If you are running an account management service where you manage 5 accounts, it would cost you $60 per month in order to manage these accounts. Considering the platform is the backbone of the entire business, it does make sense that they charge a pretty aggressive fee. Compared to other trading platforms, Social Trader Tools’ pricing is relatively affordable, especially for novice traders who may not be able to afford more expensive options. With so much interaction between members on The Social Traders’ discussion tools, such as Slack and Telegram, this category earns a solid 5 out of 5. Both free and Pro members commented on how like-minded and helpful the rest of the community is and how much growth is encouraged among all traders. The Social Traders provides a highly supportive atmosphere for everyone on the platform.

Currently, the Social Trader Tools platform advertises 12 significant features that they want the community to be aware of. There are no limits for the amount of MT4 accounts that can be managed, it’s a web-based interface, which requires no hosting and provides peace of mind. The platform can be accessed by multiple users, which means you can have the signal service or account management service being run by multiple people.

Social Trader Tools has given us the tools to allow us to focus on our core business. You would still only be having to open, manage and close positions on your personal trading account. Meanwhile, Social Trader Tools is copying your trades onto all of your funded accounts which will massively increase the amount of profits you take out at the end of each month – if you’re profitable, of course.

By having a trade copier at your disposal, you’re able to spread risk different across multiple accounts leading to potentially much better diversification and results. For example, the majority of forex traders are going to use 1% risk per trade, potentially moving up to 2%. Manual error is one of the largest causes of loses with forex traders, mostly in the retail sector.

You can sell signals, send email alerts, push events, share accounts and even give traders the opportunity to copy your trades directly. While this certainly isn’t for your average trader, this does give advanced traders the ability to start their own service and provide the community with account management, trade copying or Forex signals. Everything comes across as professional and seamless, but I do recommend that anyone interested in the platform applies for a demo so that they can see if this fits their requirements. When it comes to the signal providers, there is a built in signal page.

Overall, these features and tools can help traders make more informed trading decisions and improve their overall trading performance. The Social Traders is an online collaborative trading platform that connects investors with other investors. Offering a wide variety of free resources on the program’s most basic tier, it’s an informative and inclusive platform for traders of all experience levels. Three tiers are offered for traders with different interests and budgetary requirements. You could keep your main account on 1% risk, then have copier accounts running 5-10% risk, on much lower capital. Although they are much higher risk, they will only amount to a small percentage of your portfolio and be running completely automated.

• Let alone the fact that having the process fully automated is going to save you a huge amount of time everyday – especially if you have 4 or 5 accounts on the go at once.
• You’ll never be competing with other signal sellers as there isn’t a dashboard comparing all providers, you will just have your own landing page displaying your stats.
• Take advantage of the Slack discussion board or the Community Telegram channel (Telegram Messenger) to connect with other like-minded traders.
• If you have any experience with this platform please do drop a comment down below – I’d love to hear your experiences.
• Both free and Pro members commented on how like-minded and helpful the rest of the community is and how much growth is encouraged among all traders.

The support staff is knowledgeable and responsive, and the online resources are helpful for users who need assistance getting started with the platform. This really is a great tool for fund managers and traders looking to take on more trading accounts. In short, Social Trader Tools is a great platform for traders looking to utilise a trade copier and have all of their accounts in one place. You can register your account to be a signals provider, which gives you your very own URL/landing page. Investors will be able to see your results and add their accounts to follow your trades if they’re happy with your trading results. Used it for a month with only two accounts (master and slave), then I upgraded the plan and added one more account BAD MISTAKE!

The Social Traders receives a customer service ranking of 5/5 due to the overwhelmingly positive feedback from members, who remarked that the owners of the platform (Dylan and Max) are helpful, knowledgeable and approachable. Users stated that their questions are always answered in a timely manner and praised the fact that direct contact is easy and encouraged on the platform. The Extended Market Breakdown service is only accessible to Pro members and offers comprehensive overviews of both the 2020 and 2021 markets. This service features weekly videos of setups to be traded during the week ahead, which have been forecasted well in advance. Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders. Social Trader Tools has no reviews on either platforms, which is rare and almost slightly worrying.

As you can see from the video above, setting the trade copier up is extremely quick and simple. The web interface makes it so easy to setup in minutes and you’re able to log in from anywhere in the world and check on the status of the copier accounts, add and delete accounts and monitor risk settings. The most horrible customer service I have ever seen in my life. Generally, I hardly leave any negative review for any business as myself am a business owner in London and I know how terrible it is when someone leaves a negative review for your business.

Forex Copier is currently helping over 5000 traders worldwide copy their trades automatically onto other broker accounts, prop firm accounts and investor accounts. When Social Trader Tools worked it seemed to work properly and i had no complaints but today i noticed that it hadn’t copied any of my trades. I contacted customer service only to be told that no trades were placed on my accounts. That was the problem as of course i had placed trades otherwise why would i contact them about my trades not being copied. Overall, Social Trader Tools provides good customer service options for users who need assistance or have questions about the platform.

MT4 Copier, created by Rimantas Petrauskas is the worlds leading forex trade copier, allowing multiple master accounts to copy trades to unlimited copier accounts instantly. With so many features available to members of all tiers, The Social Traders is an excellent online collaborative trading platform. Whether you’re just starting out in the world of trading or are simply seeking community with other traders, this platform offers a range of helpful tools and collaboration boards for those of all skill levels. Overall, Social Trader Tools offers a straightforward and user-friendly interface that makes it easy for traders to access the tools and features they need to make informed trading decisions. The platform is well-suited for both novice and experienced traders. As professional money managers we required a platform to manage our trading accounts and risk effectively.

Pro members receive updates, analyses and trade ideas throughout the day straight to their mobile device. Little information is provided about The Social Traders app — though nothing negative has been reported. An easily accessible dashboard offering an array of tools to maximize strategy for both free and Pro members. The Foundation Series is free and includes an introductory overview as well as what you’ll learn — documentation of the trading journey, Tradingview setup and drawing market structure and market phases, to name a few.

Social Trader Tools is by far the most advanced & simple-to-use software that is out today for traders. Whereas, with Social Trader being a completely cloud hosted platform, there’s no additional costs for hardware or VPS providers to worry about. Traders running signal services or managing investors funds are more likely going to need the premium package, which covers 20 accounts for $220.