If you’re planning on investing, congratulations on making the decision to invest in your future. If you’re planning on trading, that’s great too, as long as you know the risks and you know what you’re doing.
While long-term investing might be the better choice most of the time, some people could also make trading work well for them.
With that said, if you’re wondering if eToro is a great platform for trading and investing beginners, this is the guide for you.
The Answer.
Yes, eToro is a great platform for beginners in trading and investing. In fact, I’d say it’s one of the best platforms for both beginners and experts, especially if you’re not from the United States.
Why should I use eToro?
1. Zero-commission trading & investing
You heard that right.
With eToro, you can trade and invest in stocks, cryptocurrencies, and index funds, without any fees at all.
As of today, eToro is only one of the very few trading and investing platforms that actually has zero-commission trading. That itself should be a very good reason in itself, as you can freely buy and sell stocks without racking up on fees.
2. Easy-to-use desktop interface
eToro‘s interface is so simple and beginner-friendly that it’s as easy as using your favorite social media sites like Facebook and Twitter.
The designers of eToro‘s user interface really designed the platform in a way that investing your money won’t be difficult and complicated like with most older trading and investing platforms.
Buying and selling stocks and other assets are really easy too, that it almost feels like you’re just buying virtual items in a video game.
3. Great mobile app
Being available on both the Google PlayStore and the Apple App Store, with their mobile app having the same look and feel as their desktop app, also expect great beginner-friendliness.
If you don’t have an eToro account yet, you can effortlessly register in just a few minutes.
Disclaimer: 75% of retail CFD accounts lose money. Trade with caution.
4. Effortless account registration
Registering on eToro is as easy as registering on a social media site or a video game site, that it doesn’t even feel like you’re registering on trading and investing platform.
Also, you can log in using your Facebook or Google account instead! How’s that for user-friendliness? You can literally create an account in just a few seconds!
If you’re already convinced, you can register on eToro here.
5. eToro’s virtual portfolio feature
Another great feature for beginners with trading and investing.
If you don’t have the money to deposit yet, or maybe you want to test out trading and investing without risking your money, you can use eToro’s virtual portfolio feature!
So, what is it?
With eToro’s virtual portfolio, you’re pretty much going to have a sort of “test account”, with a test balance of $100,000 for you to easily buy and sell stocks with.
Of course, though, all the money and profit you’d make on the virtual portfolio is non-withdrawable as it’s only a “test” account.
6. Fractional shares!
Do you want to buy highly-priced stocks like Amazon($2000+) or Google($1000+) but don’t have that much money at the moment?
Fortunately, eToro supports fractional shares! You can simply buy a very small fraction of a stock, for as low as $50.
7. Easy and instant deposits
eToro is one of the only few investing and trading platforms that actually allows depositing through PayPal, also with zero fees and commissions! You can also deposit using any other currency like the Philippine Peso, Indian Rupees, Singapore Dollars, you name it! All the deposits will automatically be converted to US Dollars.
Other payment methods include:
- Credit cards
- Debit cards
- Skrill
- Wire Transfers
- Neteller
- UnionPay
- Local Online banking
- and some others depending on the country you’re in
Final thoughts.
eToro didn’t manage to get millions of investors and traders by luck. One thing’s for sure, they manage to rack in a huge number of users due to how easy to use their platform is. If you haven’t yet, join eToro and start trading and investing now!
