Global trading and investment platform eToro has been praised for being easy to use, community-focused, transparent, and educational, according to various testimonials. Little wonder the site, which launched over a decade ago, now boasts nine million users.
What is so special about eToro, which has made a name for itself as go-to a cryptocurrency platform, compared to similar websites? Firstly, through educational guides – accessed via www.etoro.com – and also a virtual trading account, newcomers are able to find their feet.
“My advice to any new traders would be: definitely open an eToro demo account, open some trades, and then dip your toes in the water and start opening some real trades,” says Wayne Ryan, who goes by ‘goodgoing’ on the platform.
Mr. Ryan enjoyed a 588 percent gain on his investments in 2016 and 84 percent last year. He is one of eToro’s Popular Investors (PIs), and his investments are copied by many other traders, who make use of the innovative CopyTrader tool.
This facility, which is straightforward to use – eToro clients can view and copy anyone with a profile – is ideal for those who lack time or experience in the markets.
Mr. Ryan continues: “The main features of the website that help me specifically in trading are the live feeds and the charts. To be one of the best traders on eToro is a big achievement. I feel I have worked really hard to get to that level.”
Watch Wayne Ryan’s video testimonial
Another PI, Lena Birse – ‘Onegirl’ – who enjoyed a 36 percent gain on her eToro investments in 2017, says: “What I love about eToro is that you can see exactly what each trader is doing. I started trading on eToro because I just loved how easy it was to navigate the website. It felt like anyone could do it. I have no financial background. My main profession is being a housewife.”
Jay Edward Smith, one of the most copied PIs, who goes by the moniker ‘jaynemesis’ on eToro, believes the sense of community is unique. “I think eToro is a very different experience to using any other trading platform,” he suggests. “Most platforms are quite solitary – you don’t really interact with very many people – whereas eToro really focuses on making sure people can communicate with each other and see what each other are doing and check each other’s profiles.”
Watch Jay Edward Smith’s video testimonial now
Mr. Smith yielded a 340 percent return last year. Emphasising the eToro CopyTrader tool, he adds: “A lot of my friends are the kind of people who work in a warehouse and have no idea how markets work. That doesn’t matter on eToro, because you can just find someone else who does.”
Pros and cons of trading on eToro
Pros
– Straightforward, user-friendly, trustworthy and experienced platform
– Instant execution of trades, thereby locking in a price
– Ability to use CopyTrader and other innovative tools
– Huge cryptocurrency community that shares knowledge and helps each other
– Fast execution
– Regulated company
Cons
– Only nine cryptocurrencies offered by the platform, currently
– Users are unable to withdraw the cryptocurrencies directly
– Users’ cryptocurrencies are held by eToro
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All trading involves risk. Only risk capital you’re prepared to lose. Past performance is not an indication of future results.