When it comes to investing your hard earned cash you want to be sure that you choose a reliable and reputable platform. One that can be trusted with your money as well as offering great value. One such platform that is both trustworthy and low cost is eToro. They offer commission free trading (some exclusions apply) which we will look at below.
eToro is the world’s leading social trading platform with millions of users worldwide. They offer a multitude of options to trade and invest in stocks, ETFs, cryptocurrencies and CFDs. Alongside an intuitive trading platform packed with useful features.
What Can You Trade On eToro?
eToro offers such a wide range of trading options covering thousands of assets including;
- Stock trading across 17 of the world’s major stock markets.
- Cryptocurrencies including Bitcoin, Etherium and Cardano.
- Commodities such as oil, gas and precious metals.
- Currencies including US Dollar, Japanese Yen, British Pound Sterling and Euros.
- ETFs (Exchange Traded Funds) across a wide range of assets and markets
- Indices such as the S&P 500 or NASDAQ 100
eToro offer CFD (Contracts For Difference) Trading across all asset types allowing you to go both long or short. Many of the above asset classes can only be traded via CFDs such as commodities and currencies.
They offer commission free trading on most long stock trades. This can vary dependent on which country you reside in so check the eToro website for full eligibility.
One of the best things I like about eToro is the copy trading feature. View what other top traders are doing in real time and then automatically replicate their trades. This is equally beneficial to both beginners or more experienced traders. It cuts down a lot of time and effort learning and researching trades. And the really great thing about this amazing feature is that it is available to everybody at no extra cost. You can get started copy trading with a minimum of just $200.
There is a whole online community built around copy trading where you are able to interact with other traders. There is even the option to make your own trading profile public and allow others to copy trade you. For those that wish to do this there is a Popular Investor Program you can apply to join. If accepted, you will receive monthly earnings.
Getting Started With Commission Free Trading
It is easy to register for an account, simply complete the sign up form here, you can even sign up via your Facebook or Google accounts. You will be asked to provide ID during sign up in order to verify your account. Once complete you will be able to begin trading.
You can deposit money by a wide range of options including credit/debit card, bank transfer, PayPal Neteller, Skrill and more. Some of these options vary from country to country. The currency for all trading accounts is USD. Your currency will be converted to USD in your account when you deposit. Withdrawals can be made at any time and are paid by the same method that was used to deposit.
Most stock trades are traded commission free and are free of any other fees such as stamp duty. There are also no management fees. There is a small $5 fee per withdrawal, this is only a nominal cost which when combined with the cost savings received from there being no trading or management fees works out as excellent value compared to most other platforms.
For added peace of mind every eToro trader automatically has insurance from Lloyds of London of up to 1 million GBP, Euro or AUD depending on which region you reside in. This means your investments are covered in the unlikely event that eToro were to become insolvent.
There are also a wealth of features and a great educational section to help you learn how to trade and keep you informed including trading tutorials, podcasts and market news.
Should I use eToro Social Trading Platform?
All in all eToro is a great social trading platform for both new and experienced traders being easy to use. With worldwide availability, commission free trading, along with a wide range of assets to trade. This is combined with great educational tools, a helpful trading community and copy trading features. I highly recommend you try eToro for yourself.