COLLECTIVE2

(www.collective2.com)

• General facts: claimed as one of the most popular Social Networks in the USA, Collective2 allows traders to publish their trading systems and strategies as well as choose from a library of over 20,550 trading systems, and automatically trade them in your Forex account.
• How it works: Collective2 works a bit different than other Social Trading Networks, they ask for a fee to publish your own strategy; then they'll rank it based on risk and profit factors, and once ranked, the strategy will be published with the results available to traders subscribed to the website. The strategy author can charge a fee to those who are interested to follow him/her.
• Advantages: Collective2 offers additional tools to help traders choose the strategy: the Grid tool, for example, allows traders to type in parameters they are looking for and get matching results, for example you can search for: "A strategy that trades stocks, with 60% of accuracy, and 4% or more returns in the past 30 days". The system returns a list of strategies that match the criteria and provides details on its historical performance.

Collective2 also provides Autotrading, analytic tools, forums and reviews, plus it offers free trials of their systems. For people who hesitate about their platform, Collective2 offers signals through chat, cell phone or mail.

The Autotrading system allows traders to copy trading positions, while you can choose to have own Stop Loss and Take Profit parameters according to your needs, it's not necessary to keep the original signal provider's parameters.

Collective2 is able to use a bridge to MT4 platform, and also some other popular platforms such as Gain Capital platform or FXCM Trading Station.

• Disadvantages: Possible comparison conflict with leverage set up by Collective2 and leverage offered by your broker. For Forex, C2 allows only 33:1 leverage. However, according to FAQ traders are allowed to trade with higher leverage offered by their brokers without any issues.
• Fees: The fee for signal/strategy providers is around $80-90 per 6 months according to the clients. Collective 2 charges a percentage per position copied by the clients. The subscription for clients can be free or paid with the price set by the strategy provider.
• Comments: Collective2 looks good for beginners and for traders in general, however, there are some complains from traders mainly about fees during trial periods that are never disclosed.
• Reviews: What we read on the internet about Collective2:

  - Signal providers complain about charges for being a provider;
  - Some traders are not happy with the trading environment: slippage, void profit practices or positions not honored/filled are among the most common problems;
  - Other reviews mention commissions or fees being charged also during the trial period;
  - Customer service also gets average rating according to user feedback.