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.
eToro
eToro
| Social Trading Network | Myfxbook  |
FxStat |
MetaTrader |
BelforFx |
Collective2 |
Tradeo |
| 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 |
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| 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 |
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| 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 | Telephone, e-mail, online and chat 24/6 | |||||
| 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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