The international social investing platform, eToro has just launched its innovative ‘CopyTrading’ feature for its users in the United States. The 11 million accounts on the app will automatically copy moves of top securities traders too. This means that they will either win or lose the same percentage of their investment. As CCN put it, it’s similar to following someone on social media but with money.
The director of Finance and Operations at eToro, Hassan Ahmed revealed on Twitter this week that the new initiative has made its way to the States:
Incredibly proud of the @eToro @eToroUS team to ship CopyTrader to the U.S. — there’s no product quite like it in the global fintech landscape. Create an @eToro account and check it out for yourself! #JustHitCopy https://t.co/NOY8syROyW— Hassan Ahmed (@Hassan_NY) 29 October 2019
Just days after the launch of a Twitter mention-weighted crypto portfolio, the eToro copytrading feature arrived in the United States. The firm claims that the algorithm has delivered 281 percent returns for its creaters over the past two years.
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
Retail investors using eToro won’t have to match the total amount of their favourite funds to copy their trades too. Instead, they can apply a smaller amount toward CopyTrading and eToro will mirror the trader they copy by percentage.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!