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EToro Review - The Social Trading Pioneers - 3 Key Updates For 2022

Started by PocketOption, Dec 02, 2022, 12:42 pm

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EToro Review - The Social Trading Pioneers - 3 Key Updates For 2022

eToro Review 2022.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
eToro lead the way in Crypto trading. The lowest spreads (from 1% for BTC), their own wallet service and the largest number of Cryptos to trade. FCA Regulated.
This eToro review covers everything a trader needs to know about the eToro online platform. From fees, the demo account and becoming a copy trader, to explaining how social trading works and finding the traders who make money. Whether you are trading Ethereum, Bitcoin or Forex, eToro open up trading to everyone via their WebTrader platform.
Regulation & Reputation.
As a financial services provider that is based in Cyprus, eToro is subjected to the regulatory oversight of the Cyprus Securities Exchange Commission (CySEC).
Authorized under the CIF license no. 109/10, eToro has "passported" its authorization to the UK and is registered with UK's Financial Conduct Authority (FCA).
The European Securities and Markets Authority (ESMA) also oversee investment providers across Europe and influence regulatory rulings across the EU.
Trading Platform.
Since the launch of the revolutionary eToro trading platform in 2010, the firm has improved on the trading platform tremendously.
Today, the trading platform used is called the eToro CopyTrader.
This new platform incorporates both the main features and products of the old Openbook trading platform and Webtrader hence giving clients access to the best of both worlds from a single trading interface.
In addition to being able to copy trades and trade independently, eToro also allow their clients to earn extra income by becoming a "Popular Investor". This is not something many brokers can offer.
As a Popular Investor, the trader allows others to view his trading activities. Once the trader has managed to achieve a minimum number of copiers, he will be rewarded with cash and rebates on the spreads that he pays.
To qualify as a popular investor, you need to deposit a minimum of $1000. In addition, you must also recruit a copier for a minimum of 2 months with at least $500 equity or finance.
In line with keeping their reputation as an industry innovator, eToro introduced the concept of “portfolios" to copy.
The new service appropriately named as "CopyPortfolios" will allow traders to copy a range of assets selected by eToro.
These funds as categorized into Market CopyPortfolios and Top Trader CopyPortfolios.
eToro also deliver technical analysis and research tools on the platform. These features are flexible enough to benefit both professional and amateur traders. The offering includes deep market data across the range of products, which means strategy can also be back tested.
These tools allow analysis of real-time prices too of course. So trends can be identified and marked up. While other forex brokers may score higher in terms of analysis tools, the charts at eToro will suit the majority of trader, whatever their level of experience.
Trading Hours.
The platform is available 24/7 but markets will only be available to trade when the main markets for that asset are open. So US Stocks will only be available when US markets are open on Wall Street for example. Forex is available around the clock during the week, as there is always at least one market open somewhere in the world.
Weekend trading is available where markets are open, so Forex becomes available during Sunday and the Australian and Asian markets oen and start the week.
Mobile Trading.
eToro has also provided free mobile trading apps which their clients can download and install onto their smartphones and mobile devices in order to enable them to trade on the go.
These apps have been designed for both iOS and android powered mobile devices to allow full mobility and access to the financial markets at the same time. Other operating systems are also compatible.
You can deal on real-time prices, check what has been traded and open news and customer service sections – all from your device. Copy-trading and watchlists are also fully functional from the app.
The apps are very well thought out. All the functionality of the main web platform is retained, but is well laid out so does not feel cramped.
Security is also vital with mobile apps and the eToro applications are very secure, you need to be able to trust the app. The security tools within the android and iOS systems are utilised, so your account is safe.
All versions of the app are regularly updated. The most recent update saw the android version reduced in size by 50% – with no loss of functions. The iOS version was similarly improved.
Both saw a large increase in speed from the new, lighter programme.
eToro Copy Portfolio.
Trading Accounts Offered.
To simplify the trading process, the firm has opted to provide their clients with only one standard type of trading account.
Opening a trading account is a simple and straightforward process which requires you to fill up and submit the registration form.
Before you can participate in live trading, you need to place a minimum deposit of $200 ($50 for US based traders, or just $10 for UK based traders). And if you wish to participate in the "Popular Investor" program, you need to place a minimum deposit of $1000 before you can qualify for the program.
However if you are unsure and wish to try out the platform first before committing any real money, you can do so using the free demo account facility. This provides a simulator of sorts, though you still get to use live real-time prices.
The virtual balance allows traders to learn the platform at no cost.
The process is the same as signing up for a live trading account. Once you have signed up for the demo account, you can also switch to a live account status by selecting the "Real" account tab.
Instruments & Assets.
Over the years, eToro has expanded their assets to cover additional assets. Today, traders can trade with 53 currency pairs, 53 ETFs, 12 market indices, 7 types of commodities and 950+ types of stocks from all over the world. Fractional shares are also available, allowing users to own a portion of a single share and lowering the barriers to entry for beginners.
The firm have also been long time pioneers of cryptocurrency trading. They offer the largest range of cryptos anywhere and are focussed on expanding this market whenever an established token reaches the mainstream.
Crypto Wallet.
eToro now offer a multi-crypto on-chain wallet. The phased roll out will see the feature opened up country by country, and the available list of crypto currencies will also expand as time goes on.
The wallet offers high level of security, with multi-signature sign in supported – this means users can view their blockchain transactions without having to expose their private key.
The mobile app (available from Google Apps, and the Apple store) will allow the buying and selling of cryptocurrency using fiat currency.
It will also allow the conversion of one crypto or virtual currency to another. Four cryptos will be included at the launch (Bitcoin, Bitcoin cash, Ethereum and Litecoin). Others will be added as the app scales up.
Conversion will initially be limited to Platinum Account holders, but ultimately expanded to all traders.
The app is open to any registered eToro customer and makes accessing an otherwise complex market easily.
Customer Support.
Customer support is available Monday to Friday, 24 hours a day.

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