If you’ve ever researched or been interested in investing, brokers, trading and other financial services, the name eToro will surely be familiar to you. We are talking about one of the leading investment companies.
eToro was founded in 2007 by Yoni Assia, and although it is headquartered in Israel, it also has bases in four other countries, including the United Kingdom and the United States.
Throughout its history, eToro has been adding companies in the sector and today is estimated to be worth almost 9 billion dollars.
eToro defines itself as an “intermediary”, better known as a broker, between those who want to invest and those who want to sell in the various financial markets.
Yes, on eToro the user will find shares in a wide range of companies, currencies, commodities, cryptocurrencies such as Cardano and the popular stock market indexes.
In that sense, there is a lot of talk about eToro’s Copy Trading function or system and here you will learn all about it.
What is Copy Trading?
Before going into details about the concept of Copy Trading it is worth remembering that to use this system on eToro you need to learn the terminology and what all the tools you can find in the broker are for.
That said, with the Copy Trading system the eToro platform aims to give the user the ability to automatically copy everything an investor has done and apply it to their own purchases.
To make this possible, eToro provides information that helps the user to choose the investor profile that best suits what they are looking for. Which you can test using the eToro demo account.
For example real-time movements, first and last name, photo, profit and loss over the last three months, among other data. This way you can follow a trader and copy him.
In fact, it is the only platform that is so fully engaged in “Social Trading”, which is reflected in the eToro customer reviews.
In short, with eToro’s Copy Trading option you can build a trading portfolio based on what other traders have done that you admire for the success they’ve had.
It is a very good option for those who for various reasons do not have time to learn about finance and want to invest in eToro cryptocurrencies. However, it is always recommended that people take their time to learn.
How to use eToro’s Copy Trading tool?
The first step, obviously, is to register on the platform, make an eToro login and make a deposit to have the money to invest.
Then, in the “Editor’s Choice” section you will find a list of the most popular traders, which are characterized by a low investment risk and in the last three months have recorded more profits than losses.
Similarly, the user can search for investors manually using various search filters.
Once you have found the profile you want to copy, enter its profile and click on the “Copy” option and indicate the amount of money you want to invest. The latter should be done carefully so as not to allocate the amount of money you do not want.
Is eToro a safe broker?
Incredible as it may seem, there are those who wonder if it does not pay, but the reality is that we are dealing with one of the safest and most transparent investment intermediary platforms in the world.
It has a physical presence in five countries and, for example, is registered with the Cyprus Securities and Exchange Commission (CySEC). In addition, eToro bitcoin is supervised by the Financial Conduct Authority.
The same applies to the eToro app, which is available for the most widely used operating systems at the moment.
Frequently Asked Questions
How much is the minimum amount I can invest?
In UK the minimum amount of money you can deposit with eToro is 50 USD, but in the end it all depends on the minimum investment of the product you want to invest in, as there are some products that may require up to 500 dollars.
How do I verify my eToro account?
To verify your account you must send two photographs (one on the front and one on the back) of your identity document. Make sure that the photo is of good quality because it is important that all the data is legible.
Is there an eToro app for Android?
Yes, you can download the application for mobile devices with the Android operating system from the official store, the Play Store. The same applies for iOS from the App Store.
