Is copy trading the same thing as social trading?

The Similarities: copy trading and social trading involve automatically copying what another trader does and executing the same trades on your account.

The Differences: in copy trading, you cannot chat with anybody on the platform or interact with their posts (by interact I mean liking another persons trade, dropping comments on another persons strategy etc.). But in social trading, you can even form your own chat room and invite members or you join other chat rooms and share ideas. In social trading you can like another traders trades, you can drop a comment, and you can even share the trades/signals of another trader to your social media platform.

In copy trading you pay a fee to a strategy provider to copy their trades. However, in social trading, you join a community or chat room of traders and they share trading setups you can use for free.

In social trading, information is shared somewhat freely but in copy trading you just attach your account to another prsons own and mirror the trades, you may not be able to interact with the person you are copying.

Copy trading is you sitting back and letting what someone else trades on his account, be replicated in your account. Although you can choose to exit the copy trading relationship by unfollowing the strategy provider, thats about as much control as you get. Social trading has to do with someone sending you signals as we see on Telegram channels and you choose whether or not you will trade the signal.