Setting Up Your Own Social Trading Platform for Extra Earnings

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If you have the budget for it then you can visit platforms such as UpWork, Freelancer, Fiverr, PeoplePerHour, etc, to commission the development of a basic membership site for you. This would be with the aim of setting up your very own social trading platform so that you can monetize the knowledge and experience you have as a trader without having to go through the rigorous and expensive process of qualifying and getting accredited as a broker.

Social trading is, of course, a trading structure whereas a respected or successful online trader you share your strategies and tips to allow people to copy them and in this way, you can get compensated without breaking any securities laws.

The front-facing blog

Your approach to your social trading platform would incorporate a public-facing blog portion where you don’t give away too much in the way of the actual strategies and tips you use. Rather, you share your successes, such as maybe sharing screenshots of trades that went right and teasing your audience with upcoming stock picks and positions you’re ready to profit from.

This generates the kind of interest which will further consolidate your position as an authority and open up the door to monetization through charging people a small fee to join your inner-circle and get more detailed information about how you go about picking your trades.

If you’re at all interested in the world of trading then you would have heard of the name Tim Sykes. Basically, this is the model he uses – he has a site that has a membership area for budding traders who want a close-up view of his stock picking process.

The member’s area

Once paid up and logged in, your growing membership of exclusive inner-circle social traders will be privy to some detailed stock-picking analyses, but this gives you the perfect opportunity to further monetize their participation. For example, you could have them all signed up to the online trading broker’s platform you use, and as you know, it would be hard to find an online trading platform that doesn’t have a rather lucrative affiliate program.

So basically you just afford them the opportunity to copy your trades and if any of them would like some extra, one-on-one mentorship, coaching or training, you can use an app to make connections online and bill them instantly as the call is running.

An alternative approach (cheaper) – Private YouTube Club

If you don’t want to bother with the upkeep of a membership site and you’re willing to settle for features and less control of the platform over which you can facilitate your social trading operation, you can simply use YouTube’s private videos. Share the links with those followers who pay to access them, as YouTube’s videos set to “Private” can only be viewed by people with whom the link is shared. Again, you can make use of the referenced app (Callmart) as perhaps the best billing option, since calls are billed by the minute.

Users can maybe call in to listen to a recording of instructions about how to access the private videos.