It is a platform for all those people who make use of MT4. This platform is web-based and does not make use of any VPS services. The social trader tool analyses the market and makes predictions on the market movements. It is the name of an automated robot. And does not even make use of any kind of special software. It has easy to use configuration settings. It has a trade copier that works with an approximate speed of 50ms which avoids any kind of delays in the trade.
The signal provider’s pages have a long random code such that it cannot be guessed by anybody. With the help of this application, one can convert all the losses to profits by building a good strategy. It is a platform for all the brokers, moneylenders, traders, and even signal providers. It provides an option of real-time alerts by just ticking on one option. These are also called Expert advisors since these robots provide expert advice, exclusively to its users. It works on a prescribed set of rules and regulations.
Some of the best social trading tools are:
- Trading motion
How does social trader tool work?
It has been noticed that it requires experience to make use of this tool. It is useful amidst many people because of its multiple account sign-in option. Once the trader connects accounts to this platform, he is ready to go on a tour of social trading. You are required to use your style and logo of the brand which you want to trade-in. It collects history upon the past trading done in assets and then detects whether the value will rise or fall of the particular asset. And provides an option of auto mode that enables the robot to perform the trade in its capacity. It is optional to add a broker affiliate link. The price depends upon the number of accounts added. It is paid per month and 2 accounts cost $20 while 60 accounts go for $600. The price for 100 accounts is $1000.
Now, let’s take a closer look at the features, pros, and cons of using social trading tools.
FEATURES OF SOCIAL TRADER TOOLS
With the help of social trader tools, one can manage an unlimited number of accounts on MT4.
- It is hosted in the cloud 24/7.
- Supports a trade copier which is one of the fastest copiers in the market.
- It offers a signal page to share your trading account with other users.
- Provides an option of white-labeling the platform and offers the signals to one’s audience.
- It has an option of Sub Users which allows all the managers to name the teams.
- It has a reverse copy tool option which helps you to make profits when someone else is losing.
PROS OF SOCIAL TRADER TOOLS
- It has no limit on the number of accounts. Multiple accounts can be opened through a single sign up.
- It provides real-time email alerts to signal the user about any trading activity.
- It provides automated equity safety options to help secure your data.
- The risk is calculated dynamically.
CONS OF SOCIAL TRADER TOOLS
- Traders need to be careful while using it. Some are disguised to steal and deceive their funds.
- It provides no option of chatting and has very limited details of the company.
The social trader tool is a unique platform for all traders. One may find it interesting after using it for a certain period. Every tool has its pros and cons. It only depends upon the user how he is making use of it. Therefore, it is always recommended to make use of such applications wisely. The social trader tool provides accurate results every time it is used. It does require an initial deposit of 250 dollars to start with this tool. This amount is not low enough that a user would not regret it after using it. Therefore, work accordingly and make the most out of it. Always choose a proven system before starting with your business. There are multiple tools available for social trading, read their reviews, and select the best one.
I hope this information about the social trader tools was helpful enough to guide you all.