Best Forex Social Trading Platform

eToro – Top Trading Platform for Social Trading

eToro was picked as the best platform for social trading. eToro is more than just the world’s first social trading network, it’s a fully regulated brokerage trading firm. This Fintech company operates one of the largest social trading networks worldwide under the supervision of the CySEC, FCA and ASIC regulatory authorities.

eToro Has One of the Best Social Trading Platforms

Clients who lack sufficient experience in trading the Forex market and those who simply do not have the time to closely track market movement are granted the opportunity to earn a passive income by signing up with eToro.

With the broker’s copy trading platform, those users are able to replicate the trading activity of other clients, usually traders with a proven track record. They can be selected based on various criteria through eToro’s platform – for example, risk score, return for the past 12 months, the number of copiers, preferred markets to trade, maxim drawdown, etc.

After a top-performing trader is located and selected, clients need to allocate a certain portion of their available account balance to start copying him/her.

At the same time, traders with proven strategy are also granted an incentive, if copied by other users. They can participate in eToro’s Popular Investor Program and be paid up to 2.5% of their annual assets under management, or the total amount other users have allocated to copy their trading activity.

Clients Can Copy Trades of 100 Traders at Once

To copy a trade, clients need to simply click on the icon of the experienced traders of their choice, input the total amount for the copy, and then click on the “Copy” button.

eToro has allowed clients the flexibility to stop the copy, to put it on hold, to add and to remove funds whenever they like. Clients are able to replicate the trading activity of up to 100 other users simultaneously.

Copy Trading on another Level

eToro brings copy trading to a higher level with other unique features:

• CopyPortfolios – it is an investment product that bundles together a set of financial instruments
• Top Trader Portfolios – it is an investment product that bundles together a set of best-performing trading strategies from more experienced traders
• Partner CopyPortfolios – it’s an investment product that allows traders with more trading experience to create, promote and manage their own CopyPortfolios and attract new investors
• Copy trades on 94 cryptocurrencies

CopyPortfolios require longer investment periods and are designed to minimize long-term risk. As such, they can generate up to double-digit annual returns. The minimum investment amount required is $5,000, while eToro will not charge any management fees.

After investing in a CopyPortfolio, clients’ capital will be professionally managed by the broker’s investment committee. Each portfolio will be subject to in-depth analysis and will be rebalanced automatically in order to maximize gains.

Final Words – Best Social Trading Brokers

All in all, what eToro offers is not just a social trading platform, but also access to a huge community of traders and investors, where clients have the opportunity to share their ideas and enrich their trading knowledge. eToro requires a minimum deposit of $200 for copy trading, while every copied position needs to be at least $1 in value. Click the button below and drive test their social trading networks.

FXCM – Trading Forex with AI Trading Central

FXCM was hand-picked for its copy trading services powered by Trading Central artificial intelligence machine. FXCM, a leading Forex trading services provider regulated by UK’s FCA, France’s AMF, Australia’s ASIC and South Africa’s FSCA, offers its clients powerful pattern recognition software that uses AI algorithms to generate buy and sell signals.

FXCM combines social trading with:

• Zero commission trading
• A powerful range of trading platforms (Trading Station, MetaTrader 4, NinjaTrader and TradingView)
• 5 financial markets – 40 forex currency pairs, share CFDs, indices, commodities, cryptocurrencies and trading baskets that include currency pairs, stocks and cryptocurrencies (5 big cryptos including bitcoin)
• Exclusive trading tools that can make copy trading smoother
• Variable spreads – average spread cost for trading EUR/USD is 1.3 pips (based on price data from Sept 1, 2020, to Sept 30, 2020)

Trading Forex with Price Improvement

FXCM clients can save money in price improved trades. Over 88% of executed trades through one of FXCM’s trading platforms have zero or positive slippage. Since the forex market prices are constantly moving and changing instantly, you need to make sure you get the right price on the copy trades.

In addition, 28.37% of all copied trades received positive slippage and only 11.8% got negative slippage.

On the downside, the Trading Central indicator is only limited to trading signals, and it doesn’t incorporate the full benefits of the social trading platforms. More, the indicator is only designed to work on the FXCM Trading Station desktop version.

Final Words – Forex Brokers That Support AI

Overall, FXCM offers the best copy trading feature that is powered by an artificial intelligence machine. Additionally, clients can capitalize on the MT4 signals, ZuluTrade auto-trading platform and FXCM plus trading signals. Clients should bear in mind that the signal service offered through Trading Central cannot be considered as investment advice!

