eToro Trading Platform – Review, Top Features, Set-up Process, Benefits & more
Check out all details about eTore Trading Platform here.
There are many different types of trading platforms available in the market. Thus, it can become quite challenging to choose the one that checks all the boxes and fits all your needs.
The eToro Online Trading Platform has the vision to remove barriers to trading for everyone. It aims at making trading more accessible to new users.
The platform is well known for being an innovator in the field of fintech. It provides investors with a platform that is transparent and easy to use.
This article features the different aspects of the eToro Trading Platform.
About eToro Trading Platform
eToro is one of the most popular trading platforms on the market with millions of users around the globe. It offers a wide array of innovative and unique tools and features.
On the platform, you can trade in many types of assets. You can invest in stocks, ETFs, CFDs, and cryptocurrencies across exchanges.
The platform has many features that help even the most amateur investors to get into trading.
One has the option to mimic the trades of other users or choose from ready-made strategies. Users can also practice investing through virtual cash, before getting into live markets.
It is the leading platform in terms of accessibility and ease of use.
Get Free Access to Platform – Open a Forex Account Now!
eToro Online Trading Platform – Top Features
eToro has many standout features which make it an attractive trading platform. Investors around the world have benefitted from using this platform.
It is a safe and reliable platform trusted by millions across the globe.
We’ll now look at the features of eToro and see how it can be a great tool for making your investments in the market.
Design, and Utility Tools
At its core, the eToro trading platform is a tool that is easy to use even for amateurs. It is popular for providing a smooth trading experience to users.
Its various functions and operations are intuitive and quick to use. You can easily create watchlists, search for instruments, and carry out one-click trades.
These design capabilities make eToro a platform well-suited even for beginners. The entire trading experience is seamless and enjoyable.
This feature allows you to copy the trades of experienced and professional traders.
The performance of each user is transparent and accessible. Metrics such as fail/success ratio, risk score, and many more are also available.
The platform automatically copies the trades of the selected user.
This feature is particularly useful for beginners who do not have a lot of experience in trading.
Copy Portfolios groups various traders or assets into bundles based on a predetermined strategy. Users can invest in two types of Copy Portfolios.
One includes the top-performing trader portfolios on eToro. The other is market portfolios which bundle different assets together under different strategies.
This feature helps out passive investors who want to trade on the platform. They can invest in one or more of these portfolios as part of their trading strategy.
eToro has the largest trading community in the world. The platform allows millions of users across the globe to connect and socialize.
The newsfeed feature enables users to interact with each other. one can share their ideas, views, and trading strategies.
How to Set-up eToro Trading Terminal?
The process to get started with trading on the terminal is as easy as it can get. You can use it across the web on any browser and it’s compatible with all operating systems.
- The first step is to go on eToro’s website and create an account
- The next step is to fill the online form for opening a new trading account with them.
- After submitting the necessary details, review the terms and conditions of the platform. You will have to check the relevant checkbox to show your agreement with the conditions.
- As part of the KYC process, new users have to provide Proof of Residence. You are also required to present Proof of Identity. It can be a passport or any other form of official photo ID.
- Next, you have to answer questions that will help the platform custom-tailor your experience. Questions can be about your professional status, financial liquidity, investment goals, etc.
- After following these steps, you can access the platform. You can browse the various tools and features and start placing trades.
How to Use eToro Trading Platform?
After opening your account, the platform will ask you to deposit funds so that you can start trading.
You can deposit the amount in various major currencies. It’ll get converted to USD in your account as it is the base currency of the platform.
The minimum amount for the first deposit can range from $50 to $10,000 depending on the country you reside in.
After the initial first deposit, the minimum amount for extra deposits is only $50.
After adding funds you can explore the platform to understand the different sections. You can place trades by clicking on the trade button while viewing an asset in your watchlist.
There is a prominent buy and sell button you can click on to place orders.
