For total newbies 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 a comprehensive no-nonsense guide to assist others get the very best results as quickly as possible. And here it is …
eToro would describe themselves as an accessible trading platform that incorporates a social aspect into investing. I ‘d explain them as Facebook for trading. They initially 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 broader phenomenon of social investing have been extensively covered by mainstream media, consisting of a current BBC documentary called Traders: Millions by the Minute.
The most unique function of eToro is probably ‘CopyTrader’. This enables you to sort through other users and clearly see their trading history, consisting of how much they have actually made or lost over any given period. You can designate some funds to instantly copy their trades if you find somebody you like the appearance of.
Another huge plus is the ‘Popular investors’ program. This rewards users based on how many 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 certainly discover a good deal fairly quickly! The majority of the need-to-knows you’ll get by playing or reading this guide with a demonstration account. Wirecard Etoro
Relax at the start and make sure you know what you’re doing prior to investing bigger quantities of cash. Trading on eToro can be extremely rewarding but it’s important to keep in mind that, whenever you’re handling the markets, you can lose money too (” your capital is at threat”)!