The Definitive List of eToro Alternatives for Canadians
When it comes to stock trading, an aspect that is severely overlooked is the social side of things. Like other professions, hobbies, and interests there is usually communities or networks where like-minded people can discuss together to learn and get a better grasp of ideas. Within stock trading and stock investing, there are a plethora of tools and services that allow you to get better data and make traders faster and cheaper, but there still aren’t enough social sites that provide value to their members. Sure there are many stock investing forums already in existence but there are limited networks designed to discuss and see what others are trading in real-time. eToro is a great site that allows it’s users to copy porfolio’’s of others, something that is beginning to be known as social trading. Unfortunately Canadians are taken to a page all to familiar when trying to go on eToro’s website.
We all know that if it was a Canadian company, they would have at least said sorry. In any case, as a fellow Canadian myself, I feel your pain and for that reason have created a list of similar sites that might accomplish what you are looking for! Without further ado, here is a list of eToro alternatives for Canadians!
Full Disclosure: Hashtag Investing is itself a social network for stock investors and is listed on this list. The purpose here is to help guide Canadians to discover the best fit for them that would provide similar value as to what eToro would.
Collective2 is branding itself as the crowd sourced solution to the hedge fund industry. Rather than pay expensive fees to get professionals to manage your money, or spend lots of time and energy doing your own research, Collective2 allows you to piggy back on the success of any trader. All that matters at the end of the day is results, and Collective2 allows you to search and pick and follow traders who have really great track records.
ZuluTrade is a pretty large site with over a million users. This site is geared towards forex copy trading. Easily search and find other forex traders and their investment returns to follow and mimic their trades. Zulu was founded in 2007 and has both mobile apps available for forex traders. The reviews are average for ZuluTrade, sitting around 3.5 stars out of 5.
Ayondo is another popular social trading platform that allows users to find top traders along with their performance, risk level, and a chart of their investment returns. One knock on Ayondo is the lower rating level it has on Trust Pilot with a meagre 3.2 stars out of 5. Nevertheless, it is still one of the larger social trading platforms that is available to Canadians just be cautious and don’t always expect successful returns when copying others portfolios.
4. Hashtag Investing
Not so much copy trading platform like those listed above, but Hashtag Investing is a high quality social network for stock investors that encourages intelligent, thoughtful and in-depth discussion on stock trading and investing. Your portfolio is not linked so it is a great place to bounce ideas off of a diverse group of investors to get different opinions. It is currently free to join but their is a mandatory application process to ensure that the quality of the community is not compromised. Hashtag Investing also has group chats that allow members to chat in real-time easily through their mobile phones or desktop.
Stocktwits is the largest social platform of stock traders online. Founded in 2007, Stocktwits not allows users to trade on it’s platform as well. You can easily see market and stock sentiment by search stock tickers and seeing what others are saying about this. One of the recent disadvantages of Stocktwits is that their is now a lot of spam and lower quality members. Nevertheless, with the largest social user base for investors, you can be sure to see any topic you are interested in being discussed.
TradingView is a charting tool first, but now boasting over 10 million users, has grown into a complete platform for traders. The ideas sections allows users to post and share any topic or investment strategies that they have. This creates a nice spot for knowledge sharing and learning amongst the user base. TradingView is great for the tools, however, the social component isn’t as strong as the ones mentioned above. Real-time discussion and seeing what others are trading is tougher to do on TradingView.