Founded in January 2007, the online broker eToro has become quite a popular trading platform over the years. The original vision of the eToro founders was essential to enable investors to trade ultimately from anywhere and to promote independence from traditional financial institutions.
The CopyTrader Phenomenon at eToro
In 2009, the WebTrader trading platform was launched by eToro, which already provided investors with helpful tools for trading. In the next year, eToro launched OpenBook, which is the world’s first social trading platform. With the help of this platform, traders now can “copy” other successful investors with the “ CopyTrader “ tool and adapt their strategies. This opportunity brings a lot of appreciation and awards for them.
Since April 2011, they make the mobile version available for the platforms “WebTrader” and “OpenBook.”
Mimicking Trading Strategies
In 2013, the online broker then added shares to its portfolio, thereby enabling its customers to diversify. Three years later, “CopyPortfolios ” was launched, which bundles the portfolios and strategies of top traders and makes them accessible to all traders.
As part of the crypto hype eToro, early 2017 finally took also cryptocurrencies volumes in the range. In 2018, the online broker expanded to the United States with a US trading platform for cryptocurrencies.
Social Trading and eToro Broker
A unique feature that distinguishes eToro from other online trading platforms is social trading. The eToro platform has gained immense popularity for the social trading platform. Investors from more than 140 countries, use the online platform eToro. They also provide their know-how and experience in the social trading network of eToro. In this platform, you can find out the traders who are successful in trading. And you can also copy their strategies anytime to make most of the profit out of it.
Finding Traders to Copy
If you are looking for individual traders to follow, you can easily find them using the search function. With this search, you can also filter many different characteristics, such as by profit, risk rate, location, etc. In this way, traders can also create their individually optimal portfolio.
Social Media and Trading Community
An additional unique feature of the eToro online broker is the individually adaptable social news feed. Here social media contributions and the posts about online trading can be set so that interaction and mutual exchange with other traders of the eToro community are made possible. Apart from that, as a trader, you can also share your instruments or strategies and comment on other contributions.
Regulation of eToro and Social Trading
The headquarter of this company, which is known as eToro (Europe) Limited, is in Cyprus. This is the reason why the online broker is also regulated by the relevant financial authority from Cyprus. This is the CySEC. Another branch of eToro is also located in the UK. Accordingly, the British tax authority FCA is responsible for regulating the broker.
eToro Copy Trader Review is a well-articulated article helping investors and traders understand social trading and eToro's own concept. TradingGator gives an overview of how this works and how to find top traders to copy.
"What is the Etoro Broker?" is a question asked by thousands of traders in the world today. There are two major trading platforms that are used for large scale trading in the market, namely, the Oanda and the MetaTrader.
A trader uses both these platforms but because there are some similarities between the two, many traders opt to use the MetaTrader platform and use CopyTrader to do their trade. It seems like an easy choice at first; however, it's not all that easy to be able to use both platforms for your trading needs.
There are lots of similarities between the two platforms and the main one is the ability to access the Oanda broker. The MetaTrader software has its own interface and functions that are very similar to the Oanda software. Since the MetaTrader broker is based on the Oanda platform, it makes it very easy to use and at the same time doesn't make it difficult to access your MetaTrader account from the Etoro platform. Therefore, it's important to have both MetaTrader and Etoro accounts.
Many traders who want to start trading with both platforms have problems in choosing which one they should use. This is where the CopyTrader platform comes into play. Because CopyTrader is a dedicated platform for doing charting, it can greatly increase your chances of success.
For one, it gives you a professional-looking interface, but this doesn't mean that you should disregard what the market says and do the wrong thing to get ahead of your competitors. This is one of the biggest disadvantages of MetaTrader, which is why CopyTrader was created. By looking at how both the MetaTrader and CopyTrader programs operate, you can be sure that it will help you choose the right platform for your trading needs.
One of the major advantages of the CopyTrader platform is that it has the Chart Trade functionality, which gives you access to tools that are beneficial for charting and also for making trades. In fact, Chart Trade actually lets you customize your charts before you input them into your MetaTrader account.
Chart Trade allows you to enter your charts in two ways: directly in the MetaTrader account or by using the CopyTrader software. With the above-mentioned features, you can make sure that you are always trading with the best platform for charting and that's what CopyTrader offers.
While both Chart Trade and MetaTrader allow you to create your own charts, it is possible to get access to the underlying indicators through a third-party software application. ChartTrade does this and also allows you to view your stock prices through the MetaTrader platform, which is very important when you are trading at large volumes.
Using the MetaTrader platform, you are restricted to viewing the price information that has been plotted by the Oanda broker. Although this is the most common platform for traders, Chart Trade adds something extra, which is its feature of including market information with the price of your stocks. This allows you to see the future of your stocks.
In addition, the MetaTrader broker is known for its lack of customization. There are hundreds of fields and options that you can customize in order to enhance your charts, but it doesn't include many of the important charting features that Chart Trade offers. The exception is the ability to add and remove indicators from your charts.
The platform that CopyTrader provides is completely customized to provide traders with better results than what the MetaTrader platform can offer. It has all the important charting features that you need to trade and they can be changed according to your needs. Moreover, it has the ability to add and remove indicators from your charts as well.
Finally, the one thing that makes CopyTrader great compared to the MetaTrader platform is that it offers both the same functions but makes it much easier to trade with. If you don't want to use the MetaTrader platform, you can use the CopyTrader platform instead of MetaTrader.
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