Learn How To Copy Trade Forex
Copy Trading Survival Guide

Top 6 Social
Trading Networks

Social Trading will have you trading Forex
in a matter of hours by Copying the successful
trades of professional traders!

Social Trading Is Gaining Momentum

web marketing 2013_05 - 02 w/o titleSocial trading is a growing phenomenon without borders.

It is the merging of traditional forex trading with the proven success of social media networking.

This article is a brief guide into the on-line world of social trading platform providers.

If you don't know what I am talking about let me enlighten you.

Websites like eToro, Myfxbook and Zulutrade have revolutionized modern trading by allowing traders to connect with each other, interact and even follow each others trades.

This means that someone with less experience can enter the markets with a reasonable expectation of success because they can make the exact same trades as a more experienced trader.

It is even possible with some platforms to have trades execute automatically in your account.

Think of it like a set of training wheels for traders, a way to learn to trade with a safety net in place.

Choice of Platforms

There are quite a few platforms to choose from. Most offer the basic services which include forums and profiles.

Some are more advanced and include demo accounts, live trading accounts and the ability to link them to your forex brokerage account.

Some brokers have even seen the benefits of copy trading and are including it along with their traditional services as well.

The caveat is that copy trading is just as risky as any other form of trading.time to learn in blue blocks

You have to approach it with caution and take the time to learn how it works and how to choose the right traders to follow.

The first step is finding the right platform and this thought leads me to the point of this article; an introduction to the platforms and websites.

This is a list of 6 of the top forex social trading web sites, not in order. They are all a little different, what makes one the best for me may not mean the same to you.

Etoro

Social trading with etoro

Etoro is one of the largest and earliest innovators of social trading.

Initially offered as a software down load it has expanded into one of the most prolific social trading sites on the internet.

The company is based in Cyprus and offices across the globe including the UK, the US and Australia.

As of a recent count there are well over 3 million active users trading $10's of billion of dollars annually.

The platform allows users to watch each other and copy each others trades.

Traders can contact each other through profile pages and it also provides a forum where traders can interact.

Once an account is linked to Etoro all trades are automatically updated to the Etoro profile and tracked in a variety of statistical ways.

These statistics are crucial in choosing which traders to follow.

Etoro is not a broker so you will have to open an account with one of its approved brokers to fully utilize the website.

Zulutrade
Zulu performance Social Trading

The Zulutrade is a platform that offers full social forex social trading.

This platform is based in New York with offices in Cyprus, Hong Kong, Shang Hai and Athens.

Zulutrade is a free service like Etoro and makes money through partnerships with it's supported brokers.

Traders can join, enter the forums or simply skip to the leader boards.

Traders are listed by a number of different criteria such as success rate, draw downs, risk profile and profit percent.

You choose several different traders and manage them in your account just like you would a mutual fund.

Netotrade
Netotrade For Excellence

NetoTrade is a Cyprus based Forex broker that offers an in-house social trading platform powered by Sirix to copy traders.

NetoTrade is owned by London based Neto Trade Global Investment Limited, but they are regulated by the Cyprus Securities and Exchange Commission (CySEC).

The platform was started in 2010, but has grown to compete against the major social trading platforms over the last few years.

Since NetoTrade offers Sirix, one of the most feature rich social trading platforms, copy traders can enjoy a seamless social trading experience as both the brokerage account and the social trading platform are managed by the same company.

Besides offering a range of copy trading features like detailed performance tracking metrics and tools of the signal providers, copy traders can also enjoy traditional trading applications like MetaTrader to manage their trading account with NetoTrade.

Instaforex

Social Trading Instaforex

Instaforex is based in Kaliningrad, Russia.

This is a broker that also offers social trading services as part of its full line of features.

Traders can register as a Trader or a Follower.

Trades are tracked by the platform and displayed on a leader board.

ForexCopy Followers have access to a full listing of traders and their data so they can make informed decisions about whom to follow.

Although Instaforex does not have a forum yet it does have some other advantages the other copy trading website don't because it is a full service forex and cfd broker.

On the website you will find detailed information for traders of all levels as well as one of the industries top trading platforms.

Myfxbook
Myfxbook_Banner

Myfxbook is another website offering social trading as part of a larger forex services package.

