eToro Social Guru Program

by Forex Trading-Pips

 

eToro Social Guru Program update by FxView:

Social trading has the potential to revolutionize the way people trade, with traders being able to copy and follow the trades of the best performing traders. However the best performing traders need a reason to share their secrets with the rest of the world. It is for this reason that the vast majority of social trading networks reward the top traders with a share of revenue, ensuring that successful traders have good reason to share their positions with others.

The world’s biggest social trading network eToro is no different and rewards the networks most copied traders through their Social Guru Program. This program allows traders to make up to a total of $10,000 a month in commission. This would certainly make for an impressive side income in addition to the income these individuals make from trading.

Obviously only the very elite earn this kind of income from the program, but there are a number of traders raking in an impressive amount each month. The program pays out according to a linear scale, the more eligible daily copiers the more you can earn. In order to receive any commission a trader must have at least 10 eligible daily copiers.

In order for someone to count as an eligible daily copier, the individual must be copying you with at least a $100 of capital. This means that you won’t receive any social guru commissions from some of your less capitalized copiers. While this might be slightly off putting, you will still receive commissions from the majority of copier base and these commissions can quickly add up if you maintain a decent number of active copiers.

The program does however have a couple of drawbacks. Social Gurus are only able to withdraw 20% of their commissions in cash. This means the most a social guru can make each month is capped at $2000. It should be stressed that this is still a very impressive sum. I don’t feel this withdrawal limit will put many traders off considering the eToro social guru program.

In order to be eligible for the guru program, traders need to fulfil the following requirements:

Traders must open at least 10 trades per month.
Upload a valid profile picture onto their profile.
Supply eToro with valid contact details.
Upload certain necessary documents.
Comply with eToro’s Terms and Conditions.
Share eToro’s values and commitments.
Remain an active part of the community, making a minimum of 20 monthly comments on the Openbook platform.
The requirements for becoming a social guru at eToro are relatively strict, but this is an attempt to help maintain eToro’s reputation and ensure that the platform remains a great place for social trading. Those interested in eToro’s social guru program may also be interested in becoming a signal provider at ZuluTrade, where traders who gain an active following can earn up to 0.4 pips per lot.

I would recommend the eToro social guru program to anyone who was looking to supplement their trading income with additional commission. With the only real drawback to the program being that only 20% of earn commission can be withdrawn as cash. Those looking for the full run down on the program should check out the full details which can be found as a PDF on the eToro website.

…..More at eToro Social Guru Program

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