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Social trading is a form of investing that allows investors to observe the trading behavior of their peers and expert traders. The primary objective is to follow their investment strategies using copy trading or mirror trading.
What is social investment platform?
The platform allows ordinary individuals to initiate their investment journey without taking any risk and get rewarded for building the best investment portfolios. Best performing traders and investors win award money, gaining followers and become popular socialising their investment strategies and thesis.
The way social trading works from your perspective is simple. In the platform of these brokers you just search among other traders who share their strategy, trading ideas, and historical performance. After you find the most suitable trader for your needs you can replicate their activity by one click.
What was the first trading platform?
Nasdaq
The first widespread electronic trading platform was Nasdaq, an American stock exchange.
Social investment is the use of finance to achieve a social, as well as a financial return. Money is provided by investors who want to see it paid back and see that it has been spent on making society better. Social investment provides finance to build an organisation’s long-term capacity to achieve its social mission.
How social media is transforming the trading world?
Being involved in social media gives traders a way to have their fingers on the pulse of how their target customer and existing client base react to certain news or market events. When a trader can do this while the competition lags on their digital transformation, they can gain the advantage.
Social Trading is a form of investing that allows investors to observe the behavior of experienced traders and follow their investment using a form of copy strategy or mirror trading. This means of trading requires little or no knowledge of the markets in which it operates, as a trader’s experience is used.
Who introduced online trading?
Geojit Securities was the first to go online. On February 1, 2000, the National Stock Exchange (NSE) opened up the internet-based trading system for its members, the first stock exchange in India to do so. However, after two years of trading, only a dozen brokers continue to remain ahead in offering online service.
Social finance is a category of financial services which aims to leverage private capital to address challenges in areas of social and environmental need. Unlike philanthropy, which has a similar mission-motive, social finance secures its own sustainability by being profitable for investors.
What happened to social Trade Biz?
Every associate or customer of social trade biz was happy on the kind of service they are getting from socialtrade.biz or from the frenzzup or Ablaze. But from the earlier February 2017, everything is messed up when complaints raised up on this company and when the man behind this company Anubhav Mittal got arrested by police.
Social trading allows traders to trade online with the help of others and some have claimed shortens the learning curve from novice to experienced Forex trader.
What is the case of social trade?
Social Trade was accused of scamming 3700 crores rupees from 7 Lakh People of India. The case was filed by STF (Special Task Force) under PMLA (Prevention of Money Laundering Act, 2002). Police seized 500 Crores from 14 bank accounts of Social trade and property of Mittal worth of 64 crores.
One of the first social trading platforms was eToro in 2010, followed by Wikifolio in 2012. Europe-based NAGA, listed on Frankfurt Stock Exchange since 2017, claims more than EUR 27 billion was traded on its platform in the second half of 2019.