MumbaiTrader is a new startup, offering social investing tips to Indians. The site brings together a network of pre-screened and verified advisors, who will offer their services to investors. Each advisor is ranked and investors can opt to follow an adivsor based on their rating and track record. This Covestor like model has been implemented by other Indian startups like MoneyVidya and MarketHero (which seems to have deadpooled now).
There are some aspects of the site that arent quite clear to me. Can any user join as an advisor ? What screening, if any, is done to join as advisor ? If any user can join as an advisor, then I suggest they change their marketing message – since it seems to give the wrong idea that advisors are pre-screened select set of users.
Additionally, access to every feature on the site requires you to login. Which is a huge limitation. You want the users to be able to access as much of your site as possible to get a feel of the site and its features. By forcing to login / signup before exploring the site features will severely limit the number of users signing up the service.
Again a good social startup but need to understand that good advisors will enroll only if they see any monitory benefit of their time.
As all know every stock broker around the cornet has its in-house advisor but all know how good they are!!
Best of luck to them and hopefully they come up with business model which benefit both society and experts.
It is sad the research on the part of the SD team. They are mentioning about moneyvidya and markethero, while the social investing space has moved way ahead when it comes to Fourstocks and Stockezy.com
As a personal user of stockezy, you can find all the required elements of a complete social investing community right here at stockezy. It is high time, SD team do more research b4 throwing up their reviews.
I think the term should be “Investment Social”.
What do you think?
Investing is my way of earning money both online and offiline, right now i am into venture capital.,;;
Wishing them very best in social investing!
Interesting site…. I know a lot of people who use the online websites to trade in stocks. So these sort of financial websites can do very well if executed well.
me and my friends have been into venture capital investments and so far the income is great.`,-