List and Overview of Social Trading Networks | SocialTradingGuru

Top Social Trading Networks and Platforms

We get asked a lot of times, “Which is the best social trading platform or network?”. And to be honest, our normal response is that “this really depends on what you’re looking for”. For example, some investors will want detailed research features, advanced risk management, and trader interactions while others may want simplicity and a totally hands-off approach. However, in an effort to please everyone asking us the question, here’s our list of top 10 social trading networks and platforms.

Below is a list of the leading social trading networks. As a social trading network, we identify any website or company which enables traders to share their trades and/or trade ideas with other traders. This is the functionality which allows investors to automatically copy or mirror the trades from other traders on the network in their own trading account.

Top Social Trading Brokers 2018

List of the leading social trading platforms and networks:

eToro Openbook

eToro

Very much focused at the novice investors. eToro is both a broker and a social trading network. Much focus is given on education for novice investors with an easy to use mobile-friendly interface, while a fully functioning demo is available as well. Our full eToro review is available here.

ZuluTrade Social Trading

Kinfo

A DIY investment app that is connecting investors with influencers and bloggers, rather than Robo-Advisors. The main goal is enabling their investors to educate themselves by providing a platform that connects members with people who share a similar strategy and stimulates their users to be better investors.

ZuluTrade Social Trading

ZuluTrade

Probably the largest global social trading network at the moment, both in terms of numbers of traders and investors. Offers full trade copying (supporting multiple brokers) and social interaction capabilities with a free fully functioning demo. Read our detailed ZuluTrade review here.

Ayondo Social Trading

Ayondo

Well established German-based social trading network which is rapidly expanding throughout the rest of Europe. Became the first network to start offering auto trading for ‘spread betting Forex accounts’ for UK customers. Offers demo account and probably the widest range of trading instruments (fx, stocks, indices, bonds, interest rates, and commodities). Find our Ayondo review here.

Tradeo

Tradeo

Launched as a social trading community network in 2012 which allowed traders to share their trading activities, interact and get feedback from other traders. They removed the feature to automatically mimic the strategies from other Forex traders in 2017, though you can still ‘follow’ other traders and copy their trade signals real-time from your ‘social feed’. Free fully functioning demo is available and our hands-on Tradeo review is here.

NAGA Trader

Finovate-Europe 2016 Best of Show Winner SwipeStox takes their approach from social dating apps. Now, it has rebranded and its commercial name is NAGA Trader. Previously, it tried to make copy-trading as easy as a “swipe” of your mouse. Now, it has a more professional look and it maintains a clever algorithm that ensures that only trades which match your profile are displayed. Social interactions with other local and global traders on their network are possible too, and tutorials are available for beginners. You can try their unique trading app (available on iOS and Android). Also, a WebTrader platform is available with their demo. Full review to follow soon.

InstaForex

InstaForex ForexCopy

InstaForex has been voted “best broker in Asia” and has a fast-growing worldwide customer base. Their ForexCopy system enables you to follow successful Forex traders and copy their trades in your account on a set ratio. Alternatively, you can use their PAMM system to invest in other top traders and let them trade with it. You can see the full list of ForexCopy trading accounts which you can choose to copy on their website.

Tradency Mirror Trader

Tradency Mirror Trader

Tradency is a financial technology company who’s a key trading platform, Mirror Trader, allows traders and strategy developers from around the world to open, close and share their trades. With the automatic mirroring functionality, these trades can be automatically copied. Their platform is available through a list of brokers, though currently doesn’t include social interaction capabilities yet. You can read our Tradency Mirror Trader review here.

Myfxbook

Myfxbook

Started as a pure trading network where traders can connect their trading accounts to share their live trading signals and interact in their active Forex community forums. Also provides real-time charts and market indicators. In partnership with 1 broker, they added “AutoTrade” capability in 2013 which allows investors to copy trades from a small subset of the traders on their network. Demo available. Find our hands on myfxbook AutoTrade review here.

Darwinex

Darwinex

Darwinex launched to investors in September 2014. This innovative investment platform also lets you invest in other successful traders. However, instead of directly copying them, you purchase a DARWIN, similar to a stock or share, which tracks the performance of the top trader. Read more about Darwinex here.

