Social trading is a form of trading that has become increasingly popular in recent years. Among the many social trading forex brokers that are operating worldwide today, some are registered and regulated in the UK by the renowned Financial Conduct Authority (FCA). As most social trading brokers, these companies also offer their clients a dedicated social trading platform to use.
What’s unique about social trading platforms is that they all attempt to make trading easy enough for even complete beginners to understand it. Users on social trading platforms can easily browse other traders’ track records and then choose to automatically copy the trades made by the most successful traders - a strategy known as copy trading. In addition, these platforms often give traders the chance to see how other users on the platform are positioning themselves through a form of sentiment analysis.