27 Best Social Trading Platforms

 

Overview

Social trading is a form of dealing that enables traders or investors to copy and execute the strategies of their peers or more experienced traders.

 

While most traders perform their own fundamental and technical analysis, there is a class of traders that prefer to observe and replicate the analysis of others.

 

Social trading opens trading and investing up to everyone. Social platforms (and brokers) allow traders to copy more experienced investors who share their trading information.

 

Retail traders can see what professional forex traders do across the network and make exactly the same trades from their broker platform or app.

 

Experienced traders can also benefit with social trading platforms like eToro, Zulutrade and Ayondo all keen to host profitable traders.

 

 

In this article we explore the 27 best social trading platforms that will allow you to make the most out of your trading career.

 

Here are our 10 Best Social Trading Platforms

 

Let’s get started with the full breakdown of the Best Social Trading Platforms.

 

InstaForex

 

 

Overview

InstaForex provides its version of a social trading platform which is called ForexCopy. This system allows traders the chance to offer strategies, as well as allowing others to profit off commission within the platform.

For experts at trading, this is a big bonus and one that shouldn’t be understated when it comes to professionals looking to try out a different broker.

For beginners, copy trading through the ForexCopy system can be a good start of their trading career, as they can see the deals copied to their accounts, thus watching how more experienced traders work.

 

Pros and Cons

✔️PROS	❌CONS
Relatively high maximum leverage No minimum deposit Reputable regulation

 

Features

Feature	Information
Regulation	CySEC
Minimum deposit from	No minimum deposit
Average spread from	Average floating 0.8 pips
Commissions from	‎None
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	30% Deposit Bonus
Customer Support	24/5

 

Tickmill

 

 

Overview

Tickmill allows all social trading methods, enabling you to trade using MQL signals, AutoTrade, and even become a Multi-Account Manager.

As part of this commitment, Tickmill launched a project in collaboration with ForexClub.pl, the leading Polish forex education resource and one of the most successful professional money managers in Poland.

This course helps new traders get started with social trading, a fast-growing trend in the FX trading industry.

 

Pros and Cons

✔️PROS	❌CONS
Competitive pricing Well regulated High leverage Advanced trading software STP model

 

Features

Feature	Information
Regulation	FSA
Minimum deposit from	US Dollar 100
Average spread from	0.1 pips
Commissions from	‎2 per side per 100,000 traded
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	US Dollar 30 Welcome Bonus
Customer Support	24/5

 

OctaFX

 

 

Overview

Copy-trading with OctaFX’s app allows you to get huge profits without effort by making investment decisions in the palm of your hand.

The OctaFX Copytrading app lets you conveniently invest almost any amount for any term—you can withdraw your profit at any time. All setups are simple and intuitive: you can easily manage your investment, even while dining in a restaurant or riding on a train.

 

Pros and Cons

✔️PROS	❌CONS
Ultra-fast execution	No VPS available
More than 30 forex pairs available Well-regulated	No Forex educational tools

 

Features

Feature	Information
Regulation	CySEC
Minimum deposit from	US Dollar 100
Average spread from	0.7 pips
Commissions from	None
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	50% Deposit Bonus
Customer Support	24/5

 

Swissquote

 

 

Overview

The Swissquote Pulse social trading app allows traders to discuss the latest trading ideas and financial news. Catering to beginner and pro traders there is something for everyone and social trading is possible in a good spread of languages.

 

Pros and Cons

✔️PROS	❌CONS
Comprehensive product portfolio Solid reputation No additional forex fees	High trading fees

 

Features

Feature	Information
Regulation	FCA
Minimum deposit from	None for standard account
Average spread from	1.6 pips
Commissions from	None
Deposit/Withdrawal Fees	US Dollar 10
Maximum Leverage	1:400
Bonuses	Refer a Friend Bonus
Customer Support	8/5

 

City Index

 

 

Overview

At City Index, account-holders who want to engage in Copy trading can do so through the MT4 platform.

MT4 supports traders looking to run their own algorithmic programs it is also possible to install the third-party software, Expert Advisors which allows City Index clients to apply the trading signals of others onto their own account.

 

Pros and Cons

✔️PROS	❌CONS
Low trading fees No fees for deposit and withdrawal Comprehensive research tools	Limited product portfolio

 

Features

Feature	Information
Regulation	FCA, ASIC
Minimum deposit from	US Dollar 100
Average spread from	1.5 pips
Commissions from	‎US Dollar 3
Deposit/Withdrawal Fees	None
Maximum Leverage	1:200
Bonuses	Deposit Bonus
Customer Support	24/6

 

LiteForex

 

 

Overview

LiteForex is an old and experienced broker that has been in operation for over a decade. The brand has expanded its services across the globe. The number of clients participating in the contests is overwhelming. The social trading community is also very active.

