Discover a social investment platform that supports investors
eToro is a free financial trading service that enables you to connect with fellow investors and trade your favorite assets. This business platform has a popular social investment community that focuses on multinational social trading and multi-asset investments. Here, you can avail yourself of financial and copy trading services.
Similar to other trading brokers, eToro offers various assets you can either purchase, trade, or invest in. Stocks, cryptocurrencies, and exchange-traded funds (ETFs) are abundant here and the platform is available as a mobile app, too. It’s typically free to use but there are still some trading costs that you’ll incur.
Is eToro good for beginners?
As a multi-asset broker, eToro is well-known for social copy trading and cryptocurrency trading, offering a variety of investment options you can look into. With more than 2,000 different financial assets available, you can invest in stocks and ETFs, buy crypto from over 60 digital currencies available, and reach out to other investors using the platform. Making connections here is a huge part of why it’s been pretty successful.
Its easy-to-use interface and features are also an added benefit for beginner investors. Some of its helpful features include the signature CopyTrader tool, which allows you to automatically copy the moves of other investors in real-time—a handy feature if you have certain popular investors you trust in. There is also the platform’s Smart Portfolios: fully allocated and balanced investment portfolios with a predetermined theme that you’d be interested in.
However, while this trading broker is a great choice among investors, it’s still limited in certain areas. For one, its services aren’t available everywhere. Stock, ETF, and cryptocurrency trading are only available in certain parts of the US, for example. Another thing is that its crypto wallet is a separate mobile app that can’t send coins to the main online trading platform. Nevertheless, these shortfalls don’t detract from the service’s main appeal.
Can a US citizen use eToro?
Any US citizen residing within selected states can sign up for an eToro account and use its services. eToro is available in every state except for the following: American Samoa, Guam, Hawaii, Minnesota, Nevada, New York, Puerto Rico, US Armed Forces – Americas, US Armed Forces – Europe, and US Virgin Islands.
If you live in any of these states, you can still sign up for eToro using your virtual portfolio, and you will be notified as soon as its services are available in your area.
Is eToro a safe trading platform?
Transacting with eToro is safe and secure, thanks to its SSL encryption and usage of tier 1 banks in storing its clients’ funds. However, it is still up to the user’s discretion to safeguard their accounts by using strong passwords, enabling 2-Factor Authentication (2FA), checking their device for malware, and safekeeping their account details.
It’s also important to note that users will only be contacted by verified eToro representatives using authorized channels and email addresses with the @etoro.com domain. Verified representatives will not ask their users for personal details or request to move funds to and from other eToro accounts or platforms.
Is eToro better than Robinhood?
Both eToro and Robinhood bring different features targeted to help users trade without the exorbitant fees offered by other brokers, but both services have their distinctions. For example, eToro offers more research and trading tools compared to Robinhood, but Robinhood allows you to open an account for USD$0, no charge. Whereas eToro requires USD$10 for stocks and ETFs.
eToro also offers over 25 cryptocurrency assets, while Robinhood only has 19. Overall, eToro is the better option for crypto traders, while Robinhood is ideal for users looking for minimal fees.
Does eToro give you money?
You can gain profit from your investments made via eToro, so in a sense, you are earning money from eToro. However, losses are expected with all matters relating to the stock market, so only invest how much you are willing to lose, especially for beginners.
The eToro platform offers a lot of research tools that users can use to learn more about investing in the stock market, so it’s essential to use these tools to understand investing and trading further.
eToro Joins Forces with Twitter for Enhanced Financial Access
eToro has partnered with Twitter to provide real-time stock and cryptocurrency data to users, enhancing the social media platform’s Cashtag feature. The collaboration enables users to search for stock or coin symbols like $TSLA, $APPL, or $ETH and view real-time prices directly in their search results.
Expanding eToro’s Reach through Twitter Integration
The partnership with Twitter allows eToro to expand its asset coverage and seamlessly connect users to its trading platform. By searching for a stock on Twitter, users can click the “View on eToro” button and be redirected to eToro’s website for trading opportunities.
eToro CEO on Collaboration Benefits
eToro CEO Yoni Assia shared that many eToro users actively discuss financial markets on Twitter, making the partnership a natural fit. The collaboration aims to engage new audiences and strengthen the connection between eToro and Twitter, leveraging the platform’s high-quality, real-time financial content.
Easy to use for any type of investor
All in all, eToro is one of the most popular online trading brokers around for a good reason. While it’s limited in its coverage and options in key features, you still can’t deny that it supports a tight-knit community dedicated to investments and multi-asset trading. With its user-friendly features and helpful community of investors, it’s a great place for beginner investors to grow.
