Looking for social trading platforms to improve your portfolio？FP Markets Social Trading and Pepperstone Social Trading may be a good choice for you。

Although most traders do fundamental and technical analysis independently, there is still a small group of traders who prefer to follow the analysis of others。If you're one of them, some forex brokers offer social trading as the ultimate solution。

Social trading allows investors and traders to imitate the techniques of their peers or more experienced traders and directly copy their trades in exchange for a certain amount of fees.。Those who provide technology are referred to as "signal providers" or "professional traders," while those who enjoy the ability to follow orders may be referred to as "followers" or "followers."。

Some brokers work with third-party social trading platforms to connect their clients with off-the-shelf signal providers.。Some others prefer to build their own social trading ecosystem to provide services that integrate well with their trading platforms。Pepperstone is the former and FP Markets is the latter。

Let's compare FP Markets with Pepperstone social deals to see which is better。

FP Markets Social Trading

• Social Trading Type: Proprietary Documentary Trading
  Trading platforms: Metatrader 4 and Metatrader5
  Automated trading: available
  Minimum deposit: $100

FP Markets offers a proprietary replication trading platform integrated with its customer portal。You can register as a "follow" to follow a successful trader, or as a "provider" to earn additional income from trading。

Replicators find the best providers through the ratings page in the social trading portal and click "Follow" to replicate their actions。Trailers can follow multiple providers with different trading strategies or activate and deactivate any following with a single click。The whole process is very simple: select, copy and control。All replication is done automatically 24 / 7 even if the device is turned off。

People who want to become a supplier must first have an open and operational live trading account at FP Markets and then register to a specific supplier registration portal using their MT4 / MT5 credentials。After that, they are free to create quotes, decide on performance fees and frequency of payments。FP Markets also provides access to Myfxbook where providers can track and showcase their account performance。

Pepperstone Social Deals

• Social Transaction Type: Third Party Link
  Trading platforms: Metatrader 4 and Metatrader5
  Automated trading: available
  Minimum deposit: $200

Pepperstone offers a simple app and link flow for three social trading services: Myfxbook, MetaTrader Signals, and DupliTrade, with varying benefits。

Myfxbook is one of the most popular portfolio tracking systems in the industry。With the AutoTrade account mirroring tool, you can replicate trades from the top trading systems on the platform and build a diversified portfolio without paying any performance or management fees。Since AutoTrade runs on its own dedicated server, there is no need to install any software on the terminal。

Metatrader Signals provides real-time access to thousands of trading strategies and signals from successful traders at the lowest cost (plus 100% free signals!)。In addition, the service allows followers to adjust their trading when copying any strategy。You can close your positions early, adjust your strategy funds allocation, and modify the stop loss level according to your own schedule。

Duplitrade deploys signals from verified and audited proprietary traders, enabling you to expand your trading skills and gain a basic understanding of professional methods。It is a premium version of social trading with a minimum deposit of A $5,000.。

Conclusion

So, which is better, FP Markets or Pepperstone social trading？In fact, both have their own advantages and disadvantages。

Beginners may find it easier to browse FP Markets' social trading portal; however, Pepperstone is more inclusive and has access to a wider range of signal sources。If you want to make a social transaction with a large amount of money, Pepperstone will be your best choice。