A Review Etoro CopyTrader Review

Review of Etoro Broker - eToro as they are popularly known, is the Israeli-based broker that has created the social trading platform called CopyTrader. This article is an overview of the software.

What is CopyTrader?

What is CopyTrader? It is the newest trading software offered by the Etoro Broker. The software has been developed to make trading easier and to make it safer. It is designed to offer the most accurate results in terms of earnings, profits, and losses.

The software is developed for both beginners and professionals. It is not just for those who are eager to start trading.

The reviews I found out from users of this software are amazing. Some of them do not even know how to use it. It was created to provide an easy, fast, and reliable way of trading.

For a review of this software, I first recommend that you read the reviews on their website. The reviews are not only from satisfied users but also from people who have used the product and have given it a bad review because of one reason or another.

If you read the reviews carefully, you will find that each review will tell you how it was used and what were the negative aspects of using the software. I did a lot of reading to be able to come up with a conclusion as to why there are so many bad reviews of this product. It seems that many people want to give Etoro Broker a bad review and they use any reason to discredit it.

They will not tell you why they got bad reviews or give any reasoning for it. But, after reading all the bad reviews, I can tell you why the software was not as popular as it should have been. Let me tell you. A good review will tell you about the software. They will tell you if it is good or not. It tells about all the pros and cons.

Kinds of Reviews

If you see a poor review, you will not know why it is poor. If you see a bad review and you are not familiar with it, you will have no clue about why it is bad. You will just dismiss it as a bad review without doing your research.

The worst thing about these reviews is that many of them were written by people who have never bought a CopyTrader product before. They are just writing because they want to see how the product works.

All of the other products on the market are written by the people who have purchased the product. They know exactly what the product is supposed to do and they know exactly what is wrong with it.

There are more advantages than disadvantages in using the CopyTrader. I hope you will consider all of this when you decide to purchase a Etoro Broker product.

Most brokers or agents on offer today don't have any knowledge of forex trading. This is why they tend to overcharge and charge so much for services they might not even be able to provide. In this article, we take a look at one such forex broker and trading platform that are aimed at more experienced traders.

CopyTrader is a social trading platform by the forex broker eToro that makes use of the best indicators available to determine when to trade on currency pairs. It uses past trends and behavior of currency pairs as an indicator of future trends and behavior. This allows users to make decisions based on the signals provided by these signals.

The CopyTrader platform has a market for both foreign exchange and forex trading. Most users stick with the forex trading, while others decide to switch over. They can buy, sell, or take orders for transactions for both currencies. Because this platform is used by many traders, it has a variety of features to cater to different trading styles.

Some forex brokers use a demo account to let users trade without the risk of losing their money. Others however use a more costly trial account for most new traders. This way, new users can try out the platform before risking real money.

Features of the CopyTrader platform

Another great feature on the CopyTrader trading platform is the ability to create a demo account. This enables users to practice without losing any of their money. All users need to do is to open a demo account and practice forex and foreign exchange transactions before investing real money. It helps newcomers get used to the platform and gives them confidence in the results they can get with the platform.

User-friendly tools and instructions make setting up a demo account easy. Since the system provides a live demo for the beginners, users can gain confidence in their abilities. A fast signal update is available and can be accessed at any time. This keeps all traders informed on the market.

While most brokers provide a host of features and tools, some leaves something to be desired. This is why some forex brokers don't offer a demo account or features to test drive their systems. This is not the case with CopyTrader.

It doesn't take a huge amount of capital to set up a demo account. Since most brokers and platforms today allow you to test out the software before investing money, most users don't have to spend a fortune to test out the platform. All a user needs is a good internet connection and a few hundred dollars to get started.

Setting up a demo account is a simple process. In just a few minutes, the user will be able to see if their trading style works for them. They will also be able to determine whether the platform is going to be effective for them. With such features, users are able to see whether the platform will be right for them.

