Back in March eToro, the investment network that uses real-time features to let users follow and trade based on other users’ activities, raised another $15 million in funding taking its war chest to $33.9 million. The online investment network now claims to have more than 2 million users across 140 countries. The investment proved that so-called ‘social trading’ is a hot area right now. Taking the investment model and adding Twitter/Klout-like features is proving a powerful combination, allowing investors to look to friends, acquaintances, and colleagues for trading advice.
But the company has yet to properly launch in the U.S. That delay means there are opportunities for other startups to get in on the act. Tradeo, which already operates its Forex trading platform in the U.S., has now launched the new Twitter-like follow method of managing your contacts. You can now find interesting traders, follow them, and copy their trades.
The platform not only allows investors to tweet out into Twitter, but also enables cross-market syncing with the platforms that investors are trading on. A visual chart demonstrates their positions and the trades they’ve made.
Additionally, the new version of Tradeo includes several new options in the trade copying feature. For instance, it now allows you to set multiple additional variables that let you better set up the trades to your preferences.
Led by CEO Jonathan Adest, Tradeo has a team of 15 and has raised $1 million in funding from angel investor Gigi Levy and AMV venture capital.