The brokers have not been waiting and, at least, the most affluent already have a live chat that offers a 24-hour customer service (no need to pick up the phone, go). However, others have gone further and have merged traditional online trading with the modus operandi of social networks, so what is this? No worries, below we present all the info on the social brokers and which, in our opinion, offer the best service and tools according to their price.
Let's get into the matter: we mean a social broker or social broker (Spanish term) as the operator that not only offers "traditional" online trading services, basically trading shares, commodities, cfds, forex, etc. . but also uses an interface derived directly from the modus operandi used in social networks, namely: live chat, possibility to post videos, photos, comments, send likes, follow x people, etc. The reality is that the invention has been quite well and we will see why.
Advantages of a social broker
- No custody or maintenance fees
- Well, with the roll that it is rather a social community, most have been polished the typical commissions of custody and maintenance.
- Network Community
- The possibilities offered by a social broker are practically the same as those of facebook; we can send videos, talk to other brokers, send likes and comments, create lists or groups of friends, share in social networks, etc.
- Copy to other traders
- This option is one of the most striking claims for most (not all) social brokers, which allow and facilitate the follow-up of other users' positions and copy them on the fly.
- All kinds of conventional tools
- Market analysis, live charts, economic calendar, indicators, updated news, etc.
- Trading Markets
- Spanish stock exchange and regulated international stock exchanges.
- Investment products
- Stocks, CFDs, Forex, commodities, binary options and obligations (rare).
- Trading Platforms
- These can be either the social support of the broker, or more conventional platforms such as Metatrader4. Almost all of them usually have a mobile App.
- Demo Accounts
- Many brokers offer demo accounts without any commitment to take a look at the matter.
Where do they get the benefit?
In principle this class of brokers only benefits from spreads. They also do not play with exchange tables, which is why they do not benefit from your losses. Now, we recommend to always read the fine print before hiring any service; in this case many brokers require a minimum deposit (usually between $ 100 and $ 300), which we would not want to lose for having saved us ten minutes.
What do I have to consider when investing in a social broker?
Well, come to this point it is worth remembering that you should always invest with head and expose ourselves to the risk of losing the investment. Therefore, we recommend to have some aspects in mind in case of being beginners:
- Consult or follow the experts
- Thanks to the social brokers this act has become a little easier. We can follow and analyze the positions of other traders more experts in the matter to learn from their movements.
- Diversify the portfolio of investments (not to lose all the parné of one).
- Be well informed of all the possibilities offered by a broker and not start investing for the most complicated products (such as cdfs, futures and family).
- Compare the best brokers on the market before choosing one.
- Try demos
- Before we start investing we can get a pretty good idea of how the tool works.
- According to experts, long-term investments are more productive than short-term investments.
- Learn how the broker world works, its financial jargon, analysis, tools, etc. and always stay informed of the latest economic news
- Remember that even if the broker is free, you will always have to pay the redemption fee if you buy stocks: all on the stock exchange here.
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