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Social Trading Meaning
Investing in markets such as forex, stocks, bitcoin requires good amount of knowledge. In addition, you need to be in trend with news events affecting the financial world, and also have the capability of reading charts, analytics reports and understand many things.
Most of us lack this understanding or we don't have, chances are you may lose your money in the market. It’s unfortunate that many people continue to lose their hard earned money in the markets simply because they have little knowledge of how to and when to invest. Social trading comes as a savior in this situation.
As an investor or less experienced trader, in social trading your financial trading decisions are based on other skilled investors generated financial content collected from various reliable platforms. In simple words, once you spot a successful trader and you like their trading strategy, you can start following them and copy their trades.
Founded in 2007 and based in Cyprus, eToro's narrow focus on social and copy trading has underpinned rapid growth that now boasts more than 10,000,000 clients worldwide. The key feature of this unique proprietary platform is the ease in which an individual client is able to implement copy trading. The eToro platform features many traders who want to be copied and who follow risk-control rules. This accessibility then allows retail account holders to copy the trades and trading strategies of the most successful clients, automatically and in real-time. While others have a similar capability, none have integrated it with social media communication quite as well as eToro has.
Benefits of eToro Social Trading platform
. Copy Trading
The idea of copy trading is simple: use technology to copy the real-time trades of other live investors/ traders who are experienced and are already making good money. This way, every time they trade, you can automatically replicate (copy) their trades and make money.
· Quick access to reliable trading information
One of the prime benefit of Social Trading platforms is it cut down on the process of searching for reliable trading information by providing extensive information from professional traders across the world. You also get to interact with the skilled traders on the platforms.
· Quick grasping of the trading market
Social Trading platforms reduce the time and cost of becoming a professional investor by allowing you to learn from seasoned investors, quickly and efficiently.
· Earning while still learning
Benefit of Social Trading platform allow you to learn from experienced investors, where you get to know how to navigate the trading market and still earn some money by copying their trades. Therefore you don’t have to wait until you have all the required knowledge for you to start earning.
· Build a trading community of investors
eToro Social trading platform build a community of investors, where you get to interact with other investors and share information, while also collaborating on different ventures. It being an online platform, you can access trading information from anywhere in the world quickly and easily as long as you have the internet.