Pros High-quality educational offering via SharpTrader Excellent choice of trading platforms catering to various trading needs Broad asset selection and cross-asset diversification opportunities Well-regulated and trusted broker with oversight from a central bank.

Cons Trading costs competitive but nothing special. BlackBull Markets. Best ECN trading environment, with scalping and hedging. BlackBull Markets was founded in in New Zealand.

Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register FSPR and offer a maximum leverage on some Forex currency pairs as high as to 1.

In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices.

That should be sufficient for those traders with more focused strategies not requiring wide diversification. Cons Limited deposit options. Want to test your skills? Open a free MT4 demo now! GET STARTED. To give you the best possible experience, this site uses cookies. If you continue browsing, you accept our use of cookies. You can review our privacy policy to find out more about the cookies we use. The second is that you will be helping out others the same way that the traders you copied helped you.

We recommend trying out any of the sites we recommend on this page. Just click on any of the links to join. You can sign up on forex forums, join forex communities on social media websites, or sign up for trading groups that work together using Skype, Discord, or other chat services. These options offer you a more personal, collaborative approach where you and other traders can work together and copy each other.

They may be a great fit if you all use related strategies. There may be a delay. You should check with your broker to find out how long the delay will be on average. Now you know what forex social trading is, and you are familiar with the similarities and differences between copy trading and mirror trading. Moreover, you are acquainted with the pros and cons of trading with social features and tools.

Ready to get started copying top forex traders? Plus, it maintains some of the fastest transaction processing speeds with no requotes or rejects.

Even though Capital. And it makes it here because it lets investors trade on the all-popular MT4 platform, which supports copy trading. Here, Capital. com traders have access to thousands of traders and strategies to copy — with most of them specializing in forex trading. The majority of these are experimental and free, but the most profitable are either subscription-based or charge a one-time access fee.

We only list it here because it lists the all-popular DupliTrade — a third-party copy trading platform. Here, AvaTrade clients get to interact with a wide range of effective copy trading strategies. These are developed and maintained by a team of highly experienced forex traders, and they are carefully vetted and approved by the DupliTrade team.

AvaTrade copy traders get to interact with 55 forex pairs — including all majors, minors, and a diverse range of exotics. AvaTrade will only charge competitive spreads — starting from 0. Vantage is a globally-renown CFD trading platform specializing in such assets as forex, crypto, stocks, commodities, ETFs, and indices. It is also a multi-regulated online trading platform licensed by top-tier regulatory agencies across the world. Several factors informed our decision to include it in our basket of top forex copy trading platforms.

First was its integration of a large pool of copy and social trading platforms, starting with the proprietary Vantage social trading tool, ZuluTrade, DupliTrade, MT4, and MT5 trading platforms.

In addition to the close to , users on Vantage that you can copy trade from, these third-party platforms present you with an unlimited pool of copy traders and strategies to choose from. The broker charges competitive spreads as low as 0. Third-party platforms, however. Axi is one the most innovative CFD trading platform around today, specializing in forex, stocks, indices, crypto, and commodious. We list it among the best forex copy trading platforms in because it runs one of the most advanced proprietary copy trading tools.

Like in most other copy trading cases, Axi's copy trading tool is easy to use and automated. You only need to download the copy trader app, find the broker you wish to copy, and adjust your investment amounts and risk tolerance — after which the trader's settings will be automatically mirrored to your account.

But these aren't the only reasons why we believe Axi to be one of the best copy trading platforms. Others include the fact that it also supports such third-party copy trading and trade automation platforms as MT4 and ZuluTrade.

Pepperstone is one of the most popular and highly reputable forex trading platforms. And though it doesn't have a proprietary copy trading platform, we still Pepperstone among the best Forex copy trading platforms because it supports such third-party trading platforms as MT4 and DupliTrade.

Both give Pepperstone traders access to thousands of highly successful traders and trading strategies to copy. These include experimental and premium strategies on MT4 and broker-approved strategies on DupliTrade. On both trading platforms, copy trading is automated. But before you can interact with these trading platforms, you need to start by creating a trader account with Pepperstone.

XM presents it as a platform for users with a choice of 55 major, minor and exotic pairs. This helps give XM traders access to thousands of lucrative strategies — mostly forex-focused to choose from. The majority of these strategies and traders are also free and don't charge a commission or subscription to their trade strategy copiers.

This, alongside the fact that XM is commission-free, makes it possible to make money passively and affordably — only paying the competitive spreads charged by XM. We must, however, mention that to access hugely profitable strategies on these copy trading platforms, you will have to part with a one-time access fee or a subscription charge.