CopyFX

CopyFX

This is the social copy trading service of RoboFOREX, an international broker established in 2009 with a focus on providing tools for expert auto robot traders. Via their CopyFX service, you can view their best performing traders and automatically copy them via your account. You can try risk-free via a demo account first.

MyDigiTrade

MyDigiTrade

Created in 2010 by a group of independent traders as a platform for mirroring trades made by professional traders, they added the social aspects to allow users to comment and rate the traders/signal providers. Works with multiple brokers and demo available too.

IronFX

IronFX Social Trader

IronFX is a global FX broker with customers in over 180 countries and support in 45 languages. They allow their clients to follow and copy successful trading strategies from others within their trading community, in real time. IronFX uses the advanced Sirix Social WebTrader platform for their social trading offering. Free demo available via their website.

LiteForex Social Trading

LiteForex Social Trading

While LiteForex started in 2005 with a strong focus on the Asia Pacific markets, they’re now a true global broker. Their social Forex platform allows you to automatically duplicate the best trades from other successful traders, to share information and to communicate live with these experts. You can try their copy service with a demo account. If you trade with real money, LiteForex also offers PAMM accounts and significant deposit bonuses.

FX Junction

FX Junction

FX Junction is an open social trading network which connects Forex traders and MT4 brokers around the world. Their platform allows you to share trade ideas and discuss market events. You can also share and analyse your own trading performance or follow and AutoCopy others traders on their service.

MetaQuotes MetaTrader

Trading Signals: Over 600 brokers and banks around the world use the MetaTrader 4 and 5 platforms. From 2013 they added functionality which allows every trader on their platform to become a subscriber or a provider of trade signals. The signal providers can be discussed in their online community as well.

FxStat

FxStat

Started in 2010 as a Forex analytics provider allowing traders to analyze their own performance with more than 150 statistical tools, graphs, and ratios, and compare this with other traders over the world. Over time they added a social trading community and auto-trading functionality.

CM Trading CopyKat

CM Trading CopyKat

This online brokerage lets you follow and copy other traders through their “CopyKat” feature. This uses the advanced SIRIX trading platform which is also used by various other brokers. CM Trading does, however, use an open approach which means you can mirror the trades of everyone on SIRIX, so also top professional traders at other brokers.

Collective2

Collective2

This technology provider also offers a trading-system platform which allows the tracking and auto-trading of trades from multiple sources. They sell their solution to 3rd party Forex brokers or financial service companies who can white-label it, though offer the service through their own brand and website too via a few partner brokers.

Share4you

Share4you

Share4you is the social trading network for the customers of Forex4you broker. The service allows beginner traders to copy the trades from experienced Leader traders with accounts at this broker. Both companies are part of the E-Global Trade & Finance Group.

cMirror

cMirror

This new mirror trading platform was launched in November 2014 by Spotware, the same company who develops the cTrader Forex trading platform. With cMirror any trader can become a strategy provider by broadcasting their trade signals and optionally charging commissions. Other social traders (investors) can then search through the available strategies on the network and mirror/copy the ones they like.

SIRIX

SIRIX

SIRIX is an advanced trading station and platform for forex and CFD traders developed by Leverate, a brokerage technology provider. In addition to the trade execution and charting functionality, the platform also includes a social trading component. This allows you to follow and automatically copy other traders. The tool is being sold directly to brokers (you can try it for free at IronFX and CMSTrader).

The following platforms and networks focus on social networking and/or content aggregation only. I.e. no automated trade copying:

 Peeptrade

 Peeptrade

Peeptrade calls itself “The Social Network for Investors”. Launched in 2015 they offer a slightly different approach to the other networks. You can look (“peep”) into the portfolios of successful investors who trade anything from individual equities, bonds and commodities to options and other derivatives. You normally have to pay the investor a monthly fee to “peep” but some offer a free trial.

 TradingFloor SAXO

TradingFloor

TradingFloor is the social trading community and platform from the SAXO Bank Group, the global Danish multi-asset broker. Launched in 2013 the platform gives Saxo customers access to the latest market news, expert opinions, an economic calendar, and the aggregated forex positions. TradingFloor also allows you to analyse the historical performance and see the real-time trading activity of other traders connected to the community. You can place trades based on the information you gather from SAXO’s social community, though you cannot automatically copy other traders.

 nextmarkets

NextMarkets

It cannot get too much more social than this. Instead of trade copying, NextMarkets allows you to choose one (or more) personal trading coaches (for a monthly fee). You then get all their trades and strategies delivered by email or push notification. When your coach is in a trading session, you can also look over his shoulder and follow his trading activities live from your home pc or on the go with their smartphone apps. So you can learn from these professionals, though you must decide whether to copy or not.

