For total beginners the eToro platform and the concept of trading itself can be a little intimidating at. So with the advantage of hindsight and my own personal trading experience on eToro, I wished to assemble a comprehensive no-nonsense guide to assist others get the best outcomes as quickly as possible. And here it is …
eToro would describe themselves as an accessible trading platform that includes 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 biggest investment network with a community of 4.5 million users.
The platform and the wider phenomenon of social investing have been widely covered by mainstream media, including a recent BBC documentary called Traders: Millions by the Minute.
The most unique function of eToro is probably ‘CopyTrader’. This permits you to sort through other users and plainly see their trading history, including how much they have actually made or lost over any given duration. You can assign some funds to immediately copy their trades if you find someone you like the look of.
Another big plus is the ‘Popular investors’ program. This rewards users based on the number of photo copiers they have in the kind of monthly commission. The program likewise incentivises responsible trading, and we’ll discuss this in more depth towards the end of the guide.
With the social and copying functions, you’ll definitely find out a terrific deal reasonably rapidly! The majority of the need-to-knows you’ll pick up by reading this guide or playing with a demonstration account. Etoro Sipp
Relax at the start and make sure you know what you’re doing before investing bigger quantities of money. Trading on eToro can be extremely successful but it is very important to note that, whenever you’re dealing with the markets, you can lose cash too (” your capital is at danger”)!