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Social trading at Robinhood

Your expert
Adam N.
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1w ago
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Is social trading available at Robinhood as of February 2024?

No, social trading is not available at Robinhood.

My key findings in a nutshell
Adam Nasli
Financial Wizard | Trading • Safety • Market Analysis

I've thoroughly tested Robinhood services with our analyst team by opening a real-money account and these are my most important findings:

  • Social trading is not available at Robinhood, so you must use your own judgment to assemble your portfolio.
  • Social trading lets you see what other traders are doing and how their portfolios perform
  • Before you copy anyone, make sure their trading goals match yours
  • Be mindful of potential costs and risks such as too much leverage
  • Other research tools may be available if you don't want to rely on social trading only
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Robinhood is available in the United States

What is social trading?

Do you feel overwhelmed by the choice of stocks and other instruments out there? If you can't decide what to invest in or if you're worried that you'll make a wrong decision, it's a good idea to take your cues from more experienced or successful traders. The easiest way to do this is via social trading or copy trading.

Available at an increasing number of brokers, social trading lets you see what assets other people are trading; what their trading strategies are; and how much profit or loss they made over a specific period. Often, there's a forum where you can discuss each other's activity, just like you would on social media.

Copy trading takes this a step further. If you like someone's portfolio or trading strategy, you can simply copy it at the push of a button. It's like going to a restaurant where, instead of poring over a long menu, you'd tell the waiter, pointing to the table next to you, “I want to have what that guy is having!”

Looking for a broker that offers copy trading? Find the best broker for your needs in our list of the best social trading platforms in 2024.

How does social trading / copy trading work?

To find traders worth watching or copying, you can use a search or filter function at most brokers. You can narrow down your search using categories such as popularity, trading results over a specific period, risk score, or instruments traded. Once you have a shortlist, you can click each user's profile to read more about their trading strategies and see exactly what assets they hold.

If you fancy someone's portfolio, simply press the “copy” button (or equivalent), and set the amount you want to invest in it to create an exact replica. From then on, any changes made by the trader in their portfolio will be replicated in your own copy of it.

Keep in mind that just because you're investing in a trader's portfolio, it doesn't mean they handle your money to buy assets on your behalf. Your money is handled by the broker, just as it would be if you compiled a portfolio on your own. Also, you can exit (or add to) copied portfolios any time you want.

Things to watch when copy trading

Copy trading is easy, and often tempting for inexperienced investors. However, there are a few things to bear in mind if you want to avoid disappointment.

  • If you're interested in copy trading, it's best to choose a broker with a sufficiently large trading community.
  • Many social trading platforms are dominated by traders of leveraged products such as forex or CFDs, where there is significant risk of rapidly losing your money. Pay attention to what leverage levels are being used and set your exposure accordingly.
  • Be mindful of trading costs - these apply to you whenever the trader you're copying buys or sells an asset. Sometimes a separate fee is charged for access to the copy trading function.
  • Choose a trader to copy whose investment goals align with your own. If you're saving for retirement, it may not be wise to copy someone who professes to be “daytrading just for fun”, no matter how successful they may be.
  • Be aware that traders at some brokers may be incentivized to attract as many copiers as possible.

Other tools to help you pick the right assets

As Robinhood doesn't offer social trading, you'll need to rely on other research tools to make your investment decisions, such as analyst recommendations or market news. Let's see how Robinhood fares in this department.
Robinhood other tools for research
Research score
3.3 stars
Research user-friendliness
Fundamental data

Recommendation refers to experts at eToro giving advice for assets to buy/sell

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Further reading

Author of this article

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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