A few years ago, certain activities, such as investing, were harder to execute. But nowadays, with the technological developments our society has been facing, these tasks are becoming easier and easier. Of course, it’s important to have a trusted and well-protected platform. therefore, you must do profound research to make sure that your financial data is well secured and managed.
There are many apps out there that can have a lot of benefits, but there are a few that completely stand out. When looking for a platform to invest you must make sure that this app has all the necessary tools. Consequently, it must be innovative, efficient, well-intended, and secured. It is evident that not all platforms will not tick all the boxes, but the ones that do can be a great asset to your financial management and investment.
Investing can be an activity with a lot of benefits, but it can also be slightly dangerous if the platform is not well secured. Besides, having a platform that also lets you understand the current volatility, and allows you to get an immediate hold of your assets, is very important. Therefore, pay a lot of attention when choosing the app, you will use for your financial activities.
As you can probably tell, investing has its risks, but it also has remarkable rewards that can completely change your financial status. Thereby, choosing an app that is being constantly updated with the newest technology and tools, that make the process of tracking your assets more manageable, is crucial.
So, if you’re looking for one of the best platforms to invest in, and manage your financial assets, then this article is perfect for you. It will give you a great insight into an incredible platform that might just be the key to your financial success.
Creating an account on eToro
If you’re looking for one of the best financial apps out there, then eToro is the perfect fit. This is an investment platform that lets you track your assets immediately. You can invest in cryptocurrencies, stocks, FT’s, and more. Throughout the years, eToro has gotten better and better. It is being constantly updated with the newest technology, and with tools that make this activity fluid, and efficient. Therefore, both beginners, and advanced investors, can use this platform. Thereby, it can fit the needs of people with different backgrounds, needs, goals, and knowledge.
To start using this financial application, you need to create an account. Etoro makes this process simple, and intuitive. Just follow the 3 simple steps.
- Firstly, you will have to go to the platforms website;
- Then, you must click on the button that says explicitly “Join Now”;
- After this, you will be asked to write down three pieces of information (username, email, and password), in order to create your account. Then, you will also have to agree to the platform´s “Terms and Conditions”;
After having executed these three steps, you will have created an account. Thereby, you will be able to log in, and access your dashboard, as you can see in the image.
After having created your account, it is important that you complete your profile. This will give the platform a good insight into your background, job, knowledge, and many more. Consequently, the platform will adapt its tools to your needs, and goals. Therefore, you will not only get a great app, with great tools, but you will also have it personalized in regards to your needs.
How to deposit money
When it comes to depositing your funds into the platform, it is very simple.
- Firstly, click on the button that explicitly says” deposit funds”;
- Then, you will simply have to choose the amount you want to deposit, its currency (GBP, AUD, USD, and EUR), the payment method, and of course your card information;
By the way, you can deposit money from any country, but there are only a few currencies that you can use. The highest quantity that you can deposit is $40,000.
How to withdraw money
Now, when it comes to the process of withdrawing money from the platform, it is also extremely simple, and intuitive.
- Firstly, you must select the button that explicitly says “withdraw funds”, that is just above the tab for depositing funds;
- Then, you must enter the quantity that you want to withdraw from the platform (keep in mind that the minimum quantity is $30);
- Then, you must fill in the blanks with some financial information;
- And then, finally, you must click on the button that explicitly says “submit”.
On this platform, you have many tools that help you with the process of investing, and managing your assets. You have your own “Watchlist”, which is a customized exchanging dashboard, in light of your inclinations and latest investments. It allows you to see the different business sectors you can put resources into, their development, it allows you to set value alarms, and some more.
You also have access to your own portfolio, which is an assortment of the multitude of actions you have executed. In this way, the monitorization of your exchanging actions, allows you to completely manage and control your resources. Therefore, in this space, you will be able to see everything related to your financial actions.
On eToro, you also have a discovery tab, which lets you explore various information and results related to sectors and activities that are not always related to your interests. Thereby, you have the ability to dive into areas in which you’ve never been before, which can spark new interests, goals, and more. So, as you can see eToro his also a great tool to explore new financial worlds.
