Social forex traders

This method allows traders to copy specific strategies with the desired leverage. You could invest lower or higher than the suggested allocation recommended by the strategy owner. Following is a handpicked list of top copy trading platform with their popular features and website links. The list contains both open source free and commercial paid software. The eToro is one of the best social and copy trading systems ideal for beginner users who prefer to stick to more simple usability. Features: Trade and invest in top stocks and ETFs.

Build your crypto-based portfolio. Cons Spreads are higher than average Does not have the MetaTrader platform. This is an international ECN broker who is also very active, particularly in Asian and African markets. They offer an extensive range of account type choices.

This makes copy trading extremely accessible. Features: Access all your trading accounts from one place. Cross-device trading between desktop and phone. View real-time prices and live price updates.

Commission-free trading available. Wide range of research and education. Cons Does not offer its trading platform. It allows investors with existing brokerage accounts to link a new account via their existing broker easily. This is one of the best copy trading platform, which helps you filter brokers based on minimum Deposit to start forex trading, mobile support, etc. ZuluTrade also allows login via Facebook, convenient for those who regularly log in to check their account.

Features: You can download a spreadsheet of all the simulated trades. ZuluTrade is free to join, as you just need to pay the spread on trades. Allows investors to copy other investors' portfolios, Provide an alert if a margin call occurred and even allows you to download a spreadsheet of all the simulated trades.

Regulations: CFTC, NFA Founding Year: Customer support: Live Chat, Email, Phone Pros Nice platform and interface Lots of traders to copy Best risk management for both experienced and inexperienced investors Free full-featured demo account Cons No integrated broker There are many complaints about selling phone numbers and email to brokers, copy trade errors, and poor managers' rewards. Trader compensation model not ideal for investors. They are one of only a few top forex brokers to offer fixed spread forex trading. Avatrade provides an extensive range of copy trading and social platforms for you to choose from.

This is one of the best copy trading platform that allows automatic real-time copying of trading operations from one trading account to another. It is available straight from the Meta-Trader 5 platform. The service principal is simple: a trader provides public access to the deals they execute on financial markets, while it also allows other users to subscribe to this signal.

It automatically does the execution on subscribers' trading accounts. Features: Provide free and paid signals are featured on the Signals tab of the MetaTrader platform. Offers negative balance protection is extended to traders. Worldwide presence with locations globally Cons The demo account the only limit of 21 days can be too short for many traders.

Offer high inactivity fees can discourage some casual traders with the broker. This best forex copy trading service provider uses the MQL5 language, the automated trading software that runs on your computer and trades on behalf of you. This copy trading platform allows you to open currency or stock charts at a time, and the 21 timeframes enable comprehensive and detailed analysis of even minor price movements.

MetaTrader 5 offers desktop, web, and mobile versions of the platform. This one of the best social trading platforms uses the MQL5 language, the automated trading software that mostly runs on your computer and trades for you. Features: Best interface Improve chart and graphics Offers new quote on orders Fast, easy, and flexible Save data and manipulation of trade is simple. Very great visual display and the color and time frame. Regulations: NA Founding Year: Customer support: Phone only Pros Easy-to-navigate interface Economic calendar that is provided as part of the platform Helps eight types of pending orders and 21 timeframes Comprehensive suite of analytical tools Breadth of asset classes Cons Hedging for exchange markets is disabled.

Choosing the best Social Trading Platform

Advanced tools and features may be intimidating for a beginner. Is Copy Trading legal? Yes, copy trading is legal in most countries, provided that the broker itself is properly regulated. When investing in the financial markets using a regulated-broker and legalizes your account and the traders carried within them. However, all of these completely depend on your country that you are living in. How Does Copy Trading Work?

To learn about copy trading, one of the most important things to be informed about the actual process of copy trading. Here is how it works: In copy trading, the trader opens a trade. The investor you then copies that trader. This usually happens automatically and without the requirement for any manual interventions. You may profit or lose with the trader you have copied. So if their positions grow, so will yours.

However, the opposite can also happen. Here, most important point to note is that everything is proportionate.

Therefore you can invest whatever amount you like depending on the broker rules. So, by using the service of your copy trader, you will gain or lose proportionately. However, you need to remember when selecting the traders to copy, you should know your trader's position sizes they usually open, as this can impact your investment.

Why Copy Trading? Copy-trading allows copying positions of another trader, and lately, it has become more popular.

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There are many traders who create 'People-Based' portfolios to invest in other investors instead of trading themselves. Here are some reasons worth discussing why copy trading is becoming popular: Time-Saving: Copy-trading saves time when compared to manual trading. Therefore, a trader who doesn't' have time or does not have enough knowledge should go for copy trading.

Education: Copy trading is also best to approach to learn trading strategies. ZuluTrade is one of the leading social trading platforms, which enables IC Markets clients to select from , experienced traders from countries and trade based on their trading signals free-of-charge. Auto-trading with the ZuluTrade platform is an appropriate solution for people who do not have the time to establish and test trading strategies of their own, as well as for Forex traders who wish to get rid of the emotional factor in trading.

IC Markets clients can choose experienced traders to follow based on their Zulu Rank.

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Forex signal providers are ranked based on analysis of their overall performance, exposure, stability, minimum equity required, among other factors. Another valuable feature of this social trading platform includes the so-called Zulu Guard.

ZuluTrade also offers a simulative tool, with which IC Markets clients can test possible earnings or losses of particular strategies on their account without the need to go live. Overall, IC Markets is the best fit for ZuluTrade due to low spreads, reduced slippage, fast withdrawals, superior technology, fast execution and a solid client base of , active traders. Register for a FREE demo account by clicking the button below. Established in , Markets. The www. The social trading feature along with the trading signals is powered through MQL5 signal service.

With Markets. Signal providers can be selected based on their trading history, the number of subscribers, growth percentage, funds under management or maximum drawdown. Additionally, the variety of Forex and CFD products available over 2, tradable instruments coupled with a full suite of technical indicators, opens the door to countless trading systems that could be copied. Yet, retail clients should bear in mind that the trading signals service cannot be considered as investment advice and they may act on signals at their own risk.

What Is Social Trading?

Additionally, traders can opt for Markets. View Markest. Since the broker uses a vast pool of liquidity providers, it is able to offer spreads on major currency pairs that start from 0.

In other words, perfect conditions for short-term trading systems — day trading and scalping copy trades.