Social Trading is a safe and efficient way to access the vast expanse of financial markets. It’s about bringing together all the traders of the world in order to gather a collective knowledge combined with solid skills in order to help you progress and reach a level of quality impossible to achieve without this means.
Some platforms have a very large online financial trading community. Many believe that social trading is the most relevant approach to financial investment now and in the near future. The best representative in the field is , a forerunner in the field for Forex trading. Social trading is developing more and more new features to equip the ever-growing trading community with endless possibilities. Through state-of-the-art features such as CopyTrader, Copy Me and many others, social trading promotes contact and exchange as well as education without borders.
How does social trading work?
Social trading offers a lot of freedom of use. Its objective is to enrich both your experience and your level according to your trading objectives.
Observation and conclusions
The essential function of social trading is to provide you with trading material. You can therefore observe your colleagues trading on the financial market at any time. You can take advantage of this configuration thanks to constant information, adequate communication, a serious study of stock market values and market trends; but also understand and assimilate trading strategies and means of analysis.
Follow-up
The results of some traders are more interesting than others. You have the possibility to ‘Follow’ the traders of your choice. You can also request additional information about certain traders and get in touch with them via their profiles. In case of indecision or uncertainty, you can use diaries or headings to find what best suits you on the network.
Copy
In order to get the most out of social trading, it is recommended to take inspiration from it and even copy it. Trades can be copied either through an OpenBook (if you spot a particularly interesting trade) live or through the profile of a specific trader. To do this, you need to open the same currency and click on the ‘Copy’ function. However, if you have spotted a profitable trader in the long run, it is more convenient to use the ‘CopyTrader’ function to automatically copy their trades. This way you can focus on all the traders of your choice with no territory limit to replenish your “trader base” portfolio.
How to get the best out of social trading?
The social trading community offers such a huge earning potential that even the experienced ones are embracing it wholeheartedly.
Trading beginners
- Choose your trading mentors – study their trades, learn their trading techniques and copy their trades systematically;
- Store the performance of the trader of your choice through several features and keep track of their positions and transactions;
- Learn from other traders and seek their advice;
Experienced Traders (Mentors)
- Learn from other traders and be on the lookout for real earning opportunities;
- Earn commissions from your copiers through mentor programs;
- Gather more followers and followers via blogs and shares.