How to make (and withdraw) money on the eToro platform, how does eToro earns its money (spreads / commissions / fees) and how to use the social web trading.
Can you make money on eToro?
Yes, you can. To be more excited, there are people out there who can live by trading on this kind of broker platforms. Having said that, I have to admit that some people lose money as well. And that group of people might lose a lot. Keep that in mind while trading! Below, I will explain how you can make money and how eToro earns money.
How do I make profit?
In short: by trading in products that will become more in-demand in the future. By products I meant stocks. By trading in stocks that will become more popular, which will cause a price increasement on the markets, you can make some profit. So, in short, if you think that Tesla will become more popular in the future, it might be a good deal to invest some money in Tesla by buying stocks.
The advance of eToro is that you can even decide to copy traders. I have written a blog post about that subject, so feel free to read that if you want to make money by copying trades of other traders.
How does eToro make profit?
They make money by their spreads and fees. As soon as you buy a stock, they will get a certain amount of eurocents that will be charged as they fix the administrative work (so the real buying of a stock, adding it to your account and keeping track of changes in the rates). They also get a fee for stocks that you keep for a day. Every night, they get a really small amount of eurocents as commission.. That’s how they can keep the platform up and running. However, don’t be scared: the price you pay for using the platform is really low and it won’t have a huge impact on your profit.
Keywords: eToro copytrading, social trading platform, best eToro, finding best eToro traders to copy, eToro copy trading review, etoro copy trader success, does eToro copy trading work?, who to copy on eToro, best eToro traders 2016, eToro copy trader review, eToro top earners
It might be one of the biggest reasons why people start trading on the eToro social trading platform: eToro copytrading. In this review, I will explain whether eToro copy trading works, who to copy and I will list the best eToro traders of 2016, as you might be curious who the best traders of 2016 (and 2015) are.
(How) does eToro copy trading work?
It is really easy to copy a trader. I will explain it using the image below. What you first need to do, is signing up with your account. As soon as you have done that, you need to navigate in the left menu panel to the ‘Copy People’ item. This will lead you to a page on which you can filter through different traders based on different features. E.g. you can filter the risky traders with high returns or the smaller traders in less risky markets.
As soon as you have found a trader who suits to your profile/who you want to copy, you go to his profile and hit the copy button on the top right. Then, you can decide with how much money you want to copy him.
What is a good amount of money for copying?
This depends entirely on your opinion. If you want to make more money, you can choose to copy the trader with more money. However, if you want to copy a risky trader, you need to take in account that you could also lose your money. Be careful! I recommend you to start with small amounts of money (e.g. 100$) and then expand if you are succesful / as soon as you get the feeling that you can trade with moremoney.
Is it good to copy open positions?
As soon as you start copying someone, you can decide whether you want to copy his open trades as well. This is a hard choice, as you don’t know exactly whether the products the trader has currenly open, will rise or fall. I recommend you to ask the trader in the news feed whether he recommends you to also copy his current open trades.
Finding best eToro traders to copy (2016)
How should I copy on eToro? A frequently asked question. Below is my answer.
This seems like the hardest part. Finding the best traders in your case. You need to think about this before deciding who you want to copy. What’s your trading style / do you want to risk money for high returns or do you just want to get less risk by getting low returns (to avoid getting high loses). I don’t get any commission or something like that for recommending the people below. It is just my honest opinion.
For the less risky traders, I recommend copying Keneth Mowat (a.k.a. Simple-Stock-MKT) or 4exPirate. They have been known as one of the consistent low risky traders out there. Don’t expect really high returns, but the chance of losing money is also really low. For the long term, they might be your choice if you don’t want a risky trader.
For the more risky traders, who want to gamble on higher returns, I advice to copy people like Jarodd76 or Berrau. Those people have made really high returns in the past (higher than 60% for example). However, over the year, some of them made also high losses. Keep that in mind.
Of course, you can also filter by yourself to find traders that suit you best. The people mentioned above are part of the top earners of eToro. However, there are lots of them and some people might have higher returns, so I recommend you to look through the traders success rates, return rates and losses in the past before deciding whether you want to follow that person.
eToro copy trading review
In short, I would recommend people to do copy trading. My reasons for that:
It is relatively easy and you could make some nice profits as soon as you find a trader who is a bit succesful. In fact, you can even decide who you want to copy and by doing that, you can make a well-considered choice whether you want to risk money in advance of the possibility of getting high returns or not.
