Have you got questions about eToro, the leading social trading platform? Have you ever thought about investing in cryptocurrency? Are you interested in social trading?
Get your answers and helpful social trading resources in this FAQ roundup!
eToro is one of the best social trading platforms available! It has options for any trader at any skill level, whether you consider yourself a top trader already or whether it’s your first-ever trade. There are lots of features available to make your trading experience as seamless and successful as possible.
There are a lot of questions about social investing out there, and about eToro specifically. In this article, we will answer some of the most frequently asked questions about the social trading platform eToro, and give you the information you need to start trading!
What is eToro?
eToro is one of the most popular social trading platforms for investors. It was developed in 2006 and has gone from strength to strength ever since. eToro allows investors to trade in a myriad of assets, including CFDs, real stocks and shares, Forex and cryptocurrencies.
It allows users to set up both live and demo accounts to practise trading without any of the associated monetary risks, and to develop a deeper understanding of financial investment before they part with their own money. This creates an environment of learning and understanding to fuel better, more informed trades with real cash later on.
What Is a Social Trading Platform?
In short, a social trading platform is a platform where you invest in a more social style; the clue is in the name. This means that there is the option to trade in the style of another trader or to learn and discover on the forum.
Social trading platforms are a great tool for beginners in investing or those with just a casual interest in trading and investing. It’s a good way to let your investments work for you instead of the other way around, but with minimum effort and input from you. As long as you take the time initially to choose a good investor to copy, they’ll do all the work for you! If you want to further mitigate the risk of your portfolio, you can follow a diverse range of traders. eToro limits the number of traders you can copy at 100, although this is an extremely high amount to follow. Instead, try copying two or three to keep your portfolio diverse in terms of risk and lucrativeness.
What social investing allows you to do is copy the investing and trading strategies of successful investors. You can also share strategies with other investors and engage with the online community. This makes some aspects of eToro similar to social media. There is a sense of community and friendship available on eToro that enriches the traditional trading and investing scene; you can read blog posts by experts and comment in order to deepen your understanding. By reading these posts and opinion pieces, you can see all of the experts’ thoughts in one place without strenuous research and extra effort. This means you have more time to make trading work for you, and you can engage in Passive Trading!
This is a great tool for people just starting out in investing. Why? Because it allows you to just copy the trades and investments of people who have already done the work and the research to become successful. This makes it easier for you to make passive income whilst you take the time to educate yourself and branch out into your own trades. It also shows you an example of success, and how to best go about trading. By comparing the top-ranked traders, you can also see which systems of trading appeal to you, and which do not.
Everyone who wants to be successful looks to others for guidance on how to do it. Runners may look up to Usain Bolt, or Mo Farah, and writers look up to Charles Dickens. It is not any different when it comes to investing. Successful traders combine years of experience and an in-depth understanding of the market to make the best trades and perfect the best method. Why not copy the strategies of the successful investors and traders you admire?
Another great thing about many of these social investing tools? If you don’t like 100% of an investor’s strategy, you are able to adjust your copy to better fit your preferences. This means that you can tweak your trading experience until it perfectly suits what you’re looking for. You can create a completely unique, diverse portfolio whilst still following the guidance of industry experts.
These are just a few of the many reasons why social trading is an excellent tool and why you should consider doing it yourself. Social trading is completely suitable for beginners, but also offers an opportunity for experts to increase their own profits by publishing their trades for people to copy. No matter your skill level, copy trading on a social trading platform such as eToro provides exclusive prospects.
What Makes eToro The Best social trading platform?
There are many social trading tools out there, but we believe that eToro is the right one for you for a myriad of reasons.
eToro has been around since 2007 and has been making investing and trading more accessible to people ever since. They have survived many financial downturns and recessions, and therefore offer a stable, secure platform to begin investing on. Anyone can use eToro, without dependency on financial institutions, as long as they have a little to invest and know how to copy a trader. Making trading accessible opens up endless opportunities for almost anyone to find financial liberation and escape the 9-to-5 cycle. Anyone who wants to trade can trade.
There is also an incredibly intuitive eToro app that anyone can download and use, which works in a similar way to the website. You can start copying trades today if you like, even on the go!
You can copy anywhere from $200 to $500,000, and you can scale your copy to make it more affordable for you, if you like. There is absolutely nothing stopping you from beginning your investing journey today!
Have More Questions?
Welcome to the wonderful world of social investing! We’re so excited for you to take your first steps into becoming a successful investor and trader.
We hope that we were able to answer some of your questions about the social trading platform eToro. If you have more, you can always look at our FAQ.
Thinking of Investing or Trading? Why not just copy professional traders!
My name is Joseph Moricca, I run Velox Investments and I am an Investor on eToro and have been for a number of years.
Do you want to get involved in trading but don’t know where to start?
Do you want to Diversify your income or simply Make more money?
I have used eToro for a number of years but did not realise the potential to make a solid return consistently until I started copy trading!
If you want to find out how to make money online then read my Beginners Guide to trading on eToro.
To start RIGHT NOW, Sign up to eToro through the link below and take advantage of the free demo account! I mean really what do you have to lose from following my very simple strategy on a demo account! Literally nothing and you might find that you actual find a hidden GEM!
Other Useful Links for learning
- eToro Trading Academy
- Market information: The Motley Fool, The Economist, The Financial Times, Zero Hedge
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
This guide is intended for educational purposes only and should not be considered as investment advice. The author and publisher are not liable for any losses or damages you may incur as a result of you following the advice given on this page. The etoro.com layout and content may change since this content was published.