Social trading is a form of online trading that has revolutionized the way people trade in financial markets. It is a type of trading that allows traders to follow the trading activities of successful traders known as “Providers.” The concept of social trading is based on the idea that traders can benefit from the expertise and strategies of successful traders, by following and copying their trades in real-time. This has made it possible for novice traders to learn from experienced traders and make profitable trades.
The success of social trading lies in the fact that it allows traders to learn from other traders, collaborate with them and even copy their trades. This makes it easier for traders to enter the financial markets, without having to possess years of experience and knowledge. It also makes it possible for traders to have a diverse range of trading strategies to choose from.
A “Provider” in social trading terminology refers to an experienced trader who shares their trading strategy with less experienced traders. These providers usually have a track record of successful trading and are willing to share their knowledge and expertise with others. Providers may have different trading styles, ranging from conservative to aggressive, and may use different trading instruments. They may also have varying levels of risk tolerance.
The concept of social trading allows providers to share their trading strategies with other traders in exchange for a percentage of the profit generated by following the strategy. This gives them an opportunity to earn additional income by leveraging their trading expertise. The more successful the provider is, the more attractive their trading strategy becomes to other traders.
Brokeree is a platform that specializes in social trading activity. The platform enables brokers to deploy their own social trading portal, which attracts a wider audience of traders. Brokeree’s social trading portal is a ready-to-use platform that can be customized to suit the specific needs of the broker. The portal includes a range of features, such as performance statistics, trading history, and real-time trading signals.
Brokers who use Brokeree’s social trading portal have the option of charging traders a percentage-based platform fee as payment for their services. This fee is usually deducted from the profits earned by traders who follow the trading strategies of the providers. The fee charged by the broker is a way of monetizing the social trading activity, and it can be a significant source of revenue for the broker.
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