Cake Financial is a new investment community that lets you follow others’ portfolios and real time trades to help you make your own investment decisions. The site is currently in private alpha.
You can see what the top performers are doing, as well as the other members of Cake Financial. Create your own network of users to make friends and set up alerts to be notified when those in your network have made a trade. You can also set up your own account to track performance across your online brokerage accounts. Cake Financial will rank you along with the rest of the members of its community, so you can see how you compare against others.
There aren’t any fantasy trading plans going on in Cake Financial, so you’ll get more useful data when it comes to leveraging a community to aid in your own personal decisions. And unlike some other similar networks, there are no fees associated with accessing data from top performers. This could be in an effort to keep top performers from becoming more like brokerages that may have their own interests in mind when offering advice, or it may simply limit the legal liability for the whole of Cake Financial’s service.
The potential downfall is of course, you may get just what you pay for. There’s already hesitance when it comes to business applications online, and a free investor’s network could very well have some people wondering how valuable the information could be coming out of this community. Cake Financial will have to ensure that its top performers are just that–on an industry-wide perspective, and not just relative to the other members of its network.
Similar services include Geezeo, Covestor, SteamStreet, SocialPicks and DigStock.
More at:https://www.cakefinancial.com
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