Setting up investment in stocks is one of the best ways for you to grow your money with little effort. According to expert investors in the market, the stocks are excellent investments despite some period of market volatility. Remember, if the stock market goes down for a period of time, that means that a ton of stocks is dropping their prices, making it very affordable to the investors.
One of the recommended ways for newbies in trading to get started to invest in stocks is to simply put some funds in an online account for investment. The money then will be utilized to buy a share of stocks or some mutual funds. As of this moment, there are a lot of online brokers and apps to select from for you to start your investment. You can start investing in a minimal amount or the price of a single share. If you are a first-time investor, you might have some worries since you don’t understand yet the process and how the business goes. However, investing money online in stocks or doing trading online is not as hard as you think. Here’s a review of stock trading on etoro, making it simpler for you to make money online with little to no experience at all.
EToro is best for:
- Cryptocurrency like bitcoin, Ethereum trading.
- Copy trade, social trade, and more
Review of Stock Trading on Etoro FAQ:
- How much do I Need to Start Trading? – Your account minimum purchase can be 50$, but if you want to use the eToro Copy Trader, it’s 200$.
- Is there a minimum amount I can use for trade – The minimum trade for stocks in Etoro is 25$.
- How about trading fees? – There are some trading fees to consider, though the fees may vary by cryptocurrency it ranges from .75% to 2.9%. You can check with your cryptocurrency provider for the updated fees.
- Will my EToro Account Incur some fees? – Yes there will be some, for cryptocurrency to cryptocurrency conversion, there’s a 0.1% fee. For Crypto to fiat currency conversion, it is 5%.
- What are the tradable securities? – It’s only cryptocurrency and there are 15 cryptocurrencies available.
- Will I have a Digital Wallet? – Definitely, you will have a digital wallet.
- Can I still invest if I don’t have many funds? Is it advisable to only be at a minimum? –There’s actually several challenges in putting a small sum of money as investments but the best news for you is these challenges can be easily defeated. The first issue you may encounter is the minimum requirement for investment and the next will be it can be challenging to diversify the low money, how you can spread it. Since the fewer funds you have, the more difficult it is to spread and grow. The answer to this problem is to invest in stock index and ETFs simultaneously. You can also use CopyTrading, and you’ll see that many successful investors also started in the minimum funds and were able to grow their money overtime.
EToro best feature that you must know.
Social trading or the EToro’s copy trader enables you to replicate and automatically trade based on the moves or decisions made by other traders. You can copy the trading strategy of the best investors in the market, thus there’s no need for you to study more about trading. This is what we mentioned earlier that you can do stock trading with little to no experience at all. The best thing is, you’ll have a glance at how they are doing with trading so you can passively increase your money without breaking a sweat.
How does it work?
You have to simply select an investor you want to replicate or copy, then in just one click, you have the ability to mirror their position right away. You also have the option to set an auto stop-loss level, this will help you limit or prevent potential losses. As we also discussed earlier in the FAQ, if you want to use this feature, the minimum amount to mirror a user is 200$ and the ceiling is half a million dollars.
Copy trader also gives you the ability to simultaneously copy or mirror up to 100 investors’ profiles all at the same time. This feature will make trading and stocks easy for you, but even without CopyTrader, if you are stock trading with eToro, you can still view and check millions of other traders’ profiles online. You can then study their portfolio on your own together with their current stats and even risk scores. One thing to bear in mind is the copy trader feature has some location limitations like if you are from the U.S, you can only mirror the profiles of those investors who are from the same country.