Welcome to our etoro review 2020! Maybe you heard about the platform from friends or our eToro review 2020 and want to try it out? We will then give you all the help you need to make your first steps on eToro as pleasant as possible.
We explain below in our etoro review how you can register with eToro, create an eToro real money account, use the demo account, open a trading position and of course trade cryptocurrencies.
etoro review: Table of Contents
- Register on eToro
- Create an account with real money on eToro
- Make deposits at eToro
- Verify account on eToro
- Use the demo account on eToro
- Take a trading position on eToro
- Explore the different markets on eToro
- Trade cryptocurrencies on eToro
Registering on eToro – How it works!
In this section of the etoro notice, we detail the registration procedure.
1. Once you click on register you should land on the next page, where you enter your first and last name, username, email address, password and a phone number. Also, don’t forget to read the Terms of Use, Risk Statement, Privacy and Cookies Policy and confirm by ticking both boxes.
2. Once you have completed the registration form and clicked on “Create an account”, you will automatically receive a confirmation email. This automated response will be sent to the email address you provided in the form and will include a request to verify your email address. It is necessary for a successful registration to follow this request.
3. Once you have clicked the button to verify your email address, you should be automatically redirected to your personal eToro dashboard. If this automatic redirection does not take place, please copy the link from the confirmation email (highlighted in blue) into the address line of your Internet browser. At the latest, the verification should be completed and you should end up on the next page.
As further confirmation of your successful registration on eToro, you should find another welcome email in your mailbox with some useful tips for newcomers.
If you want to complete your profile directly to be able to make deposits on eToro, we will explain the procedure to you in the next chapter. If you want to test the platform first, you can skip the next chapter and go directly to the usage notice for your demo account.
etoro review: Create an account with real money on eToro
To make a deposit on eToro, you must first complete your profile. We explain in this part of our etoro review, how to do it. To complete your profile, simply click on the blue “Edit” button in the upper left corner of your avatar image.
As soon as you click on the edit button, a mask opens, asking you to create a profile. Only after creating your personal profile will you be able to deposit money into your eToro account. Please follow the prompt and click “Continue”.
You will be prompted for the following information step by step, the whole process should take no more than 5-10 minutes.
In doing so, eToro asks these sometimes detailed questions because it is obligated to ensure that its clients are investing within their means and therefore know what they are doing by training in trading.
- surname, first name, sex and date of birth
- full address
- your business experience for years
- your business skills
- Assessing your business skills
- the planned investments (your indication of the financial instruments is not binding)
- the expected trading frequency and average duration of your positions
- the reason for your business efforts
- the expected amount of your investment and your target profit and loss ratio
- your financial situation
etoro review: Make deposits at eToro
Once you have provided all the requested information and completed the creation of your profile on eToro, you are free to make deposits up to €2,000.
This is where eToro stands out with a wide range of payment methods, as deposits are made here via
- Credit and debit card,
- PayPal,
- Right now,
- Skill,
- bank transfer,
- Neteller,
- WebMoney,
- UnionPay and
- Possible Yandex.
Please note that to fully utilize all functions of the trading platform, account verification is required.
Verify account on eToro
Verifying your account on eToro is a mandatory part of the registration process in order to use the full functionality of the platform. A good point for our etoro opinion. Indeed, regulatory requirements require eToro to verify each new account. This keeps the platform secure and prevents unwanted activity.
Also, verifying your account will speed up the processing of withdrawals and deposits with no maximum limit.
To verify your account, simply go back to editing your profile until you reach the next screen and click on “Complete verification”.
You will need the following to verify your account:
- Your mobile phone to verify your number.
- Your identity card, driver’s license or passport to verify your identity.
- A document that clearly indicates your residential address. The document must not be older than 6 months. The following documents are accepted:
Once you’ve submitted all the necessary documents, it usually doesn’t take long before your account is fully approved for all features.
