get too much more social than this. Instead of trade copying, nextmarkets allows you to choose one or more personal trading coaches for a monthly fee.
You then get all their trades and strategies delivered by email or push notification. When your coach is in a trading session, you can also look over his shoulder and follow his trading activities live from your home pc or on the go with their smartphone apps. So you can learn from these professionals, though you must decide yourself whether to copy or not.