eToro is my favorite trading platform. If you've used platforms such as Plus500 or EasyMarkets and you're looking for an alternative, then make sure you read on. I've highlighted some of the reasons why I like eToro so much and why you should be trading there:
With copy trading, you automatically copy the trades of more experienced traders. If you're new to trading, it's a good way to get started. eToro has the best copy trading features in my opinion. They make it easy to browse through the profiles of millions of traders and filter and find the best ones to copy.
To copytrade, you simply allocate some funds, and then whenever that trader makes a trade, the same one will be made in your account. When they close a trade, the trade will also be closed in your account.
You can even copy numerous traders to diversify your portfolio and spread the risk. Or you could choose to copy one or two people, and make manual trades on your own. You don't have to do one or the other.
Well Designed, Easy to Use Platform
eToro has the best designed web trading platform of any broker in my opinion. It's gone under numerous iterations and the current version is easy to use, yet still has many powerful features. What I like most about web trading is that you don't need to download any software. It's always ready to go and up to date.
Huge Range of Markets
On eToro you can trade Stocks, ETFs, Commodities, Forex and Cryptocurrency – all in the one platform. And there is a huge range of assets to trade. You can trade stocks from exchanges all over the world and they offer a large selection of forex pairs.
And eToro is constantly adding new assets to trade. I don't think there are many other platforms that offer such a huge range of markets to trade.
While cryptocurrency might not be doing so well at the moment, you'd be foolish to bet against it having another bull run in the future. eToro offers all the major cryptocurrencies including Bitcoin, Ethereum, EOS, Litecoin and more.
eToro recently launched cryptocurrency trading in the U.S and they have plans to launch there own crypto wallet as well. eToro has invested heavily in cryptocurrency so expect some big things in the future.
eToro is a social trading platform. It's a bit like combining facebook with a broker. Traders can post on their feed and others can follow these feeds. It's a good way to share trading ideas, and learn from other traders. The social features aren't perfect – there is an issue with seeing a lot of posts in other languages, and the odd spam as well. So hopefully this gets tweaked and fixed in the future. But I do like the community feel of eToro and it's one of the main attractions.
In 2016 eToro launched an innovative investment product called CopyPortfolios. They are a bit like mutal funds. They are made up of a themed group of underlying assets. For example there is the crypto CopyPortfolio. This is made up of the most popular cryptos. It's a good way to invest in the entire crypto market with just one investment.
You can buy in or close your position instantly and best of all, there are no management fees.