Social trading is the latest innovation in online Forex and CFD investment. It involves the creation of a community where traders can share their successes or best practices.
An important element of social trading is copy trading, where investors can follow the strategy of successful traders and copy their open positions. Social trading is especially popular because it is completely anonymous, as in you do not have to disclose any personal information or give access to your own trading account.
Why choose social trading?
Perhaps the biggest advantage of social trading is the fact it is open to people of all skill level. It not only allows inexperienced traders the opportunity to benefit from the knowledge of others, but also gives successful traders a chance to impart wisdom and potentially receive a reward for doing so.
Social trading also creates space for live discussion, where investors can share real-time thoughts and opinions on the markets. In addition, it gives traders another way to diversify their portfolio and hedge risk.
Social trading with TradeFred
TradeFred provides our clients with the chance to experience manual social and copy trading for themselves. However, as a licensed and compliant broker, we will never let our quest for innovation come at the expense of our traders.
We clearly display important information about each investor, so you can decide whether they fit your trading style. This includes their risk level, success rate and average daily profit/loss percentage. As such, you will be able to instantly determine whether the trader is the right person to complement your strategy.
You will be able to view a trader’s open and closed positions, alongside their profit/loss statistics for each trade. In addition, we display the number of people who have copied each order, so you can factor that into your own investment decision. The platform also displays an insight into how many people are following each trader, plus who they are following themselves – so you can expand your network even further.
If you would like to know more about our social trading platform, please contact our team.