Investing in financial markets such as stocks, Forex, and cryptocurrencies requires extensive knowledge and experience. You must be up to date with news events affecting the business world and also have the ability to read charts, analytical reports, and understand trends.
If you don’t have this ability, you are likely to lose your money in the market. It is unfortunate that many people continue to lose their hard-earned money in the financial markets simply because they have little knowledge of how and when to invest. Social trading is helpful in meeting these challenges.
So what is social trading?
Social trading works more or less like a social network. The only difference is that instead of sharing selfies or lunch photos, people on a business network share business ideas. Here traders interact, observe the trading results of other professionals and exchange ideas about market situations in real time.
As a less experienced investor or trader, in social trading, your financial business decisions are based on other qualified investors, they generated financial content collected from various trusted platforms. In other words, once you identify a successful trader and like their trading strategy, you can start following them and copying their trades.
What are the benefits of Social Trading?
Well, some of the benefits of Social Trading include:
- Quick access to reliable business information
Social trading platforms reduce the search process for reliable trading information by providing extensive information from professional traders around the world. You can also interact with the expert traders on the platforms as one-on-one tutoring.
- Understanding of the commercial market fast
Social trading platforms reduce the time and cost of becoming a professional investor by allowing you to learn from experienced investors, quickly and efficiently.
- Earn while still learning
Social trading platforms allow you to learn from experienced investors, where you can learn to navigate the trading market and still make some money copying their trades. Therefore, you do not have to wait until you have all the necessary knowledge to start winning.
- Build a commercial investment community
Social trading platforms create a community of investors, where you can interact with other investors and share information, while collaborating with different companies. Being an online platform, you can access business information from anywhere in the world quickly and easily as long as you have the Internet.
Popular platforms for social trading
Now that you know what social trading is and some of its benefits, how about learning a little about the platforms that you can use for social trading?
In this post, we will explore both traditional social trading platforms and modern / crypto trading platforms:
- All Markets Trading
ALL MARKETS TRADING PRESENTS: IX SOCIAL
Copy and follow the Top Traders
The trading world can be entirely resumed to 2 words: smart choices. If you’re looking to trade but don’t have the time, knowledge or energy to do the extensive required research about trends, markets and risk evaluation, the IX Social copy trading app is exactly what you need. The IX Social platform allows you to accurately mimic and trade the exact same trades as our pro traders, on full auto pilot mode, at the same time always being in control of your funds.
- Coinmatics
Coinmatics is a copy trading and analytics platform that launched in 2018. The service makes the process of profiting from the crypto markets as easy as pie. It connects traders and investors and facilitates the automatic execution of copy trading strategies. Coinmatics offers 2 types of copy exchange: automatic and manual.
The traders professionals Coinmatics profit from investors who subscribe to their strategies and automatically copied (auto copy) or win payments from the subscribers to alerts Telegram (manual copy).
Copy traders / investors at Coinmatics subscribe to strategies submitted by professionals and copy trades automatically or manually, depending on their preferences.
In addition, the service offers useful instruments for experienced traders: portfolio, crypto arbitrage, analytical tools, etc.
The service is currently a BETA version and can be completely free for both merchants and copy merchants.
- eToro
eToro is a platform that allows users to share and access information and business activities such as on social media.
The platform has features like News Feed, Copy Trading, and demo account for users. The News Feed feature allows users to manually monitor and copy their preferred traders, while the Copy Trading feature automatically takes care of users. The demo account is completely free and unlimited for users, who can test all the trading and social functions of eToro.
