Forex for a trader
Forex social trading review

Forex social trading reviewSocial Trading Network and Platform Reviews. Before reading through our reviews of each social trading network please note that we’re an independent website and that we have live accounts with our own personal funds invested with all the networks we review . I. e. they’re not based on playing around with a demo application or looking at the social trading network’s marketing materials. Look at our SocialTradingGuru. com Reviews Guarantee for more info. 5m+ Professional Traders to Copy from $5k CryptoFund $100,000 Demo Account! We’re currently only reviewing social trading networks which allow investors to auto-trade, i. e. follow and automatically follow the trades from other traders. The focus in our reviews is more on the auto-trading capability and performance, though we also touch on the social networking features. We’ve included images about the different platform interfaces which we’ll try and keep up-to-date as they evolve. Our network and platform reviews are targeted both at total novice and more experienced traders. We try to explain most concepts within the review, though very novice traders may want to refer to our social trading terminology section in case a term if not clear.

The SocialTradingGuru. com reviews are solely based on our own experience and opinions. We appreciate that these may differ from your own and therefore openly ask you to add your constructive comments to the review pages. When changes are made or new features released on the social trading networks we will make updates to these review pages and our opinions may change. I. e. the reviews are not static and as such some of the older comments may be slightly out of sync. Currently we’ve reviewed the ZuluTrade, eToro, Tradency Mirror Trader, Ayondo, Tradeo, myfxbook AutoTrader, Darwinex, Copyop and Gallant Trade Copier social trading networks . We also did Currensee, FxPro SuperTrader, Signal Trader and ZipSignals but those networks are no longer available. Below is a table summarising the pros and cons for each of these networks. However, we suggest you read through the full review, or at least the first page summarising “our opinion”, for each of them. Best Social Trading Platform - 2018. Forex social trading is a social environment that offers interaction between active Forex traders in real time. It provides significant benefits of sharing knowledge with others and allows traders to trade online with the help of others by comparing and copying their trades, techniques and strategies. With the best social trading platforms offered today, newbie traders can follow expert traders while those with more experience can improve their own trading by selecting and subscribing to one of many Forex social trading platforms available in the market today. Social trading is a trend that has been around for many years but it has gained in popularity of late due to increased trading activity and the need by Forex traders to depend on the knowledge and experience of more savvy investors.

The idea of being connected with other Forex traders on the network is attractive to everyone. Before the advent of social trading, investors had to rely on fundamental or technical analysis to form their investment decisions. Using Forex social trading investors and traders are able to integrate into their investment decision-making process with social indicators from trading data-feeds of other traders. The best social trading platforms allow traders to interact with others, monitor their trades and then decide whether they are worth duplicating. By copying trades, traders can learn which strategies work and which do not work. Many of the top social trading platforms also include copy-trading, sometimes referred to as auto-trading, capabilities in their social platforms where investors can automatically copy or mirror the trades from other traders on the network in their own trading account. Forex social trading brokers display a real time listing of other traders’ activities and achievements directly on their websites in order to enhance a trader’s success. Some social trading platforms, such as the Sirix Social Network, allow a trader to select to follow a specific master trader who already has a long list of copiers. When the master trader opens a new position, so do all of his followers thus widening the trader’s trading opportunities. Choosing the best Social Trading Platform. Since social trading platforms are based on the ability to follow and copy as many traders as possible worldwide, the best social trading ¬¬platforms would be those that offer the largest and most active social trading community of Forex traders. They would also include those Forex brokers that offer the most efficient copy trading capabilities since this would allow traders to place more trades at any given time. Lastly, the ability to synchronize order executions between several trading accounts (between a signal provider and followers) is another feature that can push a social trader broker to the top of the rankings. Check out the list below to see who we recommend as the best social trading providers.

Forex Social Trading. If you’re considering opening a social Forex trading account, you may be overwhelmed by all of the traders you can follow – but you shouldn’t be. When it comes to choosing a trade leader (or leaders) to follow, the more options you have, the more likely you’ll be to find a successful trader that will lead you to profitability. We’ve aggregated a list of some of the most successful social traders to help you get started and to make the process as easy as possible. Forex trading is complicated enough – choosing a trade leader shouldn’t have to be. Top Traders To CopyFollow. More About Social Trading. Social trading is a unique form of currency trading that is ideal both new and experienced traders who are looking to interact with other people who also trade Forex regularly. For novice and nervous traders, social trading allows traders to copy others so that they can learn the strategies and get advice from those more experienced than they are. For advanced traders, social trading provides an outlet for teaching and a way to start a conversation about their trade strategies which can fine-tune the system and lead to greater success. Many social trading platforms also offer financial incentives for trade leaders who have a lot of active followers. What is Social Trading.

