KEY FEATURES OF SOCIAL TRADING
- Information flow: Social Trading involves the free flow of information between individual financial investors. Unencumbered access to information is important in financial trading and that makes the free exchange of information of interest to small scale as well as individual investors.
- Cooperative trading: Social Trading offers traders the opportunity to work together in trading teams which can trade the markets collaboratively, whether by pooling funds, dividing research or through sharing information.
- Monetization: In the broader sense, monetization strategies are not always clear with social network but the long-term worth of such websites may come from variety and depth of data their users which their active communities are likely to generate with social network in general
- Transparency: Social trading platforms reveal traders' performance stats, open and past positions, and market sentiment, giving members complete information to assess the credibility of the contributors they follow on the platform
Copytrade is a strategy which is often used by some new investors. It doesn't require them to have too much experience in trading. This process is very simple, you just need deposit, then select traders that you deem appropriate, the software will automatically copy buying and selling orders of that traders and they will earn money for you.