You can stop whenever you want. If the tradings aren’t working out fine, you can just stop copying that cetrain trader and withdraw the money you didn’t lose.
In this blogpost, I am going to explain thoroughly a few different aspects of the Etoro trading system. I am going to talk about:
The login page of the etoro webtrader
The demo download and the ap
Etoro openbook (what does it mean?)
Minimum deposit and fees
Login page of the webtrader
You can easily log in after you signed up. Just go to the login page >> etoro.com/login << and you can login by fulfilling your credentials. If you haven’t created an account yet, you can easily sign up via this link (then you will get 200$ start bonus as well). As soon as you have signed up, you can automatically login.
There is no real demo download available yet, but you can just start trading with virtual (fake) money online as long as you want. Some people like trading, but don’t have the funds to do it with their own money. For these people, it is really useful to start playing around a bit without having the feeling that you can lose real money. Your succes of trading even depends on your experience, so it is better to get some experience before playing with your own money.
If you don’t like using your computer for trading, you can also download the application which is available on both: Apple Store and Play Store.
This part of the programm is one of the most useful additions I have seen in a web trading platform. Etoro wants to be open in a way that other people can learn from succesful traders. They have done that by adding a social news feed; a plae where you can ask question to other traders, or where other traders can share interesting news items/tips.
Secondly, eToro publishes all the statistics of traders. This is very useful for people who want to start copy trading. In that way, you can see how risky a certain person is when it comes to buying products. You can even see how many succesful products they have traded ( products on which they made profit) and statistiscs containing the whole history returnments.
Minimum deposit and fees
The fees you pay for using the platform can be found on this page >> https://www.etoro.com/en/customer-service/fees/
As far as the minum depost concerned. The minimum deposit is (at the moment) 100$. However, if you put more money on your account, you will be rewarded by getting more eToro credits. These credits can’t be withdrawed, but can be used to make more money.
Etoro has been one of the biggest forex webtrader platforms on the internet. This platform has a totally different approach to web trading then other, assumably comparable, web trading platforms. In this Etoro review, I will share my experiences with this online broker by telling you a bit more about:
Whether Etoro is worth the go
How Etoro trading works. How copying works.
Etoro bonusess by signing up via my referral link
In short: a comprehensive Etoro review in 2016 about experienes and everything else you need to know about.
Is Etoro worth it?
Some would say that almost every online web trader is worth a go. Having said that, most people forget that it is though for starters to get to know easily what they are doing when they decide to buy some products on the stock market. Etoro has seen the gap between platform, knowledge and customer by making the system very easy to use and informative at the same time. When you start, you get a quick tour, so you know all the basics and can start trading with virtual money. The userfriendlyness is a big pro and that’s why this platform is really suitable for starters (and more advaned traders).
Complaints about Etoro?
It is true that some people complain about the web trader. I have to admit that some people said the commission fees are too high compared to other platforms. However, the majority of the users are really happy with the system and keep trading on the platform. The fact that Etoro is one of the biggest Forex systems online is in my opinion of the biggest indication that there aren’t many problems / complaints about it.
People claiming that scam is happening or that the whole system is corrupt, are mostly the minority of people that have traded in too risky goods or made huge gambles by which they have been struck (and lost their money).
How Etoro trading works. Copying other traders.
Social trading is something new to the business of online trading. Etoro gives you the possibility to decide by yourself which products you want to buy, but they have also developed a way in which you can follow succesful traders by buying exactly the same products as they do in the same percentages of your budget as they do with theirs.
In that way, as soon as they buy something, you will buy the same item at roughly the same time. By following traders with high succes rates, you can easily make some money by doing nothing. Sounds to good to be true, but if you copy non risky traders, you could make some good amount of extra money without stressing about the fact that you could lose all your money.
You could also decide to copy more risky traders for higher returns, but that could lead to higher losses (logically) as well.
Do you want to get 200$ signup bonus?
By signing up using my referral link, I give you 200$ automatically to start trading with. Feel free to use this link >> http://etoro.tw/2e27Vgf