eToro – Things you need to know
eToro is a great trading platform, it provides a large variety of investment and a fantastic community of traders. It is the world’s best and leading social trading platform. This platform provides offers of cryptocurrency and investing in stocks.
It is the best top social trading spot. eToro offers a wide range of tools for investing in capital markets. Make a wonderful portfolio with cryptocurrency.
Generally, it is an investing and online broker platform with 6m users. It allows you to get engaged in real time Cryptocurrency, Stocks, Forex, Indices, ETFs and Commodities. You can also make a long term investment moreover day-trade as well.
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Is eToro legit for you?
It is regulated and safe with 0 commission stock brokers. It has an easy to use and simple platform with fantastic mobile trading apps as well. It also offers investing in SDs, Forex pairs, ETFs and Stocks. It is excellent for cryptocurrency trading and copy.
Pros & Cons
- It provides you with a low fund of an account and starts with investing.
- It has the ability to correspond with moves of famous traders.
- It offers access to 15 cryptocurrencies.
- Whenever eToro has Forex and upright trading accessible in other countries, the U.S eToro customers have limitations for crypto traders.
- The service of eToro is available in just 41 U.S states.
Features of eToro
Social Trading: The copy trade of eToro allows you to trade and copy automatically which is based on the activity of the other trades.
How this works:
eToro gives you an opportunity to select your investor for a copy with just clicking the button, you may judge their positions automatically. The minimum cost of the copy for a user is 200$ and the maximum cost of the copy is 50,0000$.
The user may copy upto hundred traders at the same time without using copy traders, the user must view a portfolio of billions of traders, risk and stats scores.
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Offers of Cryptocurrency
Presently, eToro has an option of choosing 18 cryptocurrencies for customers of the U.S to trade. Numerous brokerages which may offer crypto facilities such as Robinhood and TradeStation,those are offered at less cost.
But on the other hand crypto exchanges such as Binance and Coinbase U.S offer more than 50 cryptocurrencies for trading. Clients of eToro can presently trade these cryptocurrencies like; Ethereum, Ethereum Classic, Dash, NEO, EOS, IOTA, Cardano, Bitcoin, XRP, Bitcoin Cash, Tezos, Uniswap, Chainlink, Dogecoin, Stellar Lumens, Litecoin, Zcash, TRON.
Cost of crypto trading
eToro takes its trading fees with spreads which may fall and rise with market conditions. Some other providers of eToro take round-turn, where one of them spreads for both selling and buying crypto assets.
The range of spreads are 0.75% for bitcoin trade to five percent trading Tezos. The spread range of cryptocurrency is between 1.9% to 2.9%. If you compare SoFi charges a margin of upto 1.25% on transactions of crypto.