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Compare Social Brokers For Trading5 min read

Social trading allows traders to interact in real time, sharing experience, methods and trading strategies. Less experienced traders can use the help of experienced traders and even copy their trades and methods. The following guide to comparing brokers can help you identify the most important variables to distinguish brokers from each other. One approach to find out about the broker is to go to their site. Each broker has its own policy, and you should know about it. Many brokers allow you to try Forex for free, using a completely free account to make demo money transactions. Forex trading is simple and profitable if the management and services provided by the broker are transparent and reliable. This is a very exciting activity that requires a person to combine discipline and analysis.

Top Comparative Social Brokers For Trading

Rating 2020 is very important for every trader! This is done to make it easier and faster for you to choose a company from a full range of services. Brokerage companies are scattered all over the world and have many differences in trading conditions and services. This page provides a detailed comparison of the best brokers. The comparison is presented as objectively and simply as possible.

Broker Logo

Full Broker Name

Minimal Deposit

Description

Affiliate Link

Pepperstone3 min read

Created in 2010Pepperstone Group Limited

200/$/€/£

Account in AUD, USD, EUR, GBP, CHF, JPY, NZD, CAD, SGD, HKD

75,000+ thousand

Active traders opened an account with Pepperstone3 min read
For social trading, Pepperstone offers traders access to Myfxbook, ZuluTrade, Mirror Trader, RoboX, MT4 Signals and DupliTrade.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

Darwinex3 min read

Created in 2012Tradeslide Trading Tech Limited.

500/$/€/£

Account in EUR, USD, GBP

10,000+ thousand

Active traders opened an account with Darwinex3 min read
Darwinex is an innovative social copy-trading broker that helps match investors with nearly 1,200 trader-developed strategies that are traded like securities (ticker symbols) on the Darwinex platform. The broker also caters to self-directed forex and CFD traders by offering MT4 and MT5.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

Vantage FX3 min read

Created in 2009Vantage Global Prime Pty Ltd.

200/$/€/£

Account in USD, EUR

30,000+ thousand

Active traders opened an account with Vantage FX3 min read
Vantage FX works with Myfxbook AutoTrade, an automated trading service that allows customers to access social trading and copy many successful traders.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

eToro4 min read

Created in 2007eToro (Europe) Ltd.

100/$/€/£

Account in USD, EUR, JPY, GBP, AUD, CHF

8,000,000 millions

Active traders opened an account with eToro4 min read
eToro is the world’s leading social trading network. Powered by millions of users from over 140 countries, eToro has been able to refine their knowledge and experience into practical trading tools.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

FxPro3 min read

Created in 2006FxPro Financial Services Ltd.

500/$/€/£

Account in USD, EUR, GBP, CHF, JPY, PLN, AUD

870,000 thousand

Active traders opened an account with FxPro3 min read
FXPro has its own social/mirror trading platform that works within the brokerage that allows people to choose who to follow.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

Trade3603 min read

Created in 2013ST Services Ltd.

500/$/€/£

Account in USD

20,000+ thousand

Active traders opened an account with Trade3603 min read
Trade360 CrowdTrading trading platform is for investors who want to add active social trading features to financial markets where they may be interested in buying and selling.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

Dukascopy4 min read

Created in 2004Dukascopy® Bank SA

100/$/€/£

Account in USD, CHF, EUR, GBP, JPY, AUD, CAD, DKK, HKD, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, ZAR

130,000+ thousand

Active traders opened an account with Dukascopy4 min read
The Switzerland broker and bank offers copy trade function to members of their Dukascopy Community, they call it “Social Signal Trading”. This feature offered from Dukascopy Bank SA.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

HF MARKETS3 min read

Created in 2010HF Markets (SV) Ltd.

