Social trading is the evolution of online trading, offering the most fascinating and rewarding way for investors to get access to the financial markets. By connecting traders from all over the globe into one unique network, social trading enables people to harness the collective potential of a diverse community of experts to maximise their profit.
Why has social trading dominated the Forex world? Let’s look at the fundamentals of it to understand why social trading can easily fast-track your success in financial markets.
How does social trading work?
This revolutionary approach has gained so much popularity over the years, as it gave everyday people the possibility to capitalise on the moneymaking wisdom of the world’s best Forex traders and profit. Through the use of groundbreaking, yet easy to use technology, investors can easily connect with proficient traders and start making money right away. The way to reach this incremental revenue source is really easy:
All you have to do is register as an Investor and get instant access to a wide pool of professional traders to build your “people-based” portfolio. To craft a dynamic portfolio, you need to review their trading strategy, how profitable they are, what risk management they apply and assess if their overall trading features can make you money. Keep in mind, that the list of traders is always carefully structured, so they conform to strict criteria to ensure their sustainable profitability.
After selecting the best-performing traders, you connect your account to them. By connecting to a trader, you invest a part of your portfolio on that individual. The amount invested represents a percentage of the total amount of the trader’s portfolio. This means that if a trader’s account is, for example, 2000 euro and you invest 200 euro, then for every position he opens, you will invest 10% of what he invests and the resulting profits and losses will be calculated in accordance.
Now comes the fun part of the process: copying. By the touch of a button, you automatically copy all of their current and future trades in real time. Thus, if the selected trader opens a new trade, you open a new trade and if he closes, so do you and that will continue until you decide that you do not wish to follow him anymore. This, however, does not mean that you do not have any control over your account. Once you have established a copy trading relationship, you can still close trades, open new ones, use take profit and stop loss orders to control the risk of your trading activity.
Although social trading gives newbies easy access to the markets, it is a tool that any investor can capitalise on, regardless of years of experience or competency. Seasoned traders join social network communities to get access to an additional revenue stream, by sharing their trades on the network, so others can copy them. So, if you are a trader with a proven track record in Forex, you can:
Become a Master trader and share your knowledge and skills with other investors. Your Master profile will be listed online with the details of your trading activity updated daily, so you can easily attract investors to connect with you. As an experienced trader, you know that knowledge is power in financial markets. Thus, by opting to share your trading activity along with the skills you gained throughout the years, you give beginners the valuable ability to observe your trading strategy, so they can learn from you.
The reward for letting others copy you is receiving commission for every successful trade they copy. The better you trade, the more investors will copy you and the greater the commission you stand to gain. All you have to do, is simply specify the amount of the commission fee you would like to receive upon registration and do nothing more than what you normally do. Accumulated commission fees will be automatically credited to your account on a weekly basis.
Benefits of social trading
Whatever the level of experience and whatever they style of investment, social trading can offer the tools to take your trading to the next level. Tap into the power of social trading networks and multiply your earnings.
- Learn how to manage the complexities associated with trading technicalities and enter the Forex market smoothly and confidently, by doing nothing more than monitoring the performance of the chosen traders.
- Get insight of the winning trading strategies of the most successful experts and understand what made them take the course of action they did, so you can directly learn from them with the most efficient manner.
- Maintain full control over your copy trading account, while taking advantage of professional traders’ thinking and background research with complete transparency and efficiency.
- Enjoy utmost flexibility, as trades are executed automatically into your account, without needing to be present.
- Open a copy trading account and use it in combination with your live account, to get an additional venture to supplement your earnings automatically, without having to intervene.
- Diversify your trading portfolio, by copying professionals trading other financial instruments and take advantage of the investment potential that these instruments offer.
- See how other great traders like you trade to enhance your trading strategy and spot more profitable opportunities as they appear through them.
- Build a great source of additional income by sharing trades with other people, get recognised for your skills and expertise, and earn even more with every successful trade made.