Exness and FP Markets are forex brokers with millions of users. But when it comes to social trading, which one should you choose?
Social trading is becoming increasingly popular among traders, and it's not hard to see why. By copying trades from experienced traders, novices can benefit from their expertise and potentially earn profits without learning to trade themselves.
Both Exness and FP Markets offer solid social trading platforms for traders. Exness' CopyTrade and FP Markets' Myfxbook Autotrade have similar features, including the ability to follow and copy the trades of successful traders, set risk levels and trade volumes, and filter strategies/signals by performance and other criteria. However, there are differences in the platforms' user interface, the number of traders and strategies available for copying, and ease of use.
Traders may also consider other factors, such as minimum investment, regulatory framework, and customer support, when choosing between Exness and FP Markets.
Overall, Exness' CopyTrade has more enhanced features, such as a demo account, a modern interface, and a more streamlined selection of traders and strategies to copy than FP Markets, making it very comfortable for beginners.
Exness is a forex and CFD broker founded in 2008 and headquartered in Cyprus. The broker has established a strong reputation in the trading industry by offering various trading instruments, including forex, metals, cryptocurrencies, and more. Exness has established a significant presence in the industry, with more than 120,000 active traders globally, and has received several awards for its services. One of the key factors behind its success is the broker's strong regulatory framework, as it is regulated by top-tier financial authorities such as the FCA, CySEC, and FSCA.
FP Markets is a leading forex and CFD broker based in Australia, providing high-quality trading services since 2005. It offers a comprehensive suite of financial instruments, including forex, stocks, indices, commodities, and more. The broker is committed to providing traders with a safe and secure trading environment and is regulated by two top-tier financial authorities, ASIC and CySEC. With advanced trading tools, tight spreads, and superior execution speeds, FP Markets has become a preferred choice for traders of all levels, from beginners to seasoned professionals.
Social Trading Platforms
Exness and FP Markets are two well-known forex and CFD brokers offering social trading platforms, gaining popularity among traders. Social trading allows beginners or inexperienced traders to copy experienced traders' trades, providing them an opportunity to learn and earn simultaneously. Both brokers offer similar social trading platforms with a wide range of features, such as automated trading, transparent performance statistics, and the ability to follow multiple traders. However, there are differences in the platforms' user interface, minimum investment, and the number of traders available for copying.
Exness Social Trading
Exness' social trading platform is called CopyTrade, and it's available on both desktop and mobile devices. CopyTrade allows traders to follow and copy the trades of successful traders, with the option to set their own risk level and trade volume.
Traders can choose from various strategies and filter them by performance, risk level, and other factors. Additionally, they can communicate with other traders and share ideas through the platform's chat feature.
FP Markets Social Trading
FP Markets' social trading platform is called Myfxbook Autotrade. It's available on desktop and mobile devices and offers access to thousands of trading signals from successful traders worldwide.
Traders can filter the signals by performance, risk level, and other criteria and subscribe to the ones they like. The platform also allows traders to set their own risk level and trade volume and communicate with other traders through the platform's forum.
Comparing the Social Trading Platforms
Regarding social trading platforms, both Exness and FP Markets offer a good range of features. However, there are some differences:
In addition to offering social trading platforms, Exness and FP Markets have differences in how their platforms function. For instance, Exness' CopyTrade platform has a modern and intuitive interface that's easy to navigate, making it easy for traders to filter strategies by performance, risk level, and other factors. Additionally, CopyTrade provides clear information about each strategy's past performance, helping traders make informed decisions.
On the other hand, FP Markets' Myfxbook Autotrade has a user-friendly interface, but it's slightly more cluttered than CopyTrade. While traders can still filter signals by performance and other criteria, the platform doesn't provide as much information about each signal's past performance as CopyTrade does. These differences can affect traders' preferences for one platform over the other.
Number of Traders and Strategies
Exness' CopyTrade and FP Markets' Myfxbook Autotrade have unique advantages when it comes to social trading. CopyTrade has a more streamlined selection of traders and strategies, which can be a plus for traders who prefer a more curated approach. The platform allows traders to filter strategies based on performance, risk level, and other factors, providing clear information about each strategy's past performance.
On the other hand, Myfxbook Autotrade offers a larger selection of traders and strategies, which can be overwhelming for some traders. However, the platform makes evaluating which signals to subscribe to easier by providing a lot of information about each signal's past performance. Traders can filter signals by performance and other criteria, although the platform's interface is slightly more cluttered than CopyTrade's.
Ease of Use
CopyTrade offers a demo account that allows traders to practice using the platform without risking real money. On the other hand, FP Markets' Myfxbook Autotrade does not offer a demo account but provides a larger ion of traders and strategies to choose from. Ultimately, the choice between the two platforms depends on the trader's preference for a more curated ion of strategies or a wider range of options with more detailed performance information.
|💲 Min Deposit||$10||$100|
|⚖ Max Leverage||1:2000||1:500|
|💡 Min Position||0.01 lot||0.01 lot|
|💳 Payment||WebMoney, Skrill, Wire transfer, Credit/debit cards, Neteller, Perfect Money, Crypto, Tether (USDT) and USD Coin (USDC)||Apple Pay, Crypto, Credit/debit cards, Dash, Dragonpay, Ethereum, FasaPay, Google Pay, Litecoin, Local bank transfer, Neteller, Ripple, Skrill, Tether (USDT), USD Coin (USDC), Wire transfer and Zcash|
|🧩 Demo Account|
|📁 Segregated Account|
|🕋 Islamic Account|
|👨💻 PAMM Account|
|📈 Managed Account|
|🇺🇸 US traders|
|🏆 Trading contests|
|⚡ Automated trading|
|💰 Bonus offers|
|📖 Free education|
|1️⃣ One-click trading|
|⏱ Trailing stop|
|⏳ Pending orders|
|Gold & Silver|
|🗣 Website Languages||Arabic, Bengali/Bangla, German, English, Spanish, French, Hindi, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Thai, Urdu, Vietnamese, Chinese||Arabic, Chinese, English, French, Indonesian, Italian, Malay, Portuguese, Russian, Spanish, Vietnamese|
|🚪 Trade Now||Open Exness||Open FP Markets|
If you are interested in giving copy trading a go, FP Markets provides a clear and comprehensive guide in the following article.