Social Trading with eToro CopyTrader

There is plenty of talk about the etoro broker at the CopyTrader social trading platform. Its trading platform is based on the popular MetaTrader4 platform and has some of the same features. However, there are also some major differences.

Copy Successful Traders

The main difference between the metro broker and MetaTrader is that the etoro platform can be more easily configured than MetaTrader’s. For example, if you want to add or remove an item from your portfolio, MetaTrader will need you to change the code yourself. Etoro allows you to copy, paste and just adjust the code you need.

One reason why so many traders like the etoro platform is because of the support it provides for inventories. In fact, many people who use the etoro platform find that it is more accurate than MetaTrader. This is because they don’t have to manually add and remove items from their inventories, which helps them to remain on the right side of the MetaTrader rules for inventories.

An Easy-to-Use Mirror Trading Platform

Traders tend to like etoro’s CopyTrader platform because it is simpler to use. If you’ve been trading with CopyTrader, it’s easy to forget that it’s awesome to just lean back and mirror the best traders on the copy trading platform.

Unlike MetaTrader, however, the etoro platform does not allow you to have a list of your favorite stocks to pull up at your fingertips. It also doesn’t allow you to have a list of all the different currencies that you may trade.

There are also similarities between the two platforms, however. Like MetaTrader, it provides alerts, which are ways to notify you when a particular trade was executed.

As with most brokers, the etoro platform does not provide you with a trading platform like MetaTrader does. It does provide a way to manage your accounts, however. There is also an auto play feature, which means that you don’t have to touch the platform to watch for profitable trades.

Trading Signals with CopyTrader

The best part about the etoro CopyTrader platform is that it offers real-time trading signals from the best traders on the social trading network. This is important, because many traders find that trading is more difficult than they thought. With real-time trading signals, the platform will let you know about trending prices, which can help you decide when to make a trade and where to avoid it.

Another feature the etoro platform offers is the MetaSignal ETP which alerts you to trends and news events. Traders have also been impressed by the ability to add leverage to the platform, which means that you can do more than one trade per order. Traders say that this feature can be particularly useful for busy traders.

As with many brokers, the etoro platform offers a lot of tools for traders. These include the MetaTrader API, which provides support for your MetaTrader accounts. The platform also supports various workflows, which are ways to organize your trades into different processes.

Another thing the etoro platform offers is the MetaTrader TradePlan. It includes features like a swing plan, which allows you to set up different swing scenarios. You can also get a forecast about how your specific market will trade, which makes it easier to trade smart.

Conclusion of eToro CopyTrader Review

In addition to all of these features, the etoro platform also offers a free demo account. This is especially helpful for new traders, as it lets them run through a few trades to familiarize themselves with the platform before investing in a real account.

We hope that you enjoy our eToro CopyTrader review as it’s a vital part of the future of social trading.

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Copy Trading Options at eToro

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.

A Brief Overview of eToro Online Broker

eToro is one of the largest online brokers for CFD business, with over 4.5 million users worldwide. Along with regular trading in various financial products, eToro is characterized by its focus on social trading. This function allows users to copy the promising activities of other traders. This offers great potential for new users. Users can first study the respective portfolios and finally close individual positions as they please at any time. Over time, the traders will get to learn what is essential in CFD trading and which trades are worthwhile.

Features of eToro

The main function of the eToro trading platform is, it is web-based and can be accessed directly via the Internet browser. It is, therefore, not necessary to install software on your computer. This means that your own account can be accessed from any PC — the greatest possible flexibility.

The design of this platform is launched in November 2014 is youthful and clear. It might take some time to get used to for experienced traders, which is a real relief for beginners. The generously designed control elements provide an insight where the stock exchange design dominates on other platforms.

How to trade at eToro?

As with other CFD brokers, users can trade different trading instruments on eToro themselves, or they can also use the social trading function. The transactions with the CFDs can be concluded with eToro as leverage transactions. This allows customers to trade much larger volumes than would be possible with their own capital. Both the risk of loss and the chances of winning increase proportionally with the lever selected. That is a very high 1: 400 for foreign exchange transactions.

Some drawbacks of eToro

This is the best platform for beginners and basic traders. But it lacks the support which a beginner trader expects. The trading cost of this platform is usually higher than the other trading platform. Customers can mostly know about trading details and other things from the FAQ section. But when they need real-time customer support, they might not get the necessary help and consultation. So, this is a viable drawback option for any trader. However, the opening deposit for this platform is quite lower than the other major trading platform.

The advanced traders will face many problems while connecting to the technology as eToro doesn’t allow the traders to hook up with the third party application and software.

eToro supports a limited number of cryptocurrencies compared to the other trading platforms. This is basically a cryptocurrency-based trading platform for traders. The traders can trade with the Bitcoin, Ethereum, Litecoin, Ripple, and other few currency options.

Is eToro Safe for Trading?

eToro is a regulated and licensed trading platform specialized in trading Forex and CFDs. eToro is also considered as a low-risk trading platform. Its operation is regulated by the Financial Conduct Authority of the UK. It has a separate regulatory body and doesn’t operate through the bank. So, overall, eToro is a safe option for trading both for the beginner and experienced trader.