Our Review of eToro
Founded in 2007, eToro is the world’s leading social trading platform. During its inception, eToro’s founders set out to create an online trading platform that is accessible to the masses, while keeping its professional and ethical values. With over 1,000 assets across five categories (commodities, stocks, currencies, indices and ETFs), and diverse social elements, it is no wonder that tens of thousands of traders worldwide choose eToro as their trading platform.
eToro’s platform places high emphasis on usability, and has made great efforts to make its platform intuitive, and streamline the online trading process. The company offers Forex services, and trading of other assets via CFDs. The platform displays great amounts of information, both regarding its various instruments and on its users, so traders can have a lot of data to use when making their investment decisions. Since some traders need access to their accounts 24/7, eToro’s mobile app is based on the same principle of accessibility, and features an intuitive interface.
Social Trading: From Openbook to CopyTrader
When it comes to social trading, eToro is a pioneering platform, with an array of features and services that lean on the fact that it has so many clients. At first, eToro was composed of two separate platforms: Webtrader, which was a straightforward manual-trading platform and OpenBook. OpenBook, a social trading platform, was introduced back in 2010 (and has since been integrated into the platform). As both platforms were merged since, the social element has become one of eToro’s key aspects, enabling users to interact, follow one-another and copy other traders. A basic principle of the platform is giving users enough access to information, to make sure they make educated investment decisions. On top of the easy-to-understand charts, and daily financial newsletter, the social elements of the platform allows clients to learn from each other.
Following the best traders to profit
The Copy Trading feature enables clients to invest some of their funds into another trader’s portfolio. Since eToro works in full transparency, each trader’s portfolio, track record and risk score are available for other users to see, so they have all the information they need to make their decision. Copy Trading is an excellent tool for people who want to invest online, yet don’t always have the time to constantly check recent developments in the market and actively monitor their portfolio. Additionally, by following and copying other traders, users can expand their understanding of the market and get a better idea of the trading style they wish to adapt.
The Popular Investor (Guru) Program
Another feature which makes eToro unique is its Popular Investor program. When a certain investor has enough copiers on eToro, they receive Popular Investor status, and gain certain benefits and special fees. Clients have great incentive to become Popular Investors, since they receive a monthly payment from eToro, and receive a spread rebate worth up to 100%, enabling top Popular Investors to essentially trade commission-free.
eToro holds its clients to the highest regard, providing them service in 16 languages and operating 24-hour customer service, five days a week. When it comes to regulations, eToro adheres to the highest standards, operating under the approval of both the UK’s FCA and Cyprus’ CySec.
Smart investors need to understand where and how they invest, particularly when it comes to online platforms. Our review of eToro Group, ltd. works to ensure you're given the best information prior to making a first trade.