Use the demo account on eToro
One of the indisputable advantages that eToro offers its customers is that you have the possibility to trade with zero risk. So we had to make that clear in this etoro review. You just need to activate your demo account to unlock the $100,000 play money for you.
The demo account is particularly suitable for beginners to learn how to trade the various financial instruments under real conditions. But advanced and professional traders also have the opportunity to try out new strategies and their performance without having to weigh down their portfolio.
Activating the demo account is very easy. Click on the small field in the upper left corner below your profile picture that says “REAL”.
Once you click on the field, you can switch between your real and virtual wallet there. To access your demo account with play money, just click on “Virtual Wallet”. In response, you will be asked to confirm that you want to go to your virtual portfolio.
After the confirmation, where it said “REAL” a moment ago, it should now read “VIRTUAL”. Any trades you make now will only be done with your play money.
To take real money positions, simply reverse the process by switching from your virtual wallet to your real wallet. You are free to switch from one to the other at any time.
Take a trading position on eToro
Now let’s get down to business in our etoro review: active trading on eToro. You can take a trading position with your real and virtual portfolio.
However, you must first think about what you want to trade before doing so. The eToro platform offers its users a huge range of different financial instruments. On eToro you can trade thousands of different assets. Of course, you should always bear in mind that each asset class has its own characteristics and therefore requires different investment strategies from you as an investor.
etoro review: Explore the different markets on eToro
To narrow your search for the right asset, you must first think about the type of financial instrument you want to trade. On eToro you can distinguish the following categories:
- Crypto,
- ETFs,
- The actions,
- clues,
- raw materials and
To pierce the different orders, simply go to the left menu bar and click on “ Requests”. Also you should come to the following view which will give you an overview of what’s available to you as an investor on eToro.
etoro review Trade cryptocurrencies on eToro
To get an overview of individual means in a certain order, click on “ Krypto” in the top requests bar, for illustration, to get a list of all the cryptocurrencies you can trade on eToro.
Presently, the following 15 cryptocurrencies can be bought and vended on eToro against the US bone
Bitcoin (BTC),
Ethereum (ETH),
Bitcoin Cash (BCH),
Ripple (XRP),
Litecoin (LTC),
Ethereum Classic (ETC),
Gusto,
Astral (XLM),
NEO,
EOS,
Cardano (ADA),
IOTA,
Coin (BNB),
TRON (TRX) and
ZCASH (ZEC).
Also, you can trade 15 different cryptocurrency dyads on eToro, similar as ETHEOS (Ethereum and EOS) and 62 subcurrency dyads similar as BCHAUD (Bitcoin Cash and Australian Dollar).
To switch from one order of currency dyads to another, simply click on the”Units” field and elect one of the other two options to display the matching currency dyads.
For illustration, to change bitcoins, just click on the applicable line. For every brace of means and currencies tradable on eToro, there’s a feed where the platform community can change information.
Under the Statistics section, you can view colorful information, similar as diurnal volatility or price development over a certain period.
Last but not least, plates technicians, in particular, have the occasion to let off brume with their particular analyzes in the”Graphics” section. The platform offers a wide range of tools, studies,etc. different with which the separate visual can be edited collectively.
When you are ready, all you have to do is click on”Trade”, indicate whether you want to buy or vend bitcoins, and specify your entry point and the influence with which you want to trade your position.
Our etoro threat opinion. The point is amulti-asset platform that offers equity and crypto- asset investments as well as CFD trading.
Please note that CFDs are complex instruments and come with a high threat of losing plutocrat fleetly due to influence. 75 of retail investor accounts lose plutocrat when trading CFDs with this provider. You have to ask yourself if you understand how CFDs work and if you can go to take the high threat of losing your plutocrat.
Once performance isn’t an index of unborn results.
Cryptophiles are unpredictable instruments that can change significantly in a veritably short period of time and are thus not suitable for all investors. Unlike CFDs, crypto- asset trading isn’t regulated and is thus not subject to any European nonsupervisory frame.