Advantages of eToro MetaTrader 5
Some of the many advantages of using the eToro MT5 are –
- The platform allows trade copying. It allows great flexibility and opportunities for traders.
- The platform allows you to invest in ready-made portfolios. This enables users to trade with a pre-determined strategy. It is a low-risk way to enter the markets and get some returns.
- eToro provides its users with an insurance cover of up to 1 million Euro/ GBP/AUD. The insurance provider is Lloyd’s of London, one of the leading insurance providers in the world.
- There are no brokerage charges for opening a long position on a stock or ETF.
- Users can learn about the financial markets through the eToro Trading Academy. The content is in the form of videos, articles, posts, and other resources.
eToro Trading Platform – Conclusion
Now you must be familiar with the platform and its functionalities and advantages. It’s one of the most popular trading platforms on the market for a reason.
We have highlighted its various strengths in this article.
You can consider starting your trading journey with eToro. It can be a good tool to start trading and make returns on the market.
The platform has lots of features and service offerings. It’s the perfect fit for both amateur and experienced traders.
You can explore the platform for yourself and see if it meets your needs and requirements.
We have covered a lot of information about the platform, which you can use to make your decision.
eToro Trading Platform – FAQs
Here are some of the Faqs related to eToro trading platform:
What is the eToro Trading Platform called?
eToro provides a web-based platform called the eToro trading platform. It is accessible through their website after creating an account with them.
It has a host of features and is a very powerful trading platform.
Does eToro provide Web Trading?
Yes, eToro is a web trading platform that is accessible through any browser. You can trade without going through the hassle of downloading any extra software.
It is easy and intuitive to use even for new users.
Is the eToro Trading Platform Free to use?
Yes, it is free to open an account with eToro. There are no hidden management or ticketing fees. Also, investing in stocks is commission-free.
How to download eToro Trading Terminal?
There is no need to download any software to use the eToro trading terminal. It is accessible through their website by logging in to your account.
The platform is compatible with all web browsers across all operating systems.
What features does the eToro Online Trading Platform have?
The eToro Online Trading Platform has a lot of features that make it one of the best in the market.
They include CopyTrader, CopyPortfolios, social news feed, extensive research tools, and much more.
Can I trade in Shares via the eToro Trading Platform?
Yes, Investors can buy shares and ETFs on the eToro trading platform.
When an investor opens a non-leveraged Buy position on a share there are no brokerage charges.
There is no markup, no ticket fee, no management fee, or any other hidden charges.
Is the eToro Trading Terminal good?
Yes, eToro online trading platform is one of the best trading platforms out there in the market. It’s trusted by millions of users around the globe.
It offers many unique features and functionalities. It’s a great platform even if you are a beginner or an expert in trading.
Can eToro Web Trading Platform be used without EKYC?
It is mandatory to go through the EKYC process for opening your account with eToro.
Only after furnishing the necessary proofs, you’ll get access to the eToro Web Trading Platform.
The verification process is quick and doesn’t need a lot of time or effort.
Does the eToro Trading Platform provide Tips?
Yes, the eToro platform provides a lot of resources and guidance to investors. It’s done through informational videos, posts, articles, podcasts, and other resources.
Users can also learn through the advice and guidance posted by experienced traders.
How to Buy Currencies via eToro MetaTrader 5?
You can buy currencies by going into the markets page and selecting currencies.
Choose the currency pair you wish to trade, then choose the buy or sell option depending on your wish.
You can then enter the number of units you want to trade and set the stop loss, take profit, and leverage parameters. Finally, select open trade to place your order.
Get Free Access to Platform – Open a Forex Account Now!
Most Read Articles
|Forex Trading – Know Everything|
|Forex Broker – Know Everything|
|Why Trade in Forex?|
|How to Trade Forex?|
|Forex Trading Strategies|
|Forex Trading Tips|
|Become a Successful Forex Trader|
|Best Forex App|
|Top Forex Broker|
|Best Forex Trading Books|