eToro Review – 5 Things that You Should Know Before Joining

More and more people are looking for ways to improve their financial status. One of the most popular ways to do that is through investing. The stock market used to be for only the wealthy, however, times have changed. Beginners and casual investors are starting to discover that you don’t need to have a lot of money to get started.

Thanks to technology, beginners can get started and be successful thanks to online brokerage firms. These firms, like eToro, created a powerful trading platform that gives access via web portable and mobile devices. For this article, we put together a lot of information about eToro and we hope that you can use all of the information to make an informed decision.

5 Things that You Should Know About eToro Before Becoming a Member

  1. Offers powerful multiple trading platforms – Whether you choose to use your mobile phone or tablet you get access to your account and dashboard using eToro’s powerful trading app. You can also access eToro’s powerful web portal and access your account and dashboard. Unfortunately, there is no downloadable software that works on your desktop.
  2. Powerful and innovative trading products – eToro created two power trading systems called CopyTrader and Smart Portfolios. CopyTrader harnesses the popularity of social media technology that allows you to browse other traders’ profiles to see what kinds of trades they have been making. Smart Portfolios are bundles of specific types of stocks, funds, and other asset groups together around a common theme.
  3. Provides its members access to some of the top global stock exchanges – With a list of some of the top stock exchanges that include the US markets (NASDAQ and NYSE) and many European markets such as Paris, London, Madrid, and many, many others. The actual number of stock markets that eToro provides access for its members to is 17. However, the access doesn’t include all of the available stocks on all of the exchanges.
  4. Access to Cryptocurrencies – Not all online brokerage houses are created equal, many don’t even deal in Cryptocurrency. eToro gives its members the ability to own and trade cryptocurrencies coins. This includes 35+ different coins, crypto crosses, and non-USD currency crosses. Cryptocurrencies are more volatile and should be handled carefully. They also present a higher risk of loss than another asset trading.
  5. Access to important research and other financial data – All eToro members have access to tons of research, charts, and financial news. eToro developed powerful analytic tools that are designed to help all of its members be successful traders. All of the research is available on both mobile and web portals and can be found in multiple languages.

Pros and Cons

Pros of using eToro for investing

  • There are no fees charged for transactions relating to stock trades
  • Set up costs are low as compared to some other online brokers
  • Easy to set up a brokerage account

Cons of using eToro for investing

  • Non-trade related fees are substantial
  • Accounts are charged a fee for inactivity
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