eToro CopyFunds (new product)

drunkmonkey

Just wondering what the seasoned traders think of there new Copy Funds product https://www.etoro.com/en/copyfunds/ It's a $5000 buy in.

The return looks good, some good scores on the board over the last couple of months. It seams a bit too easy, so where's the catch?

I use eToro the odd time and do like it, love the ease of the website, I'm tempted to cash in the real shares and what's left in my etoro account and invest this way. Seems like a huge leap of faith but the logic makes sense to me.

opus

Was taking a look at etoro as well, it does look interesting. As a matter of interest what are the tax implications assuming one does actually make a profit?

drunkmonkey

No tax it's spreadbetting.

opus

Thanks for confirming, I suspected that but wanted to be sure. Did you try any of the Copy Funds in the end? It's something I'm planning of taking a closer look at in the next month or so.

daheff

Does anybody else think these things (not talking about eToro -more in general) are a way to try and manipulate markets?

Basically a load of people get told to buy X stock....demand drives up the price.

My guess is the 'tippers' are already shareholders, have enough people who buy on their tips to move the stock price & make a profit.

Some people buy in early enough to make a profit too...so looks a little bit legit...like the tipper had a good tip.

does the tipper give justification/analysis for the tip?? Legit tippers will give this -the rest are just market manipulators. Dont know either way for eToro, but due your due diligence as well as these tips.

opus

Took the plunge and started with etoro. Opening the account was straight forward enough & am now copying two people, with a stop-copying limit of 2/3 of my investment which means I can't lose it all anyway!

Speckydodge

opus wrote:

Took the plunge and started with etoro. Opening the account was straight forward enough & am now copying two people, with a stop-copying limit of 2/3 of my investment which means I can't lose it all anyway!

Sorry for the bump, just wondering how this is going for you?

ZeroThreat

lol etoro, half the time I look at a video on youtube related to bitcoin or any crypto, this etoro advert pops up, with some dodgy looking/sounding guy called Matthew Newton (probably fake name). Wouldn't buy a used car off him!

I'd regard Etoro in broadly the same league as bitconnect.

ZeroThreat

daheff wrote: »

Does anybody else think these things (not talking about eToro -more in general) are a way to try and manipulate markets?

Basically a load of people get told to buy X stock....demand drives up the price.

My guess is the 'tippers' are already shareholders, have enough people who buy on their tips to move the stock price & make a profit.

Some people buy in early enough to make a profit too...so looks a little bit legit...like the tipper had a good tip.

does the tipper give justification/analysis for the tip?? Legit tippers will give this -the rest are just market manipulators. Dont know either way for eToro, but due your due diligence as well as these tips.

Talking of manipulating markets, there's even youtubers forming 'pump and dump' groups as I type this.

opus

Speckydodge wrote: »

Sorry for the bump, just wondering how this is going for you?

Happy enough with it given that the bank was paying me 1% on deposit! These are the results so far:

May = +13.9%
Jun = +3.5%
Jul = -6.6%
Aug = +30.3%
Sep = -7%
Oct = +6.8% (to date)

Obviously your mileage might vary, prices can (& do!) go down as well as up etc etc....

drunkmonkey

I’d advise just opening a degiro account and buying real stocks and do proper research on them. At least you have an asset at the end of the day, it may be in the red some days but it’s cheap to trade on and it’s an investments as opposed to straight out gambling.
I gained and lost enough money on eToro to learn a good bit about buying and selling. Making steady progress now with real shares on Degiro.
eToro is a good place to start but you can get wiped out easily if your not very disciplined with your take profit and stop losses.
Keep well away from betting on Oil.

I don’t regret starting in eToro, don’t gamble big, take small quick profits, be careful of the spreads and stop losss.

Now’s a good time to open a Degiro account lots of activity on the run up to earnings. Some big hitters reporting over the next few weeks. Again don’t be afraid to take profits and if it’s a good company and your solid in your research it won’t matter if it goes up and down you won’t lose your money in the long term.

FLOOPER

Re: Etoro. Watch out for the exchange rate.

AFAIK they trade in dollars and the exchange rate both ways is excessive on the Euro. Much kinder with sterling.

Caveat emptor !!!