Here in our in-depth guide to the best social trading platforms in Singapore, we’ve looked into all the options for traders. The social trading capabilities, usability, and general trading experience were the primary areas in which our team evaluated these brokers. In order to assist you make informed decisions, we have evaluated important indicators and taken user comments into account. You will learn:
- What social trading platforms are
- The best tips for using social trading platforms
- The 5 best social trading platforms in Singapore
- The most frequently asked questions about social trading in Singapore
Our goal is to give you a thorough overview. This guide provides useful information on the top social trading brokers in Singapore, and it is suitable for both experienced traders who want to diversify their strategies and new traders who want to learn from others.
- Candice Barnes
10 Best Forex Brokers in Singapore for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What are social trading platforms?
The use of social trading platforms has completely altered the dynamics of the financial markets for traders in Singapore and elsewhere. These platforms combine social media with trading, letting users follow the moves of successful traders and discuss trading methods.
Traders in Singapore can benefit greatly from the insights and collective expertise of a worldwide trading community through social trading.
The ability to follow and copy the real-time trades of successful traders is a crucial element of social trading platforms. Novice traders can learn a lot by watching the methods used by experts, so that this is especially helpful for them.
Using social trading platforms traders can make better decisions with the support of these platforms’ extensive analytical tools, performance information, and risk management options. Social trading encourages traders to work together by providing a platform for them to talk about market trends, provide one other advice, and provide mutual support.
Social trading platforms provide a welcoming environment for new traders in Singapore by integrating social media with advanced trading tools. This level of accessibility to international financial markets and the benefits of collective intelligence in trading make these platforms ideal for a wide range of traders.
Top tips for social trading in Singapore
Social trading has become a popular way for traders in Singapore to leverage the expertise of experienced investors and enhance their trading strategies. Here are some top tips for successful social trading in Singapore:
➡️Choose the right Platform
➡️Research and follow Proven Traders
➡️Diversify your portfolio
➡️Use Risk Management tools
➡️Engage with the Trading Community
➡️Start small and scale up
5 Best Social Trading Platforms in Singapore – Comparison
🔍Broker | 🫴🏻Social Trading Platforms | 🚀Open an Account | 💵Minimum Deposit | 🌟Risk Management Tools |
🥇AvaTrade | ✅ Yes | 👉 Click Here | SGD135.25 or USD100 | Advanced |
🥈HFM | ✅ Yes | 👉 Click Here | USD6.76 or USD5 | Advanced |
🥉eToro | ✅ Yes | 👉 Click Here | SGD67.60 or USD50 | Advanced |
🏆FXTM | ✅ Yes | 👉 Click Here | SGD67.60 or USD50 | Advanced |
🏅Pepperstone | ✅ Yes | 👉 Click Here | No minimum deposit | Advanced |
5 Best Social Trading Platforms in Singapore (2024)
- ☑️AvaTrade – Overall, The Best Social Trading Platform
- ☑️HFM – Best Trading Accounts
- ☑️eToro – Best Affiliate Program
- ☑️FXTM – Exceptional Customer Service
- ☑️Pepperstone – Best MT4 Broker
AvaTrade
Singaporean traders looking to benefit from the knowledge of a worldwide trading community would find AvaTrade’s powerful social trading experience to be an ideal fit.
If you use AvaTrade, you can automatically copy the moves of successful traders thanks to its integrations with ZuluTrade and DupliTrade.
We found that while DupliTrade has a more curated collection of strategy providers, ZuluTrade gives a powerful social trading environment where users can copy the methods of a variety of experienced traders.
Total Pairs
51
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Traders in Singapore can diversify their portfolios by following multiple strategy providers, save time on market analysis, and get access to proven trading systems.
When you add these social trading capabilities to AvaTrade’s already intuitive platform, you get a trading experience that is more engaging, informative, and maybe lucrative all at once.
