eToro review – How to trade

October 25, 2022

In its own words, eToro bills itself as an easy-to-use, a social trading tool for the stock market. It began in 2006 and has grown to be the most significant investment network in the world. They were started in 2006. Twenty million people use eToro, a secure trading site.

Social investment in general, as well as eToro in particular, has received much coverage in the mainstream media. The new BBC documentary on traders is also included on millions by the minute.

eToro’s ‘CopyTrader’ is undoubtedly its most distinctive feature. It allows you to search through other traders and check their trading history. Throughout a certain period, this encompasses both profits and losses. It’s possible to set aside money to automatically invest and mimic the moves of a particular trader you admire. The ‘Popular investors’ program is also a significant benefit.

Let’s see complete eToro Review:

Creating an eToro account

1.    Sign up for eToro.com

Here, you won’t have to fill out a tonne of paperwork. eToro’s sign-up process is simple and free. Choose a username and fill out the short form. eToro requests a phone number to safeguard the privacy of your account.

Register on eToro

You’ve just opened the door to online and real-time stock trading. You must complete your eToro profile before you can start trading.

2.    Complete your profile

eToro’s platform may be tailored to your specific needs by taking this step. There is no need to input an ‘ID Number’ if you are unsure about your personal information in the first section. This section includes some questions about your prior trading experience. Do not worry about the answers; be honest. This is not an exam.

3.    Deposit

To deposit funds, click on the button labeled “Continue to deposit” (or “Deposit funds”). eToro’s primary currency is the US dollar. However, you may deposit in other major currencies, such as the British pound (£GBP). Your account will be credited with $USD.

Taking a cue from successful traders (Copy People)

To begin investing in eToro, all you need to do is follow these instructions. Every deal they make on eToro is opened in your account simultaneously and sold when they do so. Every dollar you spend is directly proportionate to the percentage of your overall account balance that you designate for it. You’ll see a similar rate of return as they do. It’s not always simple to find trustworthy traders on eToro to emulate. You have to know what to look for and what to avoid.

eToro vs. Kraken

Here is our eToro vs Kraken comparison:

Trading on eToro has been around for a long time. eToro is a pioneering trading platform with over 17 million members. It is available in over 100 countries, even though the firm behind it was formed long before Bitcoin was ever a thing.

However, Kraken was founded barely two years after Bitcoin’s inception and has since become one of the most well-known exchange platforms in the cryptocurrency industry. Kraken’s security is a prominent selling feature, as there has never been a hack on the service. EToro is known for its social trading function.

Should You Trust eToro?

Even though most cryptocurrency brokers can be relied upon, it’s always better to be on the safe side. Since you’ll be putting your own money at risk, you’ll want some assurances that these sites won’t simply disappear with your money.

eToro is fully regulated by reputable financial regulators, including the FCA and CySec. With such regulation, you can rest easy knowing that your money will be safe and you won’t lose it.

eToro’s website also provides ample information to show how industry-recognized security standards safeguard your funds. You may rest easy knowing that eToro will never disclose your personal information to a third party without obtaining your express consent.

Room for Improvement for NFTs in Our eToro Review

There is no NFT marketplace at eToro, so that’s the bad news out of the way. Anyone who read our Binance review might be a little disappointed since that broker provided users with a fast and straightforward option to acquire or sell NFTs.

Despite lacking an NFT marketplace, eToro is strongly associated with these digital assets. Because eToro is one of the world’s most significant sites to acquire Ethereum, the cryptocurrency on which most NFTs are based, this is why. So you can buy Ethereum on eToro, transfer it to your MetaMask wallet, and then link your MetaMask wallet to a conventional NFT marketplace where you can begin trading NFTs.