In this second chapter of our comprehensive eToro trading guide, we will now focus on the social trading platform. The eToro social trading platform is characterized by very nice graphics with easy to understand voices, real-time data, and features at your fingertips.
The fact that it is a social trading platform, as well as a simple platform for online trading, is also seen in this. An environment where both communicating with other traders and trading online becomes a pleasure. That’s our opinion but to you the final judgment.
Once you have completed the registration procedure explained in the previous chapter, you can access the eToro trading platform, which is presented as shown in the screenshot below.
Let’s now see the different sections that make up the platform.
The Customizable Tools Section
The main section displays the financial products on which you can trade. As we will see during the article, in this section you can also see other items, but for now, we remain on what appears by default when you start for the first time the platform.
As you can see, default financial instruments already appear in the “Favourites list”. You can change this list as you wish by clicking “add market” at the bottom (see below) or by deleting the instruments.
Note that for each instrument (market) the following are displayed: name, variation, small real-time miniature chart, selling price (to open a position downwards), buying price (to open a position upwards) and market sentiment among eToro users.
To add more instruments, as already mentioned, you can click “add market”.
Let’s go back to the top left. By clicking “My Favorites list”, you will see how, in addition to displaying your favorites, in the same area you can view recent investments (made by the user) or create a new list at will. You can also view them all at once. Using this window well will allow you to optimize your trading space and more easily reach all the instruments you are interested in keeping an eye on (perhaps because you have already invested in them or because you are monitoring them for potential revenue).
Real-time Account Status
Under the large tools section, you will find the account bar. This bar shows the status of the eToro account in real-time, which includes available capital, invested capital, profit/loss account, and net worth. When working with a demo account, “virtual wealth” is shown.
The left column could be called a navigation column. With this column, you can easily access different features, settings, offers, and customizations of the eToro social trading platform.
To make it easier to understand the column, we will divide it into three parts since it is divided into three parts by the same platform: invest, search and more.
Let’s start with the first part, “Invest.” By default, the Favourites list is selected, i.e. the list we have seen before. In the Favourites list, you can include the assets on which you prefer to trade habitually with the ability to update the list by adding or removing assets at will.
By clicking “Portfolio”, on the other hand, in the same area where your preferred assets are displayed, you can view the assets on which a position has actually been opened.
Finally, “News Feed”. By clicking on the bulletin board you can view the comments of publicly shared traders. It’s a bit like the “Home” of Facebook or Twitter. You can set up the bulletin board as you wish. To do this, click on “News Feed”.
The result will be similar to the following in the screenshot below. You will only see posts from other users. In this case, a popular investor dedicates a post to all his followers and copiers (i.e. those who automatically copy his operations).
In this section, we will find three entries: Trade Markets, Copy People and CopyPortfolios.
Clicking Markets, in the area of the instruments where all the categories of markets are displayed, will make all asset categories available on eToro: indices, shares, cryptocurrencies and so on (see image below). You can then click on a certain category to view assets of that specific category or display the mixed screen and is divided by sectors.
By clicking “People”, popular investors, ie the investors “popular”, or those most followed are shown. Remember that on the eToro social trading platform, there is a follower and following mechanism as well as on twitter. A popular investor can be followed because they are interested in what he says and what he does, but also to evaluate whether to copy it or not. We’ll take a closer look at copytrading in the eToro guide. As you can see, even in this case the visualization of investors is customizable. You can choose them according to nationality, according to the market in which they invested, according to earnings, according to the periodicity of reference to the results.
Finally, the last entry in the Invest section is CopyFunds. These are real funds made up of several assets or several popular investors which you can subscribe to. The interesting thing is that in addition to funds that include only assets, you can subscribe to funds composed of investors and their returns.
In this section, there are some items that may be useful and interesting to you.
- Invite friends: to invite friends to eToro and get $20 for each friend you bring. Each friend will also receive an extra $20 after the first deposit.
- Help: This is a FAQ where you will find answers to the main questions regarding the platform and the use of eToro.
- Guides: this is a path that shows step by step what you can do on the platform
- Withdraw funds: allows you to access the page dedicated to withdrawing funds from your trading account
- Settings: An interesting section where you can fully optimize the eToro social trading platform, starting from the currency used.
Finally, just under settings, there is the button “deposit funds” to make deposits and trade in real mode.
Click here to go to the third chapter of the guide, where we will give you an example of trading with eToro.