What was TradeCrowd?
Please note that TradeCrowd ceased operating in Q2 2017. We do however leave this description online for those of you who want to read what this company and network did.
TradeCrowd launched their social trading network in Q4 2013 and are registered in the UK. Their aim is to give traders real-time access to the latest market information, trading ideas, opinions and news about the trading instruments they’re interested in.
Joining TradeCrowd is totally free. Once you’ve joined and completed a short questionnaire you get full access to their social trading platform. You can also select the trading instruments and/or traders you’re interested in. You can follow anyone who’s registered on TradeCrowd and you can post messages as well. However, actual trade signals are only displayed for traders who trade with their real live money accounts.
With regards to the instruments, the TradeCrowd platform will then display:
- the real-time prices for these instruments (with option to buy or sell)
- relevant and related global Twitter conversations
- related conversation from TradeCrowd’s social network and community
- real-time trades opened and closed in these instruments on TradeCrowd (with option to copy or contra copy)
- relevant external article links
With regards to the traders you can see:
- their latest posts and updates
- their real-time opened and closed trades (with option to copy or contra copy)
When you want to start trading yourself or copy trades from other traders, you do have to open a live trading account through TradeCrowd. Live accounts are offered in partnership with Tradenext, a well established London based and UK regulated Forex and CFD broker. Your live account lets you trade Forex instruments as well as the major indices and commodities (shares are to be added soon). The account is commission free (i.e. only broker spread) and leverage is offered up to 200:1.
It’s worth noting though that when you want to copy the traders you follow, you have to do this real-time from the TradeCrowd interface. I.e. the trade copying is currently not fully automated like with some of the other social trading networks. However, it seems this functionality will be added in the near future too.
The initial release of TradeCrowd is very much focussed on the “social” element, aiming to give beginner and more experienced traders access to relevant “real-time” information to assist them in making informed trade decisions.