But that doesn't mean social trading isn't a way to democratize trading, and open the door for the future George Soros's of the world.

Indeed, this week the AFR ran a story on Saxo bank – one of the globes best known retail FX and other market brokers offering a copy service. They noted:

The new portal aims to bring investors together by publishing the trades of registered users, enabling them to build a track record and alerting their “followers” of new transactions in real time. The founders believe it may even help discover the trading superstars of tomorrow.

I prefer to trade my own account, and to make my own mistakes, but for a growing number of traders and brokers out there copy trading is the way of the future.