Exness just launched social trading in March. And instantly, it has got a lot of attention from traders around the world. Actually, social trading isn't something new in the forex world. We are so familiar with copy trade of MQL5, Etoro, Zulu Trade... So, what makes Exness social trading better?
I must say that Exness social trading is nothing like other social trading platforms. They created themselves a platform and set their own rules. It doesn’t follow any rules, conventions that you were familiar with. For me, these changes are simpler and easier to practice than others. Their platform target at true investors who don't need to know how to trade but they can apply their investing strategies as stock trading.
I believe that you have heard of this phrase before. If you're still wondering what it is, let us give you the answer. Social trading is the action of observing other traders' trading activities (usually experts or professional traders) and copying what they do in order to make the same amount of profits. This type of investment is also called copy trade or mirror trading. There are many forex brokers who design a whole separate platform for social trading. Investors can go there to choose a trader they like and copy his/her strategy. The trader, in exchange, gets commission if they make profits.
To start social trading with Exness, you need to go to the shared trading platforms of this broker. Like other shared trading platforms, Exness social trading platform is full of strategy providers as well as ranking tables for copiers to find out what they want easier. However, Exness gained some experience from other preceding brokers and made their shared trading platforms a lot better. Let's take a look at the advantages of Exness platform:
Exness social trading platform is very simple. They target at investors who only have money but don't know how to trade. That’s why Exness platform is also different from others. It doesn't show too detailed information of strategy providers (strategy) such as: equity, Stop Loss, Take Profit...
Investors only care about risk and profit rate. Investment strategies are to balance risk and profit.
Exness has over 40,000 monthly active clients. And most of them are big and experienced traders (that's why these 40,000 traders have contributed around $400 billions in terms of trading volume monthly) so there are many quality strategies for you to copy.
We all know that the number one investment rule is to never put all your eggs in one basket. Exness understands that so it offers investors a very wide range of forex trading strategies to choose. Moreover, understanding that each trader will choose a strategy based on different factors, Exness has up to 6 distinguished filters for followers to decide which strategies they want to choose. The 6 filters Exness provides are:
We here at BRKV believe that you should definitely follow multiple strategies at the same time to avoid the risk of losing all of your money. The factor that investors depend on the most are profit rate and risk score. We strongly agree that the risk score of a strategy should be the highest priority to you.
It is very weird, isn’t it? Every trader knows that the minimum position volume is 0.01 for the top best forex brokers! But Exness social trading accounts don’t limit this! You can even copy position as small as 0.000000000001 lot USD.
This is the best advantage because sometimes, investors just want to test their investment strategies first. So, they want to invest only a little money at the beginning, while Exness traders tend to deposit big amount of money. So, if Exness limits the minimum volume, investors cannot copy 100% their followed strategies. And if so, sometime it leads to loss if investors can’t copy those positions. So, this is a remarkable feature that is highly appreciated.
Check more Exness copy trade
So, what is the principle of the copy? The copy is based on equity rate. If the strategy equity is $10,000 and your equity is $100, the copy rate is 1:100. It means that if the strategy opens a 0.01 lot, the copy is 0.0001.
What are the differences between Exness traders and other social trading platform traders? For me, Exness strategies are much better and safer, because of the trading purpose. For other social trading platforms, the traders’ purpose is to be at the top of the ranking list and get money from investors who follow their strategies. So, they have many ways to cheat investors. They will do many shady things to keep their strategies nice and attractive until they’ve got Stop-out. And then they will create new strategies. Actually, each trader will create hundreds strategies until their strategies reach the top. Check to see if Exness has scams.
And the winner will get a lot of money from being at the top. Vice versa, at Exness, traders trade because of their trading profit. The current 40,000 active clients are real traders. Their top purpose of creating account is for trading, not for selling their strategies. So, they tend to deposit more and trade safer. Their main income is from their trades. That's why they are more careful when making trading decisions. So, most of them won’t cheat investors by open many strategy accounts. They just have 1 - 2 accounts for trading for years.
Check Exness Unlimited Leverage.
Many traders have complained to me that Exness social trading platform is not as transparent as others:
As I said earlier, Exness wants to build a social trading platform for only investors who don't know how open a position, or things like take profit, stop loss... Investors know investing strategies which is balancing between profit and risk. They will create themselves investment portfolio by copying strategies.
See the list of strategies