View FXCM Review >>Visit FXCM >>

Darwinex – Social Copy Trading Extensive Community

Darwinex was chosen for offering the most extensive and most active social copy trading network. Founded in 2012, Darwinex is a trademark of Tradeslide Trading Tech Limited, an entity regulated by the UK’s FCA. Darwinex is an innovative online brokerage that links experienced traders who operate in the global financial markets with investor capital.

Darwinex allows copy trading by investing in a revolutionary investment product called DARWIN. DARWIN lets you tap into the expertise of professional traders and automatically replicate their performance.

Darwinex combines social copy trading with:

• Direct market access (DMA) on over 300 financial instruments
• Commissions starting from $2.5
• Co-located servers at London Equinix LD4 Data Centre for fast order speed
• Interbank liquidity through SaxoBank and LMAX
• Select from over +2,000 trading strategies

Darwinex Features Review

Unlike regular copy trading platforms, where brokers’ clients copy others directly, with Darwinex, clients are able to invest in the so-called DARWINs – Dynamic Asset and Risk Weighted Investment. The latter is a tradable asset, based on a trader who trades at Darwinex, or on an automated strategy. This means clients can buy and sell DARWINs, while the value of each DARWIN depends on the performance of the trader or the automated strategy it is based on.

Darwinex will list only traders (or DARWINs) that are considered investable. Traders’ performance is graded on a 0-10 scale based on factors such as risk management, experience, timing, consistency and scalability. These factors combined represent the so-called DARWIN investor appeal (DarwinIA) score (D-Score).

At the same time, Darwinex will not disclose traders’ historical record or active trades to investors or other members of the public. Investors are able to invest in traders only as DARWINs!

Darwinex Copy Trading Fees

Currently, more than 2,000 liquid alpha strategies (DARWINs) are available to invest in. Their underlying instruments can be currency pairs, shares, commodities, or stock indices. Strategies (DARWINs) are not correlated with the market.

Darwinex can boost the following performances:

• EUR 7.5 million in monthly allocated funds
• USD 2.8 million in performance fee paid
• USD +55 million in funds that bought into DARWINs
• 60% cheaper than traditional trading

Darwinex will charge investors an annual 1.2% fee on invested equity and a 20% performance fee if they earn a profit with a DARWIN. DARWIN providers (traders) get 15% of that 20% performance fee and Darwinex – the remaining 5%. The main incentive for traders is to remain consistently profitable.

Final Words – Best Social Networks for Investing

All in all, Darwinex is an unorthodox marketplace for social trading solution. The risk management algorithms employed by Darwinex ensure investors’ money is protected from reckless trading activities. Unlike traditional social trading platforms, Darwinex does not allow social interactions between traders and investors. You can start investing in DARWINs with a minimum capital of $200.

IC Markets – ZuluTrade Social Trading Software

The best forex broker compatible with social trading software ZuluTrade is IC Markets. Founded in 2007, IC Markets is a reputable, multi-regulated broker with a focus mostly on Forex trading, though it also offers Cryptocurrencies and CFDs on Stock Indices, Stocks, Bonds and Commodities, accessed through a range of powerful trading platforms – MetaTrader 4, MetaTrader 5, cTrader.

IC Markets is the trading name of International Capital Markets Pty Ltd, an entity regulated by the ASIC in Australia, while in Europe it operates as IC Markets (EU) Ltd, an entity regulated by Cyprus’ CySEC.

IC Markets combines the social trading community powered by ZuluTrade with:

• Raw interbank spreads starting from 0.0 pips (EUR/USD average spread of 0.1 pips)
• Fair trading fees of $3.5 per standard lot round turn
• 7 different financial markets (exclusive access to bonds and futures)
• Low latency and fast order execution speeds which are mandatory for precise replication of the signal providers
• Collocated VPS services for uninterrupted copy trading services

ZuluTrade Social Trading Community

ZuluTrade is one of the leading social trading platforms, which enables IC Markets clients to select from 100,000 experienced traders from 192 countries and trade based on their trading signals free of charge.

Auto-trading with the ZuluTrade platform is an appropriate solution for people who do not have the time to establish and test trading strategies of their own, as well as for Forex traders who wish to get rid of the emotional factor in trading.

IC Markets clients can choose experienced traders to follow based on their Zulu Rank. Forex signal providers are ranked based on analysis of their overall performance, exposure, stability, minimum equity required, among other factors. Yet, IC Markets clients should be aware that selected traders’ past performance is not necessarily indicative of future results!

