Before we start please note! CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.’]77% of retail CFD accounts lose money.
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“Start Trading Now”
[button text=”Visit eToro Now” link=”https://www.investingstockonline.com/visit-etoro” target=”_blank” bg_color=”#FACD48″ bg_color_hvr=”#FACD48″ border_radius=”” border_width=”” border_color=”” border_color_hvr=”” icon=”arrow-circle-o-right” font_color=”#ffffff” font_color_hvr=”” size=”large” align=”center” btn_width=”normal” inline=”no” margin=””][/button]77% of retail CFD accounts lose money. [/column]Contents
Platform overview Etoro
In a world where currency trading forums crop up every day, eToro has consistently stood head and shoulders above the rest of the pack.
The platform today prides itself in being one of the biggest fintech giants around and has revolutionized the way people see forex and commodity trading.
Somewhere along the way, the company added cryptocurrency to its portfolio, which led to an influx of savvy users from all over the world.
At the moment, the company has millions registered users and is constantly exploring avenues of growth. In this piece, we are going to take an in-depth look at eToro and what it actually does for the customer.
There regulatory bodies :
[icon name=”check-circle” class=”” unprefixed_class=””] eToro (Europe) Ltd., a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10. [icon name=”check-circle” class=”” unprefixed_class=””] eToro (UK) Ltd, a Financial Services Company authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263. [icon name=”check-circle” class=”” unprefixed_class=””] eToro AUS Capital Pty Ltd. is authorised by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139. )History of Etoro
A lot of people out there can only remember eToro from the context of cryptocurrency trading.
However, it is important to remember that this company was here long cryptocurrency made headways into the mainstream. The first cryptocurrency, bitcoin, only came into existence in 2009 and by then, eToro had been around for a couple of years.
The beginnings of eToro can be traced back to 2007 when a trio of entrepreneurs came together to form a trading platform. The goal was to establish a simple online marketplace that could be used by any trader, regardless of their location and ability to use trading instruments.
In addition, these entrepreneurs felt that there was a need to establish a trading forum that could stand on its own and reduce people’s dependency on traditional financial instruments such as banks.
See, for a long time, libertarian thinkers have always believed that economies can only thrive if they are independent of government control, and this is the kind of concept the pioneers of eToro seem to have had in mind.
At the beginning, eToro was pretty simple. It showcased an interactive website that allowed for easy navigation. It also featured plenty of graphs that traders could use to predict market patterns and speculate on the prices of the various products they were looking to benefit from.
Apart from that, the site also provided a number of important tools to make trading easier.
When 2009 came around, eToro was ready to make a number of changes, and this is when they launched Web Trader, the trading platform that enabled traders of all kinds to access tools at their specific skill levels.
Post-2010 By 2011, eToro was ready to take the world by storm, and it did precisely that, debuting the first social trading forum in the world, the aptly named OpenBook.
This was the perfect way to respond to the rapid proliferation of social spaces such as Facebook and Instagram, only that as a fintech startup, eToro needed to have a social platform that served traders and brokers.
Indicative prices; current market price is shown on the eToro trading platform. Past performance is not an indication of future results. The trading history presented is less than 5 years old and may not suffice as a basis for investment decisions. This post is not investment advice.
As early 2012, eToro only offered tradition opportunities in currencies and commodities, but this would soon change with the addition of stocks as investment vehicles.
2013 was a pivotal year for eToro for two reasons. First, it launched a mobile app version of the platform that could be used by both Android and iPhone users.
This allowed the startup to tap into a deep well of smartphone-savvy customers who wanted to carry their marketplace’ around with them. As a strategy, this proved resoundingly insightful for eToro as it instantly increased the level of activity on the platform.
In the same year, eToro decided to delve into cryptocurrency, just around the time the bitcoin craze was gripping the world. Traders could now trade in Bitcoin by means of Contracts for Difference (CFDs). Come 2015, eToro was ready to ring the changes again.
The existing interface was updated once more, giving traders hitherto unparalleled visuals as well as an overall improved intuitive experience. 2016 was marked by the establishment of CopyFunds, which are professionally managed portfolios that divide traders or assets into related classes.
Al these changes invited unprecedented scrutiny, but eToro was ready to match that scrutiny with finesse. At the same time, the company had to accommodate a burgeoning user base as its access swelled to over 100 countries in the world. At the beginning of 2017, eToro decided to provide a functionality for users to trade a number of cryptocurrencies within the platform. This was a huge step because now, crypto enthusiasts could leverage their knowledge.
