Six steps to start making money investing in etoro
Are you interested in jumping over the walls of trading castles and bypassing their exorbitant fees?!
Those fees charged by the old trading brokers.
So, follow this article to the end and get to know a social trading platform that takes 0% commission and shares only $10. It’s called etoro.
What is etoro?
It is a social trading platform, accessible through Facebook, launched in 2006, and has about twenty million users.
The platform has two features that have attracted a lot of customers:
- copy trader:
That is, you can copy the trading of special people by looking at their trading history, and following the method they follow.
- Popular investors:
It is a feature that rewards a monthly commission for the powerful investors of the platform,
who follow the advantage of copy trading in a smart way.
Before you start in etoro, know that your capital is included in the trading risk,
and the profit is offset by a loss, so it is better to participate with a small capital to limit the loss if any.
6 steps to start making money by investing in Etoro:
1– Open an etoro account:
Click Join Now, fill in the registration form. This requires some personal and contact details, as well as choosing a username and password.
2– Prove your identity through the “know your customer” KYC process:
First, to prove your identity, you will need to upload one of the following three items:
- State identity card
- driving license.
The identity document you have chosen must remain valid.
Second, to prove your residence address, you will need to upload one of the following:
- An account statement issued by your bank or credit card company.
- A utility bill issued by an electricity, water or gas company.
- Tax letter or invoice.
- A letter from your local municipality.
- Other documents are also accepted.
However, the proof of address document you hold must have been issued within the last three months.
Once you upload the two required documents. eToro can usually verify your identity almost instantly.
3– Funds Deposit:
Click the deposit money button, where you can only invest 10 dollars, but the best is to invest a minimum of 50 dollars,
and since the platform is American, the currency in it is the dollar, but you can invest in any currency you want.
4– Stock Search:
In the search process, just type in the name of the stock you want to invest in, and you will get many options as well.
5– Research and Analysis:
Before buying a stock, you should research and analyze this research process by following the latest news and not just accessing market data and cheap stocks.
6– Stock Purchase Order:
To load an order box for your chosen stock, click the (Trade) button, and depending on your financial goals,
eToro gives you many options when it comes to placing buy orders.
If you simply want to buy your chosen stock at the next best available price,
all you have to do is select your stake in the (amount) box and click (open a position(..
If the markets are closed, you will instead need to click (set order) and it will be executed when the markets reopen.
In conclusion, this does not mean that investing is very easy, and you can earn money quickly, but rather you enter the world of trading with only 10 dollars for American stocks without commission.
As for other deposits, a simple commission is charged, but the advantage of famous investors and earning money through it gives you a push forward to achieve a trading process.
Distinctive, opening the doors of the stock exchange through specific and calculated steps
that will bring you profit and limit your loss,
and always remember that through Etoro you can stop the loss if the trading community is foggy and the future expectations are uncertain.