Forex social trading offers ultimate benefits to beginners and experience traders alike. The ability to find, compare, follow and copy traders with proven winning strategy is a dream-come-true feature, especially for newbies. Today the best social trading platforms bring you outstanding selection and analysis of the experienced traders and their historical performance, along with the profit outcome.
What is copy trading?
The idea of copy trading is simple: use technology to copy the real-time forex trades (forex signals) of other live investors (forex trading system providers) you want to follow. This way, every time they trade, you can automatically replicate (copy) their trades in your brokerage account.
Social trading has become one of the most-wanted feature in forex brokers, attracting traders to interact and follow savvy investors, stay connected with forex network and share your own forex results with others.
Before the social trading era, traders had to learn all about fundamental and technical analysis of the market. Since this is rather complicated field, many were getting discouraged and flunk out of forex trading within the first couple of months.
Today, Forex Social Trading makes the trading experience so much easier with a simple follow-copy approach, where your decision is based on the skills and professionalism of other, more advanced traders.
The best social trading platforms brings you a vast network of traders worth following and duplicating. While copying others, newbies can learn the strategies and understand fundamental and technical analysis much better.
Social trading platforms brings you the ability to mirror the trades from other traders into your own account. Forex social trading brokers review top traders’ strategies and results within the given time frame (at times, it is possible to check out the trader’s performance within the last two years).
In order to choose the right social trading platform, it is important to see the number of traders involved in the network. The larger the community -the better chance to find someone truly awesome to follow and copy.