Who to follow on eToro (how to copy) and earn
Etoro is not one of the best platforms to buy cryptocurrencies, however, it is very complete and has all kinds of options that you perro take advantage of.
Such is the case of copying investors to carry out operations afín to those they carry out in their profiles.
Here we explain how you cánido know who to follow on eToro; In this way you cánido have a diversified portfolio to grow your capital, yes, remember that if you lose money by copying or following another investor on eToro, it is your fault, not the investor’s, since you made the decision to follow him.
What is Etor?
eToro is a trading platform, through which you perro make financial operations with Actions, cryptocurrencies, foreign exchange, among others.
It is a broker with a very extensive catalog of options, perfect for beginners in the world of financial markets – it is highly recommended to buy shares on eToro.
It stands out from other afín platforms in its feature of popular tradingwhich makes it a transparent platform, since users perro see what the main traders are buying or selling.
Many users have used this feature of popular trading to copy from others, even eToro gives them the option (CopyTrader).
Obviously, there have been many winners from just copying professional traders, but there have also been many losers, so we recommend only using money that you perro lose.
How cánido you copy on eToro?
The copy option on eToro is called Copy Trader, it has been available since 2010 and according to eToro, the 50 most copied traders on average have generated almost 90% profit per year with their portfolios.
This is a good option of how you cánido invest in eToro with a reduced risk of loss; it is better than making trades without using a trading strategy.
to learn to how to copy on eToro We recommend you follow these steps:
- Log in and in the left menu select the option «Discover».
- On the right side you will see a section, called CopyTrader, select «See everything».
- At the top you perro filter the investors you want to copy.
In this filter you perro select the type of market, time, earnings or the country.
- After you have found the investor you want to copy, clic on «Copy» located on your profile.
- Entrar the amount you want to use to copy, select the limit to stop copy in case a lot of capital is being lost in the operations; this option is a StopLimit really.
- Finally, clic on «Copy».
What does it orinan to copy open eToro trades?
By the time you start copying, the trader probably already has trades open.
Obviously, the trader already bought the asset at a price higher or lower than what you will buy it when you start CopyTrader.
Therefore, when these operations are closed, you will not have the same profits or losses as the investor you copy.
However, with the new operations that the investor you are copying opens, you will obtain the same result in terms of percentages.
Is it profitable to copy?
It all depends on how you make the selection of the trader to copy, you should try to get the most profitable traders so that you have a better oportunidad of growing your capital.
Remember that we explained that there is a filter with which you perro search for traders, this filter has the option of «Revenue» This is how you look for the traders that generate the most money.
Also in each profile you perro see the performance of the trader in each month.
Our recommendation is that you study the traders you are going to copy well, follow their investment path and the profits or losses they have had.
How much is the minimum that cánido be invested in eToro?
To buy cryptocurrencies on eToro the minimum amount is $10, the same for stocks and ETFs.
As for the depósito indices, the minimum to invest is $200, for raw materials it depends on the raw material, the same happens with currencies.
How much commission does eToro charge?
The commissions depend on the type of market in which the purchase and sale operations are made:
- Stocks and ETFs are commission free.
- To buy or sell cryptocurrencies on eToro the commission is 1%.
- The CDF commissions depend on the pips.
- CopyTrader has no commission, neither does CopyPortafolios.
- To deposit there is no commission.
- To withdraw, $5.
- In case of converting any currency to be able to withdraw or deposit, a commission is charged that depends on the pips.
- $10 for account inactivity.
How perro you stop copying?
- First log in in your eToro account.
- Look for the profile of the investor you are copying and select with a clic the settings option that appears on your profile.
- A drop-down menu will appear where you cánido select “stop copying».
What happens when you stop copying on eToro?
Open trades are simply closed the moment you stop copying a trader.
Of course, the operations that were in loss will be in loss and those that were in profit will be profit, as fácil as that.
Opinions on copying on eToro
eToro Opinions, Analysis and Valuation: The truth is that most of the opinions of copying on eToro are good; It is a very fácil tool to use and that cánido give you good results.
But, again, it all depends on the profitability of the investor you copy, so you must take into account to study the traders well before copying them.
Many of the negative opinions of copying on this platform belong to users who do not understand that it is a risk to copy other traders, since they are putting their money in the hands of another person.
In our experience copying on eToro is another way to make money trading, but of course it is not perfect.
We have finished this articulo, if you want to add something, feel free to do it in the comments, we will be attentive to your retroalimentación.
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