When searching for a solid social trading platform, Etoro is currently the best choice due to:
- large user-base adding to the social power of the site,
- lots of profitable traders to follow,
Check out my full review for more details.
But by now you probably know that already and would like to review some Etoro alternative options due to one reason or another. Despite doing most of my social trading ventures over at Etoro, I’ve also tested the waters with other alternatives as well.
Here are the alternatives:
The company was founded around the same time as Etoro, but has managed to lure in a bit less traders, current user-base is around 1 million people. Despite that, it is the second biggest social trading platform in the market.
Zulutrade has some advantages compared to it’s bigger competitor, it allows you to choose either their in-house broker AAAfx, or you can choose to open an account with over 50 different brokers on your own. This enables you to have more options in terms of which platforms you like the most (Metatrader 4 is compatible with the broker). You will be able to customise the charts to your liking.
Another key benefit when comparing to Etoro is that Zulutrade accepts traders from the United States and hence is the Nr 1 social trading option for American traders.
In 2013, Zulutrade also added the possibility to trade Binary options. While this is an instrument that I personally recommend to stay away from, there are still countless number of people that like to dabble into the world of BO-s and they are welcome to do that via Zulutrade.
One neat tool that Zulutrade has is the inbuilt Zuluguard, which provides users the option to discontinue copying traders when they change their strategy. A very clever feature to protect your funds.