What are the risks of joining a social trading network?

Asked 4 years ago

Hi all, before I just jump and do. What are the possible risks of joining a social trading network? How would I know a scam to avoid one? Are there any secure platforms? Much appreciated.

Social trading Scams Social trading network Social trading platforms

Osasere Okunloye

Thursday, July 15, 2021

The main risk is that there are some insincere brokers out there that may recommend for you bad traders to copy. As long as you are using a renowned broker like eToro or Avatrade, you should be fine. Make sure you go through the data of every trader thoroughly before deciding on which one to copy.﻿