Social trading is the term used to describe Forex trading that is done in a social setting, wherein the traders can correspond with each other via the trading platform to get advice, ideas and trade suggestions while they automatically copy ideas from other Forex traders. Social trading can be done directly through the trading platform or across social media platforms, depending on the broker. Social Trading Platforms. Though all social trading platforms are based upon the idea that traders can benefit from following others, there are actually several different types of platforms and dozens of different brokers that offer these services. There are three basic types of social trading platforms. Screenshots of eToro social platforms. Copy trading allows you to copy any other trader's trades directly into your trading platform. In straight copy trading most traders make decisions to follow based upon the trade strategies employed by the trade leaders. Social trading varies slightly from traditional copy trading because it adds a layer of social data to encourage traders to choose a trade leader based on aggregated social data rather than trade strategy alone. In social trading platforms traders can also interact with each other to better understand the trading process and to enhance their knowledge of the markets. Mirror trading enables traders to evaluate and follow specific trading strategies and signals from other traders.

With mirror trading, traders can build a strategy based upon back-tested strategies and can opt to implement the trades of multiple traders simultaneously if they are in keeping with the trader's overall strategy. Things to look for when choosing a Social Trading Platform? In a sense, choosing a social trading platform is slightly more complicated than choosing a regular Forex trading platform. In addition to looking at all the usual features, such as regulation, spreads, leverage and pairs offered, it's highly important to look for a platform that has an ample choice of traders to follow, and of course, traders that you feel comfortable with. Other features that you should take into consideration. Minimum Deposit: - Though many social trading platforms have a low minimum deposit (perhaps as low as $100), it is important to consider that you will likely need significantly more capital in order to test different trade leaders' strategies and to find which once work best for you. Currency Paris: - Not every broker offers trading access to the same currency pairs. If your trading strategy is focused around a specific pair or group of pairs, make sure that it is available and that an ample number of trade leaders trade that pair so that you won't feel compelled to follow a trader that doesn't utilize your preferred trading strategies. Regulation: - There are many new social trading Forex brokers that are opening regularly but lack regulation that can protect your funds. Make sure to check the regulatory status of any potential social trading broker thoroughly before depositing. Charges, Spreads and Fees: - While there isn't usually a charge associated with copy trading, there is almost certainly going to be a fee associated with the trade execution. In addition to the spreads which are charged by every Forex broker, some brokers also have withdrawal charges and other hidden fees (such as overnight fees) that can impact the income you'll enjoy from each trade. Picking a Trader To Follow. Just as there are many Forex trading strategies, there are many strategies to consider when picking a trader to follow. When it comes to social Forex trading the most obvious way to choose a trade leader is to choose one that has the highest income or the one that has the most followers (or, perhaps, a combination of both).

However, it is just as important to consider what the trader's trading strategy is, what the risk to reward ratio is and how often trades are placed (among other considerations). If you're not the type of trader that can handle dozens of trades per week, look for a trade leader that makes fewer (and possibly more well-thought-out) trades. If you're looking for someone who uses specific strategies or trades specific pairs, it's worth researching trade leaders that make these offers on different social trading platforms so that you'll feel confident that you're making the right decision. Don’t feel obligated to look for trade leaders only in one specific platform – it may be that the leader you're looking for is not where you'd most expect it. If you're opting for a social trading platform rather than just a Forex copy trading opportunity, also consider the responsiveness of a potential trade leader. Do you feel confident in his or her abilities? Does the trade leader answer your questions appropriately? In a timely manner? When embarking upon a social trading plan, trust is a critical factor, so take time to really get a feel for the trade leaders and what they offer. Social Trading Risks: Don't Be a Foolish Follower. It's easy to become an over-eager trader when embarking upon social trading. You may get caught up in the idea that 'everyone is doing it', and that you can or should do it too. But this peer pressure is the biggest danger – and the one that is most likely to turn you into a foolish follower rather than an intelligent copy trader.

