Social Trader Tools Review – The Best Trade Copier?


Social Trader Tools

8.8

EASE OF USE

10.0/10

SETUP NEEDED

10.0/10

COST

9.0/10

FEATURES

10.0/10

REPUTATION

5.0/10

Pros

  • GREAT RANGE OF TOOLS
  • 100% CLOUD BASED
  • ADD UNLIMITED ACCOUNTS
  • EASY TO SETUP

Cons

  • NO REVIEWS ONLINE

These days traders are taking on more trading styles, more accounts and more prop firm funding leading to a lot of headaches when it comes to managing all of the accounts and open positions. Mismanagement of open trades is one of the largest contributors to losses in the forex markets, costing traders millions each and every day. This is where trade copiers come in…

In this article we are going to be reviewing Social Trader Tools, a platform used for copying trades, managing risk and reverse copying. We are going to take a look at the pros, cons and everything you need to know before signing up. Let’s get into it…

What Is Social Trader Tools?

Social Trader ToolsOpens in a new tab. is a platform built for forex traders looking to copy trades from one account, to multiple others, automatically. The tool is completely cloud hosted and scaleable, meaning traders just setup each account, set their risk settings and then it’ll be simultaneously opening positions on the copier accounts, whilst you are just trading your main account like normal.

Now we know what the platform actually is, let’s take a look at the features in a bit of depth.

Social Trader Tools Features

Social Trader Tools comes with a full range of tools and features that are going to make a huge difference to your trading capabilities. Let’s take a look…

1. Account Manager

The dashboard allows you to add pretty much unlimited MT4 accounts, regardless of which broker you’re using. Having all of your accounts/investor accounts compiled in one dashboard is so useful for money managers or traders scaling up their operations. This is even going to be useful for traders with multiple prop firm funded accountsOpens in a new tab., to have them all in one place.

2. Trade Copier

The trade copierOpens in a new tab. is the most popular feature within Social Trader Tools platform. This allows you to simultaneously trade multiple accounts. Trades from your master accounts are copied automatically to your copier accounts in about 50ms, making this perfect for scalpers, day traders and swing traders looking to grow their portfolios, trading accounts and capital under management.

The copier is one of the best on the market and definitely ranks higher than most of the Top Forex Trade CopiersOpens in a new tab.. In fact, besides potentially the MT4 CopierOpens in a new tab., I think the features and stability of the trade copier makes it one of the best in the industry, without a doubt.

3. Signal Provider

You can register your account to be a signals provider, which gives you your very own URL/landing page. Investors will be able to see your results and add their accounts to follow your trades if they’re happy with your trading results. You’ll never be competing with other signal sellers as there isn’t a dashboard comparing all providers, you will just have your own landing page displaying your stats. This is great to traders looking to take on additional funds.

4. White-label Opportunity

For traders with trading companies, signal groups or even brokers, you are able to completely brand the platform to your own liking and start setting people up on the platform for a fee. You can even completely monetise the platform by only selecting chosen brokers and adding affiliate links. Social Trader currently offers this service to companies for free, but it’s soon moving to a paid model if you’re looking to sell this service on.

This isn’t a feature that any of the other leading trade copiersOpens in a new tab. offer, so I would certainly take advantage of this soon if this business model would be of interest to you.

5. Reverse Copy

The platform has a pretty cool reverse copy system. If you’re trading a strategy that just isn’t working/isn’t profitable, you can automatically have one of the copier accounts take the opposite trade to you, hedging your losing trade. This is going to be really interesting for those strategies that just don’t work, maybe there’s an edge in them after all?!

6. No VPS Needed – Fully Cloud Hosted

Social Trader Tools platform is completely cloud hosted with a web portal to login. This means that you don’t need to download multiple MT4 copies, install anything local and can monitor the accounts from anywhere with internet connection. The majority of the trade copiers on our Top Forex Trade CopiersOpens in a new tab. list require a ForexVPSOpens in a new tab. to run properly – so it’s nice not having to worry about setting anything up.

7. Ease Of Setup

As you can see from the video above, setting the trade copier up is extremely quick and simple. The web interface makes it so easy to setup in minutes and you’re able to log in from anywhere in the world and check on the status of the copier accounts, add and delete accounts and monitor risk settings.

Why Use Social Trader Tools?

There are a number of reasons why you might want to be using Social Trader Tools as part of your forex trading setup. I personally found a huge amount of benefits and use in having a trade copier, so these are some of the reasons you might be interested…

1. Save Time & Reduce Human Error

Manual error is one of the largest causes of loses with forex traders, mostly in the retail sector. By completely automating the copier accounts, presenting the risk measures and account management features, you completely remove the chance of human error taking place on the copier accounts. Let alone the fact that having the process fully automated is going to save you a huge amount of time everyday – especially if you have 4 or 5 accounts on the go at once.

