Forex Social Trading for 2021

We found 11 online brokers that are appropriate for Trading Social Forex Investment Platforms.

Forex Social Trading Guide

Updated May 11, 2021

Forex Social Trading

What is Forex Social Trading?

Social trading in the Forex market refers to a social platform that supports communication among working Forex traders in real-time. It is advantageous in allowing traders to exchange knowledge, and permits traders to copy and compare their methods, schemes, and trades with other traders.

In Forex social trading, the investment is executed mainly by copying and mirroring trades of successful and experienced traders. It sounds easy, but there is a lot to understand about Forex social trading before blindly copying the activities of others.

With the aid of one of the best social trading platforms available nowadays, novice traders can easily copy skilled traders. At the same time, those who are more experienced can improve their trading skills by choosing and subscribing to a Forex social trading platform that can be found in the market.

Social trading in the Forex market allows traders to learn trading tips from experienced traders and experts. It is the perfect way to understand the ins and outs of the Forex market.

Social trading in Forex has been present for several years. Still, it has grown in popularity because of Forex traders tend to rely on the experience and knowledge of more advanced investors. Furthermore, staying connected on the social platform is beneficial for the traders.

Most Forex traders use social trading platforms as a way to copy trades. However, traders should go beyond just copying trades in real-time. It helps traders learn new Forex trading strategies to learn trading tips and tricks from successful and experienced traders. A social trading platform can also help in improving the chance of winning and to execute better trades.

Before the advent of social trading, investors had to depend on technical or basic analysis to form their investment opinions. Through Forex social trading platforms, traders and investors can form their investment opinions with the help of social indicators from the trading data-feeds of other traders.

Forex Social Trading Explained

A Forex social trading platform refers to an online community where investors and traders meet and interact with each other. Social trading networks help traders to connect with each other and learn new trading strategies. The platforms allow the sharing of new ideas, tips and tricks with other members.

The social trading platforms also help Forex traders to educate themselves and copy the trades of other members directly into their own accounts.

How Forex Social Trading Works

Social trading is easy to pick up. The first thing that should be done is to select a reputable and reliable platform. It is important to note that the selected platform should allow copy trading from other members and has forums to facilitate the sharing of trading ideas. Once traders find a successful trader they want to emulate, they can select the profitable strategies and copy these.

Let us understand this concept with an example. Suppose a trader opened a EUR/USD trade. His trade is replicated automatically in the account of another trader. However, trader should not expect to have same account balance as experienced trader.

The best platform helps in scaling the bids of traders so that the budget will not be exceeded. Moreover, it should offer the copy trade feature based on the risk tolerance of a trader. Proportionate trades can also be opened based on the account balance.

Suppose a trader opens a trade of $10,000 and the account balance is less than half of the traded amount. This means the account is worth $5,000. Now, if the profit is $1,000, the trader will gain profits of $500 based on the proportion.

Passive Income

One of the benefits of Forex social trading is being able to earn passive income. Most traders can start earning before gaining the required experience.

Reliable Trading News Access

Forex social trading platforms also help in accessing reliable trading news and information. A small event can have a great impact on the trades which makes keeping track of these news regularly extremely important.

Twitter is one of the best platforms to keep a track of all the breaking news and information. It is highly versatile and users can comfortably discuss favourite currency pair and trading stocks. Therefore, it is a great networking platform and a perfect place to learn from seasoned traders.

Picking The Best Forex Social Trading Platforms

The best Forex social trading platforms permit traders to follow the trading patterns of other traders and to interact with them. Traders can be informed on the effectiveness of strategies by duplicating trades. Several of the best Forex social trading platforms consist of auto-trading, often known as copy trading. Through copy trading, investors can mirror or automatically duplicate the trades from other traders present on the platform in their trading account.

Forex social trading brokers exhibit a real-time ranking of other traders' achievements and activities directly on their websites to improve their rate of success. A few Forex social trading platforms, like the Sirix Social Network, permit traders to choose to follow a certain expert trader who has many other traders duplicating his/her trades. The skilled trader's followers open a new position when he opens one, thus increasing the trader's trading chances.