In the foreign exchange market, it takes time for signals to take effect. The trader can only rely on past trends and behaviors to determine how the market is doing. However, a platform like CopyTrader gives users a heads up of possible events or trends that could cause their investments to be effected.

All the features offered in the demo account is a lot more than what the user can get in a full-fledged platform. Users are able to practice using the platform in real time and are given all the help they need to make informed decisions. The service is tailored for all levels of experience. If the user has a low trading skills, he can practice until he learns to master the platform.

Conclusion

When trading on the foreign exchange market, beginners usually learn a lot of things by trial and error. By offering a demo account, CopyTrader helps beginners get started in the currency markets and learn as they go.

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Copy Trading Options at eToro

Founded in January 2007, the online broker eToro has become quite a popular trading platform over the years. The original vision of the eToro founders was essential to enable investors to trade ultimately from anywhere and to promote independence from traditional financial institutions.

The CopyTrader Phenomenon at eToro

In 2009, the WebTrader trading platform was launched by eToro, which already provided investors with helpful tools for trading. In the next year, eToro launched OpenBook, which is the world’s first social trading platform. With the help of this platform, traders now can “copy” other successful investors with the “ CopyTrader “ tool and adapt their strategies. This opportunity brings a lot of appreciation and awards for them.

Since April 2011, they make the mobile version available for the platforms “WebTrader” and “OpenBook.”

Mimicking Trading Strategies

In 2013, the online broker then added shares to its portfolio, thereby enabling its customers to diversify. Three years later, “CopyPortfolios ” was launched, which bundles the portfolios and strategies of top traders and makes them accessible to all traders.

As part of the crypto hype eToro, early 2017 finally took also cryptocurrencies volumes in the range. In 2018, the online broker expanded to the United States with a US trading platform for cryptocurrencies.

Social Trading and eToro Broker

A unique feature that distinguishes eToro from other online trading platforms is social trading. The eToro platform has gained immense popularity for the social trading platform. Investors from more than 140 countries, use the online platform eToro. They also provide their know-how and experience in the social trading network of eToro. In this platform, you can find out the traders who are successful in trading. And you can also copy their strategies anytime to make most of the profit out of it.

Finding Traders to Copy

If you are looking for individual traders to follow, you can easily find them using the search function. With this search, you can also filter many different characteristics, such as by profit, risk rate, location, etc. In this way, traders can also create their individually optimal portfolio.

Social Media and Trading Community

An additional unique feature of the eToro online broker is the individually adaptable social news feed. Here social media contributions and the posts about online trading can be set so that interaction and mutual exchange with other traders of the eToro community are made possible. Apart from that, as a trader, you can also share your instruments or strategies and comment on other contributions.

Regulation of eToro and Social Trading

The headquarter of this company, which is known as eToro (Europe) Limited, is in Cyprus. This is the reason why the online broker is also regulated by the relevant financial authority from Cyprus. This is the CySEC. Another branch of eToro is also located in the UK. Accordingly, the British tax authority FCA is responsible for regulating the broker.

What Is the Concept of CopyTrading?

CopyTrading is a term that allows the traders to copy the trading style and strategies of others. This is highly beneficial for the new and inexperienced trader to take a position in the Forex trading market. In this method, the traders can link their profile with others and copy their market positions.

The Emergence of CopyTrading

In this type of trading, traders can copy other users’ trading strategies by adopting their trading portfolio. In this cloned portfolio, users invest an amount they specify, which is distributed equally as a percentage across the different products in the portfolio.

However, there can be both risk and high margin of profit with the CopyTrading. In CopyTrading, you have to follow your copy trader no matter what they do. If they open a new account and start trading their money, you will also need to do that. If they win money, you will even win, and if they lose money, you will also lose.

CopyTrading in Few Steps

Social selling can be performed easily in a few steps. Traders who want to copy a portfolio need to select the “People” item from the menu bar. One can get the option on the left side. You will find out a list of the traders whose strategies can be cloned. There is also an option of sorting the traders according to different search criteria.

