Social Trading with eToro
Social trading in general is a form of investing that allows investors to observe the trading behavior of their peers and expert traders and to follow their investment strategies using copy trading or mirror trading. Social trading requires little or no knowledge about financial markets, and has been described as a low-cost, sophisticated alternative to traditional wealth managers by the World Economic Forum.
Social trading with eToro is a mixture of a traditional forex or stock broker with a social network like you do know for example from Facebook.
Every time you open a trade it is automatically shared with the community. On the other hand, you can also see every trade that the gurus - these are the top traders on eToro - make, all in real time.
You can invest in currencies (Forex), stocks (like Apple, Google, etc.), commodities (gold, silver, oil, etc.) and indices and ETFs.
Since I don't always have the time to be up to date in trading, I personally invest almost exclusively in a few experienced top traders, copying their trades and supplementing this trading with trading individual stocks, currencies and commodities that are interesting for me.
Earn Money with eToro
If you are a complete newbie to the stock market and not exactly a top banker or economist, I would not recommend trading currency pairs on your own. It takes years of experience and a good knowledge of the market to be successful there in the long term.
The good news, however, is: With eToro you can automatically copy all trades of top traders and experienced users. This is how you benefit from their experience and know-how. All you have to do is find one or more good traders and copy them.
This is how you make money at eToro
In the following I will show you step-by-step how you can earn money at eToro.
Please follow these steps as I show you. If you simply open an account and randomly copy traders, and still carry out your own trades, you will quickly experience your blue miracle. In the worst case, you will lose all of your capital that you have invested.
The best way to make money with social trading in the long term is to find successful traders and copy them. I will show you exactly how this works now.
Step 1: Register for free on eToro
Register here for free on eToro and using this Create a eToro accuont
If you deposit at least EUR/USD 250, you will receive a bonus of an additional EUR/USD 25 trading credit for your deposit and you already have a nice start-up capital.
Step 2: Find and copy top traders
Copy multiple traders. I myself usually copy a trader with at least EUR/USD 1.000.
If you have copied a trader and you notice that some of his trades are not automatically copied or executed by you, then it is mostly because the amount is too small.
Step 3: Earn passively money with social trading
Just wait and see. Patience is the key.
Some traders only open 1 to 2 trades per week. Some, on the other hand, have a lot of trades. The most important thing is not to get impatient and angry that nothing happens.
You have laid the foundation for your passive income. The trader does the rest for you. Build a portfolio with successful traders and enjoy your profits.
If a trader has not made any significant profits after three weeks, then stop copying. Then just look for a new top trader.
My best tips for making money at eToro
Finally, I would like to give you my best tips on “Earning money with eToro”. These tips apply to beginners and people who do not actively trade themselves, but want to copy other top traders.
Don't trade yourself. One mistake I made at the beginning was opening my own trades. I thought I was a day trader, but I didn't have the knowledge or experience to be successful in the long term. And for that I paid the hardship. So don't make the same mistake and stick to the top traders at the beginning and copy them. If you still want to trade yourself, start with a demo account at eToro and trade with virtual money.
Copy at least 4 different traders. If you copy just one trader, the chances are that you will lose money. Reduce the risk and so copy at least 4 top traders on eToro.
Do not copy traders who make more than 100% profit in short time. Sure, more than 100 percent profit sounds very tempting and promising at first. However, these traders often use a very risky strategy. Instead, look for traders who make a profit of around 30%. That's still an excellent return.
Trading with eToro - Summary and important facts at a glance:
eToro is one of the world's most famous social trading platforms. This social trading platform now has over 4 million users. This makes eToro the world's largest social investment network with incredible opportunities to benefit from the know-how of the most successful top traders.
Only 200 EUR/USD minimum deposit
Already over 10 million members
Largest social trading and investment community
Trading with ZERO commission means there is no markup on stocks and ETF's
Consistently simple concept and trading platform
A free practice account with USD 10.000 starting capital
A variety of tools to help you get started with trading
Web-based trading platform plus mobile trading
Free webinars and trading videos for beginners
eToro is a platform where successful and professional traders meet inexperienced investors. The platform is designed so that you can immerse yourself in the world of trading even without knowledge or experience. Just find a successful trader, copy it and profit from the profit.