50/$/€/£

Account in USD, EUR, JPY, GBP, AUD, CHF, NZD, XAU

2,000,000 millions

Active traders opened an account with HF MARKETS3 min read
Designed to connect traders past their geographical boundaries and level of trading, HFcopy is a powerful trading tool that allows traders to join forces and work together as allies to try and master the markets.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

NAGA3 min read

Created in 2015NAGA Group AG

100/$/€/£

Account in USD, EUR, GBP, PLN, CHF, BTC, LTC, DASH, ETH, BCH, NGC

500,000+ thousand

Active traders opened an account with NAGA3 min read
NAGA is deeply focused on the social aspects of investing, making it easy to connect with like-minded traders and copy their trades.

* investment risks
Warning Investment Risks

Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.

What is a Social Trading Platform?

Copying trading platforms allows you to trade over the Internet based on the information provided by others. The social element comes from copying the transactions of other traders who are professionals or amateurs. Having spent time searching for traders who will meet your own goals and risk profile, you can outsource your own trading. If you carefully select your traders, you can profit from the successful transactions that they make.

Usually, when you copy a trader, you set the amount to invest in your strategies. Some networks limit this amount to a fixed percentage of your capital to avoid loss if a trader starts to lose money. When you start copying the trader’s strategies, the platform will automatically open a position every time your trader opens a position. Other systems offer alerts via email or phone, which gives you more control.

The main difference between social trading or mirror copying is that signals come from other people. Mirror Trading – automatic trading based on signals created by algorithms or “Forex robots”. In addition to being able to copy transactions, the main advantage of these social networks is the ability to discuss markets. You can keep an eye on traders without copying them. By communicating over the Internet, exchanging news and market tips, you can learn and improve your own strategy.

Some Popular Copy Trading Platforms

There is a wide selection of trading platforms that focus on social networks and copying.

eToro is one of the most visible and highly reliable platforms in the category. It is also one of the largest retail chains for copiers and investors. The focus is on the network side of copying to promote strategies. eToro recently made efforts to improve its “people search”. This makes it easier to find suitable traders for long-term gain, rather than highlighting more risky short-term gains. Just open a demo account and feel the system of followers before investing real money.

Tradeo and Ayondo are two more popular social trading networks. Of these two, we found that the Ayondo broker is the most in-depth, with real reputation risks that go far beyond eToro. Tradeo has a sleek interface, but it seems to be more focused on the “get rich quick” mindset. The “Trade Search at Tradeo” emphasizes traders making unrealistic gains of 6,000% or more. This implies a level of risk more similar to gambling than to trading.

ZuluTrade is another option, although it is less accessible for beginners. ZuluTrade provides full copy trading functionality and is compatible with major brokers. This allows you to track transactions using the broker of your choice.

And finally, there is SignalTrader, which offers an automated mirror trading through a set of tools. You can trade in various markets including Forex, stocks, commodities and bonds.

Making Money With Leading Gurus

This is not just a profitable opportunity for people who have more money than time. There are significant benefits for experienced or professional traders. By providing your own signals and letting people copy their trades, you can earn bonuses and cash. Most trading networks are aware that their advanced traders are among the largest assets. As a result, gurus with a large number of followers are well supported by brokers.

eToro offers its TOP Investors a 100% bonus on their transactions, as well as a monthly cash amount. It can be up to 2% of the funds that their followers invest.

Ayondo’s TopTrader program offers the opportunity to earn up to $5 per lot traded by your followers. Tradeo does not offer anything, but Zulutrade offers signal providers 0.5 points per lot. This will vary depending on the spread and currency, but the average income is $4 per lot.

Tips for Investing in Social Trading Platforms

Social trading does not necessarily increase your chances of becoming richer. It all comes down to following the right people and trading the right markets. It is not enough just to see the high profitability rating of the trader and entrust your hard-earned money.

Find out how they trade and what risk management strategies they practice. A trader who is lucky several times and manages to triple his account within a few days can be a bad bet for the long term and vice versa. Use the exact numbers that can be found in the “Performance” section on most trading platforms. They provide a graphical way to display key performance indicators. These include average wins in points, maximum open trades per day or week, and drawdown.

Try to distribute your capital in different financial assets and professional traders. This will give you more chances to make money in social trading, minimizing risk and benefiting from various price movements. It would also be prudent to diversify instruments such as indices, options, commodities and stocks.

