eToro Review

With the arrival of online trading, a lot of trading platforms have turned up online. Every trader in the market looks for a broker who can offer innovative tools and good research and is cost-effective at the same time. And an online broker can easily help you start trading in the different assets. The online brokers offer the best analytical tools that can help traders to trade their assets effectively. You need the right online trading platform to boost your possibilities of earning profits via trading. eToro is a great trading platform that comes with a social trading feature to enhance your online trading experience.

eToro is an excellent online broker who lets traders trade a range of asset classes from different countries. The firm was launched in 2007 by brothers Ronen Assia and Yoni Assia and it soon became a well-known name in the social trading industry because of the superb social trading platform it offers. The exceptional customer support and a superior social trading platform with features like CopyTraders are what makes this broker stand out. eToro has been recognized for innovations and the introduction of different features that took online trading and investments to a new, higher level.

Regulations

eToro has gained immense popularity in a short time period, which testifies that traders trust this broker for their diverse trading needs. eToro is regulated by FCA and CySEC. And eToro uses great SSL encryption technology to ensure that the trader’s personal information and funds stay safe and secure.

Reliability

This is a major concern for most traders as they wish to make sure that their trading accounts and money are safe with an online broker. They also want to ensure that their trades are executed efficiently. eToro has a solid relationship with MiFID that helps protect clients and their money. eToro takes its reliability seriously and this offers all its clients the information needed to make well-informed decisions.

Trading Instruments

While choosing the best trading platform for you, you should get a complete understanding of what you will get to trade with the broker. When it comes to eToro, you can trade Forex, cryptocurrencies, commodities, and even stocks. If you’re a US-based trader, you’ll get a chance to trade the cryptocurrencies using eToro’s platform. The platform also lets you trade many famous names when it comes to stocks.

You can also trade commodities using similar products like stocks. But if you choose to trade commodities, you’re limited to CFDs only. You will also have the ability to trade cryptocurrencies and Forex using this platform.

Mobile Platform

A mobile application is of great benefit when it comes to an online trading broker as the markets never sleep. With a mobile platform, you can access your accounts even on the go. eToro is available for the traders both on Google Play Store and App Store, letting you trade from anywhere and at any time. Just like with the desktop version, you can access an eToro account and carry out important trades. This lets you adjust your portfolios and make suitable trades as the market changes.

Opening an Account

It is simple to open an account with eToro. Visit the homepage of eToro’s website and start filling the required information. Once you do this, your account gets open, you’ll have to verify your trading account using an identity proof. It will include your name, your photo, date of birth, date of issue, and expiry date. Doing this will guarantee that you’re verified and you can then start operating your account and withdrawing from it securely.

You will also wish to make sure that you’ve a demo account as it’s where you can easily test the strategies and get known with the platform.

Social Trading

Social trading product is exclusive to eToro. Social trading lets traders imitate the trades of other people to generate similar returns. It is great for people who can rely on other trader’s judgment when it comes to trading and are looking for passive incomes. Social trading product is used by eToro dues of its reliability, simplicity, and profitability. Using this, you can test the time frame and strategies to find the one that suits your needs the most.

In case you are a newbie trader and have no to limited knowledge of investments and trading, you are suggested to take time to understand who you’re copying so that you don’t lose your money while trading.

CopyFunds

CopyPortfolio is another famous product of eToro that is similar to social trading. With CopyPortfolio, you can select to invest in two products that include the market portfolio or top trader portfolio. Market portfolios are built with commodities, ETFs or CFD stocks whereas the trader portfolios let you imitate the top-performing traders. With this product, you get the benefits of mimicking what other successful traders and investors are doing. So, start putting your money in the markets by looking at the market portfolios.

Customer Services

eToro is well-known for its customer services. You will get an FAQ section that answers all the common concerns of traders; however, if there is something that you don’t find there then you can book a ticket and generate a query which will be answered quickly.

Conclusion

To make online trading accessible and simple for everyone, eToro has become one of the leading online brokers. eToro has a clean and strong platform that is simple to use for both novices and experienced traders alike. It is known to offer both short-term and long-term trading options, so you will likely find any product that won’t fit in your needs. You also get a chance to take benefit of social trading on this platform, which lets you view and trade like other successful traders. eToro also focuses on being secure and offering traders with the educational tools needed to make sure that their trading stays latest with suitable information and news. So, eToro looks to be the right platform for each and every trader out there.