Forex $ocial Traders
 

           

#1 eToro Alternative Competitor

etoro alternative competitoreToro is probably one of the biggest and most popular social networks. eToro OpenBook has 1.75m traders and more than 200,000 live accounts. Traders can trade not only currencies, but also commodities, some stocks, indices or ETFs. Unlike other social networks, here you can become a social trading guru even if you do not have any trading skills. You can simply copy other traders, create your own portfolio and offer that to other copiers.

eToro is very popular, but if (for whatever reasons) you are looking for other similar companies, Zulutrade is in my opinion #1 eToro´s competitor. These two biggest forex social investing networks has been rivals since beginning, which is great for us because this competition has lead to huge improvements on both sides.

The fact that you are in search for eToro´s rivals and competitors means you know eToro well. So let´s focus on other side and allow me to introduce Zulutrade little bit.

Zulutrade: #1 eToro Alternative Competitor

 

Zulutrade is one of the first and also biggest forex social investment networks.  There are thousands of signal providers to follow and copy. Top of them have thousands of followers with millions of dollars on their accounts.

If you compare eToro and Zulutrade, there are two major differences.

Zulutrade doesn´t act as a broker.
To copy signal providers on Zulutrade you simply choose one of forex brokers who are linked to Zulutrade and open your trading account there. So your money are not on Zulutrade. On one side this is good because you can choose your favourite forex broker, but on the other side you need to choose your forex broker carefully because some of them have bigger slippage than others. (More on this in our Zulutrade Follower Academy)

Demo account Signal Providers.
This is probably one of biggest disadvantages of Zulutrade. There are signal providers who send their trading signals from demo accounts. That allows them to employ more risky trading strategies. On the other side, potential profits are huge. So if you are more of gambling nature, choose those signal providers. If not, look for real money traders.
Of course, you can also find reliable and low risk traders among these demo signal providers.

My advice: always analyze trading style of any signal provider before you choose to copy him with real money.
Good idea is to test copying them on demo account first.

So this was a short introduction of eToro´s alternative and #1 competitor. If you search our website you can find many articles about Zulutrade so you can learn more, or simply visit their website.

 

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