Trading Communities

Online trading communities offer a secure environment where investors can interact with each other. Users can learn new forex trading techniques, swap crypto tips and share stock market insights. This article explains how day trading communities work, their pros and cons, plus what to look for in chat rooms and forums. We also list the best online trading communities in 2024.

Brokers with Community Features

Some brokers offer social trading features and forums where traders can learn and discuss trading. These are the top brokers for traders looking for a community:

#1 - eToro USA

Why We Chose eToro USA

eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

- DayTrading Review Team
  • Instruments: Stocks, Options, ETFs, Crypto
  • Regulator: SEC, FINRA
  • Platforms: eToro Trading Platform & CopyTrader
  • Min. Deposit: $10
  • Min. Trade: $10

Pros

  • The online broker offers an intuitive social investment network with straightforward copy trading on cryptos
  • eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
  • The $10 minimum deposit and straightforward account opening process means beginners can get started quickly

Cons

  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
  • There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
  • There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools

#2 - Pocket Option

Why We Chose Pocket Option

Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

- DayTrading Review Team
  • Instruments: Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
  • Regulator: MISA
  • Platforms: Web, MT4, MT5
  • Min. Deposit: $50
  • Min. Trade: $1

Pros

  • The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
  • The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
  • Extremely fast and smooth sign-up process that takes less than 2 minutes

Cons

  • Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month

All Brokers with Social Trading Features

Independent Trading Communities

Independent trading communities are not associated with a specific broker and might be a good choice for traders that use multiple brokers.

Online Trading Communities

OneOption helps retail traders navigate the stock and options market with advanced software, chat rooms and live signals.
The Stock Whisperer is a trading education platform created by a financial consultant that claims a 93.6% success rate. The platform has a wide range of trading rooms, courses and services on offer.
BKForex is a subscription-only trading academy, offering educational resources and courses to retail traders.
Epic Trading provides international forex educational resources and MLM opportunities for a monthly fee.
Forex Social is a Brazilian educational platform and trading community created to help forex investors hone their skills.
Warrior Trading is a community hub and educational platform with sophisticated content and extensive market insights.
Humbled Trader is a community of investors that provide educational resources and personal development tools.
Investors Underground is a top-rated trading community, offering chat rooms, webinars and training courses in a supportive environment with a choice of price plans.
Bullish Bears is a US-based trading community offering educational content, mentorship and an active community for investing advice, insights and learning.
Bear Bull Traders is a premium trading community with a range of educational material and experienced mentorship otions.
FIX Trading Community is a non-profit collaborative organisation formed of leading financial institutions across the world with a view to standardise all electronic trading communications.
Myfxbook is a leading forex trading community offering a range of tools from interactive charts to social investing.
ProTradingRoom is a chat room where users can share trading ideas on major financial markets, from forex and stocks to cryptos and commodities. Clients can also set up mobile trade alerts.
Traders Union provides reviews of trading brokers, education for beginners, and offers from partners.

Trading Communities Explained

Trading communities offer a safe space to learn new strategies and ask questions of experienced investors. There are a variety of trading chat rooms available, from broad and free of charge services to forums focussed on particular financial markets, such as forex.

Moderators actively police trading discussions to prevent scams and remove anyone causing trouble. Most services charge a fee which helps to deter trolls.

What is a trading community

Benefits

Online trading communities can provide a boost for new and experienced investors. Advantages include:

Drawbacks

Despite the benefits, there are some downsides to becoming part of an online trading community:

What To Look For In A Trading Community

There are several aspects you should take into account when choosing between different options:

Final Word On Trading Communities

Day trading communities are a great place to learn new strategies, test ideas and swap tips. They can benefit both new and experienced traders. However before you sign up, take into account any fees, read our reviews and check that the market you’re interested in is covered, be that forex, stocks or cryptocurrencies.

FAQ

What Is A Trading Community?

An online trading community is a forum or chat room where members can interact with each other. Users can ask questions and share market insights to help inform trading decisions.

What Is The Best Online Trading Community?

Some of the top online trading chat rooms include ProTradingRoom, Warrior Trading, Bear Bull Traders, BuySide Global, Shadow Trader, Discord and Benzinga Pro.

What Are The Benefits Of Using Trading Chatrooms?

Online chat rooms can help you find a community of like-minded traders. Retail day trading, in particular, can feel lonely so a place where you can find a mentor or explore ideas can be a useful resource.

Are Trading Communities Free?

Some chatrooms are free while others charge for their services. Paid-for providers typically charge a monthly or annual subscription with one-off charges for additional resources, such as one-on-one sessions with coaches or bespoke market insights.

Are Trading Communities Safe?

The quality of services vary and so too does the level of security. Chatrooms that aren’t adequately monitored can perpetuate the spreading of false or misleading information, meaning damaging trading decisions could be made. That’s why it’s important to fact-check and do your own research before acting on any tips.

Further Reading