eToro Review – The Best Social Trading

eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets. Create a portfolio with cryptocurrencies, stocks, commodities, ETFs and more.

1. About Etoro and Why Choose eToro ?

eToro launched its social investment platform “OpenBook” in 2010, along with the company’s “CopyTrading” feature. In 2010, eToro launched its first Android apps to enable investors to make trades over their mobile devices. These innovative platforms allowed investors to watch, follow and copy the top traders in the network automatically, and they have now been replaced with an updated all-in-one eToro platform that is also available on Mobile.
Why Choose eToro:
An excellent proprietary platform customized to effectively maximize the broker’s key offering: copy trading and social trading on a wide range of instruments.
An unusually wide range of instruments available for trading: all the major and minor Forex currency pairs, as well as several exotics; also, a selection of individual stocks, plus many commodities and global equity indices.
Regulated by several major industry centers (notably the FCA in the U.K. and CySEC in Cyprus).
Patented CopyTrader™ Technology allowing for the easy and accurate copying of trading portfolios.
Effortless participation in the Popular Investor program can bring successful traders a real, paid, withdrawable commission capped at a maximum of 2% of assets under management and a 100% spread rebate credited to their trading account.

2. ETORO PLATFORM:

CopyTrader
The main platform is the CopyTrader. Regardless of how much experience a trader has in the financial arena, it is quick and easy for all traders to get started with the CopyTrader functionality. With CopyTrader, you can see who is trading which currencies, commodities, indices and stocks and immediately copy their trades.

The CopyTrader program offers traders with the opportunity to crowd work by copying the best traders on the eToro trading network, quickly and simply. With the Copy Trading portfolio, copied trades go directly to the trader’s account automatically and this allows traders to manage their copied trades in a simple and transparent way.

One of the major attractions of eToro – to most of its users, probably the major attraction – is its Popular Investor program. Simply put, to become a Popular Investor, you just let other eToro clients see your trades, copying them if they want, and once you get a certain minimum number of copiers you begin to get paid, both in real cash and in partial or full spread rebates! To qualify as a Popular Investor, you must deposit a minimum of $1,000 and maintain at least one copier for a 2-month period, as well as a minimum average equity of $500. This qualifies you as a “Cadet”, entitling you to a 20% spread rebate.

Proprietary
The old WebTrader and OpenBook apps have been combined into a single, responsive HTML5 Web application that is fully optimized and runs on any device.

Mobile
The full features of their mobile apps are available on their website and the website can be accessed via mobile devices.

4. What you’ll need to open an account with eToro:

As eToro is regulated by Financial Conduct Authority, CySEC, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

A scanned colour copy of your passport, driving license or national ID
A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore eToro’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with eToro you can visit their website here.

5. eToro Customer Support:

eToro’s customer support is available 24/5 – Monday through Friday via telephone and email, with email having a 48 hour response time. They do not appear to have a live chat function. (Email:support@etoro.com)

If a client wishes to speak to a representative, a ticket is opened and a representative contacts the customer as soon as possible. Customers can choose their customer service representative by clicking on their photograph, which is included with a brief bio of the representative on eToro’s customer service team page. Customer support is currently available by region in the following languages: English, German, Spanish, French and Italian.