There are brokers who work for banks or big companies, there are hedge fund people who trade for their funds and such. Yet still out there are a lot of successful traders like you and me without any big wall-street title. To leverage this opportunity, the idea of social investment network came up. There are companies who offer you to pick people on their network, and copy their behavior of investment. They can be referred as social investment networks.
One of the big site is called eToro. According to them “At eToro, the world’s leading social investment network, you can tap into the wisdom of the crowds to help you make smarter investment decisions.”
here is a small video about how it works.
Fingers crossed, the company is doing great so far. They manage to raise incredible amount of money to support their system. On your profile you have copiers, like followers in twitter. If your making consistent positive gains, the chances are that you more copiers is higher. The so called gurus (people who actually own profiles) are encouraged to trade better and gain more copiers because on top of what you earn from your investment, you gain more according to how many unique copiers you have.
eToro is recognized as one of the leading online investment network. (2M users and 140 countries). They also provide you the opportunity to play with virtual money.
and I found this blog post interesting if you want to do further reading on this subject: http://techcrunch.com/2012/03/13/social-investment-network-etoro-is-picking-up-another-15-million-from-spark-others/
This entry is made merely to inform about social investment networks, no advertising intended.