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Social Trading tips and insights

Social Trading tips and insights

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Global Business Review Magazine
Tuesday, February 7, 2023
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Social Trading tips and insights

Social Trading tips and insights

The realm of fintech ( financial technology ) is advancing at a faster pace, the term democratization of finance has now become the most important of all global development perspective in the recent years. If we are being honest, democratization process can be understood in many perspectives. For some it refers to the provision of basic financial services such as creating new bank accounts, to previously unattainable and unbanked populations and for some it means gaining access to more sophisticated financial services like trading and investing which was previously unattainable.  But such services are now available within the reach of people easily all around the world irrespective of the financial background they hold or even the experiences with the financial markets, all thanks to social trading. Social trading is nothing but trading which is combined with social media dimensions.

‘’For those looking to improve their trading, eToro offers so much more than just a copy trading platform’’ , states the company. It’s a leading collaborative company of traders and investors. The company allows its users to monitor their preferred traders and even a demo account free of cost to try out all that they have learnt in a safe and stimulated environment. Recently eToro beefed up their crypto currency trading capabilities, especially the customers in the United States have access to trade in some of the biggest crypto currencies in the market like bitcoin, ethereum and ripple. At the same time, not all countries have access to his feature and certain features are restricted to specific locations. ZuluTrade is a similarly popular platform, particularly for trading forex (foreign exchange) and binary-option contracts. Darwinex is another highly rated social trading network, but the focus here is completely on opportunities to invest in trade strategies. 

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It can offer a lot to new investors, a handful of key benefits like allowing them to climb on experts’ trading strategies.  This provides the newbies with lots of insights like few of the easiest and quickest ways to maximize their returns. By just being able to communicate and discuss various aspects of financial markets and their strategies with the relevant community makes a way to use those substantial insights into understanding better and trading efficiently. This is cost effective and unlike traditional investment management , these social trading platforms does not need any minimum investment to start off with.

Trading comes with certain drawbacks, one such is that copy trading leaves the fate of an investor’s performance in the hands of the third person or the one they chose to copy. The fact that the copied trader has had a sufficiently impressive track record does not matter for the further trading and no guarantee that there will be the same success rate while going forward. . The community environment may bring the negative impact to some extent but social trading is unlikely to be a perfect substitute for learning and trading on one’s own. There is no substitute for the learning process, we know that. But it is applicable here too. There is no shortcuts to learn about investing and financial markets before one takes a decision of participating in the social trading or even copy trading for that matter. It is always recommended that the investors should conduct their own research on the specific markets they are opting to choose in order to gain the expertise and the required exposure, even if it ultimately achieved by mimicking the other traders or following their footsteps.

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After China central bank vows to crack crypto trade, Bitcoin slips

A glimpse of Cryptoverse DEX, and a brief accounting

FTX invested $300 million in Bahamas property as “personal fiefdom”

FTX invested $300 million in Bahamas property as “personal fiefdom”

Ant group sees fine from China over $1 bln, suggesting overhaul is almost done

Ant group sees fine from China over $1 bln, suggesting overhaul is almost done

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Budweiser World Cup advertising is limited by Qatar’s liquor ban; not destroyed

Budweiser World Cup advertising is limited by Qatar’s liquor ban; not destroyed

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  • A glimpse of Cryptoverse DEX, and a brief accounting
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