Trading is one of the most exciting things to do with money and it can make you even more money than you anticipated. Experienced traders can make an awful lot of money from trading big but then the same can be done by beginners once they get the hang of things. There are many different websites out there that can help beginners start trading. However, one of the best is eToro.
With lots of competition, what makes eToro standout amongst the crowd and attract many people to invest with eToro? In this eToro review it will highlight if as a beginner you should use the company.
Table of Contents
What is eToro?
eToro is a multi-asset investment company that was founded in 2007 and focuses on providing financial and copy trading services. It has over 3,000 tradeable symbols, including CFDs, forex, and exchange-traded securities, and it offers a comprehensive trading experience for people of any experience.
With a small deposit limit of just $10 you can start trading straight away. However, that is not to say you cannot start depositing bigger than that if you really wanted to get your teeth into it as you can start off by depositing $200.
What makes eToro different?
eToro is different to other companies because it is able to offer a more bespoke service and guarantees excellent results; if done right. With many users trusting the website after seeing it sponsor many football teams across the world, people know it is a reputable name. This reputation does not end at seeing the name around but in fact in a recent survey the company scored a 91/100 trust score.
With the ability to trade CFDs as well as Crypto currency, eToro is a great tool for switching between the two when the user sees fit. The design is so simple and effective that beginners can start using the website quickly and adapt to its interface with minimal ease. In fact the design of the website helped eToro rank Best in the Class in the Ease of Use and Beginners categories in 2022.
Many other features such as the Twitter style news feed wall, offering videos with advice, the app following much of the simplicity of the website and news features such as calendars, projections and podcasts.
Even though it costs more money in commission, eToro also offers a VIP experience for its users. This is aimed at people who earn more money. The VIP packages attract people to stay with the website longer after their beginner’s user stage.
Should a beginner use the eToro?
100%. If somebody wants to start using a trading website and is unsure of how to play the game of trading because there is no guarantees of making money, eToro is the best place to start. The support and information available will help a person along with their journey of trading and hopefully make them some valuable money along the way.
The simplicity of the website sets it apart for beginners and there is not too many complications unlike other trading websites.