Whether you’re new to social trading or you’re looking for a better trading platform to use, then you may have considered using eToro. This is a tool used for Forex trading that will make trades on your behalf. Let’s find out if this platform is better and, most importantly, will you make money with eToro in this eToro review.
What Is eToro?
Considered as a social trading platform that allows you to interact with other traders and users, eToro also assists you in making smart and efficient trades in the Forex market. Think of eToro as a broker that will execute trades for their clients in a variety of financial markets.
Follow Successful Traders
This platform also lets you follow successful traders and check out their portfolios. You also get a chance to execute similar trades from your account. This feature beats studying trades or making mistakes along the way. The copy trading feature is very popular, and in fact, this is one of the features that users love to use.
How Do You Make Money On eToro?
The eToro dashboard allows you to see different markets to trade with, like currencies and commodities. All you need to do is to select the market you want to trade-in. You will also see cryptocurrencies like Bitcoin. The markets offered to you will depend on your location.
You must deposit funds before you can start to trade and buy or sell anything. To trade on individual markets, you can easily see what people or other traders are saying about the market in real-time.
Is This Platform A Scam?
With so many pleased and happy users, thinking that there is an eToro scam is complete nonsense. Many are satisfied with the way their trades are going, especially when it comes to copying deals of successful traders. With this platform, you can copy as many successful trades as you want and make money quickly.
Can You Really Make Money Using eToro?
Just like other trading platforms, you can make money if you put your full time and effort into your trades. There are good trades and bad trades too; even successful traders have losses also, and in fact, even eToro warns that 66% of traders have lost their money.
The key is to find consistent successful trades and don’t rely on just a few. eToro can make you money, but you still need to do your research to find useful and profitable markets as well.