Today, eToro is wildly popular in the trading space, attracting millions of users from 170 countries around the world.
Who is NOT allowed to register and use an account on eToro?
As indicated earlier, eToro is available in 170 countries around the world. Users from those countries can come and go as they please. However, the company keeps a list of countries whose residents are not allowed access due to conflicting trading laws and regulation policies.
As of today, that list includes;
[column md=”6″] [icon name=”minus-circle” class=”” unprefixed_class=””] Iran [icon name=”minus-circle” class=”” unprefixed_class=””] Cuba [icon name=”minus-circle” class=”” unprefixed_class=””] Sudan [icon name=”minus-circle” class=”” unprefixed_class=””] Syria [icon name=”minus-circle” class=”” unprefixed_class=””] Serbia [icon name=”minus-circle” class=”” unprefixed_class=””] Albania[/column] [column md=”6″] [icon name=”minus-circle” class=”” unprefixed_class=””] Canada [icon name=”minus-circle” class=”” unprefixed_class=””] Japan [icon name=”minus-circle” class=”” unprefixed_class=””] Brazil [icon name=”minus-circle” class=”” unprefixed_class=””] Turkey [icon name=”minus-circle” class=”” unprefixed_class=””] North-Korea[/column] [column md=”4″]“Experience Real Social Trading”
[button text=”Visit eToro Now” link=”https://www.investingstockonline.com/visit-etoro” target=”_blank” bg_color=”#FACD48″ bg_color_hvr=”#FACD48″ border_radius=”” border_width=”” border_color=”” border_color_hvr=”” icon=”arrow-circle-o-right” font_color=”#ffffff” font_color_hvr=”” size=”large” align=”center” btn_width=”normal” inline=”no” margin=””][/button]77% of retail CFD accounts lose money. [/column]A trading account on eToro
To register an eToro account, you only need to follow prompts that require the use of your email, Google Plus or Facebook accounts. After setting up an account, you are immediately granted access to a number of account features.
You are also allowed to transfer money to the tune of $2000. For these caps to be lifted, you have to go through the customer identification process.
The customer identification process is rather simple.
The menu is easy to understand and the prompts are to the point.
You will be required to provide a copy of your national identity card if you are from a country that issues IDs.
You can also submit your passport.
After those documents have been scanned, you are also required to provide proof of residence.
Here, you only need to submit a copy of a recent utility bill.
Your address should be clearly listed in that bill, and there must be no contradictory information in there.
Once all your documents have been accepted, you can simply go ahead and deposit as much as you want.
If eToro presents an uncharted territory to you, then you need not to worry, because there are demo account options that allow you to cut your teeth.
Product and service portfolios on eToro
1. Stocks
At the moment, you will only be able to access a limited amount of stocks from some of the top European and US markets.
Below is an updated list of exchanges from where you can buy stocks on eToro;
[column md=”6″][icon name=”check-circle” class=”” unprefixed_class=””] NYSE [icon name=”check-circle” class=”” unprefixed_class=””] NASDAQ [icon name=”check-circle” class=”” unprefixed_class=””] Frankfurt [icon name=”check-circle” class=”” unprefixed_class=””] Paris[/column] [column md=”6″][icon name=”check-circle” class=”” unprefixed_class=””] Madrid [icon name=”check-circle” class=”” unprefixed_class=””] Milan [icon name=”check-circle” class=”” unprefixed_class=””] Zurich [icon name=”check-circle” class=”” unprefixed_class=””] London[/column]2. CFDs
eToro grants you access to trading options on more than 1,000 CFDs. This is not an exactly astronomical number, but it is a good average, considering what is offered by others out there.
3. ETFs
There are 83 ETF options on eToro. They have been laid out in tiles, so you can take a look at what you want to trade in. Some of the ETF tiles provide additional information on each product type.
4. Indices
This is a collection of the largest indices on the stock market as well as the Dollar Index. There are 13 items in this product group.
5. Currencies
This is one of the more visited areas on the eToro platform. FX on eToro is carried out by the use of CFDS. There are 47 currency pairs in total.
6. Commodities
The commodities section provides you with options such as copper, gold, silver, oil, Natgaz, platinum.
7. Cryptocurrencies
As indicated earlier, eToro was one of the very first CFD brokers out there to start allowing trade in crypto with CFD coverage. also, real crypto assets have been added to the platform lately. You can trade in;
Bitcoin, Bitcoin CashBitcoin, Ethereum, Ethereum Classic, Ripple, Litecoin,Dash, Stellar,EOS, NEO, Mitota,ZCACH and Binance Coin. Funding Depositing money on eToro is easy. Bank transfers, Yandex, Neteller, Visa, Mastercard, wire transfers, WebMoney UK and Skrill are just some of the options available to traders.
