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You may know the potential high profits that are associated with trading, but do you know how to do it successfully? If you have no idea how to trade, or you simply haven’t got the time to learn and keep up with financial trends, then I have the perfect solution for you. eToro (eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk) is a social trading platform that can help by-pass these time restraints and learning processes. This means you have the chance of making profits without putting the effort in.
Why Choose eToro?
eToro is the world’s leading online social trading platform. They have over 5 million registered users from over 140 countries worldwide. eToro combines a unique trading platform with an integrated social network. This ‘social investing’ concept, enables you to follow, copy, and communicate with other eToro traders, just like Facebook. The minimum deposit is back to $200 and you only need $200 to copy a trader. You can deposit in £GBP and other major currencies. It then gets converted into $USD in your account. The minimum withdrawal is only $50, although there is a flat fee of $25 per withdrawal transaction.
I think eToro’s most unique feature is ‘CopyTrader’. This feature allows you to allocate some of your funds to automatically copy someone else’s trades. So find a successful, reliable trader, click copy, then sit back and let the professionals do all the hard work for you. CopyTrading with eToro is basically like having a bank account with the potential for amazing interest. When looking for traders, it’s best to assess their portfolio, activities and risk score, before copying. If you are unsure on which trader to copy and don’t want to use real funds, then you have the opportunity to copy someone using virtual funds first to see how it goes. Sometimes eToro send emails with recommendations for top traders to copy.
I only have a small amount of funds in eToro, so I’m only copying one trader at the moment. However, it’s recommended to distribute funds to different traders and not have all your eggs in one basket, incase a trader’s performance drops. You can also pause or stop any copy trading when you want. I copy trader George Thomson @misterg23 from ‘Save The Student’ who has healthy and consistent gains; a 39.91% increase in the last 12 months (as of 17/07/2018), so highly recommended. On his profile, he recommends a copy amount of at least $1000 for best results. However, it’s fine to copy with lower amounts too. I’ve only invested around £300 so far and will just add to it when I have any spare money available.
Your Capital is at Risk
Disclaimer: All trading involves risk. Profits are not guaranteed. Only risk capital you’re prepared to lose. Past performance is not an indication of future results. This content is for educational purposes only and is not investment advice. eToro is regulated by the CySEC and the FCA.
Page Last Updated: 17/07/2018