Social Trading

I have been looking into trying to provide signals via different social trading sites. I would like to be clear I am not looking to follow people I would like people to follow my strategies. I have tried zulu but I am not really a fan. I would like people to follow live accounts but I don’t want to start opening accounts with spiv brokers. Does anyone have experience here providing signals and would like to share them?

Darwinex.
Once you get past the stupid name they seem alot better than the other social trading outfits.

Only live accounts, no idiots making out they are big hot shot traders while trading on a demo.
Lmax liquidity, exact same super low spreads as Lmax.
Platforms Mt4 and CTrader.
Regulated in the UK.

I am not sure how much you can make from being a siganl provider but at least you will be trading with a broker that is NDD and regulated while you figure that out.

To me Zulutrade and Etoro seem wrong on so many different levels with way too a high spreads for “real traders”

I suppose that is the secondary questions which is would it even be worth it. I think given the size that I trade I think that it could be good but its only really worth it if I can get about 100k following me which from what I can work out is very hard even on zulu.

I was thinking of doing the same as a way to make extra money but I think you are correct, need too many followers to make money. Another option might be to open a PAMM account and market that but not really sure on how legal it is in terms of being financially registered if it is in a regulated country ie UK or US.

You can charge 20% performance fee and 1% admin fee for a PAMM. It maybe is something to look into if you know some friends or family who want to invest and of course if you have a proven and verified track record.

seem the next incoming year would be the rise of social trading. you may consider to check with myfxbook autotrade system. while official mql also offer similar service, but it apply for any trading account. everyone could register and got approved as signal provider even your demo account :). but that’s not happen with myfxbook, provider should meet several requirement before got approved. but they lack with supported brokers, not all broker support it feature but new featured brokers always added, and also got linked, i’ve done this routine use my armada markets account, even you can use demo account first to see if the provider fits your need, and eligible enough to linked with your real account.

Just an FYI, I just found out that when following, there could be a chance of higher drawdowns and that isn’t a good news at all.

Yes. I am happy to deal with and work out of my own DD’s, but wouldn’t want to cope with seeing someone elses DD start to pull apart my capital. :-/

Thanks for the helpful advice. I will look into the pamm idea eventually. But it seems like the fairest set up if you have a decent track record.

I would not like to tell you to avoid this. Just have your time to study, research and market analysis.

You should look into ayondo. I was looking for a similar service and they seem to fit the bill for me.

In what way they are the same as zulutrade? Can you tell me the details please?

Did you read the old posts? They are not the same he was saying that they offer a similar service to what i want which is more PAMM style a/c.

Never heard of Ayondo yet. When did they start operating?

They are old in the market, but i think services are not as popular and available to all the countries, as zulutrade is.
i remember i checked ayondo long time ago, but they asked for a huge initial amount to open an account.

They seem very open now. They told me you need just 10 pounds to open an account now. Plus they seem to have some good traders on there, myself included.

We need to know what actually social trading is.Social trading is the newest, most exciting and most rewarding way for you to get access to the financial markets. By linking traders from all over the world into one big network, social trading empowers traders to use each other’s skills to trade smarter together, and that collective wisdom can take your trading to a level you never thought possible before.
Social trading is the process through which online financial investors rely on user generated financial content gathered from various Web 2.0 applications as the major information source for making financial trading decisions. Social trading introduces a new way of analyzing financial data. Until recently, investors and traders were relying on fundamental and technical analysis to form their investment decisions. Now investors and traders can integrate into their investment decision-process social indicators that are fuelled by a transparent real-time trading data-feed of all the users in the social trading network. This is now being introduced as social financial analysis. Social trading has also been associated with a variety of online social trading networks.These social trading networks can be considered a subcategory of online social networks.

Social trading allows traders to trade online with the help of others. Social trading shortens the learning curve from novice to experienced Forex trader. Traders can interact with others, watch others take trades, then duplicate their trades and learn what prompted the top performer to take a trade in the first place. By copying trades, traders can learn which strategies work and which do not work, without risking their entire portfolio. Despite the influx of new social trading platforms, numbers still continue to increase showing a relevant and growing interest in the activity

Social trading is indeed a latest method of trading and in this way a newbie trader learns very fast. As expert traders are in that online gathering so learning become easy and fast.

Social trading is the newest, most exciting and most rewarding way for you to get access to the financial markets. By linking traders from all over the world into one big network, social trading empowers traders to use each other’s skills to trade smarter together, and that collective wisdom can take your trading to a level you never thought possible before.

As the world’s largest online financial trading community, nobody can offer your trading more of a social boost than eToro. And since we’re convinced that social trading is the way to the future of financial investment, we are constantly developing new tools to harness the unlimited possibilities of trading as a community. With such ground breaking features as CopyTrader, InvestorFinder, and much more to come, we are making it easier than ever for you to monetize not just your own potential, but that of your fellow traders!

Any how much are your followers making out of you?
would be an interesting to compare it to zulutrade.

What about zulutrade: you are not taking them into your consideration?