eToro is a multi-asset platform which offers CFD and non CFD products.
75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
One way you can ease yourself into Forex trading is to utilise Social trading to take away some of the initial pain from the learning curve associated with learning any new skill.
When you are learning something new, even if you have done a tremendous amount of research, you will be stepping out into the unknown. This can be quite frightening and it is natural to feel a certain amount of nerves. However, similarly to the forex game, social trading platforms, that weren’t available just a few years ago.
1. You Learn For Free
In the past it was almost impossible to find a trading mentor to learn from. Unless you were working at a fund or investment bank, your chances of ever finding a big time trader willing to show you their strategy was next to zero. With the rise of social trading you can now see exactly how profitable traders make their money – an invaluable advantage for an upcoming trader.
2. Your Money Is Working For You
Some beginners stick to testing their skills on a trading simulator until they can prove to themselves they are ready to risk their money. This means they have risk capital sitting around doing nothing. On the other hand choosing a trader to manage your money will be an educational experience in itself.
3. Practical Examples Always Beat Theory
There are many educational pieces and videos all over the web telling you in theory how to make money. It’s nothing compared to seeing someone actually trading in the markets with verified results. This will give you the conviction to start trading, something that most beginners struggle with, because they haven’t seen it in action.
4. Start As Small As $200
In order to invest in a big hedge fund you often have to have extremely large amounts of money, as some buy ins run into the millions of dollars. With social trading you can get all of the benefits of having someone else manage your money without having to have enormous amounts of money.
5. Your Only Job Is To Check The Results
If you don’t have time to put in the effort into researching trades and following the data, social trading is the tool for you. Best of all, you can easily keep your daily job and just review the results at the end of every day.
6. You Don’t Need An Expensive Trading Consultant
The social trading interfaces nearly always have a blog section, which means you can not only follow the trade history of a superstar trader. You can actually talk to the person as well. Ask them questions about trading. Follow their forex twitter accounts. It will give you the confidence that you know exactly what they are doing with your money.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Cryptoassets are highly volatile unregulated investment product. No EU investor protection.
This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. This is not investment advice.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.