Zulu Guard

Another valuable feature of this social trading platform includes the so-called Zulu Guard. It represents an advanced account protection tool, which monitors the performance of selected traders 24 hours a day, 7 days a week and, whenever required, it steps in to protect clients’ invested funds.

ZuluTrade also offers a simulative tool, with which IC Markets clients can test possible earnings or losses of particular strategies on their account without the need to go live.

Final Words – Best ZuluTrade Forex Broker

Overall, IC Markets is the best fit for ZuluTrade due to low spreads, reduced slippage, fast withdrawals, superior technology, fast execution and a solid client base of 100,000 active traders. We should also note that the ZuluTrade platform is available as an app for Android, iPhone, iPad and Windows phone. Register for a FREE demo account by clicking the button below.

Markets.com – Top For MetaTrader Signals On MetaTrader 4

Markets.com is the best pick for trading signals in MetaTrader 4. Established in 2008, Markets.com is a subsidiary of Playtech, a Fintech company listed on the London Stock Exchange. The www.markets.com domain is operated by Safecap Investments Limited, an entity regulated in Europe by Cyprus-based CySEC and in South Africa by the FSCA.

The social trading feature along with the trading signals is powered through MQL5 signal service.

Markets.com combines the MetaTrader signals with the following advantages:

• Exclusive trading tools (technical, fundamental and sentiment analysis indicators)
• Access 8,000 instruments on Markets.com’s proprietary trading platform and 2,200 instruments on MT4
• Negative balance protection
• EUR/USD average spread of 0.6 pips and 0.4 points on Index CFDs

MT4 Trading Signals

When it comes to social trading options, retail clients may find MT4’s trading signals tool quite appealing, as it enables them to copy the trades of other users in real-time directly into their Markets.com live trading account without leaving the platform. With Markets.com, traders can test copy trading with MT4 signal service also on a free demo account.

Clients can access a list of signal providers in the “Signals” tab of the MT4 terminal window, select a provider, subscribe to his/her trading signals and begin copy trading. Signal providers can be selected based on their trading history, the number of subscribers, growth percentage, funds under management or maximum drawdown.

Additionally, the variety of Forex and CFD products available (over 2,200 tradable instruments) coupled with a full suite of technical indicators, opens the door to countless trading systems that could be copied.

Yet, retail clients should bear in mind that the trading signals service cannot be considered as investment advice and they may act on signals at their own risk.

Final Words –Best Forex Brokers for Social Copy Trading

Markets.com’s MetaTrader 4 offers both speed and reliability when it comes to trade execution (over 79% of client orders received positive or zero slippage – 2020 YTD statistics), it could be considered as an appropriate choice for almost any trading style – from scalping and day trading to swing trading copy trades. Additionally, traders can opt for Markets.com proprietary Signals tool that covers over 8,000 assets.

View Markest.com Review >>Visit Markets.com >>

FP Markets – Best For Social Trading with MyFxBook AutoTrade

FP Markets was hand-picked as the best MyFxBook broker. FP Markets is one of the reputable CFD and Forex brokers under ASIC regulation with 15 years of business history and over 40 International Awards. The brokerage is also regulated in Europe by Cyprus-based CySEC.

FP Markets combines the automated social trade copying service MyFxBook AutoTrade with:

• Trade + 60 major, minor and exotic FX pairs
• Tier-one liquidity providers
• 84% of the time the EUR/USD spread is 0.0 pips (according to price data from 01-08-2020 to 31-08-2020) – Raw Account only
• Over 10,000 CFD instruments across shares, indices commodities and cryptocurrencies
• Trading with no restrictions allowing scalping and high-frequency EAs

Interbank Spreads and ECN Execution

FP Markets’ true ECN model and raw pricing make it the most appropriate choice for social trading with MyFXBook AutoTrade. Since the broker uses a vast pool of liquidity providers, it is able to offer spreads on major currency pairs that start from 0.0 pips on its Raw ECN Account. What is more, the average spread offered on EUR/USD remains 0.1 pips.

Spreads are kept ultra-tight on other tradable assets as well (see table below).

In addition to raw pricing, the broker’s Equinix servers ensure low latency and trade order execution speeds of less than 40 ms. In other words, perfect conditions for short-term trading systems – day trading and scalping copy trades.

With FP Markets clients can also save on commissions since the broker will charge only $3.0 per 1 Standard Lot traded per side.

Final Words – Best Myfxbook Forex Brokers

With AutoTrade, provided by Myfxbook.com, clients can copy a vast selection of trading systems directly into their FP Markets MT4 account. They simply need to connect their live trading account on FP Markets MT4 platform to MyFXBook tool to begin looking for a suitable trading system to copy. The mirror trading service is fully automated, meaning the analytical tool will copy trades to clients’ account automatically. Clients do not have to rent a VPS of their own, since everything they need will be provided.

