eToro copy trader is a social trading platform, which has become very popular recently. A social trading platform allows anyone to copy the strategies of a more experienced trader, or in other words, copy them as they trade without the need for technical know-how.
eToro copy trader is the leading platform in the world for copy trading and #1 according to thinkmobiles.com. eToro copy trader is an amazing extension of Openbook. It was launched in 2011. With it, one can follow and invest as a trader invests in the forex with a single click.
What’s more, it doesn’t require any technical expertise or technical know-how on how to work out. One just has to be a keen observer for it to work. Sounds like easy money, right? So, what are the other things which make this new technology revolutionary? Let’s find out.
What is eToro Copy Trading?
eToro Copy Trading, as the name suggests, works by betting on the trading ability of another trader. In this, one can bet on up to 10 (which you think are successful) traders and invest automatically to gain profits. Now when they gain a profit, you will also get your share of profit.
Of course, if the trader runs into losses, you will have losses too, but there are ways to minimize this loss and turn the tide in your favor. But before you start on eToro copy Trading, you need to know its advantages. Here are some things you should know about it and some reasons to try out eToro copy Trading yourself.
How does it work: It’s stellar performance
You start by identifying up to 10 successful traders on eToro copy trader and following them. You just need to select a trader you want to copy and just click copy. You will then copy the investment as they do, monitor your profits, and even add or remove the funds. The initiation of trading is almost simultaneous and takes less than a second.
So, for example, if you invest $1000 on a trader and they open up a position at 20% of their asset, simultaneously and automatically, $200 is invested in them. You can identify the traders (by using Guru Finder by eToro copy Compare Brokers trading) on their ability on the basis of the following parameters.
It shows the average Position of the trader according to the capital they invest in. The default setting offered by eToro copy trader is 50%.
A measure of the risk involved, it shows the frequency of traders entering the leverage of 100 or higher.
It shows the highest loss in a week incurred by a trader. If the value is lower, there is a lower risk in following the trader.
With exposure, you can look up the traders investing a certain amount of their total assets.
Minimum number of trades
With this filter, you can see the minimum number of trades completed by the trader in a period.
Average trade duration
Ranging from 1 hour to 30 days, it shows the longest amount of time investment was held for.
It is the income calculated as a percentage.
It is the percentage of the number of weeks a trader closed with profits.
The minimum amount required to start trading on eToro copy trader
The minimum investment amount for it is as low as $200. However, the minimum amount for each copied Position is $1.
Why you should try out eToro copy trading
No technical know-how, prior knowledge, or expertise needed
Most people are afraid to step into the world of forex trading because they don’t want to take risks or run into losses for their lack of knowledge. While this reason is understandable, it highly limits one’s earning potential. It is said that the extra money should always be invested, and forex trading is smart if you know how to invest.
Now not everyone is born a forex trader, but we all have the ability to compare and contrast people of different skills to find the best one whom we can follow. And with eToro copy trader, we can copy the forex trading of the person as they do it automatically, which brings us to our next point.
It is automatic
Today, everyone wants easy money. While eToro copy trader doesn’t guarantee money, but it takes it as close to it as possible. As eToro copy trader works automatically after you follow a trader with just one click, it is automatic and simultaneous.
It saves time
Nowadays, it is said that one has either time or money. So you can either save time while spending money or save money by spending time. With eToro copy trader, you can save both. As it automates everything, you don’t have to worry about investing your precious time in it.
You don’t have to read the newspaper trying to understand the news and their implications (or throw your coffee cup in frustration over it)
Following the news is one frustrating necessity of forex trading. One has to keep up with both the financial and political worlds along with other field news. We get that it’s irritating to try and read the morning news every day (and evening news) if you are a beginner in it and struggling with the technical terms like hedging and liquidation. But with eToro copy trader, none of that is required.
You can use a demo account with demo cash to gain a feel of the real thing
If you are not comfortable with starting with real money, don’t fret. Use a demo account to test your abilities and try for yourself. It also helps avoid the loss of real money when you are a beginner.
It is trustworthy
eToro copy trading platform, as the world’s leading social trading platform, is totally trustworthy with no hidden costs for anyone who uses it.
eToro copy trading platform is reliable for every beginner or professional using it.
It is transparent (as a glass)
Transparency is another positive feature of eToro copy trader. eToro copy trader allows you to track in real-time what the other traders are doing and how they are distributing their assets. This transparency helps you decide how to distribute your funds.
The average yearly profits on eToro copy trader were 29.1% for the 50 most copied traders of 2019. This figure alone is enough to convince anyone to use eToro copy trader.
No hidden costs
You don’t have to worry about hidden costs with eToro copy trader. Everything you are charged for is shown to you.
Not just a place to trade, but a community of learners
eToro copy trader offers so much more than a simple trading platform. It helps experts gather and share their knowledge, strategies, tips, and tricks. The financial world is dynamic and ever-evolving, eToro copy trader helps keep up with it.
It is simultaneous
As soon as you start copying the trader, the trade is started. You just have to sit back, kick up your feet, and relax after this.
You can earn even more on eToro copy trader by becoming a part of the Popular Investor Program
You can increase your monthly income by becoming a part of the eToro copy trader Popular Investor Program. Just make sure that your profile is public and that you meet the eligibility criteria for becoming a Popular Investor. You can earn more than money by becoming a popular Investor (merchandise etc.).
A huge network of 4.5 million investors
eToro copy trader boasts a huge network of investors comprising over 4.5 million investors who invest daily in forex trading on this platform. One can only imagine the benefits such a huge network offers.
Great positive reviews
eToro copy trader also boasts a wealth of positive reviews to back up its good reputation in the forex market. It is reliable, trustworthy, and useful for any trader who uses it.
Things to keep in mind when doing trading on eToro
Take care of this while trading :
Take care of who you follow
Use your ability to map skills, differentiate talent from luck, and check who you follow. Following people who themselves follow other traders is a huge red signal since they are more prone to risks.
Rather than following someone who makes huge profits in a short time (and invests a whole lot of money in a small amount of time,) follow someone who has reaped profits over a big period of time.
Use Guru Finder to your profit
We have already described how Guru Finder works above; use it to find people you can follow without worrying. It is definitely a useful piece of technology from eToro copy trader and should be used to its maximum extent.
Take time to map out their history and portfolio
Knowing the history of a trader can help a lot in judging their abilities. Rather than thinking for a short-term time, think ahead and choose a trader who thinks ahead. This is because a trader who makes huge profits in a short amount of time may also incur a huge loss in an equally short amount of time.
eToro copy trading platform is, therefore, a huge success in the social trading world with its plethora of positive qualities. If used cautiously, it can help anyone reap huge amounts of profits quite easily. There are, of course, risks involved, but the eToro copy trader’s benefits are more than its risks.