Top 10 Best Social Trading Networks 2020 review

Filippo Last Updated: May 2020 8 min read
Top Rated:

Are you looking for the best Social Trading network? Don’t you know which one to choose among the various possibilities?

(Or maybe you want to better understand What is Social Trading and how it works?)

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.

(Want to take a look instead at some classic forex brokers? See our best forex broker ranking)

Plus, at the end of this post you will find all the free 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.

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Top 10 best Social Trading Platforms and Networks

Here are our top 10 best Social Trading Platforms and Networks.

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75% of retail investor accounts lose money

1 eToro

The social trading 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 eToro‘s 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.

77
Rated: Excellent
security 93
cost 64
trading 71
education 72

Platforms: Proprietary Web Platform Regulations: FCA, CFTC, MIFID-ESMA, ASIC, CYSEC Minimum Deposit:

2 ZuluTrade

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 the social trading broker 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. Not sure about it? Clarify your ideas with a free demo account.

70
Rated: Medium
security 96
cost 61
trading 49
education 69

Platforms: ZuluTrade, Proprietary Web Platform Regulations: MIFID-ESMA Minimum Deposit: $300
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76.69% of retail investor accounts lose money

3 NAGA Trader

Originally born as an App for smartphones only, SwipeStox, called the “Tinder of Trading”, soon became one of the main players in the Social Trading universe. In 2017, the leaders of the SwipeStox management team began a profound expansion and rebranding plan for all their services. SwipeStox became Naga Trader, one of the platforms of the Naga Group AG.

Naga Trader offers social networking, social trading, copy trading, as well as innovative investment services, such as the NAGA CYBO, or the NAGA Portfolios. The NAGA group is also extremely active in the universe of cryptocurrencies and blockchain, so much so that they even created their own crypto coin, the Naga Coin (NGC). NAGA Coin can even be used as the base currency of your account, with numerous economic advantages, especially at the trading level (lower commissions).

71
Rated: Excellent
security 95
cost 56
trading 53
education 79

Platforms: Proprietary Web Platform Regulations: FCA, MIFID-ESMA, CYSEC Minimum Deposit:
Open an account
61% of retail investor accounts lose money

4 Darwinex

One 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.

73
Rated: Excellent
security 96
cost 51
trading 61
education 76

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, Proprietary Desktop Platform Regulations: FCA, MIFID-ESMA Minimum Deposit: $500

Other types of Social Trading platforms

5. Collective2

Collective2 is one of our featured best forex brokers for social trading. They are a top choice for those based in the US who may be interested in copy or social trading. When it comes to regulation, they are overseen by the well-trusted NFA in the US. This broker differs from many others in the sector since it does not charge a fee for forex trading. Instead, traders can choose from one of four monthly plans. The prices of these range from $49 to $299 a month and you can save as much as 15% by opting for an annual plan. Within each tier of plans, the higher your investment, the more forex trading strategies will be made available to follow. These strategies originate from the trading platform itself where they are trader reviewed as opposed to directly copying other traders.

6. Trade 360

Trade 360 are another of the top social trading brokers in the industry. They are fully regulated and ESMA compliant with their HQ based in Cyprus. They are another social trading broker that offers a range of account choices to you as a forex trader. You can choose from a total of 6 distinct account types. This includes an account type which is specifically designed to facilitate trading in gold. With Trade 360, you will also find that the minimum deposit ranges from $500 to $50,000 depending on the account type. Forex trading spreads start from 3 pips ono many of the forex currency pairs available and there is a wide range in choices of CFDs, with more than 100 open to trade. Trading with this broker takes place on MT5 or WebTrader platforms.

7. iSystems

iSystems are a European copy and social trading platform that has the ability to facilitate automated trading for traders who are operating under brokers where the platform and its technology is employed. The iSystems platform mainly focuses on trading of stocks and futures and therefore is mainly featured among brokers who offer trading in these markets as a primary product to traders. With that said, they have gained a lot of traction and popularity within the industry. As a trader, you can now utilize the iSystems platform or its technology with more than 30 top stock brokers. These major brokers include the likes of NinjaTrader and Halifax among others. If you are trading stocks or futures, it is likely you will come across the iSystems platform.

8. FXJunction

FxJunction is a Social Trading platform where users can create their own profile and connect their MT4 or MT5 platforms. The primary focus of FxJuction is the traders’ community, a place where to share ideas and trading strategies.

In addition to this, FxJuction also offers a Copy Trading system through which to replicate the performance of the signal providers. FxJunction is not a broker but a cross-platform too, but its connection system is not through supported brokers, but through MT4/5. This means that you can keep your current broker, avoid having to open a new account, and simply connect your metatrader platform.

9. MyFxBook Autotrade

Opened in 2011, Myfxbook soon became famous as one of the best communities for professional web trader. In Myfxbook traders can link all their trading accounts under a single personal profile, and keep track of all their trading statistics in a professional and organized manner.

Myfxbook also offers an Autotrading service, called Myfxbook Autotrade. Myfxbook is not a broker, but a cross-broker platform, this means that to use the autotrading service you will have to open a new account with one of the many supported brokers. Technically speaking, Myfxbook Autotrade is more a Mirror Trading service. The strategies to copy from, in order to be admitted, must pass a list of precise requirements that increase their security.

10. Tradency

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.

How to Social Trade Like a Pro with the best Social Trading brokers

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:


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