Different approaches will have different conditions and limits, so you will need to look out for that. Withdrawing money, on the other hand, is a little more hectic as you have to fill out a form and wait for a little while. The most popular withdrawal methods are credit/debit card or bank transfers.
1. Great software and trading tools
The eToro trading software is an industry gold standard and comes with an array of features that make placing trades easy. Additionally, the analytical graphics put out by the site tilt the scale towards accuracy, giving traders a level of confidence.
2. Diversification
eToro allows you to have a whole lot of products in your portfolio, and that is always a good thing. You get the chance to diversify your investments, which helps spread risk. There are also a lot of markets for the savvy trader to sample.
3. Simple, intuitive interface
The eToro platform is very easy to navigate and understand. This comes in handy for those who might not be computer savvy as well as veteran traders. Everyone gets to save time and execute trades in a direct manner.
4. A variety of deposit and withdrawal options
eToro provides you with a number of options, allowing you to choose an approach that works for. You should, however, take time to understand the terms applicable to each of the approaches available.
5. Adequate customer support
eToro has a vibrant and professional customer support system, with agents available (via phone, live chat, support tickers) 24 hours a day, 6 days a week. This comes in handy if traders are a stuck or seeking clarification on various aspects of their trade.
[column md=”4″]“Open Free Trading Account”
[button text=”Visit eToro Now” link=”https://www.investingstockonline.com/visit-etoro” target=”_blank” bg_color=”#FACD48″ bg_color_hvr=”#FACD48″ border_radius=”” border_width=”” border_color=”” border_color_hvr=”” icon=”arrow-circle-o-right” font_color=”#ffffff” font_color_hvr=”” size=”large” align=”center” btn_width=”normal” inline=”no” margin=””][/button]77% of retail CFD accounts lose money. [/column]eToro downsides Limited options for cryptocurrency traders
While the website does offer a handful of cryptocurrency options for trade, the list is barely enough. At the moment, there are hundreds of credible cryptocurrencies out there, and many traders would relish the opportunity to own extended crypto portfolios.
Lack of access in some countries
While eToro has made sustained efforts to ensure a presence in a large number of countries around the world, access is still lacking in some of the world’s biggest cryptocurrency and stock markets, one of the most notable ones being the US.
FAQs
Q. Who started eToro?
Brothers Ronnen and Yoni Assia and a friend, David Ring.
Q. How many traders are there on eToro?
Current estimates point to existence of the millions.
Q. Where is eToro based?
The company has a world office and operates all over the world, including UK and Cyprus
Q. Why is eToro not available in the US?
Due to jurisdictional, legal and policy restrictions.
Q. How much do trades cost on eToro?
There are no commissions on the platform but you will be required to pay overnight fees, withdrawal fees, and conversion fees. You will need to know the kind of fee your specific products attract. There are no charges for creating accounts or however their can be fees deposits on the website.
Q. What is the minimum deposit on eToro?
the minimum trade size is based on exposure (leverage x invested amount) for customers who registered on or after 2 April 2017: Currencies: $4,000 Stock and ETFs: $ 500 Cryptocurrencies: $ 200 Commodities and Indices: $ 2,000
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“Highly recommended for eToro”
[button text=”Visit eToro Now” link=”https://www.investingstockonline.com/visit-etoro” target=”_blank” bg_color=”#FACD48″ bg_color_hvr=”#FACD48″ border_radius=”” border_width=”” border_color=”” border_color_hvr=”” icon=”arrow-circle-o-right” font_color=”#ffffff” font_color_hvr=”” size=”large” align=”center” btn_width=”normal” inline=”no” margin=””][/button]77% of retail CFD accounts lose money. [/column]Q. How long does it take for eToro to process withdrawals?
eToro proceeds withdraw within a day ( if the account is compliant and money available).
Then it can take up to 5 business day to reach the method of payment.
During that time, you can still move the money back into your trading account and keep using it.
Over the last one decade, eToro has consistently tried to revolutionize the fintech sector, and that effort has been a resounding success.
The good news is that you can still join the millions of traders active on the site right now.
The sign-up process is quite straightforward and takes only a matter of minutes.
Sign up now and obtain access to thousands of assets from various marketplaces around the world! eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Cryptoassets are highly volatile unregulated investment product. No EU investor protection.
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