tixee – One of The Best Social Trading Platforms!

The internet has given rise to many new ways for people from all over the planet to discover others with similar interests, including trading and investing. Online forums and social media help us connect at almost zero cost. Social trading platforms like tixee have evolved from social networks and help traders to meet, share ideas and trade collaboratively online.

In this article, you will learn about social trading platforms, the differences between copy trading and social trading and how to find the best social trading platform for your needs.

What is a Social Trading Platform？

Social trading platforms are online communities with unique features that allow traders to share trading ideas, strategies, techniques, statistics, portfolios and trade collectively – all in one place. Social trading platforms typically support mirror trading or copy trading features, but not necessarily. Tradingview is a popular example of a social trading platform that does not offer a copy trading functionality.

Social Trading vs Copy Trading

Many traders understandably confuse the terms social trading and copy trading; in fact, they are quite similar concepts and often go hand-in-hand. Copy trading is merely the process of copying trades from one account to another, whereas social trading is when the platform supports communication and collaboration.

The line between social trading and copy trading is blurry because both platforms have many overlapping features. For example, copy trading platforms utilize social features to help strategy providers promote their strategies. At the same time, social trading platforms implement copy trading for influencers to monetise their insights.

Benefits of Social Trading Platforms

Trading can be a very solitary activity. Humans are social creatures, so often prefer to discuss and collaborate to develop ideas and solve problems. The World Economic Forum describes social trading platforms as disrupting traditional wealth management solutions because they can offer less expensive, highly sophisticated alternative approaches and empower customers to have more control of their wealth management. Social trading offers many benefits for strategy creators and followers.

Strategy creators can stress test their theories and get feedback from their peers, create a statistics page of their performance and potentially let other traders copy their strategy for a share of their profits.

Those new to the markets can observe more experienced traders and learn about different trading styles and start copying potentially successful strategies. Traders can follow several strategies at the same time to create a portfolio and might hedge the risks of one or more strategies failing.

Top Social Trading Platforms

There are a handful of top social trading platforms that outperform the many others that lack critical features. When looking for a social trading platform, you want one that is easy to set up and use, provides helpful analytics, hosts a vibrant community of traders and supports a wide range of products.

tixee is making waves in the online trading industry with its social trading platform. The tixee social trading platform has been designed to make trading more enjoyable while offering new opportunities for traders of all experience levels.

Forex Social Trading Platforms

Social trading platforms have been popular for trading forex for almost a decade. Many forex brokers offer their clients some form of social trading. Forex is one of the most accessible yet challenging markets to trade, which are important reasons contributing to the popularity of forex social trading platforms.

As a strategy provider with tixee, you can trade from the comfort of MetaTrader 5, allowing you to continue using your favourite indicators and expert advisors. As a strategy follower, you can browse hundreds of active strategies and subscriptions to follow the ones that suit your trading style.

Crypto Social Trading Platforms

Social trading platforms for crypto are a much newer concept as cryptocurrency trading is a far younger market than forex trading. Despite the crypto industry being highly innovative and synergistic, few social trading solutions are available.

There are many technical challenges associated with providing copy trading features for exchange-traded products. As a CFD broker, tixee supports crypto trading on its social trading platform alongside many other asset classes.

On the tixee social trading platform, you can create or follow strategies involving Bitcoin, Ethereum, Stellar, EOS and NEO.

Risks of Social Trading Platforms

As with any form of investing, social trading presents several complex risks to understand and navigate. Not only are you entrusting a third party to manage your funds, but youre also basing your investment decisions on past performance – which does not guarantee future results.

A successful trading strategy today can fail over time as market conditions change. Many traders following strategies grow complacent or do not have the capabilities to monitor their strategy providers performance over time, meaning warning signs are missed.

As strategy providers grow a substantial following, their psychology changes over time, and they feel greater responsibility for losses and pressure to produce gains. The added stresses can lead to poor judgement and losses for all involved.

As a follower, you do not outsource the safeguarding of your investments; that will always be your responsibility. However, the tixee team is always on hand to help with any questions or concerns.

How to Participate in Social Trading

You can join one of the top social trading platforms the industry has to offer by signing up with tixee, a leading CFDbroker. If youre an experienced trader, you can enrol as a strategy provider and collect up to 20% performance fees when sharing your success with others.

If youre a trader or investor looking for new opportunities to potentially grow your wealth, you can browse a library of dozens of profit-generating strategies and start following.

All you need to get started is an activated and funded trading account with tixee. The company has created a collection of helpful video tutorials to help you get started. There are no additional fees to use copy trading features and its available to all verified customers.