One of the biggest pluses in the eToro test is the social trading provider's specialization in making copy trading accessible to beginners: via the trading platform (OpenBook and WebTrader, completely web-based and also available as an app), stocks, indices, currency pairs and commodities can be traded in Be traded in real time. Of course, the social investment community also offers a social component such as from Facebook knows. Members can publish status reports on trades and discuss their strategy with other members.
My previous experience has shown that eToro is one of the best social investment networks. It is simply the best way to get started with copy trading. In addition to security and risk-free trading, simple operation and problem-free use are the important advantages of the social trading provider. The social trading platform eToro offers users a wide range of tools that are easily used to immerse themselves in the world of Forex trading. The ranking of the members and the criteria can be found thanks to a separate people search engine. This gives you the opportunity to identify the top traders and copy their trades 1: 1.
You can copy the top trader's move with one click of the button and benefit from his knowledge and experience. The button can be reached after a short registration and entering the user name and password. After this step you immerse yourself in a world of commodities, currencies and indices.
eToro has tried to create a comfortable place where you can easily trade. More than 10 million users are proof that eToro has beneficial tools and options for easy trading. It is not for nothing that eToro is the world's largest social investment community and therefore, according to our test, the best choice for beginners and advanced users who want to get into the world of social trading.
eToro has developed into a social trading provider that is spread in more than 152 countries. You can trade the capital online and transparently or with just a few clicks you can follow other successful traders and reproduce their trades and strategies 1: 1. Every time one of the traders you have copied opens a trade, it is automatically made in your account as well. This is how you benefit from the knowledge and success of the top traders at eToro. This is the principle of copy and mirror trading, or social trading.
The social investment network has many facets, the advantages of which you can use after registration or during the test phase. eToro offers skeptical and potential users the opportunity to test the platform for free with the help of a demo account. This trial period lasts 15 days and traders do not take any chances because they are not using real money to trade. After this time it is up to you whether you want to join the community.
This is a perfect way to invest capital without pressure and leverage the knowledge of other traders.
The trading experience is sparked by the quick connection of people and markets. The users come into contact easily and can research the successes of the other members and turn them into their own profit. The site is designed so that a search can be made according to your own criteria.
The eToro investment network enables users to easily use the platform, which is regularly updated. eToro has shown that the most necessary tools and resources are available to users - and that is also one of the reasons for the success of this platform. The system of the social trading provider eToro is equipped with the latest software and skilfully combines the functions of a social media community (status reports, chat, likes, sharing, etc.). This method offers a forex and social trading revolution that enables users to use it flawlessly and thus promotes the exchange between successful investors and newcomers to trading stocks, currency pairs and commodities.
In the test, this social trading platform has proven to be a provider that deals with the needs of customers and continues to develop its system. The person search is certainly a highlight. With the help of this search, the most popular and successful traders can be found on the basis of various search criteria.
So you can e.g. find traders who have made at least 10% profit in the last 6-12 months, have uploaded a profile picture, have made at least 10 trades in the last few months, have at least 50% profitable weeks and no more than e.g. Max. Made 10% loss in a week.
The platform that eToro currently attaches great importance to is the OpenBook. Visitors who are not registered can also see here which trades are currently being started by other members. On the right is a list of the top performers, with peak values that sometimes achieved a performance of over 300 percent (!) In six months, individual weekly performances approach 80 percent with a maximum drawdown of 14.1%.
This idea of social trading became popular around the world around 2006, and of course it offers enormous advantages. Anyone who trusts other traders will follow their trades, which is also possible automatically on eToro. After all, you often don't have the necessary knowledge or time to deal with stock prices, business news and the like. This is where copy trading comes in. With just a few clicks you benefit from the investment strategies of the top investors in the community and you can exit at any time and withdraw your capital if the trader suggests poor performance.
Has this post brought you closer to social trading and do you also want to build up a passive income? Then get started and register here with eToro, the world's leading social trading platform.
You can find information about eToro in more detail by clicking the screenshot below: