Social Trader Tools has no reviews on either platforms, which is rare and almost slightly worrying. With that being said, they do have a range of testimonials on their own website from traders and fund managers having a lot of success with the platforms offering. I personally like to look at reviews more on third party sites, rather than a companies own website where they can potentially cherry pick the good reviews. The drawbacks of social trading are that you must rely on the expertise of others and risk losing your investment if you make the wrong decisions. You must invest more time in your account to determine whether the degree of return you are receiving is in line with your expectations. Pricing-wise, the Social Trader Tool will cost most traders $60 for trade, copying trades transactions onto five accounts.
Social Trader Toolsis a platform built for forex traders looking to copy trades from one account, to multiple others, automatically. The trade copier is the most popular component of the Social Trader Tools platform. The trade copieris the most popular feature within Social Trader Tools platform. By having a trade copier at your disposal, you’re able to spread risk different across multiple accounts leading to potentially much better diversification and results.
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Traders running signal services or managing investors funds are more likely going to need the premium package, which covers 20 accounts for $220. It’s worth knowing that if you need more than 20 accounts on your trade copier, more packages are available. If you are a trading expert, register as a partner, and let’s grow business together! If you follow successful traders, it will be logical to learn from others. There are better methods to make money than Losing trades by taking unrealistic risks. Social trading sounds very easy – look for the best traders, then copy trades.
I help people to copy my trades to pass their challenges such as on FTMO. If you don’t know how to configure the systems, this is not the fault of the platform. SocialTrading Tools is a sophisticated platform attractive for advanced traders. It is built well, and it has the advantage of being cloud-based independent from any VPS. If you are an expert trader with many years of experience, undoubtedly, the notion of starting your service is alluring. Social Trader Tools allows you to manage an unlimited amount of MT4/MT5 accounts from any MT4/MT5 broker, all from one platform.
Submit your account credentials to the platform, and all your exchange accounts will be safely housed in the cloud 24 hours a day, seven days a week. Join over 500+ members in an online Slack workspace, we trade the market with a combination of a discretionary ‘patterns’ style whilst incorporating ‘smart money’ concepts. You start a $200,000 FTMO challenge accountand add it to the copier, as well as a LuxTradingFirmchallenge too. Pexels.comYou must always keep an eye on the market and only trade if you know what is happening.
Copy-trading: Meaning, Pros, Cons,and Prop Firms that Allow It
This comes in written and video format and includes a 15 minute+ evening video update covering live positions, areas of interest and trade management. All major credit cards and PayPal are accepted for payment of the plans, which are based on a monthly subscription. Sometimes it loses connection to the server and it could be irritating when that happens, but so far it happens very rarely.
1st time I used them I already noticed that their system is really slow. Many trades are not copied to other members from Master account, upgrade of account is not working. Starting with SocialTrading Tools is a straightforward process that requires a few steps. Once you enter your details, you will be offered to select your account hosting package .
Handling risks Portfolio Management
The Dashboard; The Dashboard gives you a real time picture of your accounts all in one place, avoiding the need to cycle between different terminals to manage your portfolio. Your accounts will be hosted securely in the cloud 24/7 by just uploading your login information to the platform. Once you’ve added accounts, there are a variety of ways you can use the site. Social Trader Tools can keep an eye on the equity levels in your accounts in case of any mishaps. Social Trader Tools thus makes it simple to close off trades completely or to receive alerts. Claim your profile to access Trustpilot’s free business tools and connect with customers.
The Social Trading software provides an easy-to-use way to extend MetaTrader 4, 5, or 8 trading strategies. You can add your brand’s logo and select from a variety of style alternatives. The brokers that can be utilized on your Whitelabel can also be limited, and you can even include a broker affiliate link to direct users to the broker of your choice. One of the main function of the Social Trader tool is to copy trades, and it rightly does so with one of the fastest average replication speed on the market at 50 ms.
Social Trader Tools Reviews
ZuluTrade ranks Traders based on performance, stability, behavior and… Trading styles, accounts, and prop firm funding are all increasing, causing a slew of headaches when managing all accounts and open positions. Mismanagement of open trades is one of the leading causes of forex losses, costing traders millions of dollars every day. As the forex prop firm industry has grown, so has the amount of prop firms offering funding for traders.
