Social Trading is Here to Stay! Here is What you Need to Know đđ»
đ„ Introduction to social trading
Surely you have heard of such a concept as social trading, which greatly simplifies life for beginners as well as experienced traders and investors. We are here to describe and show you in detail the features of social trading and present the most successful and convenient example of the realization of such functionality.
Social trading is a form of dealing that enables traders or investors to copy and execute the strategies of their peers or more experienced traders. Itâs often thought of as a type of social network, as the function enables traders to interact with others, watch each otherâs trades and learn about decision-making processes.
Here are a few key benefits of social trading for those who copy:
Can monitor trading 24/7 from any device, including mobile and web;
The experience or trading skills required to get started are significantly lower in comparison when not using this function;
Transparent transaction history and the ability to choose an experienced trader to copy according to your strategy preferences and risk appetite;
Automatic trade execution.
This list of the social tradingâs benefits is non-exhaustive. That's why many traders prefer to copy the trades and strategies of experienced participants in financial markets.
Social trading emerged as a result of the development of Internet platforms for trading in financial markets. Thanks to digital interaction, experienced traders can pass their order execution signals to other users, receiving a small commission for doing so.
The signal provider's benefit lies in his additional profit on trades, regardless of their performance.
A copying trader benefits from using signals from an experienced trader for a small commission.
In addition, trades in any available assets traded by the Signals Provider can be copied: currency pairs, commodities, precious metals, indices, stocks, and others.
NAGA provides a range of ways to get the benefits of social trading. It also offers a fully integrated social trading platform.
The primary benefits of NAGA's social trading include being part of a community that shares advice and trade ideas, establishing buy and sell signals for trades, gaining an awareness of market sentiment, and the automatic execution of trades.
To start social trading on NAGA you need to go to a special section, find a lead trader in the trading leaderboard, select the type of copying, set the parameters, and activate the functionality. Moreover, you can even start with a small deposit!
Social trading allows trading online but with the help and input of others, which many believe reduces the time it takes for a beginner to become an experienced currencies trader. Traders are also able to copy trades, allowing them to see which methods and strategies succeed and which fail. This way of trading has seen more people participate in the market and has led to more trades going through.
NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.
The website is operated by NAGA Markets Europe LTD which is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence No. 204/13. The registered address of NAGA Markets Europe LTD is Agias Zonis 11, Limassol 3027, Cyprus. Previous Domain: www.nagamarkets.com.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.
Restricted regions: NAGA Markets Europe LTD offers services to residents within the European Economic Area, excluding Belgium. NAGA Markets Europe LTD does not provide investment and ancillary services in the territories of third countries.
Affiliate programs are not permitted in Spain for the investment service commercialisation or client acquisitions by unauthorised third parties.
Los programas de afiliados no estån permitidos en España para la comercialización de servicios de inversión y captación de clientes por parte de terceros no autorizados.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.