eToro

The live of novice traders seem to be like a hell until 2010. At least, we can think so after reading the website of the eToro company. This web page states that the OpenBook, developed by them in 2010, was the world’s first social trading platform. Today we’ll talk about eToro’s service of copy-trading and try to figure out if this platform has retained its leading position.

About the developer

eToro is an Israeli company founded in 2007 by three entrepreneurs who created the online trading platform Visual FX. A few years later, eToro launched the OpenBook service, which was later renamed in the same way as the eToro brand. The creation of this platform became a revolution in the world of trading and made it possible for everyone to start trading, even with the absence of experience. Today, eToro is one of the leading copy trading platform with multiple locations in the US, UK, Australia and Cyprus.

Functions and opportunities of eToro

eToro provides one of the widest range of services to its clients. In particular they include access to stock, currency, cryptocurrency markets, opening a demo account for virtual exchange trading, ready-made investment ideas. However, the main feature that made eToro popular is the social trading service CopyTrader ™. It does not only allow you to copy the trading strategy of one or more signal providers, but also to get into the community of experienced investors and traders from all over the world with whom you can discuss the nuances of trading. You can also copy not only the single transactions, but the entire investment portfolios. One of the distinguishing features of the eToro’s auto-copy service is zero fees for joining someone else’s trading strategy. All the expenses for paying remuneration to signal providers for allowing others to copy their trading strategy are covered by the service.

Customers’ reviews on eToro

After analyzing the customers’ reviews on the Web, we can conclude that eToro has a number of remarkable advantages. First of all, the eToro has a wide range of trading instruments and access to the leading financial markets. Also a lot of eToro’s clients are attracted by the possibilities of social trading. The platform allows you to select a trader whose strategy suits your requirements the best, including the level of risk, profitability and instruments. As for the disadvantages, users notice about a confusing tariff schedule and hidden fees, as well as a high entry threshold.

Summary

eToro is considered the world’s first social trading service and has gained a lot of popularity during its existence. Today it is one of the leading copy trading platforms that brings together experienced and novice traders. Online reviews suggest that eToro is one of the best services in terms of trading convenience and social trading capabilities. But, of courst, it has some drawbacks. These are high rates and a significant amount of money that should be on a trading account.