Are you a profitable forex or stock trader? If so, did you know that with etoro you could be making a lot more money by sharing your trades? If you’re not taking advantage of this, then you’re potentially leaving a large amount of cash on the table.
On etoro, investors can browse through the profiles of traders and then “copy” the ones they like. When you copy a trader on etoro, you allocate a portion of your funds to be used to mirror the trades of the trader you are copying. So now, whenever they make a trade, a proportional trade will be made in your account too.
This type of platform has allowed regular people access to the somewhat complex and tricky world of forex and stock trading.
Get paid when people copy your trades
On etoro, when someone copies you etoro rewards you with a number of benefits in a tiered system. Starting out, you’ll earn a spread rebate on your trades, which is very nice, and will increase your profits, but won’t be a second source of income.
As you get more people copying you, thats where things start getting exciting. You’ll start earning a cash payment from etoro. At the top tier you’ll earn 2% of the assests you have under management. This means you could be earnings tens of thousands of dollars on top of your regular trading profits.
The tier you’re in is based on a couple of factors but the most important is assets under management. Remember eToro is a huge platform with a million+ traders, so you’d be surprised how easy it is for a good trader to have $100k+ under management.
Becoming a popular investor
The good thing about etoro is that you can’t buy your way into becoming a popular investor. You need to earn it. And you earn it simply by being a good trader. eToro has search tools that make it easy to find traders who have made consistent returns, so you’ll be discovered if you’re profitable.
eToro is also a great platform to trade on. They have a solid interface, great charts and a huge range of assets to trade. If you’re a profitable trader on another platform, I really would recommend you try out etoro – you’ll be able to do the same trading, but also profit when people copy you.
Building a following
Obviously you’ll need to make profitable trades, but here are some other things you can do to appeal to investors:
- Make regular trades – copy traders like it when they see they’re money working for them. If you’re the type of trader who makes 1 trade a month, people might not want to copy you. Regular traders have more success.
- It takes time – people will only start copying you after they can see a few months of stats. Personally I only copy trade someone with 12+ months of stats to look at. This means you’ll need to be willing to stick at etoro for the longer term. This isn’t get rich quick.
- Post on your feed – etoro is as much a social network as it is a trading platform. Traders who post updates on their feed and engage with investors are more likely to succeed.
- Focus – I copy one trader who trades exclusively cryptos. Another uses a hedging strategy and invests in just one forex pair. Become known for trading a strategy, an industry or particular asset. A focused portfolio will appeal to investors who want access to a particular market.
Find out more about the popular investor program here.