Exchange Reviewed: Trading Cryptocurrencies On eToro
eToro is a global social investment market for individuals who are concerned for trading currencies, CFD stocks, commodities, and indices online. The main objective is to provide experienced and new investors the opportunity to benefit from the combined potential of their wide-ranging trading community in an intuitive and simple manner. It not only allows eToro consumers to perform trades themselves, but it also allows them to learn, copy the trades automatically, and interact. These trades will be copied in your account in real-time, which allows you to create a people-based portfolio.
eToro App and Web-Based Platform
eToro was founded in 2007 and it accomplishes more than 4.6 million clients in more than 170 nations until November 2015. eToro web-based platform was launched in 2008 and the OpenBook social investment network was launched in 2010. In 2011, eToro made Mobile trader application available on iPhone, Blackberry, and Android devices. eToro launched its new platform in November 2015 which is capable of combining OpenBook and Web Trader into the same interface and works smooth across all devices.
eToro Unlimited Demo Account
To begin, eToro offers an unlimited free demo account with all the same features as their real-money accounts. To fund Real-money accounts with eToro there are a number of ways to follow such as (credit card, western union, MoneyBookers, PayPal, bank wire) which can be managed in $USD. There are many funding incentives available. Which depends on the amount you first deposit which can lead you to a $10,000 bonus sometimes. The minimum deposit is $200 for all countries since February 2016.
Find Copy Traders and Control Your Risk Level
eToro provides a wide range of reliable trading features such as pre-set leverage settings which help the investor to calculate the risk easily. When you copy traders it restricts you to allocate a maximum 20% of your total capital per trader. Hence it protects your equity by restricting your exposure. eToro launched a “GuruFinder” feature in 2012, which helps you to find the people you want to follow. This feature allows you to filter the available traders to copy that is based on regulations such as their winning ratio, average exposure, and risk level.
Trading Bitcoin on eToro
If you want to sell or buy Bitcoin, you need an exchange broker and there are two ways of doing this:
- The cryptocurrency exchanges allow you to sell and buy real coins. For example, if you buy few Bitcoin, it means you own it.
- There are many brokers that won’t allow you to buy Bitcoin directly. Instead, they will ask you to invest it via contract for difference (CFD), which in other words means you are not buying the coin itself.
eToro is a mix-up of these two, it always allows you to directly buy Bitcoin (not through CFD). But it also supports a great user interface for things such as opening and closing orders. It is also important to understand that there are so many hidden risks which an investor should be aware of.
eToro is an exceptional way to capitalize, and leveraging the idea of social trading. Which uses feelings and idea generation from both business experts and everyday individuals to gain insights into the markets. Features such as the ability to trade on a demo account, and the option to follow/copy other popular traders are very useful.