Do you want to enter the world of online trading? In order to be able to trade, it is important to choose the right broker or online broker. eToro is one of the world leaders. How does eToro work? What offers does the broker offer? What are the fees charged by eToro? The following lines will give you some answers.
Presentation of the eToro platform
The eToro online platform was launched in 2007 in Tel Aviv. Since then, it has positioned itself as one of the leaders in the field of social investment and trading. eToro is best known for its marketing policy which offers commission-free investing in stocks and ETFs. It is, therefore, one of the first choices of traders looking for a forex broker or ETF broker. eToro’s head office is in Cyprus.
It should be noted that the platform is considered to be one of the safest. Indeed, it is authorized by the ACPR (Prudential Control and Resolution Authority) and by the AMF (Financial Markets Authority). In all, the best trading platform registers several million users spread over a hundred countries. It also offers nearly 800 financial products. It gives traders the opportunity to diversify their investment.
The eToro platform has the advantage of being easy to use. It is suitable for both professionals and beginners in the field. eToro is directly accessible on the internet and no download is necessary. This trading platform offers a simple, uncluttered, easy-to-use design and offers the possibility of using graphic indicators. For investors traveling, the mobile application allows access to their account from anywhere.
To open an eToro account, there are a few steps to follow. First, you will have to complete your profile. You must then provide some information (surname, first name, telephone number, etc.) and answer a few questions. Once you have completed the profile, you must also submit an identity document and proof of address.
Afterwards, you will have to deposit funds to be able to trade. On eToro, the first deposit must be at least 200 euros. After this first deposit, you will be able to deposit the sums you wish to invest. It should be noted that deposits to your eToro account are free. On the other hand, each withdrawal costs 5 dollars. Whether for deposits or withdrawals, you will have the choice between several means: bank transfer, credit card, PayPal and Skrill.
What is Social Trading?
eToro is one of the leaders in the field of social trading. In 2010, the platform offered a social network that is completely dedicated to trading. It is then possible to interact and share with knowledge and other traders. But not only ! Indeed, it is also possible to copy the other members of the community.
On eToro, you will find investors (Popular Investors) who publish their trading strategies. Other members of the community can then follow the advice, take advantage of the different analysis and copy the strategies. The concept is known as “Copy Trading”. This gives traders the opportunity to invest actively.
What are the brokerage fees applied by eToro?
The platform is known as a broker for investing in the markets with 0% commission on shares. However, the latter must be invested in a long position and without leverage. In other words, you won’t have to pay brokerage fees when you open or close a position. This means, at the same time, that there are no rolling costs, no matter how long you keep them.
For other assets, trading goes through CFDs. 2 types of fees can then be applied. First, there are “day-to-day” costs. These correspond to the duration of the position. In a second step, spreads can also be applied. This is the difference between the buy price and the sell price. It should be noted that the platform offers a wide choice of instruments on which you can invest. On eToro, it is possible to trade stocks, crypto-currencies, commodities, indices, ETF trackers, indices, currencies…
This article is sponsored.