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Tuesday September 28, 2021 - 10:21:53 GMT
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Copy Vs Social Trading - which one is better for you as investor?

Those attracted by the potentially highly profitable opportunities of the financial markets often face the same difficulties at the beginning - understanding the complex terminology and thus struggling to make their informed decisions. For many, this obstacle is often a sufficient reason to forgo their endeavour, missing out on an opportunity to increase their financial stability. And while it is true that finding information on various topics nowadays is a matter of a few clicks, the truth is that many times provided information is too complicated or scattered, which eventually brings more perplexity to the novice.

We aim to help people from all walks of life by providing them with understandable and comprehensive information from the world of trading and investing. We select current topics that are of interest to many as we wish to support their journey and help them maximise their trading or investing potential.

Not long ago, exploring the profit potential of the financial markets was available to a handful of specialists who have spent years in learning and practising, developing skills and knowledge. However, the advancement of IT technologies enabled thousands of other people to follow and copy the examples of the professionals. Thus they could have achieved profits without having previous experience or knowledge in the field. This growing trend is known as “copy trading”.

To be able to “copy” the trading strategies of seasoned traders, beginners must create a profile and open an account. Various copy trading platforms offer to facilitate the connection between traders and investors, and in general, they are pretty similar. However, there are differences. The devil is in the detail, and further in this article, we will explore the differences between “copy” and “social” trading, the forex signals, and the differences between copy trading and forex signals. We will also delve into the topic of forex brokers and what you should pay attention to when selecting your forex broker. Finally, we will talk about forex affiliates and how they participate in the world of trading and investing.

Copy Trading Vs Social Trading

As we mentioned, there is a wide range of platforms offering copy trading opportunities for those with lesser experience in the financial markets. Some of them also advertise as “copy and social trading platforms”. Isn’t that the same? Well, not entirely. As the words suggest, “copy” refers to the simple act of selecting a particular trading strategy and adding it to the investor’s account after adjustment of the risk level parameters according to the investors’ goal. During the “copy” of the strategy, there is no communication between the professional trader and the investor. They don’t interact in any way, and the potential profits from the trading strategy are shared between them according to the preliminary agreement.

In “Social trading”, similar to social media, members of the community are involved in more intense communication. They exchange opinions on various topics, and often top traders provide online sessions where they discuss the trading strategies with their peers. In other words, social trading is broader than copy trading, providing channels for communication and more additional information.

If you are a complete novice in the financial markets with a no or limited understanding of trading, building trading strategies, open and closing trades, perhaps it is best to start with a copy trading platform to select and follow top traders. Earnex Exchange is a platform we believe provides investors with an easy-to-use interface, and you can join, open and start copying top traders in just a few easy steps.

On the other side, those with more experience would probably enjoy more active participation. Therefore a social trading platform such as eToro or Zulutrade will likely be an excellent option to them.

Forex Signals

Forex Signals are another way of correlation between traders and investors, which doesn't include copy trading. Forex Signals aim to identify the right trading opportunities at the right time. They have more the form of advice rather than a strict trading strategy to copy. Forex Signals are helpful as they can provide an excellent learning curve for those who wish to advance in their knowledge and enhance their trading activities. Additionally, forex signals can help them widen the scope of their profitability.

Forex brokers

Regardless of social or copy trading platforms will attract your attention, as an investor, you need to make sure that you open your account with a reliable forex broker. Their role is to provide you with access to a trading platform where different trades take action. Forex brokers can be regulated or non-regulated. Participating in the financial markets always involves risks, and one way to reduce this risk is to select a regulated broker. Each country has its financial regulatory authority, and several ones are monitoring the markets on international levels, for example, the Financial Conduct Authority (the FCA) in the UK.

When a forex broker is regulated, they must submit evidence of regular audits, their accounts on time and comply with rigorous criteria provided by the authorities to remain in their lists. This strict regulation ensures more security of traders and investors funds.

Forex affiliates

As we mentioned earlier, in social trading, many advanced traders communicate with their peers. This process often expands beyond the specific social trading platform, and they use their knowledge and influence to attract new investors. In that case, they act as “forex introducing broker” or “forex affiliate”. This partnership program enables them to earn additional revenue when outside peers follow their recommendations and commit to something.  Affiliate programmes can have various remuneration packages. The two most common compensation packages are the Cost-Per-Action (CPA) or Cost-Per-Lead (CPL). The first one suggests that the affiliate will receive a commission when a specific action is completed — for example, watching a promotional video or downloading an informational brochure.

In the CPL model, the affiliate receives a reward for each lead that is generated. For example, that could be signing to a mailing list or other form of subscription.

Successful affiliates partners can be individuals or companies with a social media account with many followers, a popular website or blog, video channel or client-data base.

 

 

 

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