Social Trading Benefits
Social trading could be treated as a recent development in the cryptocurrency and forex markets. Its main idea is to allow investors to follow and copy trades made by others, directly into their XBroker trading account.
Also social trading is cost-effective because it does not involve any additional software of hardware for maintanance from neither traders nor investors.
Why Social Trading?
In case if a certain trader is interested in crypto or forex markets but doesn’t know enough about them, doesn’t have enough time to trade or probably might be trading another type of assets, then social trading is the best choice. Here are five of the main reasons how a trader can benefit from social trading:
- Verified perfomance: XBroker’s social trading publish accounts of traders only with a certain period of history. It means that there is presented a track record of results so an investor can make a decision with which one is more suitable for copying in terms of best perfomance, lowest drawdown, risk:reward ratio, etc.
- Risk diversification: As far as investors can allocate funds to different signals with the help of XBroker social tradimg, then there appears an ability to diversify risk between several traders or several asset clasess because XBroker has 300 instruments available.
- Low entry costs: If you want to give a start in social trading then you don’t need to have a big starting capital. On our trading platform there is no minimum deposit so providers allow investors to start with very little sums that could be enlarged later on if satisfied in trading after some period of subscription.
- Benchmark performance: Being a successfull trader with your own developed strategy you may want to compare your perfomance to other traders using the social trading leaderboard. You may find out that there might be a lack of perfomance that can lead to an idea of improvement in your trading system.
- Save on fees: Some social trading providers charge additional administration fees or performance fees while XBroker does not charge anything extra. So both traders and investors earn as much money as possible, i.e. can concentrate purely on receiving mutual benefit.