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  • FIRST POST
    • dellboy102
    • By dellboy102 4th Sep 17, 12:18 PM
    • 532Posts
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    dellboy102
    Any experiences of Social Trading? (ZuluTrade, eToro etc)
    • #1
    • 4th Sep 17, 12:18 PM
    Any experiences of Social Trading? (ZuluTrade, eToro etc) 4th Sep 17 at 12:18 PM
    Hi All

    I've come across these social trading sites and thought i'd ask if anyone here has tried them and what their experience has been.

    I'm not actually looking to invest in it myself at the moment (for my current investment goals will probably go for VanGuard LFS 60 in my ISA) but I am curious from people who have tried it how they found it as will be useful info for the future
Page 1
    • Malthusian
    • By Malthusian 4th Sep 17, 3:24 PM
    • 3,299 Posts
    • 5,007 Thanks
    Malthusian
    • #2
    • 4th Sep 17, 3:24 PM
    • #2
    • 4th Sep 17, 3:24 PM
    Wrong forum. People who have no money because they've thrown it away on online bookmakers don't have any reason to hang around a "Savings and Investments" forum.

    As with all "trading" it's not investment, it's gambling, and the house always wins.

    You are no more likely to make money by copying what other mugs are doing than by betting on whoever the Racing Post tips to win the 3.30 at Epsom.

    A cynic would question how you would verify that the "top traders" these platforms claim you can get rich quick by following even exist.

    Trustpilot makes interesting reading.
    • dellboy102
    • By dellboy102 4th Sep 17, 3:50 PM
    • 532 Posts
    • 95 Thanks
    dellboy102
    • #3
    • 4th Sep 17, 3:50 PM
    • #3
    • 4th Sep 17, 3:50 PM
    Thanks Malthusian, those were my initial thoughts too but thought i'd ask the question to see if anyone has actually tried it even as a gamble.
    • mark13
    • By mark13 7th Sep 17, 9:06 PM
    • 284 Posts
    • 130 Thanks
    mark13
    • #4
    • 7th Sep 17, 9:06 PM
    • #4
    • 7th Sep 17, 9:06 PM
    I've tried n eToro virtual account following some successful traders, seemed a good way to make money however no such luck, money just got sucked away so decided against using real money.
    Win Dec 2009 - In the Night Garden DVD : Nov 2010 - Paultons Park Tickets :
    • Malthusian
    • By Malthusian 8th Sep 17, 10:48 AM
    • 3,299 Posts
    • 5,007 Thanks
    Malthusian
    • #5
    • 8th Sep 17, 10:48 AM
    • #5
    • 8th Sep 17, 10:48 AM
    I've tried n eToro virtual account following some successful traders, seemed a good way to make money however no such luck, money just got sucked away so decided against using real money.
    Originally posted by mark13
    I'm surprised by that, the way it usually works is that your virtual portfolio delivers terrific imaginary returns, then you invest real money and lose your shirt.

    But to be fair I'm thinking more of binary options platforms whereas eToro is a legitimate bookmaker.
    • george4064
    • By george4064 8th Sep 17, 11:04 AM
    • 857 Posts
    • 910 Thanks
    george4064
    • #6
    • 8th Sep 17, 11:04 AM
    • #6
    • 8th Sep 17, 11:04 AM
    Never tried it, wouldn't touch them with a bargepole.
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

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    • sorcerer
    • By sorcerer 11th Sep 17, 12:53 PM
    • 814 Posts
    • 390 Thanks
    sorcerer
    • #7
    • 11th Sep 17, 12:53 PM
    • #7
    • 11th Sep 17, 12:53 PM
    Yep, I tried etoro for real with a small amount, I found it was a waste of time. You would copy the trades of other people, and then find you would normally lose.

    At the time their was no way of working out how much risk you were taking. So for example if I had £100 and I bet £50 on one guy, I am risking half my money. But is he also risking 50% of his money, you would have no idea. £50 for him could be 0.01%, which is a very different risk.

    Also it's hard to get you money out of them, they make you jump through hoops.
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