For total newbies the eToro platform and the concept 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 detailed no-nonsense guide to assist others get the best outcomes as rapidly as possible. And here it is …
eToro would explain themselves as an available trading platform that includes a social component into investing. I ‘d describe them as Facebook for trading. They initially went reside 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 actually been commonly covered by mainstream media, including a current BBC documentary called Traders: Millions by the Minute.
The most unique feature of eToro is most likely ‘CopyTrader’. This allows you to arrange through other users and clearly see their trading history, including just how much they have made or lost over any given period. If you discover someone you like the look of, you can designate some funds to automatically copy their trades.
Another huge plus is the ‘Popular investors’ program. This rewards users based on the number of copiers they have in the kind 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 features, you’ll certainly discover a lot reasonably quickly! Most of the need-to-knows you’ll get by reading this guide or playing with a demo account. Why Do Etoro And Thinkorswim Have Different Prices
Relax at the start and make sure you know what you’re doing before investing larger quantities of cash. Trading on eToro can be extremely successful however it is very important to note that, whenever you’re handling the markets, you can lose cash too (” your capital is at risk”)!