What are the main functions of the "Search Filters" for the eToro traders, on the "new eToro platform"?
a)Time Filter:At the beginning of the filters table, you will find the "Time Period Filter." We recommend you to search for the trades from past two years, for more accurate results. You can use the period filter for as much time as you feel necessary. Sometimes, even using period of past few months are advisable for searching good traders who are more favorable to add them in your portfolio.
b)Profile Filter:The profile filter helps you to identify those who are well-known investors and those who are only traders by confirmation among the traders available. The eToro platform will only show the profiles of particular investors belonging to a particular country with their names, surnames and profile pictures. Hence, as an eToro trader, you can view only those traders who are loyal to the eToro platform.
c)Social Filter:After that, you will find the "Social Filter." The main function of the social filter is to show you the list of expert traders. The popularity of the trader determines his proficiency. There three types of the social filter each of them having different functions. They are as follows:
- Copiers Column: It helps you to segregate traders copying the trades with other traders.
- Copiers Change Column: It helps you to know the profit of investors copying the trades.
- Copy AUM (Assets Under Management): You can view the capital investments of the investors by their copy trades.
d)Performance Filter:
Here you can view for traders with good experience. They have a good experience of earning profits in percentage value. You can also determine their trading experience by their percentage of profitable weeks. The higher the ratio of profit percentage and profitable weeks the higher is the performance value of the trader. You should also study the time in which the profit percent is earned, before following any experienced trader[1].
e)Risk Filter:Traders on eToro platform[2] use the risk filter maximum. You have to be clear with the risk factor in every investment. As a trader, you avoid taking the risk as much as possible. But, it is also a fact that higher the risk factor, higher is the chances of earning big profits. Every trader tries to take minimum risk possible, but you cannot ignore the risk completely. You might avoid good traders with high risk/reward capacity by doing severe research.
Hence, the risk filter will help you find those popular investors with good trading experience, earning good amount of returns as well as taking risks which are under control. It allows you to categorize the popular investors into three categories as per your requirement. They are as follows:
- Risk Score
- Daily Drawdown
- Weekly Drawdown
g)Allocation Filter:It allows you to view the traders with experience in trading certain commodities during a specific period. You can easily find the investors by categorizing in any specific CFDs investments among the different categories of assets, commodities, stocks, and indices.
h)Average trade Size Filter: The average trade size filter allows you to understand the risk factor behind every investment of your favorite investor.
i)Exposure Filter: The exposure filter allows you to view the capital invested. The higher the capital requirement, higher will be the risk loss exposure.
To become a good investor, you prefer active traders to view your investments constantly moving. Higher the number of investment moves, higher is the risk opportunities. You should be aware those traders who overemphasize their trading techniques.
How can I open a "Demo Account" on the eToro platform?
First of all, you need to sign up on the eToro platform. The procedure to sign up for the eToro Demo account is very easy. You need to fill up your details and register on the Registration Page. You can even log in, by using your Facebook account.
After the sign-up process, your demo account gets activate on its own. The eToro platform offers the Demo account without any charges, and the service is mandatory. You have an option to test the potential of the eToro platform before actually investing with your money.
Now, you have to subscribe yourself on our affiliate link[3]. By subscribing to our affiliate link, you become one of our affiliates and can operate our content for free. After checking the URL, you have to register by filling the details of username, your password, and a mail. You can also fill the registration form with your Facebook account and join the platform quickly.
To begin with, the new eToro platform, start doing research and try to learn to trade by using the menu available on the left-hand side of the main page.(a) Click the "People" from the different items available in the menu: Here, you can find eToro search tool. It will allow you search investors to whom you can copy trades. You can add the correct investors, into personal Watchlist, according to your requirement. You can view all his feeds into your Feed. You also have an option to copy the investor.
(b) Click on the "Copy Trading": It will allow you to repeat the exact trade in your account, on its own.
(c) Click on the "Use Virtual Money": It will allow you to utilize the maximum potential of your Demo account.
There are two ways to view and observe all the investors before copying their trades. They are as follows:
(a) Virtual Portfolio: It is a comparatively faster way to view all the investors from the main platform itself.
(b) WebTrader Platform: For viewing the investors using the WebTrader platform, you have to choose the "practice mode." You have to log in the form available on the screen. You require the same Subscription Username and Password.
You cannot modify your Demo account on the eToro platform, unlike other platforms. Every trader on the eToro platform has a fix demo account of 50,000 dollars. In case you use all the virtual money, you can request for another sum of money by applying a ticket to the support department. They will re-credit more 50,000 dollars to your demo account.
Why should I opt for "eToro Practice account"?
The eToro platform provides you one of the best services in the form of its free demo account. You can learn to trade online without taking the risk of investing your real money. You can operate all the functions of the eToro platform by using its practice account.
You can easily connect associate a popular investor and copy trades of well-experienced traders. You can also modify the parameters for duplicating trades from the popular investor's list.
What is the difference between the "Real" and the "Virtual" accounts on the eToro Platform?
The users of eToro platform can view your public profile (Virtual account). The users cannot view your capital investments or your copy trades unless you open a Real account. But, you should also take care that you use your public profile for communicating with other users. All the users of the eToro community can view your public profile, in case of shortage of funds or from the feeds which you create for social trading.
Is there a need to download "eToro WebTrader"?
The eToro platform offers an application which is web-based, and known as "eToro WebTrader." The eToro WebTrader is one of the major providers of social trading. You can trade into Forex as well as the CFDs using the eToro WebTrader. As it is completely a web-based application, you need not download the eToro WebTrader. You can access it from any computer having an internet connection. There are different web applications available on the eToro platform to operate the same via tablets and smartphones.
