eToro

Site Overview

So to approach the most obvious and important question of all, what exactly is it about eToro that makes it any different from any other trading platform? Well, the simple answer is that eToro focuses on social trading, rather than individual trading. Not that this means you have to team up with other people when it comes to your own investment decisions – it’s simply a case of tapping into an absolutely enormous wealth of information and advice.

In the simplest of terms, social trading with eToro is all about people. As already mentioned, there are somewhere in the region of 4.5 million of them currently doing business with the platform. The whole idea being that rather than having to extensively research the massive asset library and what’s going on with markets globally, you can simply use the platform’s primary ‘copy’ feature. Which delivers exactly what it promises. You access the ‘People’ menu from the top of the page, you find yourself presented with a gigantic database of traders working with eToro and you are then free to browse through them and decide exactly who you want to copy the actions of.

But what’s really great is the way in which it is possible to instantly filter these millions of traders, in accordance with your own personal preferences. If you are on the lookout for a commodities expert to follow, no problem. If you would prefer someone based in the United Kingdom, consider it done. If they need to have made at least 10 per cent profit within the last six months, you’ll find them in seconds. Upon selecting a trader, will be presented with plenty more information and analysis with regard to their performance, prior to being taken over to the wonderfully simple ‘Copy’ interface. From here, all you need to do is decide exactly how much you want to invest and set the trades in motion. On the whole, there really is no simpler or more enjoyable platform on the web when it comes to emulating the actions and decisions of traders at all levels.

But what’s also simply fantastic about eToro is the way in which the traders that are copied by other traders earn extra commissions from the company, based on how many people follow them and copy their actions. As such, if you are a veteran and would prefer to go your own way without copying others – which is perfectly possible – you can make even more money on top of your successful trades. On top of all this, there is a simply outstanding downloadable mobile application available for iOS and Android devices alike, which provides traders with access to each and every feature and functionality of the primary website. So no matter where you are, you can dive into the action without hesitation.

Last but not least, eToro scores extremely high marks when it comes to additional features and benefits, which include an outstanding news feed, an extensive learning area and candlestick charting via each asset screen. The only downsides we’ve come across in terms of consumer complaints involve occasional delays on withdrawals, along with disgruntled traders moaning that upon deciding to copy successful traders, said successful traders suddenly hit downward spirals.

Suffice to say though, this isn’t exactly something you can fairly lay at the door of eToro!

Best Features
If you are yet to try your luck with social trading, this is in its own right the single best feature at eToro. Being able to emulate the actions of millions of other traders brings an entirely new dynamic to the whole experience. This isn’t by any means the only social trading platform available – it’s just that eToro happens to be one of the best by far.

Conclusion
Simply repeating as stated above, social trading is something you should definitely try out if you haven’t yet experienced it. And if you do happen to be a fan of social trading, it’s unlikely that you will find a platform anywhere that comes close to rivalling eToro. It may be a concept that appears somewhat difficult to get to grips with in the first place, but eToro does an absolutely fantastic job of making it child’s play.