Social trading gains many followers, especially in recent years. With the increased interest in social trading, there has been an increase in these types of platforms. The two giants in this field are eTorro and ZuluTrade. These two social trading networks will always rank our number one spot.
However, in this article, I have decided to share with you three other great alternatives. So, let’s take a look at some of the most significant advantages of the five top social trading networks this year.
Naga Trader | Former SwipeStox
NagaTrader is a leading Social Trading network. The company was initially born as SwipeStox – an application for Smartphones. After the profound expansion and rebranding plan, SwipeStox became Naga Trader. Nowadays, the company offers many services in the following fields:
- Social Networking
- Social Trading
- Copy Trading
- Retail Trading
Naga Trader even offers different innovative investment services, such as the NAGA GYBO and NAGA Portfolios. Moreover, the NAGA group has its own crypto coin – Naga Coin (NGC). Using it as a base currency of your account gives you numerous economic advantages and even lower commissions.
Regulations: NAGA Markets Ltd regulated & authorized by CySEC (204/13)
Minimum Deposit: € 500
Platforms: MT4, web platform, iOS, and Android mobile apps
Headquarters: NAGA Markets Ltd is headquartered in Limassol, Cyprus
Other instruments: CFDs on stocks, ETFs, indices, commodities, futures, cryptocurrency, gaming items
Brokers to operate: Naga Markets, registered with CySEC (Cyprus Securities and Exchange Commission), and MiFID compliant
With Naga Trader, you can buy or sell cryptocurrencies, currencies, stocks, indices, ETF, commodities, futures indices, and even game virtual objects. Moreover, the platform offers users the option to follow other traders. By doing so, users can observe their trades. They can also manually copy their trades with merely one click.
Further, Naga Trade can automatically and proportionally replicate trades of other traders. However, you first have to choose the trades on your account. Not only Copy trading is available with Naga Trade, but they do offer Social trading as well. Traders can share information on trades and investments with the entire community. By doing so, they can make better choices.
Moreover, with Naga Trader, users can invest with CYBO. CYBO is a Robo Advisor managed by an Artificial Intelligence that can make investments in your place according to your preferences. It can analyze market conditions and exploit the intelligence of the crowd network.
Further, Naga Trader lets users invest with NAGA Portfolios, which is a new innovative automated investment product.
With Naga Trader, you can trade on:
- Forex Currencies
- Metals and Commodities
- USA, UK, DE, NL, ES, FR, CHF Stocks
- Future Index
- Commodity Futures
- In-game virtual objects
Advantages and Disadvantages of Naga Trader
- Easy-to-use App and Web platforms
- User-friendly Interface
- Many Trading Instruments
- Unique Social Trading Service
- Demo and real users are separated
- Large and active community
- CYBO technology and Portfolio
- Bonuses with NGC base currency
- Some options and features can be a bit confusing
- The web trading platform might be too simple
Tradeo takes second place in this category as the best forex broker, social trading platform, and brokerage. It is highly developed and full of social aspects online trading platform.
With Tradeo, users can directly see on the chart the orders and the signals of other traders. Also, users can operate personally with this trading platform. However, for those who prefer to copy the trades of their favorite trader, Tradeo offers Copy Trading. By doing so, traders can replicate the trades.
Further, Tradeo offers a demo account. Moreover, users don’t have to worry about time limits, and they can try different strategies with the demo account.
Regulations: UR TRADE FIX Ltd supervised & regulated by CySEC (282/15)
Delwyn trading Ltd supervised & regulated by the IFSC (IFSC/60/284/TS/17).
Minimum Deposit: $ 250
Platforms: MT4, web platform, mobile
Headquarters: UR TRADE FIX Ltd is headquartered in Limassol, Cyprus
Other instruments: CFDs on commodities, metals, stocks, oil, gold, indices, cryptocurrency
US Customers: No
Currently, Tradeo offers two types of trading – Social Trading and Automatic Copy Trading. Moreover, this platform provides full access to two other companies – Social Web Trader and MetaTrader 4. This option is something other major social trading platforms cannot offer.
Further, Tradeo charges no fees on deposits. Also, users can withdraw funds from their accounts. There is also no minimum withdrawal amount. The platform offers many social trading features, such as:
News Feed – Live news events from the most reputable sources
Trading Feed – Live trades from other users within the community
Social Feed – Trade messages and signal
Chat Screen – Private messaging with other community members
Copy Signals – Signal from your favorite traders
Advantages and Disadvantages of Tradeo
- Fast and efficient trading
- Advanced Social Trading features
- Automatic Copy Trading option
- Virtual trading account with no expiration time
- Compatibility with MT4
- Access to the most advanced tools in the marketplace
- Wide range of markets and trading instruments
- A highly comprehensive training academy
- Fee-free deposits
- Basic money management options for Copy Trading
- Relatively high withdrawal fees
- Only one account type to choose from
Darwinex is a reasonably new company in the Social Trading sphere. Juan and Javier Colón Bolea, and Miguel Angel Gonzalez are the founders of this trading platform. The difference between Darwinex and all other social trading platform is significant.
Darwinex hides the strategies of its traders. They call it Darwin. However, traders can buy these strategies and include them in their portfolios. Meaning, the traders’ plans are a real asset.
Unsurprisingly, the more profitable the traders’ strategy is, the higher the value of the asset. Moreover, Darwinex monitors all Darwins. Also, all investors have access to various risk control tools.
Regulations: Tradeslide Trading Tech Limited authorized & regulated by the FCA (586466)
Minimum Deposit: € 500 or $ 500
Platforms: MT4, MT5 – available for Mac, Windows, Linux, iOs, and Android
Headquarters: Tradeslide Trading Tech Limited is headquartered in London, UK
Other instruments: CFDs on stock, commodities, indices, cryptocurrency
US Customers: No
If investors want to use the Copy Trading Investing service, they need to pay two types of fees. The first one is a % on the trading volume – Trading Fee. The second one is calculated quarterly, equal to 20% of the profits made, net of trading fees – Success Fee.
Advantages and Disadvantages of Darwinex
- Low spreads
- Traders only compensated for success
- Automatically limited risk
- Free demo account
- Comprehensive guides
- FSCS (UK) capital protection
- Open traders are not shared
- Divergence/slippage can be significant
- Not free
After reading the information about the three best social trading platforms in 2019, you know where you can start to social. Moreover, you can increase your chance of success by using one of these platforms. However, we would advise you to in-depth research on each platform.