How brokerages are integrating social networking features

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There has been an increase in social commerce over the past few years, and it is not limited to a specific region of the globe. This is a phenomenon that has been observed all over the world.

This is something that can also be seen on social media platforms, with more and more average investors discussing their trades and investments with their friends and followers.

Much of the credit for this can be attributed to the rise and vast success of trading apps that have, in a way, democratized trading.

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They allowed anyone to start trading. A Public.com review shows how social trading features can increase engagement and provide a unique selling point for certain services.

But as you can understand, where there are too many fish in the pond, there is bound to be competition. This has led brokerages to choose to add many new and exciting features that make their app much more user-friendly.

And if you look closely, many of these features are social media focused. They have become more of a social trading platform. Here are some common ways brokerages have incorporated social trading features to stand out from their competitors.

copy trade

Copy trading is a kind of trading strategy in which a trader simply copies another trader’s investment with his permission.

Now, it’s a typical strategy for hobby traders and many retail investors to make some quick money without spending a lot of time researching stocks and cryptocurrencies. There is also a caveat to this because one is hedging his bets on someone else who is performing well in the market with his trades.

However, it is something that many investors like to apply, and brokerages understand it quite well. Now, many brokerage apps offer copy trading functionality right on the app where one can request access to view another person’s trade.

Alternatively, there are also features to make their trade available to the public.

News

Up-to-date information is of paramount importance in trading, whether it is stocks or cryptocurrency.

There are many business news portals that an investor can take advantage of. But what if they don’t even need to exit their app and get updated information?

Now, this is something that is possible with many brokerage apps opting for syndicated feeds to help their user make proper trades. This is an invaluable addition to the brokerage app.

Social feed

The personalized Social Feed has always been slowly but surely incorporated by brokerage apps. Since any broker would prefer more trades to be made through their platform, it is no surprise that they allow their users to share their views on the platform.

A social feed where one can follow friends, family and even top investors on the platform is a successful idea that is used by many brokerage apps. This social feed is tailored according to the trading and investment interests of the user.

So no one can forget their social media channels for advice and to hear the views of top investors when they can find it all right on their brokerage app.

Chat with friends

Don’t you hate having to capture a screenshot of a potential trade and then share the information with your friends on another app? Yes, brokerages understand this as well, i.e. you will find chat functionality in brokerage apps these days.

Now all chatting, chat sharing, etc. can be done in one place and without the need to capture everything. Users can now share their favorite stock information, news articles, and more in their app. The only thing you have to do is add their friends to their profile so you can chat with them.

Learn more about investing

Investing is a difficult task, something no one would deny. There are so many things an investor needs to learn before they can start trading. Brokerage apps would like to break down this wall and make people more aware of how they can trade on such platforms.

This is why you will find many brokerages that invest in educating their users on how they can trade on their platform and what signs they should look out for.

They do it through their YouTube channel or even have live webinars where you can ask the experts questions, and they would help them out. The more informed their users are, the more transactions they will make on the platform.

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