eToro, an innovative and socially-conscious Forex brokerage announced last week its latest offering, the CopyFunding platform. Unveiled on November 8 at the 2016 Web Summit in Lisbon, CopyFunding allows traders to focus their trades on specific sectors or to follow successful social traders who are have used the eToro social trading platform to trade profitably over extended periods of time. This type of thematic investing has become popular worldwide, and is often used by stock and currency traders to keep their focus on trading assets that they think have the best potential for growth.
A New Twist on eToro Social Trading
One example of a market-based CopyFunding opportunity would be to follow the “InTheGame” CopyFund, which is comprised of holdings of top assets in the gaming sector, such as CFD stocks of EA, Activision, Sony and more. Traders looking to follow other traders, rather than specific sectors of their own choosing, can opt for “Top Trader CopyFunds,” which are comprised of the best traders on eToro. To identify these top traders, eToro’s algorithm searches over 5 million of the company’s traders, determines which of those traders will be the most likely to be profitable in the next quarter, and creates eToro CopyFunds from these top traders based on different parameters, such as the risk-reward ratio. Traders can then choose which Top Trader CopyFund to follow based on which best suits their personal trading style.
To celebrate the launch of this exciting new product, eToro is currently offering 0% management fees for traders using CopyFunding. A minimum of $5000 is required to begin using CopyFunding.
Learn more about eToro in our comprehensive eToro review, and decide if this is the right investment product for your specific needs.