Social trading is a process in which an online investor relies on user-generated financial content obtained from many websites as their primary source of information for developing strategies and making financial decisions. This enables investors to analyze financial data by comparing and duplicating trades and approaches. Social trading allows traders to trade online with the assistance and input of others, which many feel reduces the time it takes for a novice to become an expert professional trader. This is because users can engage with others, study and analyze other people’s transactions, and observe top performers’ tendencies. Traders can also duplicate transactions, allowing them to discover which approaches and strategies work and which do not. This kind of trading has increased market participation and resulted in more deals being completed.
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The study on the global social trading market includes segments such as type and end-user. The market is divided into three types- single trade, copy trade, and mirror trade. Further, based on end-user, the market is divided into two segments- individual and enterprise.
Key Trends and Social Trading Demand
Social trading through one platform has become one of the most current innovation at the intersection of financial applications and information technology. Additionally, mobile trading apps have simplified the lives of traders and stock brokers. Mobile trading has grown in popularity among young traders since it has made the overall trading process more efficient. Thus, the social trading platform market is likely to be driven by increasing mobile users. However, regardless of how simple it is to open a trading and investing account, individuals who want to see their portfolio develop need to have both a technical grasp of what various financial products are and how to trade them. To address this knowledge gap, online trading platforms have created a variety of instructional programs to help beginner traders acquire the facts and information required for trading and investment success.
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Besides, a number of prominent financial institutions are increasingly eager to create their own social trading platforms in order to attract and keep new consumers. TradeSocio is a cutting-edge company that provides mobile and desktop social trading and robo-advisory systems to banks, brokerage houses, and fund managers, who then market them to consumers ranging from those investing £10 to those with significant wealth. Due to all such factors, the global social trading market is anticipated to grow at a significant CAGR of 15.6% during the forecast period (2024-2031), according to OMR Research.
Recent Developments
Eva Trade Ltd., Instant Trading Ltd. (BVI), iSYSTEM AG, eToro AUS Capital Pty Ltd., MetaQuotes Ltd. (MQL5 Trading Signals), PrimeXBT Trading Services LLC, and Zulu Trade are among the key players contributing substantially to the expansion of the worldwide social trading business. To increase their footprints in the global marketplace, these firms are employing various growth methods such as investment in technological improvement, mergers and acquisitions, partnership, and cooperation, among others. Some of the recent developments in the market include-
- In January 2023, InvestSky, a social investment platform, has begun operations in the GCC after obtaining $3.4 million in a pre-seed fundraising round headed by Saudi venture capital firm Emkan Capital. Through its app, which is accessible on both Google Play and Apple’s App Store, InvestSky enables users to exchange-traded funds and trade more than 5,000 stocks on the New York Stock Exchange and the tech-heavy Nasdaq index.
- In December 2022, Vantage (or “Vantage Markets”), a multi-asset broker, added social trading to the Vantage App, making it an all-in-one trading app that covers both normal and social trading. The Vantage App offers users access to over 1000 trading tools, such as CFDs on Forex, commodities, indices, energy, stocks, ETFs, and bonds. It includes simple in-app navigation and a wide choice of charts, technical tools, order types, customized trade reports, and notifications. The Vantage App, which is available in 14 languages, also provides market news and market analysis powered by Trading Central and FX Street.
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