Profit.ly with a jingle "Share your trades with the world" is quite of impressive business. A couple of their users claim to make over a million of dollars.
1. Why Did We Create Profit.ly?
Studies suggest 90% of traders lose and 70% of professional mutual fund managers fail to beat the S&P 500 each year and yet there are thousands of "gurus", traders and investors who claim to be consistently profitable. But who is ACTUALLY profitable? It's time to put up or shut up. Just like Investimonials does for financial products, Profit.ly aims to discover the best traders and investors and weed out the worst.
2. Why Should People Share Their Profits And Losses?
Trillions of dollars are spent each year on management fees, subscriptions and seminars on people claiming to be consistently profitable, but academic studies and experience teaches us believing others in this industry is very dangerous. You can help make this industry transparent and great. There are honest and consistently profitable traders and investors out there, we just need to find them!
3. Is This Only For Stock Traders & Investors?
For now, yes, but as you know there are more than a few gigs out there that deal with profits and losses... get excited for the future.
4. Why Has Nobody Thought Of This Before?
It is not in ANYBODY's business interest for the online financial industry to be fully transparent...under performing and non-credible funds, advisors, newsletters, websites and "gurus" would go under faster than you can say Bernie Madoff.
And that's what we're hoping to accomplish--to cut through all the BS and weed out the incompetents and liars... because that mission is just and right.
5. How Will You Weed Out Liars?
Safeguards will soon be unveiled... we will not tolerate liars on our site, they can go post on websites like TheLion and EliteTrader that tolerate such behavior.
6. Is There A Rewards Program?
YES! Since we want to encourage brutal honesty, we are working hard on some amazing incentives to tell the whole truth and nothing but... stay tuned!
7. I Am Not A Trader Or Investor, But I love Profit.ly's Concept, How Can I Help?
Cool -- tell all your friends and family about this site, and encourage them to tell everyone they know too... through this kind of word-of-mouth we hope to reach EVERY trader and investor and eventually you will help us pull this industry kicking and fighting into FULL transparency!
8. How can I delete a trade?
View your individual trade by either clicking the amount or the time that it was posted. Once you are viewing the single trade, you can click the trash can icon to delete the trade. It looks like this:
9. How can I trust the broker connect?
While we do ask for your credentials we do not store them in any way. We use bank level security with 256 bit SSL encryption. Our different Brokerage connections are used in order to download and verify your trades. All of these methods are read-only so you can't transfer money or place trades using our website.
Short link: http://name.ly/~dXXM$9Q