Since Forex social trading platforms rely on the ability to duplicate and follow several traders possible globally, the best Forex social trading platforms are usually those with the biggest social trading community for Forex traders. They will also have Forex brokers that are successful at copy trading since this would permit traders to carry out as many trades as possible at any available time. Furthermore, the capability to link order performances between many trading accounts is another characteristic that can elevate a social trader broker's rank.

Factors In Choosing Forex Social Trading Platform

Money Security

The security of your money is an essential factor to be concerned about as you choose a Forex social trading platform. The Forex broker you choose should also have the ability to keep your money in a separate account as a precaution.

Ease Of Use

Several Forex social trading platforms provide clients with the opportunity to experience social trading in a real environment. A demo account helps appraise the platform and help traders practice their skills without putting any real funds at risk. You will also need to ensure that customer support services are easily accessible and efficient. Bigger Forex social trading networks will offer more attention to customers, and they usually offer communication with their support staff when issues arise.

Financial Regulations

The social platform you choose should be regulated by a respectable governing agency. Such agencies include the Cyprus Securities and Exchange Commission (CySEC) in the EU or the NFA in the U.S.

Risk Management

One of the most important factors is risk management. A few Forex brokers provide risk management tools that give guidance on risk and methods to reduce or eliminate losses. These tools might be especially useful for beginner traders who have just started trading.

Track Record

Search for the track record of traders with a higher success rate. Forex social trading platforms usually offer thorough historical analyses and statistics of each trading group and traders to help you decide which trader is worthy to follow. Several Forex trading platforms also offer tools to choose traders depending on maximum drawdown, the return on investment, success rate, and pips earned.

Commissions And Fees

Management of commissions and fees are also important. The fee charged by any Forex social trading platform differ among various providers which will have their own commission plans and fee schedules.

Research Tools And Mobile App

Most traders might be satisfied with the basic functions of the platform, but it's always beneficial possess some tools if necessary. Two of the essential tools that several Forex brokers provide are the analysis features and the mobile app. It is essential to determine if the app supports the platform, as well as the effectiveness and variations of the analysis features.

Wide Variety of Assets

A good platform will also provide a wide variety of assets for traders to trade. Many traders choose to trade indices, precious metals, or currency pairs. It is important for the platform to allow traders to pick the size of their positions and their trading level, customize their interface, and set sell and buy limits.

Building Community

A social platform can help in building contacts within the trading community. It is a good place to make new contacts and share views, helping to build up a community of like-minded people.

Forex Social Trading Verdict

Social platforms have been gaining lots of popularity in recent years. Forex social trading is the newest concept of earning profits in the Forex industry, while gaining experience. Copying trades of successful and experienced traders help traders execute trades with minimum risk and simultaneously learn the strategies others.

Forex social trading is perfect for beginners and novice traders who need help with trading in the market. They can gain knowledge and understand the market by interacting with others and exchanging views. However, it is important to note that the Forex is highly volatile and speculative. Even the most experienced trader may not guarantee a profit. Therefore, it is better for beginner traders to keep the risk level low and within their capacity.

Forex Social Trading Verdict

Social trading in the Forex market has been steadily gaining popularity over the past few years due to the wide variety of benefits for traders. Not only is the copy-trading feature very advantageous to traders, but traders will also be able to communicate with each other over the platform, increasing the exchange of knowledge. However, to find a good social trading platform requires knowledge of the important characteristics to look for. Hence, this article has detailed these important characteristics that you should make sure to identify when engaging in social trading, to create a positive experience for you.

We've collected thousands of datapoints and written a guide to help you find the best Forex Social Trading for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Social Forex Investment platforms below. You can go straight to the broker list here.

Reputable Forex Social Trading Checklist

There are a number of important factors to consider when picking an online Social Forex Investment Platforms trading brokerage.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Social Forex Investment Platforms.

We compare these features to make it easier for you to make a more informed choice.

Top 15 Social Forex Investment Platforms of 2021 compared

Here are the top Social Forex Investment Platforms.

