Gamifying your investments, opening your eyes
Openfolio is a social media platform for your investment portfolio. It allows you to use a new approach to investing your money and get a better idea of the investment trends of your peers and people in similar demographics. A far cry from the days of giving yourself over to a financial advisor and crossing your fingers and toes.
Openfolio is strictly a means for investors to share ideas, it will not manage your portfolio and you can’t trade on the site. You will be able to view popular areas where people are investing, like technology or financials, but will get no dollar amounts, only percentages. You can even view investment portfolios of users outside your demographic, like for instance, Warren Buffet, while still keeping in mind what is best for your own investment goals and financial portfolio.
Add a dash of social media, and get goin’
Signing up is free. You can log in with your LinkedIn account, Facebook, or email, which can automatically link you to professionals with whom you are already associated. You will add your affiliated brokerage companies and accounts which will then allow you to see how you stack up compared to everyone else.
Are you playing it too safe? Are you more risky? You will get this information along with other intriguing visuals that show your investment trends as well as help you gain a fresh perspective on potential investments. Openfolio believes it can be helpful for their users to see this information instead of blindly following what they call the “the investment service vacuum.”
No dollar amounts are shared
Since you will be giving people in your network inside information about your portfolio – no dollar amounts – but those stocks, bonds, mutual funds, and so forth, that you are buying and selling, you might be wondering about the safety of your information. The company boasts bank level security. If privacy is still a concern for you, you can choose a more guarded approach to the website and only watch the personal investment trends of others, never sharing your own.
Openfolio believes they can make you a better investor by sharing this information. This website is helpful for those who like to dive in and see for themselves how investing their money really works and to see what others are doing. We share all kinds of information on the internet, so why not investments?
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