Social networking sites such as Twitter, Facebook and LinkedIn have all attracted millions of users, which Google+ will now be competing for. But there is another breed of smaller, more focused sites that cater for niche audiences. Here we look at five social sites designed for traders and investors.

Marketocracy – An early entry to the crowded social networking arena, Marketocracy was founded in 2000 and boasts 100,000 members. Each of its users can build up a track record of fictional investments through the site, and the best performers are chosen to join a group called the ‘m100′. The best of these are then allowed to manage actual funds, offered to the wider community at a cost.

Collective2 – This site has 56,258 members who invest virtual portfolios. The track record of each user’s investments are visible to the community, which can recruit the best performers – for a fee – to manage real money. The site claims that over $300m was invested over the last week alone.

CollabInvest – This is a social networking tool used in conjunction with a software product, Personal Stock Streamer. Investors can build a network of friends, be alerted when they come online and share stock picks, research and annotated stock charts. There is also an online forum where users can discuss invesment strategies.

Covestor – One of the most exclusive networks, Covestor requires a minimum of $10,000 to open an account. Users can then see the investment strategies of leading managers and subscribe to “auto-trade” their money in a similar way. The site charges management fees, which it splits with these model managers. “If investment management had been invented in the twenty-first century, this is how it would have been done,” claims the website.

SocialPicks – Another community for stock market investors, SocialPicks tracks its users’ success and assigns them an “SP rank”. Members can then view other portfolios and make decisions based on their past performance.


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