We found 11 online brokers that are appropriate for Trading Social Forex Brokers.
There is no doubt that social media platforms are becoming stronger yearly. Compared to past years, they have gained more popularity. A website like Facebook has more than 2 billion users worldwide. YouTube has been reported to have over 1billion users monthly. A popular platform like Instagram has more than 1billion visitors monthly.
The truth is that social media platforms are supposed to be places where Forex traders exchange genuine ideas. There should be ways to have the privilege of getting access to Forex news, analysis and other important details about the market. However, the opposite has been the case, as many traders have been scammed on social media platforms.
In the past, numerous Forex traders have been victims of fraudsters on social media platforms that claim to be Forex experts or gurus. They convince these people into letting their hard-earned money go only to find out that they have been scammed. This trick has deceived many traders. It is a fact that these scammers are gaining ground. In other words, they are now more advanced and sophisticated than before. For instance, you have fake Forex brokers advertising their businesses on social media platforms like YouTube and Facebook.
They try to make you believe they have a website or brokerage platform where trading activities can occur. In the end, you fund your account only to discover they do not exist. There are cases whereby they are not even registered or licensed to operate. No one cares to know about the legal status of these scammers. Even social media websites do not care. They do not have to either because their revenues are generated from paid ads.
It is, therefore, your duty as a Forex trader to watch out for these online scammers and fraudsters parading themselves as genuine companies. The first thing you need to know is that there are various ways that Forex traders are usually taken advantage of on social media platforms. The first is selling fake trading bots after claiming that they can help traders make lots of money from their Forex trading activities. Many trading bots are advertised if you go to a website like Facebook. Some even claimed to have been used by real people in the past with tangible results. These are all lies to make you pull out your credit card most of the time.
The second method is what has been explained above. They claim to be established brokers to help clients place buy and sell orders. Once you sign up on their websites and input your credit card details, your account will be compromised. In other words, your account will be hacked. These companies have a way of advertising their activities on social media to gain more awareness.
The last method they use is training and courses about Forex trading. These are of very low quality as they cannot add any value to your life as a trader in the market. Some of the details you will find in these courses can be obtained from Google free of charge.
As said above, Forex scams seem to be gaining momentum. It is why you need to devise several ways of being on guard. At least to ensure you do not get ripped off. If you ever stumble upon any ad on social media that promises overly attractive rewards or benefits, it is recommended to do proper research.
Dig deep into their history and past performances to find more information. Find people who must have used such a bot before to know whether it worked for them. In reality, there is no shortcut to making profits in Forex. It is a combination of hard work, dedication and perseverance.
You have seen how social media is negatively affecting the mindset of most Forex traders. Many of them believe that finding the right courses is hard. It is due to the bad experiences they have had in the past.
We have conducted extensive research and analysis on over multiple data points on Forex Social Media to present you with a comprehensive guide that can help you find the most suitable Forex Social Media. Below we shortlist what we think are the best Social Forex Brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Forex Social Media.
Selecting a reliable and reputable online Social Forex Brokers trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Social Forex Brokers more confidently.
Selecting the right online Social Forex Brokers trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Social Forex Brokers trading, it's essential to compare the different options available to you. Our Social Forex Brokers brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Social Forex Brokers broker that best suits your needs and preferences for Social Forex Brokers. Our Social Forex Brokers broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Social Forex Brokers.
Compare Social Forex Brokers brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Social Forex Brokers broker, it's crucial to compare several factors to choose the right one for your Social Forex Brokers needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Social Forex Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Social Forex Brokers that accept Social Forex Brokers clients.
Broker | IC Markets | Roboforex | eToro | XTB | XM | Pepperstone | AvaTrade | FP Markets | NordFX | EasyMarkets | SpreadEx |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 10 | 100 | No minimum deposit | 5 | 200 | 100 | 100 | 1 | 100 | 1 |
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Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 10,000+ | 142,500+ | 10,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with icmarkets |
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Up with roboforex |
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Up with etoro |
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Up with xtb |
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Up with xm |
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Up with pepperstone |
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Up with avatrade |
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Up with fpmarkets |
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Up with nordfx |
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Up with easymarkets |
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Up with spreadex |
Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 75-95 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
NordFX Demo |
easyMarkets Demo |
SpreadEx Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA, EU, RU, SY, KP, CU | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR |
You can compare Social Forex Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Social Forex Brokers for 2024 article further below. You can see it now by clicking here
We have listed top Social Forex Brokers below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.