Best Social Trading Platforms 2023 Reviews & Comparison

The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by ourpartners. They are also required to complete a W-8BEN form which allows them to benefit from a reduction in withholding tax for qualifying US dividends and interest from 30% to 15%. Holding US shares also carries exposure to foreign exchange risk – if the pound strengthens against the dollar, the shares will be worth less in sterling .

  • Also, pay attention to fees, since you might be on the hook for copy fees, autotrading fees and subscriptions, on top of regular trading commissions.
  • Hosted in the cloud 24/7 without the hassle of a VPS, allowing you to copy trades to any amount of trading accounts and much more.
  • By learning from some of the best, you can mimic their performance in your own portfolio.
  • Regulation makes it difficult for Forex brokers to offer their service to US citizens.
  • This also ensures that the social and copy trading features offered by eToro are monitored for fairness and transparency.
  • The past performance of any trading system or methodology is not necessarily indicative of future results.

These social trading platforms for the core of your trading experience with any broker so it is key to find the best one to suit your needs. As such, you’ll find that they are usually regulated by a reputable financial body. In the case of eToro, this social trading platform is regulated by the FCA, ASIC, and CySEC. Some social trading platforms only support bank wire deposits, so expect to wait at least a couple of working days before the funds are credited.

Trading Education

Founded in 2005, MultiBank is a global trading platform with access to over 1000 markets, including commodities, forex, and cryptocurrency. Users are attracted by the excellent customer service and ease of use. Founded in 2007, eToro is an industry-leading platform that’s most known for its social trading functionality. EToro enables users to trade in over 1,000 assets, which includes free stock and EFT trading.

social trade platform

Having the best platforms according to our findings listed in one place, can help you save time when looking for the best copy trading platform for your own individual needs. Online trading can be very complicated, especially for beginners who have no previous trading experience. Learning to trade with consistent results can take many years of studying and practice. Some aspiring traders simply do not have enough time to become a professional full-time trader and may consider using a social trading platform instead.

What is a trading platform?

This ensures that you are able to engage with its social trading tools in a safe and secure manner. EToro supports a wide variety of asset classes – which includes more than 2,400 stocks and 250 ETFs from over 17 international marketplaces. EToro also have a “Popular Investor Program” where top-tier popular investors can earn a second income by being followed and copied by other users on the eToro platform.

social trade platform

Regulated by CySEC, NAGA is a publicly listed company in Frankfurt. As a result, there should be no reasonable doubt about their transparency. Moreover, they are adopting new technologies constantly that makes traders life easier. Investing in shares can be a good way to produce higher returns than cash-based investments.


When you consider your situation, make sure you understand how paying a trading fee can cut into your overall profits. On top of that, it’s easy for you to arrange your portfolio, dividing your assets into short-term and long-term investments using a drag-and-drop feature. Public’s interface is easy to use, and not only can you learn from other investors, but Public also includes relevant information so you can see why a stock price might be going up or down. Besides, the signal providers’ profile is visible, and the trader can message them directly from the platform. Users can analyze the load of data and do extensive research on strategies, which makes it tough for the newbies. Become a part of one big trading community, share your trades with others and discuss trading strategies.

If you’ve read our guide up to this point, you should now have a firm grasp of what to look for in a social trading platform. When searching for social traders to copy, you’re likely going to base your decision on their historical trading results. Although this makes sense, it’s important to remember that past performance is never a sure-fire indicator of future results.

social trade platform

On the other hand, FXPIG have a powerful trading environment and utilise innovative trading technology which may be of interest to the more advanced traders and institutions. All performance data is shared openly with everyone, and you’ll never find hidden fees. You can interact with fellow traders and investors which is a good way to learn and improve your own trading strategies. Using Axiory CopyTrade, you can choose from the expert traders you want to copy and duplicate their trades onto your own account.

You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

IG: Share Dealing Account

In contrast, those with nonhabitual checking behaviors also showed initial hypoactivation, but decreased sensitivity to these cues over time. Youth who habitually check social media are more sensitive to peer feedback, data show. So, the minimum deposit and transaction methods depend on the specific broker you are working with. Sign up for NAGA for free and instantly get a demo trading account with $10,000 test funds to try out the platform. Mirror the trades of our lead traders at NAGA — They trade, you trade. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available.

This is because robots are taskedonlywith following the underlying code of the software file based on an algorithm – meaning they are unable to assess real-time financial news feeds. A prime example of this is a stock that releases worse-than-expected quarterly results, such as a drop in revenue or operating margin. A human copy trader would be fully aware of this and thus – this is the best way to go. The most important factors that you need to explore when searching for the best social trading platform are discussed in more detail below. is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments.

Best Social Trading Platforms Reviewed

67% of retail investor accounts lose money when trading CFDs with this provider. Once your brokerage account has been connected to the ZuluTrade platform, you can review the trading signals offered and choose the signals that you want copied into your own account. You can join FX Junction for free, allowing you to see the forex trading signals of others, and automatically copy them from your own trading account.

Find The Best Broker For You

You can also always take a look at our Pepperstone review for an in-depth rundown on everything this top forex broker choice has to offer or visit Pepperstone. Get real-time visibility into every trade and trader, with a neat dashboard. Pickup the conversation from Discord and gain the ability to really follow your favorite trader. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. One of the most successful copy traders on eToro is Jay Edward Smith.

Top 10 Social Trading Platforms

Trade 360 is relatively new in the industry as they have been operating since 2013. Trade 360 is a broker basically, which providessocial tradingfeatures to its users. It is mostly popular for social trading services than the brokerage service as they offer a proprietary trading platform. The platform usually gathers all the trading information from its users and provides feedback on the decision-making process.

They have established themselves as the leading online social trading platform, offering user-friendly social trading to millions of traders from over the world. Whatever your experience level, the eToro platform has a large range of signal copying and sharing solutions with a vast online trading community. They have a large selection of trading instruments available across the eToro web and eToro mobile platforms. We’ve looked at general trading accounts that allow investors to buy and sell shares, however, there are a variety of tax-efficient alternatives.

Having worked in investment banking for over 20 years, I have turned my skills and experience to writing about all areas of personal finance. My aim is to help people develop the confidence and knowledge to take control of their own finances. As with UK shares, any profit on US shares will be subject to CGT, unless the shares are held in an ISA or other tax-efficient wrappers such as a self-invested personal pension. A ‘trailing loss’ or ‘trailing stop loss’ sets the price based on a specified percentage above or below the share price, rather than a single value. It’s a useful tool to lock in profits or limit losses, without investors having to manually reset the stop loss when the share price changes.

This is thanks to the “feeds” area, which allows for easy sharing of videos, news, and trade ideas. The more you use the feed, the more it will become specifically tailored to your own interests. Social trading platforms enable you to search for, and locate, traders whose styles match your online trading needs. Once you perform a search, be sure to check out each trader’s stats. For example, if you’re looking to trade currencies in a completely passive nature, FXTM allows you to filter your search by the asset class – in this case, that’s forex.

This is problematic as there is little chance that you will find a trader that directly meets your financial goals and appetite to risk. The best social trading platforms in the online space allow you to ‘copy’ other members into the trading community. This is something that more and more brokers are starting to offer, as they understand that some individuals want to invest passively. There are a wide variety of factors that will determine whether or not the copy trading feature offered is worth considering. This social trading platform focuses on the forex market, and there are only two brokers that U.S. participants can use with their social trading account.

This includes the ability to comment on and communicate with other traders using the platform. You can also connect your AvaTrade MT4 account with ZuluTrader to allow copy trading through that trading platform directly. The best way you can engage in social trading through MT4 is to utilize the EAs feature.

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