Well simply, e. Toro is a very open social network and anyone can become a Guru. The only requirement to join the “Popular Investor Program” is that you have a live verified . Obviously your past performance will dictate how prominent you will be displayed in the Open. Book “Discover People” rankings.
Because you’re only able to allocate a maximum of 4. The reward “Popular Investors” receive depends on the career level the achieve. With 5. 0 active live copiers they become a “rising star”, earning them $3. Toro credits). 2.
And once they get $3. At that level they receives 2% commission on all the funds under their control as well as a 1.
You can find the full e. Toro “Popular Investor” payout table here. While the commission isn’t tied to performance (i. At the beginning the “Gurus” would receive the payments as bonuses to their e. Toro account which they could only very gradually “unlock” when they make a certain amount of live trades in their account. Only 2. 0% could be cashed out before, where now they they receive the the full amount straight away. In our view this change certainly signified an important improvement.
The problem before was that many popular “Gurus” ended up trading with massive amounts of bonus money which would be added automatically be added to their accounts at the end of each month. This not only potentially impacted their trading style, but also screwed their results in comparison to their followers since, unlike their followers, they received a massive amount of extra trading credit at the end of each month (which they could offset against any losses incurred). Please note that if you open an account and only follow other traders (i. As such you may be able to get some monthly bonuses too in addition to your trade copying profits. As in the example above, you don’t need to trade yourself for people to follow you, but if you are successful in selecting and managing a portfolio of other “Popular Investors”, people may start to follow you directly via Open.
Book as well. When you look at the list of “Popular Investors” in the Open. Book rankings (click here to view) it used to be noticeable that a large number of them have a 1. You don’t need to be an expert trader to know that getting your trades right 1. When you looked at the profiles of these traders you’ll notice why .
Many traders were using this trading strategy because until May 9th 2. Toro ranked the “gurus” by default by maximum winning ratio (so 1. More followers also meant more bonuses for the Guru and popular Gurus would just offset these monthly bonuses against their open trades.
While some traders with a 1. Toro caught on to this practise and since 2.
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Popular Investor” profile page. It’s actually been clear e. Toro are trying to improve their interface to make it more transparent and easier to find consistently good traders for you to follow. Another positive improvement came in February 2. Dietz formula was very confusing and at times misleading).
Ranking by gain% does make more sense though as we mentioned elsewhere, the way the gain% is calculated is not transparent (and cannot be replicated) and hence we feel this reduces the value of it. The fact that Popular Investors have to start trading with their own money is certainly a positive aspect of e. Toro. However they can start from as little as $5. Toro profile. While it certainly isn’t always the case that people trading with $1. Still, popular investors also have future income to lose because their payouts are based on the consistency of their performance. In our view, as mentioned above, e. Toro’s payment mechanism has significantly improved in comparison with the previous “bonus” model.
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Nevertheless we feel it would still improve transparency if e. Toro shared the actual real money balance their “Popular Investors” are trading with, as we believe it’s a useful piece of information for the followers to know.
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