Compare Social Forex Investment Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are Social Forex Investment platforms. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more Social Forex Investment platforms that accept Social Forex Investment platforms clients

Broker eToro IC Markets AvaTrade Pepperstone FXPrimus Axitrader Swissquote forexmart phoenixmarkets ezinvest ETX Capital
Rating
Regulation Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) 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 Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA) Financial Conduct Authority (FCA) Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA)
Min Deposit 200 200 250 200 100 No minimum deposit 1000 1 500 500 100
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 20,000,000+ 180,000+ 200,000+ 10,000+ 10,000+ 10,000+ 300,000+ 10,000+ 10,000+ 10,000+ 10,000+
Benefits
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Offers STP
  • Allows scalping
  • Offers STP
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
Accounts
  • Demo account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • Raw Spread account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, Mac, ZuluTrade, Web Trader, Tablet & Mobile apps MT4, MT5, ZuluTrade, Web Trader, Tablet & Mobile apps MT4,WEB,desktop MT4,mac,Android.iPhone/iPad MT4,mac,Android.iPhone/iPad MT4, Mac, Mirror Trader, Binary, Tablet & Mobile apps
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
etoro
Sign Up with
icmarkets
Sign Up with
avatrade
Sign Up with
pepperstone
Sign Up with
fxprimus
Sign Up with
axitrader
Sign Up with
swissquote
Sign Up with
forexmart
Sign Up with
phoenixmarkets
Sign Up with
ezinvest
Sign Up with
etxcapital
Risk Warning 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 72% of retail investor accounts lose money when trading CFDs with this provider CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits Your capital is at risk Your capital is at risk Your capital is at risk Losses can exceed deposits
Demo eToro
Demo
IC Markets
Demo
AvaTrade
Demo
Pepperstone
Demo
FXPrimus
Demo
Axitrader
Demo
Swissquote
Demo
ForexMart
Demo
Phoenix Markets
Demo
EZINVEST
Demo
ETX Capital
Demo
Excluded Countries IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, 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, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA BE, BR, KP, NZ, TR, US, CA, SG BR, KR, IR, IQ, SY, JP, US AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. US, JP US BE, CA, IR, JP, KP, US, BA, ET, IQ, UG, VU, YE, AF, LA, TR, SY, IL BE, CA, IR, JP, KP, US, BA, ET, IQ, UG, VU, YE, AF, LA, TR, SY, IL US, BE, CA , SG, BE

All Social Forex Investment platforms in more detail

You can compare Social Forex Investment Platforms 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 Investment Platforms for 2021 article further below. You can see it now by clicking here

We have listed top Social Forex Investment platforms below.

Forex Social Trading List

eToro
(4/5)
Min deposit : 200
eToro was established in 2007 and is used by over 20000000+ traders. 67% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). Cryptocurrency availability with eToro is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)
IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
AvaTrade
(4/5)
Min deposit : 250
AvaTrade was established in 2006 and is used by over 200000+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, CFDs, Spread Betting, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)
Pepperstone
(4/5)
Min deposit : 200
Pepperstone was established in 2010 and is used by over 10000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% 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 Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by 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
FXPrimus
(4/5)
Min deposit : 100
FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)
Axitrader
(3/5)
Min deposit : 0
Axitrader was established in 2007 and is used by over 10000+ traders. Losses can exceed deposits Axitrader offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, ZuluTrade, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Dubai Financial Services Authority (DFSA)
Swissquote
(3/5)
Min deposit : 1000
Swissquote was established in 1999 and is used by over 300000+ traders. Losses can exceed deposits Swissquote offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, ZuluTrade, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA)
forexmart
(3/5)
Min deposit : 1
ForexMart was established in 2015 and is used by over 10000+ traders. Your capital is at risk ForexMart offers Forex trading, CFD trading, Social trading, Share Dealing, Crypocurrency trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4,WEB,desktop

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
phoenixmarkets
(3/5)
Min deposit : 500
Phoenix Markets was established in 2013 and is used by over 10000+ traders. Your capital is at risk Phoenix Markets offers Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4,mac,Android.iPhone/iPad

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
ezinvest
(3/5)
Min deposit : 500
EZINVEST was established in 2008 and is used by over 10000+ traders. Your capital is at risk EZINVEST offers Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4,mac,Android.iPhone/iPad

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
ETX Capital
(3/5)
Min deposit : 100
ETX Capital was established in 2002 and is used by over 10000+ traders. Losses can exceed deposits ETX Capital offers Forex, CFDs, Spread Betting.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Binary, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA)