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The stock market has been around for a long time, but it seems like these days, more and more people are becoming interested in investing. Whether that’s because it’s becoming easier to access with the use of apps or because of the success stories we see on social media, we couldn’t say; however, one thing that is obvious is how popular it has become. And for good reason. Investing and trading everything from cryptocurrency to stocks to even EFTs can be a great way to make money if you know what you’re doing. That’s where eToro comes into play: with an innovative, international platform, you can trade virtually all at the click of a button! If that sounds like your kind of thing, stick around. We’re going to break down the best benefits of using eToro and whether it is right for you!
Who Should Use eToro?
First thing first, it’s important to note who should use eToro. With popular trades such as stocks, crypto, and EFTs, eToro is the perfect place for people looking to invest in these types of investments.
While the platform does include other types of investments, the three most popular, and therefore possibly the ones with the most potential, are stocks, crypto, and EFTs.
There are also educational resources, making it more accessible for those new to the investing and trading world!
The Benefits of eToro
Every platform has its pros and cons; however, eToro has some of the greatest benefits out there that definitely separate it from other trading platforms.
It Is a Multi-Asset Platform
We already mentioned that eToro has multiple different types of investments, but that is one of its perks! Unlike platforms that are only for stocks or only for crypto, eToro allows you to experience multiple types all in one place with the need for multiple platforms. Whether you prefer stocks and have a curiosity about EFTs, you like crypto but are open to stocks, or you just like the idea of investing no matter what type it is, eToro has got you covered all in one place!
It Has Free Investment Insurance
There’s nothing worse than losing money on something you were banking on; however, there is something arguably worse: insolvency. If you’re unfamiliar with this word, insolvency is when a person or company cannot afford to pay their debt.
In the unlikely case of insolvency or misconduct (as defined in eToro’s policy), those who qualify are entitled to insurance for up to 1 Million euros or AUD.
To qualify for the free insurance, you must be a Platinum+ or Diamond Club customer with eToro.
This can be a game-changer for those who regularly invest large amounts of money, as it can give you peace of mind knowing eToro has got you covered!
You Can Practice Your Trading Skills
Everyone has heard the saying “practice makes perfect”, and that is definitely true for a place you plan to spend money. While other platforms may toss you into the lion’s den, eToro provides every account with $100,000 of virtual play money that you are able to practice trading with. This can especially help newcomers to the trading world, as it can allow them to measure their talent and determine where may be a good place for them to start.
While it may be tempting to just have fun with this play money and pretend-invest like crazy, we highly recommend using it as if it was your real money. This can be a real eye-opener about the strengths and weaknesses of your trading skills, and the overall benefits of this perk make it worthwhile to take it seriously as if it was your real money.
US Users Can Now Trade More Than Just Crypto
While US-based users have been able to trade crypto on the platform, they were limited to only crypto while the rest of the world had access to everything eToro has to offer. However, as of 2022, US-based users can now join the rest of the world in trading more than just crypto. US-based users can now expect the same things as the rest of the world within the platform.
Access to Social Trading
With over 30 million users from more than 100 countries, eToro is the largest platform of investors and traders in the world. With eToro, you can enjoy the News Feed, which acts similarly to social media as people can interact and make friends.
With so many users on the platform, there are also people-based portfolios. These are portfolios that investors or traders can join that are people or assets grouped together by a predetermined strategy or theme. With some Smart Portfolios even using algorithms, AI, and machine learning to gather crucial wisdom from the people involved, it is definitely a perk worth checking out!
To learn more about eToro and how you can sign up, visit eToro.com.
Warning: The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. It is only intended to provide education about the financial industry. The views reflected in the commentary are subject to change at any time without notice.
US Crypto Trading is offered via eToro USA. US Securities trading is offered via eToro USA Securities, Inc.(“The BD”), a broker dealer registered with the Securities and Exchange Commission (SEC). The US Broker Dealer is a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). eToro USA (NMLS ID: 1769299 ) is not a registered brokerdealer or FINRA member and your cryptocurrency holdings are not FDIC or SIPC insured. SuperShopDeals.com, not an affiliate of eToro USA Securities, Inc. or eToro USA LLC. SuperShopDeals.com is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.