Popular social trading site eToro has established a reputation for being one of the easiest-to-use trading platforms available. Users can purchase and sell a variety of assets on the platform, including cryptocurrencies, equities, commodities, and FX. In-depth study of eToro’s features, costs, security, and general usefulness will be provided in this review.
How to Start Trading on eToro
The procedure of opening an account on eToro is simple and only requires a few simple steps. The platform allows users to set up a password and supply basic personal data like their name and email address. Users must present identification and address proof as part of the verification procedure after registering an account. This procedure guarantees that eToro conforms with Know Your Customer (KYC) and anti-money laundering laws.
Users can fund their accounts using one of the accepted payment methods after the account has been validated. Credit/debit cards, bank transfers, PayPal, and a number of e-wallets are some of these options. The eToro minimum deposit requirement is $200.
eToro’s features
eToro has a number of characteristics that make it a prefered option for traders, such as:
- Social Trading, first
One of eToro’s distinctive features is its social trading function, which enables users to imitate the trades of other profitable users on the network. Users can use the “CopyTrader” feature, which automates the replication of expert traders’ real-time deals. Users can discuss trading ideas, track the portfolios of other traders, and communicate with them.
- Trading in cryptocurrencies
Users of eToro can trade a number of cryptocurrencies, including Litecoin, Ripple, Ethereum, and more. Additionally, users can trade cryptocurrency pairs like ETH/BTC and BTC/USD. Additionally, the platform provides cryptocurrency CFDs, which let users speculate on cryptocurrency price changes without actually owning the underlying asset.
- Trading Several Assets
Users of eToro can trade other assets like stocks, commodities, and FX in addition to cryptocurrencies. For customers who want to diversify their portfolio, this makes it a flexible trading platform. The trading platform provides more than 2,000 different assets, including well-known equities like Tesla, Apple, and Amazon.
- Friendly User Interface
The user-friendly interface of eToro makes it simple for new users to get around the website. The platform offers a simple layout with straightforward directions. Users can easily track the performance of their portfolios by accessing real-time price charts, trading indicators, and trading history.
- App for mobile
Users may trade while on the go thanks to the eToro mobile app, which is available for both iOS and Android devices. The web platform’s features, such as social trading and real-time price charts, are all available on the app. Mobile traders frequently choose this software since it is simple to use and navigate.
- Consumer assistance
Through email, live chat, and phone support, eToro offers first-rate customer service. Additionally, the platform has an extensive knowledge base that offers users useful resources and instructions. Users can quickly and easily get assistance when they need it thanks to the customer care team’s responsiveness and expertise.
Fees
Every trade on eToro is subject to a spread fee, which is the distinction between an asset’s buy price and sell price. Depending on the asset being traded, the spread cost can range from 0.75% to 5%. The platform is a reasonable choice for traders because it levies no commision fees on deals.
