How to Start Trading on eToro and Make Money?
What is eToro?
Launched in 2007, eToro is a pioneering online, multi-asset, and social trading platform. It lets users trade anything from currencies, stocks, indexes, and commodities to cryptocurrencies via its mobile and web-based platform. With registered offices in Israel, Cyprus, the United Kingdom, and China, eToro offers both social trading and manual trading features. The eToro platform also lets traders copy the trading strategies of successful traders already on the site. Whether you are a newbie without experience or a seasoned trader, eToro offers the ideal platform for you to start trading.
How to Create an Account on eToro?
Creating an account on eToro is quite an easy and straightforward process. Signing up for an eToro account is completely free and won’t take a lot of time. Just follow the steps mentioned below to open an account:
- Head to www.eToro.com and click the “Trade Now” or “Join Now” button.
- Once you click that, you will be asked to complete an application form. You will need to create your username, a preferred password, and an email address along with your contact number.
- The platform also offers additional options for logging in using Gmail or Facebook.
- Ensure to read all the Terms and Conditions before you proceed.
- Click the sign-up button to submit your information.
Different Trading Options of eToro
You can trade hundreds of financial assets on eToro across various categories. Every asset class on eToro comes with its categories. So, let’s have a look at what are the different trading options of eToro:
- Stocks: eToro lets you trade easily in the dynamic stock market. Whether you are looking for a short term or a long term investment in the stock market, you can invest in it on the eToro platform.
- Cryptoassets: eToro offers many different options for people looking to invest and trade in the cryptocurrency market. eToro also has an exclusive CryptoPortfolio investment strategy.
- Commodities: You also get a chance to trade various commodities like oil, natural gas, and precious metals like platinum and gold on the eToro platform.
- ETFs: eToro lets you invest in ETFs as well that are geared towards low risks and aimed to offer a steady profit over time.
- Currencies: Trade currencies on eToro as CFDs only. With eToro, it is simple to invest and trade in the largest foreign currencies exchange market of the world.
- Indices: Trading indices on eToro is simple and quick. Indices tend to be more stable as compared to individual stocks. Moreover, with eToro, trading Indices can be quite beneficial.
Key Points That Needs to Be Considered for Investing in eToro
If you are planning to start investing using the eToro platform, then you need to consider the following key points to make your trades successful:
- For those who don’t have sufficient experience in trading, eToro offers social trading. Newbies can copy the trades of seasoned traders using this feature.
- eToro has both a web-based and mobile platform for the traders to trade.
- eToro is an authorized platform with CySEC and is also compliant with ESMA rules.
- eToro has a low trading fee, making it an ideal platform to trade.
- The platform has an option for both a demo account and a live account.