Best Social Trading Platforms in Australia 2022


Social trading platforms have become increasingly popular in recent years, as more and more people look for ways to trade the financial markets. Social trading platforms offer investors the ability to copy the trades of other successful investors, and to learn from their strategies. In this article on AtoZ Markets, we will explore social trading platforms in Australia.

Best Social Trading Platforms in Australia

There are a number of social trading platforms available in Australia, and choosing the right one can be tricky. In this article, we'll take a look at some of the best social trading platforms in Australia, and what they have to offer investors.

- eToro

- Pepperstone

- AvaTrade

- Vantage 

- Axi

eToro Social Trading 

eToro is one of the world's leading social trading platforms, and it offers investors in Australia access to a wide range of markets. eToro's Copy Trader feature allows investors to automatically copy the trades of other successful investors on the platform.

etoro logo

image credit: eToro

eToro is regulated by the Australian Securities and Investment Commission (ASIC). eToro is also regulated by CySEC, FCA and FinCEN.

If you're looking for an online platform for trading that has a variety of features that are easy to utilize, eToro is a great alternative. 

eToro provides a variety of features that include:

CopyTrader: This feature allows you to copy trades of traders on eToro.

Live Chat: Live chat lets users communicate to other traders on eToro.

WebTrader: This feature allows you to trade straight from any web browser.

Mobile trading: The feature lets you trade on the move from your smartphone.

eToro also provides exceptional customer service, as well as a vast selection of choices for support. If you are having issues it is possible to reach customer support through live chat, via email or by phone.

How Can We Begin Social Trading on eToro?

If you're interested in social trading with eToro it is the initial step to sign up for an account. This can be done by going to the eToro website and clicking"sign up" or the "sign up" button.

Once you've created your account, you'll have to transfer funds in your accounts. This can be done using a credit debit card, credit card, or by bank transfer.

Once you've deposited funds in your account you're able to start trading socially! To start this, you'll need to search for another investor on eToro and replicate their trading strategies. Chat to other investors via eToro and gain knowledge from their experiences.

What is the Minimum Deposit On eToro?

The minimum deposit for eToro will be 200 dollars. This is a minimal deposit when compared to other platforms for social trading.

After you have transferred money in your account you are able to begin trading on social networks! To start this, you'll need to search for another investor on eToro and duplicate their trades. It is also possible to chat among other investors using eToro and gain knowledge from their experiences.

What are the Fees on eToro?

eToro has a charge of 25 dollars for withdrawals. This is a fairly low cost compared to other trading platforms on social media.

eToro  spreads start from 1 pip and provides leverage up to 1:30. eToro doesn't charge commissions on trades. This is an advantage over other platforms for social trading that have commissions.

Which are withdrawal limitations on eToro?

The limit for withdrawals on eToro can be set at $50,000 per day. This is a very high amount when compared with other trading platforms.

If you are having issues If you have any issues, you can contact customer support by live chat or email or by phone.

If you're interested in social trading with eToro, the initial step to take is sign up for an account. This can be done by following the link below:

Trade Forex with eToro

AvaSocial of AvaTrade

AvaSocial

image credit: AvaSocial

AvaSocial lets users replicate the trades of successful traders. It's run by Avatrade who has been Europe's top forex brokers since.

AvaTrade is licensed and regulated in several jurisdictions, including CySEC, ASIC, PFSA, FSC, JFSA, FRSA, and ISA.

Best Social Trading Platforms in Australia 2022

The Benefits of AvaSocial of AvaTrade

- AvaSocial is an online platform that lets users connect with traders who have been successful and mentors across the globe. It is possible to learn from them, and take their example.

- AvaSocial lets you build an open and transparent network of traders that share similar interests and who can trade information with you. This will give you direct access to markets and opportunities.

- AvaSocial offers real-time signals for trading to ensure you stay at the pace of your competitors.

You can post your most successful trades to your followers and friends on social media and earn points on trades you complete every single day.

How Do I Start using AvaSocial?

- Download the AvaSocial App to create an AvaSocial Account

- Login to AvaSocial by using the login details for MT4

- Fund your account

- Begin replicating other traders' strategies by selecting the type of financial instrument you like.

What is the Minimum Deposit at AvaTrade?

AvaTrade requires a minimum investment of $100. If you wish to trade using AvaSocial then you'll require at least 500 dollars in the account.

What are the costs for AvaSocial or AvaTrade?

Spreads AvaTrade has floating spreads starting at 0.8 pip. Commission The company does not charge commissions for trades.

Overnight Fee: A fee for overnight will be charged if you keep an overnight position. The amount is calculated using the difference in interest rates in the currencies that are involved in.

Also Read: Best Forex Brokers in Australia 2022

Which is the withdrawal limit on AvaTrade?

The minimum amount for withdrawal is $50. The maximum amount for withdrawal can be $10,000 for each transaction.There are no charges for withdrawals.

If you're in search of an online trading platform that is social in Australian then AvaSocial is certainly worth a look.

