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Social networks have seen tremendous growth during the age of the internet. Facebook, Instagram, Snapchat, and now even TikTok have billions of users sharing content. At the same time, social networks appear to be seeing an evolution of sorts. Users are slowly spending less screen time on large social networks in exchange for focused, more niche style social networks.
In the topic of personal finance and stock investing, a social network can bring a ton of value. To bounce ideas of other traders in real-time can give you the insight you need to save yourself from making a money losing decision. At the same time, it is a way to share knowledge and ultimately improve your investing strategy. The dark side of a stock investing social network, however, is that if you join the wrong one, you may be a part of community with a negative culture that scheming pump and dump tactic, or just has an influx of false information.
In case you’re on the look out for a social network for stock traders, this list will have you covered. We scoured all of the corners of the internet to share our findings with you!
Full Discloser: Hashtag Investing is itself a community for stock investors. The intent of this post is to spread light on other communities as well as each have their own unique characteristic. If you own a community and would like it listed please contact us.
The Ultimate Guide of the Best Social Networks for Stock Traders
By far the largest social network for stock investors and traders alike. Stocktwits has grown tremendously since the great recession in 2008. For tons of content, millions of users, and custom built tools for traders, StockTwits is the place to be. One of the downsides of a social network like StockTwits is that it has tons of spam and bots. Also, it’s impossible to find valuable knowledge sharing content as you are restricted by a character limit on your post.
Hashtag Investing is a younger social network that was just launched in 2019. With over 2000 members from around the globe, Hashtag Investing is quickly becoming the highest quality social network for stock traders and investors. As it is a younger community, content and engagement is still improving each month. If you are looking for an authentic community with valuable and in-depth discussion then try out Hashtag Investing.
eToro is the number one player when it comes to a social trading platform. That essentially means that users are able to actually copy traders of people they follow. Their network is quite large and also focuses a decent amount on crypto traders. They currently are not available to Canadian traders. If you are a Canadian looking for an eToro alternative you can read our suggestions here.
SeekingAlpha is a great tool for investors to follow prominent traders. With the ability to follow and read articles of seasoned veteran traders, you will be able to learn the reasoning behind certain stock selections and trades. One weakness of SeekingAlpha is that it doesn’t have a great way of connecting all members to each other. It is more so a platform for influencers to share their insights to their own audiences.
Twitter is a general social network which is known for quick information and news sharing. That being said, FinTwit (the financial information on Twitter) is pretty valuable as you can get information from some of Wall streets brightest and finest. The one thing to keep in mind with Twitter is that their can also be much false information that is easily spread. Twitter also has great finance memes.
Facebook might be viewed as an evil company that is exploiting data and privacy of their users. We agree, however, Facebook groups still offers tons of value to offer for the time being (until all the users leave once and for all). You can find groups related to any specific topic within the finance space.
This Options Discord Chat is The Real Deal
While the internet is scoured with trading chat rooms, many of which even charge upwards of thousands of dollars to join, this smaller options trading discord chatroom is the real deal and actually providing valuable trade setups, education, and community without the noise and spam of the larger more expensive rooms. With a incredibly low-cost monthly fee, Options Trading Club (click here to see their reviews) requires an application to join ensuring that every member is dedicated and serious about taking their trading to the next level. If you are looking for a change in your trading strategies, then click here to apply for a membership.