Etoro webtrader download
Social Trading is a totally new way of trading on the Forex that uses the sharing of information and knowledge between different investors on a single trading platform. Launched not long ago originally by the broker eToro , the idea has been adopted by other brokers and attracts increasing numbers of traders who seek to make profits on the Forex without having to spend much time on their investments or learn to complete analyses or even trade in a straightforward manner.
Social Trading as we know it today could not have existed without the introduction and development of the online trading platforms. In fact, although the Internet is used by us to complete financial transactions, it can also be used to find useful information relating to our investments, particularly through the exchange of information with other traders on forums or social networks online.
Social trading was born from the idea of combining these two components in one single space. Basically, by giving traders the opportunity to advise each other and exchange tips directly on their investment trading platform. However, social trading goes even further as it enables you to follow the positions of other traders on the platform and copy the positions of the best of them and thereby benefit from the same level of profits as well as experience their losses.
Of course, for social trading to become an essential tool for Forex traders , a simple and ergonomic solution was required that could be used by all traders.
Let us explain how social trading works:. For the others the principle is therefore to be able to consult the performance of the best traders. However the functions offered by the brokers for social trading do not stop there. In fact, apart from simply consulting the results of the best performing traders, it is also possible to follow one or even several individual leaders and even automatically copy all their positions.
Social Trading and the opportunity it offers to follow and copy the best traders offers a number of undeniable advantages, here are the major ones:. On the foreign exchange market, profitable strategies are unfortunately much rarer than losing strategies.
To consistently earn money on the Forex requires a certain experience of the market together with a solid trading knowledge. Due to these influential factors, it is often very difficult to generate a benefit quickly when starting to trade and it can even take months, or years, before becoming highly efficient at short term investments.
This is why it can be very beneficial for beginner traders to follow the trades from the best traders. By observing the way in which these traders invest over a given period, it becomes easier to understand the logic of their Forex investments. As indicated by its name the latter enables you to copy the traders that you choose. Basically, this social trading software enables you to initially obtain a list of the best traders on the platform with, for each of them, the details of positions taken and the profits achieved.
Using this list you can simply choose to observe these traders and even ask them questions so you can learn and thereby implement winning strategies using similar analyses, or directly copy their trades using CopyTrader. CopyTrader enables you to copy several traders at the same time. Your positions will be taken automatically and in proportion to those of the traders that you have decided to copy.
Of course, the amount invested on each trader will also be in proportion to your total investment capital available. For the first, the fact of copying the best traders enables them, right from the beginning of their online trading experience, to make profits without any prior knowledge of the markets. While your trades are being automatically completed you can take the time to study the technical and fundamental analyses and learn about the strategies implemented by these experienced traders.
For the second, the CopyTrader function enables them to cover certain possible loss risks through the guarantee of some profitable trades which thereby leaves a margin for manoeuvrability and error. Social Trading through eToro in fact offers other functions with for example the opportunity to chat with other traders including those you are following. Do not hesitate therefore to be curious and ask their reasons for taking a particular position.
You can also exchange your opinions with other platform users with the objective of increasing your knowledge. But where and how is this social trading practised? There are various ways in which you can follow the performance of other traders. We have chosen to present to you just a small number of Forex Broker reviews on this website, for we are firm believers in quality over quantity, and as such one first class and top rated Forex Broker that is going to offer you everything you are looking for is eToro.
Having been established back in they quickly established themselves as one of the more dependable Brokers who offer traders several different forex trading platforms on which you can place a huge number of currency pairings. Please take a few minutes to read through this review of eToro for when you do you will discover why we have chosen to list them as one of our approved and higher rated Forex Brokers.
One thing that will soon become apparent to you when you start trading at eToro is just how large their site is, they offer millions of customers based in different countries the ability to sign up and place currency parings instantly and in real time. Being available to traders from many different o countries of the world, one thing that eToro has achieved is to get trading license in many different countries, and as such they are a highly regulated company that always adhere to the highest of industry standards.
Below you will find information on each of the regulatory bodies which have granted eToro with a trading license. Cyprus Securities and Exchange Commission — Having been granted a license to operate by the one of the most stringent licensing authorities that being the Cyprus Securities and Exchange Commission, all European based Forex traders are going to find eToro adhere to the highest of industry standards.
Financial Conduct Authority — UK based Forex traders will be happy to learn that the Financial Conduct Authority has also granted eToro a license to offer their services to traders based anywhere in Great Britain. Australian Securities and Investments Commission — If you are based in Australia then you will be pleased to learn that eToro has also acquired a license from the Australian Securities and Investments Commission which adds another level of security to your trading funds.
Commodity Futures Trading Commission — One final licensing issuer that eToro is licensed by is the Commodity Futures Trading Commission, however please be aware that US based Forex traders are not currently permitted to utilize the services offered by eToro, however if that situation changes in the very near future we will of course keep you fully updated. One important aspect you need to keep in mind when looking for a new Forex Broker at which to start trading at, is just how many trading platforms each Broker has on offer.
You will find three different Forex trading platforms available at eToro and below is an overview of each of those platforms. The EToro WebTrader platform is a state of the art platform offering traders lots of option settings. The broker offers their clients with 4 types of trading account to trade on. They generally vary in the minimum deposit required by the broker.
Unlike most of the Forex brokers, eToro never charges commissions on trades performed by the traders. Instead of this, they charge minimally them like spread of 2 pips onwards. Additionally they do not charge any fees for rollover trades which are unclosed overnight.