When opting to try Forex social trading platforms, stay focused by outlining your long term financial goals, specific trading strategies that you believe will be successful and not being afraid to realize that loss is normal on the way to profits. Just because a trade leader has more experience than you do doesn't mean he or she is immune to loss. Keeping a realistic understanding of what social trading offers will allow you to stay on course rather than getting swept up in the moment and heading for failure. Forex copy trading is a service through which traders can opt to implement the trades of more experienced or more successful traders. All Forex copy trading platforms allow their clients to automatically copy another trader's executed trade into their own trading platform. In most Forex copy trading platforms, all decisions made by the lead trader are copied into the client's platform. For example, any stop loss or take profit orders set by the lead trader will be implemented in the copier's platform as well. Trade copiers are able to disconnect from the leaders' trades as well if they wish. Forex copy trading is frequently referred to as social trading as it adds an interactive element to Forex trading which has traditionally been an independent pursuit.

There are hundreds of traders worldwide who have built effective Forex trading systems but haven't landed jobs as analysts for brokers or technical analysis websites. Forex social trading systems allow these traders to share their strategies and success with others in a personal, comfortable forum. In this respect, the advantage of social trading systems is unparalleled. On the other hand, social Forex trading also allows less-successful traders to broadcast their trades and to garner popular support – even if it isn't warranted. When evaluating whether a social trading system is right for you, consider whether you'll be able to separate fact from fiction and real success from one-time wonders so that you can find the real trade leaders to socialize with. . Find hundreds of trade leaders to copy now Find Top Traders To Copy Now. Most Visited Forex Broker Reviews. Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page.

While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly. Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly. Top 10 Best Social Trading Networks review. Huge community and innovative investment instruments.

* Your capital is at risk. Huge community and innovative investment instruments. Unlimited demo account Fully integrated broker Forex, Cryptocurrencies, Stocks, Indices, Commodities, ETFs Innovative Copy Funds for fund-style investments (including Crypto Fund) Easy to manage platform and portfolio All traders use Real Account. * Your capital is at risk. Professional level Copy Trading. Professional level Copy Trading. Unlimited demo account Advanced and professional tools for customization and money management Wide choice of brokers in addition to the best AAAFX (owned by ZuluTrade) Focused on Traders with good risk management. Focused on Traders with good risk management. Simplified Money Management Large number of CFDs. Innovative Social Trading concept. Innovative Social Trading concept. Highly professional platform Copy trading like shares in a investment fund. The “Tinder of Trading” The “Tinder of Trading” Fun to use but professional Born for mobile, now also includes web platform. InvestinGoal » Best Brokers » Best Social Trading Networks.

A re 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. 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 Platforms and Networks. 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 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 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.

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. 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 Colon 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. 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 app 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. 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. 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. Founded 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. 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. 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. 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: a Guide about eToro a Guide about ZuluTrade a Guide about Ayondo a list of the best Social Traders other guides in the Learn Section that will help you really make the best out of Social Trading a Social Trading blog to really go beyond the Social Trading meaning an in-depth Social Trading review section …and much more, like our SlideShare for example ?? InvestinGoal has all the things you need. Just navigate our website. Do you like what we offer? Then…

please give us a +1! Click the button below ?? Social Trading Broker Platform Review – eToro. Social trading is a fantastic way to invest in multiple asset classes effortlessly, without having to have years of trading experience and knowledge of the markets. Let’s take a look at the world’s leading social trading broker, eToro. Earn Money as a Popular Investor. Besides offering the perfect platform for investors to take advantage of, eToro also offers experienced traders the opportunity to become popular investors and earn a decent income in the form of commission and spread rebates based on the amount of money under management and the number of copyers. An example of impressive returns by a popular investor. You can view the different levels and rewards of the Popular Investor Program right here. Easy and Effective Investing. Effortless and ultra-effective investing has never been so easy.