Want to trade with AvaSocial? Open an account with AvaTrade with the following link:

Copy Trade with AvaSocial

Pepperstone Social Trading

Pepperstone is an Australian forex broker, and has several different social platforms for trading. They are myfxbook, MetaTrader Signals, as well as DupliTrade. All platforms permit traders to duplicate trades of other traders who are successful.

Pepperstone is regulated by the Australian Securities and Investment Commission (ASIC) and the broker is also regulated by FCA, DFSA, CySEC and SCB.

AutoTrade Powered by myfxbook

AutoTrade of myfxbook is partnered with Pepperstone. Myfxbook's AutoTrade offers a wonderful solution for traders with a busy schedule looking to enhance their trading abilities and do not need to utilize any program.

AutoTrade lets you duplicate the trades of most popular forex trading platforms and aids in improving your performance.

AutoTrade from Myfxbook is a great tool for traders who want to use forex to enhance their abilities. It offers accurate data and lets you decide the systems that are copied.

MetaTrader Signals on Pepperstone

On Pepperstone, you can also use MetaTrader Signals to automate your trading.

MetaTrader Signals can help you:

- Diversify your trading strategies by employing a variety of strategies.

- You can lower risk in your portfolio when switching signals companies which employ different strategies.

- Get rid of the need to keep charting of monitoring

- Reduce costs The MT4 signal fee is typically free or low.

- There is no need for paperwork to speed up the process.

- You are in complete control of your account. Close trades, change the capital allocations for strategies, alter stop-loss settings, or eliminate the strategy.

DulpiTrade on Pepperstone

Pepperstone is also partnered with DupliTrade to provide social trading.

DupliTrade, a social trading platform, allows users to automate trading.

DupliTrade makes use of signals from experienced traders in order to increase your knowledge of trading and gain an understanding of the most effective strategies.

In DupliTrade the requirements are an initial minimum of $5,000 using Pepperstone. You'll be able to access DupliTrade's large collection of top-rated strategy providers. These will be traded automatically through your account in MT4.

You can try out strategies using your demo account, if you are still learning about the markets.

What is the minimum deposit of Pepperstone?

The minimum deposit required for the Pepperstone account is 200. To make use of the trading platforms on social media you'll require at least $5,000.

What are the costs on Pepperstone?

Pepperstone offers low fees. For foreign exchange, Pepperstone charges a commission of $3.50 per round turn of a lot (0.7 pip) or employs a spreads plus commission system with an all-in price of 0.0 pip plus $3.50 for each lot turn.

Pepperstone is an excellent option when you're looking for an online platform for trading which operates in Australia.

If you want to give it a try with Pepperstone, you can use the link  below:

Copy Trade with Pepperstone

Vantage Social Trading 

Vantage provides social trading through myfxbook, ZuluTrade, and DupliTrade. It permits its users to duplicate trades created by traders who are not their own.

Vantage is licensed and regulated through Australian Securities and Investment Commission (ASIC). Vantage is also regulated by FCA and CIMA.

ZuluTrade on Vantage

ZuluTrade review

image credit: ZuluTrade

ZuluTrade lets you replicate trades that have been made through other traders. With more than 800,000 registered users ZuluTrade is one of the most popular online trading sites. ZuluTrade requires a minimum of $50 deposit to establish an account.

ZuluTrade provides a wide range of options and features to assist traders to succeed. It has the option of a demo account, which allows novice users to experience the platform before committing to use it. For experienced traders, the features and services are specifically designed for Australian investors.

AutoTrade Powered by myfxbook on Vantage

Vantage is also partnered with myfxbook to provide social trading facilities. 

Myfxbook's AutoTrade is a fantastic solution for traders with a busy schedule looking to enhance their trading abilities and not need to utilize any other software.

AutoTrade lets you replicate the trades of best forex trading systems and assists you in improving your performance. AutoTrade from Myfxbook is a great tool for forex traders seeking to increase their knowledge. It gives accurate information and lets you control the systems that are copied.

DupliTrade on Vantage

DupliTrade

image credit: DupliTrade

DupliTrade is a social trading platform that allows traders to be automated in their trading.

DupliTrade makes use of signals from experienced traders to assist you expand your knowledge in trading and develop an understanding of the most effective strategies.

In DupliTrade the requirements are at least $5,000 in Pepperstone. You'll be able to access the extensive collection of DupliTrade's leading strategy providers. These will be traded automatically through your account with MT4.

What's the deposit limit for Vantage?

The minimum deposit threshold is different based on the type of account. For STP Standard accounts the minimum amount is $100. In Raw ECN accounts the minimum deposit is $500. In Pro ECN accounts, the minimum deposit amount is $10,000.

What are the Costs for Vantage?

If you have Standard STP accounts there is no commission. If you are using Raw ECN accounts there is a commission of $3 for each lot. In the Pro ECN accounts, the commission will be $1.75 per lot.

You can try out strategies with your demo account, if you are still learning about markets. Also, Vantage is a great platform for social trading for Malaysian traders.

