For total novices the eToro platform and the concept of trading itself can be a little daunting at. So with the advantage of hindsight and my own personal trading experience on eToro, I wanted to create an extensive no-nonsense guide to help others get the best outcomes as quickly as possible. And here it is …
eToro would describe themselves as an accessible trading platform that integrates a social aspect into investing. I ‘d describe them as Facebook for trading. They initially went live in 2006, and are now the world’s largest investment network with a community of 4.5 million users.
The platform and the broader phenomenon of social investing have been extensively covered by mainstream media, consisting of a recent BBC documentary called Traders: Millions by the Minute.
The most distinct function of eToro is most likely ‘CopyTrader’. This permits you to sort through other users and clearly see their trading history, including how much they have actually made or lost over any given duration. If you find someone you like the look of, you can assign some funds to immediately copy their trades.
Another huge plus is the ‘Popular investors’ program. This rewards users based on how many photo copiers they have in the type of month-to-month commission. The program likewise incentivises accountable trading, and we’ll discuss this in more depth towards the end of the guide.
With the social and copying functions, you’ll certainly discover a great offer reasonably rapidly! Most of the need-to-knows you’ll pick up by playing or reading this guide with a demonstration account. Etoro Ex4
Relax at the start and make certain you know what you’re doing before investing bigger quantities of money. Trading on eToro can be very rewarding however it’s important to keep in mind that, whenever you’re dealing with the markets, you can lose cash too (” your capital is at danger”)!