If you are just starting to learn about online trading, but the matter seems so complicated, here is a website that can help you a lot. SocialTRD.com offers you to join thousands of people who have discovered the advantages of social trading. The SocialTRD platform is web-based and can run on any modern browser without the need to install anything.
The first impression is for a clean and comfortable terminal. Loaded by default assets are on the left side. They can be hidden, and the charts will be shown on the entire screen. Already added assets can be organized by dragging and dropping. There is a search box above them and when you find the desired asset, you can add it by the + button. Next to the name of each instrument are real-time sell and buy prices, which turn into trade buttons when clicking on the instrument name. If you have open positions, a blue information circle with the number of positions is displayed.
You can use two order execution modes. The market execution mode is active by default. This means that orders are executed with slippage (if any) – at the last available market price. The new position appears below the sell and buy buttons and stop-loss and take-profit can be attached to it. The second mode is the instant execution mode and is activated by clicking on the edit symbol at the upper right corner of the selected asset You can set associated stop-loss and take-profit orders before placing the market order. In this mode you can place pending orders as well. SocialTRD claims that stop loss orders are guaranteed and will be executed at the predefined price, regardless of market conditions.
All open positions can be displayed and modified by clicking on the Positions tab, next to the Charts tab. They appear in the chart window. Here you can view a third-party economic calendar, embedded into the platform. A real-time news module is also incorporated into the platform. Past deals reports can be found through a separate menu.
Charts are in the center of the terminal. Initially they show sell prices, but you can switch it to show buy prices. Price changes can be displayed as bars, candles, and lines. Timeframes can be selected from 1 minutes to 1 month and ticks. Dragging the horizontal and vertical ribbons change the scale. There are several graphical tools including Fibonacci retracement, trendlines and free drawings. If you use technical analysis, there are nearly 120 technical indicators arranged in alphabetical order. You can switch between single- and multi- chart modes. Up to 6 charts are displayed simultaneously.
The main feature of the platform is related to social trading, as the name suggests. You can browse the best investors from the social community and choose who you want. By clicking on the Top Investors tab, you will see the top 30 available investors. You can check their profitability, current or past trades. When you like someone and would like to follow its trades, simply clicking the Follow icon. First, you must confirm that you have read the copy trading agreement, then you will start copying the transactions of the selected investor, with the amounts recalculated according to your funds. In general, the terminal is simply structured and provides all the necessary tools for beginners and regular traders. They can use the social trading feature of the platform by just a few clicks. Although copy trading is simply organized and can be done quickly, there are only basic features available. The more experienced traders would probably prefer the MetaTrader 4 platform, which unfortunately is not available.