Are you looking for the best Social Trading Platforms in 2021? Are you not aware of which one to choose from various possible platforms?
Social trading is one of the most convenient and user-friendly to get involved in trading in the forex market or a host of other assets made available by the best social trading brokers.
One of the things that help make these brokers outstanding and easy to use is their powerful and intuitive trading platforms. These social trading platforms are the essence of your trading experience with any broker, so it is important to find the best one to suit your needs.
Here, we take a closer look at some of the best social trading platforms offered by these brokers.
eToro is the most well-known social trading platform in the world. You can engage with other traders, get tips and strategies, and even copy their actions. It has been slowly expanding its offerings, In the United States.
Initially, when eToro came to the U.S. In 2018, it was possible to use the platform for currency trading. Today, eToro is working on expanding its offerings in the United States.
It has been the best industry leader in copy and social trading. It is the foundation that the business was built upon when it first began and has continued to grow into a broad social trading platform that is the easiest to use in the sector.
ZuluTrade is a well-recognized social trading platform and the best in the industry. They are also trustworthy and have established a huge reputation in the industry. With ZuluTrade, you can connect with a supported broker account to their social trading platform where you can interact with others.
The platform has a range of copy trading features and a low minimum deposit of $100 in place.
Pepperstone generates the list of best copy trading brokers as it has been in the industry for more than a decade in prioritizing traders through their transparent, good value broker services.
Through their proprietary and easy-to-use trading platform that is also available on your mobile, you can engage in trading CFDs, Spread Betting, and additionally on all of the assets they have to offer. As a social trader, they are powered by Zulutrade facilitating you to fully take the benefit of copying other traders.
FXTM is one of the most well-known and respectable forex brokers in the industry offering trading in more than 250 assets. Social trading brokers do an excellent job in combining their great trading platforms on MT4 and their FXTM to cover all of your needs.
Through FXTM Invest, you can interact in a fully interactive copy and the social trading environment through which you can share also pick up useful trading information and more. It can then be directly employed on your Metatrader trading platform which has all the functions and usage for which it has become known over the years.
5. Trading Motion
This company concentrates on automated trading systems. While Trading Motion emphasizes more than 900 systems, only 600 are available to U.S. residents. However, if your broker is financed, you can pay a monthly fee to subscribe to a system of your preference. There are no demo accounts, and you have to look through the site to see if you can identify a system that you think will bring you success.
Once you have recognized that system, you can use its trade. It’s essential to stay on top of the situation, to ensure that you’re still getting the right approach for your money.
Like Trading Motion, systems use system-based trading. There are almost 1,400 systems available for U.S. customers. The systems built must fulfill various regulatory requirements in the United States, so there are fewer systems available in the U.S.-based traders than those located outside the country.
However, if the system satisfies the requirements, you can choose from various systems that were developed by dozens of trading professionals. You only have to select your system and activate the strategy through one of the more than two dozen U.S. brokers available. It’s even possible to act as a developer and create your automated trading system.
7. FX Junction
You can join FX Junction for free, enabling you to see the forex trading signals of others, and automatically copy them from your trading account. To use FX Junction, you need to have a registered brokerage account that uses MetaTrader4 or MetaTrader5 platforms. After that, you can choose which signals from professionals you want to copy.
FX Junction utilizes what they call validated Signal Providers that you can observe. You may also have to pay an AutoCopy fee, based on the provider you follow, but that’s the main cost you’ll see.
From setting up automatic trades this social trading platform enables you to look into the components of professional traders. You get emails and other alerts when they are made so that you can go ahead and copy the trade on your own.
Getting into Peeptrade is free, and some of the professional investors will allow you to peep into their trades on a trial before you pay for the regular access.
Using the MQL5 website is a little unusual when it comes to social trading. You’ll have to set up the MetaTrader platform, using either MT4 or MT5. Because this is a widespread platform, there’s a possibility your broker also uses it.
The MQL5 website has an active forum that you can use to get more information about forex trading and engage with the community. It’s also logical to subscribe to signals, so you get them automatically.
10. Ava trade
Avatrade is another of the most competent brokers in the industry that provide a great social trading infrastructure you can get involved in. They have experience of more than a decade in the sector with the Irish-based broker having launched in 2006.
Social trading facilitates copy trading, it has linked up with ZuluTrade who are themselves one of the biggest trading platforms in social trading. It is fast and easy to link your AvaTrade account with ZuluTrade because of their partnership.