What is Social Trading? The Best Social Trading Platforms

A social trading platform is an online platform that allows traders to share their ideas, view the statistics of other traders, trade independently, or choose to follow the trades of other traders. In simple terms, they are like social networks, but dedicated to traders and trading activities.

The history of these platforms dates back to the early 2000s when traders gathered in forums to discuss financial markets and trading strategies. Social trading, as we know it today, emerged in 2010, thanks to eToro, the first brokerage to implement a social component into its trading platform.

As of today, eToro remains the best social trading platform globally, but over time, many alternatives offering similar services have emerged. In this article from Brokerland, we will delve into a comprehensive explanation of social trading, its advantages and risks, the differences from copy trading, mirror trading, and most importantly, introduce the top 10 platforms for this service.

Concept of Social Trading

A social trading platform primarily allows traders to interact like a social network, and in the second stage, it permits them to both independently invest and copy the activities of other traders on the platform. This feature is appealing for both full-time traders and individuals seeking part-time forex trading.

In essence, while “social trading” fundamentally allows traders to discuss markets with each other, many platforms also implement copy trading or mirror trading services to date.

This flexibility makes these platforms highly versatile, as more experienced traders can trade independently and earn commissions by having some users copy their trades, while less experienced traders can copy experienced ones to achieve similar performance.

Differences Between Social Trading, Copy Trading, and Mirror Trading

Due to the similarities among social trading, copy trading, and mirror trading, let’s explore their differences for better understanding. These platforms focus on traders interacting with each other, while copy trading and mirror trading platforms concentrate on providing the ability to copy other traders and/or algorithmic trading strategies.

Copy trading platforms essentially offer a form of automated trading, enabling traders to copy the trades of others. This can be similar to what social trading provides but without the same levels of social interaction.

On the other hand, mirror trading involves precisely copying positions based on algorithmically encoded trading strategies that behave in a specific way. This means you follow an exact strategy with the same opening and closing times in a fully automated environment that provides forex signals.

Differences Between Social Trading, Copy Trading, and Mirror Trading

Key Points in Using a Social Trading Platform

Social trading can be a highly profitable method if used appropriately. Here are some important points to consider:

  1. Prioritize following traders who have demonstrated experience and stability. While their insights and ideas can be valuable, always remember to conduct your research before deciding to invest.
  2. While recommendations from other traders can be useful, it’s crucial never to open a position without conducting necessary due diligence.
  3. A nearly perfect success rate in trading orders may seem enticing, but it often indicates that a trader is following high-risk trading techniques like the martingale strategy. Understanding that occasional losses are part of trading is crucial, and blindly copying such traders may lead to opposite results.

Pros and Cons

Here’s a look at some of the pros and cons of social trading:


  1. It allows you to connect with some of the best and most successful traders in the industry.
  2. You can benefit from the professional market insights of many other traders.
  3. Social trading platforms can be an excellent way to learn and rapidly develop your skills as a trader.

Social Trading Cons

  1. There’s always the possibility of being easily influenced, especially for newer traders.
  2. The fact that even non-experts can share their opinions on a platform means you always need to conduct your research on any information.

The best Social Trading Platforms

Here are the safest and best social trading platforms, along with their features:

eToro, The best Social Trading Platform

  • eToro offers a proprietary platform that excels in both copy trading and social trading.
  • Customers can fully engage with other traders, like, comment, and follow them.
  • eToro provides a news feed feature to keep traders fully updated and allow them to follow their favorite traders.
  • The eToro social platform requires no downloads.
  • Offers over 1000 assets, both CFDs and real, with a minimum deposit ranging from $10 to $200, depending on your location.
  • Provides an unlimited demo account for testing the platform.
  • One of the significant advantages of eToro is zero commissions on stocks and ETFs, along with a solid cryptocurrency investment service, including a crypto wallet.

The best Social Trading Platforms

ZuluTrade Social Trading Platform

  • ZuluTrade is a platform specializing in copy trading and social trading. The availability of assets depends on the chosen broker and is not directly provided by ZuluTrade.
  • With ZuluTrade, users have access to features for interacting with signal providers, expressing opinions, and providing feedback on trading strategies.
  • ZuluTrade also offers the ZuluRank feature, ranking the best traders for copy trading.
  • The platform is highly customizable in terms of client interaction and provides excellent tools for finding and copying expert traders.
  • The minimum deposit on ZuluTrade is $100, and there is a risk-free unlimited
  • demo account available.