In a few simple steps, you can start earning a steady return on your investment without having to stare at dozens of charts all day long, every day. Does an island holiday sound better than staring at charts all the time? Portfolio Diversification. Although there will always be risks associated with trading, these risks can be effectively mitigated in different ways on the eToro social trading platform, which include portfolio diversification between 5 asset classes and up to 100 different popular investors (simultaneously). Smart Performance Analysis. The great thing about following popular investors on the eToro platform is that you can investigate each individual trader’s performance with the help of an advanced analytical algorithm which calculates and displays important statistics of every popular investor’s trading. Besides calculating every trader’s profit or loss over different periods, this algorithm analyses the amount of risk taken during certain periods and combines this information to give every trader a risk rating. This risk rating is incredible because it is derived from several trading aspects, which include the particular trader’s choice of instruments, choice of leverage, the percentage of equity invested in a single instrument, and hedged positions, just to mention a few. This risk rating is expressed on a scale of 1-10 and indicates the percentage of equity that is risked in a single day. Here is a screenshot: eToro Risk Score Scale. For example, a risk score of 6 means that a trader risks on average between 3.9% and 5.4% of his account’s equity per day. Of course, your own portfolio’s risk is also rated with this smart algorithm, to provide you with a good idea of how much risk you’re exposed to and how certain actions (like copying certain popular investors) affect your risk rating. What a great tool! If you go into a popular investor’s profile to investigate his performance, one of the things you’ll see is the trader’s average risk score over the last 7 days. When investigating popular investors’ profiles, you will find all the other important information you need to wisely select the best traders. This includes statistics about how long this particular trader has been active on the eToro platform , his performance over this period, which instruments he mostly trades, the average holding time per trade, the amount of money under management, the number of copiers following him, and much other information. Access to a Large Community of Traders. What I really like about eToro , is that you can interact with many other traders, investors, and of course, the popular investors.

The efficiency with which the platform coordinates all its members’ interactions is absolutely phenomenal. eToro even facilitates text translation on its platform when traders of different nationalities need to communicate. This makes the whole trading experience easier, as well as educative. The interaction with the popular investors is really important because it promotes transparency and helps investors to evaluate the different popular investors before copying them. Virtual Practice Account. eToro offers traders a fantastic demo account which doesn’t expire. Although trading or copying traders on the platform is really easy, their virtual account is a really helpful tool with which you can familiarize yourself before executing trades on a live account. Wide Variety of Asset Classes. What I absolutely love about eToro, is that you can trade many more assets than which your typical forex broker offers. On the eToro platform , you can trade no less than 1071 different financial instruments, which is just unbelievable! If you like trading currencies, there are 47 pairs to choose from as well as most of the major cryptocurrencies, like Bitcoin, and Ethereum. If you prefer trading equities, you’ll be pleased to choose between 950 different shares listed on 8 of the major global exchanges. Index traders have a choice between 12 major equity indices, which include the Nikkei (one of the new instruments recently added to our forex signals service). Then you can also engage in different commodities (7) and exchange-traded funds (53). eToro’s Next Generation Investment Product – CopyFunds.

eToro is a true pioneer in the social trading industry. Their latest CopyFunds innovation is really worth mentioning in this review. I just watched a video by the CEO and founder , Mr. Yoni Assia. The founder and CEO of eToro , Mr. Yoni Assia. To me, it was an eye-opening video which testifies of the professionalism and magnitude of eToro . In this video, Mr. Assia explains how their new product, CopyFunds, works: eToro CopyFunds Video. The minimum investment amount in CopyFunds is $5000. “CopyFunds operate like multiple traders, all working for you at the same time. As such, there are many underlying positions that are opened on your behalf. For that reason, the minimum amount needed to invest in CopyFunds is $5,000.” – eToro . “You can invest in two types of CopyFunds: Top Trader Copy Funds which comprise the best performing and most sustainable traders on eToro, and Market CopyFunds that bundle together CFD stocks, commodities or ETFs under one chosen market strategy. CopyFunds™ aims to help investors minimize long-term risk and promote opportunities for growth, by taking copy trading to the next level and creating diversified investments.’’ – eToro .

When it comes to customer support, eToro makes a really good impression. When I first opened an account with them, a friendly lady named Rachel Woods called me within a few hours to find out if I needed any assistance of any sort. Of course, I had a ton of questions to ask her. I don’t think it was an average customer call for her, but she was really patient, professional, and helpful. The eToro Trading Academy. The eToro Trading Academy. Whether you’re a beginner or a seasoned trader, eT oro offers excellent training material to teach you how to maximize your trading profits and enhance your trading skills. eToro’s live and recorded webinars hosted by its trading experts are a great way to accumulate valuable trading tips. Their financial trading eCourse and trading videos are also freely available to anyone interested in taking on the markets. The only fees you’ll pay when trading is the spread and overnight fees. eToro’s spread is typically a bit wider than some of the leading forex brokers. This is to compensate for the commissions paid to the popular investors for their services . Of course, rollover can be earned on certain instruments, just like with your average forex broker, and there is no commission on any trades. Minimum Position Sizes. The minimum amounts required (with maximum leverage used) to open trades on the platform are as follows: Stocks: $50. Major currencies: $25. Other Currencies: Between $25 and $500. Bitcoin and ether: $250. Commodities: between $25 (e. g. gold and crude oil) and $100. Indices: $200, with the exception of China 50 and USDollar which require $500. The minimum lot size offered on currency pairs is 10,000 (one mini lot). That is ten times larger than what the average retail broker offers. This is something I personally don’t like about the platform because it forces small traders to expose themselves to more risk than appropriate.