The social trading platform is perfect for new traders and expert traders too.

 

Pros and Cons

✔️PROS	❌CONS
Social trading available MetaTrader 4 and 5 are available Multilingual customer support	Limited trading instruments No VPS available

 

Features

Feature	Information
Regulation	Marshall Islands Business Corporation Act
Minimum deposit from	US Dollar 50
Average spread from	1.9 pips
Commissions from	No commissions
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	100% forex deposit bonus
Customer Support	24/5

 

Darwinex

 

 

Overview

Darwinex launched in September 2014 as a new and innovative social/copy trading service. It is an innovative social trading and investment platform which connects independent traders with potential retail investors.

 

Pros and Cons

✔️PROS	❌CONS
Competitive spreads Three base currencies available	You have to sign up either as a trader or an investor 20% performance fee Complicated account opening process

 

Features

Feature	Information
Regulation	FCA
Minimum deposit from	US Dollar 500
Average spread from	0.0 pips
Commissions from	3.0 USD per lot round-trip
Deposit/Withdrawal Fees	0.5% for skrill
Maximum Leverage	1:30
Bonuses	None
Customer Support	24/5

 

HotForex

 

 

Overview

The HFcopy platform from HotForex is a great tool that allows traders to join forces with each other to try and master the markets.

Individuals can create trading strategies and earn a Performance Fee by taking up the role of a Strategy Provider or copy trades as a Follower without needing to actually trade or to closely follow the market ups and downs.

 

Pros and Cons

✔️PROS	❌CONS
Award-winning broker	Offshore broker
Well regulated
Low minimum deposit

 

Features

Feature	Information
Regulation	CySEC, DFSA, FCA, FSA, FSCA
Minimum deposit from	US Dollar 5
Average spread from	0,0 pips
Commissions from	USD 0.03 per 1K lot.
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	100% Supercharged Bonus
Customer Support	24/5

 

FXCM

 

 

Overview

FXCM allows social trading through the ZuluTrade platform. A pioneer in the arena of “social trading,” ZuluTrade presents individuals with a method of consulting and copying the trades of other traders in real-time.

ZuluTrade is an attractive alternative for individuals who are just starting out or those who simply do not have the time to fully engage the forex.

 

Pros and Cons

✔️Pros Excellent educational resources for beginner traders Low minimum deposit requirement Advanced research tools Excellent customer support

❌Cons No Web Trader option available for trading platforms Rudimentary mobile trading platform Limited product portfolio

 

Features

Feature	Information
Regulation	FCA, ASIC, ACPR, FSP
Minimum deposit from	US Dollar 50
Average spread from	1.3 pips
Commissions from	£4 per standard round-turn lot (£2 per side)
Deposit/Withdrawal Fees	None
Maximum Leverage	1:400
Bonuses	US Dollar 20 Welcome Bonus
Customer Support	24/5

 

Pepperstone

 

 

Overview

Pepperstone has partnered with numerous social trading platforms for forex and CFD traders who wish to follow and copy trades made by others. These include ZuluTrade, MetaTrader 4 Signals, Myfxbook, and Mirror Trader.

 

Pros and Cons

✔️Pros No minimum deposit Low trading fees for forex No added costs for withdrawals or deposits

❌Cons A limited number of instruments No additional research tools

 

Features

Feature	Information
Regulation	FCA, ASIC
Minimum deposit from	AUD200
Average spread from	0.4 pips
Commissions from	‎US Dollar 3.76 commission per lot per trade
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	None
Customer Support	24/5

 

eToro

 

 

Overview

eToro also offers the widest diversity of instruments for you to trade on compared to other social trading platforms.

In addition to the usual currencies and commodities, you can also trade major indices, stocks, ETFs, and cryptos. The benefit of this is the potential diversification of your portfolio.

 

Pros and Cons

✔️PROS	❌CONS
Well-regulated	Limited account base currencies
Advanced trading platforms	Withdrawals can be slow
Low minimum deposit

 

Features

Feature	Information
Regulation	CySEC, FCA, ASIC
Minimum deposit from	US Dollar 50
Average spread from	0.75 pips
Commissions from	No commission on stocks and ETFs
Deposit/Withdrawal Fees	US Dollar 5
Maximum Leverage	1:30
Bonuses	US Dollar 50 Welcome Offer And US Dollar 50 Per Referral
Customer Support	24/5 – multilingual

 

Go Markets

 

 

Overview

GO Markets is one of Australia’s original Meta Trader 4 Forex brokers. In Investment Trends December 2019 Australia Leverage Trading Report, GO Markets was rated No.1 for customer service.

