Online Trading Platforms
This post contains affiliate links. It means we get a commission if you purchase from some of the companies we advise here at no extra cost to you. Be that as it may, the advice below represents our real opinion.
In the past, trading transactions have been handled between brokers or counterparties manually. Starting in the '70s, a significant portion of transactions have shifted to online trading platforms. These are software programs to place orders for various financial products, such as stocks, bonds, currencies, commodities, derivatives, and others.
Over time, trading platforms developed into online trading portals - allow for live streaming prices and near-instant execution of orders as well as using the Internet as the underlying network. This way, trading became available for users from any location. Electronic, online trading platforms are usually mobile-friendly and available for Windows, iOS, and Android-powered devices.
Trading has a wealth of professional concepts and expressions, such as leverages, CFDs, margins, etc. Fortunately, these concepts and the risks of trading are explained clearly on the trading portals.
Below we will review the best known and most reliable online trading platforms and portals.
Introduction to eToro
eToro is a social trading and multi-asset brokerage company that focuses on providing financial and copy trading services. It has registered offices in the United Kingdom, the United States, Cyprus, Israel, and Australia.
Features of eToro
eToro has an intuitive, easy to use platform. Surfaces are nice and clear, and the menus and navigation are straightforward.
At eToro, you can trade commodities, currencies, and stocks, but you can also choose from a selection of cryptocurrencies. Over 90 different cryptocurrencies are available. Users can buy real cryptocurrency assets to their own crypto-wallets, or they can buy CFDs. The difference is that CFD trading does not involve the actual asset. Users from the USA can only trade with actual cryptocurrencies, no CFDs, or other assets.
One of the unique features of eToro is its "CopyTrading" feature, which makes them a social trading platform. It means that the platform enables users to view, follow, and copy the network's top traders' activity automatically. Users can set the amount they wish to use for copying another trader, set up stop-loss limits, choose whether copying all of the other traders' portfolios, or only the upcoming ones.
The CopyTrading feature is a really helpful one. It allows even those without the expertise to benefit from trading. You don’t have to do tedious research to make the individual investment or trading decisions, just follow the best performing traders. Of course, even this is not a guarantee of a secure profit, as the copied user may lose. Fortunately, the statistics show who is making a profit or loss, who is doing risky financial operations.
eToro has a Demo Account feature, where you can try trading. It is a risk-free way to learn how the platform works without depositing real money.
When you deposit money and carry out operations with it, that has management costs and risks. You can find a page on their site about applicable fees.
The eToro makes it clear that 71% of retail investor accounts lose money when trading CFDs with them. So, you should
consider whether you can afford to take the high risk of losing your money.
We advise you to learn how trading in general and the eToro online trading platform works. Read materials on their website, try their demo account.
You can find useful and detailed explanations and guides on their website.
To be among the 29% successful traders who profit from the platform, you have to prepare yourself and make well-found decisions.
The site offers support and a help center for your questions, where you can create new tickets with your queries.
eToro does not charge a fee for depositing money. It accepts a lot of different payment methods, such as:
- Credit card
Withdrawal has a fee of $25. The minimum amount you can withdraw is $50.
If many people follow your trading, there is no withdrawal fee for you, and you can get even a fixed monthly income from eToro. For details, go on eToro's website and look for how you can become a Popular Investor.
You can find detailed instructions, explanations, tutorial-videos on the eToro website about many aspects of trading. Use these resources!Visit eToro
Regulation Details and User Count
In the European Union eToro is regulated by the CySEC authority. It is authorized by the FCA in the United Kingdom, by FinCEN in the USA, and by the ASIC in Australia. As of May 2020, eToro had 13 million registered user accounts. The company reported operating in 140 countries.
Stock Portfolio Details
Between others, you can find a selection of 130 British and German stocks on eToro, composing the FTSE 100 Index and the DAX30. In 2018, eToro launched a cryptocurrency wallet for iOS and Android and entered the US market by offering ten cryptocurrencies: Bitcoin, Ethereum, Litecoin, XRP, Dash, Bitcoin Cash, Stellar, Ethereum Classic, NEO, and EOS. In November 2018, eToro announced the launch of GoodDollar, a non-profit, open-source community project aimed to reduce global wealth inequality through universal basic income (UBI) using blockchain technology.
Popularity and Public Presence
eToro makes serious efforts to get popular among the public.
In 2018, the company released an advertising campaign on YouTube with Game of Thrones actor Kristian Nairn and the 'HODL' meme featured in it. The word HODL was originally a mistyping in a forum-chat, but over time the cryptocurrency community started using it to express their crypto-investment strategy.
Recently their featured actor in their adverts is Alec Baldwin.
Also, in 2018, eToro announced a sponsorship deal with seven UK Premiership teams, including:
- Tottenham Hotspur
- Brighton & Hove Albion F.C.
- Cardiff City F.C.
- Crystal Palace F.C.
- Leicester City F.C.
- Newcastle United F.C.
- Southampton F.C.
The sponsorship continued for the 2019-20 Premier League with:
- Aston Villa F.C.
- Everton F.C.
- Southampton F.C.
- Tottenham Hotspur F.C.
- Crystal Palace F.C.
- Leicester City F.C.