The Best Social Trading Platform 2018

Social trading means that you base your investment decisions on various social indicators such as information from other traders. In case of social trading the platforms are the making this information available online.

Top 3 Social Trading Platforms 2018

BROKER INFO BONUS OPEN ACCOUNT eToro Regulation: FCA and EU

Leverage: 400:1

Demo Account: Yes

Min Deposit: $200 Demo Account VISIT BROKER ZuluTrade Regulation: EU

Leverage: 50:1

Demo Account: Yes

Min Deposit: $100 Forex and Binary Options VISIT BROKER BinBotPro Regulation:

Leverage:

Demo Account: No

Min Deposit: $300 Available on APP VISIT BROKER

In the beginning, the first social trading platforms used to focus solely on the idea of sharing between traders and on the online information. The social network concept was very similar of other online social mediums such as mySpace or Facebook. For instance, you had to create a profile and highlight your preferred markets and trading strategies (commodities, stocks or Forex). Then you had to search like-minded traders to follow all over the world.

Traders could share with others on the social media platforms their views of the markets in a fashion similar to updating their Facebook status. However, the real power of these social media networks was to be found in the integration of the real-time trading feeds from the best traders on the network. This information is automatically shared with the network whenever a trader makes a trade in their own account. The advantage consists in the fact that you can see at any time the overall buy or sell trend from the traders on your own community or all the traders connected to the social trading platform.

The first social trading platforms were released by existing brokers as an additional feature. Zecco.com and eToro are among the pioneering brokers. Tradency, Ayondo, ZuluTrade, FXStat, Myfxbook, and Tradeo also followed. The parent company of AAAfx broker launched ZuluTradel. Myfxbook and FXStat were launched as pure Forex social trading platforms.

The next step for social trading was to give the possibility to investors to follow automatically the most profitable traders. ZuluTrade, eToro, FXStat, Myfxbook and Ayondo all offer this functionality.

Initially, the social trading platforms focused solely on trading Forex currency. Since them, some networks already added to their portfolios indices and commodity. Individual company share quotes can also be traded on two of the social trading platforms since 2013.

Back in November 2016, eToro has launched their “CopyFunds”. This tool bundle together strategies or ideas, while their “Top Trader CopyFunds” also add the best performing traders.

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