Use Social Network Stock Trading for better results
I liked this article that discusses eToro, which is a 6 year old social media platform startup where users connect to collaborate on trading in international markets.
In this article, e-Toro claims 85% of their trades are profitable. That’s an impressive number considering international trading is a risky proposition for the average individual investor.
However, this platform delivers social linkage between a multitude of traders. The key benefit is that you can see what positions they are taking up or what they are going to purchase.
Beat the Market Makers
According to the article, the return on investment is quite high for participants and there is almost a crowd sourcing element that the user taps into as part of the engagement. Definitely worth taking note of this in the Financial Services Industry. Info-graphic here for a visual explanation of how this works.
More about eToro Social Network Stock Trading
MyCMO staff has been involved recruiting staff for eTorro. This is not an edge case business. They hire proper licensed finance professionals in their administration so that Anti-money laundering and KYC is properly accounted for.
The business offers I nice collection of Crypto Currencies to trade in addition to many highly illiquid stocks and ETFs. For those outside of the US, I could not find a way to actually withdraw Bitcoin to my own wallet. This is a negative with the risks of losing crypto on platform as has happened with other exchanges.
Cheers,
Rick
