Anyone have experience of 'social trading'? like zulutrade and etoro

Monserrate515

Hi I am looking into a few social trading platforms like Zulutrade and eToro as an alternative to shares.. does anyone have experience with these? Doesn't seem like there is a whole lot of UK based discussion around these. They are covered on forums but mainly in US.

What attracts me is the lower entry cost (i.e. no £10 fee like with share trading) but this is very much an unknown. If anyone can share their experiences that would be great.

eToro_Team

Hi Monserrate515!

The best way to learn more about eToro is to sign up for a free demo account. Once you complete a very quick registration (you can even sign up with Facebook) you will have access not only to our social trading tools, but also to our huge community of traders, many of whom are from the UK. You can then ask them about their experience with eToro and any tips they can give you about share trading using our services.

Just so you know, we are about to add many more stocks (in about a month or so), so this is really a good time to start practicing stock trading, which you can do at eToro using virtual money and real live market rates.

You will also get a free $20 gift card to invest in stocks or in copy trading when you sign up!

Happy trading,
Abby, eToro Team

sorcerer

Yes I have used Etoro, and I wasn't impressed, I put a small amount in, lost almost all of it when trading in the so called "experts", then had to jump through hoops to get the rest of the money back out. If I was you, I wouldn't bother. If you want to trade FX learn it yourself and do it yourself. Their experts take high risks for high rewards, but eventually they all loss their money.

pm me if you want to know more.

innovate

eToro Team, please be aware you must have approval from the MSE Team to post as company reps.

cepheus

There is a review for EToro here. It may or may not be relevant, but if your money is held with them you should be aware the company is registered in Cyprus.

Review for Zulutrade here One of their offices is based in Cyprus no doubt for tax purposes.

Only use a company whose client money in a segregated account and is authorised and regulated by the FSA.

No connection but some spread betting companies such as Finspreads offer this protection with very low stakes. All the same without a successful strategy they will all lose you money in the long run, just some faster than others.

No-one is going to offer you specific profitable advice or else they would be able to use it to their advantage first!

innovate

cepheus wrote: »

There is a review for EToro here. It may or may not be relevant, but if your money is held with them you should be aware the company is registered in Cyprus.

Review for Zulutrade here One of their offices is based in Cyprus no doubt for tax purposes.

What a coincidence they are punting for funds! I thought it was a bit of a co-incidence that a newbie mentions them, and then shortly thereafter, one of company reps signs up.

peleus

This is not a get rich quick program but could possibly give you a steady profit daily if done properly. You just need to take time and sit to really understand how this works in order to be successful here.

Leejohno

Can anyone please advise how to close investments on etorro and then retrieve funds