Founded in 2007, eToro is an online trading platform that lets users invest in stocks, crypto assets as well as forex and CFDs. The firm began as a platform to understand trading in a fun and easy way. In 2010, eToro successfully obtained its mission to make trading available to everyone without being dependant on traditional platforms. They did so by opening up the world’s first social trading platform where everyone is invited to join the FinTech revolution.
With their online WebTrader and CopyTrader, even those with minimal understanding can become pros in the world of trading. Today, the Cyprus based company founded by Yoni Assia and Ronen Assia is one of the leading platforms for trading on a global scale.
The Cyprus Securities Exchange Commission (CySEC) regulates the company while the UK’s Financial Conduct Authority (FCA) authorizes it. The European Securities and Markets Authority (ESMA) also regulates and oversees the trading on this platform across the EU.
Since the launch of eToro’s trading platform in 2010, it has caught the world by a storm. Today, the platform is called eToro CopyTrader, and it uses the trading features of the OpenBook and WebTrader platforms. This means that you can take part in social trading while also getting all the basic and advanced features that are offered by online trading.
The eToro CopyTrader also introduces unique features for those using this trading platform. A term referred to as “Popular Investor” allows you to make money based on the portfolio you create. If you opt to take part and become a Popular Investor, you open up your trading patterns for others to view. Once you get a certain number of copiers, eToro provides a specific income on the spreads that you pay.
In par with the Popular Investor, eToro also launched the CopyPortfolios. This launch makes use of artificial intelligence to point out the traders that have the steadiest portfolio and tend to earn double-digit returns on their investment. An investor can then copy this portfolio or specific funds in the portfolio that are likely to provide higher returns.
To align with its vision of Simplicity and Inclusivity, eToro provides only one kind of trading account. This account is easy to set up, and the minimum deposit marks up to $200, and the minimum trading value is set at $1. If you wish to be a part of the Popular Investor program, the minimum value for live trading stands at $1000.
If you are new to the fintech and trading world and want to try your hand at the same, you can choose to open a free demo account. Along with the other guides on the eToro website, the demo account gives you a feel of what exactly a trading day looks like while making you familiar with its interface. Once you are familiar with the same and wish to switch to investing real money, you can simply press on the “Real Account” tab and deposit your initial sum.
With humble beginnings and great ambition, eToro began as a trading platform for currencies, commodities, and other assets. In 2012, it opened its users up to the global stock market by introducing a wide range of stocks. Today, the company deals with 53 currency pairs, 12 market indices, 957 types of stocks, seven commodities, and 53 ETFs on a global scale.
The firm has also earned the title of having the largest range of crypto assets and are the pioneers of accessibly cryptocurrency trading. They wish to expand this reach to include a larger number of investments and increase its range.
Aside from this, eToro has made its platform innovative and accessible through various means. The following are some of the upgrades and innovations that make eToro stand out as a trading platform.
Trading is not simply limited to a web browser or installation on a laptop. With the launch of its free mobile app in 2013, eToro opened up the door for its user and introduced on-the-go trading. The users may simply install this app on their mobile phones and get the latest updates about their investments.
The mobile app is compatible with both iPhone and Android users and ensures fast speed and an easy to use interface. Security is one of the main concerns when it comes to trading apps. With eToro, the app retains the same amount of security as its web counterpart while also retaining all its functions.
The app also included customer support and a watchlist, so you don’t miss a chance to sell or buy one of your trades at the right time. The latest news delivers through push notifications. The app has regular updates to keep on par with the web application.
The Crypto Wallet is a new upgrade that will allow multi-crypto on a chain wallet. The rollout of this upgrade is set to open up a high level of security on the transaction of cryptocurrencies. It supports multi-signature sign in so users don’t have to reveal their primary key. This means they can still view the blockchain transactions.
The mobile app will also support this upgrade, and cryptocurrencies will be sold through fiat currency. The upgrade will allow conversion from one crypto to another. In the initial phase, the conversion of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin will be allowed. As the crypto reserve expands, new currencies will be added as well. This upgrade will be launched to the platinum users of eToro before expanding its market to all of them.
When taking part in the fintech revolution and including yourself in live trading, there are multiple ways in which you can fun yourself. You can make use of credit cards such as MasterCard or Visa or connect your e-wallets, including PayPal, WebMoney, and Yandex. Bank wire transfers are also available for those who don’t have access to the previous options.
If you wish to withdraw your investments or profits, you will have to put in a minimum request of $50. Once the request is made, it takes up to 3 business days for it to process. After this, the money is transferred to your account. The eToro platform also charges a minimum conversion fee and withdrawal fee for each withdrawal made.
eToro is one in many of the trading platforms available globally. What makes it different is its unbridled customer support, revolutionary innovations, and drive to change the face of global trading and the future of fintech. eToro has been globally recognized through various awards and reviews.
In 2011, the trading platform won the Best of Show at Finovate Europe, making a mark in the global industry. After that, eToro has never looked back and thrived towards new heights. It has received mentions as an innovative platform in the Financial Times, Bloomberg, The Telegraph, and City A.M.
Furthermore, with a global community of more than 6 million people from 140 countries, the platform has indeed created a name for itself in the industry. eToro prides itself on being a simple, innovative, responsible, and secure model for easy and fun trading in every aspect. The portfolios can be personalized as well as collaborative, and if you’re just starting, you can make use of the many videos and tutorials to educate yourself first. With eToro, join the social trading phenomenon while excelling in trading activities.
If you are a beginner in the trading industry and looking to day trade, eToro is the right fit for you. This is because it provides many opportunities to earn a profit and understand live trading through its social trading feature. However, if you are an experienced trader, then choosing eToro for day trading may not be a good idea. This is because the platform chargers for spreads are higher than average. Day trading generally involves smaller margins on large volumes, and all the profits gains are swallowed up by the additional cost of spreads.
Customer support is available from eToro’s side 24 hours and on all days of the week. To contact the support team, you can reach out to the concerned department via email. There is also an option to send in a query in the customer support section. This feature is available on the web-based platform, as well as the mobile app.
The platform is available to its users 24/7. However, trading hours may differ according to the market opening and closing time. For example, forex is available around the clock, whereas the Asian markets are available from the start of the week. However, there is at least one market open throughout the world at all times of the day and night.
1:30 is the maximum leverage that you can avail of at the eToro trading platform.