More Social Trading & Platforms | SocialTradingGuru.com

Page 2 – More Social Trading Networks Compared

The table below summarises and compares the features of more social trading networks and their platforms. Some of these are still fairly new and may have limited amount of live customers at the moment. We will however keep this page updated. As per our previous page, please note that we use the word “Traders” to identify the people and/or systems that investors can automatically copy on the social trading network. This is because most networks use different names for that.

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Social Trading Network Myfxbook Myfxbook FxStatFxstat MetaTraderMetaTrader Trade Signals BelforFxBelforFx Collective2Collective2 TradeoTradeo
Location Headquarters US UK US New Zealand US, New York Isle of Man
Social Autotrading live since 2013 2011 2013 2012 2012 2012
Broker Choice 1 broker (FXCM) Any broker with MT4 platform Any broker with MT4 or MT5 platform Own broker only About 10 Any MT4 enabled broker
Instruments Traded Forex currency pairs Forex currency pairs, Indices, Commodities Forex currency pairs Forex currency pairs, Indices, Gold, Silver, Oil,comodities Forex currency and futures (stocks too for US customers only) Forex currency pairs
Account Currency Broker dependent($, Euro, £) Broker dependent($, Euro, £, JPY, AUD, …) Broker dependent($, Euro, £, JPY, AUD, …) USD or EUR Broker dependent($, Euro, £, JPY, AUD, …) Broker dependent ($, Euro, £, JPY, AUD, …)
Minimum Investment requirement $1000 $300 (depends on broker) depends on broker though some traders to follow have higher minimum requirements $100 $300 depends on broker minimum broker deposit (from $200 upwards)
Cost / trade
(Including commissions)
Spread (dependent on broker – may include small markup) Broker Spread + $10 per traded lot commission (equals about 1 pip extra cost) Spread (depended on broker) Spread Only (spreads start from 3 pip / trade) Spread (depended on broker) + commission (dependent on followed trader/system) Spread (depended on broker)
Management/ Monthly Fees Free Free Fixed Monthly fee per followed trader/system Free Fixed monthly subscription fee dependent on followed trader/system Free
Avg. EURUSD spread 2.5 pips 3 pips 2 pips 3 pips 2.5 pips 2 pips
Myfxbook Fxstat MetaTrader Trade Signals BelforFx Collective2 Tradeo
Traders To Follow/Copy Choice About 25 Between 25 and 30 > 2000 > 300 > 300 > 10,000
Follow/Copy other Followers No No No Yes No No
Network Prerequisites for Traders to be made available to investors
Minimum 3 month trade history with 10% return and drawdown <50% Minimum 90 days profitable + due diligence on trading style 1 month trading during which minimum 5 trades and drawdown < 70% None None None
Traders required to Trade with Real Money Yes Yes No Yes (at start but can trade with bonus money afterwards) No No
Traders’ Compensation fee per lot traded in live follower accounts 50% of commission fixed monthly fee per subscriber (can decide value) % of profit made in live follower accounts traders can choose what and how they charge (fixed fee or commission per trade) None
Trader Compensation linked to Results Yes – only paid for winning trades No No Yes – only paid if profit is made No No
View Trade History from Trader Full Full Full Full Full Limited
View Current Open Trades from Trader No (depends on trader – some yes) No (depends on trader – some yes) No Yes No No
Maximum Traders you can follow/copy Unlimited Unlimited Unlimited (though payment required for each) Unlimited Unlimited (though payment required for each) Unlimited
Acc. protection through allocation/trader No No No Yes No Yes
Myfxbook Fxstat MetaTrader Trade Signals BelforFx Collective2 Tradeo
Demo/Practise Account Yes No No No No Yes
Try Tradeo Here
Download Trader’s trade history in Excel Yes Yes Yes Yes No No
Mobile Apps No Android and iPhone No Android and IOS No No
Facebook Integration No No No No No Yes
Twitter Intergation No No Yes No No Yes
Support e-mail e-mail e-mail Telephone, e-mail, online and chat 24/6 e-mail e-mail
Forum Yes Yes Yes Yes No Yes
Fund Account Depends on broker Depends on broker Depends on broker Credit / Debit Card, Alternative Payment Methods, Other Payment Methods, Wire Depends on broker Depends on broker
Languages English English + 16 other languages English, Russian Spanish, English, German, French English, German, Italian, Spanish English, French, Russian, German, Spanish, Italian, Bulgarian, Arab, Japanese
Comments Requires MT4 bridges installed on your PC and always on Internet connection Requires running MT4 or MT5 and always on Internet connection
Website Visit Myfxbook AutoTrade Visit FxStat Tradesbook Visit MetaTrader Trading Signals Visit BelforFx Visit Collective2 Visit Tradeo

 

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