New online trading websites seem to emerge out of the woodwork almost daily. Today, two newcomers caught our eye: Hedgeable and ZuluTrade. With its exchange-traded-fund focus, start-up Hedgeable most closely resembles MarketRiders and charges a modest one-time or monthly fee for investment advice. ZuluTrade is a foreign exchange social trading site like Currensee that has been around for three years but formally launched this week; its business model is based on introducing broker fees.

Hedgeable, which debuted today, is a small start-up that says it provides hedge-fund-level services, in fact it refers to itself as "the hedge fund for the rest of us. "We're attempting to radically shake up the trillion dollar investment advisory industry," says Mike Kane, CEO. "We already have over $1 million under supervision on our technology platform."

The site offers a free Portfolio Analyzer service that includes reports, analysis and trade recommendations; a $49.99 Portfolio Builder service that crafts customized ETF portfolios; and Portfolio Manager, a portfolio management platform that provides real-time analytics and infrequent trade alerts designed to prevent losses in the user's portfolio for $19.99 a month.

Users keep their money in their own discount brokerage account, Hedgeable's recommendations are all optional.

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Hedgeable uses what it calls a Dynamic Asset Allocation system in coming up with recommendations. "We believe that investors shouldn't rebalance their portfolios quarterly/yearly to fixed weights, they should rather dynamically manage their portfolio'by doing'infrequent trades as markets shift," Kane says. "By doing this we'can help investors mitigate losses, while keeping their portfolio growing, thus hedging their portfolio without the use of any derivatives or fancy securities."

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The second site is ZuluTrade, a foreign exchange trading social community site based in Athens, Greece that has 5,000 active accounts and has handled $150 billion in transactions to date. The site ranks online traders according to such factors as amount of trading activity, drawdown of each trade, P&L, his/her sharp ration, and the amount of time a trade stays open.

ZuluTrade tracks trades and success rates of currency traders and allows autotraders to select and follow experts, then directs all those trades in the autotrader's broker account. Currency traders receive payment from ZuluTrade every time an autotrader uses their knowledge by replicating their trades. With over 4,500 portfolios to choose from, traders may follow and replicate the trades of as many expert traders as their equity permits.

ZuluTrade connects to 20 brokerage firms, including Forex.com, FXCM, Saxobank, Alpari, FXDD, CMS, AVAFX, TDFX, and Prime4X, with a pending list of around 70 brokers worldwide to be connected soon. ZuluTrade earns a commission on trade transactions from all brokerage firms connected on zulutrade.com.