Social Trading Overview
The area of social trading is rapidly expanding in the Forex market and BlackBull Markets has partnered with the best social trading providers available. Clients can now copy and follow trades made by others, directly from the trading accounts.
What is Social Trading?
Traders can follow and copy trades made by others, direct into their BlackBull Markets trading account. Social Trading may be an ideal service for traders who are interested in the markets yet are short of time or lack market education, or just simply wish to have someone else trade on their behalf. It’s also cost-effective due to the lack of performance or admin fees.
Why Social Trading?
We believe part of the reason MetaTrader remains so popular with traders is because of its ability to automate trades easily. You might be thinking you like the forex markets but don’t know enough about them or don’t have enough time to trade. Or perhaps you might be trading another asset class and wish to diversify into forex and CFDs.
Here are some of the reasons why BlackBull Markets clients use social trading:
- Start-up costs are low. You don’t always need to have a large initial deposit to begin trading with automated signals or copy trading. Some providers will allow you to start with as little as $200.
- Diversifying your risk. You can allocate different strategy providers with certain social trading platforms, giving you an ability to diversify risk rather than rely on a single provider.
- Verified trading results. Some social trading websites work with traders who are on live accounts only. There’s no demo or virtual accounts being used and there is a clear track record of results over a period of time for you to decide about which one you prefer.
- Save on fees. Money management with experienced traders can sometimes attract administration fees or performance fees. Social trading providers often charge fixed fees or a fee in the way of slightly wider trading spread.
Black Bull Group Limited (trading name: BlackBull Markets) is a New Zealand registered and incorporated company (company number: 5463921). We are also registered with the Financial Services Provider Register (number: FSP403326).
Black Bull Group UK Limited is registered in United Kingdom, Company Number - 9556804. Payment clearing services provided by: BlackBull Group UK Limited (Company Number - 9556804) Address - 483 Green Lanes, London, Greater London, United Kingdom, N13 485
Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.
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