The term social trading is widely used within the trading community, and it represents quite a catchy and useful new term. Mainly, it allows you to trade among your own – people who are just like you, as well as connect with the trading pros. As a result, you have new and interactive ways for clients from all around the globe to mutually connect, share their wisdom, as well as their struggles.

This is quite encouraging, especially in today’s trading, which can be quite ruthless. For example, in Forex trading, things are going so fast. You never know what will happen next, of course, but you can try and detect Forex trends and conclude a lot from them. Since the beginning of trading on Foreign exchange, as well as all other markets, traders have been trying to detect the most common trends and other factors that contribute to their overall experience during a single day of trading.

Factors that Affect Trading

From the current political situation to the latest economic turmoil, there are so many factors that contribute to the idea of social trading. Even your internet connection can affect it! So, let’s check if those cables are connected to the router, and dive into our research!

Geopolitical Activity

This is the most common factor that affects your everyday trading. For example, if you are checking out how your favorite currency is doing on the market today, you will almost always compare it to another one – for example, USD/JPY. This imposes another set of rules that are forming in your mind as an individual trader.

Namely, you are looking at how both of those countries – the United States and Japan are dealing with their latest political events. Is there any confrontation, or are they negotiating new potential deals? Based on the answer, you can quite easily detect what will most likely happen to this currency pair in the near future.

Economic Data

Economic data is one of the main tools used by both traders and expert analysts. Simply, economic data is showing you all of the features of a certain economic landscape that interests you. There are many things to take into consideration here – from the unemployment rate to the central bank’s policies on the interest rates.

The Weather

Yes, you read that correctly. Weather is quite an important aspect that affects your market trading experience. For example, if a certain country is known for its rich soils that can grow raspberries by a bunch, you will want to know if, for example, a storm is approaching that can affect those assets.

The same goes for other ones, such as oil. Oil is affected by so many factors, from the ongoing health crisis to the possible natural disasters, such as floods or fires. Nature has its own way of creating a balance for itself, and the consequences for the market are often devastating.

Social Trading Platforms

So, how does all of this connect to the idea of social trading? Simple – trading platforms today are aiming to create a special place to make all of these analytic tools useful. There are so many things going on behind the scenes in these terms – analysis, expert opinions, market data assessments. As a result – you have a simple, user-friendly trading platform that organizes all of those data for you, so you can have a clear mind and focus solely on trading. Here are some of the platforms that are trying to contribute to the idea of social trading:



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Platform Our Score Customers-score Overall score Platform-execution Withdrawal speed Support-assistance Education-Tools
FXVC 87.5% 89% 88% 92% 83% 78% 97%
E Toro 83% 85% 84% 81% 93% 75% 82%
SECUREDVC 82% 80% 81.5% 73% 96% 81% 78%
24OPTION 80% 78% 79% 84% 68% 89% 76%
Stockscm 77% 79% 78% 80% 75% 65% 86%
FX PRO 76% 74% 75% 73% 80% 83% 67%
YORKCG 75% 73% 74% 82% 77% 65% 79%
FXTM 74% 72% 73% 65% 73% 81% 77%
XTB 36% 39% 37.5% 37% 25% 37% 46%
City Index 34% 37% 33.5% 26% 29% 40% 39%