Fusion Markets – Good Broker that offers DupliTrade

Fusion Markets was selected as the best forex broker compatible with DupliTrade. DupliTrade is a popular automated trading software that focuses entirely on copy trading features and discounts the social aspect.

Founded in 2017, Fusion Markets is a trading name of Gleneagle Asset Management Limited, an entity based in Melbourne and regulated by the Australian Securities and Investments Commission (ASIC).

Fusion Markets combines the leading copy trading solution powered by DupliTrade with:

• The lowest commissions on your trade $2.25 per standard lot ($4.5 round-turn commission)
• Proprietary trading tools (Analyst Views, Technical Insights and Market Buzz)
• 2 trading account types suitable for different trading styles
• Industry-standard platform MetaTrader 4 (desktop, Webtrader and mobile apps)

Trading Forex with DupliTrade’s Copy Trading Platform

Fusion Markets allows its clients to access DupliTrade’s easy-to-navigate copy trading platform, with which they can replicate the trading activity of successful traders into their Fusion Markets MetaTrader 4 trading account.

We should note that DupliTrade hand-picks and recommends only traders with a proven track record and considerable trading experience.

Another advantage is that the platform allows clients to automate their trading with ease on their account with Fusion Markets by using trading signals from selected successful traders. DupliTrade’s copy trading platform has strict selection criteria and, as a result, clients are able to choose from a limited selection of proven trading strategies.

Last but not least, the platform’s user-friendly interface allows traders to select, make changes to, or remove strategies without effort.

How to Sign-Up with DupliTrade

Signing up with DupliTrade is a rather straightforward process:

• First, traders need to open an account with DupliTrade after accepting its terms, conditions and fees
• Second, they need to register an account with Fusion Markets
• Third, they need to link their DupliTrade and Fusion Markets accounts
• Fourth, clients need to select a trading system and risk parameters that best suit their preferences
• Fifth, clients can monitor their DupliTrade account in real-time through their Fusion Markets MetaTrader account

Final Words – Best Copy Trading Forex Brokers

All in all, Fusion Markets offers a trading environment that is conducive to automated copy trading. Trading costs are low, the trading software infrastructure is solid, and the broker follows strict regulatory guidelines. Similar to other Forex brokers, Fusion Markets allows clients to get a taste of copy trading on a free demo account before they start trading with real money.

View Fusion Markets Review >>Visit Fusion Markets >>

AvaTrade – Has MetaTrader 5 with MQL5 Signals Integrated

AvaTrade was selected for providing the best trading conditions for social trading in MetaTrader 5 – MQL5 signals. AvaTrade is among the top CFD and Forex brokers globally, as it is regulated on five continents and has offices in nine countries. The brokerage is fully compliant with regulatory standards of some of the most reputable regulatory agencies.

AvaTrade combines the social trading feature on the MetaTrader 5 with:

• +1,000 tradable instruments across 8 different asset classes
• AvaProtect a revolutionary risk management tool
• Competitive trading costs – spreads starting from 0.9 pips
• MetaTrader 5 compatible with multiple devices, including desktop, tablet, mobile and Webtrader

Free Access to MQL5 Signals

MQL5 is fully integrated with MT4 and MT5, thus allowing AvaTrade clients to subscribe to trading signals from a plethora of providers without leaving their trading platform.

MQL5 brings a number of benefits to traders, such as no hidden fees or commissions, no minimum deposit requirement and a faster signal execution due to its global cloud infrastructure.

Additionally, since AvaTrade has no restrictions on scalping or short selling and offers competitive spreads across its list of Forex and CFD products, clients can choose from a multitude of trading systems and styles, which to copy.

More Social Trading Platforms

Besides the MQL5 Signals Service, integrated with the broker’s MetaTrader 5 software, with AvaTrade, clients can take advantage of three additional social trading platforms for mirror trading:

• DupliTrade
• ZuluTrade
• AvaSocial – an innovative social trading app, offered by AvaTrade in partnership with Pelican Trading (a provider regulated by the FCA)

Final Words – Best MetaTrader 5 Social Trading Broker

Since AvaTrade’s signal providers actually include hedge funds, expert brokers or money managers, clients have the opportunity to access and benefit from the knowledge of professionals that know how trading works. Access to some of the best signal providers coupled with AvaTrade’s impeccable global reputation (strong regulation and multiple international awards) can only give clients the comfort to copy trade with a reliable brokerage.

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