EToro

EToro is a online trading platform that uses crowds to source knowledge about trading so that its users can make sound financial trading decisions.Users can trade commodities, currencies, cryptocurrencies, and stocks on the platform.

The company started out as a platform that explains financial trading with graphics and other financial instruments. It added a WebTrader feature, which allows users to actually trade financial assets globally. The next feature to be added was the social aspect of the platform known as CopyTrader. In 2015, EToro merged the two platforms into one interface so that users can socialize and trade in one place. Users can chat with anyone on the platform, including the CEO. A CopyPortfolio feature has also been added and it is a managed portfolio that bundles various assets under a predetermined market strategy. Cryptocurrencies and an American cryptocurrency trading platform have also been added to the platform. Users can access EToro via mobile application with both iOS and Android systems.

eToro is a brokerage firm which allows their users to trade on a variety of instruments including forex, stocks, cryptocurrencies and more. It features an online investment platform so traders can access a full range of asset classes.

It was founded in 2007 and since then, it has diversified and has been providing financial and copy trading services to millions of users worldwide.

Note: The content below discusses everything about this broker based facts and its features. If you're looking for an eToro review then be sure to check out our separate article which is based on the actual tests that were done by our traders. But if you're looking to know more about eToro in detail then you may continue reading below.

Traders

eToro has over 27 million users in more than 140 countries and millions of trades are executed on average each month.

Their online investment network is comprised of users with varying skills, experiences and market preferences. Those who have the knowledge in the financial markets can be part of their Popular Investor program so their profiles can be followed and their positions can be copied by other eToro traders.

Account

The entire process of opening an account will only take a few minutes and can be done straight from their website or via their mobile apps for Android and iOS devices.

The digital registration form will require a username, email address and password but they also allow registrations via Facebook, Google or Apple ID.

Accounts have different club tiers (Bronze, Silver, Gold, Platinum, Platinum Plus and Diamond) and this will be based on the realized equity and not the amount deposited.

When it comes to account types, they offer the standard live account, the free demo account and Islamic accounts.

eToro account settings can be accessed by clicking on Settings from the menu and then Account via the web-based platform or the app.

Demo Account

All registered members can use the demo account to practice their trading skills or explore the platform without risking real money.

To begin with:

The demo account is labelled as "Virtual Portfolio" and this already comes with free $100,000 virtual money.

Since the account is in virtual mode, users can experience the live trading environment and see real-time market prices of stocks, forex, commodities, indices and other instruments with no risks.

How can you actually use this?

If you are a beginner, you can use this feature for testing the interface or learning how to trade via this broker.

On the other hand, if you are an experienced trader, you can take advantage of the demo to improve your skills or experiment on different strategies.

It is important to remember:

Using the eToro demo account will not generate any real profits or losses. You will need to switch to the "Real Portfolio" or live account in order to trade real money.

Islamic Account

As a special service for Muslim traders, an Islamic or swap-free account is available for those who strictly the follow the teachings of Quran that are related to finance restrictions.

Under this halal account, any trades that have been left open overnight or for more than 24 hours are not going to be charged with weekend commissions or rollover fees so for the entire duration of the contract, technically, there is no "Riba" in any form.

A real account with a minimum first time deposit of $1000 is required before you can request for the eToro Islamic account from their customer service team.

Logging In

Logging in to eToro requires an existing account with this online brokerage firm.

Clients that have an active account will have the following login credentials:

1. Username or email address
2. Password

These are the two essential details that users will need to provide in order to sign-in to their eToro accounts.

Other sign-in options are also available and this can be done via the following:

• Apple
• Facebook
• Google

Here's the deal:

These methods can only be used if the account was linked or associated with any of these external services.

For any questions or information about signing in to this broker then be sure to check out this detailed article that covers everything about eToro login concerns, common issues and the possible solutions.

The main page of the eToro app/platform provides access to most commands and menu options including the following:

• Watchlist
• Portfolio
• Discover
• Withdraw Funds
• Settings
• Help
• Logout
• Deposit Funds
• Switch to Virtual

The eToro app has a uniform interface across all of their platforms so it basically looks the same on a desktop, laptop, tablet or smartphone. The only difference is the screen size since this will be dependent on the device that you are using.

Aside from the numerous eToro reviews that are available online which are mostly positive, the company being regulated is among the primary factors why they have a good reputation. They comply with specific regulatory framework and these guidelines are different per financial authority. This basically means that the available services, products and coverage may differ according to the operating entity that you are dealing with.

To find out which specific eToro regulation your trading account is under, this can be determined via the Terms and Conditions that you agreed upon during the registration process or by simply accessing your profile settings.