Latest update: July 13th, 2016
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UK- Sipping on a half-finished Heineken while flipping through Facebook on his laptop, Leeds native Trent Crowdley’s money is multiplying by the second. It’s all thanks to a new social network that allows investors to copy the trades of highly successful financial analysts with no Broker or Middleman fees. Social trading lets users literally copy the trades of some of the best Forex traders out there.
“When I tell people that I trade for a living, they assume that I actually understand financial markets” he jokes. “But the truth is, I just deposit the money and let someone else much smarter than me make all the trading decisions (and money) for me.”
Like many other profit seekers worldwide, Trent joined this fast-growing crowd of worldwide profit seekers on Trade 24’s social trading network. Thanks to social trading, members of this social network are earning an extra income without even working an extra hour. This money-making potential has taken the internet by storm, but despite its raving success, it has some brokers on Wall Street quite concerned.
The Suits are Worried
“The problem with social trading is that you don’t know who is on the other side trading for you so it’s hard to know if he will actually make you money or not” claims Greg Halsrom, a junior broker at a well-known investment firm in downtown Manhattan. Trent disagrees!
Pointing to the list of traders to choose from, he shows how to research each trader’s success following the track record which is clearly displayed on the network for all to see. Pointing to one investor going by the alias ‘Superman704’, Crowdley notes “this guy has a 96% success rate so I will latch onto his trades”. Trent clicks on Superman704’s impressive 3-year trade history which reveals generating some remarkable returns using a conservative risk level of 2.59/10 and a profit/loss ratio value of +69.49% to boot.
The Proof is in the Profits
Despite the fact that the mystery trader doesn’t reveal his real name, the proof is in the profits. “He just makes me money. It doesn’t get any more transparent than that Trent quips. With just two clicks, Trent has entrusted a complete stranger to manage his initial £500 investment. He then exits out of the page to browse Facebook, YouTube and the Daily Mail for about fifteen minutes. Upon returning to the Online Exchange, Trent discovers that ‘Superman704’ made him 80 pounds in pure profit. “Who else do you know makes 80 Quid in just 15 minutes?” Crowdley asks with a stride of beaming confidence. “And just for clicking on the mouse twice no less! Since Trent started using this system to trade online, he has been able to quit his day job and make a decent living from home.
Since the social network is based on a Forex platform, trades are placed roughly every 15 minutes in a 24 hour span. This means that the investor Crowdley selected (Superman704) gives him roughly 96 opportunities a day to make (or not make) money. Another reason this social trading network is pushing Wall Street brokers into an abyss of irrelevance is its wild success.
No background in finance needed
“I barely graduated high school by the skin of my teeth” he recalls. “If you would have told me one year ago that I’d be trading full time online, I would have recommended putting you in a mental institution. I was horrible at math in school and the very idea of trading in the Stock Market scared the wits out of me.”Carly Davis
About the Author: The author is a boutique hedge fund manager overseeing $21 million in assets, work in co-operation with Trade-24 and is a regular contributor to various financial media outlets.
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