How To Use Social Trading Tools

According to the SocialTrader Tools FAQ section, MT5 traders can sign in too, but only those using the MT5 Hedging type of account. In this SocialTrader Tools review, we will break down how the platform works and what is the overall customers’ experience. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.

With Social Trader Tools, you can manage an infinite number of MT4/MT5 accounts from any MT4/MT5 broker from a single platform. There is no need for additional software, sophisticated installations, or VPS servers. The Dashboard; The Dashboard gives you a real time picture of your accounts all in one place, avoiding the need to cycle between different terminals to manage your portfolio.

Direct, Personalised Trading and Mindset Guidance From Industry Experts

Whitelabels can be setup with a signal leader board, creating your own mini signal site. Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders. Usually, companies will have a huge amount of reviews on Trustpilotand ForexPeaceArmy, which is where we usually take a look. Although they carry a much higher risk, they will only constitute a small portion of your portfolio management and will be completely automated. They have the potential to grow significantly during large winning streaks and high-risk-reward plays. Submit your account credentials to the platform, and all your exchange accounts will be safely housed in the cloud 24 hours a day, seven days a week.

socialtrader tools

The dashboard allows you to add pretty much unlimited MT4 accounts, regardless of which broker you’re using. Having all of your accounts/investor accounts compiled in one dashboard is so useful for money managers or traders scaling up their operations. This is even going to be useful for traders with multiple prop firm funded accounts, to have them all in one place. Once you have determined that the platform is regulated within your region, you must ensure that it contains all of the features you want, like the following. This functionality is a possibility to reverse copy trades the actions of social trader tools.

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Although I am trading on the higher time frames that does not require me being too precise, using this tool saves me a lot of time. Execution is fast; you can even use this for scalping as long as your entry and exit are not within milliseconds. However, the lack of a demo account and the subscription fee of 20 USD per month could be a setback. Inexperienced traders, on another side, should search for other social and copy trading opportunities. SocialTrading Tools is a sophisticated platform attractive for advanced traders.

socialtrader tools

Social Trader Tools is a trade copying tool and one of the top leading trade copier tools in the forex market right now. Traders can now manage an unlimited number of MT4/MT5 accounts from any MT4/MT5 broker via Social Trader tool. You would still only be having to open, manage and close positions on your personal trading account. Social trading is based on copying other investors’ trades to replicate their investment strategy. This is achieved through a social trading platform, which makes the investment process simple and convenient. If you follow successful traders, it will be logical to learn from others.

ZuluTrade ranks Traders based on performance, stability, behavior and… To differentiate ourselves from ‘Gamblers’ at The Social Traders we use a strict 1% risk model alongside the correct risk management. This means each trade placed will only ever risk 1% of the capital in your account. Trading without stop-losses is a form of gambling and we will never approach the markets this way. We teach to become consistently profitable not just profitable, anyone can have a good day, week, month in the markets but may struggle over a longer period. Our strategy, community and mentorship will provide the foundation to become a consistently profitable trader.

Features of Social Trader Tools

Once you enter your details, you will be offered to select your account hosting package . Each account you sign in to will cost you 20 USD per month. Unfortunately, there isn’t also a demo account or limited free trial, so in our opinion, you may start with up to 5 accounts and check if it works for you. This system involves selecting traders who generally have more experience and a higher success rate and replicating their trades…. Compare the most upfront copy trading services in just a few clicks with Acorn 2 Oak. Complete our enquiry form, and we will provide you with up to 4 FREE quotes, with no subscription on demand.

socialtrader tools

It allows the typical Joe to benefit from the expertise of full-time traders. Risk Multiplier by Equity – Proportional lot size based the equity of both accounts. Risk Multiplier by Balance – Proportional lot size based the balance of both accounts. One of the main function of the Social Trader tool is to copy trades, and it rightly does so with one of the fastest average replication speed on the market at 50 ms. Social Trader Tools can keep an eye on the equity levels in your accounts in case of any mishaps. Social Trader Tools thus makes it simple to close off trades completely or to receive alerts.

Why Social.Trade?

Although they are much higher risk, they will only amount to a small percentage of your portfolio and be running completely automated. They could grow vastly during large winning streaks socialtrader tools and during great risk to reward plays. If you’re a profitable forex trader, you could sell your trades to investors to make a small extra profit per trade, or on a subscription basis.

