The Best Social Trading Platforms For Beginners


Written By: Ehsan Jahandarpour

best social trading platforms

If you are just starting in trading and are looking for a good platform to learn about, there are a few different social trading platforms you can use. Some of them are eToro, ZuluTrade, and Tornado. These platforms offer similar features, but have slightly different requirements.

eToro

If you are looking for a social trading platform, eToro is a good option. This platform offers low trading fees and offers a live chat support service. It also has access to over 1,500 shares and 47 currency pairs. Customers can trade in forex and stocks, as well as commodity/index CFDs.

eToro’s advanced social trading features allow users to interact with other investors and copy their trades. The eToro community has 20 million investors from over 100 countries. This helps investors learn from each other and minimizes the risks involved in investing. Moreover, the platform’s news feed makes it easy to stay up-to-date on the latest market news and see how other investors are performing.

The copytrader tool is simple: you choose a trader and a certain amount, then eToro will copy their trades. The system will use professional machine algorithms to optimize the trading performance of your chosen trader. In addition, the platform allows you to customize the copyportfolio by choosing a particular asset class and risk rating. This way, you can follow a trader without losing your money.

Darwinex

The Darwinex social trading platform was founded in 2012. Its technology was originally developed by Tradeslide Ventures, but the company rebranded and went public in the fall of 2014. The following year, the platform was listed among the FinTech5o and was a finalist for the Benzinga Fintech Awards. In August 2015, the company announced new enhancements to its algorithms and the listing of 24 new DARWINS on its exchange.

The Darwinex social trading platform is a competitive player in the social trading and copy trading niche. However, it has some advantages over the other trading platforms. Investors can easily follow the strategies and trades of a successful trader. Its risk management algorithms will help investors protect their money. The minimum investment required to use Darwinex is only $200.

The Darwinex platform is available in a variety of languages and has mobile apps for both iOS and Android devices. Moreover, users can fund their account in EUR, USD or GBP. Besides, the Darwinex website allows depositing funds using Skrill without any commission. Once an account has been funded, investors can trade in a variety of markets and assets.

ZuluTrade

ZuluTrade is a social trading platform that enables users to make real-time trades through a variety of online brokers. Customers can deposit funds using several methods, including PayPal, credit card, bank wire transfer, and even e-wallet options. However, some brokers charge a fee for using certain payment methods. Before you choose a ZuluTrade broker, you should understand the fees associated with their services.

ZuluTrade uses a variety of security methods to ensure that your information remains secure. It employs a system called ZuluGuard, which protects Followers against erratic signals. In addition to this, ZuluTrade is fully licensed and regulated, and must adhere to strict international laws.

To join ZuluTrade, you’ll need to create an account. The system will prompt you for your username and password. Once you’ve done this, you’ll be able to create a live or demo account. The demo account will let you trade with virtual money to test your skills and learn how to make real trades. After you’ve set up your account, you’ll receive an email to verify your account.

Tornado

The Tornado social trading platform allows its users to invest in stocks and ETFs. The platform also allows members to purchase fractional shares of stocks. However, it does not offer access to mutual funds, bonds, or CDs. The service also does not offer cryptocurrency or derivatives. The Tornado website does not state how much a membership will cost. The site does offer simulated trading. In addition, members can access a personalized news feed and discussion feed.

The platform also has social networking features, so users can connect with each other and see what others are investing in. This allows users to compare and analyze their portfolios without actually comparing dollar amounts. They can also see how other users are ranked. Those in the bottom half will be unranked, while those at the top will see a percentage ranking.

To test the platform, subscribers can open a simulated or live account. A simulated account can help traders practice before committing their own money. Using a simulated account, one can experiment with different stock picks and build a simulated portfolio. In addition, the Tornado social trading platform has an advanced tool called the Portfolio Optimizer, which shows investors the pros and cons of individual stocks.

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