What is Social Trading?
Introduction: Social trading can be defined as “imitation of the trade strategies of successful senior traders or investors by un-experienced private investors”. Social trading has become very popular among new traders for several reasons, for example, investors can invest their money safely and can get a reasonable profit without doing much efforts regarding administration. Social […]
Social trading can be defined as “imitation of the trade strategies of successful senior traders or investors by un-experienced private investors”. Social trading has become very popular among new traders for several reasons, for example, investors can invest their money safely and can get a reasonable profit without doing much efforts regarding administration. Social trading is actually carried out through an online platform that helps you in your business by making a connection between the investor and other party. This platform also provides you all the details regarding your particular investments, current trends in online business and also provides you all necessary links for the progress of your trade and also, you can see the strategies of successful investors to get the guidelines for your investment. Thus you can earn a considerable profit from your online business along with many trading facilities by https://www.trusted-broker-reviews.com/social-trading/.
Advantages and importance of Social Trading:
Online trading is superior over bank products in many ways. Some important features of social trading are following:
- All process and system is automatic
- You can manage your risks by yourself
- Trading strategies can be learned from successful traders
- Very low amount of interest is deducted
- You can earn profit according to your investment
- Physical meeting or direct interaction is not needed
- A business can be started with a small amount and then can be promoted to a bigger level
- Facilities like stocks, funds, CFDs and trade Forex are also available.
Disadvantages or drawbacks of social trading:
- You need a lot of knowledge about the techniques of online trading.
- You can only become a successful investor if you get some experience and know-how and go through all pros and cons of social trading before starting a proper business and deals.
- If you start social trading without getting complete knowledge, you can’t get profit thus time and money would be wasted.
- In online and automated systems of trade, you have to be very careful in entering your bank account details or investments etc. Even a little mistake can subject you to loss.
Platform for social trading:
You have to find proper working platform for doing a successful social trade. Today, many trading platforms have been established on internet, but they all are not suitable for long term and profitable business. These platforms have issues in the financial regulation, response to your deals, providing a suitable link to the investor and authentication.
“Trusted-broker-reviews” is a website that provides you best and authentic information regarding the essential terms and best platforms learn social trading. “etoro” is the biggest platform for social trading and is the best social trading platform due to a great experience and secure business deals. etoro is authentic and secure. It is licensed by the most trusted authorities e.g. CySEC, ASIC and FCA.
It is beneficial for the investors due to following reasons:
- Your funds are secure and can be transferred by different paying methods safely.
- You can get basic know-how about social trading with the help of free demo account on etoro.
- You can get support in different languages regarding professional techniques.
- Crypto, commodities, stocks and CFDs are available.
- You can start your work by depositing minimum 200$
- You can see the portfolio of the previous investors.