Trading Communities

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Written By
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Written By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Edited By
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Fact Checked By
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William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Online trading communities offer an accessible 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.

We have recently launched a trading community here on daytrading.com and it is already off to a good start! Check it out, get involved and let us know how you like it so we can keep improving.

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:

Click a broker for details
  1. 1
    eToro USA
    Invest $100 and get $10
    https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

    Ratings
    4.3 / 5
    3 / 5
    3.9 / 5
    3.4 / 5
    4 / 5
    3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5

    $10
    $10
    SEC, FINRA
    Stocks, Options, ETFs, Crypto
    eToro Trading Platform & CopyTrader
    ACH Transfer, Debit Card, PayPal, Wire Transfer
    USD
  2. 2
    Pocket Option
    50% Deposit Bonus

    Ratings
    2 / 5
    3.5 / 5
    2.5 / 5
    3.5 / 5
    3.3 / 5
    3.3 / 5
    3 / 5
    3.5 / 5
    4 / 5
    4.2 / 5

    $50
    $1
    MISA
    Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
    Web, MT4, MT5
    Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash
    USD
  3. 3
    IQCent
    20% to 200% Deposit Bonus

    Ratings
    2.5 / 5
    3.3 / 5
    2.4 / 5
    4.3 / 5
    3.8 / 5
    2.5 / 5
    3 / 5
    2 / 5
    4.3 / 5
    4.1 / 5

    $250
    $0.01
    1:500
    IFMRRC
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    Online Platform, TradingView
    Credit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, Mastercard
    USD, EUR
  4. 4
    Videforex
    20% to 200% Deposit Bonus

    $250
    $0.01
    1:500
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    TradingView
    Skrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum Payments
    USD, EUR, GBP, AUD, RUB
  5. 5
    Pionex

    $0
    0.1 USDT
    FinCEN
    Cryptos
    Own
    Bitcoin Payments
  6. 6
    BinaryCent
    20% - 200% deposit bonus

    $250
    $0.01
    1:500
    VFSC
    CFDs, Forex, Stocks, Cryptos, Options, Commodities
    Own
    Visa, Mastercard, Debit Card, Credit Card, Skrill, WebMoney, Neteller, Bitcoin Payments, Wire Transfer, Perfect Money, Ethereum Payments
    USD
  7. 7
    RaceOption
    20% - 200% Deposit Bonus

    $250
    $0.01
    1:500
    Binary Options, CFDs
    TradingView
    Credit Card, Debit Card, Bitcoin Payments, Neteller, Skrill, Perfect Money, Mastercard, Visa, Ethereum Payments
    USD, EUR, GBP, AUD, RUB

This is why we think these brokers are the best in this category:

  1. 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.
  2. 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.
  3. IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
  4. Videforex - Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
  5. Pionex - Pionex is a crypto trading platform that specializes in trading robots, offering a variety of ready made bots and strategies to traders as well as integrated AI to help customize a strategy or come up with your own. These can be used on spot crypto markets as well as crypto futures.
  6. BinaryCent - BinaryCent is an unregulated binary options broker that offers 24/7 trading on forex, cryptos and stocks with payouts up to 95%. Despite its lack of regulation, this broker takes client security seriously and stores client funds in European banks. The broker also offers CFDs with very high leverage up to 1:500.
  7. RaceOption - RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.

eToro USA

"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."

Jemma Grist, Reviewer

eToro USA Quick Facts

Bonus OfferInvest $100 and get $10
Demo AccountYes
InstrumentsStocks, Options, ETFs, Crypto
RegulatorSEC, FINRA
PlatformseToro Trading Platform & CopyTrader
Minimum Deposit$10
Minimum Trade$10
Account CurrenciesUSD

Pros

  • The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
  • 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

Cons

  • Average fees may cut into the profit margins of day traders
  • There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
  • The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools

Pocket Option

"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."

Jemma Grist, Reviewer

Pocket Option Quick Facts

Bonus Offer50% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, Currencies, Commodities, Stocks, Indices, Cryptos
RegulatorMISA
PlatformsWeb, MT4, MT5
Minimum Deposit$50
Minimum Trade$1
Account CurrenciesUSD

Pros

  • Extremely fast and smooth sign-up process that takes less than 2 minutes
  • Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries

Cons

  • Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
  • You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available

IQCent

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "

Jemma Grist, Reviewer

IQCent Quick Facts

Bonus Offer20% to 200% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, CFDs, Forex, Indices, Commodities, Crypto
RegulatorIFMRRC
PlatformsOnline Platform, TradingView
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD, EUR

Pros

  • CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
  • The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%

Cons

  • IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
  • There's no automated trading support for algo traders
  • The market analysis is very basic with limited technical summaries and insights from analysts

Videforex

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

William Berg, Reviewer

Videforex Quick Facts

Bonus Offer20% to 200% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, CFDs, Forex, Indices, Commodities, Crypto
PlatformsTradingView
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD, EUR, GBP, AUD, RUB

Pros

  • Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent
  • Videforex regularly runs trading contests, offering great practice opportunities and cash prizes to beginners and experienced traders
  • Videforex allows you to enter positions with just ¢0.01

Cons

  • No MetaTrader 4 integration
  • The broker isn’t overseen by a trusted regulatory agency
  • US clients aren’t accepted due to legal restrictions

Pionex

"Pionex is an excellent option for crypto traders with an interest in cutting-edge AI like ChatGPT and automated trading."

William Berg, Reviewer

Pionex Quick Facts

Demo AccountNo
InstrumentsCryptos
RegulatorFinCEN
PlatformsOwn
Minimum Deposit$0
Minimum Trade0.1 USDT

Pros

  • Supports crypto derivatives via futures trading
  • Low trading fees compared with other major exchanges at 0.05% maker and taker
  • Powerful integrated AI chatbot 'PionexGPT' helps users programme trading bots on Pine script

Cons

  • Limited contact options
  • Withdrawal fees and limits may apply
  • No demo account

BinaryCent

"Traders who want a reliable binary options broker with a streamlined platform and high payouts should try out BinaryCent."

Tobias Robinson, Reviewer

BinaryCent Quick Facts

Bonus Offer20% - 200% deposit bonus
Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Cryptos, Options, Commodities
RegulatorVFSC
PlatformsOwn
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD

Pros

  • Simple and straightforward proprietary platform for binary options trading
  • Accepts a wide range of funding methods, including cryptos and e-wallets
  • Trade binary contracts from $0.10 allowing trading opportunities for all budgets

Cons

  • Not available to traders based in the US
  • The $250 minimum deposit is higher than most binary options brokers
  • Not overseen by any reputable regulator, raising risks and reducing customer protections

RaceOption

"RaceOption will appeal to traders new to binary options looking for copy trading, contests and 24/7 customer support. Experienced traders will also appreciate the account-based perks and bonuses."

William Berg, Reviewer

RaceOption Quick Facts

Bonus Offer20% - 200% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, CFDs
PlatformsTradingView
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD, EUR, GBP, AUD, RUB

Pros

  • High payouts on popular underlying assets up to 95%
  • Sign-up bonuses from 20%, plus weekly trading contests and prize giveaways
  • Flexible weekend trading available plus 24/7 multilingual customer support

Cons

  • Limited educational resources
  • $250 minimum deposit is higher than other binary options brokers
  • Withdrawal thresholds apply

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. Some services charge a fee which helps to deter trolls.

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.