Real time Email alert;Trading a 24 hour market necessitates that you keep track of your exposure and activities. By checking a box, Social Trader Tools allows you to set up real-time email alerts for any trading activity. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. They offered a refund for my 1 month subscription but of course not the 1000$ for the 200k challenge “as a gesture of goodwill we already offered you a refund on our service”…. I now had 6 US30 trades open, but this time their system screwed up badly, because it took an astonishing 12 seconds to close six! This then caused me to fail my challenge as these 12 seconds resulted in me exceeding my max daily drawdown because the price of course continue to move…
- Complete our enquiry form, and we will provide you with up to 4 FREE quotes, with no subscription on demand.
- Broker Restricted;Even though Social Trader Tools are compatible with any MT4/MT5 broker, you can limit which broker servers your white label clients can use.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
- In this SocialTrader Tools review, we will break down how the platform works and what is the overall customers’ experience.
- Your accounts will be hosted securely in the cloud 24/7 by just uploading your login information to the platform.
- They have the potential to grow significantly during large winning streaks and high-risk-reward plays.
It allows the typical Joe to benefit from the expertise of full-time traders. Performance fee – A monthly fee based on a percentage of profit achieved following the signal, on a high watermark basis. Risk Multiplier by Equity – Proportional lot size based the equity of both accounts. Risk Multiplier by Balance – Proportional lot size based the balance of both accounts.
Why Use Social Trader Tools?
Welcome to Acorn 2 Oak, the website where you cancompare and reviewa wide range of forex products and services, including managed accounts and copy trading, as well as leading forex brokers. We offer you a smart way to save time and money by comparing various fx opportunities. Anyone who trades can copy the trading strategy of other social trader tools thanks to social trading.
Social Trader Tools is a web based platform for anyone that uses MT4. Ezekiel is considered as one of the top forex traders around who actually care about giving back to the community. He makes six figures a trade in his own trading and behind the scenes, Ezekiel trains the traders who work in banks, fund management companies and prop trading firms. Once you understand the basics, it will make sense to start social trading.
SocialTrader Tools Copy Trading Review 2022
Find a suitable platform, seek trading advice and look up trading strategies and tips. Then, you can use this data to create and perform a custom trade or replicate the trade directly. Tradesmen with small businesses can use the basic $20 / month package for two separate accounts. This is a feature that none of the other big setup trade copiers provide, so if this business model appeals to you, I will take advantage of it as soon as possible.
Social Trader Tool Pricing
Making money with social commerce largely depends upon several factors. Social Trader Tools is a trade copying tool and one of the top leading trade copier tools in the forex market right now. Traders can now manage an unlimited number of MT4/MT5 accounts from any MT4/MT5 broker via Social Trader tool. In the middle of copying trades the system suddenly lost connection to my account missing a few trades that has been already placed. Customer service simply said they are not responsible for any losses tho they clearly admitted it was their system that was facing issues.
Copy Trading Reviews List
Your responsibility is to understand what a trader is doing when they make a decision, even if you are mimicking them. At the end of this post, you will get to know everything about Social Trader Tool, features, pricing and what other traders are saying about this forex trade copier. Once you connect your account with the platform , you are ready to join the social trading segment.
Once you have accounts added you can utilise the platform in many ways. Although they carry a much higher risk, they will only constitute a small portion of your portfolio management and will be completely automated. They have the potential to grow significantly during large winning streaks and high-risk-reward plays. The true advantage is that any trader may mimic the trading activity of top-performing traders who make a livelihood off of it.
Trading copiers have highly configurable risk profiles covering several scenarios. Facebook and Twitter are two social networking platforms that the majority of us are familiar with. Futures and options trading has large potential rewards, but also large potential risk.
For example, the majority of forex traders are going to use 1% risk per trade, potentially moving up to 2%. You could keep your main account on 1% risk, then have copier accounts running 5-10% risk, on much lower capital. Although they are much higher risk, they will only amount to a small percentage of your portfolio and be running completely automated.
His insights into the live market are highly sought after by retail traders. The copier is among the best on the market, ranking better https://xcritical.com/ than most of the Top Forex Trade Copiers. The features and stability of the trade copier make it one of the finest in the business.