eToro Review 2020:What’s Available for Traders in the United States?
eToro has been in business since 2007, offering an effortless trading experience across a wide range of markets. Despite its long history in the space, eToro only entered the US market in 2018. Today, it offers a more comprehensive feature set than much of the competition.
Let’s take a closer look at what you can expect from eToro going into 2020.
Why Choose eToro?
eToro allows you to trade on cryptocurrencies directly, with their dedicated Wallet providing traders with a place to store a wide variety of crypto options (from Bitcoin to Litecoin).
Through eToro’s safe and secure platform, buying and selling cryptocurrencies is a simple, hassle-free process.
Incorporating social media and social trading strategies (more on this later), eToro has created a community of traders. eToro’s interface is easy to navigate on desktop and mobile devices, so joining this community is simple and quick, wherever you are.
Simply put, if you want a single platform that gives you access to a diverse array of coins, with minimal upkeep and hassle, choose eToro. Here are the site’s most noteworthy features:
CopyTrader™ allows users to automatically mimic the trades of experienced users. Let’s say you’re just getting into the world of cryptocurrencies, but don’t yet know enough to capitalize on the latest news or technology. You can find a trader whom you admire (perhaps you like their strategy or their rate of return, for instance), and then you can “Copy” them simply by hitting the Copy button. This prompts you to allocate some of your funds to making all the same moves the trader does. Select how much money you want to put toward copying the trader, and that’s it! You can copy up to 100 traders at a time, allowing you to capitalize on a wide variety of strategies implemented by a range of experts.
An Effortless Introduction to Cryptocurrencies
One of the most interesting aspects of eToro is just how simple they’ve made the otherwise cumbersome process of crypto trading.
With eToro and their dedicated eToro Wallet, you can simply buy and sell your positions instantly and store them within eToro’s secure platform. Having this functionality built in to their platform, eToro has ensured that traders do not need to go between separate wallets to successfully trade.
Here is eToro’s curated crypto selection:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Dash (DASH)
- Litecoin (LTC)
- Ethereum Classic (ETC)
- Cardano (ADA)
- IOTA (MIOTA)
- Stellar Lumens (XLM)
- EOS (EOS)
- NEO (NEO)
- TRON (TRX)
- ZCash (ZEC)
- Tezos (XTZ)
A Vibrant Social Media Community
eToro is also a great place for active traders, even those who don’t use the CopyTrader™ functionality. You can use various social media tools to discuss trades and strategies before you take a risk. You can also look at literally millions of trader profiles, observing risk scores, performance statistics, and portfolio history. eToro has clearly made an effort here to cultivate a community of traders within their platform.
Whether you take part in the constant financial conversation, or simply read and learn from the best traders on the site, eToro has a vibrant community that you’re going to want to be a part of.
Regulation and User Security
eToro prides itself on providing a safe and secure platform for its users, ensuring that its product is fully regulated. eToro’s US platform is registered with the Financial Crimes Enforcement Network (FinCEN). Where real money trading is concerned, eToro has rolled out its services to almost every US state, showing its commitment to implementing its US platform. In an industry where security and regulation is paramount, eToro has ensured their platform covers all bases.
eToro’s Popular Investor Program
Popular Investors are traders who have been vetted by eToro and approved for copying in the CopyTrader™ program. They choose these Popular Traders from their own user base — so you, too, could be a Popular Investor one day.
If you’re selected into the Popular Investor’s program, you’ll have the opportunity to make money in addition to your portfolio returns. Every time someone copies your portfolio, you get paid. You’ll also receive bonuses every time your Popular Trader portfolio advances in the CopyTrader™ standings.
These funds will be added to your account as cash each month, where you can send them over to your bank account.
A Seamless User Experience, Whether on Desktop or Mobile
One of our favorite aspects of the eToro experience is how perfectly the platform functions on both desktop and mobile devices. Oftentimes, with trading platforms, the app experience is a dumbed-down version of the desktop platform. This is not the case with eToro. The platform’s functionality is simple enough in itself so that it lives and performs happily on your phone, with no features lost from the desktop version.
Conclusion: eToro is Perfect for All Kinds of Traders
The team behind eToro has found the simplest formula for traders to do what they do best, without all of the complicated bells and whistles that so often bog down digital brokers. Through features such as CopyTrader™ and their Popular Investor Program, eToro is innovating in spaces that other platforms have yet to fully capitalize on.
eToro’s platform is ready for any trader interested in crypto markets; however, eToro has yet to incorporate a full set of trading features for forex and stock/share investment into its US platform. If you’re looking to focus solely on crypto coins, eToro is a solid option for any trader, but you may have to wait longer to access other markets in the US.
So, whether you’re an experienced trader who wants access to cryptocurrencies on a single platform or a brand new trader who wants to use an intuitive interface to learn the ropes, eToro has what you’re looking for. It’s a mobile, social, modern trading platform with a reassuringly high level of regulation and security.
For the eToro non US trading platform please visit https://www.etoro.com/