What is eToro?
By Space Coast Daily // April 26, 2021
Founded in 2007, eToro is a social trading platform that focuses predominantly on connecting their investors to financial and copy trading.
With registered offices in Cypress, they are a multi-asset brokering company that focuses primarily on financial services, online social investments and cyptocurrency exchange.
Since its inception, eToro has grown exponentially and in 2018, they were worth a whooping US $800 million boasting over 17 million active investors.
This behemoth has done astoundingly well in the social trading market and most of their investors are happy with their products and services.
Let’s analyze this company further and see if this social trading platform is right for you.
eToro’s main goal was to create a platform that gives access to investors all around the world while reducing societies dependence on traditional financing institutions.
Let’s take a look at some exciting features they offer their investors:
Easy Navigational Systems
eToro offers their investors easy to use, intuitive and innovate user interfaces.
They have incorporated WebTrader’s trading capabilities with OpenBook’s social trading features which creates a positive user experience for both the beginner and experienced investor.
These are services based on machine learning that aim to generate maximum revenue for potential investors.
This is their social trading strategy where eToro allows investors to implement successful trading styles to get the best return on their investment.
eToro facilitates trading of popular cryptocurrencies which includes; Ethereum, XRP, Litecoin, and other frequently used cryptocurrencies on the market.
0% Commission on Stocks
As a brokering service, eToro offers their investors 0% commission stocks.
This means that there are no broker fees charged to the investor when they open or close a position. However, this does not apply to short or leverages positions.
Things You Should Know About
There’s no doubt about it, eToro is a great social trading platform regardless of where you are on your investment journey.
That being said, eToro sent out a disclaimer acknowledging that CFDs are complex derivatives where investors run the risk of losing money rapidly. According to the company, 67% of retail investors lose money when trading with CFDs.
As a precaution, make sure you have a good understanding of how CDFs work before investing your money. Even if you do have a good understanding of it, make sure you can afford to lose the money you’ve invested.
Octavian from TrustPilot says:
“I am really happy with the transparency and ease of use of the platform. The support and staff are very helpful and responsive!”
Anojan from sitejabber claims:
“Extremely glitch system and closes trades automatically when they are in the red. I’ve lost $400 in one week due to this.
eToro has a lot of great reviews with some bad apples mixed in.
Most investors consider this to be a safe platform owing heavily to the fact that they are heavily regulated by top-tier financial authorities. It’s also garnered trust from investors due to its longevity and quality of their brand.