What is social trading?
Social trading is a method where an online investor may lean on user-found financial content gathered from different internet sites as their main source of information for making strategies and financial choices. This allows investors to analyse financial data by comparing and copying trades and techniques, amongst other things.
Where have you heard about social trading?
Social trading networks are seen as subcategories of online social networks. With the use of social trading, traders and investors can combine their own decision making methods with those of other social traders, allowing them a more in-depth analysis of the investment decision process.
What you need to know about social trading.
Social trading allows trading online but with the help and input of others, which many believe shortens the time it takes for a beginner to become an experienced forex trader. This is because you can interact with others, view and analyse other people’s trades and see certain habits of top performers. Traders are also able to copy trades, allowing them to see which methods and strategies succeed and which fail. This way of trading has seen more people participate in the market and has led to more trades going through.
Find out more about social trading.
If you are interested in social trading, read our page on technical analysis.