For total beginners the eToro platform and the principle of trading itself can be a little intimidating at. So with the benefit of hindsight and my own personal trading experience on eToro, I wanted to create an extensive no-nonsense guide to assist others get the best results as quickly as possible. And here it is …
eToro would describe themselves as an accessible trading platform that integrates a social element into investing. I ‘d describe them as Facebook for trading. They first 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 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 distinct function of eToro is most likely ‘CopyTrader’. This allows you to sort through other users and clearly see their trading history, including just how much they have actually made or lost over any given duration. If you find someone you like the appearance of, you can designate some funds to immediately copy their trades.
Another huge plus is the ‘Popular investors’ program. This rewards users based upon the number of copiers they have in the form of regular monthly commission. The program also incentivises accountable trading, and we’ll discuss this in more depth towards the end of the guide.
So with the social and copying functions, you’ll definitely find out a lot reasonably quickly! Most of the need-to-knows you’ll pick up by reading this guide or playing with a demonstration account. Etoro Relative Strength Index Vs True Strength Indicator
Relax at the start and make sure you understand what you’re doing prior to investing bigger quantities of cash. Trading on eToro can be very successful however it is essential to keep in mind that, whenever you’re handling the markets, you can lose money too (” your capital is at threat”)!