Similar to social networks such as Facebook, and Instagram, Exness Social Trading was created for the purpose of serving automatic investment transactions. This is also one of the new methods that many traders are interested in. So in this article, let’s Learn Forex TradingLearn about it!
What is Exness Social Trading?
First, we need to clearly understand what Social trading (Social Investing) is. To put it simply, this is similar to a social network. But instead of posting images or content, professional traders will publish their trading orders so everyone can see and follow them.
Social Trading was originally created for the Forex exchange and is also most commonly used by this exchange. But later, because of its positive impacts, many forms of products such as bonds, stocks, etc. also began to innovate and reuse the same method.
This social network allows users to copy other trades, which are usually those of professional investors in the given network. Thereby increasing your chances of success instead of having to think too much.
Exness Social trading
It works to copy Forex trading orders on Exness. Along with using Metatrader, this platform helps new users or those unfamiliar with the market learn from experts. Or simply choose a safer direction when trading.
See more: Instructions for registering an Exness account
Exness Social Trading review: How it works
Exness trading can be used to perform a wide variety of transactions. As follows:
Use Exness Social Trading for “Copy Trading”
As mentioned above, users of Exness social trading can quickly access the market to view information. Professional traders will also share strategies there for other users to learn from. You can learn how to trade forex as a whole or individually as you like.
The Exness social trading platform has a feature that allows users to “clone” Exness copy trade. This makes it easier for users to cultivate and save more time.
Use Exness Social Trading for “AutomatLearn Forex Trading”
In addition to the above features, traders can follow other operators by choosing to “subscribe” to their channels. For example, when trader B follows expert A, all of this expert’s trades will be similarly copied to B. This is also called the “AutomatLearn Forex Trading” feature.
Benefits of using the Exness Social Trading platform
Each trader when Trading Exness will feel it brings its own benefits. And below we will point out the benefits for both experts and newbies.
With “experts”
For traders sharing experiences on Exness Social Trading, when your trading is successful and impacts similar results on others, you will enjoy status and money. Social Trading not only attracts new traders but also attracts many experienced traders. When they do well, they will become leaders in transactions on the exchange. It will contribute to building both the reputation and influence of the experienced trader.
New Traders
Accumulated experience
The best way to improve your abilities is to learn from better people. Using Exness Social Trading, you will be able to refer to the strategies of people who have achieved good results before. Based on observations, you will draw an effective trading plan for yourself.
Limit risks somewhat
This will happen when you are not sure about the effectiveness of the transaction. Referencing the word “player” can give you a hint of direction. Thereby limiting errors and avoiding big losses. Please also note that this will be more true for traders who do not have much knowledge. Because the loss rate of newbies is often high or very high. (Basically, experts are still traders, and traders will sometimes experience losses)
Why should you use Exness Social Trading?
Why do many traders love using Exness social and not other platforms? That is because of the following reasons:
Cost optimization
This is quite a big advantage of this social trading network. With traditional transactions, you have to pay commissions or some types of fees. This number can account for 10 to 20% of profits. If the profit is not high, after deductions, the money earned will be somewhat meager. However, it will be zero or very low when you copy someone else’s way of doing things. Because the original orders are usually already charged a commission, the broker will not charge you additional fees.
In addition, you also do not need to invest in too much professional equipment. A powerful, fast computer is also quite expensive. Once your transactions are automated, you won’t have to spend “all night” monitoring reports or experience lag during the “golden time”.
Exness Social Trading is transparent and clear:
Consulting from “virtual” financial experts online both lacks transparency and easy to lose money. Instead, refer to Exness social trading review which is much better. Because all transactions/orders of experts are completely public for you to exploit. Publicly available information includes how to play, risk level, type of product traded, monthly results, decline rate, etc.
You have complete control over the risks
Normally when you transact through an intermediary you will incur a fee. It is even difficult to control possible risks. Because most intermediaries will not disclose this to you. But with Exness Social Trading, you have the right to view the intervention history and even turn off the copying feature because all activities of the leader are under your control.
You don’t need to worry about losing money and having your account information leaked because Social trading does not require you to transfer money to anyone.
See more: Registering Exness broker account on your phone
Exness Social Trading review: Some disadvantages when using
Besides the benefits that Exness trading brings, it also has some potential disadvantages. Let’s see what those risks are to know how to adjust and limit them when trading.
Expert followers are also at risk
To put it simply, if you just put everything into the leader – any person, you will have a 50-50 ratio: win or lose. It will be a bit similar to betting. If the leader predicts the wrong result, you will be affected instead of them. In addition, the nature of social networks is highly directional, so sometimes new and inexperienced traders will easily get caught up in the crowd or be led by some crooks to create a different direction for the market.
Besides, even though there is no order fee, you will still be deducted a small fee for the expert.
Social Trading’s trading method is sometimes ineffective
Social Trading is often an environment for many financial companies to take advantage of promoting and calling for capital. If you are not wise, you will easily follow these objects. As a result, the investment is very large, but the interest rate is very small, even negative. Even though it is a safe exchange, not every post can be controlled due to variations in sophisticated criminals.
Withdrawal transactions on Exness Social Trading will incur fees
Although the fee is not too high, many people still think that this is a small limitation of Exness. Because when you want to withdraw money from the Social platform, you need to pay a fee before withdrawing. This fee depends on many factors, so please consider!
Conclusion
Above are some analyses of Learn Forex Trading about Exness social trading in general and Social Trading in particular. Hope this article will be useful for you. If you are looking for a forex trading platform with effective Social Trading, try Exness. Here all your transactions will be optimized with low costs and a market-leading reputation. You won’t need to worry about scams or unreasonable fee requests like other places. Hurry and register now!
