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Collective2

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Category: Websites
Collective2 monitors over 9,715 trading systems. Use our revolutionary AutoTrade technology to place trades automatically in your brokerage account.
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Great for traders who know what to look for in systems
I first joined Collective2 in 2008 and have followed it closely. To keep things short and to the point, Collective2 has been criticized a lot over the years and for the most part, a lot of it is true. The website/service was and still is in a way ahead of the curve. Automated trading/investing the way Matthew (the owner) wants it to be used for is still in the infancy staged for the average investors to grasp and use with confidence.

In the past year the site has made some big strides forward on several different levels. Unfortunately Collective2 was built with perl coding which is an old school way of programming and it is very limited to what it can do. And this has held the site back and still does from what it could really be/look/do. But Matthew in an interview said he does not want to build the system from scratch in a new code, so we just have to accept the look and feel of a "perl" type website.

My opinion may be bias here, but after a lot of researching on Collective2, talking with his team and Matthew himself, and comparing all the other automated trading websites for where I should host my system Collective2 was the clear choice in terms of the most supporting brokers, allows stocks, options, futures, and forex, an API for my trading platforms to link in and power my account and system, they have a private label version for custom branding and billing etc...

Nothing is ever perfect, and sometimes we just need to accept the best available service and go with it. Also the brutal truth is, 96% of systems fail, and it does not matter if they are hosted on Collective2 or any other site, Trading is tough, if it was easy everyone would be rich and have dozens of systems.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Collective2 - A Mixed Bag.
I have mixed feelings about Collective2. If you don't know, collective2 is a platform where you can create a trading system, OR you can subscribe to a system. As a subscriber, you have the option to be able to auto-trade a system that is managed by the system creator. On the one hand, they have great systems with people who know how to trade profitably. However, you need to understand that Collective2 is just a middleman that takes money from subscribers and system creators. Why? because everything is done through their trading platform and it will cost money to use it.

From what i've experienced, their trading platform has had MANY issues. Be very careful. I've had issues where trades were closed inappropriately by the trading platform, and have lost money. I've had issues where web interface does the exact OPPOSITE of what you put. Their "auto-sync" technology does not make sense. Let's say I subscribed to a system in February. Let us also say that the system has bought 100 shares of XYZ at $5.00 previously in January, and the position is still open. C2's "auto-sync" technology will automatically open the XYZ position in your account even when the shares of XYZ has gone up to $6.00. So basically, the original cost basis of your position is different than that of the system's. Does that make sense? No, it does not in my opinion. Also, when THERE is an issue with their platform, guess what. They will not be held accountable if your account blows up due to their system errors. Fees for their auto-trading technology is $99 per month. I've also had issues where I am charged money even when performing a "trial" of a system. Fortunately, they do have customer service and will help to resolve your issue. They have said they have worked on the resolution of all these issues though, and hopefully they have. Still... you have to wonder if you want to place a large amount of hard earned money with technology that has issues.

The strong point of collective2 is that they do honest reporting, as trades are shown accurately with prices on their website. Also other good features of C2 is their statistics and analytics on various systems, and their search capability on various systems like "The Grid". And like i mentioned, there are good systems on C2 that may provide a decent source of trading income.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Excellent Service
I've been a Collective2 user for over 4 years and I've found it to be a great source of profitable trading systems. The vast majority of systems are worthless, but you can easily filter out the cream-of-the-crop. I recommend autotrading using a low commission broker like Interactive Brokers to keep the costs down and to reduce the slippage from late trades made manually.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Great site for auto-trading others' strategies
Great site if you want to auto-trade others' strategies. Admin team is very helpful and responds promptly to individual questions/issues. If you blindly jump into strategies, this site may not work out for you. Spend some time getting to know the site and it's analytic features and it will be worth your while. The auto-trade feature is essential for short-term traders, but you better choose a compatible broker wisely. The subscriptions fees for some of the strategies can be high, but each vendor sets their own fee structure.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Similar to covestor, needs more work
I really like the site here which is very similar to Covestor. Customer service is very limited and only available through e-mail which I think is a big issue. They havent been around very long – I did sign up a free account and checked out a lot of the strategies. The autotrade feature is very cool – subscription costs can be very expensive though so this won’t work with small accounts.

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Spur20 Houston, TX

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Great idea
An excellent concept with a broad range of strategies on offer for both stocks and forex.

However, it suffers from high annual costs to maintain a strategy and not the subscriber base to sustain those costs (other than perhaps a select few strategies at the top). I kept a strategy at Collective2 (blog.fallondpicks.com) for two years but only ever got two subscribers out of it having been ranked in the top-5 of long-term equity systems. A ranked strategy which charged $9.99 a month should have got more subscribers.

As with any service dependent on micromanagement of trades, strategy burnout is a concern - both from traders which give up on promising strategies (from lack of subscribers), or over-performing strategies which turn to under-performers. Under-performance encourages out-sized risk and potentially more dramatic losses. Dramatic losses encourage subscriber dissatisfaction. Subscriber dissatisfaction discourages new subscribers from joining. Fewer subscribers means fewer strategies can be supported.

However, the auto-trade functionality is a great feature to have if you can find the strategy to match it. The changes in the UI are also much improved on the version I worked with.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Fallond Dublin, Dublin

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Displaying 1-6 of 6 Total Reviews
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