Truly revolutionary, Copy Trader created by eToro has caused quite a commotion! It quite simply offers its users the possibility of copying the trades of the best traders that subscribe to the platform. A revolutionary concept that enables beginner traders to make money fast.
How Copy Trade works
Thanks to Copy Trader TM, it is now possible to follow the investments of the best traders subscribed to the social network of the broker eToro. This function is offered to all eToro members and has only been launched recently.
For practical reasons, the Copy Trade function has been integrated in the broker’s social network called OpenBook. This social network allows you to see in detail the behaviour of the experienced traders, but also and most important, their performance.
The choice of the trader to follow is left to the user who is able to target their search in accordance with different criteria. Thanks to this tool one can therefore easily profit from the knowledge of experienced traders to gain profits both quicker and more efficiently.
Recently optimised, eToro’s platform allows one to see in detail the strategies implemented by these expert traders, as well as the performance of each of the trades completed.
The choice of the trader to follow is made easier through access to various indicators such as profits, strategies, portfolio composition and risk level. One simply has to filter the information to find a broker that corresponds with your requirements.
Once the trader has been selected, it is even possible to systematically copy their trades. The function offered by eToro is therefore closer to automatic trading than simple advice. Of course, it is also possible to use the information obtained in an independent manner by integrating it into your own strategies.
A strategic choice from eToro
The choice by the eToro broker of implementing Copy Trader was particularly influenced by the desire to attract beginner traders, often too lost to start trading. Thanks to this new tool, the risks are diminished for the beginner and they benefit from a collaborative trading to learn investing by copying the best.
On the other hand, the broker insists on their aim to be transparent on what happening on the platform. Therefore, everybody wins with this tool which enables responsible trading whilst encouraging individual traders to think on how to improve their strategy and so better master the risks taken.
To perfectly fit the beginner traders’ requests, eToro has watched the platform’s implementation carefully to ensure the simple and ergonomic display of the information, accessible to all. The targeted objective is therefore quite large as now even regular users can make use of the experiences of the other traders to improve their strategies or even diversify their investment portfolios by spotting profitable assets they could have missed.
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