Decoding Social Influence And The Wisdom Of The Crowd In Financial Trading Network

If you lack this capacity, chances are you may lose your money in the market. It’s unfortunate that many people continue to lose their hard earned money in the financial markets simply because they have little knowledge of how to and when to invest. For example, in order for a system to qualify, it must have been traded from a real money account for a period of at least three months and have a minimum of 100 trades posted.

It has so much too offer and is a true spectacle of modern trading technologies. The level of transparency, communicative aspect, and copy trading features are what set social trading apart from all other platforms. With careful insight and knowledgeable use of social trading, as an investor there is much potential to further your social network trading skills, or sit back and create passive income. For one, copy trading does leave the fate of an investor’s performance in the hands of someone else. Whilst it is likely that the copied trader will have a sufficiently impressive track record, past performance is no guarantee that similar success will be achievable going forward.


Surrounding yourself with other traders can open the door for learning new trading tricks and strategies. It’s also easier to stay motivated when you surround yourself with quality and professional traders. If a trader opens a trade worth $10,000 and your account balance is two times less than the trade which is executed, your account will be worth $5,000. If you open trades proportionally to your account balance if the copied trader profits $1,000 then you’ll profit $500. Next, depending on your risk tolerance you can select to copy trades using a fixed amount regardless of the initial position size opened in the copied account.

Once you provide your required documents you can expect your account to be activated within a day or two. As an added plus you will also be assigned an account manager who can assist you in becoming familiar with their trading platform and begin using it. Clients at Ayondo are not charged commissions for executed trades, but rather are charged via the bid ask spread on the instruments traded. Something that is unique to Ayondo is that they offer a cash bonus to new clients who decide to switch over their existing account from another broker to them.

Trading Hours

A potential downside is that other people are counting on your trades to make a profit which can be a little stressful. In summary, Forex social trading can be an excellent way to generate a passive income. The flip side is that you need to do your own due diligence before picking up the traders you want to follow and copy their trades. As always, make sure you understand the risk involved with this practice and be wise with your hard-earned money.

A user-friendly and intuitive trading platform can improve trading efficiency and better results. Traders can often start with as little as $100, but they should select providers with a similar portfolio size social network trading to follow. Our mission is to offer an open environment for everyone interested in trading, where traders can connect together to utilize the wisdom of the crowd to learn and make better trading decisions.

Social Trading Networks

eToro is the most well recognized and advanced copy trading platform in the market today. There are many different options for users who decide to join the eToro social trading community. If you join, you will be among 175,000 other traders who also use the platform.

Is there a copy trading in XM?

Both Metatrader 4 and Metatrader 5 are an option with XM if you want to start copy trading. Both methods of copy trading are supported and accessible with a low minimum deposit from $100 for a Standard Account.

The fee structures are varied and depends on the level of service that you choose. Within the Darwinex dashboard you are able to set custom risk management parameters for use with any Darwin strategy that you choose to follow. Darwinex offers a professional social copy trading experience and can prove advantageous for both the novice and more experienced traders out there.

Why Copy Trading?

According to a 2017 study by St. John’s University, traders with followers are more vulnerable to the disposition effect. It also creates a false sense of confidence among followers and copiers, promotes excessive risk-taking, and result in losses in most cases. ZuluTrade is one of the best copy trading platforms available globally and maintains a leadership position in that field. It works together with more than 35 brokers, offering unparalleled access to traders and strategies exceeding 25,000,000. Diversification remains one of the most defining strategies for copy traders, and ZuluTrade delivers.

This is one of the best copy trading platform, which helps you filter brokers based on minimum Deposit to start forex trading, mobile support, etc. ZuluTrade also allows login via Facebook, convenient for those who regularly log in to check their account. Among other features, ZuluTrade also offers binary options social trading.

Tradingview Trading Platform And Social Network For Traders

Once you log into your Stocktwits account you will have access to a wide array of streams. These streams essentially are organized in specific categories for efficient scanning. The current streams include the following social network trading – suggested, trending, equities, futures, forex, and charts. The pricing model at Darwinex is based on a variable spread and commission model. These aggregate costs appear to be in line with other major competitors.

  • The company has set out to build the best social trading app that can connect traders.
  • We ensured the most comprehensive approach to identify the best copy trading platforms.
  • There may be different rules and regulations pertaining to copy trading depending on the platform you use.
  • The entire responsibility for the contents rests with the contributors and commentators.
  • Stocktwits users can share short messages around different trading instruments.
  • Tradeo is a popular forex social network for traders that was started in 2012.
  • Or capture a trade idea and then review it later and even replay price movements from the exact moment you captured your chart.
  • Instead of watching trends in stocks or forex, they create a portfolio based on the people they copy and follow.

It allows investors with existing brokerage accounts to link a new account via their existing broker easily. This copy trading platform also offers the FXTM Invest service for a minimum deposit of $100. PrimeXBT is a copy trading platform that allows traders of all experience levels to novices alike. It helps Professional traders to monetize their skills by allowing others to copy their strategies. The first benefit of social trading is the opportunity to earn some passive income while you’re still learning the in’s and out’s of the trade game. You can start making profits from trading before you gain the necessary experience to sustain trading activities on your own.

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