For total newbies the eToro platform and the idea of trading itself can be a little intimidating at. With the benefit of hindsight and my own personal trading experience on eToro, I wanted to put together an extensive no-nonsense guide to help others get the best results as rapidly as possible.
The platform and the larger 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 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 made or lost over any given period. If you find somebody you like the look of, you can allocate some funds to instantly copy their trades.
Another big plus is the ‘Popular investors’ program. This rewards users based upon the number of photo 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.
With the social and copying features, you’ll certainly discover a terrific offer reasonably quickly! Most of the need-to-knows you’ll pick up by playing or reading this guide with a demonstration account. Ireland Tax Reference Number Etoro
Relax at the start and ensure you understand what you’re doing before investing larger quantities of cash. Trading on eToro can be really rewarding 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”)!