 FxPro

FxPro

FxPro is one of the world’s most popular Forex brokers. While they discontinued their own SuperTrader mirror trading platform, you can still use them as a broker with other networks like ZulTrade. For any social trader, they also offer useful information and tools. Their ‘Client Positions’ chart is very valuable because of the quality and amount of their traders. You also get free access to Trading Central, a leading global provider of fx signals and technical financial analysis, with a proven track record in delivering accurate assessments of the financial markets.

 StockTwits

StockTwits

Founded in 2008, StockTwits® is a social communications platform for the financial and investing community. It organises “streams” of information around stocks and markets from across the web and social media to provide new forms of insight. No trade copying here, just network and info.

 NVSTR

NVSTR

Launched in 2017, Nvstr is a new social investing platform that lets you discuss investing ideas with others. You can connect and communicate directly with your friends and other investors, as well share and browse ideas for investments. In addition, Nvstr also gives you access to algorithms that analyse the infinite investment allocation possibilities to identify the one best tailored for you. Their technology is based on independent, well-established Nobel Prize-winning research on portfolio allocation.

 Agea

AGEA

AGEA is an international Forex broker. In 2005 they became one of the first to incorporate social networking into their proprietary trading platform, called “Streamster”. This platform allows and encourages their traders to share experiences and discuss trade ideas. There’s no auto-copying of other traders but the social platform can be tried with a demo account.

 Scutify

Scutify

Social media aggregator which collates all the talk and chatter on your favourite Stocks, FX pairs and Commodities. Again, no auto-trading, but information only platform.

 Hashtag Investing

Hashtag Investing

Online trading communities and chat rooms are nothing new. Hashtag Investing tries to diversify itself by offering a premium community service (paid monthly or annually) run on the Slack team workspace platform. The focus is on stock investors, not Forex traders.

This market is evolving very rapidly with new networks and solution providers trying to take a piece of the social trading market space, so expect this list to grow. We purposely left out some of the very small social trading networks which only have a few traders or strategies available on their platform to copy or some companies whose platforms are still in beta testing phase.

Some companies may disappear as well. E.g. Alpari discontinued its TraderConnect social FX service in June 2014, IBFX discontinued Connect one month later, Currensee closed on October 31st, 2014, ZipSignals ceased trading in December 2014, FxPro closed their SuperTrader platform in Q 2016, Signal Trader closed on December 5th, 2016, Gallant “Trade Copier” ceased in April 2017 and TradeCrowd in June 2017.

As we mentioned before, please read our full reviews of the major ones (based on first-hand investment experience), or try some of the key ones which offer social trading demo accounts (list here).

How we reviewed the best social trading networks & platforms

We based our list on four key components: Features, Traders, Costs and Support/Social:

  • Features: Rates the amount & quality of the data and features available on the site to analyse the traders to copy, as well as the platform capabilities for investors to manage risk and open trades. We are very much in favour of complete transparency with regards to the historical and open trade data. Therefore, we penalise networks which don’t do so.
  • Traders: The choice and quality of the traders available on the social trading platform for investors to follow and copy. Availability of traders who risk there own money and have long positive trade history data will rate higher. The choice is important too since not everyone wants to copy the same type of trader or strategy.
  • Costs: This rates not only the cost of using the platform (subscription, management and/or performance fees), but also takes into account other factors which have an impact on the overall cost to you. E.g. account deposit and withdrawal fees, average spreads and slippage (i.e. the difference between the price you get as an investor and the price the trader got – high slippage means less profit or more loss for you and hence is a cost too).
  • Support/Social: By this, we take into account not just the customer support offered by the network, but also the user guides, FAQs and other support documentation available on the sites. Social refers to the interaction possibilities offered between investors themselves as well as between the investors and the traders/strategy providers (often this is in the form of forums, comments or ratings).

In addition to looking at the table below, you can also consider looking at the comparison of all the social trading platforms features and read the individual network reviews.