For example, if a small trader deposited $300, he or she would risk 25% of their entire account if they traded the minimum position size (10,000) on the GBPUSD with a stop loss of 75 pips. This makes trading with a small account impractical and very risky. However, when you’re copying a popular investor, the minimum trade amount is $1. Also, the minimum amount you can allocate to each popular investor is $100. This is a brilliant feature of eToro and allows small investors to effectively copy popular investors without the limitation of the typical $25 (on certain instruments only) required per trade. Naturally, I can’t cover each and every aspect of eToro in this article but I trust this information gives you a good idea of the features you can enjoy with this phenomenal broker. If I needed to be as critical as possible, I would say that the trading platform lacks some of the advanced features of traditional forex trading platforms and is slightly less user-friendly in terms of order execution and management, and perhaps one or two other small functions. However, eToro has many state-of-the-art features which you won’t find with other brokers or their platforms. Also, algorithmic trading is becoming increasingly popular. At the moment it doesn’t facilitate algorithmic trading which may be perceived by some traders as a shortcoming. Perhaps they will incorporate algorithmic trading at some stage, which will add some flavor to its trading experience. The numerous advantages offered by eToro definitely outweigh these minor shortcomings by far, however. I’m really impressed with how easy and cheap it is to copy different traders across the globe. I also like the tools and information by which you can thoroughly analyze each trader’s performance before deciding whether you want to copy them or not. Ultra-effective investing has never been so easy! All things considered, I have to compliment Mr. Yoni Assia and his team for developing an absolutely incredible social trading platform. I’ve had a great experience in using it myself, and I can recommend eToro to anyone who would like to trade the markets, become a popular investor or copy some of these popular investors.

Binary Options Reports. eToro Review, SCAM Social Trading and Forex Platform Or Legit? eToro Review, SCAM Social Trading and Forex Platform Or Legit? Welcome to our eToro social trading and Forex software official scam review and investigation. We have received multiple queries about social trading, copying trades, and following expert traders. So naturally we decided to take a look and examine this popular Forex trading platform to see what benefits it holds, if you can really make money through the system, and whether or not this system is genuine or just another financial scam which should be blacklisted. Our results may surprise you so keep reading to see if eToro steals your money or worthy. Official Website, Login Page, & Members Area : etoro. com eToro Review: Executive Overview With more than 4 million customers currently trading within their platform, it’s not hard to see why eToro is a big name getting lots of attention. Since its updated version was released in 2015, eToro has been gaining even more ground. With one easy to follow platform, investors can manage, trade, and broker all their investments from a single interface without having to sign up for additional services.

Who is Behind the Company? According to Wikipedia eToro is a “social trading and multi asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom”. It was founded in 2007 by the CEO Yoni Assia and David Ring and has around 350 employees across the world. What is eToro & Does it Really Work eToro is a social trading platform that has woven flexibility into the makeup of its system to ensure an easier, faster, and more streamlined approach to trading. Their system includes social trading, so even if you’ve never made a trade in your life or don’t know where to start, you can actually make money on the stock market by following social trends and industry experts’ advice on what to trade and when. As the world’s largest social trading network, eToro excels at giving everyone a fair chance to maximize their stakes in the market. Transparency eToro’s entire platform is built around making trading accessible to everyone. They’ve designed their system to be as user-friendly and transparent as possible. Terms are carefully explained, tutorials are readily available, and policies are straightforward and consistent throughout the site.