FXTM is a multi-regulated and highly reputable online brokerage that has come up with a proprietary copy trading tool. The tool is availed via their Invest Account and is primarily the reason why we feature FXTM among the best forex copy trading platforms around. By opening an Invest Account with the broker, you will have access to thousands of expert investors — known as strategy managers — whose trade settings you are free to copy.

You only need to create an account, identify a strategy manager, and copy their trade settings. The broker doesn't charge a commission for copied trades. The strategy managers will, however, receive a commission on the profits made from the copied trades. NAGA is an online trading platform with proprietary copy and social trading tools — much like eToro. It makes it on the list of best copy trading platforms because of its innovativeness, ease of use, and appeal to beginner traders.

Social trading platforms allow you to communicate with other investors in a Facebook-style manner. The main concept is that you get to share and discuss potential investment opportunities with traders of the same platform. In this guide, we review the best social trading platforms to consider in and how to get started with an account today!

Looking to start investing with the best social trading platform of right now? If so, check out the list below to see which providers made the cut. You can scroll down to read for a full review of each social trading platform. Although social and copy trading is getting more and more popular with the average Joe investor, the number of top-rated platforms active in this space is still relatively small. Taking all of this into account, below you will find a selection of the very best social trading platforms to consider in There really is no competition in the social trading platform space when you look at the numbers.

That is to say, eToro is without a doubt the market leader in this sector — with more than 17 million clients now using the social trading platform to invest. First and foremost, eToro, as one of the best forex brokers in the industry, is heavily regulated.

This ensures that you are able to engage with its social trading tools in a safe and secure manner. eToro supports a wide variety of asset classes — which includes more than 2, stocks and ETFs from over 17 international marketplaces. You should consider whether you can afford to take the high risk of losing your money. The platform also supports cryptocurrencies, commodities, forex, and more.

With that said, the most attractive and perhaps innovative social feature offered by eToro is that of its Copy Trading tool. This takes things to the very next level, as you can copy an eToro trader like-for-like. There are thousands of verified eToro users that have joined the Copy Trading program, so you find an investor that meets your financial goals and appetite for risk. Otherwise, there is a small 0. This includes CFDs, stocks, forex, and cryptocurrencies.

In a similar nature to eToro, this top-rated social trading platform allows you to discuss and share ideas with your fellow traders. In terms of finding a trader on NAGA, you can view a full host of useful information to help you decide whether or not they are worth copying.

For example, you can view each and every trade that the individual has made since joining NAGA, and what this amounts to in terms of profitability and loss. You can also dig a little deeper to see how much risk the trader likes to take and whether they prefer short-term or long-term trading strategies.

Once you have selected a trader that you like the look of, NAGA offers two options in the terms of executing your position. You can either use the proprietary NAGA Web Platform, which is simple and thus perfect for newbies. Or, you can also connect NAGA to third-party trading platforms MT4 and MT5, which you can use on your iOS and Android devices. This option is best suited for more experienced online traders. Much like eToro, NAGA also offers a top-rated mobile social trading app, so you're never more than a click away from checking in on your copied traders.

When we explored the fee department, NAGA offers commission-free trading on forex, crypto, indices, commodities, and futures. However, there is a variable commission charged on stock CFDs and ETFs. This averages 0. There are no fees to deposit funds, which is another bonus. However, unlike eToro, NAGA charges a commission when you utilize the copy trading tool.

There is, of course, no copy trading commission applicable on losing positions. Finally, NAGA is authorized and regulated by CySEC. FXTM is primarily an online trading platform that specializes in forex and CFDs. Regarding the latter, this includes stocks, indices, commodities, and more. If, however, you're looking for a top-rated platform that also offers social trading features, FXTM has you covered.

Much like the other social platforms we have included in this social trading review thus far, FXTM allows you to select a trader based on your financial goals, according to your projected investment decisions. For example, if you're looking to trade currencies in a completely passive nature, FXTM allows you to filter your search by the asset class - in this case, that's forex. Then, you can sort the list of suitable forex market traders by specific metrics - such as monthly average returns.

When it comes to the platform itself, FXTM supports MT4 as well as its own web-trader. Either way, FXTM offers some of the best trading fees n the industry. For example, if you opt for the Cent Account, you can trade commission-free.

There are also accounts suited for large-scale traders that come with zero spreads and a low flat commission. Leverage of up to is also offered by FXTM, albeit, your personal limits will be determined by whether or you are a retail or professional trader. Finally, FXTM is heavily regulated in multiple jurisdictions, which includes a license with the FCA and CySEC.

