eToro Review for Beginners in the UK
Is eToro any good for beginners in the UK?
eToro is a popular stock broker with over 20 million users in 100 countries including the United Kingdom, which is fully regulated and secure and also offers insurance of up to 1 million from Lloyds of London.
eToro is an all-in-one trading platform where you can buy stocks, commodities, currencies, ETFs, and cryptocurrencies and also has the option of copy trading.
eToro offers an easy to use commission-free stock trading platform that is suited to beginners, with seamless account set-up and a social media-type feed for trading
eToro UK Review at a Glance
How to set-up an eToro account in the UK?
Sign up with all required personal details such as name and email address.
Verify your eToro account with Proof of Identity such as your passport, Also verify proof of address by uploading a copy of a recent bank statement, etc.
Make a first-time deposit, The minimum amount starts at $50 in the UK, but after the first deposit, it's only $10.
Start trading and buying stocks.
How to buy stocks on eToro UK for beginners?
Select your investment amount, remember to start with disposable income, or even start with the virtual money account that eToro UK offers.
Buy stocks that are high-capital and that you are familiar with or use their products such as Apple, Colgate Amazon, etc.
Buy at least 5 stocks in different business categories to diversify and for risk management.
Remember to buy stocks when they're down and sell when they rise, always research stocks before buying.
How to buy stocks on eToro UK using Finviz?
My stock trading strategy and watchlists.
Go to Finviz stock screener and search for high-capital stocks that are oversold and below the RSI line of 30.
Research that the stock has an analyst rating of buy and the current price is near the lowest analyst expectation for the next 12 months.
Research the stock news on Google to make the reason why the stock dropped in price is short-term and then I buy the stock.
eToro Copy Trading UK
What is eToro Copy Trading UK?
eToro copy trading UK enables you to copy popular experience eToro traders by replicating everything they do on their account, when they buy and sell stocks your selected investment amount copies the trades automatically.
Essentially you can have other people trade on your behalf. It doesn't cost anything extra but you will pay the normal spread fees when you buy and sell stocks.
Before you copy a popular investor you can view all their past trading activities and gains, their risk score, and their profile to learn about their trading strategy. The minimum investment to get started in the United Kingdom is $200.
Reviews of some of the popular investors you can copy on eToro UK
Rubymza is a solid long-term investor that uses fundamental and machine learning to research stocks, she focuses on a diverse portfolio to lower risk while offering great returns. Rubymza is originally from South Africa but lives in the U.K. and has an MBA degree in machine learning. She recommends you copy open trades with at least $1000 for 3 years plus.
Campervans is a long-term trader specializing in stocks and ETFs, he is a private banker from the U.K but lives in the United Arab Emirates that has managed the wealth of some of the Forbes top ten rich list. He uses a core and satellite strategy and invests in forward-thinking and growth stocks. He recommends copying open trades with at least $500.
eToro Day Trading UK
eToro Day trading in the UK is the process of buying and selling a stock within one day. It is one of my favorite ways to trade as it can be very lucrative but can have challenges for newbies and takes time to master before you perfect and practice your strategy.
How to Day Trade on eToro in the UK?
My main day trading strategy using earning reports. One trade a day.
My second-day trading tutorial and strategy is what I use when there are no premarket earning reports, instead, I use a positive catalyst which is good news for a company and I use support and resistance points to find an entry point to buy the stock when the stock market opens. I look at the patterns and price changes to determine when to sell and look for at least up to 3% profit.
eToro Review UK FAQs
Is eToro safe to buy stocks in the UK?
Yes, eToro is where I bought my first stocks and learned how to trade, I would recommend it to family and friends. It is fully regulated by the FCA in the UK, CySEC in Cyprus, and ASIC in Australia which is very important, also They offer free insurance from Lloyd’s of London which gives coverage of up to 1 million.
Who to copy on eToro UK?
First of all, I would recommend you copy at least two to five popular investors on eToro to diversify and spread the risk. (Even better to copy multiple investors with different trading strategies and stocks).
Recommended Trading Platforms in the UK
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.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC does not offer CFDs and neither does it represent or assume any responsibility for the accuracy or completeness of the content of this publication, prepared by What is Bitcoin, as a partner, using information available and public and not specific to the eToro entity