Follow the Crowd: Another Alternative?

CFD brokers continue to innovate, and shortly before someone decided to find a third way between manual trading and copy trading. For those who want to benefit from an understanding of the social trading network, but still want to maintain control over their own capital and trading style, crowd trading offers an interesting alternative.

The premise is simple: by controlling market flows and other positions, you can understand what may happen in the future. Platforms such as Trade360 and Tradeo allow you to track “market sentiment“. This will allow you to see how other traders feel the current price and how the market will move, allowing you to open positions for or against the mood.

It is worth understanding what the analysis of moods in each platform is based on – this is extremely important. Ideally, this should include institutional investors as well as retail traders.

Rating 5 Social Brokers & Pros / Cons

eToro one of the world's largest social networks for traders, which has a reputation as a reliable CFD broker registered in Cyprus. Developers position the company as a network of social trading, where you can independently trade currencies, stocks, cryptocurrencies, indices, goods, copy transactions of successful traders or investors, and discuss trading and investment decisions.
Pros Broker
Global regulatory licenses
Ability to copy other traders
Wide range of markets
Available deposit rates
Cons Broker
High spread
Money withdrawal fee
No scalping allowed
Weak technical support
87
Overall Broker Rating
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NAGA ever since its inception, in 2015, has been all about making the world of trading, investing and managing financial assets open and much easier for everyone. Regulated by CySEC, you will find a safe and reliable platform with many advanced features and tools compared to other platforms. An interesting addition to their portfolio of financial products is NAGA Group, a Fintech group trading on Frankfurt Stock Exchange. They use the NAGA Coin within the NAGA Wallet and NAGA Ecosystem.
Pros Broker
Various education instruments
Unique social trading
Great crypto trading and deposits
Large and active community
Cons Broker
Only one account for all
Web platform might be too simple
Low spread only for stock CFDs
The site slows down browser
84
Overall Broker Rating
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Dukascopy offers currency and precious metals trading for retail and institutional customers. It promises equal liquidity and quotes for all customers. All types of trading are allowed, including scalping, there are various trading commissions depending on the size of the account and the monthly trading volume, and deposits are protected by the Swiss government in the amount of $100,000 per client.
Pros Broker
Instant performance of orders
Narrow spreads from 0.2 Pips
Over 500 CFD markets
Access to professional analysis and news
Cons Broker
Complicated structure of the official site
All services are focused on professionals
Higher than average fees
Payment methods are limited
81
Overall Broker Rating
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In 2006, the FxPro was founded and serves more than one million customers from 170 countries from around the world. During this time, FxPro managed to get licenses from CySEC, FCA, MiFID and create a positive image and reputation. The broker serves private and institutional clients. FxPro is a broker that conducts transparent work and takes care of maintaining the capital of its customers. That is why, all deposits of FxPro clients are insured and located separately from the company's funds in leading international banks.
Pros Broker
Quality signals and analytics
Withdraw funds without delay
Honesty and transparency
Protection of trader's deposits
Cons Broker
High minimum deposit
No bonuses or promotions
Multi-step confirmation process
Requotes and slippages
80
Overall Broker Rating
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Pepperstone is a regulated Forex and CFD broker from Australia which is licenced by the ASIC. This broker allows to trade with Forex, precious metals in the spot market and CFD on different markets, including stocks and indices. As a pure ECN/STP broker, it has many liquidity providers, such as major global banks. The clients of Pepperstone can trade with variable and low spreads, excellent market quotes and market depth access. The company has chosen as a partner the National Bank of Australia with an +AA credit rating. For traders, this means that they will always have access to the best available prices to secure their position as a leading broker.
Pros Broker
Transactions entered into interbank market
ASIC and FCA regulated broker
True ECN broker
Low spreads starting from 0.1 pips
Cons Broker
Focused mostly on Forex
No compensation scheme in Australia
No bonus is offered to traders
Product portfolio is limited
78
Overall Broker Rating
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