So, you have decided you want to sign up with Collective2 for copy and social trading. Great choice.
If you have not already read our collective2 review then it is a great place to start.
Here we will be looking at the Collective2 forex trading options and guiding you through the top forex brokers that the platform supports so that you can make the very best choice based on your trading needs.
Let’s take a look.
Table of contents
Does Collective2 support Forex Trading?
Collective2 is a copy and social trading platform which supports different types of trading. These include forex trading, alongside stocks, futures, and options trading. When it comes to forex trading, this depends on the broker you choose. If they offer forex trading, then you’ll most likely be able to trade forex through C2.
Collective2 Supported Forex Brokers
While Collective2 supports a wide range of brokers in general, here is a look at a few of the most popular forex brokers that they provide support for.
Oanda is a very popular and well-respected forex broker based in the US. They operate as a market maker-style broker but still offer very competitive conditions for trading. This means that trading costs are kept very low and the spread is always competitive starting from 0.6 pips.
Oanda is also hugely accessible since they do not require any minimum deposit amount. This makes them an ideal choice for many new or experienced traders with those more experienced traders liking the fact that you can trade more than 70 forex currency pairs with the broker. Forex trading is available for US clients of Oanda through the C2 Platform.
FXCM is another highly experienced, and very well-trusted forex broker in the sector. They were founded in 1999 in the US and have been around ever since. They now have regulatory oversight in place from the FCA, ASIC, and FSCA.
Again FXCM caters for a very low and accessible minimum deposit amount of just $50 if you are a UK or non-EU trader while also offering spreads that are as low as possible and start from 1.3 pips depending on the asset traded. You will find a total of 39 forex currency pairs available for trading at FXCM and again these can be traded through the C2 Platform.
Interactive Brokers is one of the best-known US brokers with excellent regulation in place both in the United States and around the world. They have vast experience in the industry and provide a great all-around service with more than 100 currency pairs available for you to trade in.
As with the other brokers mentioned, costs are kept to a minimum at IB and the spread remains highly competitive starting from just 0.1 pips depending on the asset. Forex trading is available only for Canadian and UK clients through C2.
In the table below you will find a summary of the key deposit and spread information from each forex broker mentioned:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
|C2 Forex Brokers*||Minimum Deposit**||Spreads from||Visit the broker|
|Oanda||$0||0.6 pips||Visit Oanda|
|FXCM||$50||1.3 pips||Visit FXCM|
|Interactive Brokers||$2000||0.1 pips||Visit Interactive Brokers|
*Forex trading availability could depend on your location
**Minimum deposit could vary depending on your location or on your account choice
Copy forex signals from Strategy Managers
One of the key features of C2 like with other copy trading platforms, is that you can register as an investor and copy signals and strategies you are interested in that are provided by strategy managers.
There are 4 different plans you can choose from as an investor. The pricing of these plans range from $49 to $299 monthly and each will have different features though AutoTrading is possible with all plans. When it comes to the individual strategies, you will also have to subscribe to these, though many come with a free 7-day trial period.
Overall, you will find a vast number of forex trading systems and strategies accessible through the C2 platform which you can subscribe to, manually follow, or automate through the AutoTrade feature which we recommend. You will see a selection of these in the image below.
Note that these results are based on simulated or hypothetical performance results which present limitations and do not involve financial risks. Unlike the results which are shown in an actual performance record, these results do not refer to actual trading. No representation is being made that any account will or is likely to achieve profits or losses similar to the ones shown.
About the Author
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.
A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.
He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.