Social trading platforms allow you to follow successful traders, copy their trading decisions or even build your own following. Understand how eToro's platform can work for you, whether you're new to Forex trading or an experienced trader.
Social trading platforms allow you to follow successful traders, copy their trading decisions or even build your own following.
eToro (eToro.com) is one of the world's largest social trading networks, with over 5 million active traders worldwide.Trade 49 currency pairs, including Bitcoin, as well as CFDs on shares, indices and commodities.
eToro's platform is built around OpenBook, a newsfeed similar in many ways to your Facebook or Twitter newsfeed. Follow successful traders to receive their posts, updates and trading tips. If you are new to Forex and online trading, this is an opportunity to connect and learn from others.
Once you've found a trader with a strong track record, CopyTrader allows you to automatically copy their trading positions in real-time. Choose between copying all their trades (including all open positions) or just new trades. eToro will also automatically carry over any stop loss and take profit orders. From that moment onwards, your account will mirror theirs until you decide otherwise.
If you build a following, eToro (eToro.com) will reward you through its Popular Investor Program. Earn a 2% management fee across your followers' annual Assets Under Management. In addition, you're also receive a 100% spread rebate across all your trades. These amounts are in addition to the profits from your own trading activity. Crucially, all Popular Investor earnings are credited monthly and can be withdrawn.
However, following successful traders isn't without its risks as even the best can experience losses when the markets turn against them. eToro's (eToro.com) platform comes with a wealth of risk management tools that limit your exposure to loss making trades.
eToro's platform is available online at eToro.com and on mobile, through iTunes and the Google Play store. It's social trading app has over 1,000 different investment opportunities across currencies as well as CFDs on stocks, indices and commodities. Visit eToro.com to find out more.
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