Social Trading USA – updated Nov-18
What is Social Trading USA?
Simply, social trading is where you can copy other traders trades automatically. On many of the leading social trading platforms you can find the more successful traders, analyse there past performance and then copy some or all of there trades. The social trading platform will do this all automatically for you and you can stop at any time depending on your strategy.
For further information on social trading and related topics, please see here.
Unfortunately, social trading isn’t allowed for US residents currently, however we’re hoping that this might change in the near future. There are discussions at a high level within SEC around CFD trading, so please check back here to get the latest.
So how come I can’t trade on a social network right now? Well, this is because the main regulatory board – SEC (U.S. Securities and Exchange Commission) has prohibited this type of trading due to the way social trading platforms execute trades. On eToro for example, a user trades using CFD (Contracts for Difference) and this form of trading is currently not allowed.
Social trading USA alternative
So it’s not social trading, but it’s a solid alternative for those who want to trade. FOREX.com is largest and most trusted FX trading platforms in the US, where you can trade currency, metals and futures markets but without being able to copy other traders. That said, this shouldn’t a be problem for most people who can read the markets themselves. It’s free to sign up and you also get a free demo account to practice on with no obligation before you trade for real. As an alternative it’s actually a really good option.
- Highly Regulated
- Competitive pricing
- #1 US FX Broker
- Award winning platform