The coronavirus crisis was a breakout of a new revolution in the financial world as millions of users found themselves stuck in lockdown, signing up to trading apps and using the opportunity to explore the world of stocks and cryptocurrency, signaling a new change and approach to the financial world.
Like Bitcoin, Tesla, and the SPAC IPO, social media saw an exponential growth of over 300% across all mainstream in 2020, showcasing how strong the space has become. The main idea is to combine community interaction and investing.
As a result, this change has received a serious push from Gen Z and millennial generations. This revolution has been strongly powered by social media such as Reddit, X, Facebook, TikTok, and Instagram, as this community has driven up the investment of hashtags by over 4.2 billion views in the past few years.
The effect of social media has been unfathomable before now, as there has been high speculation of the transfer of wealth to Gen Zs and millennials by 2050, with an estimated growth of 70%, amounting to $60 trillion in the hands of these individuals inclined to the internet age.
Social Media’s Influence On Investing Behaviour
In today’s investing world, timing and information play a significant role in the financial market. With the emergence of technology, many social media outlets, such as X and Telegram, have become peddlers of information for the investment world, whether good or bad.
In this digitalized trading environment, many retailers and users have tons of information online to make their investment decisions, from social media community channels to news media to trading exchanges offering tools and strategies to help retailers make informed decisions on what trading system best fits their style.
Additionally, through social media like X, many retailers and Gen Z alike connect with professional traders in the industry who have gained much expertise for over 10 years and have become profitable by leveraging the financial market as a full-time endeavor.
The rise of social media has had a rapid influence on the hearts of many users today as there are simpler, quicker, and more efficient ways of disseminating information as regards the financial market.
A study shows that 80% of retailers are more inclined to source information online, while 30% of such users take investment information seriously. This is all thanks to easy access to the financial market’s data and new avenues of making money online.
A side note: although social media has positively influenced the financial market, like cryptocurrency and stocks, risks are also associated with this information and data due to finding genuine information and avoiding dubious persons and platforms aiming to manipulate users for their own selfish gains.
The tendency for retailers to follow and copy other experienced investors has become a spiral behaviour and has affected many in the cryptocurrency market. Users should take the time to source information and investment data from authentic sources.
Social Media Influencers Lure Gullible Gen Z With Fake Photoshopped PNL
The financial market witnessed a boom during the advent of social media buzz in the past few years. Despite such growth in the financial market, a problem has arisen with many fake, experienced traders or influencers out to deceive users and retailers with fake portfolios to amass much wealth for themselves.
These investors or traders with huge online followers of over 120k on X or YouTube rely on fake trading strategies as a way of projecting themselves as successful long-time traders with fraudulent claims of highly enormous profits on social media, claiming to help while looking to extort these gullible users of their hard-earned money.
This side of the social media world is all part of reality now, as information and activities are blown out of proportion. It has peaked with lightning speed, with many Gen Z looking for a quick-rich scheme or viewing the financial market as a means to get rich overnight.
With such practices becoming pronounced in the financial market and being aided by social media, financial regulators have struggled to catch up or try to curb these practices among fake trading influencers posing to infiltrate the market.
Could the rise of copy trading filter out fake traders from experienced traders, enabling retailers and other users to harness different strategies and profitability from experienced traders?
How Margex Copy Trading Eliminates The Fear Of Unthinkingly Following A Trader On Social Media Out Of False Pretence
Copy trading is a strategy that allows retailers and users to link a certain amount of their investment portfolio to a selected experienced trader and then replicate all trades automatically without monitoring the trades or worrying about the best strategy for better profitability.
All future trades under the experienced trader’s account are replicated without the user initiating subsequent trades, enabling users to compound gains while diversifying their portfolio to other investments or building their trading experience.
Margex copy trading eliminates the fear many retailers and users have from following large accounts on social media such as X and YouTube with no track records of trades executed. With Margex copy trading leaderboard, all trades, strategies, PNL, return on equity (ROE), followers, and trader’s equity.
This system employed by Margex is a big step toward enabling less experienced users to trade quickly and choose traders among a large pool of experienced professionals with good trading histories and the most traded assets among their strategies while eliminating the negative noise effect from social media.
Margex remains one of the top copy trading platforms, designed with its users in mind. It bridges the gap between real, profitable, and experienced traders while giving value to retailers looking to replicate their trade easily.
Spending over $3 million to redesign its platform has never been talked about enough as Margex pushes to give its users the best experience they can think of with additional features such as a zero-fee converter to enable swaps without additional cost and plans to introduce an ultra-modern wallet to enhance security and custody of assets in one place.
With the following 3 simple steps, retailers can access the Margex copy trading platform.
1. Create A Margex Account
Having an account with Margex opens the doors to endless profitability opportunities in copy trading with access to the best traders in the industry and guaranteed profitability.
2. Follow Profitable Expert Traders
An account with Margex enables users to access the copy trading leaderboard and all metric strategies of expert traders, giving them the information they need to make an informed decision about which trader to follow to automate their trades.
3. Allocate Funds
On confirming the desired trader to follow and allocating a set amount you wish to replicate, the Margex platform will instantly replicate subsequent trades by the trader in real time.
As low as $10 is the minimum amount Margex requires to participate in copy trading strategies.
The quest for financial freedom has birthed copy trading, a modern-day tool that promises the best trading experiences for retailers. With the Margex copy trading platform at the helm of this evolution, retailers and users have a better blueprint for becoming rich through copy trading. With an impressive track record and data-driven insight into profitability, Margex offers transparency and a ready performance metric away from social media pretence.
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