Intro and winners
Top 5 social trading platforms in the United States in 2023
- eToro is the best social trading platform in 2023 - Free stock and ETF trading. Seamless account opening. Social trading.
- TD Ameritrade - Low trading fees (free stock and ETF trading). Superb desktop trading platform. Great customer support.
- tastyworks - Low trading fees. Great educational materials. Good research tools.
- AvaTrade - Easy and fast account opening. Free deposit and withdrawal options. Great research tools.
- FXTM - Superb customer service. Great educational tools. Digital and fast account opening.
How did BrokerChooser select the best social trading platforms?
- We checked whether the broker is overseen by a trusted regulator,
- Compared fees (including spreads, withdrawal fee, commission),
- Ranked account opening factors (such as account opening time, minimum deposit),
- Checked the quality and user-friendliness of their social trading services,
- Opened an account and tested the platform (charting, features, usability) with real money.
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Best social trading platforms
Overview of the best social trading platforms
While many brokers that provide social trading offer an excellent service, the ones in our toplist go the extra mile.
| Broker | Markets and products score | Minimum deposit | Account activated in | Credit/debit card deposit |
|---|---|---|---|---|
| eToro | 4.7 stars | $10 | 1 day | Yes |
| TD Ameritrade | 3.9 stars | $0 | 1-3 days | No |
| tastyworks | 3.3 stars | $0 | 1 day | No |
| AvaTrade | 2.3 stars | $100 | 1 day | Yes |
| FXTM | 2.7 stars | $50 | 1 day | Yes |
Best social trading platforms
Fee comparison at the best brokers for social trading
In most cases, the key broker selection criteria is how much you have to pay for a trade in spreads, commission and other trading costs, so we collected the fees for the most important assets in the table below to help with your calculations.
| eToro | TD Ameritrade | tastyworks | AvaTrade | FXTM | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | - | - |
| UK stock | $0.0 | - | - | - | - |
| EURUSD spread | 1.0 | 1.3 | - | 0.9 | 0.5 |
We collect data regularly - please check the tooltip for the date of the data collection.
If you are unsure how brokerage fees work, check out our article on the various fees, charges and costs.
Best social trading platforms
Other fees at social trading platforms
Other fees consist of charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
| eToro | TD Ameritrade | tastyworks | AvaTrade | FXTM | |
|---|---|---|---|---|---|
| Account fee | No | No | No | No | No |
| Inactivity fee | Yes | No | No | Yes | Yes |
| Withdrawal fee | $5 | $0 | $0 | $0 | $3 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
Best social trading platforms
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And now, let's see the top brokers for social trading one by one, starting with the winner, eToro.
#1 Best social trading platforms
eToro
Recommended for traders interested in social trading (i.e. copying other investors’ trades) and zero-commission stock trading
| eToro snapshot | |
|---|---|
| Minimum deposit | $10 |
| Markets and products score | 4.7 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, China UnionPay, Klarna, POLi, iDEAL |
| Withdrawal fee | $5 |
| Overall fee score | 4.2 stars |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of eToro services, check out our review for 2023 |
#2 Best social trading platforms
TD Ameritrade
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| TD Ameritrade snapshot | |
|---|---|
| Minimum deposit | $0 |
| Markets and products score | 3.9 stars |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Overall fee score | 4.1 stars |
| Inactivity fee | No |
| Read review | For a detailed analysis of TD Ameritrade services, check out our review for 2023 |
#3 Best social trading platforms
tastyworks
Recommended for options and futures traders focusing on us markets
| tastyworks snapshot | |
|---|---|
| Minimum deposit | $0 |
| Markets and products score | 3.3 stars |
| Deposit method | Bank transfer |
| Withdrawal method | Bank transfer |
| Withdrawal fee | $0 |
| Overall fee score | 4.2 stars |
| Inactivity fee | No |
| Read review | For a detailed analysis of tastyworks services, check out our review for 2023 |
#4 Best social trading platforms
AvaTrade
Recommended for forex and cfd traders looking for an option to use metatrader platforms
| AvaTrade snapshot | |
|---|---|
| Minimum deposit | $100 |
| Markets and products score | 2.3 stars |
| Deposit method | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, Klarna, Webmoney, POLi, Boleto, Perfect Money |
| Withdrawal method | Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, Klarna, Webmoney, POLi, Boleto, Perfect Money |
| Withdrawal fee | $0 |
| Overall fee score | 3.7 stars |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of AvaTrade services, check out our review for 2023 |
#5 Best social trading platforms
FXTM
Recommended for forex traders familiar with the metatrader platform
| FXTM snapshot | |
|---|---|
| Minimum deposit | $50 |
| Markets and products score | 2.7 stars |
| Deposit method | Bank transfer, Credit/debit cards, Skrill/Moneybookers, Neteller, Western Union Quick Pay, Dotpay, Bitcoin via Skrill, PayPal |
| Withdrawal method | Bank transfer, Credit/debit cards, Skrill/Moneybookers, Neteller, Western Union Quick Pay, Dotpay, Bitcoin via Skrill, PayPal |
| Withdrawal fee | $3 |
| Overall fee score | 3.9 stars |
| Inactivity fee | Yes |
| Read review | For a detailed analysis of FXTM services, check out our review for 2023 |
Best social trading platforms
FAQ
How to find the best social trading platform?
The key aspects to consider when choosing a broker for social trading is the availability of this feature. Regulation also plays a major role. Make sure you always select a broker that is licensed or overseen by a top-tier regulator, such as the SEC in the US, the FCA in the UK or BaFin in Germany. Check to see if the broker accepts clients from your country of residence and keep an eye on costs and charges.
What is a social trading platform?
Social trading is a form of investing whereby you copy the investment strategies of others using copy trading or mirror trading. It's suitable especially for people who don't want to spend too much time trying to find good trading opportunities or strategies. A social trading platform is a service that, in addition to normal trading, lets you copy other people's trades.
Want to understand social trading better?
Check out this article written by our broker and trading experts:
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