In this post I will be reviewing the FxStat social trading network where you can instantly connect with 250K+ traders, check any portfolio in the network, check expert advisors (EAs) results and read real time news in forex and other financial markets. FxStat can be integrated with any MT4 forex broker. It is useful for those who like to analyse trading performance in details not just from their own portfolio but from the activity of other traders. Think of it like Facebook but for forex trading, if you are already familiar with the popular social trading service myfxbook, FxStat is a similar service.
What is FxStat?
FxStat is a social network that enables traders from around the world to communicate, follow portfolios, read news, access comprehensive trading analytics, and copy top performing traders. Available on iOS and Android platforms, the FxStat technology allows the dynamic position monitoring and analysis of data in real time to enable traders to analyze their open positions without needing to refresh their performance pages. It also provides traders with the opportunity of mirror trading and signal following. FxStat’s products and services are compatible with the MetaTrader 4 platform. Launched in April 2010, the company is based in London, United Kingdom.
At FxStat, they help traders around the world get off the ground and connect with other successful traders and investors. They do this by creating great technology and by making it accessible to traders that previously wouldn’t have been able to find other traders globally. It all started with one performance page. The developers couldn’t find the easy-to-use website and application that tehy needed, so decided to build their own. After experiencing some success using it, they then realized that they could share this experience with others, and help them with trading online.
To date, FxStat.com has launched an impressive 15+ different interlinked applications with more than 1000 features — performance pages, web trading, social traders network, liquidity bridge, liquidity aggregator – a different social trading platform that is suitable for different needs and more.
FxStat can help traders understand the global FX market and offers various statistical and financial tools which would aid them in their approach. All-inclusive information is offered to the traders so that they can keep track of their activities. Members can share their trading activities allowing others to benefit from their expertise. The performance tool enables members to search for the ‘best’ traders.
You can track the trading records and portfolio of traders to analyse their trading data in real time. With FxStat you can link your trading accounts and forex robots to build a comprehensive online portfolio. You can even easily connect your results to Facebook and Twitter. FxStat is available on mobile for you to track forex statistics whilst on the go from your iPhone or Android mobile devices.
The Web trading platform allows you to perform trades using only a browser, it allows you access to your portfolio, another traders portfolio, news and charts, while operating MT4 in parallel, to give expert advisor trading simplicity.
You can copy trades by subscribing to a portfolio from other forex and stock traders. You can also provide your own portfolio for other traders to copy. There is also the FxStat forum where traders using the social trading network can discuss and share ideas with each other.
Users can set their account to follow other member’s trades and automatically execute them, becoming signal followers. In order to get FxStat’s approval as signal providers, traders’ accounts have to be proven real accounts and with a positive trading results history. These experienced investors are chosen by their followers using the analytics and performance comparison features. Users are still able to set their own trading rules while following a provider, like trading on a fixed lot, maximum open trades or maximum open orders, stop loss or maximum floating loss.
To sign up to FxStat, complete your details on the FxStat home page. You will then receive an e mail containing a link on which you should click to complete the registration process. Please note, if you are a trader looking to connect your account to fxstat.com, you will need to have a trading account operating via MetaTrader, FX Trade Station or Active trader.
Overall, I think there is a lot to like about FxStat. They focus on offering financial technology services to Forex Traders and aim to assist Forex Traders in developing a social networking platform through which they can exchange trading strategies and activities. Traders will have the opportunity to share ideas and opinions with like-minded professionals and can also seek the support and guidance of the renowned experts in the field.
FxStat along with FX Blue, MyFxBook and ZuluTrade is one of the top social forex trading social networks. It is very easy to use and has an abundance of features for analysing your own trading portfolio and other traders’ portfolios. You can also copy trading signals and provide your own signals for copying, all fully automated.
Of course, historical performance of all the trading systems on the FxStat platform are by no means any guarantee of future results. There are news articles and a discussion forum to keep you up to date with some of the latest happenings in the crazy world of forex trading!
FxStat is completely free to use for traders worldwide on any MT4 broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
FxStat provide you with the power to connect and share,and to make the trading world more transparent. Whatever you are – professional traders or newbies, whatever your trading or investment style is, FxStat can offer you the tools to take your trading further. Thanks to social trading networks such as FxStat which you can visit by using the link below.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.