Vyacheslav K. from Saint Petersburg, Russia: I’m interested to try social trading but I don’t know which network is right for me. How do I select a social trading network which one do you recommend?
Hi Vyacheslav and CompariZone readers,selecting a social trading network will be dependent on your trading needs and preferences. For example, if you want to try out with a demo account first before trading with real money then you need to make sure that the broker that you are signing-up with offers a social trading demo account.
Another factor to consider is if the broker will accept your minimum trading conditions. Do you prefer investing less than $500? Do you prefer low spreads? Do you want low slippage?Make sure to check first if the broker can provide you with the acceptable trading parameters by visiting their website or by contacting their support team for further clarifications.
Also verify if your broker allows social interaction and messaging. Not all networks have this feature so if you’re the type of trader who wants to use this medium for discovering market sentiments then you need to be with a broker that has a strong and active community section.
In the end it’s always up to you so make sure to select a social trading network and platform that is able to meet all of your needs and requirements. We highly recommend that you check out BelforFx which is one of the current market leaders in the social trading industry. You may click here to access their website.