Introduction
eToro is one of the world's largest and most inventive trading platforms, and it operates in Australia under the AFSL license number 491139. Clients have access to a variety of financial instruments, including US stocks, CFDs, and exchange markets. This article will provide you with an etoro Australia review, and we will also be talking about its copy trading platform. If all of this sounds interesting, let's have a look at it.
Reviews on eToro Australia
Talking about eToro, let us have a look at its general figures and information. The account currency they suggest is the US dollar, and most trading platforms use the USD. The minimum deposit required here at eToro is just $50, which is less as compared to other platforms, and we can count it as a huge advantage. The leverage they provide is 1:1-1:30 and spreads from 0.1 pips. The instruments they use include Currencies, CFDs, stocks and cryptocurrencies. Talking about more of eToro's advantages, we cannot forget to mention its extremely user-friendly interface, which turns out to be a great help for beginners. They don't demand any commission on the trading stock.
Moreover, they provide a $100,000 demo account for beginners, which are highly appreciative. On the flip side, eToro only deals on limited cryptocurrencies. Also, they demand a currency conversion fee.
Copy-trading on eToro
First, we need to mention that there are not a lot of people that are familiar with the term copy trading. In some cases, if people are aware of the term, they do not know how to copy trade on eToro. All of this is quite understandable as it's not something that is taught in schools and different kinds of institutions. Nonetheless, you should not worry at all as we are here to help.
What is Copy Trading?
Copy trading is one of the most common methods of cooperative investment in the financial markets today. It allows less-experienced network members to subscribe to skilled traders' trading signals. When you subscribe to a trader, all trades and orders on the trader's (manager's) trading account are transferred to the copier's account at a predetermined ratio.
How to approach copy trading on eToro?
The copy trading platform at eToro Australia is quite well-developed. It also works with demo accounts, so you can spend the fake $100,000 you get when you sign up before you have to deposit any real money. The copy trading tools on eToro are essentially a little social network in and of themselves. You have a clean feed in the middle and a dashboard with several areas on the left, where you may use the "Copy People" tool to locate new traders, among other things. Importantly, there is significantly less room for fraud on this platform than on others. On their profiles, all traders have authentic photographs as well as their full names. Each trader shares market news, their own news, and-on rare occasions-personal content. There are also options to comment, share, and like. Most significantly, you can check each trader's trading performance on their profile via detailed statistics and graphs.