How is the "eToro platform" useful for "social trading"?
The eToro platform allows you to be a member of the eToro community. You can share your trades with other eToro members. You can also research for good trades of well-experienced traders and replicate their trades. You can search for the most popular investors of the eToro platform. You can follow the popular investors who have good experience of trading with the eToro platform which gives you an opportunity to understand their strategies, capital investments, and trading skills. You can learn a lot from them without any detailed study of the market. The beginners or the newcomers can take the most benefit of copy trades facility on the eToro platform.
How can I access my "eToro profile" from my phone?
The eToro platform offers the "Mobile Trader App." You can download it for free for iOS and Android phones from the iOS App Store and Google Play Store. You can visit the eToro platform and update yourself with the news and ongoing market fluctuations from any location, and at any time. You can operate live rates and access the open and closed positions, see the charts, etc. using the eToro Mobile App.
Why do brokers ask for a "Minimum Deposit" from their customers?
Brokers ask for minimum deposits for safety from dead accounts. They can easily distinguish between large and small investors. Some investors are not ready to take higher risks because they lack in proper market knowledge. Such investors tend to change brokers frequently. Hence, the minimum deposit amounts help the brokers to filter out the active traders from all the traders, available on the platform.
What is the "minimum deposit" requirement to open an account on the "eToro platform"?
On the eToro platform, the amount of minimum deposit depends on the method of payment that you choose.According to the norms of the eToro platform, following is the minimum deposit requirement by your payment method:
- WebMoney, PayPal, Neteller, Skrill, Giropay or Credit card - 50 dollars
- Western Union and Money Gram money transfers - 500 US dollars
- Customers from Australia and New Zealand - 500 dollars
The bank transfers take five working days for your money transfer. Also, banks need more details for the process of verification.
Whereas, payments through online money transfer services such as PayPal, Skrill, WebMoney, etc. take comparatively lesser time and ask for lesser personal details for the process of verification. Hence, there is a huge difference in the amounts of "Minimum Deposit" under both the methods.
How can I deposit money in my "eToro account"?
The eToro platform does not ask for identity confirmation to deposit money, but trading will have a restriction of 2,000 US Dollars. The deposits need to be from the user’s account.
To remove the trading restriction, you need to verify your identity by submitting following details:- Personal details
- Address Proof
- Identity Proof
- Phone number
- Survey by your experience
- Credit cards
- Wire Transfer
- Skrill
- WebMoney
- PayPal
- Skrill
- Yandex
- UnionPay
- Neteller
- Promotional Codes
- The eToro platform operates using currency in the form of US Dollars. But, it accepts deposits in CAD, EUR, GBP, AUD, and JPY.
- The minimum deposit limit is $50 or the value equivalent to it (ranging from $50 to $1,000). It depends on the country from where you are depositing money.
- The eToro platform charges you additionally on your trades and withdrawals.
- You need not pay any additional charge for placing your orders on the eToro platform.
- You have to pay an additional charge for earning commissions overnight.
- You have to pay $5 monthly for not being active, which is remorseless.
- You will have to pay the conversion fee both at the time of deposit as well as withdrawal. The conversion fees depend on the conversion rates existing at that time.
What is the "Conversion fee charge" on the eToro platform?
For initial deposits and the withdrawals, from the following currencies, you need to pay the following conversion fees:| Currency | Fees (in Pips) |
|---|---|
| EUR USD | 250 pips |
| AUD USD | 100 pips |
| CAD USD | 250 pips |
| JPY USD | 250 pips |
| GBP USD | 50 pips |
| RUB USD | 50 pips |
| RMB USD | 50 pips |
You have to pay a fee of 25 dollars for the minimum withdrawal of 50 dollars.
What are the different services for the "Premium account" users, on the "eToro platform"?
The investors with large investment goals and active trading strategies prefer better services from their online brokers.The eToro platform offers special services to its "premium account" users which are as follows:
- Personal Payoneer Credit Card
- Videos for market study on weekly basis
- Direct approach to the trading room of the eToro platform
- Unique Deposit Bonus
- Quicker withdrawals
- Personal account manager
- Special marketing offers
- Operate the Trading Central Platform free of cost
- VIP Program of Neteller
What are the basic requirements to upgrade a "Premium account"?
As a trader on the eToro platform, you must have monetary units of 20,000. It can be 20,000 dollars or any other currency. You can have 20,000 monetary units in the form of net credit or even in the form of overall capital. You can view the total capital on the profile of the eToro OpenBook[4]. You must be aware of the maximum deposits for the premium account on the eToro platform. A premium account user cannot deposit more than the specified deposit limit.
The maximum deposit limit according to your deposit methods is as follows:- PayPal, Moneybookers and credit card - 5,000 dollars
- 1- Pay and Neteller - 10,000 dollars
- WebMoney - 50,000 dollars
How can I "sign up" on the "eToro platform"?
- The eToro platform asks for some simple details from any new joiner. All you need to feed in is your name, surname, phone number and e-mail address.
- You need to create a new username and a password to confirm your e-mail. No one can register using an unknown account because the eToro platform strictly follows the norms of KYC (Know Your Client) and AML (Anti-money Laundering) policies.
- The eToro platform also asks for verification of the process of withdrawal of your money. Hence, it provides safety of your funds.
- You can sign in to the practice account of the eToro platform. It is very helpful for the beginners in the market who want to start trading online.
- The practice account is available in the demo mode which is also known as a "Virtual Portfolio." You need not invest real money in trading using the demo account. Hence, there is no risk of losing your money.
