eToro for Beginners

How to use eToro for Beginners?

  • eToro is one of my favorite stock trading platforms to use as it was where I started trading stocks, it's easy to use, looks great, and has the ability to trade Cryptocurrency, Stocks, Commodities, ETFs, and copy trading all on one site.

  • Now I use Colmex Pro for day trading, which has very fast trade execution which is needed for day trading. I spend more time on eToro due to the social asset of the platform. Now, it's possible to day trade on eToro but it's more suited to longer-term traders, as it doesn’t allow multiple short-term trades (holding for like 5mins) in a day which is called scalping.

  • Before we start, remember with all trading there is risk involved, make sure to do your own research before investing in stocks, etc, and, in my opinion, don't use leverage as 68% of retail investor accounts lose money on CFD trading.

  • eToro started in 2007 and has 2.14 million active funded accounts in over 100 countries. Its main flex is that you can trade nearly everything on one platform, but they also are the leader in CopyTrader, which lets you invest in popular investors' trades automatically and in real-time, without extra fees, essentially when they buy or sell stocks, you trade exactly the same, you are copying there portfolio.

  • eToro is relegated by the FCA and offers free insurance of Llyods of London, so if it was ever to go bankrupt your money will be protected. On eToro you trade in US dollars, or there is a small conversion fee for depositing with other currencies. The minimum first-time deposit is $50 in most countries but varies up to $200, and even $1000 in Israel. There is also a withdrawal fee of $5 when you want to cash out, so best to withdraw large amounts.

  • eToro also has a mobile phone App that is useful when you're on the go and easy to use, but I prefer to trade using the website.

eToro for beginners also has a practice account or demo account where you can learn to trade.