Unique Features
🔍Feature | ✏️Description |
🔢Number of available strategy providers | Numerous |
🌟Platform user interface and ease of use | User-friendly |
👉Trade replication accuracy | High |
🪛Performance analytics and reporting tools | Comprehensive |
📌Community interaction and engagement features | High |
⚠️Risk management tools | Advanced |
💵Minimum Deposit Requirements in SGD | SGD135.25 or USD100 |
📝Copy trading fees and commissions | Competitive |
🏦Historical performance of strategy providers | Available |
⌛Regulatory compliance and security measures | ASIC, FSCA, FSA, FFAJ |
➡️Customization options for copying trades | Extensive |
👥Customer support and service quality | Excellent |
📱Mobile app functionality | Powerful |
👉Integration with other trading tools and platforms | Seamless |
🎓Educational resources and training materials | Extensive |
🗣️User reviews and reputation within the trading community | Positive |
🫴🏻Availability of demo accounts for social trading | ✅ Yes |
🗂️Compatibility with different account types | Wide |
📈Frequency of updates and platform enhancements | Regular |
💳Withdrawal and deposit options | Multiple options |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅Pros | ❌Cons |
Numerous strategy providers offer a wide range of trading strategies to follow. | Minimum investment requirement of $100 may be a barrier for some new traders. |
User-friendly platform makes it easy for beginners to navigate and use social trading features. | Copy trading fees and commissions can add up, affecting overall profitability. |
High trade replication accuracy ensures that copied trades closely match those of strategy providers. | Community interaction and engagement features are moderate compared to some other platforms. |
Comprehensive performance analytics and reporting tools help users make informed decisions. | Limited availability of demo accounts for social trading restricts practice opportunities. |
Advanced risk management tools allow traders to set limits and control their exposure. | Historical performance data of strategy providers may not always predict future success |
Trust score
AvaTrade has a trust score of 93%
HFM
HFM’s partnership with Myfxbook and its own social trading app set it apart from the competition. There is a thriving community of traders in Singapore where traders can easily interact, share insights, and follow successful trading strategies on these platforms.
Users can easily copy trades from their mobile devices with the HFM social trading app’s user-friendly interface.
In order to help traders determine the best strategies to follow, Myfxbook allows them to connect their accounts and provides thorough performance information.
Min Deposit
0 SGD / 0 USD
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
53
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
We like that traders can enhance their abilities and boost their odds of success in the individualized social trading environment, which promotes teamwork and ongoing education.
Innovation, community involvement, and educational opportunities all come together on HFM’s social trading platforms, making them ideal for those seeking to improve their trading experience.
Unique Features
🔍Feature | ✏️Description |
🔢Number of available strategy providers | Moderate |
🌟Platform user interface and ease of use | User-friendly |
👉Trade replication accuracy | High |
🪛Performance analytics and reporting tools | Comprehensive |
📌Community interaction and engagement features | High |
⚠️Risk management tools | Advanced |
💵Minimum Deposit Requirements in SGD | USD6.76 or USD5 |
💴Copy trading fees and commissions | Competitive |
🏦Historical performance of strategy providers | Available |
⌛Regulatory compliance and security measures | FCA, CySEC, FSCA |
➡️Customization options for copying trades | Flexible |
👥Customer support and service quality | Excellent |
📱Mobile app functionality | Powerful |
👉Integration with other trading tools and platforms | Seamless |
🎓Educational resources and training materials | Extensive |
🗣️User reviews and reputation within the trading community | Positive |
🫴🏻Availability of demo accounts for social trading | ✅ Yes |
🗂️Compatibility with different account types | Wide |
📈Frequency of updates and platform enhancements | Regular |
💳Withdrawal and deposit options | Multiple options |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅Pros | ❌Cons |
High trade replication accuracy ensures reliable copying of trades. | The number of available strategy providers is moderate, limiting choices. |
User-friendly interface makes it easy to use the social trading features. | Community interaction and engagement features are not as extensive as competitors. |
Advanced risk management tools help traders manage their exposure effectively. | Copy trading fees and commissions can impact profitability. |
Comprehensive performance analytics and reporting tools provide detailed insights. | Availability of demo accounts for social trading is limited, reducing practice opportunities. |
Trust score
HFM has a trust score of 85%
eToro
eToro is widely recognized as a leader in social trading, and for good reason. Its platform is intuitively designed to bring the world of trading into a social context, making it ideal for traders in Singapore.
The CopyTrader feature allows users to automatically replicate the trades of top investors, effectively leveraging their expertise and strategies. eToro’s CopyPortfolios offer another layer of social trading, enabling users to invest in thematic portfolios managed by eToro’s investment committee.
