SocialTrader Tools Review 2023 – Compare The Best Copy Trading Platforms

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Below you can find an in-depth look into SociaTrader Tools copy trading service. If you wish to check other reviews on the topic of social and copy trading – click here

SocialTrader Tools is a web-based social trading platform. It is hosted in the cloud and accessible 24/7. SocialTrader Tools enables MT4 and MT5 Hedging account owners to manage in one place several accounts, copy trades from other users or benefit as signal providers. It offers over 300 Forex trading instruments.

In this SocialTrader Tools review, we will break down how the platform works and what is the overall customers’ experience.

SocialTrader Tools Overview

SocialTrader Tools is launched in 2015 as an independent trading cloud-based trading platform that enables traders to manage several accounts. Within the next few years, the platform developed, and features allowing social and copy trading were added. Check out www.acorn2oak-fx.com/forex-copy-trading.html

SocialTrader Tools is designed by the FinTech company Titanium. They specialise in SaaS solutions for the financial industry, and SocialTrader Tools is their main project. Last year SocialTrader Tools announced they reached 10,000 subscribers. The company is based in Mauritius.

SocialTrader Tools Features and Tools Review

First of all, if you are a beginner trader or an investor with limited knowledge and experience, SocialTrader Tools is probably not for you.

It is useful amidst advanced traders and service providers looking for a platform to serve their community. This is predominately due to the option for multiple account sign-in. Additionally, you need to have an open brokerage account under the MT4 platform to join.

According to the SocialTrader Tools FAQ section, MT5 traders can sign in too, but only those using the MT5 Hedging type of account.

Once you connect your account with the platform (check below for more details about the registration process), you are ready to join the social trading segment.

SocialTrading Tools offers you four different options to benefit from their opportunities – Account Manager, Trader Copier, Signal Provider or Whitelabel. The Account Manager option enables one main (master) trader to associate and manage multiple accounts through one profile.

The Trader Copier is the core feature of SocialTrader Tools. It is similar to an account manager with a small addition. This option allows you to set up copy trading on multiple accounts. You can choose among three different Trader Copier modes – On, Off and Manage existing trades only.

The Signal Provider feature comes with a built-in signal page. This page can be used to show your trading performance, or you can enable other users to follow and copy your strategies paid or for free.

As you have probably noticed, SocialTrading Tools is quite different from most of the social trading platforms. In essence, it allows you to build your personal social trading network within which advanced traders with many years of experience can certainly consider.

However, it doesn’t come for free. SocialTrading Tools have a strict subscription policy. Each account you sign in to will cost you 20 USD per month. Unfortunately, there isn’t also a demo account or limited free trial, so in our opinion, you may start with up to 5 accounts and check if it works for you.

According to the company website, you can cancel your subscription at any point, but you won’t be refunded the remaining amount of your subscription.

SocialTrading Tools Registration Review

Starting with SocialTrading Tools is a straightforward process that requires a few steps. First, you need to set up your profile through the Get Started page. Once you enter your details, you will be offered to select your account hosting package (how many accounts you wish to associate).

The next step is adding the accounts and finally creating the copier. On a positive note – you feel lost at any step – SocialTrading Tools Provide you with detailed video tutorials to help you.

SocialTrading Tools Customer Experience Review

SocialTrading Tools is a sophisticated platform attractive for advanced traders. It is built well, and it has the advantage of being cloud-based independent from any VPS. If you are an expert trader with many years of experience, undoubtedly, the notion of starting your service is alluring.

However, the lack of a demo account and the subscription fee of 20 USD per month could be a setback. Inexperienced traders, on another side, should search for other social and copy trading opportunities.

Advantages:

► Multiple accounts to be open and manage through one profile

► Email alerts about any trading activity connected with your accounts

► Dynamic risk calculation

► Wide range of FX trading instruments

Disadvantages:

► Not suitable for beginners traders and investors

► Each associated account has a 20 USD subscription fee

► No demo version

► Only MT4 traders and MT5 Hedging account owners