START-UP ADVICE

INVEST IT
TRADE IT
That’s great and it’s how you’d win a contest, but
you wouldn’t do that with real money. Instead,
TopTradr aims to set up as many realistic
barriers as possible.
With a leaderboard based on our TopTradr
score favouring performance, risk responsible
and consistent trading, the aim is to create more
than just a social trading network but to also
discover talent, the X-Factor of Forex.
Therefore, this is a model that simply has
nothing in common with copy trading as it does
not solicit novices to blindly copy “guru” traders
but aim to discover risk responsible traders,
highlight their trading activity to the community
for educational purposes and finally invest
institutional capital behind those trading talents.
Moreover, by providing traders with a new
kind of interaction tool, this has given them the
ability to follow far more sophisticated, or even
professional traders, and gain information and
insight to help them with their trades. By using
social trading networks, traders can quickly get
feedback on the trades they are making. For
example, if people are starting to ‘like’ a trade,
the trader can tell that they are on the right track
with their activity. This kind of reassurance can
be extremely important, especially for beginners.
Copy my trades – friend or foe?
One of the reasons why copy trading has
become so popular is the belief that, at a novice
or retail level, it helps overcome the barriers to
successful trading. The premise is that everyone
benefits if the copied trade is successful, which
is unfortunately far from reality, as it is often
only the copied trader who gains. There is also
a clear issue of reliability, how do you know that
the ‘guru’ you are copying has a much better
knowledge of the markets than you do? Without
independent verification, it’s impossible to tell,
resulting in the danger of users blindly following
other traders’ strategies rather than forming
their own decisions.
With the majority of social trading
platforms basing their model on copy trading,
TopTradr has chosen a different route.
Francois Nembrini, co-founder of TopTradr
commented: “As a quality trading network, our
audience enjoys the challenge of following and
executing their own strategies and ideas. Simply
put, we want our social trading platform to be a
tool for traders to challenge their trading ideas.
You will learn nothing by having people copy you
and learn even less if you are copying others.”
“Our aim is to discover traders that can
become professionals and can manage
institutional money. We try those traders on our
own capital to build a track record for them in
a pro-environment. Since our capital is at risk,
it only makes sense for us to focus on building
a community of risk responsible traders who
understand the trades they initiate. This is not
an easy road and our marketing message does
not resonate as well as “copy trading stars with
fantastic monthly performances”. We however
believe that our approach is more responsible
and more profitable long term and will also
hopefully help novice traders understand how
professionals look at the markets.”
“What’s needed is an incentive to improve
trading knowledge in the first place and for
the right reasons, something that TopTradr is
aiming to provide to new traders, by scoring
and rewarding them financially when they
make consistently smart, low-risk and high yield
trades, Francois adds.”