What is Social Trading? Introducing SoFi Social
Social trading is a form of trading where investors can observe and learn from the investment behavior and strategies of others on the same trading platform.
Many investment platforms and apps offer social trading and some even allow you to mirror the investment strategies of other users. SoFi also has social trading which we call SoFi Social.
How does Social Trading work?
Social trading works by providing users of an investment platform access to see what other users are trading. New and advanced technologies have made it easier than ever to share this information with others.
SoFi Social has a leaderboard feature where you can see the top twenty investors on the SoFi app. This is updated daily and the rankings are determined by scores based on profit, diversification and balancing Return vs Risk. You can tap into each SoFi member’s profile to get a deeper dive of what they have bought and sold and what profits they have generated.
You can follow these top traders in your SoFi app so you’ll never miss out on a trade.
SoFi Social also has “feed”. During market hours a feed is constantly updated to show the trending stocks and what others are buying and selling on SoFi so you can keep up to date and never miss out on a trade.
You don’t need to worry about privacy. We do not reveal real names or sensitive personal information publicly of any member on SoFi Social and you can always opt out of SoFi social anytime by updating your settings.
What are the Benefits of Social Trading?
SoFi Social gives you access to a community of investors so you can learn from them and discover investment trends. You can analyse trading habits and see which strategies are successful for the top members. This can be extremely useful for getting market sentiment, improving your investment strategy, helping you potentially become a better investor.
At SoFi we also think that social trading is great for investors who might otherwise be put off or intimidated by traditional jargon heavy investment information. Social trading provides a more easy and friendly entry avenue for investors to learn from other investors, and find new investment opportunities.
Should you use Social Trading?
At SoFi we believe in making investing simple and accessible to everyone. Social trading is one of the ways in which everyone, no matter what level of investing experience, can learn from others and become a better investor.
Start your social trading experience with SoFi Social today.
About SoFi Hong Kong
Headquartered in San Francisco, California, SoFi is one of the largest and fastest growing fintech companies in the US. Join over 4 million members around the world who put their trust in SoFi.
SoFi Hong Kong is Hong Kong’s first SFC licensed brokerage (AXL143) with $0 commission, $0 hidden fees, and $0 membership fees. Get the SoFi Hong Kong app and trade over 15,000 US and Hong Kong stocks for free. For iOS and Android.