Getting involved in social trading is one of the most convenient and user-friendly ways to start trading in the forex market or a host of other assets made available by the best social trading brokers.
In the background, one of the things that help make these brokers so popular and easy to use are their powerful and intuitive trading platforms. These social trading platforms for the core of your trading experience with any broker so it is key to find the best one to suit your needs.
Here then we take a closer look at some of the very best social trading platforms as offered by these brokers.
XM is one of the most experienced names in the industry when it comes to social trading and a wealth of other features. They have been around since 2009 and have built a very trusted reputation as a very well-regulated broker offering great trading platforms.
XM primarily offers trading through the extremely well-respected MT4 and MT5 trading platforms. Here you can get involved in social trading on some of the more than 1,200 assets that are available for trading.
Though the Metatrader trading platforms do not directly provide for any social trading features as standard, they are still some of the most well-equipped for social trading through other methods that are indirectly connected. The best way you can engage in social trading through MT4 is to utilize the EAs feature. This will allow you to follow other traders in external social settings like the MQL5 community and import trading strategies you would like to follow.
Employing this kind of social trading style is not only accepted by XM but also very well-catered for and relatively easy to do through the user-friendly MT4 and MT5 trading platforms where you can get started with a very low minimum deposit.
AvaTrade is another of the most experienced brokers in the industry that provide a great social trading infrastructure you can get involved with. They have more than a decade in the sector with the Irish-based broker having launched in 2006.
When it comes to social trading, as they do to facilitate copy trading, they have linked up with ZuluTrade who are themselves one of the biggest trading platforms in social trading. This means it is both fast and convenient to directly link your AvaTrade account with ZuluTrade thanks to their partnership.
Through ZuluTrade you will then have access to copy some very experienced and successful traders or provide your own trading signals. The platform hosts a variety of features to make your social trading experience as interactive and user-friendly as possible while trading on more than 200 assets made available by the broker. This includes the ability to comment on and communicate with other traders using the platform. You can also connect your AvaTrade MT4 account with ZuluTrader to allow copy trading through that trading platform directly.
eToro is an industry leader when it comes to copy and social trading. This is the core that the business was built upon when they first launched and which has continued to evolve into a comprehensive social trading platform that is one of the easiest to use in the sector.
The proprietary social trading platform that eToro operates is not only visually appealing and very easy to use but is also backed by a string range of special features and customizable options that make it the most popular around.
The “feeds” area of the eToro platform is where you can fully engage with other traders in a way that resembles any top social media platform of the moment. Here you can quickly and easily share news, views, videos, and more while engaging all the time with other traders.
Combining these social trading platform functions with the wide array of top copy trading features provided by eToro creates an immersive trading and social experience for you to learn and connect with while trading in more than 1,000 assets all at very competitive rates in terms of fees and including both CFD trading, and real stock trading opportunities.
Please be aware that all trading involves risk. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is for educational purposes only and is not investment advice.
FXTM is one of the most trusted and respected forex brokers in the industry with trading offered in more than 250 assets. When it comes to social trading the broker does an excellent job in combining their great trading platforms in MT4 and their own proprietary FXTM Invest product to cover all your needs.
Through FXTM Invest you can engage in a fully interactive copy and social trading environment through which you can share as well as pick up useful trading information and more. This can then be directly employed on your Metatrader trading platform that of course has all the functions and usability for which it has become known over the years.
Besides to tools and features offered by FXTM Invest you can also import strategies from the wider community to make use of the MT4 EAs feature that can be invaluable in linking these resources that you can bring from the wider social community.
Overall, the social trading platform in MT4 combining its own customizable tools and indicators with what is offered by FXTM invest makes this a perfect place to engage in social trading and an area of increasing popularity for FXTM traders.
Pepperstone makes the list of best copy trading brokers thanks to more than 10 years in the industry prioritizing traders through their transparent, good value broker services. Well-regulated by ASIC in Australia, the FCA in the UK, and others around the world, the broker has become a popular choice for many types of traders.
Through their proprietary and easy to use trading platform which is also available on mobile, you can engage in trading CFDs, Spread Betting, and more on all of the assets they have to offer. As a social trader though they they are powered by Zulutrade enabling you to fully take advantage of copying other traders.
Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
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