The Best Social Trading Apps | Test & Reviews

Social trading is an innovative method of investing money. Within this market segment, more and more providers have established themselves on the market in recent years. Most brokers offer a good mixture of social trading and forex offers. Many people entrust their capital to one or more traders, who then take over the trading. But meanwhile there is also the possibility to trade yourself. For this purpose there are also numerous apps, which everyone can simply download to their smartphone or tablet.

The best provider in the field of social trading apps is eToro, which is also suitable for newcomers.

Nowadays there are a lot of platforms dealing with social trading. The basic principle is similar despite the different approaches. Therefore it’s always about participants making their investment decisions public and allowing others to follow them live. The Social Trading apps thus offer the clear advantage that trading itself can provide greater transparency.

Is fraud even possible?

Social Trading providers are active worldwide as brokers or even intermediaries. The active brokers in Europe often have their headquarters in Cyprus. In some cases also in Great Britain or Germany. There, the providers have received appropriate regulation. If the trading portal or app does not have a valid license, these are probably platforms that are not very reputable. Accordingly, you should make sure that the trading apps also have a license there. There is always a risk of loss when dealing with the trades.

Does the mobile offer have restrictions?

Often there are no restrictions with the Social Trading Apps. The traders can use the same functions in the apps as in the trading platforms. Even some deposits and withdrawals are possible there. In this case it often depends on the trading platform itself. The possible profits and especially all other facts that are important for trading are also offered in the apps. The apps can be easily loaded onto the mobile devices.

The selection of trading options in the app

Basically there are some mobile apps that allow trading on the go on the smartphone or tablet. The providers offer a form of download version or basically a web-based app where the user only has to go to the provider’s website. There, too, the user can simply log in with the account data and follow and set the trades. Highly speculative strategies often operate between the top traders. For this reason, some products should be considered while on the move, such as leveraged products, which can lead to losses. The term fraud is often used to describe high losses. The entire trading offer is therefore even available in the mobile apps, so that there is a certain amount of choice. Finally, social trading is possible across the entire investment spectrum. Anyone wishing to gain a foothold in social trading should also note that the apps do not always offer all the functions that are desired and with which one can learn.

Is there a kind of bonus with the Social Trading Apps?

Unfortunately, there is no form of new customer bonus in the Social Trading Apps, as you probably know it from other apps. Of course, customers can discover and use the one or other getting-to-know program for themselves. However, there is no targeted new customer bonus like in an online casino.

Conclusion: No fraud with serious Social Trading Apps

Serious social trading apps always have a license. This means that the companies are regulated and the security and seriousness is also given. If you are not sure whether the selected Social Trading App is a scam or a serious site, you can simply check the licensing.

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