If you do not live in some lost cabin in the woods, you probably have heard of eToro before, possibly from some advertisement on YouTube. But what is eToro? What is it that it does exactly? Let’s find it out in our eToro review.
The eToro platform is becoming more and more popular these days and the reason for that is that it represents a truly innovative service, which allows you to easily operate on the trade market and keep all your options under control. On eToro you can trade with currencies, forex, stock options, and commodities. This operator is specifically designed to make things as easy as possible for beginners, who can invest relatively safely even despite their lack of experience; but it is also appealing for more experienced users. In this short eToro review we will focus on the features that are most appealing for beginners. If you wish to know further, here is a more in-depth eToro review.
How does it work?
The portal works on a particular platform, not very different from a social network, which they call “OpenBook”. What it does, prevalently, is to allow less experienced traders (through a specific section), to be able to “copy” what experienced traders do. Therefore, it’s like having a social network connecting you with some sort of tutor, whom you can follow in order to learn how to move across the different markets and learn how to lower the odds of losing capital.
This is possible thanks to a service called “CopyTrader“, which allows experienced traders to share useful information to make it easier for beginners to understand this world. In addition, eToro provides the users with analysis and news coming from the markets. Along with the OpenBook platform, which we have just talked about, eToro offers two other platforms, called WebTrader and MobileTrader.
WebTrader is a very interesting service that allows investors to operate from anywhere in the world that is reached by an internet connection, from their computers. MobileTrider is pretty much the same service but designed to be accessed from mobile devices. What you have to do is simply connect to one of these eToro interfaces, which both are very intuitive and simple to use. Making everything visually easy to understand and intuitive to use was a cardinal point for eToro designers, in order to make things as easy as possible for those who are entering this new and fascinating world for the first time. For the same reason, attention to detail is a hallmark of this portal.
Within the WebTrader platform, it is also possible to access a very special section where, in case of need, users can directly ask for help. There is an online chat that offers the possibility to exchange advice, ask for help, and discuss trading opinions with all the other traders who are online. This is a very useful feature for beginners, and it is one more example of why this portal is specifically designed for them.
If you have read so far, you have probably understood that what eToro really does is not just let you operate on the trade markets, but provide useful tips in all the possible ways: following experts, reading analysis and news, and debating with other traders.