They are among the most renowned social trading platforms in Australia. Each platform has its own strengths and flaws as you can see. It is essential to choose the platform that is best suited to your needs and goals.

If you want to give it a try with Vantage, you can use the link  below:

Copy Trade with Vantage

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Axi Social Trading 

Axi copy trading is a great way to trade forex without having to do any of the work yourself. Axi is partnered with myfxbook AutoTrade to provide copy trading  services. All you need to do is sign up for an account with myfxbook and then connect it to your Axi account. From there, you can choose which signals to copy and the software will do the rest.

Axi is licensed and regulated by the Australian Securities and Investment Commission (ASIC). They are also regulated by DFSA, FCA and FSA.

AutoTrade Powered by myfxbook on Axi

AutoTrade Powered by myfxbook

image credit: myfxbook

AutoTrade Powered by myfxbook is one of the largest and most respected social trading platforms in the world. Over 25,000 members have connected their accounts to copy signals from more than 10,500 systems. There are 247 systems available for live trading, and all results are verified by myfxbook.

Each system has detailed statistics and analysis, so you can make an informed decision about which ones to copy. You can choose to copy all trades or only profitable ones, and customize your risk level for each signal. 

Axi copy trading is a great way to trade forex without having to do any of the work yourself. Axi is partnered with myfxbook AutoTrade to provide copy trading  services. All you need to do is sign up for an account with myfxbook and then connect it to your Axi account. From there, you can choose which signals to copy and the software will do the rest.

What's the minimum deposit for Axi social trading?

Axi provides social trading with AutoTrade Powered by myfxbook and Myfxbook's minimum deposit is $1000.

What are the Costs on Axi?

Axi doesn't charge any commission in their standard account but in their pro account, there is a commission of $7 per standard lot.

These are just a few of the many social trading platforms available in Australia. When choosing a social trading platform, it's important to consider your investment goals and objectives, and to select a platform that offers the features and services that you're looking for.

So, you want to get into social trading? 

Social trading is a fantastic way to invest in the financial markets, and it can be a great way to make some extra money. But before you start trading, there are a few things you need to know.

If you want to give it a try with Axi, you can use the link  below:

Copy Trade with Axi

What are Social Trading Platforms?

Social trading platforms are websites or apps that allow investors to copy the trades of other traders. These platforms provide a community of traders that you can follow and copy, and they also offer tools and resources that can help you make better trading decisions.

When you copy a trade, you'll enter into the same trade as the trader that you're copying. So, if they buy shares in Company A, you'll also buy shares in Company A. And if they sell their shares, you'll sell your shares too.

The amount of money that you invest in each trade will be based on the amount of money that you have in your account. So, if you have $100 in your account, and you're copying a trade with an investment of $10, then $10 will be taken from your account and used to buy the shares.

Most social trading platforms will allow you to trade a variety of assets, including stocks, forex, commodities, and cryptocurrencies. And many of these platforms also offer other features, such as news feed wants, analysis, and education resources.

How Social Trading Platforms Work?

Now that you know what social trading platforms are, let's take a look at how they work.

When you sign up for a social trading platform, you'll be able to see the trades that other traders have made. You can then choose to copy those trades yourself, or you can use the information to make your own trading decisions.

Most social trading platforms will allow you to set up your account so that it automatically copies the trades of other traders. Or, you can manually select the trades that you want to copy.

When you copy a trade, the social trading platform will take the money from your account and use it to buy or sell the assets that you've selected. The amount of money that you invest in each trade will be based on the amount of money that you have in your account.

The social trading platform will then hold those assets in your account until the trade is closed. When the trade is closed, the platform will either sell the assets for you or return them to your account. And then, once the trade is closed, you'll either make a profit or a loss.

How to Choose Social Trading Platforms in Australia?

When you're choosing a social trading platform, there are a few things you need to consider. 

Assets: The first thing you need to consider is what assets you want to trade. Most social trading platforms will allow you to trade a variety of assets, including stocks, forex, commodities, and cryptocurrencies. 

So, if you're only interested in trading one type of asset, make sure that the platform you choose offers that asset.

Regulations: The second thing you need to consider is regulation. Social trading platforms are regulated by the financial authorities in the countries where they operate. 

So, if you're looking for a platform that's regulated by the Australian Securities and Investments Commission (ASIC), make sure that the platform you choose is based in Australia. 

Fees: The third thing you need to consider is fees. Social trading platforms typically charge a commission on each trade that you make. So, if you're planning on making a lot of trades, make sure that the platform you choose has low commissions.

Customer service: The fourth thing you need to consider is customer service. Social trading can be complex, so it's important to choose a platform that offers good customer service. That way, if you have any questions, you'll be able to get help from someone who knows what they're doing.

Features: The fifth thing you need to consider is what features you want. Most social trading platforms will offer features such as news feed, analysis, and education resources. 

So, if you're looking for a platform that has all of those features, make sure that the platform you choose offers them.

Best Social Trading Platforms in Australia 2022

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