While the buzz about social trading has spread to the
farthest corners of the forex trading industry, the clear leader in the field
remains eToro with its groundbreaking social trading application, the eToro
OpenBook. As one of the first social trading applications online, eToro
OpenBook has managed to attract a devout following, and with a membership base
numbering millions, it is now the largest social trading network in the world.
It is no mystery why eToro OpenBook remains a crowd
favorite. Simply put, it is the one social trading platform that isn’t afraid
to explore the wide range of possibilities presented by the concept of social
forex trading. Take the “CopyTrader” feature for example. While other social
trading networks focused on sharing information alone, the makers of OpenBook
quickly decided to make it possible to apply that information practically by
enabling users to automatically copy the position of the traders of their
choice. This way, traders on the OpenBook network are no longer restricted to
simply watching the positions opened by expert traders; they can be opening the
same positions themselves at the same time.
With the introduction of “CopyTrader” it became clear that
some traders would become the “Gurus” of the social trading community, and thus
eToro devised a way to reward traders with numerous followers through the Guru
program. Members of the Guru program receive commissions for their followers
and their copy-trading activity.
The trademark of industry leaders is that they never rest on
their laurels, and so eToro has already announced upcoming innovations for
their social trading network, including a “Guru Finder” feature and much more.
This kind of attitude makes it clear that eToro intends to stay ahead of the
competition for a long time.