Social Trading Platform

 Social trading is a form of investing that allows traders to copy and mirror trades from more experienced traders.

The majority of people think of Forex social trading as a tool that just allows them to copy other people's trades. Social network trading, on the other hand, goes beyond simply copying live Forex deals. It enables you to learn new trading methods as well as receive trading 'tips and tricks' from more experienced traders.

 In the financial world of trading, a social trading platform can help you improve your chances of 'winning' and become a better trader.

A social trading platform is a trading community that exists online. Traders may interact, learn, and exchange fresh trading ideas using social trading networks for forex and other assets. Users can utilise this to educate themselves, as well as potentially copy other users' trades onto their own brokerage trading accounts.

How does social trading work?

Forex social trading is a simple issue to solve. To begin, choose one of the top social trading platforms that supports copy trading. Traders can exchange their techniques, trading ideas, and actual performance in forums on the top social trading platforms. You may start duplicating a profitable trader's trading operations with a few clicks once you find one with a decent track record.

To add to your investment portfolio, choose the most profitable Forex trading tactics from one of the top Forex traders. The social trading platform will then keep track of all the trading activity of the traders you've chosen to copy. Everything is done in real-time.

These skilled traders' deals will be automatically executed in your brokerage trading account.

Take, for example, a trader who opened a long EUR/USD position. The exact same trade will be reproduced on your account automatically. It's uncommon to have the same account balance as the trader you're attempting to replicate. The greatest social trading platforms will include tools that allow you to adjust your bids so that you don't go over your budget.

Following that, you can choose to copy trades using a fixed amount independent of the original number of stocks opened in the copied account, depending on your risk tolerance. You can also choose to open trades in proportion to your account balance. You keep the same amount of risk as to the mirrored account this way.

See the main benefits of social trading 

Earning Passive Income

The first advantage of social trading is that it allows you to generate some passive income as you learn the ropes of the market. Before you obtain the necessary experience to perform trading activities on your own, you can start making money from trading.
A social network platform can also help you earn additional profits and follow new trading ideas, even if you're already an experienced trader.

Quick Access to Reliable Trading News

Trade on social sites can make finding reliable trading news and information much easier. Twitter is an excellent example of a social trading platform that provides real-time and quick access to a wide range of data. Twitter is an excellent networking tool since it brings traders together and allows them to learn from more experienced traders.

Twitter is becoming one of the most popular social media platforms for traders. Because you may discuss your favourite trading stocks or currency pair on Twitter, it's a really versatile platform. Follow breaking news that has the potential to affect market volatility and provide plenty of new trade ideas.

Building a Trading Community

Trading may be a lonely industry, therefore a social trading platform can help. Joining social trading platforms is a great way to meet people in the trading world and make new connections.

Being in the company of other traders can help you learn new trading methods and tricks. It's also simpler to keep motivated when you're surrounded by good traders.

Let us take a step forward and investigate where the greatest social trading platform can be found.

Best Social Trading Platform

A social trading platform is a place where users can share and access each other’s trading activity. The best social trading platform should provide you with a wide selection of traders that have mastered the game of trading and are able to generate profits in the long run.

Based on their performance you can then pick out the most promising and profitable traders and copy their trades.

BiTRobo

If you want to make money in the forex market but don't know where to start, BitRobo is the place to go. They will make it easier for you to interact with a profitable trader. You can observe how their plan appears and how it executes with BitRobo.

Bitrobo is a fund managing company which is offering Daily Trading Profit to its investors. The company is owned by well experienced forex traders having 10+ years of experience in trading Forex and Metals. Besides, management of funds, Bitrobo is also offering Copy Trading Service for its clients. The goal of BitRobo is financial freedom for everyone.

BitRobo Investment

Anyone can invest in BitRobo with $50 minimum deposit. Bitrobo investment plan is distributed in ten ranks. Beginner to Ultimate Rank investors will get 4%-6% daily trading profit in 30 working days. From Bronze to Platinum Rank, Investors daily trading profit would start from 4.2%-6.2% and it will reach 5%-7% at the highest platinum rank.   

 

Conclusion

In conclude, Forex social trading might be a great strategy to earn money while you sleep. On the other hand, you must perform your own due research before selecting traders to follow and duplicate their moves. As usual, ensure that you are aware of the potential risks with this activity and that you are prudent with your hard-earned cash.

If you're already a good trader, networking site trading can help you earn more money by allowing you to share your profits with your other trades. Other drawback is that other people are relying on your trades to make money, which can be stressful.

To trade stocks, Forex, or cryptocurrency successfully, you'll need more than just a lot of experience; you'll also need to be able to read price charts correctly. We hope that this tutorial has answered any queries you may have had about social trading strategies.