NAGA Platform

  • NAGA’s proprietary platform combines social and copy trading, and innovative investment services like the NAGA Portfolio.
  • The NAGA platform allows social trading with professional tools, automated copying of other traders, and interaction with a community.
  • Several financial methods are accepted, including a personal IBAN card and NAGA.
  • NAGA offers over 1000 assets with a minimum deposit of $50.
  • Opening a risk-free demo account is possible for testing the platform.
  • NAGA is actively involved in the field of cryptocurrencies and blockchain.

NAGA Platform

Darwinex Social Trading Platform

  • Darwinex provides social trading through the webtrader platform. Customers can interact with the Darwinex community and follow other traders.
  • For those who want to copy trade with Darwinex, this can be done using MT4 EA, MQL site, and API, where customers can copy strategies and expert advisors to enhance their own strategies.
  • Darwinex’s platform is more suitable for professional traders looking to use advanced trading tools, and it also benefits from low trading costs.
  • Over 300 assets are available on Darwinex, and trading can start with a minimum deposit of $500.
  • A demo account is available for every customer.


  • AvaTrade offers social and copy trading through two platforms: ZuluTrade and AvaSocial.
  • With ZuluTrade, users can connect their AvaTrade account to the platform and copy the positions of expert traders.
  • AvaSocial is their proprietary trading program, partnered with Pelican Trading and regulated by the FCA.
  • AvaTrade provides a wide range of 1000+ CFDs with a minimum deposit of $100. A 21-day demo account is available for customers.
  • AvaTrade is one of the few brokers offering fixed spread starting from 0.9 pips in forex.

Vantage Social Trading platform

  • Social trading on Vantage is conducted through Vantage AutoTrade, supported by Myfxbook.
  • Through the Vantage platform, users can interact with over 90,000 other traders.
  • The entire Vantage platform is accessible online through the browser.
  • Vantage offers several analytical tools with precise statistics for its customers.
  • With a minimum deposit of $200, Vantage provides over 400 assets. A demo account is available.
  • Vantage offers low spreads starting from 0 pips in forex and efficient ECN execution.

Vantage Social Trading platform

IC Markets

  • IC Markets makes social trading easy through platforms like Myfxbook and ZuluTrade.
  • ZuluTrade, with enhanced features, allows investors to review, rank, and interact with other traders.
  • Collaborating with Myfxbook, IC offers Autotrade, enabling customers to directly copy signal providers’ strategies on Myfxbook to their IC Markets account. MT4 is also available.
  • IC Markets provides a range of 1700+ CFDs, and the minimum deposit is $200.
  • It also allows the use of a risk-free demo account.
  • IC Markets offers low spreads from 0 pips in forex and supports algorithmic trading, as discussed in the article on AI in forex.

Pepperstone Social Trading Platform

  • For those seeking social and copy trading through Pepperstone, they can connect their accounts to DupliTrade.
  • DupliTrade works with MT4 Pepperstone to facilitate copy and social trading, providing a customizable platform with various ways to connect to other traders.
  • Connecting with DupliTrade through Pepperstone requires a minimum deposit of over $5000.
  • Pepperstone offers 200+ CFDs, including 60 forex pairs.
  • New customers can benefit from a risk-free demo account.
  • Pepperstone’s primary strengths include fast order execution, low spreads starting from 0 pips in forex, and trading through popular platforms like MT4, MT5, and cTrader.


  • Axiory’s CopyTrading platform allows for social trading and is managed by Axiory’s affiliate, Pelican Trading.
  • The platform is not available for European customers, and users need an Axiory MAX account to participate.
  • The Axiory MAX account requires a minimum deposit of $10 and offers spreads starting from 1.8 pips.
  • The CopyTrading program is accessible on both Android and iOS devices for Axiory traders.
  • Axiory provides over 150 CFD assets with a minimum deposit of $10, and an unlimited demo account is available.


TickMill Social Trading Platform

  • TickMill offers two platforms: TickMill CopyTrading, Myfxbook, and, for a more focused social trading experience, Pelican Trading.
  • Pelican Trading, a service regulated by FCA, allows traders to chat, share news, provide and sell trading signals, and participate in copy trading.
  • TickMill provides 80 CFDs with a minimum deposit of $100. A highly useful demo account is available for traders on this platform.
  • TickMill offers a good trading environment with competitive spreads and various trading and educational tools.


In general, social trading is a highly popular segment in trading and can be a very useful system for all traders. It can be an excellent way to share knowledge with top-notch experienced traders and truly help you gain excellent market insights, especially as a newer trader.

The only caution is to be careful about researching all the information you come across. Regardless of how well-advertised or secure they may seem, refrain from entering any high-risk investments. With these fundamental rules, using one of the best social trading platforms and forex broker can be a good experience for both investors and signal providers.

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