Detailed etoro review: Copy Trading, Deposit/Withdrawal, and Funds Security
A broker platform is not simply a trading platform. The features extend in multiple directions in various dimensions. You may not be searching for a broker who has a low deposit and withdrawal minimum threshold, your search criteria may be including advanced features. So, etoro review in this blog details the features like copy trading, deposit/withdraw functions, and trader’s security. Copy traders are now increasing compared to active traders because market volatility is so high to test new trades. Let’s get straight to the topic and explore the basic information you must know about eToro features.
Copy Trading at eToro
Copy trading is a specialty feature of the eToro platform and hence they have integrated social trading features for their users. You can be benefitted from the platform copy trading feature especially using auto-following commands. Early it was ‘Visual FX’ (in the year 2007), and then it was upgraded and named as “WebTrader” in the year 2009. One year later, the OpenBook platform was integrated again and in 2015 was merged with the WebTrader platform to introduce a new innovation for copy traders.
By accessing the US stock market directly through eToro platform, you can become a real shareholder.
The 2 key features of this copy trading platform are copy portfolios and trading central. While you are copying a successful portfolio, you should have 1k dollars in your personal account. Consider that it involves not only copying the portfolio assets but also risks and other structures. Its management is based on the use of machine learning technology. Moreover, you can freely access the restricted exclusive materials of the analytical platform.
The eToro platform offers detailed statistics for users in real accounts. Moreover, you can easily pick up the pre-available investment portfolios. You just need a dollar to invest for copying a trade. Moreover, you are free to choose any strategy to copy transactions.
Deposit/Withdrawal at eToro
Deposit and withdrawals are fast and fees are low. It doesn’t depend on how many withdrawals you requested in a minute, you will get it approved instantly and processed soon. However, withdrawal duration may depend on your preferred payment method. On average it takes between 2 to 8 days for the money to be deposited in your withdrawal account. Remember, you can only deposit and withdraw dollars (USD). Whatever amount you are withdrawing, you have to pay a $5 fee per transaction to the broker and then the standard commission to the payment system chosen. The minimum withdrawal threshold is thirty dollars.
Funds security should be your priority when choosing any broker and in the case of eToro, stay assured. It is FCA licensed and also protects you from negative account balances. However, you may face trouble in filling out the application when referring to a conflict of interest.
When you are getting a lot of benefits from a single broker platform that is 95% positively reviewed, do you feel the need to search for another? No! You don’t have to. So, search more about the eToro and give it a try if you have the investment amount.