There is no guarantee you will make money with this provider. Although eToro is the industry leader in this space by some distance, there might come a time when you come across a social trading platform that we haven't discussed today.

If this is the case, you'll want to ensure that the platform is right for your trading goals before you open an account. The most important factors that you need to explore when searching for the best social trading platform are discussed in more detail below. First and foremost, you need to check how 'social' your chosen platform is. For example, while some online brokers simply offer a copy or mirror trading service, others go one step further by offering a complete social experience.

For example, eToro allows you to see what your fellow traders are speculating on once you click on an asset. For example, if you're thinking about trading Bitcoin, you'll find heaps of threads and discussions on the respective trading page. You can join in the conversation by replying to specific posts, 'Like' your preferred viewpoints, and even follow an eToro trader that you like the look of. It is also important to assess whether your chosen social trading provider offers a proprietary platform.

By this, we mean that you can access social and copy trading features directly from the provider's website, so there's no need to download or install any software. We usually find that this is something offered by the best social trading platforms. For those unaware, MT4 is a third-party trading platform that is particularly popular with seasoned pros that use trading signal providers. The platform essentially sits between you and your chosen broker.

In addition to advanced trading tools, MT4 also offers social trading features. At the forefront of this is the ability to copy other traders that are using the MT4 platform.

This is something that more and more brokers are starting to offer, as they understand that some individuals want to invest passively. There are a wide variety of factors that will determine whether or not the copy trading feature offered is worth considering. We have come across social trading platforms that allow you to copy other traders using the site. But, in many cases, you only have a handful of traders to choose from. This is problematic as there is little chance that you will find a trader that directly meets your financial goals and appetite to risk.

At the other end of the spectrum, eToro is home to over , verified copy traders out of 17 million social investors. This is crucial, as you can really do some deep-digging on the trader before you decide to invest. For example, you can view the historical trading performance of the individual - in terms of average monthly returns.

You can also view the average trader duration, which illustrates whether they are a day trader, swing trader, or a long-term buy and hold investor. Other important metrics that can be explored at eToro include preferred asset class, risk rating, and a full biography of the individual's experience and trading goals. If you decide to use the copy trading feature at your chosen platform, it's important to assess what the minimum investment is.

If the amount is too high, this can make it difficult to diversify. Some social trading platforms allow you to copy a trader like-for-like but offer no control over your portfolio. This means that you are unable to add or remove assets yourself.

eToro not only allows you to copy your chosen trader but easily adds individual assets to your portfolio as and when you see fit. For example, you might be copying a forex day trader but at the same time - decide to invest in some blue chips.

All social trading platforms are in the business of making money. As such, you need to explore what fees you will be liable for before you open an account. Ultimately, if your chosen copy trader incorporates fees when buying and selling assets on your behalf, you should expect to pay a proportionate amount. It is important to remember that social trading platforms are still brokerage firms.

That is to say, they give you access to the financial markets, and thus - reputation and trust are crucial. This is why the best social trading platforms are heavily regulated by reputable financial bodies. For example, eToro is licensed by the FCA, ASIC, and CySEC. This means that your funds are stored in segregated bank accounts and all users must be verified.

This also ensures that the social and copy trading features offered by eToro are monitored for fairness and transparency.

We should also note that there are two types of auto trading features that you might come across. This guide has so far discussed manual copy trading, meaning that you will be investing in a trader that performs their own research and personally places buy and sell orders.

With that said, some social trading platforms also support algorithmic trading. This means that you will be installing a software file that contained pre-programmed trading conditions. The 'robot' will then buy and sell assets in an autonomous manner - with trading decisions backed by AI and machine learning. In order to benefit from this, your chosen social trading platform must be compatible with the likes of MT4, MT5, ZuluTrade, or cTrader broker platforms.

Although AI trading does come with its benefits, it's a lot more risk-averse to stick with traditional copy trading services. This is because robots are tasked only with following the underlying code of the software file based on an algorithm — meaning they are unable to assess real-time financial news feeds.

A prime example of this is a stock that releases worse-than-expected quarterly results, such as a drop in revenue or operating margin. A human copy trader would be fully aware of this and thus — this is the best way to go.

As with any internet community, many platforms mimic platforms such as Facebook through the usage of likes, link sharing, and comments. The broker doesn't charge a commission for copied trades. Copy trading is legal in virtually all countries which allow CFDs in general. We only list it here because it lists the all-popular DupliTrade — a third-party copy trading platform. This means that you will be installing a software file that contained pre-programmed trading conditions.

Categories:

• Binary Options online
• Forex
• Forex Bitcoin
• Forex Brokers
• Binary Options