Top 10 Best Social Trading Networks review

by | Mar 6, 2017 | Reviews | 8 comments

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 sites out there, and the number continues to increase.

Here’s our TOP 10 of the best Social Trading platforms and Copy 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 ones.

There’s something to everyone’s liking.

Plus, at the end of this post you will find all the resource we have prepared to help you Social Trade like a real pro with all the Social Trading sites you’ll find just now in our Top10.

Let’s start. Here’s the InvestinGoal Top 10 Best Social Trading Networks in the world.

Top 10 best Social Trading and Copy Trading Platforms

1. eToro

social trading network etoroThe 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.

Click here to try eToro

Read the full eToro Review

2. ZuluTrade

social trading network zulutradeFounded 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.

Click here to try ZuluTrade

Read the full ZuluTrade Review

3. Ayondo

social trading network ayondoDespite 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.

Click here to try Ayondo

Read the full Ayondo Review

4. Tradeo

social trading network tradeoIn 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.

Click here to try Tradeo

Read the full Tradeo Review

5. Darwinex

social trading network DarwinexOne of the newcomers in the global landscape of Social Trading, but interesting from the outset. Darwinex is a company founded by the Spanish Juan and Javier Colón Bolea, and Miguel Angel Gonzalez.

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.

Click here to try Darwinex

Read the full Darwinex Review

6. SwipeStox App

Called by many the “Tinder of Trading”, the SwipeStox app for Social Trading in 2016 has seen a real boom of download. 2017 seems to be as promising.

SwipeStox proposes a Social Trading model, in some ways, innovative. Essentially it works like a trading ideas incubator. Users can scroll through the trades executed by other users of the network, and save them, if they like them, by swiping them to the right, or otherwise discard them by swiping them to the left, just like with Tinder. Obviously, every trade can be copied with a simple click of the Copy button. SwipeStox also proposes an innovative Copy Trading service called CYBO, based on artificial intelligence technology.

Click here to try SwipeStox

Read the full SwipeStox Review

7. PeepTrade

social trading network peeptradeFounded 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.

Click here to try PeepTrade

8. MyDigiTrade

mydigitrade social tradingFounded in 2010, MyDigiTrade is a platform for copy trading created by independent traders. In terms of structure it is very similar to ZuluTrade. With MyDigiTrade, in fact, you can choose to open an account with one of the several supported brokers (among the best in the world), and then connect it to the platform to take advantage of the Copy Trading service. Or otherwise, if you already own a trading account with a partner broker, you can directly connect it in and start using the service.

MyDigiTrade offers a good service for the performance analysis, and even the money management tools allow a good level of control, although at the moment the number of signal providers to copy from is only about 200, a low number, but growing over time.

Click here to try MyDigiTrade

9. CopyOp

social trading network copyopInterested 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.

Click here to try Copyop

10. Tradency Mirror Trader

One of the absolute pioneers of this world, even before ZuluTrade and eToro. Tradency has launched the world of social trading, showing everybody how it was possible for users to automatically copy the strategies of other traders, without having to personally operate in the markets.

Tradency, however, has chosen not to travel the road that saw other brokers, like eToro and ZuluTrade, becoming actual real Social Networks. Tradency focused solely on what they call Mirror Trading and the related Mirror Trader platform. With the Mirror Trader users can access several automatic strategies (based on algorithms) generated by professional traders from around the world, and can decide, after assessing the performance, to replicate the signals into their own account. The only aspect that could be considered “social” is the possibility to show and share each user’s portfolio of strategies.

Click here to try the Mirror Trader

How to Social Trade Like a Pro

Now that you know all the best Social Trading sites where you can start to Social Trade, it’s time to discover how you can best do it.

Do you want to professionally Social Trade and increase your chance of success?

Well, here’s the deal.

InvestinGoal is simply full of contents, strategies and tools to help you Social Trade like a real pro with all the Social Trading sites we mentioned above.

Here you can find:

The search is over

InvestinGoal has all the things you need. Just navigate our website.

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8 Comments

  1. Amit

    Who is providing best income in month

    Reply
    • Filippo

      Hello Amit.

      Not really sure I’ve understood your question. Each Network is comprised of hundreds/thousands of traders, and each one of them produce its own income (that you can replicate). If you mean which network produce the best income considering all its traders as a whole, that’s an interesting question but I honestly don’t know, it’s really hard to tell considering the number of registered traders. Speaking about a new small reality like Peeptrade, with few traders at the moment, you might even find it by yourself. But with companies like eToro or ZuluTrade that’s really challening.

      Reply
  2. princeb

    hi

    do you recomment mql5?

    Reply
    • Filippo

      Hi Princeb

      I’m sorry but we have never tried it.

      Regards

      Reply
  3. Davinder Singh

    What’s the process for working with social trading nd how much we have to invest nd what’s type of work have to do. Please explain briefly. Thanks

    Reply
    • Filippo

      Hi Davinder.

      For our experience, the process for working with Social Trading is basically different from common forex retail trading, for example. In our opinion you have to reason in “investing” terms, not “trading”. We always think about building a portfolio, in these case a People-Based portfolio, but the basics are the same: choosing the right assets (traders), diversification, protection, correct money management. That’s why we have created all our free guides and ebooks, because we want to let people understand Social Trading is about “investing”, and you have to know how to do it properly. Here you can find them: https://investingoal.com/learn/ . In terms of how much to invest, it depends on which Social Trading network you chose, but in general terms, in our experience the less you invest the less options you have to diversify your portfolio.

      Regards

      Reply
  4. Oscar

    Hello, there seems to be a new kid on the block. Swipestox, have you tried that one out yet?

    Reply
    • Filippo

      Hi Oscar.
      This list is about to be updated, and most probably SwipeStox will be part of it because we really like it.
      Cheers

      Reply

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