Everyone knows how many opportunities there are in the stock market. Everyone wants to take advantage of these opportunities, but not everyone is Warren Buffet. The lack of knowledge has always hindered knowledge-lacking trading enthusiasts of trading until recently when trading apps started coming around. These apps let rookie users copy the trading habits of experienced users. This shoots up their chances of trading profitably and this is where eToro app comes in.
Of these trading apps, the eToro app has proved to be outstanding. In this article, you’ll learn how the app works and how to invest with the eToro app.
What is eToro app?
eToro app is a social investment network with a lot of unique features to make trading easier and more accessible to experts and rookies alike. It is the largest social investment platform on the internet with a powerful network of over 4.5 million investors.
Investors can take advantage of the app to trade stocks and cryptocurrency on its graphics-intensive interface. While eToro started as a Forex trading platform, it has widened its scope, and now investors can trade stocks and cryptocurrency on the platform.
The eToro app has many useful features to make trading super easy, one of which is CopyTrader. The CopyTrader feature is not unique to eToro, but given the extensive experience of eToro traders, the CopyTrader experience on eToro is unmatchable.
In the following sections, you’ll learn how to start trading on eToro, as well as how to leverage all the useful features of the platform to minimize trading risks.
How to start eToro app
You can start trading on the eToro app with little to no experience in the stock market and cryptocurrency world. To start trading cryptocurrencies and other stocks on the eToro app, you must create a trading account.
How to register on eToro app
Signing up on the eToro app is one of the simplest activities on the platform. Once you possess all the required details, you can set up your account and start investing in no time.
Here are the steps required to sign up on the eToro app.
Open the eToro website (at etoro.com) and click on the green “Get Started” button that pops up on the interface.
The link redirects to eToro’s minimalist registration page. The registration page is simple to complete and requires a lot less information compared to similar trading platforms.
You’ll be required to enter a unique Username, Email, and a strong password. You can optionally sign up using any of your social accounts.
You will also be required to
i. accept the eToro terms of service and
Check these boxes and proceed with your registration if you accept these terms they are just below the password field!
You’ll be required to enter and verify your phone number for added security, after which you’ll be granted an eToro account.
While your account has been successfully created at this point, you’ll be required to complete your profile to start your first trade.
You will be asked a couple of questions to determine your trading experience. We recommend that you answer these questions honestly, as they are meant to personalize your experience and not regarded as an entry test.
Once you’ve completed your eToro registration, you will be opened up to a plethora of features offered by eToro.
In the next section, we’ll go in-depth on how these features work and how they can help you in your investment journey.
How does eToro app work?
As already stated, the eToro app has numerous features, all of which have been introduced to help you make the best out of the trading platform.
Amazing Features In eToro App
Here are some of eToro’s most outstanding features; and how you can use them for increased successes in your investment journey.
CopyTrader is one of the most popular features of eToro. This feature lets you copy the exact trading strategies of other traders on the platform.
This award-winning feature lets you view the real-time stats of other traders, as well as some historical data about them. You can automatically copy the trading behavior of top traders for fewer trading risks.
This feature is crucial for beginner traders. It is also useful for traders who are too busy to monitor the markets. This feature has been successful so far, as copiers have made a 29.1% average annual profit copying other traders on eToro.
CopyPortfolios is another unique in eToro that’s geared at maximizing profit with less effort. It is described as a way to take copy trading to the next level by diversifying investments.
CopyPortfolios is as easy as choosing a CopyPortfolios strategy of your choice and how much you’ll like to invest. Upon clicking invest, your money will copy the diverse trading strategies of the portfolio, with you only having to track the profits or losses.
While CopyPortfolios might be great, it is not risk-free, and eToro is not hiding this fact. Exceptional historical performance doesn’t guarantee future results.
Investors buying stocks via eToro will not be required to pay any commission on their trading fee, unlike other trading platforms. Additionally, eToro pays the Financial Transaction Tax for investors living in regions where the tax is required.
To start trading stocks on eToro, you’ll only have to create an account and make your deposit. You can then choose stocks of your choice from all over the world or leverage CopyTrader™. No extra fees attached.
Note that eToro requires a minimum deposit of $200 before you can start any trades, which is quite bulky, depending on who you ask.
Conclusion: eToro App Review
With all said above, it is evident that the eToro app is a compelling decision for anyone interested in trading stocks online. It remains one of the best and easy ways to invest or buy stocks online.
With features ranging from commission-free stocks to CopyTrader, eToro has established itself as an imperative platform for experienced and inexperienced traders alike.
With apps available on the Google Play Store for Android users and the App Store for iOS users, accessibility isn’t a hindrance to enjoying the numerous functionalities on eToro.
Just create an account, deposit and start trading, or copying some of the best crypto and stock traders on the planet! So i guess this answered the question “How to invest with eToro app as we also answered other questions like “what is etoro app”