Forex $ocial Traders
 

           

Top Forex Social Trading and Investment Networks

Top 8 Forex Social Trading Networks

Forex social investment networks are a very fast emerging trend in the world of currency trading. They allow investors and members to see what other social traders are doing, in order to gain a wider market knowledge and forex trading strategies. In most cases they allow you to copy or auto copy the trades of successful experts in exchange for a small commission.

This is possible because the retail Forex market is so small compared to the large inter-bank market. So the activities of individual retail traders have no effect on prices of currency pairs.

The biggest advantage of forex social networks is that more people turn a profit when compared to individual forex traders.Here are nine of the top social investment forex sites.

eToro

This 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 and indices. 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.

 


Zulutrade

Same as with eToro, Zulutrade is one of the biggest forex social investment networks. You can test it on demo account or open a live account and connect it to one of forex brokers offered by Zulu. There are thousands of signal providers to follow and copy. Top of them have easily 10 thousands of followers with millions of dollars on their accounts.


Currensee

This social platform was launched in 2009. Currensee was one of the first forex social investment networks. They are popular but their membership is restricted. It allows their users to connect only real trading accounts, no demos. Main reason is to keep only quality signal providers. Your account can be connected to over 100 brokers. Curensee also offers a premium service where those who deposit several thousands dollars can copy elite Trade Leaders.


MyFXBook

MyFXBook is another very popular FX social network. It is a huge community of forex traders. You can track deep statistics of other traders and you do not even have to register. Recently they launched their own autocopy system. However there are not so many traders to choose from.

Forex Factory

For many years, Forex Factory was the most active FX forum on the web. Recently, this site has been overhauled and offered many features of a classical Forex social network. For example: market sentiment socialisation, trading performance tracking and in depth analysis.

MeetPips

This social media is a spinoff of the Forex educational website BabyPips.com. It offers some unique features like the ability to see a combined trading journal, trading plan, and trading stats for each member. However, trading statistics are poor compared to other sites and low member base does not provide much activity there.

FXSTAT

This website is similar to MyFXBook, but has a slicker design and more intuitive user interface. However, in the size of the community it falls behind its competitor. But you are able to follow and autocopy trades of other members for a commission.

IBFX Connect

This social trading network was set up by US trading software provider Interbank FX, and is also very similar to MyFXBook and FXSTAT. They offer free membership, and you can link to a wide variety of different Forex brokers. In terms of activity, this is not the busiest site on our list , but its design and intuitive interface make it ideal for those who are new to the world of forex social networking.

Warning: Trading carries risk. Only risk capital you are prepared to lose. Past performance in not an indication of future results.