Is it possible to make money in the financial markets without any special knowledge? This question is of interest to many newcomers. Today we consider this newfangled phenomenon in the world of finance as a copy trading.
What is Copy Trading?Copy trading, also known as mirror or social trading is automated copying system of successful traders, who consistently achieved good results over a long period of time. Usually such traders are called "leaders".
Social trading allows talented traders to stand out from the crowd and show yourself and strategy to a wide audience. In addition, it helps private traders to hone their skills and learn from the experienced colleagues.
The main task is to unite traders and give them the opportunity to share their ideas and experiences in such a delicate matter – trade in the financial markets.
The platform has a very user friendly interface. In order to become a full participant in the community, just create your account.
In order to trade professionally, it is not necessary to be a professional trader with a large amount of knowledge and skills. Not necessarily to follow the financial news, analyze them, come up with a trading strategy and then to implement it and in case of failure, change strategy and monitor its success in the changed market conditions. All this, thanks to social trading, it becomes optional because you can just choose and copy trades by experienced traders who research the news, analyze markets and come up with profitable strategies.
- Are you a beginner? Choose the experienced and successful traders. Study their trading style and copy their trades.
- Are you an experienced trader? Capitalize on this!
- Does your trading system have an excellent result? Your trades will be copied, receive commissions for your lucrative trade.
Best Forex Social(Copy) Networks & Platforms: Full Review
eToro.com Social Network.
eToro is the world's largest social investment network. Moreover, this is the first community, which involves only the real traders that provides complete transparency of the effectiveness of their trades and trading history. Demo accounts are forbidden here, therefore, so opening one or another position, the investor runs the risk of his own money.
eToro network gives access to different possibilities of committing social investment. Whatever your financial goals or style, social investment will certainly help you succeed.
- Choose the leading traders and copy their trades automatically, study their methods of trading.
- Keep tracking of trades using simple tools and get information about everything traders do.
- Interact with other traders.
- Collect subscribers in eToro network.
- Write to the eToro blog to gain additional followers.
- Join for the "Popular investors" program and receive a commission for that other traders copy your trades.
- Watch for other traders do to identify additional opportunities.
Zulutrade.com Social Network.
ZuluTrade is a social trading network that uses signals of the professional traders in the Forex market from supported brokers.
There was a time when trading in the foreign exchange market has been a headache. But not now! You do not need to specifically study or monitor the market, because hundreds of well-known financial experts from around the world are doing it for you. All you need to do is select Signal Providers and ZuluTrade quickly converts their advice into real trades in your trading account.
Copyop.com Social Network.
Copyop is a social trading network operated by Ouroboros and based on the trading technology of anyoption, the first and biggest online binary trading website. In addition Copyop platform it is a universal and very convenient place for daily trading. It allows you to always be aware of what is happening in global financial markets events. The events calendar was created on the platform, as well as sections of news and authoritative expert opinion. The site also has a countdown timer until the next important event. Moreover, during the day you can receive several messages, comments from other participants containing valuable information.
Signaltrader.com Social Network.
Automated copy trading solution for traders in the Financial Markets and provides fast, accurate, and a user-friendly platform that allows all traders to automatically execute trades based on top performing Signal providers. All traders have access to a 30 day FREE demo account with Signal Trader, in order to truly evaluate Signal Trader abilities.
Signal Trader Pros:
- Control Trades in real-time.
- Have trades automatically be placed on your MT4 trading Accounts.
- Establish a risk management strategy by having full control over your mirroring ratios.
- Access your Signal Trader account from any mobile or desktop device.
- Monitor all your trading activity VIA email.
Alpari PAMM Account Portfolios
Alpari PAMM Account Portfolios Rating bring together individual PAMM Accounts run by different managers, providing the ideal opportunity to maximize your earning potential while minimizing your risk. The portfolio service is an excellent ready-made investment solution, where you can invest across multiple PAMM Accounts with a single click.
Becoming a member Alpari, the trader receives access to monitoring the actual trades, so that it can discover new investment ideas. Traders also have the opportunity to share their own experiences and, possibly, to win the vocation.
CopyFx.com by Roboforex
RoboForex presents CopyFX, the Company’s copy trading investment platform. CopyFX platform provides clients with an opportunity not only to simplify the trading process and decrease risks, but to receive additional profit for their experience and skills to predict market behavior as well.
In addition to trading ideas, CopyFx is a universal and very convenient place for day trading. It allows you to always be aware of what is happening in the global financial markets: events calendar and the news, authoritative expert opinion.
ForexCopy System by InstaForex
The ForexCopy system by InstaForex is an innovative service enabling following successful Forex traders and copying their trades online on a set ratio.
Tradeo.com Social Network.
Trade Forex (FX), Stocks (CFDs), Commodities, and Indices. Tradeo is a Social Trading Network & Brokerage - tailored for your success.
Ayondo.com Social Trading
ayondo’s Next Generation Social Trading technology lets you follow and copy the actions of expert ‘Top Traders’ automatically. Build your own unique portfolio of up to 5 Top Traders in just a few clicks.
Forex4you PAMM Account Rating
PAMM service gives you possibility to participate in one of the most profitable markets in the world – forex, without knowing anything about it or taking direct actions, but by investing funds with one or more money managers and in one or more trading strategies. Choose any of the traders and any of their offers to investors and receive your income automatically every week.
How to get started?
How to start making money with Social Networks? To do this, go to a small registration. After you will be asked to pass a virtual tour of the platform in which you will learn how to become a trader or copy the actions of expert. After the formed portfolio you will only have to observe how your deposit grows.
TOP copy traders you should follow for.
Track all the action is not possible, so the platform developed specific criteria for the selection of those traders, whose trades you want to monitor:
1. Profitableness. Since the goal of any trader is the maximum profit, the first thing is to pay attention to that - the result of trade. On the website, you only have to open the window "traders", which presents a list of all managers and their profitability.
2. Risks. Profit is not the only indicator because if trading is too high risks, any profits can quickly turn into a loss. Therefore, when analyzing the strategy, the investor should pay attention to the "maximum drawdown" parameter and use the filter to select the appropriate value.
3. The duration of trade. Another parameter that is appropriate to control - the long-term strategy. Indeed, the trader can show the results in a short period of time; however, for example, trader’s actions can result to losses. This is the filter "validity of the account".
In this article you have learned that...
- Social trading is a process that allows you to automatically copy trades, carried out of successful traders, and to simulate the results directly to your trading account.
- Social trading allows you to make a profit by using the experience of successful traders, also learn the trading.
- Following for several leaders can also help to diversify the portfolio and to compensate for periodic losses from other investments.
- There can be problems if you follow for a leader who risks too much in their trades.