Roboinvest, which lets ordinary folks follow each others’ trades in real-time, booted up at the end of January with a partnership with amateur trading clearinghouse E*TRADE. The startup has processed $2.5 million in trades and grown to 1,300 users since then, founder Michael Giles told Betabeat, with only some seed money and a full-time team of two.
The trick to Roboinvest is “one-click copy trading,” the feature that launched just over two weeks ago and got the attention of Bloomberg’s Businessweek. Broadcast your trades in real-time on Roboinvest, and your followers have 30 minutes to decide if they want to copy your move. ”Most people know somebody who trades, and they always want to know what they’re doing,” he said. ”It’s trading for the rest of us. Anybody with a trading account can use Roboinvest.” Read More