Get up to 25% off trading fees: sign up with code Bestrader. Join Fomo here (opens in a new window). Fomo's standard trading fee is about 0.5% per trade, so the discount adds up fast when you trade often.
Fomo turns trading into something social. Instead of trading in isolation, you can follow other traders, watch their moves in a live feed, and use a leaderboard to find people worth learning from. Used well, it is a genuine edge. Used badly, it is a recipe for chasing other people's trades into losses. Here is how to follow traders the smart way.
The social tools you get
Fomo's social layer has three main parts:
- The leaderboard: a ranking of traders by performance, so you can find candidates to follow.
- The live trade feed: real-time positions and moves, so you can see what is actually happening, not just talk.
- Follow and notifications: track specific traders and get alerts on their activity.
Following is lighter than copy trading. When you follow, you watch and get notified. You still decide whether to act. If you want their trades mirrored automatically, that is copy trading, which carries more risk.
How to pick who to follow
Treat following as building a watchlist of people, not idols. Look for:
- A real track record, not one viral trade that spiked their rank.
- A style you understand. If you cannot follow why they enter and exit, you will panic at the wrong time.
- Sane risk. Someone who survives drawdowns teaches more than someone on a hot streak that will end.
- Transparency. Live positions you can actually see beat vague flexing.
Turn following into an edge, not FOMO
The trap is obvious from the app's name. Seeing someone else's green trade triggers the urge to jump in late. Avoid it:
- Use follows as research, not signals. A trader buying is information, not an instruction. Do your own quick check first, like our spot a meme coin before it pumps routine.
- Never skip your own sizing. Whatever they do, size the trade to your account.
- Watch how they exit, not just enter. The exit is where most beginners lose. Learn the full trade.
- Follow a few, not fifty. A focused set you understand beats a firehose of noise.
Following vs copy trading
| Following | Copy trading | |
|---|---|---|
| What happens | You watch and get alerts | Trades mirror automatically |
| Who decides | You, every time | Your settings, then automatic |
| Risk level | Lower, you gate each trade | Higher, you inherit their risk |
| Best for | Learning, ideas | Hands-off mirroring (with care) |
Beginners should start by following, learn from what they see, and only consider copy trading once they understand a trader's style and can size it to their own account.
Keep costs down as you act
If following leads you to trade more, fees add up. Fomo's standard fee is about 0.5% per trade, and code Bestrader through our Fomo link cuts that by up to 25%. Check your real cost with the fee calculator, and if you are new to the app, start with the Fomo beginner's guide.
Bottom line
Following traders on Fomo is a great way to learn and find ideas, as long as you treat it as research rather than signals to chase. Pick a focused set with real track records, always do your own check and sizing, and study exits as much as entries. Sign up with code Bestrader for up to 25% off fees, and only risk what you can afford to lose. Nothing here is financial advice.