Investing and trading are now easy because of the online trading platforms. Making profits is right at your fingertips. Numerous trading platforms are on the run to attract investors by providing lucrative features. It is plausible for investors to be in a dilemma about which platform to choose.

eToro has been the most popular social trading platform since 2006. Thru this platform, users can trade anything and everything. Let’s dive into details about what etoro is all about.

What makes eToro so popular?

eToro is different from other trading platforms in terms of several features. These are:

• Social Trading:

eToro introduced an entirely different concept in the world of trading. The development of ‘social trading’ attracted many eyes to this platform. In short, eToro is social media for trading purposes. Here, users get their profile. They can share regular updates and interact with others who share the same passion for trading.

• CopyTrade:

Copy Trading, as the name suggests, is simply the method of copying trades from other successful investors. You can copy anyone on eToro. However, when you are copying a trader on eToro, you allocate a part of your funds for that.

If you are a new investor, make use of your eToro virtual account before using real money. Once you are investing actual cash, the return on investment will depend on a lot of factors. Make sure you do some research on the investor that you are copying. You can take note of their success rate in the past year. It will give you a rough idea about who to shortlist on your CopyTrade list.

• CopyPortfolio:

CopyPortfolio is a premium feature on eToro that will revolutionise your trading experience on this platform. There are three different types of portfolios on eToro’s platform as of now. With these portfolios, you can invest in multiple trades at once and not just a single one. Once you invest the money, everything is managed by eToro’s professional investment team. These features help minimise long-term risk and promote growth opportunities.

How to sign up on eToro?

eToro has the simplest signing up process. You can set up your accounts within a matter of minutes.

Here’s a step-by-step method on how to sign up.

#1: Visit eToro’s official website and click on the ‘Join Now’ key. It is the first stage of your application procedure.

#2: Fill in all the details about you. Make sure you provide accurate information as this info is used for further verification. Any discrepancy might create issues.

#3: After filling in your details, you have to add the deposit to your account. eToro accepts a variety of payment methods-Visa, Maestro, PayPal, and many more.

#4: Next, you will be redirected to the verification procedure.

After all these steps, once your identification and funding are complete, you can start trading.

Pros of Being an Investor on eToro at a Glance

• More than 2000 kind of tradable assets

• Numerous payment methods available

• Insightful educational offerings

• CopyTrade and Copy Portfolios advantage

• Zero percent commission

• Access to 10+ cryptocurrencies

If you want to know more about the advantages of being an Investor on eToro, make sure to go thru Brokerage Compare’s etoro review.

Conclusion

There are several platforms where you can start investing online. eToro is a great platform if you are starting your journey as an investor. You can use the virtual profile, at first, to get acquainted with all the features that it offers.

The social trading feature unlocks numerous possibilities for newbie investors to learn from seasoned investors and employ strategies that will skyrocket their income.