What can you trade on eToro
A common issue that people seem to have with other platforms is that they only let you buy and vend a very limited amount of things, which makes its users stop using the app after a certain amount of time. But unlike other platforms, etoro lets you trade various things, such as cryptocurrencies, stocks ,EFT’s, commodities, and more.
For example, you can trade cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and others. Therefore, as you can see, this platform is also very much aligned with recent, and innovative currencies. As of the year 2021, the cryptocurrency that has been the most profitable is Bitcoin, followed by others such as Ethereum, Binance Coin, and others.
You can also buy and trade stocks, which can be a great way of investing. Besides, this platform also enables you to get ahold of the evolution of the markets you usually invest in. Therefore, you will be able to decide efficiently, the best moment to buy and vend stocks. Stocks that have stranded out in the year of 2021 on eToro have been from The Walt Disney Co., Boeing, Airbnb, Barclays, Microsoft, and others.
Therefore, as you can see, eToro has a very wide range of things that you can trade, which lets you not only invest in areas that you are knowledgeable in, but also allows you to dive into different areas and sectors that you haven’t tried before, which is a phenomenal advantage that not all platforms can provide.
Like many other platforms, eToro also has its costs. Although creating an account is completely free, you still have a few fees to pay for, when it comes to the various activities you can execute on the platform, such as:
- If the amount you deposit or withdraw is not in dollars, a fee will be respectively added;
- For each withdrawal request there is a fixed 5 dollar cost;
- The distinction between the costs of trading (sell and ask, plus bid and buy), is called the “spread”. Etoro forms their exchanging charges on the measure of spread;
- On eToro, there is something called an inactivity refund or fee, which is charged if you don’t log into your account for a year ( $10 per month after a year of inactivity);
- There is also a weekend fee that is added to positions on many commodities, and currencies that are held on Wednesday;
- Etoro adds overnight fees only on CFD exchanges. On certain non-leverage BUY positions, eToro doesn’t charge them, such as, for example, stocks and ETF´s.
eToro comunity and chat
By being a user of this incredible platform it is very important that you understand that etoro is a community full of people interested in financial activities that come from all over the world. Therefore, it not only serves as a phenomenal financial platform, but it also works how’s the well-oiled machine full of diversity.
Plus, there is a constant live chat happening where multiple users of the platform discuss their interests, goals, doubts, recent accomplishments, and many more. Consequently, by being a user of this platform you will be able to interact with other individuals, which will make you feel like a part of a community, full of people that share the same interests.
How to copy trades
A common question that people seem to have on various financial platforms is: Can you copy trades on eToro? In regards to this possibility copy trading on this platform is available, however, it is not completely free, of course. If you want to start copy trading all you have to do is:
- Search for great investors on the app;
- Choose one, or more;
- Then, give out a portion of your capital to the investor for imitating their copy trading;
After these steps, you´ll be fully able to copy the investor you have rewarded.
Pros and Cons
- It’s free to create an account on eToro;
- The platform is equipped with various efficient and innovative tools;
- The platform is protected with a very secure technology;
- It is an intuitive or user-friendly platform;
- It allows you to discover new markets;
- You are able to trade various things;
- You have a live chat constantly happening, which can be good for interacting with other users;
- You’re able to do copy trading.
- It has a couple of fees;
- The currencies available can be limited;
- Their services is not available in all 50 U.S. states;
In conclusion, there are a lot of investment apps out there, but eToro completely stands out. Therefore, you get a platform that has great tools that help you track your assets, and make investments, and many other things, as mentioned previously. Although you may have to pay some fees, the activity of investing has never been easier now that eToro is available. Unlike various platforms you are able to trade more than cryptocurrencies and stocks, you can trade, for example, EFT´s. Besides, if you are a beginner in the activity of investing, eToro allows you to copy the trades that other people make (but you must give out a portion of your capital to the investor, for copying their trading activity).
You can either be a beginner or an advanced investor, either way, this platform will customize itself to your interests, and goals. Therefore, if you ate looking a platform to start investing in, eToro might just be the perfect fit for you. It’s efficient, innovative, intuitive, secure, and well-equipped.
Try it out, you won’t regret it!