Min Deposit
2,700 SGD ($2,000)
Regulators
CySEC, FCA, ASIC, FSA, NFA, FinCEN, FINRA, SIPC
Trading Desk
eToro platform
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
We found that this approach not only simplifies the investment process but also helps in diversifying portfolios. The social feed on eToro’s platform encourages interaction among traders, fostering a community where ideas and strategies are freely shared.
For traders in Singapore, eToro provides a unique blend of social engagement and advanced trading capabilities, making it a compelling choice for those looking to improve their trading outcomes through collaborative efforts.
Unique Features
🔍Feature | ✏️Description |
🔢Number of available strategy providers | Numerous |
🌟Platform user interface and ease of use | Highly intuitive |
👉Trade replication accuracy | High |
🪛Performance analytics and reporting tools | Comprehensive |
📌Community interaction and engagement features | Extensive |
⚠️Risk management tools | Advanced |
💵Minimum Deposit Requirements in SGD | SGD67.60 or USD50 |
💴Copy trading fees and commissions | Competitive |
🏦Historical performance of strategy providers | Available |
⌛Regulatory compliance and security measures | FCA, CySEC, ASIC |
➡️Customization options for copying trades | Extensive |
👥Customer support and service quality | Excellent |
📱Mobile app functionality | Powerful |
👉Integration with other trading tools and platforms | Seamless |
🎓Educational resources and training materials | Extensive |
🗣️User reviews and reputation within the trading community | Positive |
🫴🏻Availability of demo accounts for social trading | ✅ Yes |
🗂️Compatibility with different account types | Wide |
📈Frequency of updates and platform enhancements | Frequent |
💳Withdrawal and deposit options | Multiple options |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅Pros | ❌Cons |
Numerous strategy providers offer a wide variety of trading strategies. | Copy trading fees and commissions can accumulate, affecting overall returns. |
Highly intuitive platform makes it accessible for traders of all levels. | Extensive customization options for copying trades may overwhelm beginners. |
High trade replication accuracy ensures that copied trades are accurate. | Regulatory compliance measures may impose restrictions for some traders. |
Extensive community interaction and engagement features foster a collaborative environment. | Frequency of updates and platform enhancements might cause occasional disruptions. |
Trust score
eToro has a trust score of 90%
FXTM
Designed to cater to the needs of both experienced and inexperienced traders in Singapore, we found that FXTM Invest provides an interesting social trading experience.
With FXTM Invest, users can copy the trades of successful investors and select from a variety of strategy managers according to their performance indicators. Traders who wish to take advantage of the market’s opportunities but lack the knowledge or time to do so full-time will find this platform very useful.
Overall Rating
- 4.9/5
Min Deposit
14 SGD (10 USD)
Regulators
CySEC, FSCA, FCA, CMA, FSC Mauritius
Trading Desk
MT4, MT5, FXTM Trader
Crypto
Yes
Total Pairs
60
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Traders can gain the knowledge and insights they need to make informed decisions with FXTM’s social trading features, substantial instructional materials, and market analysis tools.
Not only does FXTM Invest’s community-driven strategy improve the trading experience, but it also creates a supportive atmosphere for learning and progress.
Unique Features
🔍Feature | ✏️Description |
🔢Number of available strategy providers | Numerous |
🌟Platform user interface and ease of use | Highly intuitive |
👉Trade replication accuracy | High |
🪛Performance analytics and reporting tools | Comprehensive |
📌Community interaction and engagement features | Extensive |
⚠️Risk management tools | Advanced |
💵Minimum Deposit Requirements in SGD | SGD67.60 or USD50 |
💴Copy trading fees and commissions | Competitive |
🏦Historical performance of strategy providers | Available |
⌛Regulatory compliance and security measures | FCA, CySEC, ASIC |
➡️Customization options for copying trades | Extensive |
👥Customer support and service quality | Excellent |
📱Mobile app functionality | Powerful |
👉Integration with other trading tools and platforms | Seamless |
🎓Educational resources and training materials | Extensive |
🗣️User reviews and reputation within the trading community | Positive |
🫴🏻Availability of demo accounts for social trading | ✅ Yes |
🗂️Compatibility with different account types | Wide |
📈Frequency of updates and platform enhancements | Frequent |
💳Withdrawal and deposit options | Multiple options |
🚀Open and Account | 👉 Click Here |
Pros and Cons
✅Pros | ❌Cons |
Numerous strategy providers offer a broad range of trading strategies to follow. | Community interaction and engagement features are moderate compared to competitors. |
User-friendly interface makes it easy to navigate and use social trading features. | Copy trading fees and commissions may reduce overall profitability. |
High trade replication accuracy ensures reliable copying of trades. | Availability of demo accounts for social trading is limited, reducing practice opportunities. |
Trust score
FXTM has a trust score of 93%
Pepperstone
Pepperstone provides Singaporean traders with a social trading platform through its partnerships with ZuluTrade and Myfxbook, allowing for a more engaging and participatory trading environment.