What’s more, swap rates are regularly published on eToro’s site. Built-In Strategies In addition to the standard strategies available on the site, eToro has two unique built-in strategies investors can try: Market Copy Funds : This is a complex algorithm that builds off of themes and preferences traders set themselves. These run on auto-pilot (i. e. without human intervention) once you’ve set the preferences. Top Trader Copy Funds : This follows the top traders in the network and makes investments according to their patterns. Robot Assets Among other assets, eToro traders can invest in pairs and cryptocurrencies such as: EURUSD USDJPY GBPUSD EURJPY AUDUSD USDCHF USDCAD EURGBP Ethereum Bitcoin. Minimum Deposit and Trade Amount The initial minimum trade begins at $50-$100, depending on which region you are trading from and the minimum initial investment (deposit) is $50. Withdrawing Money Cashing out is super easy. Once your account is verified and all documents have arrived you usually receive your payment in a matter of 3-5 business days. To fund an account you can use most major credit cards including Skrill (Moneybookers), Neteller, Paypal , and Wire Transfers. eToro Social Trading Detailed Review The eToro site has incorporated a whole suite of tools specifically for beginner traders who haven’t gotten their footing in the market yet; tools like the preset leverage gauge will help beginners to understand the possible gains and losses of a particular trade so that the moves they make aren’t theoretical but can actually be seen in real-life terms. And while eToro designed its system with the new traders in mind, weathered pros have also found a comfortable place within the platform. The eToro CopyFunds platform also allows traders to copy what they refer to as Popular Investors, another term for experts in the field. By following the trends and decisions of experienced traders, newcomers to the industry can make a profit without having to learn all the complexities involved. (Also, through the eToro trade copier venue, popular investors are rewarded for sharing their expertise, making this market an effortless second income for veteran traders.) Another angle that new and veteran traders will enjoy is the live chat function.

People can interact with expert traders and peers instantaneously through direct chat windows or public discussion boards to glean valuable, knowledgeable advice on what the best trades of the day are. Regulation and Certifications: Etoro is licensed and regulated in various jurisdictions. eToro (Europe) Ltd ., a registered Cypriot Investment Firm (CIF), business number HE20058 and also a UK regulated exchange and has”given permission to provide regulated products and services” according to UK law. US Traders are not accepted. CySec : License numbers 10910 FCA : License Number 583263. Simultaneous Trading eToro is structured so that traders can have multiple trades running simultaneously. In fact, many copy trades are set up so that they can run for several days or weeks, so an investor can have multiple trades running concomitantly. I Got Scammed Before – How’s This System Different? Unfortunately, in the world of online trading many con artists operate freely. Fake apps are designed to look like legit trading robots, when in fact they are run by thieves who are just trying to steal your money. But with fake reviews, fake testimonials, and fabrications sprinkled across seemingly “honest review sites”, how can you tell what’s spam and what’s not? Here are a few things to look out for? Complaints: While every business garners a few frustrated customers, if an auto-trader is getting an overwhelming number of complaints from users, it is a sign that this site should be blacklisted. Complaints include but are not restricted to any form of hyped-up or exaggerated claims of easy money, inflated bank accounts, misleading or deceptive information (false advertising), one-sided or irregular broker policies, and lastly customer service which is either unprofessional, pushy, or just insincere. Fraudulent Software: The software does not do what the broker claims it should. Unethical Affiliate Marketers : If someone is using very aggressive sales tactics, especially if your hear something like “make an easy million from the comfort of your own home”, it’s generally a sign that something fishy is going on behind the scenes. Conversely, the best platforms in which to invest will offer quality services such as a demo account, transparent policies, and consistent answerspolicies across the board. Look for these tell-tale signals along with accuracy levels as advertised to know where your investments will be most profitable.

So while we know for a fact that there will always be con artists out there to make a quick buck at someone else’s expense, at times it can be difficult to spot. However, in this case eToro is a trustworthy platform and an exception rather than the rule. Forex Robots If you are looking for Forex Robots or EA’s (Expert Advisers) we have compiled a short list of two systems which are currently market leaders. The first is the sRs Trend Rider 2.0 By Vladimir Ribakov, and the second is Wall Street Forex Robot 2.0 Evolution. Both systems offer an amazing service and recognized as market leaders in the automated Forex trading niche. Summary & Conclusions The eToro social trading software and trade copier is a reliable solution that comes highly recommended by the vast majority of authority websites and blogs covering the social trading niche. There is a general consensus that after being tried and tested for quality service this platform delivers, and therefore should not be considered to be a SCAM or blacklisted. It offers an easy to use solution to the complicated trading market, and provides a wide variety of tools, advice, and information for both beginners and long-time investors. The eToro social trading platform allows everyone to take advantage of popular investors’ decisions, and makes the entire process smooth, simple, and profitable. With a mobile platform that is fully responsive as well, eToro certainly climbs to the top of our list for excellent trading robots software. For more information don’t forget to oin our Facebook Page and YouTube channel and get informed. Forex Auto Trading Copy Trading Mirror Trading.