This then caused me to fail my challenge as these 12 seconds resulted in me exceeding my max daily drawdown because the price of course continue to move… This is already bad, so I had limited my EA to take less than 10 trades. Let’s be real, you’re having a hard time in the market alone. Gain perspective and insights from traders of all backgrounds and experience levels.

  • ZuluTrade ranks Traders based on performance, stability, behavior and…
  • No content locks, gain full access to all current and upcoming PRO content to master the FX markets with a true understanding of technicals, mindset and psychology.
  • Compare the most upfront copy trading services in just a few clicks with Acorn 2 Oak.
  • Social Trader Tools thus makes it simple to close off trades completely or to receive alerts.
  • You may need to consider other trade copiers to make an objective decision.
  • Through a signal page, you can utilize Social Trader Tools to offer your own trading account as a signal to other users.
  • It’s worth knowing that if you need more than 20 accounts on your trade copier, more packages are available.

At the end of this post, you will get to know everything about Social Trader Tool, features, pricing and what other traders are saying about this forex trade copier. Once you connect your account with the platform , you are ready to join the social trading segment. Looking for a trading community committed to success as much as you are?

Copy traders, manage all your exchange accounts, use market-making and exchange/market arbitrage and simulate or backtest your trading. Fast automated trading, and portfolio management for Bitcoin, Ethereum, Litecoin, and 100+ other cryptocurrencies on the world’s top crypto exchanges. The Trader Copier is the core feature of SocialTrader Tools. This option allows you to set up copy trading on multiple accounts. You can choose among three different Trader Copier modes – On, Off and Manage existing trades only. It is useful amidst advanced traders and service providers looking for a platform to serve their community.

Social Trader Tools Reviews – What Are Traders Saying?

It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While has some data verified, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers in the term of commission. Our receipt of such compensation shall not be construed as an endorsement or recommendation by, nor shall it bias our reviews. This way, you’re able to copy your trades automatically onto the other brokers and limit your potential losses, should the worst happen.

Now we know what the platform actually is, let’s take a look at the features in a bit of depth.

What Should You Look for in a Social Trading Platform?

You can register your account to be a signals provider, which gives you your very own URL/landing page. Investors will be able to see your results and add their accounts to follow your trades if they’re happy with your trading results. You’ll never be competing with other signal sellers as there isn’t a dashboard comparing all providers, you will just have your own landing page displaying your stats. This is great to traders looking to take on additional funds. This is a feature that none of the other big setup trade copiers provide, so if this business model appeals to you, I will take advantage of it as soon as possible. Social Trader Tools has a compelling trading system that can replicate trades.

Our trade copier is the fastest copier in the market with an average replication speed of 50ms. Once you have your accounts connected to the platform you can setup trade copiers. Trade copiers are highly configurable with various risk types and settings covering all scenarios. With Social Trader Tools you can offer your own trading account out to other users as a signal via a signal page.

Many novice traders use forex copy trading providers when….. Used it for a month with only two accounts , then I upgraded the plan and added one more account BAD MISTAKE! This isn’t a feature that any of the other leading trade copiersoffer, so I would certainly take advantage of this soon if this business model would be of interest to you. Click hereto read more in-depth analyses of various social and copy trading platforms. In the middle of copying trades the system suddenly lost connection to my account missing a few trades that has been already placed.

In short, Social Trader Tools is a great platform for traders looking to utilise a trade copier and have all of their accounts in one place. Although it’s more pricey than alternatives like MT4 Copier, it’ll save a lot of time seeing as it’s cloud based and you’re setup in about 5 minutes. This really is a great tool for fund managers and traders looking to take on more trading accounts. Social Trader Tools is a program designed for forex traders who want to duplicate deals from one account to several others automatically. The trade copieris the most popular feature within Social Trader Tools platform.

Often Trading gets confused with ‘Gambling’ because of this. The first part of the strategy is what we call the ‘Pattern Strategy’. By understanding this part of the strategy you will develop a sharp eye for market structure and overall market discretion, allowing you to right side of the market.

The next step is adding the accounts and finally creating the copier. On a positive note – you feel lost at any step – SocialTrading Tools Provide you with detailed video tutorials to help you. 1st time I used them I already noticed that their system is really slow. All we ask is that you treat trading seriously and approach it as a business, not a hobby.