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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.
The number of social trading networks continues to increase as brokers see them as new growth engines for converting new and retaining old clients. Social trading increases participation in the market and leads to a greater volume of trades going through.