Based in Cyprus, eToro was established in 2007. The broker is renowned for its special focus on copy and social trading which has further allowed eToro to gather over 10,000,000 clients across the globe. As one of the leading brokers in the world of trading, eToro offers more than 2000 financial instruments for trading. These include CFDs, Stocks, Forex, ETFs, Shares, Indices and Cryptocurrencies (including Ethereum, Bitcoin, Litecoin, Ripple etc.). In this article, find out more about eToro’s copy trading platforms as well as a general review about the broker.
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As far as the trading platforms are concerned, eToro offers both the proprietary web based platform and mobile applications to its clients. The broker aims to make the markets available to all types of traders by providing them with a highly intuitive and easy to access platform. The many features of eToro’s trading platform includes virtual portfolio, research tab, one-click trading, stop loss and take profit, procharts and offline trading among others. Also, he minimum initialdeposit for setting up an account with the broker is $200.
Deposits and Withdrawals
In order to deposit funds with eToro, traders can choose from among different methods to match their requirements. These include MasterCard, bank transfers, wire transfers, PayPal, Netteller, Webmoney UK, PayPal, Skrill, Yandex as well as others.
On the other hand, to withdraw funds, traders are required to submit a withdrawal form and the money is send either through bank transfer, PayPal and debit or credit card.
Regulations and Safety
One of the biggest benefits of using the eToro platform for trading is that it is fully regulated. The broker adheres to the guidelines of the CySEC, ASIC and FCA. Apart from this, eToro also exercises precautions which helps the broker in ensuring the safety of client’s personal information and funds. The broker keeps the funds secure with the tier-1 European banks.
eToro Copy Trading Guide and Review
Whether you are wondering is copy trading good or not or even if you are searching for the best copy trading platform, eToro is the right platform for making the most of copy trading opportunities. As far as eToro is concerned, the broker offers a broad set of tools including social trading to traders. In fact, eToro is one of the best copy trading brokers available on the market today. Continue reading to find a comprehensive etoro copy trading guide and review.
There are ample ways to trade in the forex market and copy trading or social trading is definitely one of the safest way to do that. With copy trading, traders can monitor the progress record of top or professional traders as well as emulate their actions or strategies to earn profits through forex trading. Traders who opt for the eToro copy trading platform are able to diversify their portfolio across a handful of successful traders as well as avoid any losses. This also helps them to offset the risks of leveraged trading. As far as eToro’s copy trading platform is concerned, it is highly advanced and offers a number of trading tools that are ideal for both experienced and new traders alike.
How Copy Trading Works at eToro?
People who join the eToro social trading platform can well become of their popular investors. This is entirely dependent on how they perform on the market and the profits that they earn through successful trading. Thus, to become a part of the eToro’s copy trading network, you must first set up an account with eToro. After you have set up the account, simply opt into their network and start copy trading for your own benefit. In order to become a verified copy trader, you must display your actual name as well as other personal details that are duly checked by eToro staff members.
Selecting a Popular Trader and Strategy
Once you are on the eToro network, you have the option of sifting through the poplar investors with the help of tools such as Assets traded, Gain percentage, Geographical location, Profitable weeks etc. Also, after you’ve selected the popular investors, they will trade your funds in a completely passive way. They are paid a sum of $350 every month after they have acquired a minimum of 50 followers. Apart from this, they also receive discounts on the brokerage fee that is paid to them. However, the only issue with the eToro platform is that they do not disclose the account values of the popular investors. Thus, there isn’t any way in which popular investors can be ranked on the basis of their holding size.
There are many other metrics which you can use for evaluating the Popular investors. You will be provided with a one-year risk score table which is designed in accordance with a formula created by eToro, along with a graph that represents the total number of copiers that the investor has gathered over time. In addition to this, you can also look at the total trading amount as well as profit ration earned by the popular investors, and three of their widely traded instruments. Traders can also view their existing open trades as well as portfolio distribution, which is helpful in deciding whether you prefer the markets that they are trading or not.
Investing Your Funds to Earn Profits
The platform also allows you to track the previous performance of the popular investors over multiple time periods or range. Traders can compare their performance with regard to the major stocks and indices that they prefer. It must be noted that traders need to make a small investment of 100 dollars per trader and they can invest only 40percent of their holdings to one particular trader.
Apart from copy trading, traders also have the option of using Copyportfolios, which is one of the most innovative creations of eToro. Rather than investing your funds through copying or following a trader, traders can use eToro’s Copyportfolios to invest in any fund, known as the ‘Market Copyportfolio’ or in the ‘Top Trader Copyportfolio’.
While the Market Copyportfolio is similar to that of an ETF, they are designed to extract the benefits from a particular investment thesis. There are a number Market Copyportfolios that traders can opt for and it is always good to conduct some amount of backtesting before you invest in Market Copyportfolios.
On the other hand, the Top Trader Copyportfolios put your funds with the top traders on the eToro platform. This provides the traders with a brilliant way to spread their funds across multiple skilled trades, while minimizing the risk related to catastrophic losses.
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|Regulator||CySEC, FCA, ASIC||FSC||CySEC, IFSC||MSB, MTR, DCE|
|Assets||Forex, Stock, ETF, CFD, Crypto,...||Forex, indices, commodities, shares, crypto,...||Forex, stock, Commodities, Indices,...||Crypto, indices, commodities, forex,...|
|Min deposit||$200||$100||$100||0.0002 BTC|
|Bonus||$100 bonus - 100% deposit||$100 bonus|
|Review||Read review||Read review||Read review||Read review|