Are you looking for the best Social Trading network? Don’t you know which one to choose among the various possibilities?
There are many Social Trading options out there, and their number continues to increase.
Here’s our TOP 10 of the best Social Trading platforms, with a little review in order to make you understand at a glance the main features of each one, plus some more insights for the most important.
There’s something to everyone’s liking.
Let’s start. Here’s the InvestinGoal Top 10 Best Social Trading Networks in the world.
Top 10 best Social Trading Platform
The broker eToro maybe has not been the first to delve into this new field, but for sure it has been the company that more than anyone has given shape, awareness and visibility to what we now know as Social Trading.
Today eToro, founded and still run by Yoni Assia, is a truly global investor community, where users have the opportunity to interact with each other as they would with a social network like Facebook. Thanks to news feeds, users can monitor and manually copy their favourite traders. Alternatively, the most interesting feature is surely the Copy Trading one, to copy them automatically in proportion, managing exposures and risk. Another bonus? A completely free and unlimited demo account.
Founded way back in 2007 by Leon Yohai, a well-known greek entrepreneur, ZuluTrade has always been at the forefront in this new sector, especially in Forex Social Trading. Recently it has also introduced the Binary Option Social Trading. Users have access to some social features to interact with Signal Providers, especially to read the comments left by other investors before them.
Where ZuluTrade however excels is in the Copy Trading function. You can search thousands of Signal Providers with a professional and advanced search tool, you can analyse in minute detail their strategy, and above all you can replicate their performance by totally customizing risk and money management. Undecided? Clarify your ideas with a free demo account.
Despite the relative youth of the platform, and despite the fact that the social aspect is not developed (users can’t interact nor with each other neither with the traders), the Ayondo platform earns our Top3 due to the payment system with which traders are remunerated.
Simply put, the more the traders operate safely, with precaution, and limiting risk and drawdowns, the more Ayondo rewards them by increasing the value of their commissions. It goes without saying that this system greatly stimulates the robustness of strategies and consequently the security of investors who decide to replicate them. A wide range of professional instruments to trade (including interest rates) and the ease of use of the platform make Ayondo a rising star in this sector.
In terms of Social Trading defined as the possibility for users to interact directly with each other and with the community (in constant growth), Tradeo has nothing to envy to the main and number one rival in the industry, eToro. Tradeo is a forex broker with a highly developed and full of social aspects online trading platform, such as the ability to directly see on the chart the orders and the signals of other traders.
With the Tradeo trading platform you can thus operate personally, but in a social way, or activate the Copy Trading function on your favourite trader in order to replicate their performance automatically. You can try everything with a very realistic and, above all, with no time limit demo account.
The newness that Darwinex introduced is the fact that the traders’ strategies are not shown, but are “hidden” within what is called a Darwin. In essence, the trader’s strategy becomes a real asset that the investor can buy and include in his portfolio. Then, the asset value increases due to earnings generated from the underlying strategy managed by the trader. The Darwins are continuously monitored by Darwinex itself, and the investor has access to sophisticated and automated risk control tools. Very interesting for those who feel themselves more as investors than traders.
FxPro SuperTrader is an innovative investment solution developed by FxPro, one of the leading brokers in the industry with more than 200,000 active customers. In this platform the social aspect is not developed, and everything points on the quality of the traders and on the Copy Trading and Mirror Trading services.
On FxPro SuperTrader you can find both trading strategies developed directly by FxPro, and others managed by professional traders who work with a mandatory real account and that had to pass a difficult strategy examination test. The only “problem” of this platform is the fact that it is not for every budget. The minimum capital required is in fact $ 2,000.
“Real Money, Real Trades, Real Time”. This is the slogan of the Signal Trader Social Trading platform. The reason for this slogan is simple. The traders from which you can copy the signals are very few, but each one of them, before being authorized, has been carefully examined, has shown to have a strategy with the stringent safety parameters, but above all, has started his own trading account with a minimum capital of 8,000 $, one of the highest required in the field. There are even some who trade with an account of $ 50,000.
Transparency is the main quality of Signal Trader, since you can see the actual amount of the Signal Provider account (one of the few to do so). Too bad for the limited number of traders. Last but not least, Signal Trader is definitely not suitable for everyone, since users who want to invest in it has to open the real account with 5000 $ minimum, even more than FxPro. The demo account you can open will be definitely useful.
Those that have been in the world of Forex for a while shall almost certainly know MyFxBook. This platform was created as a recording and automatic data analysis software, where every trader had the ability to connect his real forex trading account (over 300 supported brokers), letting MyFxBook record the performance, certifying the authenticity. In this way, traders can demonstrate their results to potential investors, or for any other reason.
Back in 2013 MyFxBook, following the general trend, launched the Social Trading function called Autotrade. You can access the service by opening a new account with one of the over 50 supported brokers for this function, but you can also test the platform with an unlimited demo account.
Interested in Social Trading only for Binary Options? Then Copyop might be the right solution for you. Copyop is run by the same company that runs Anyoption, one of the world leader in Binary Options. If you already have an account with Anyoption you can automatically sign in to Copyop.
The purpose of this platform is to make binary options even more simple, allowing each participant to copy or be copied (in fact every trader has to use a real account), or even just observe and be notified when a trader executes an order. The platform is well made, and is full of informative material, but some parts such as the vision of the trader’s performance and the options of money management are still at a basic level.
Founded in Austin, Texas by Juan Mendoza, a professional successful investor, currently CEO and founder, PeepTrade is a platform made more for investors than for traders. In this Social Trading platform investors can observe the performance of the so called Top Investors, and, if interested, they can “peep” the composition of their portfolio against a fixed monthly fee decided by the Top Investor himself. Top Investors are also classified on the basis of the tools they use most (Equity, Foreign Exchange, Fixed Income, Derivatives and Commodities) and their operating style (Aggressive, Income, and Risk Protection).
The social aspect is very developed, you can interact and discuss with the users about a wide range of instruments. However, the platform at the time does not allow investors to perform or replicate automatically orders. Lastly, Peeptrade has recently expanded the number of supported brokers, passing from one (Interactive Brokers) to over 1000.