For overall beginners the eToro platform and the concept of trading itself can be a little intimidating at. With the benefit of hindsight and my own personal trading experience on eToro, I desired to put together a detailed no-nonsense guide to help others get the best outcomes as rapidly as possible. And here it is …
eToro would describe themselves as an accessible trading platform that incorporates a social component into investing. I ‘d describe them as Facebook for trading. They initially 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 actually been widely covered by mainstream media, including a recent BBC documentary called Traders: Millions by the Minute.
The most distinct feature of eToro is most likely ‘CopyTrader’. This allows you to sort through other users and plainly see their trading history, including how much they have made or lost over any given duration. You can designate some funds to instantly copy their trades if you find someone you like the look of.
Another big plus is the ‘Popular financiers’ program. This rewards users based on how many copiers they have in the type of month-to-month commission. The program also incentivises responsible trading, and we’ll discuss this in more depth towards the end of the guide.
With the social and copying features, you’ll definitely learn an excellent deal reasonably rapidly! The majority of the need-to-knows you’ll pick up by playing or reading this guide with a demo account. Etoro Invest In Open Trades
Relax at the start and make certain you know what you’re doing before investing bigger amounts of cash. Trading on eToro can be very successful but it is very important to note that, whenever you’re handling the markets, you can lose money too (” your capital is at danger”)!