eToro is a copy trading network where investors and automatically copy the trades of guru traders. In return for sharing their trades, eToro rewards them with various perks including cash. eToro calls this program “Popular Investor”.
Becoming a popular investor on eToro can be a great way to earn a second income. Here is my step by step guide to becoming a popular investor on eToro.
How Are Popular Investors Rewarded
The amount of rewards a popular investor receives depends on the number of people who are copying them and the amount of funds that have have been allocated to that investor.
The first bonus you get is access to a spread rebate. eToro will give you up to a 100% spread rebate on your trades. But probably the best bonus is the cash payment. The top traders on eToro are rewarded with $1k + 2% AUM. This could potentially be 10’s of thousands of dollars. The top traders are potentially making a very nice full time income.
So how do you actually become a popular investor? Read on to find out how.
1. Create an eToro Account
Unlike competing platforms, you can’t be a virtual or demo trader. On eToro you need to open a real trading account in order to be part of the popular investor program.
2. Make a Deposit
Popular Investors need to trade, so you’ll need to deposit funds. eToro accepts deposits via a range of methods including PayPal, Credit Card and Bank Transfer. It’s important to note that eToro is a fully regulated broker and your funds are kept securely in a third party bank.
If you want to make your way into the popular investor program, you’ll need to deposit at least $1k. eToro wants to ensure that traders have real money at stake to ensure the integrity of the program.
3. Fill out your profile
You need to upload a profile picture and fill out your profile information to be part of the popular investor program. People want to invest in real people. So use a good photo that is of you. The best profiles on eToro also have a well written bio. If English isn’t your first language, I would suggest getting your bio translated to ensure you reach the most traders. In your bio explain your trading style, what you trade and what investors can expect if they choose to copy you (i.e do you trade stocks and hold them for months at a time or do you day trade forex etc.)
4. Start Trading
To become a popular investor you obviously need to trade. I’m not going to go into any details about how you should trade. Just remember that you want to strive for long term results. So try to avoid using too much leverage and only use a small amount of your margin for each trade. Investors are also looking to copy people who are active on etoro. So if you’re the type of trader who makes one trade every few months, you probably won’t have much success getting people to copy you.
5. Build up your stats
You need to trade for at least 2 months before becoming a popular investor. You then spend 2 months at each level before being eligible for the next.
On TheCashDiaries, I tell readers that they shouldn’t copy any trader who hasn’t had at least 12 months trading on eToro. That way there is enough information on the stats page to give an informed decision.
So if you’re new to eToro don’t expect people to start copying you. eToro is a get rich quick scheme. You’re going to have to dedicate some time to it over a long period.
Here are two stats you should focus on:
- Risk Score – Keep this as low as possible anything under 4 is good and what I recommend people copy
- Drawdown – Investors get concerned if they see large swings in their balance. Keep the drawdown under control.
6. Post weekly updates on your feed
Some of the most popular traders on eToro are also the most engaged. Post regular updates on your feed explaining your positions and the market conditions. This will help keep your copiers engaged and they’ll be more likely to keep copying you, even if you’re having a bad week or month.
7. Email Me – Get featured on this site
I regularly feature etoro traders on this site to help others find good people to potentially copy trade. If you’ve been on eToro trading and think you might be a good fit for people to copy, let me know! email me at – I’d love to hear about your trading style and potentially interview you for the blog 🙂
If you’re new to trading then check out my guide for making money copying people on eToro.