There once was a time when trading the financial markets was the preserve of the big financial institutions and professional traders. However, the advent and the subsequent advancement of the internet brought trading to the masses. Nowadays, anyone with a phone and an internet connection can log onto any one of thousands of assorted trading platforms and profit from the financial markets, trading anything from cotton to cryptocurrencies and everything in between.
Over $3.6 trillion is traded every single day in the foreign exchange markets, mostly by the big banks, but also by a growing number of armchair traders. Those men and women who like to ‘dabble’ in the markets are growing on a daily basis. Despite some very high profile binary options and forex fraud cases over the years, the public’s appetite for trading has not waned at all. In fact, trading amongst the masses has never been so popular. From broker-less platforms such as Spectre.ai to social trading, more people than ever before are trading the financial markets.
Social Trading Rises
Social trading is a term which loosely describes a way of trading that allows investors to replicate the operations of other traders. It is THE fastest growing method of trading at present and instead of sharing selfies of your lunch or vacation, social traders share trades. There are a wealth of social trading platforms to choose from. A quick look at the Top 5 Social Trading Platforms will tell you there is a plenty of choice.
The largest social trading network in the world is eToro. It is worth checking out an eToro Review as when it comes to social trading, them and zulutrade enjoy most of the market share. A big development for eToro was gaining a license in the United States of America, a notoriously difficult market for trading platforms to gain licenses for. By being able to copy other peoples trades and trading strategies, social trading appeals to the more novice trader. Social trading acts as a kind of safety net for newer traders, having someone there to copy and virtually hold your hand offers massive appeal. The Israeli-based eToro currently boasts around 200,000 active users in just about every country, offering the opportunity to trade a massive number of securities, including stocks, forex, commodities and cryptocurrencies. Zulutrade boasts around 100,000 active users, having launched in 2007 in Greece by Leon Yohai.
First through Facebook and Twitter and then through Whatsapp groups, Social trading is now huge on Telegram. The future of trading is here and that future is social trading.
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