EToro is a social trading company. It is extremely active as a broker and is one of the most innovative social trading companies. As a platform, Etoro is specifically designed for people who are not trading experts, making it a platform that is easier to navigate than others.
Register and Open an Account
Before a person can begin to trade on eToro, they need to take the time to register and open an account. This process begins with selecting the country that the new trader resides in. After this is complete, they must create their username and password. A phone number is also required to help maintain security. Before the account is created, the Terms and Conditions, Privacy Policy, and Risk Disclosure must be read and accepted. Once this is completed, the account has been made.
Deposit
The next step that needs to be taken is to deposit funds into the account. The minimum amount that can be deposited is two hundred dollars. Since it costs one hundred dollars to copy another trader, this is considered to be a good amount to start with. There is a button that is labeled, “Deposit Funds” on the account, and these funds can be deposited using a variety of methods, including PayPal. Until the account is verified, no more than $2250 may be deposited.
Explore
Once an account is created and funds are in place, it is time to begin exploring eToro. There are many different aspects of eToro that a new trader will be working with. First, every eToro page has an upper bar and a menu on the side. The upper bar includes the search bar, the notifications button, and the pencil. The pencil is the tool that will allow a person to write their posts or feeds.
Don’t be afraid to reach out to other traders if you need some advice – according to a recent review on https://investingoal.com/, eToro has over four million people using its platform and is used in over one hundred countries, so it’s more than likely that there will be someone willing to help, who speaks the same language as you. The news feed feature allows traders to see everything that the traders they are following are doing. Another thing that is important to investigate is the watchlist. This allows a trader to organise lists of people that they are watching and considering following.
The most important part of eToro, in many ways, is the Portfolio. This can be run in real mode or in virtual mode. It is critical for a user to be aware of which mode they are in, as virtual mode is operated like a training page, but the real mode shares trades with others on the platform. The portfolio is the place where open trades are visible, as well as a history of trades. The final thing to investigate is the feature that allows a trader to copy other investors. Once a person feels comfortable with the aspects of eToro, it is time to begin trading.
The eToro website offers comprehensive assistance to all new members, and companies like InvestinGoal provide detailed reviews of the program as well. Together with the accessible style of the platform and its openness to community collaboration, it is simple to start trading on eToro.
