Social Trading refers to the popular phenomenon of traders interacting with other traders when making trading decisions.
Social trading combines aspects of social media with online real-time trading in financial markets.
Social trading ranges from traders using modified social platforms to discuss their trades and strategies, to copying other traders’ exact trades or portfolios.
This is why “social trading” is a common umbrella term for copy and mirror trading strategies.
Traders “copy” or “mirror” the actions of other traders.
Brokers often allow experienced traders (often called "leaders") to allow novice traders (called "followers") to copy their trading strategies and earn a percentage of the copying trader's profits.
Given the recent popularity of social trading and its effectiveness in helping brokers increase trading volume among their client base, some Forex brokers have even rebranded as “Social Trading Brokers” or “Social Trading Platforms”.