Check Out These Pros & Cons of eToro!
If you are into trading, you may have already heard about eToro among traders or have read an online eToro review. eToro is a social trading brokerage company that serves as a platform for financial and copy trading services.
Is eToro Legit Or A Scam?
You can never say that this platform is an eToro scam since your investment can earn. You will even find positive eToro reviews online. However, just like any trading business, there is always the risk of losing money. You only have to determine how big your risk appetite is.
Will I Earn More With Copy Trading?
eToro is known for its copy trades, wherein you have to look and find for possible traders to duplicate. Whatever happens to the trading activities of your selected traders will be copied to your account. It is suitable for those who do not have the time nor patience to study the numbers and statistics of trading. Further, it is advisable to choose more than one trader so as not to put all your eggs in just one basket.
Pros Of eToro
1. User-Friendly Platform
eToro has a decent and easy-to-use trading platform. You can easily navigate and click through its dashboard for any information you need. The platform will also give stock suggestions, which is ideal for beginners.
2. Very Good Social And Copy Trading
You can easily see the trading background of every trader available in eToro, which can be your basis on whom to copy. If you have already seen a trader you like, hit the button, and your copy trading starts immediately.
3. Easy To Deposit And Withdraw
Depositing money for an investment is accessible with just one click of the button, and the rest will be done for you. If you want to close your account, you won’t find it hard to withdraw all your money from them.
Cons Of eToro
1. Poor Quality Of Traders
You may find their pool of traders not as remarkable as they claim them to be. You will find traders who may be losing or just earning a little.
2. High Margins
The margin of investment in this trading platform is quite high, thus resulting in higher risks. It is not ideal for conservative investors.
Remember that there are always opportunities and risks in any investment and trading business. It is prudent to consult with financial advisors who have a deep background on trading before cashing-out any money.