I was doing some of my own research the other day and I came upon a website called etoro. From what I have been reading it seems like it is based on being able to copy successful traders. I have seen some people had good things to say about the site but I have also seen people who say that it is a total scam. Some people also say that they like to scam people that are new to trading. I would like to know have any of you used the site before and if so what do you think about it is it something that you would advise someone to get into or is it something that you would tell them to stay away from?
Never heard of them. I do know it's hard to duplicate success of other traders. I wouldn't touch it personally. Unless someone has an algorithm that uses some advanced techniques based on math related to stock trading, I wouldn't pay jack for it.
Yeah I was reading that they have this thing in place where they show you forex traders that are making good money in their trades and then they teach you how to make money on the same types of trades that these traders are doing. Earlier today I was reading and article that was talking about how some people that were following a popular trader on there and a lot of them have been making money from following him but one day there was some serious moves in the market and the people that were following him lost lots and lots of money.
Yikes!...that is creepy scary, i remember that day, i guess it was last week or last week but one, the stock market did a huge tumble down, i'll confess, i have joined the site{etoro} but am sitting on the fence and observing the way things go...i have not deposited the said amount yet...just watching, studying and waiting...considering what happened to the stock market that day...am overwhelmingly skeptical...even though whilst trading in stocks, there are good and dark days ...caution is the order of the day.
When you deposit by moneybookers (skrill) they offer huge bonuses. That is a red light in itself. They match deposits up to almost 1000 dollars if I remember correctly.
Ok my mistake. Either I did not remember correctly or they changed the structure. If you deposit $5000+ you get $1000 extra to invest. http://www.etoro.com/en/promotions/skrill/
I don't think that I will move forward with this website because somehow I am just thinking that they will just take advantage of a new comer like me to the game so to avoid losing my money I think that I will just stay away from it.
I've been looking at etoro as well. That aspect has intrigued me. Being able to copy successful traders. I won't be copying anyone else, but I would like to start a micro account and build up my reputation and have other traders copy my trades, and in turn make a small commission off of them.
Sounds cool I would really like to know the results so what you can do is after you have gotten started on there you can come back and let me know how it goes. It just seems like a lot of people over there are just trying to get a commission off of somebody and that is why I feel like they are not telling you the full truth when you are sighing up. They make it look like all you will be doing on there is making easy money when we all know that this is not true.