Myfxbook is an on line portfolio management tool that is also linked to a complex network of traders.

The platform is compatible with over 100 brokers allowing traders to track and monitor their trading accounts.

There is a forum with threads for all levels of traders and a new auto-trader that allows you link your account for copy trading.

You can join the forum, connect with other traders and then choose to follow one or more in your account.

Trades are then automatically entered into your linked account.

All you have to do is monitor your account and your traders performance, adjusting your traders as necessary.

Ayondo
ayondo Social Trading

Ayondo is a new social trading platform that allows traders of all levels to build a following.

The platform lets you begin with a practice account until you are ready to graduate to using real money.

You can place your own trades or follow someone else trades, as you build up a successful portfolio of trades you can also attract your own followers.

When you do get followers that copy your trades you can earn real money for each lot purchased.

Top Traders can moved up through a five stage hierarchy until they reach the top level, the Institutional Traders.

Institutional traders receive as much as $5 per lot generated by their followers and are also eligible for other incentives as well.

RISK DISCLOSURE:
Trading foreign exchange carries a high level of risk, and may not be suitable for all investors. The high degree of leverage available can magnify profits and as well as loses. You can lose more than your initial deposit. Before trading, please carefully consider the risks and inherent costs and seek independent advice as required.

Leave a Comment Below and Tell us What You Think...

Comments

  • January 23, 2014

    Great delivery. Sound arguments. Keep up the good spirit.

  • Lauren Noonan
    April 3, 2014

    What are the benefits of using these sites? Don’t you want to keep your trades private? Or is that just one of those things my dad taught me that doesn’t really matter in the real world.

  • Smithb58
    April 14, 2014

    Usually I do not read writeup on blogs, nevertheless I wish to say that this writeup extremely forced me to take a look at and do so! Your writing taste has been amazed me. Thanks, really wonderful post. defbeeebaf

  • July 16, 2014

    Dukascopy has the best

    • July 16, 2014

      Hi Turimo,
      Thanks for the heads up.
      They look interesting will addd them to the list for a review.
      Thanks,
      Brett.

  • August 17, 2014

    HELLO, I VERY MUCH WANTED TO PURCHASE THE EBOOK, BUT IS QUITE EXPENSIVE. COULD YOU PLS KNOCK-OFF SOME DISCOUNT?

    • August 17, 2014

      Hi Edward,
      Thank you for your comment. If you download the Free Forex Tutorials you will be taken to another page where we do offer a discount.

      If you still have any issues please let me know.

      Brett C

  • simon diel
    October 12, 2014

    Hi
    It seems you have dropped http://www.fxstat.com which is been around before few of the mentioned names above.

    Simon

    • October 13, 2014

      Hi Simon,
      Thanks for leaving the comment. I haven’t heard of them before. They do look good, I like how much info they give on their signal providers. We will be sure review them in the next couple of weeks.

      Brett C.

  • Lewis
    February 11, 2015

    Have you heard of sirix? I heard it’s a new generation kind of platform?

    • February 18, 2015

      Hi Lewis,
      We haven’t done a review of the Sirix platform as such but have done a review on some providers using Sirix. Such as Netotrade or IronFX.

      Will look to do a video review of Sirix in the near future.

      If there is anything else we can help with please just let us know.

      Brett C

  • Jane Biel
    March 12, 2016

    Have you guys ever tried http://www.toptraders.com ? This is not a copy trading website but a social network similar to Facebook or linkedin but only for traders, where you can share trade ideas, analysis, videos, etc. It is quite good as well and probably more intellectually enriching than just copying trades from unknown people…

  • April 12, 2016

    Socialtrading networks is a panacea for all traders?

  • May 10, 2016

    Hey You forgot to mention HiTrader which is new and looks very promising.

  • Pingback:Copy Trading is the Best Investment Platform | Forex Trading Strategies

  • December 6, 2016

    Beneficial information!! Thanks for sharing these information with us!. This particular post is amongst the finest articles I came across up to now.

  • December 28, 2016

    Great article. Potential of trading is increasing day by day. But maintaining trading business is not that easy. It requires determination with a smart work and which can get through an appropriate trading platform.

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