Has anyone used sites like eToro?

Discussion in 'Stock Market Education' started by Colebra, Jul 15, 2014.

  1. Colebra

    Colebra Well-Known Member

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    Or any other website that allows its users to follow the financial trading activity of ther investors and copy them.
    I know this might sound like an anecdote to you, but I always choose to ask them studid questions... :p

    Can this be a good learning tool, especially when you can start with very small amounts of money, and in theory your investment is backed by the knowledge of these experienced traders?

    Thank you for your time in advance!
     
  2. skynel_27

    skynel_27 Member

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    I tried signing up for Etoro before but I did not actually studied it when I'm interested in re-signing up then I hope you'd still welcome me here to post and share to you what I will be learning. :)
     
  3. dianethare

    dianethare Senior Investor

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    Haven't gotten round to joining Etoro yet...still researching and reading people's reviews on the same before i commit myself.
     
  4. richc3

    richc3 Senior Investor

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    Never heard of this, but looks like it might be worth checking out -- thanks.
    Kind of reminds me of how we all have our own theories on how to beat the markets, often an amalgamation of various sources. However, at the end of the day it's often the old saying "the rich get richer" and in that sense, it's always wise to see what the wealthy are doing.
     
  5. Parassd

    Parassd Active Member

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    I agree with what he says, he poor stay poor but the rich get richer. If you're interested in following other traders, the best option is to follow the trades of rich people, especially Warren Buffet. There was this site about Warren Buffet which gave viewers the archive of stock trading done by Buffet over a period of two years, it was quite informative but I'm forgetting the name because I haven't followed the market for over a year now. I think google can help you.
     
  6. TipdOff

    TipdOff Well-Known Member

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    Are you in Europe? eToro doesn't work in the US because of CFD regulation as far as I know. You can also only trade a limited number of stocks - they're mostly focused on currency trading. The instant "copy" trades features is kinda cool, but what I don't like about their platform is that you need to have a brokerage account with them, on their platform and transfer funds. Check out social trading network Tip'd Off, for all US listed stocks. You can follow other users, discuss stock tips, and also see what they're actually trading, but users simply link their existing brokerage accounts and no trading is actually done on the platform itself. It's more focused on sharing stock tips/ trading moves.
     
    Last edited by a moderator: Jul 8, 2016
  7. dianethare

    dianethare Senior Investor

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    I think after much thought and scheming through the site, {etoro}, i don't think i 'll be able to make it on that site, i might just as well quit while at it :)...on one part it seems quite understandable, on another part, am at a complete loss!
     
  8. troutski

    troutski Guest

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    eToro has limited uses for US residents, although residents of other countries can use the site for some decent trading options. I can't say that I've ever considered using it, and I don't know a ton of people outside the country that prefer using eToro over other sites. That's why I'd recommend giving it a pass, although you might be able to gain something from using it.
     
  9. daveM

    daveM Member

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    Might be best to use extreme caution with this site, there are apparently some very skilled manipuators with huge followings that endure huge losses. You will have to sudy long term performance of each trader thoroughly.
     
  10. Strykstar

    Strykstar Well-Known Member

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    I personally have never used eToro, I've been reading reviews and I'm honestly very torn.
    There are some obvious advantages to it but some people's experience hasn't been too good.
    I'm waiting myself, either for the site to improve or I read better reviews.
     

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