Contract for difference (CFD) trading is a popular form of derivative trading that allows traders to speculate on the rising or falling prices of fast-moving global financial markets or instruments — including shares, indices, commodities, currencies, and treasuries — but it’s not without its risks. Even with the correct amount of knowledge and experience, CFD and traditional trading can result in substantial losses.
Luckily, social trading — a popular form of trading among younger generations that allows users to gain more profit with by socializing, communicating, and making use of limited holdings, referral programs, and bonus-and-copy systems — is on the rise.
In order to minimize risks and safely protect personal investments, stop-loss mechanisms have been developed. Let’s take a look at the three best systems utilizing such technology.
NAGA TRADER
NAGA TRADER stands out as potentially the best trading platform available today when it comes to social trading and investment protection.
NAGA TRADER features an Auto Copy function, which allows users to potentially increase their profits by automatically copying the best traders on the platform while diversifying their portfolios. By using Auto Copy, the odds of missing a winning trade are substantially decreased, as mimicking the most successful traders automatically is generally a successful plan.
NAGA TRADER also features NAGA Protector, which helps users limit their risk and secure profits automatically by setting secure profit and risk limits and letting NAGA monitor the trade — so users need not worry about it.
NAGA TRADER also features a robotic advisor called CYBO, which has been developed by experts to remove the emotional aspect of trading and utilize dynamic risk management and global diversification.
ZuluTrade
ZuluTrade allows users to monitor their accounts 24 hours a day, 7 days a week, and features the ZuluTrade Automator — an individualized personal assistant. ZuluTrade Automator watches and notifies users when “things happen” and is able to automatically execute any action that a user would otherwise do himself or herself.
ZuluTrade lets users create and execute their own automated rules, using an if-this-then-that logic, which allows users to build their own automated rules! However, for beginners, this may not be the most user-friendly experience and prove too difficult to be used effectively.
Plus500
Plus500 offers risk management tools which allow advanced traders the ability to use ‘Close at Profit’ [Limit] or ‘Close at Loss’ [Stop loss] rates, as well as Guaranteed Stops and Trailing Stops.
Plus500 is well-established and definitely built for pros, but is obviously for advanced traders and those with at least a solid amount of experience under their belts. It is not recommended for new traders or those who have only been trading for a short amount of time.
The market is evolving rapidly, and With more users trading mainstream financial as well as crypto assets, existing platforms are expected to make even more direct and developed updates to their technology as well as service offerings. It is strongly argued that these three powerhouses, especially the NAGA TRADER, will create a very strong competition for the new and rising trading platforms to generate profitable trades for their users.
What do you think about these three automated trading platforms? Which do you think is the best? Let us know in the comments below!
Images courtesy of NAGA, Shutterstock