Hi everyone,

How does eToro copy trading work? I’m looking for someone to explain the actual steps and any tips for choosing traders.

I don’t want to put a lot of capital in but want to give it a try and see if it’s all hype or there are some good ones out there. Also if people don’t think eToro is the platform to use can they suggest a better one.

Thanks in advance.

DooT

 

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[Christian HarrisParticipant]

Hi DooT.

eToro has been in operation since 2007 and has built a strong reputation in the industry. It also has a massive user base.

Regarding safety, the company is regulated by several reputable financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Europe.

I’ve found eToro to be one of the best options regarding copy trading. I’ve used eToro for around five years. I’ve also used other popular forex and crypto trading copy services, but eToro is the only one that has consistently made me money in the long term—and without the added stress of huge drawdowns (eToro’s risk score is a great indication of a provider’s volatility).

The ‘difficulty’ comes with picking the investor to copy trade. There are hundreds of options, so you must choose one that aligns with your expectations. For example, do you like steady ‘green’ months regardless of low ROI percentages or want higher returns with higher risks? Do you plan to invest for decades, or do you want to make a quick profit in under a year? That’s a personal choice only you can make.

But to answer your question, I believe eToro is the safest copy trading platform, and you can certainly make money if you invest realistically.

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[James BarraModerator DayTrading.com Team]

Hi DooT,

Just to add to Christian’s helpful summary, you can read our full review of eToro here. If you navigate to ‘Platforms & Tools’ you will find an overview of the copy trading solution, including tips for managing risk.

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[Olsoph]

I’ve used a load of them and eToro is one of the better ones but the real question is; why not just put your money in a fund?

From what I have seen no many traders outperform ETFs over the long run anyhows.

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[DayOfTheTrade]

Hi everyone,

Thank you for your replies, very insightful. It’s good to hear that eToro is a trading platform that I can trust and that people have had positive experiences. I’m certainly more interested in shorter timespans of up to a few months rather than decades but I’ll make use of the risk indicator.

I’ll try and remember to post updates in here so people know how I get on.

DooT

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