An innovative platform we heard so much about
eToro is a trading platform that I casually found: an expert trader in the sector mentioned it to me to a meeting, teasing my curiosity and talking about it in a positive way. I felt the need to try it and then say my opinion: here we are, after a test of about 3 weeks. I have to admit that I discovered an innovative tool, new in the world of online platforms: eToro is the first platform that offers « social » trading.
Don’t you know what we’re talking about? I’ll explain you quickly what social trading is all about.
eToro, through a social platform like the ones you’re used to (Facebook, Twitter, Wiki …? I know you know them) connects hundreds of traders from all over the world, allowing them to discuss strategies or profitable investments, and promoting the exchange of valuable information from user to user. The revenue? Substantial profits thanks to the collective experience.
So it’s just a social? No, the real news of the platform is to allow users to analyze the « chronology » of the moves of other members: you can analyze the moves of other traders, study their investments, check the portfolios of the most famous traders but, above all, you can copy them.
Here’s the news: the introduction of the « CopyTrader ™ » function, with which you can perfectly copy the movements of another trader’s wallet: the investments of the « lazy » ones (or inexperienced) who use CopyTrader, will automatically follow those of the trader chosen to be copied, step by step, gain after gain. At this point – obviously – it’s up to you to choose the user with the best strategies and, with almost 5 million subscribers, the choice is very wide.
Personally, I was very amazed by this feature. I immediately went to peek expert traders that I know, to analyze their strategies and evaluate whether to copy them or not. I must say that at the beginning I was very doubtful about the privacy factor: every investment made is public and can be copied. It is beneficial to others, but I did not know whether to accept it. However, by imitating the most experienced, all users are able to get a good profit.
Operating in full autonomy – yes, it is possible, let’s not forget that eToro is a broker platform on the same line as the others – you immediately notice that the interface is simple and intuitive, it takes very little to become familiar.
My goal for now is to become a Popular Investors, one of the most important and most followed members of this social trading platform. Certainly this competition pushes you to improve.
A positive note of eToro is also its reliability: not only is the platform easy to use, but it also has a strict regulation and constant control of the developers. The social sector itself is a very informal and friendly environment, full of interesting and expert personalities, and moderated with criteria: I found it a very pleasant social environment. It is also possible to discuss in real time the market trend and the best strategies, thanks to the purely communicative functions developed by the platform to facilitate interactions between traders.
The overall judgment on this platform is definitely positive. Today I choose the eToro broker platform.