As invested as people are in social media, how thrilled would you be if you came to know that there is a social media platform to make some good money on as well?
Yeah c’mon, I know you’d doubt me. But I am not talking about any shady backend way to make money, I am going to talk about Social Trading Platforms.
Welcome to eToro, the trading best friend you have been looking for.
And when it comes to Social Trading Platforms, you cannot doubt the credibility eToro.
If everything in the world can be made smart, efficient and easy thanks to technology, can trading not be? Investments and trading are something almost everyone wants to put their money in but hesitate only because it looks so twisted. How on earth would a regular person decode what trade analysis to follow, what stocks to invest in, where you put your bets on like that?
But eToro by making trading more user-friendly for over 6 million registered members from 140 different countries already, and having thousands of new accounts being opened each day, is the biggest Social Trading Platform in the world right now!
What Does Such A Social Trading Platform Do?
It pretty much works like social media- you see what makes one of your friend’s posts more popular than the rest and use that feedback on furthering your own social media visibility.
eToro helps you do that even better with their trademark CopyTrader feature, which enables users to automatically duplicate another trader’s portfolio and investment decisions hassle free. This means that users can “follow”, “communicate” and “copy” other users, as well as make their own CFD (contract for difference) trades on thousands of stocks, indices (such as Dow Jones, NASDAQ, FTSE), commodities, currencies, and ETFs.
Using user-generated content is completely secure platforms, social trading platforms like eToro are building bridges where someone with no experience but a lot of interest can learn from profiles of experienced peers and industry experts. And yes, eToro allows you to experiment with some amount of virtual money before you take the dip. It just doesn’t get more fool-proof than that.
eToro’s CopyTrader feature has shown an 80% success rate. It definitely depends on the user’s discretion whether or not he/she would like to follow the patterns of just one trader or more than one or if they are looking for long term benefits or short term to customize their own trading trades.
Who are these Investors whose Profiles I can Follow and Copy?
Look at this like picking up a few names from some music nerd’s playlist to include in your own, because you know that they have better taste in music-to-try. Similarly, eToro runs transparently allowing you to see what users are trading in, in real-time. Upon assessing the trader’s activities, portfolio and risk score, eToro members may choose to ‘copy’ a trader and this enables them to build a ‘people-based portfolio’.
Discuss, ask, share. Sharing ideas through a live news-feed help all kinds of users build profiles more confidently. The Popular Investor program rewards the most active successful traders in our community. Traders must have a completed profile, at least three months trading history, a risk profile of six or under before they can apply for the program, eToro will then make a decision on whether to approve them.
Users are only able to copy Popular Investors and so this provides greater transparency to members who prefer to copy on eToro.
Let’s Meet Jay.
With 85.35% profits over 12 months, his profile has been copied by 249 other users, Jay’s aka jaynemesis is one of eToro’s Popular Investors. At 28 years old, he is interested in Politics, Economics, Technology, and Gaming. A professional gamer at heart, he has begun to use his strategizing skills in the world of trading and been doing extremely well.
He prefers to trade in cryptocurrencies and tech stocks noting how eToro being a community driven platform and user-friendly interface really encourages him to diversify his trading profiles. When he began, BitCoin when was valued at $12 and now it is at $1250!
He says, “Despite denial I remain bullish on Bitcoin. The COIN ETF was the first of many, and although the commission voted against it on this occasion there are several more ETF’s ready to learn from this … the appeal of Bitcoin to countries facing high inflation, currency controls and corruption is only growing, as is the infrastructure surrounding the currency.”
As of now, the bitcoin ETF stands invalidated. But that has not challenged his growing interest in trading Ethereum, another Cryptocurrency. The top 100 financial institutions in the world are looking at using the Ethereum blockchain to create a global monetary settlement system.
Can you imagine the potential of trading in that? All this eToro brings within the comfort of just a few clicks.
If you are keen on making sound returns on social trading platforms, eToro is the way to go. Like Jay, you can use your skill set to diversify and maximize on social trading online, in a transparent, lucid and hassle-free way!