From the list, you can check out the trader’s profile name and image, his average profit or loss over the past few months, and the risk rating of his trading strategy. From there, you have to find out an appropriate one for yourself. After deciding on an appropriate trader, clicking on his button will ask for the amount to be invested in the portfolio.

Mimicking Other Traders’ Strategies

The traders can follow the development of investment in detail at any time. Trader’s portfolio button opens an aspect and complete list of the financial products that the trader is currently trading. The course developments are displayed in real-time in this menu window. Individual positions can be closed here anytime. This allows customers always to adapt the copied portfolio to their own wishes and thus refine the trading strategies to their own needs.

One of the most important things one should consider in choosing an online broker is the user-friendliness of the trading platform offered. After all, customers shouldn’t spend their valuable time learning to understand an unnecessarily complicated trading platform.

Experience with different online Forex brokers shows that the online broker is pursuing its concept, which is unusual in the industry. The result is a transparent platform in an attractive blog design, which should not appeal to every user. Experienced users could put the change off at the start.

Is CopyTrading Reliable?

One of the frequently asked questions about CopyTrading, is it reliable? However, different researches and studies have conducted to become sure if it’s trustworthy or not. Well, choosing the trader carefully, based on their strategies and success rate, one can make an outstanding profit from this approach.

So, to choose or not to choose the CopyTrading strategy is ultimately the personal preference of the traders. But carefully choosing the trader, learning to trade, and making a profit is always possible.

A Brief Overview of eToro Online Broker

eToro is one of the largest online brokers for CFD business, with over 4.5 million users worldwide. Along with regular trading in various financial products, eToro is characterized by its focus on social trading. This function allows users to copy the promising activities of other traders. This offers great potential for new users. Users can first study the respective portfolios and finally close individual positions as they please at any time. Over time, the traders will get to learn what is essential in CFD trading and which trades are worthwhile.

Features of eToro

The main function of the eToro trading platform is, it is web-based and can be accessed directly via the Internet browser. It is, therefore, not necessary to install software on your computer. This means that your own account can be accessed from any PC — the greatest possible flexibility.

The design of this platform is launched in November 2014 is youthful and clear. It might take some time to get used to for experienced traders, which is a real relief for beginners. The generously designed control elements provide an insight where the stock exchange design dominates on other platforms.

How to trade at eToro?

As with other CFD brokers, users can trade different trading instruments on eToro themselves, or they can also use the social trading function. The transactions with the CFDs can be concluded with eToro as leverage transactions. This allows customers to trade much larger volumes than would be possible with their own capital. Both the risk of loss and the chances of winning increase proportionally with the lever selected. That is a very high 1: 400 for foreign exchange transactions.

Some drawbacks of eToro

This is the best platform for beginners and basic traders. But it lacks the support which a beginner trader expects. The trading cost of this platform is usually higher than the other trading platform. Customers can mostly know about trading details and other things from the FAQ section. But when they need real-time customer support, they might not get the necessary help and consultation. So, this is a viable drawback option for any trader. However, the opening deposit for this platform is quite lower than the other major trading platform.

The advanced traders will face many problems while connecting to the technology as eToro doesn’t allow the traders to hook up with the third party application and software.

eToro supports a limited number of cryptocurrencies compared to the other trading platforms. This is basically a cryptocurrency-based trading platform for traders. The traders can trade with the Bitcoin, Ethereum, Litecoin, Ripple, and other few currency options.

Is eToro Safe for Trading?

eToro is a regulated and licensed trading platform specialized in trading Forex and CFDs. eToro is also considered as a low-risk trading platform. Its operation is regulated by the Financial Conduct Authority of the UK. It has a separate regulatory body and doesn’t operate through the bank. So, overall, eToro is a safe option for trading both for the beginner and experienced trader.