Users get access to a rich selection of trading strategies and methods through ZuluTrade’s platform, which lets them track and copy the trades of top-ranked traders.
Alternatively, traders can take advantage of Myfxbook’s social trading features and in-depth performance statistics to make data-driven judgments.
Min Deposit
14 SGD ($10)
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Desk
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
1000+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
We feel that Pepperstone’s social trading products, which prioritize community interaction and collaboration, demonstrate the company’s dedication to provide a transparent and supportive trading environment.
The advantages for traders in Singapore include gaining knowledge from more seasoned traders, expanding their trading strategies, and improving their trading results overall.
Pepperstone is a great choice for anyone who want to use social trading to reach their financial goals because of its dependable trading infrastructure and powerful social trading features.
Unique Features
🔍Feature | ✏️Description |
🔢Number of available strategy providers | Numerous |
🌟Platform user interface and ease of use | User-friendly |
👉Trade replication accuracy | High |
🪛Performance analytics and reporting tools | Comprehensive |
📌Community interaction and engagement features | Moderate |
⚠️Risk management tools | Advanced |
💵Minimum Deposit Requirements in SGD | No minimum deposit |
💴Copy trading fees and commissions | Competitive |
🏦Historical performance of strategy providers | Available |
⌛Regulatory compliance and security measures | FCA, ASIC, DFSA |
➡️Customization options for copying trades | Flexible |
👥Customer support and service quality | Excellent |
📱Mobile app functionality | Powerful |
👉Integration with other trading tools and platforms | Seamless |
🎓Educational resources and training materials | Extensive |
🗣️User reviews and reputation within the trading community | Positive |
🫴🏻Availability of demo accounts for social trading | ✅ Yes |
🗂️Compatibility with different account types | Wide |
📈Frequency of updates and platform enhancements | Regular |
💳Withdrawal and deposit options | Multiple options |
🚀Open an Account | 👉 Click Here |
Pros and Cons
✅Pros | ❌Cons |
Numerous strategy providers offer a wide variety of trading strategies. | Community interaction and engagement features are moderate compared to some other platforms. |
User-friendly platform makes it accessible for traders of all levels. | Copy trading fees and commissions can accumulate, affecting overall returns. |
High trade replication accuracy ensures that copied trades are accurate. | Limited availability of demo accounts for social trading restricts practice opportunities. |
Trust score
Pepperstone has a trust score of 95%
Conclusion
In our final thoughts, the best social trading brokers for traders in Singapore offer a blend of accessibility, powerful features, and supportive trading environments.
Social trading platforms have revolutionized the way individuals approach trading, making it easier for newcomers to learn from seasoned professionals and for experienced traders to diversify their strategies.
Ultimately, the right choice depends on individual goals and trading styles, but the integration of social trading features has undeniably made the market more accessible and engaging for traders in Singapore.
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Frequently Asked Questions
How do I start social trading on a new platform?
To start social trading, sign up for an account, complete the verification process, deposit funds, and then browse and select traders to follow based on their performance and strategies.
Can I customize the trades I copy from other traders?
Yes, many social trading platforms allow you to customize the trades you copy by setting parameters such as trade size, risk levels, and stop-loss limits.
What types of assets can I trade through social trading platforms?
Social trading platforms typically offer a range of assets including forex, stocks, commodities, indices, and cryptocurrencies, allowing for diversified investment opportunities.
How do social trading platforms ensure the security of my funds?
Reputable social trading platforms are regulated by financial authorities and implement strict security measures, including encryption and segregated accounts, to protect your funds.
Can I interact with other traders on social trading platforms?
Yes, social trading platforms often feature social feeds, forums, and messaging systems that allow you to interact with other traders, share insights, and discuss strategies