XTB social trading is a new and attractive form of trading. Allows investors to share and use information from a group of other traders, to get new trading ideas, manage risks and better understand market trends. This way, you can save time, improve your skills, and take advantage of the opportunity to profit from the financial markets. Find out details about XForex in the following article.
What is XTB social trading?
Overview of XTB exchange
XTB is one of the leading forex brokers today. The exchange is listed on the Warsaw Stock Exchange and has offices in more than 10 countries. XTB offers clients access to over 5400 trading products, including forex, indices, commodities, stocks, ETFs, and cryptocurrencies.
XTB is highly appreciated for its service quality, reputation, and transparency. XTB has received many prestigious awards, such as Best CFD Broker Europe 2022 by Wealth & Finance International. Best Forex Broker 2022 by FX Empire. And DayTrading.com’s Best CFD Broker 2022.
Popular forms of trading on XForex
On the XForex app, you can choose to trade in many different forms. Depending on your goals, strategy, and trading style.
- CFD trading is a type of financial contract that allows you to trade the price difference of a financial product. When trading CFDs, you do not own the financial product but only bet on the direction of price movement.
- Forex is a market where currencies are exchanged with each other. Forex is the financial market with the largest trading volume. When trading, traders buy or sell one currency against another. The trader’s goal is to correctly predict the direction of movement of the exchange rate and make a profit from price fluctuations.
- Trading stocks and ETFs: A form of trading that allows you to buy or sell stocks and ETFs (Exchange Traded Funds) of companies listed on stock exchanges around the world.
- Cryptocurrency Trading: A form of trading that allows you to buy or sell the most popular cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Litecoin, and many others.
>>>See more: Simple instructions for XTB sign up on your phone
Does XTB exchange support XTB copy trading?
Currently, XTB does not support XTB copy trading. That is, investors are not allowed to copy the transactions of other traders on the XTB exchange. However, XTB still provides customers with forums and groups to share investment experiences from experienced traders in the market. With this form, it allows investors to share and refer to experiences from other traders in the forex market.
To get new trading ideas, manage risks, and better understand market trends. XTB social trading integrates information exchange into groups and forums and creates a community. Here, traders can share their own investment perspectives and trading schools.
The reason why the exchange does not support XTB copy trading
Although there are many benefits from copying the trades of successful traders. Copy trading also has some risks and limitations that XTB wants to avoid.
Legal risks
When traders copy other traders’ transactions. There may be disputes about the ownership and responsibilities of related parties. Or if a signal provider loses ownership. Or get sued for copyright infringement of the trading strategy. Then copy traders may also be affected. Therefore, XTB does not want to face these legal risks when supporting copy trading transactions. For example, if a trader copies an illegal strategy or violates the exchange’s regulations, that trader may be held liable.
Technical risks
When copy trading, technical errors may occur due to delays, connection errors, differences in prices, and trading conditions between exchanges. For example, if a trader copies a trade from an exchange whose price and spread are different from XTB. Then that trader may not be able to execute the transaction as desired or have to bear higher costs.
Psychological risks
For copy trading. There will be negative psychological effects on investors. For example, if a trader copies a strategy that does not match his level of understanding, expectations, and aspirations, that trader may not be able to control his emotions when faced with fluctuations in the market. market.
Exchanges that support copy trading other than XTB social trading
If you still want to test copy trading. Traders can search for other exchanges that support this service. You need to be careful when choosing a broker and signal provider to copy trades. Below are some exchanges that support copy trading that you can refer to.
ICMarkets exchange supports copy trading compared to the XTB exchange
ICMarkets is an online trading platform established in 2007. It is one of the largest foreign exchange trading platforms in the world. Regulated by reputable regulatory bodies such as ASIC, FSA, and CySEC. ICMarkets provides customers with many trading products. Including forex, indices, commodities, cryptocurrencies, stocks and futures.
ICMarkets also has many tools and resources to support traders. In particular, ICMarkets supports copy trading through many different platforms.
Outstanding advantages of Exness compared to XTB when supporting copy trade transactions
Exness is a foreign exchange exchange established in 2008 in Cyprus. The exchange is currently one of the leading foreign exchange exchanges today. Regulated by reputable regulatory bodies such as FCA, CySEC, and FSCA. Exness.
Exness has its social trading platform, which can therefore ensure consistency and transparency of copied trades. Exness also has quite a good customer service quality. Because there is a Vietnamese support team and a branch in Vietnam.
In this article, XForex introduces you to XTB social trading. This is a form of social trading that allows investors to share and use information from a group of other traders. Thereby getting an overview of XTB forex review new trading ideas, managing risks, and better understanding market trends. And if you have any questions related to XTB, please contact XTB support immediately. We will help answer you as quickly as possible.
>>>See more: What is the XTB Trading platform? Overall of fees
FAQ
What is social trading?
Social trading is a form of trading that allows you to follow, learn, and share trading experiences between traders on trading exchanges.
Does XTB exchange support XTB copy trading?
Currently, XTB does not support XTB copy trading. That is, investors are not allowed to copy the transactions of other traders on the XTB exchange.
Is XTB reputable?
XTB is one of the leading forex brokers today. The exchange is listed on the Warsaw Stock Exchange and has offices in more than 10 countries.
