eToro launches CopyTrader
eToro continues to innovate with CopyTrader, a new function in the OpenBook social networking platform. CopyTrader allows a user to

eToro continues to innovate with CopyTrader, a new function in the OpenBook social networking platform. CopyTrader allows a user to follow other successful traders on the eToro social network. This is a bold move by eToro — they are one of the first brokers in my knowledge to allow such a feature. Social networking is here to stay and those who embrace it will come out ahead. There are several players who are leading the social networking/trade following aspect in the forex markets— we’ll analyze 3 of them today for our readers.
There are a couple of reasons CopyTrader stands out. eToro provides the social networking platform for its own brokerage clients and, as a result, has much greater control over execution. According to Yoni Assia, CEO of eToro, “We have systems in place that are committed to minimal slippage and should give the investor the same P/L as the original trader.” From my own personal experience of talking to countless traders, it is quite common for a system / manager to show profitable results in their live account, but not in the investor’s account as a result of slippage, spreads and volatility. Currensee for instance is an Introducing Broker amongst other things and relies on multiple brokers as clearing partners. When an investor follows another trader using CopyTrader, he/she can be assured there is another human being on the other end placing trades and not an automated system. Assia adds, “Investors using our system can have a real person trading their funds. They can leave comments or see comments left by other investors for any particular trader. This makes the trader more responsible for their trades and creates an environment of trust.” Lastly, eToro has decided not to charge any fees for investors using their CopyTrader function. Investors only pay the spread during execution and no other management or performance fees. eToro is basically offering a managed account program without the high fees.
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
Suggested articles
Why Your Enterprise’s Finances Rely on Employee TrainingGo to article >>
* eToro may have systems in place to minimize slippage however eToro is a market maker and cannot guarantee better slippage than other platforms.
** Execution subject to slippage, broker spreads, volatility or other market conditions.
Client retention is a big issue in the forex industry; I see this latest move by eToro creating a win-win situation for the company and its clients. I know other players are not far behind in launching similar social networks. eToro will need to capitalize on this edge as quickly as they can.
Grab your latest copy of the Forex Magnates Retail Forex Industry Report for Q1 2011.
Leave a Reply
I have been losing money with Tradency and zulu because of fees. all system looks like they are making money but they dont include fees. I will definitely be trying out this one. Has anybody tried copy trade yet?
It would be nice to see a larger article comparing the different strategy supermarkets all compared together.
1st ) Thing is that your post is too much late ,nearly 15 days late
2nd )These types of services are use less ,because no one know about other trader’s Money management and his trading style.
“(‘.’)”
Hey George, the Forex Magnates quarterly report for Q2 2011 will have a detailed comparison study and much more. Make sure you get your copy !
That is a good idea George. There are more and more sites offering this service in one way or the other now.
Hey Jakob, like I mentioned to George: We have done a detailed side by side analysis for our Q2 2011 quarterly report. Make sure you get your copy !