What is Social Trading?
Social Trading is a process whereby online investors make use of user-generated content to trade online. Basically, social trading involves traders trading with the help of other traders on the network.
How does Social Trading Work?
Social trading involves traders coming together through a single network, these traders are able to interact, watch others place trades and can as well copy others trades. Through copy trading, traders can learn other traders strategy as well as discover what prompted a trader to place a certain trade.
Benefits of Social Trading
- With social trading, you earn while you learn
- Speeds up learning how to trade as novice traders would learn from expert traders by watching them place trades.
- It’s easier not to make mistakes as there are a lot of experts there to learn and copy from.
- Helps to increase risk management skills
- Investors can diversify their investments
- Saves time
- Gives you access to international markets
Best Social Trading Platform
Presently the best and biggest social trading platform is eToro with the largest active users. eToro is the market leader when it comes to social trading and copy trading as their platform is the most innovative social trading platform.
How To Get Started with Copy Trading on eToro
- Sign Up to eToro
- Make a Deposit of your choice
- Choose a top trader to copy
- Copy, learn and earn!