Online trading has continued to rise in popularity due to the introduction of new innovative features by social trading platforms. These features are meant to enhance interactions between traders as well as enable beginners to mimic the movement of lead traders.
Though it sounds easy enough, it does become a bit confusing on which online trading platform to go with. Therefore, for the best trading services, ensure you find the right social trading platform that offers valuable insight and guidance to help you hone your investment strategy.
What is Social Trading?
Social trading is a form of investment strategy that simply involves mirroring another investor’s trades. Known to have gained popularity in 2010, social trading is done through social trading platforms and follows the principles of social media.
These principles are communication, exchange of knowledge, partnership, and mutual help. By using these principles as a trader you get to easily check out other traders’ activities, and learn from them so as to enhance your own investment knowledge. Also, you can implement those same moves in your portfolios.
How Does Social Trading Work?
Social trading works by bringing beginners and experienced traders together into a common platform where they can share trading strategies and ideas. This means it is different from copy trading where you simply click a button and copy another investor’s entire portfolio.
With social trading, you get to search for different traders that fit your investment capital, goals, desired assets, and risk tolerance. All this is possible by studying the trader’s activity, interacting with them, and asking questions before deciding which trader’s strategy you want to adopt.
Keep in mind; that you can either use a comprehensive social trading platform like NAGA or search for individual traders from different platforms to mimic. However, make sure you find a good trader to copy their strategy so as to avoid incurring any major losses.
Also Read: Take the Best Plans From Trading Tutorials
Why Choose Naga as Your Social Trading Platform?
NAGA is a public listed social trading platform that allows clients to trade, invest, interact, as well as copy strategies from experienced traders on the platform.
The social trading platform offers 950+ trading instruments which include cryptocurrency, Shares, EFTs, and Stocks among others to its more than 1 million registered users.
This enables the investors to trade in different instruments, and interact with other traders which enable them to gain bigger exposure in the trading market.
The platform also allows Copy- trading as well as adjusting your auto-copy ratio. They offer real-time order execution and free daily news and copy trading signals from selected providers. Offers easy-to-use investors leaderboard, provide traders with a personal account manager who is available via phone, text, or email and allows traders to have multiple currency accounts.
What are Naga’s Top Features?
NAGA offers some great features to its users. Here are the top features for NAGA clients to take advantage of.
NAGA Autocopy is one of the best-known features of NAGA. An easy-to-use feature, the Autocopy allows beginners to automatically copy professional investors’ strategies or mirror their actions in real-time with a price execution guarantee.
This simply means the feature enables you to follow someone else’s trades, and understand their trading behavior allowing you to trade when they trade.
NAGA is another top feature that includes a VISA debit card, brokerage account, crypto wallets, an IBAN account, and a copy trading feature. Recognized globally, the NAGA Pay app is accepted by European Economic Area (EEA) and the UK as well as over 140 million merchants across the world.
The NAGA Pay is a single money app available on both Android devices and iOS which allows its users to make bank transfers and send funds to family and friends within the app network.
What’s more, the app allows users to invest in trading instruments like ETFs, crypto, stocks and others.
NAGA Popular Investor
The NAGA Popular Investor allows NAGA’s best traders to share their trading strategies and portfolios with other traders. When the other traders copy their content on the NAGA platform, the trader gets paid a monthly fee of up to $100,000 from the Popular Investor’s Fund.
As mentioned early, social trading platforms have opened entirely new possibilities to online traders, and NAGA is not left behind. Due to its dedication to its ever-growing traders, NAGA is one of the best online trading platforms for both beginners and professional traders