Monday, April 2nd, 2018. The ForexBrokers. com annual review is among the most cited in the industry . With over 83,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Industry leaders trust us because our rigorous testing is totally independent and 100% unbiased. The rise of social trading – also known as copy trading, mirror trading, or auto trading – has been ongoing for over a decade. Thanks to social media and an increasingly faster web, financial news and market analysis are shared at lightning speed. The idea of social trading is simple: use technology to copy the real-time forex trades (forex signals) of other live investors (forex trading system providers) you want to follow, so that every time they trade you are able to replicate (copy) their trades in your own account. Best Forex Brokers for Social Copy Trading. Based on over 70 different variables, here is are the top seven forex brokerages for copy trading. eToro - 5 Stars Pepperstone - 4.5 Stars Darwinex - 4.5 Stars FXCM - 4 Stars Dukascopy Bank - 3 Stars Vantage FX - 3 Stars AvaTrade - 3 Stars. Without social trading technology, the act of copy trading would be considered a managed account and require a power of attorney.

However, thanks to careful language and ever evolving technology, many regulators consider social trading self-directed as the client must decide who to copy. It’s important to note that not all trading platforms with social features provide copy trading. Many of the early pioneers in social trading technology started out first as third-party platform developers, such as Tradency, ZuluTrade, and eToro. While some of these firms are still independent service providers (ISPs), eToro became its own broker, for example. From the 20 international forex brokers we reviewed for copy trading, eToro is our top pick for 2017 as it has continued to innovate with the latest launch of its next generation eToro platform, which delivers an impressive user experience packed in a modern web-based user interface. eToro took it a step further this year with the launch of its Crypto CopyFunds offering that caters to cryptocurrency investors. Launched in 2017, CopyFunds groups together the best forex traders for other investors to follow by copying each CopyFund, helping to solve the challenge traders face in selecting which traders to copy. Also, with performance and portfolio data available for each CopyFund, filtering CopyFunds is a user-friendly experience. Overall, the eToro platform experience sets the bar high for social trading and is the clear winner, leading the industry forward as a broker that is almost exclusively focused on social copy trading. Pepperstone held second place this year as it offers a comprehensive range of third-party social copy-trading platforms, in addition to the native forex signals market available in MetaTrader 4 (MT4), and Spotware Systems’ cMirror platform. The firm also offers the ZuluTrade platform, and AutoTrade by Myfxbook. In 2017, Pepperstone further expanded its offering by adding Tradency’s MirrorTrader platform, in addition to the developer’s RoboX solution. Darwinex, our third-place finisher, provides traders access to nearly 1,200 trader-developed strategies that are traded like securities (ticker symbols) on the Darwinex platform. The best performing strategies on the platform receive funding from the broker itself, which allocates $4M among the most successful traders. FXCM followed in fourth place with several options available for social copy trading, including the web-based ZuluTrade platform, and the native signals market available in the MT4 platform.

Dukascopy Bank, Vantage FX, and AvaTrade round out top seven finishers for social copy-trading in 2018. Dukascopy is a Swiss broker that offers manual and algorithmic-based copy trading. Vantage FX is ASIC-Regulated in Australia that offers clients the ChartIQ platform as well as myFxtrade and ZuluTrade for social copy trading. Lastly, AvaTrade was founded in 2006, and like its peers, also provides multiple platforms for automated and social copy trading. Understanding how social copy trading networks calculate trading performance is an essential aspect as it will affect the ordering of trader rankings. The method used to measure and track profit and loss will also influence trade copiers. Instant backfill bias is just one example of the challenges social trading technology developers face if they permit traders to instantly upload their entire trading history with the click of a button. Such challenges have been known for years, and thanks to broker procedures, regulation, and robust technology, these concerns are mostly non-issues, especially for top-rated fx brokers. Bottom line, for 2018, the above forex brokers provide traders the tools and capabilities they need to confidently copy trade. Explore our other online trading guides: Forex Risk Disclaimer. "There is a very high degree of risk involved in trading securities.

With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses."Learn more.



Articles:

  • Forex social trading review