2. Take On Prop Firm Accounts

The best use of Social Trader Tools platform is to trade prop firm funds. If you’ve read our Best Prop Firms ListOpens in a new tab., you’ll know that prop firms are letting traders have accounts of even over $200,000, in exchange for a profit split. By using the trade copier, you can copy trades from a master account onto a whole portfolio of funded accounts to maximise the amount of growth in your portfolio. Let’s look at this example…

You would still only be having to open, manage and close positions on your personal trading account. Meanwhile, Social Trader Tools is copying your trades onto all of your funded accounts which will massively increase the amount of profits you take out at the end of each month – if you’re profitable, of course.

3. Sell Your Trades

If you’re a profitable forex trader, you could sell your trades to investors to make a small extra profit per trade, or on a subscription basis. All you would need is the MetaTrader accountOpens in a new tab. of the investor, and you could sign them up onto the trade copier. You wouldn’t even have to see their accounts again, once it’s setup in the cloud all of the work is being done automatically and you just keep trading as you normally did. This can be a great way for traders to earn additional profits but it’s important to look at regulations of trading investors capital – to avoid this, I’d recommend using a prop firmOpens in a new tab..

4. Manage Risk On A Portfolio

By having a trade copier at your disposal, you’re able to spread risk different across multiple accounts leading to potentially much better diversification and results. For example, the majority of forex traders are going to use 1% risk per trade, potentially moving up to 2%. You could keep your main account on 1% risk, then have copier accounts running 5-10% risk, on much lower capital. Although they are much higher risk, they will only amount to a small percentage of your portfolio and be running completely automated. They could grow vastly during large winning streaks and during great risk to reward plays.

5. De-Risking Brokers

By using a trade copier, you can reduce the risk of a broker scamming you, taking your money or going under. With more established brokers like IC MarketsOpens in a new tab., the risk of this is fairly low anyway but when you’re playing with more unregulated brokers like HugosWayOpens in a new tab., the risk becomes much greater. You could use the trade copier to split your accounts, for example:

This way, you’re able to copy your trades automatically onto the other brokers and limit your potential losses, should the worst happen.

Social Trader Tools Plans And Pricing

Pricing wise, Social Trader Tools is going to set most traders back around $60, to copy trades onto 5 accounts at once. Traders with smaller operations could get away with the standard $20 per month package which will cover you for 2 accounts. Traders running signal services or managing investors funds are more likely going to need the premium package, which covers 20 accounts for $220. It’s worth knowing that if you need more than 20 accounts on your trade copier, more packages are available.

These prices are honestly very competitive compared to some on our Top Forex Trade Copiers ListOpens in a new tab.. Although you’re able to copy trades to many more accounts with Local Trade CopierOpens in a new tab. for instance, to make it viable to run at scale you would also need to purchase a Forex VPSOpens in a new tab.. Whereas, with Social Trader being a completely cloud hosted platform, there’s no additional costs for hardware or VPS providers to worry about.

Social Trader Tools Reviews – What Are Traders Saying?

If you’ve read any of our reviews from our Best Trade Copiers ListOpens in a new tab. or even our Top Prop Firms ListOpens in a new tab., you’ll know that we usually like to read the reviews of other traders around the world, incase they have had a different experience to us. Usually, companies will have a huge amount of reviews on TrustpilotOpens in a new tab. and ForexPeaceArmyOpens in a new tab., which is where we usually take a look.

Social Trader Tools has no reviews on either platforms, which is rare and almost slightly worrying. With that being said, they do have a range of testimonials on their own website from traders and fund managers having a lot of success with the platforms offering. I personally like to look at reviews more on third party sites, rather than a companies own website where they can potentially cherry pick the good reviews.

Hannah ForexOpens in a new tab., a fairly well known FTMO funded traderOpens in a new tab. mentions a fair amount about her Social Trader Tools copier in this YouTube video, so if you’re looking for the opinions of other traders – give it a watch!

In Conclusion – Is Social Trader Tools Legit?

In short, Social Trader Tools is a great platform for traders looking to utilise a trade copier and have all of their accounts in one place. Although it’s more pricey than alternatives like MT4 CopierOpens in a new tab., it’ll save a lot of time seeing as it’s cloud based and you’re setup in about 5 minutes. This really is a great tool for fund managers and traders looking to take on more trading accounts.

If you have any experience with this platform please do drop a comment down below – I’d love to hear your experiences.

Kyle Townsend

I've been trading forex full-time since 2016. Over the last few years I have tried and tested all of the most popular forex brokers after being scammed by an unregulated broker back in 2017. I post my reviews to help others stay away from potentially high risk brokers!

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