According to a company announcement, one of the top social networks in the industry, eToro, is announcing the launch of some additional incentives for the top trading leaders in the community. The company is establishing a “Popular Investor Program” warranting some traders the possibility to earn additional monthly cash.
They can qualify by sharing their trading strategies with the eToro community, responding to followers’ enquiries, stimulating debate and maintaining a consistent minimum base of 10 traders copying their trades with at least $100 each month.
The prerequisites for being included in the “Popular Investor Program” are a three month period of trading history, a connected social media profile and active trading every month or open positions carried over from the previous one.
Nadav Avidan, eToro’s head of communications, shared in the announcement, “The program appeals to investors at both ends of the scale; practiced traders who can profit by attracting copiers and new traders in search of a supportive environment. Those who make the most money from the program will be those who work hardest to perfect both their social and their trading skills.”
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The levels of the incentive are laddered depending on the consistency of trading results, the trader’s performance over the past one, three, six and 12 months and the number of followers he/she has.
The trade leaders of eToro will also enjoy rebates equaling 50% of their monthly spreads, and will continue receiving compensation from eToro’s Revenue Sharing Plan, which remains in place.
“We are rewarding the members of our community who make the biggest effort to become popular with their peers. Hard cash is on offer, but social traders know that by strengthening and contributing to the network they benefit all of its users, including themselves. What goes around comes around,” Avidan added.
Recently, eToro introduced trading on Russian ruble and Chinese yuan currency pairs, boosting the allure of its platform to copy traders and followers looking for exposure to more exotic currency pairs, while, coincidentally or not, last month Forex Magnates reported that the company had secured additional funding from Russian and Chinese investors.