eToro Review | Know the pros and cons
eToro It is one of the largest trading platforms in the world.
The platform offers good investment opportunities for traders and investors and has more than 2,000 different investment products.
Introducing eToro
eToro was launched in 2007.
Since then, eToro has grown to become a leading en línea broker which offers a large selection of investment products in various markets.
This includes, but is not limited to, stocks, cryptocurrencies, indices, currencies, etcétera.
The platform was also one of the first to support digital currency trading.
In 2014, its customers had the possibility of buy and sell Bitcoin (BTC) through your trading platform.
Soon after, they also opened up the option to trade Ethereum (ETH) and Ripple (XRP).
Today, eToro has over 20 million active users from over 140 different countries.
The platform offers, among other things, the world’s largest popular platform where investors and traders perro exchange consejos, trading strategies and insights.
Also, they have a function called copy trading that allows you to copy the operations of expert investors with a good track record of profitability.
Pros
- Wide selection of investments: More than 2,000 different investment products.
This includes stocks, ETFs, indices, cryptocurrencies, commodities, and currencies.
- 0 commission: You do not pay commissions to buy shares or ETFs.
They also have very competitive rates for merchants.
- Invest with the experts– The opportunity to imitate qualified investors through eToro’s copy trading feature.
- The world’s largest popular platform: Join your popular network.
Here you perro share ideas, trading strategies and get a lot of useful information.
Cons
- Long wait time for customer service– Many have experienced that it takes a long time to get a response from customer service.
- High spread on currencies and commodities– The platform charges a relatively high fee for investing in currencies and commodities
- currency allocation: The account emplees US dollars.
Therefore, you will receive a currency surcharge from a bank in a different currency for deposits and withdrawals.
Trade from the eToro platform
Through the eToro web platform and the well-designed mobile aplicación makes it easy for eToro clients to start trading.
They also have many options for transferring money on the platform, making it easy for customers to make a deposit.
With low fees, low minimums, and an easy-to-use platform, eToro provides a great usuario experience.
It’s easy to find the investment products you want by filtering between different asset classes, markets and sectors.
Many also choose to make use of its copy trading feature, which allows investors to copy the portfolios and traders of the most skilled investors.
Compared to others, eToro has arguably made it easier for beginners to invest in stocks.
In addition to this, the platform perro also offer technical analysis, although there are some competitors that have more advanced tools for traders that emphasize this as important.
eToro Stocks
With the eToro platform, you will have access to over 1,000 stocks from 17 different exchanges around the world.
Therefore, you cánido easily build a large portfolio with a large selection of leading global stocks.
They also do not charge commission, which means that you perro buy and sell shares completely free of charge.
When investing in stocks through eToro:
- Own the underlying asset: This means that you are a co-owner of the company in which you invest.
- receive a dividend: A dividend is a portion of profits that a company chooses to pay out to shareholders.
When the company you are invested in pays a dividend, you, as an investor, will receive this money.
- Being able to invest with a minimum transaction as low as $10.
Cryptocurrencies on eToro
Since supporting Bitcoin trading in 2014, eToro has grown to become a leader in cryptocurrency trading.
In 2018, eToro also got eToroX, a professional crypto service for corporate and institutional crypto investors, and Crypto Wallet, its own cryptocurrency portfolio.
Open an eToro account
Creating a profile through eToro is very easy and only takes a few minutes.
The platform is very easy to use, regardless of whether you are a beginner or an active trader.
To get started, do the following:
- Create and verify your account
- make a deposit
- Find the depósito you want to invest in
- Select the amount and complete the purchase
You perro make a deposit on the platform.
This cánido be done vía PayPal, bank transfer, or other desirable methods.
The minimum deposit is $50 vía card or PayPal, and $500 vía bank transfer.
What do we think of the eToro platform?
Not surprisingly, eToro is among the most habitual platforms to invest for international investors.
There are few platforms that cánido match eToro’s wide range of trading, ease of use and ability to copy trade.
Although eToro is our preferred trading platform, the platform does have some downsides in that customer service perro often take a bit of time during busy periods.
So it cánido be good to know that the same questions often come up, and the answer to these cánido be found in the FAQ section on their website.
In addition, they have published several informative vídeos to help investors.
If you want to build a broad portfolio that is commendable and reduces risk, it is advisable to have investments from different markets, sectors and regions.
Then eToro is recommended.
If there is anything to blame eToro for, it is that the platform has a slightly high spread across currencies and commodities.
Overall, eToro is our platform of choice when it comes to trading financials.
Is eToro a scam?
The fácil answer to this question is no.
In several places you perro see that various people have given bad reviews to the eToro platform, such as on Trustpilot.
When you see these reviews, you understand the reason for this:
- The investor has forgotten to confirm his account and therefore cannot make a withdrawal.
This is due to money laundering laws that eToro follows to protect its investors.
- Investments have resulted in losses.
This is a risk on all platforms, and it is important to know that investing in financial securities always carries some form of risk.
- Aggressive marketing of companies that have very good profitability
That eToro is a scam is therefore not correct.
If you follow all the instructions and complete your profile, you will be able to easily make deposits and withdrawals, and buy the investments you want.
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