What tools does eToro include and how to take advantage of them

eToro is one of the few known brokers who offer an alternative to the typical MT4 platform, .It provides its traders with a complete suite of online trading solutions, giving the opportunity for its traders to invest according to their specific needs.

These platforms are:

• eToro's unique online WebTrader can be used anywhere, without downloading the eToro's desktop trading

• eToro's Mobile Trader, a platform available on mobile devices for those multi-tasking traders who want to keep track of their accounts in real time.

• eToro's OpenBook, eToro's social platform and one of its most innovating platforms, allowing newcomers and regular traders to search the best traders, copy their investments and earn profits from them.

eToro's unique social network gives the opportunity to new users and people with limited knowledge or experience of financial markets.This allows them to follow market analysis done by experienced traders, or just copy their trade positions. In shorter terms, eToro's social trading network lets its users find and copy trading positions from experienced traders.

This amazing process is available to eToro's CopyTrader tool, a system that enables you to copy other investors automatically and manage your copy trading activity in the same way you would handle investments in any different market. It is as simple as finding the perfect investor you want to copy, deciding if you wish to copy the investor's already open trades, and clicking the Copy button.

After you automatically copy every trading action made by the copied investor of your choice, including opening new trades, and every time he stops and closes positions. Although you are copying every economic activity, you retain control of your funds, as you can change the allocation amounts to each trader or close the CopyTrader relationship altogether whenever you see fit.

eToro's social network is composed of over 3 million investors, so it might be hard for some traders to find the investors that are good for them, luckily, eToro's release d the People Discovery tool, a simple search mechanism that makes it easy to find traders according to your specific needs, just by selecting various parameter settings and instantly get a list of all the traders that match your criteria for you to follow or copy. You can even save your search results or share it with the rest of the eToro OpenBook community.

There is also a widget, found in the "trading Tools" section of the eToro WebTrader, called Top Traders' Insights, where it collects data from its top 1,000 most profitable traders to give an insight into which markets they're investing. It displays the top 10 most traded instruments, along with a breakdown into buying and sell positions, giving an overall measurement of the sentiment among its most successful investors.

For those who are starting to trade and aren't convinced with OpenBook and all eToro's tools, eToro also offers a "Trading Academy" with webinars, education centre, an eCourse, trading tips and leverage and margin tools.

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How to invest and trade efficiently with eToro

eToro is more than an online broker. It is a robust web of social investment, which can be used to select thousands of experienced investors around the world and copy their operations. This way, users can make use of the talent and experience of the best traders and get assistance from them, and at the same time, learn to invest in the stock market by analysing their operations.

Some users like to invest by buying something that will economically benefit them in a long-term future.Others prefer to speculate in the stock market, which is buying a good stock and hoping its price will go up shortly so they can sell it and get its benefits earlier.

After signing up for eToro.com and making your first deposit (The minimum deposit is $200), it is recommended to spend $100 to copy someone. A good thing to point out is, try to avoid searching for the 'most copied' and blindly copy the top results. If  a few people copy a trader for the wrong reasons, that trader can quickly 'go viral'.

Once you find a trader who you feel is reliable, open their profile and click onto the blue 'copy' button. Enter an amount with which to copy that trader, and some useful information will appear (Like copying open trades, the average copied trade size depends on the amount you're spending and, stop copying if losses exceed "x" amount).

If you copy a trader with $100, then the "Average copied trade size" leads to how the copying works in real dollar terms. For example, if you send $100 and the average copied trade size shows $2.28, each trade you copy would be $2.28, just 2.28% of the total ($2.28 out of the $100) of your total investment.

In the portfolio tab, you will be able to see your open trades, the actual trading area. Here you have access to all your current open positions (and can close them) and can keep track of your record of trading history.
Once you have enough experience trading with eToro and have received some benefits from copying other traders, you might want to start thinking about making your own trades.

Even though you'll need to work a bit harder and do your own research, you don't need to be a financial genius with decades of experience to make money trading yourself.

After researching and picking stocks or companies you believe are in a healthy and robust position to resist market shocks and therefore want to invest in, you canclick on 'Trade Markets', then 'Stocks', then 'Industry'. Choose an industry, and you will then, be presented with a list of all consumer goods stocks tradable on eToro, along with their respective prices.

After you have chosen a stock to invest in, click on the 'Trade' button in the top right corner, enter the amount and click 'Set Order'. And remember to check the portfolio tab to see your open positions.

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