For overall novices the eToro platform and the principle of trading itself can be a little intimidating at. So with the advantage of hindsight and my own individual trading experience on eToro, I wanted to create a comprehensive no-nonsense guide to help others get the very best outcomes as quickly as possible. And here it is …
eToro would describe themselves as an available trading platform that incorporates 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 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, consisting of a recent BBC documentary called Traders: Millions by the Minute.
The most unique feature of eToro is probably ‘CopyTrader’. This allows 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 appearance of, you can allocate some funds to instantly copy their trades.
Another huge plus is the ‘Popular investors’ program. This rewards users based on how many photo copiers they have in the form of month-to-month 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 relatively quickly! The majority of the need-to-knows you’ll pick up by playing or reading this guide with a demonstration account. Etoro User Names Examples
Relax at the start and make sure you understand what you’re doing before investing bigger quantities of cash. Trading on eToro can be really successful but it is essential to keep in mind that, whenever you’re dealing with the markets, you can lose cash too (” your capital is at risk”)!