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eToro social trading network

Discussion in 'Economics and Financials' started by Claymore95, Aug 15, 2013.

  1. Claymore95

    Claymore95 Working on it... Club Member

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    Does anyone else on here have an account with, or have heard of, eToro? It's basically a mix of a trading platform and a Facebook-like social network.

    You can trade Forex/Indices/Commodities like most trading platforms, but the unique selling point is you can also see what other traders are investing in and how they're performing...and then set up an automatic copy of any trades that a trader you like makes. I dabble in stocks and trading indices, but don't know much about Forex, and as that's what most of the users on eToro trade in, it was a way for me to get exposure to Forex without the risk of me losing money just because of my inexperience.

    http://www.etoro.com/

    If anyone is interested in opening an account, then let me know before you do and I can refer you, you then get a $50 bonus when you deposit $100 in your account (honesty disclaimer - I also get a referral bonus!).

    There's also a practice account that's invaluable, I still use it today to 'audition' any traders I'm thinking of copying. If their trades do well in my practice account, they might get promoted to my real account!
     
  2. cuchulainn

    cuchulainn Táin Bó Cúailnge Club Member

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    Hattiesburg, MS
  3. Claymore95

    Claymore95 Working on it... Club Member

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    Edinburgh, Scotland
    Closed my account a few years ago. Not a negative against eToro, just that I took a step back from trading after a large loss on a separate platform and a personal life change made me have to re-evaluate my priorities!

    Didn't realise it was a platform that hadn't previously been available in the US, would have expected it to be something that would have gone down well over there. If it's not changed since I left too much, I would still recommend trying it, especially the dummy account function to give it a risk-free try.
     
  4. cuchulainn

    cuchulainn Táin Bó Cúailnge Club Member

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    Thanks for the feedback. Understand what you mean. I lost money years ago trying to trade options and got out of it myself. I work for one of the Big 4 now and they monitor my activities, so I have to be judicious with my financial investing.

    My son experiments with stuff like Robinhood, Acorns, Stash, etc... I'm trying to get him to put the majority of his money into a Vanguard Target date fund and something else like VTSAX, VTIAX, etc... or an emerging market fund, and to put disposable income into these sort of things that are more fringe.

    Robo-investing platforms do seem to be doing well though.
     

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