For total newbies the eToro platform and the concept of trading itself can be a little intimidating at. So with the benefit of hindsight and my own personal trading experience on eToro, I wished to create an extensive no-nonsense guide to help others get the very best outcomes as rapidly as possible. And here it is …
eToro would describe themselves as an accessible trading platform that incorporates a social element into investing. I ‘d explain them as Facebook for trading. They first went live in 2006, and are now the world’s largest financial investment network with a community of 4.5 million users.
The platform and the wider phenomenon of social investing have been extensively covered by mainstream media, including a current BBC documentary called Traders: Millions by the Minute.
The most unique function of eToro is probably ‘CopyTrader’. This enables you to arrange through other users and plainly see their trading history, consisting of just how much they have actually made or lost over any given period. You can allocate some funds to immediately copy their trades if you find someone you like the appearance of.
Another big plus is the ‘Popular investors’ program. This rewards users based on the number of copiers they have in the type of regular monthly commission. The program also incentivises accountable trading, and we’ll discuss this in more depth towards completion of the guide.
With the social and copying features, you’ll certainly discover a great offer fairly quickly! The majority of the need-to-knows you’ll pick up by playing or reading this guide with a demo account. Etoro Berkshire Hathaway
Take it easy at the start and make sure you know what you’re doing before investing larger amounts of money. Trading on eToro can be very profitable however it is necessary to keep in mind that, whenever you’re handling the markets, you can lose cash too (” your capital is at risk”)!