The broker’s educational programs also achieve the highest satisfaction award.

With GO Markets you can trade more than 350 products including Forex, Share CFDs, Commodities, Indices, and Metals with GO Markets MetaTrader 4 & 5 trading platforms.

 

Pros and Cons

✔️Pros Low trading fees Ultra-fast execution Advanced analytical tools Low minimum deposit

❌Cons Limited account options

 

Features

Feature	Information
Regulation	ASIC
Minimum deposit from	US Dollar 1
Average spread from	1.5 pips
Commissions from	None
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	30% Deposit Bonus
Customer Support	24/5

 

Alpari

 

 

Overview

Alpari International offers a variety of trading accounts that offer unique advantages to both beginner and advanced traders, as well as those interested in social trading.

Alpari International offers a wide range of services suitable for both beginner and advanced traders.

A mixture of commission-free and commission-based accounts with varying spreads and access to different amounts of leverage make Alpari International’s offering quite unique.

Beginner traders have access to low minimum deposit accounts to get started, as well as access to the world’s best-known trading platforms MetaTrader 4 and MetaTrader 5.

Advanced traders have access to accounts that provide institutional-grade spreads through ECN Forex as well as a wider market range to trade on.

 

Pros and Cons

✔️PROS	❌CONS
Advanced trading platforms	Limited independent research tools
Excellent customer support Caters to a wide range of trading styles and experience levels

 

Features

Feature	Information
Regulation	Financial Services Commission (FSC)
Minimum deposit from	US Dollar 100
Average spread from	1.2 pips on majors
Commissions from	charged at 4 units of the Base currency
Deposit/Withdrawal Fees	None
Maximum Leverage	1:1000
Bonuses	Cashback Promotion
Customer Support	24/5

 

FP Markets

 

 

Overview

FP Markets offers superior features, charting capabilities, signals, plus automated and copy trading functions. Traders also enjoy an improved strategy tester for greater precision with trading robots.

 

Pros and Cons

✔️PROS	❌CONS
Competitive trading fees	High stock CFD Fees
Easy account opening Fast processing for deposits and withdrawals	Limited range of asset classes

 

Features

Feature	Information
Regulation	Australian ASIC, Cypriot CySEC, SCB
Minimum deposit from	US Dollar 100
Average spread from	0.5 pips
Commissions from	US Dollar 55 monthly commission for IRESS Trader users only
Deposit/Withdrawal Fees	None
Maximum Leverage	1:500
Bonuses	US Dollar 30 Welcome Bonus
Customer Support	24/5

 

XM

 

 

Overview

XM offers a social trading service. The Mirror Trader platform allows investors to mirror professional traders on their own trading accounts and execute trades manually, semi-automatically or automatically.

 

Pros and Cons

✔️PROS	❌CONS
Low CFD and withdrawal fees	Average forex fees
Great educational tools	Inactivity fees

 

Features

Feature	Information
Regulation	IFSC, ASIC, CySEC, FCA and DFSA
Minimum deposit from	US Dollar 5
Average spread from	0.1 pips
Commissions from	US Dollar 3.5 commission per US Dollar 100 000 traded
Deposit/Withdrawal Fees	None
Maximum Leverage	1:30
Bonuses	US Dollar 30 Trading Bonus
Customer Support	24/5

 

FXTM

 

 

Overview

FXTM Invest is an innovative way you can access the opportunities of trading without any technical skills, and the minimum of time.

You simply choose to copy FXTM traders (also known as Strategy Managers) who are right for you and make their trading strategies available to follow.

Copy-trading with FXTM Invest lets you retain full control of your money, and you’ll only pay a fee to your Strategy Manager when they make a profitable trade.

 

Pros and Cons

✔️PROS	❌CONS
Superb customer service	Inactivity and withdrawal fees
High maximum leverage	Limited product portfolio
Great educational tools

 

Features

Feature	Information
Regulation	CySEC, FCA, FSCA
Minimum deposit from	US Dollar 100
Average spread from	0.9 pips
Commissions from	No commission
Deposit/Withdrawal Fees	US Dollar 3
Maximum Leverage	1:500 on average
Bonuses	US Dollar 300 Trading Bonus
Customer Support	24/5

 

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