A multi-asset brokerage and social trading company, eToro focuses on offering copy trading and financial services. eToro is a well-known broker that has managed to create cutting-edge, proven technologies that offer traders with intuitive and powerful tools to enhance their trading performance. This online broker lets you trade, buy, and sell many different financial instruments. eToro claims to serve more than 10 million users around the world. It is the leading broker who assisted change the ways traders trade in the markets.
eToro was founded in 2007 by brothers Ronen Assia and Yoni Assia with David Ring. And in 2010, the broker launched its CopyTrading feature and the social investment platform – OpenBook. Now you can trade cryptocurrencies, equities, stock market indices, forex, commodities, ETFs, and more on this platform. All this makes the eToro platform suitable both for newbie and experienced traders alike.
- Low fees
- Intuitive and simple social trading platform
- Trade a range of cryptocurrencies
- Highly regulated
- Thousands of assets to trade
- Investors can earn from followers
eToro is regulated by three important financial bodies. In the UK, Financial Conduct Authority regulates eToro and eToro (UK) Ltd manages it. While on continental Europe, it is regulated by CySECand is managed by eToro (Europe) Ltd. This makes it a completely legit platform to make trades.
As a regulated broker, eToro obeys all the regulatory requirements that are imposed by different regulatory bodies. As an imperative element of regulation, eToro uses the latest and most modern encryption security and technology system to accomplish the security of clients’ data and funds. Moreover, the broker keeps the funds of its clients in Tier 1 banks only for segregation and safety. This platform doesn’t have any kind of hidden fees and is fully transparent when it comes to the social trading platform. It also ensures to keep the users well-informed about any risks associated with cryptocurrencies trading.
Social Trading on eToro
Regardless of your experience, selling and buying assets through the eToro platform is very simple. eToro is known to be one of the first ones to launch the social trading phenomenon. Everyday investors can discuss, debate and share portfolio strategies through this platform and novice traders can copy other traders’ investments. Thus, eToro has become one of the largest and the fastest developing brokers in recent years.
CopyPortfolio is a wonderful portfolio management service offered by eToro. It lets you copy different markets depending on the investment strategy. This feature can help you cut down on risks and expand your portfolio. You can use CopyPortfolio service with a minimum investment of $5000. You get an option to select from the 3 portfolios mentioned below:
Crypto-currency: It focuses on 2 popular cryptos including Ethereum and Bitcoin.
CryptoPortfolio: It focuses on cryptocurrencies having more than $1 billion market cap.
CryptoEqual: It consists of large-cap cryptos.
eToro covers thousands of financial assets to trade. Every asset class has its characteristics and it can be traded using different investment strategies. These include commodities, cryptocurrencies, currency pairs, stocks, market indices, and ETFs. The newest addition to this broker lets you trade cryptocurrencies with easiness.
eToro has a proprietary platform that has been built in-house. This platform enables both social trading and individual trading. Moreover, you do not need to download or install any software for this. Use your web browser to access this platform directly. With this web-based platform, you can browse traders, assets, and strategies, execute your trades, and even manage your account. You are definitely going to like its simplicity.
Mobile Trading Platform
For the convenience of clients, eToro has a mobile trading platform as well. You can either download it for the App Store or the Play Store depending on your device. It lets you do everything that you can do on its web-based platform from your comfort. With this mobile trading platform, now you can easily manage your trades using your smartphone or tablet.
Except for the updates and market analysis offered by the other traders on eToro, the platform also offers a range of conceptual and educational tools like articles, videos, eBooks, webinars, and more. Once you join this platform, you can rest assured to get all this for free.
You can trade for free in Europe using eToro, while you will have to pay a low fee if you are a non-EU client. The fee comes in the form of spreads, which is the difference between the ask price and the bid price. There is an inactivity fee also but it’s okay since there are no account, custody, and deposit fees. The withdrawal and currency conversation fees on eToro are a bit higher. But they will charge only when you deposit or withdraw money in currencies except for US dollars.
eToro has a committed customer service department. The broker has almost all the common concerns and issues addressed in its FAQ section. However, if your question or concern is not included in that you can then submit a ticket with your query.
The exclusive benefits and features provided to the eToro users justify the platform’s great popularity across the world. Its large community of investors, traders, copyable portfolios and followers since its launch are also quite impressive. Moreover, eToro keeps on increasing its offering both in the form of tradable assets and geographically. eToro is an exceptional trading platform and a multi-asset broker for the newbies. Seasoned traders will also benefit from the features eToro has and they will appreciate them highly. Big thanks to lesser limitations and greater leverage.
So, whether you’re a short-term trader or long-term, a seasoned trader or a complete newbie, eToro has all that you need to fulfill your trading and investing needs under one roof. It provides you with every functionality that you need to trade professionally and efficiently.