eToro is the best social trading platform. It is considered a social trading platform because it lets the users copy the trades of other investors. This platform is best for those who want to learn about online trading. You don’t have to start your work from scratch using this innovative tool. Just copy the trading strategy of other crypto traders and apply it as you like. Once you get a hold of how things work, you can use your methods to trade.
eToro has more than 20 million users worldwide but is quite limited in the United States. The citizens of the United States can only trade cryptocurrencies, while for the rest of the world, eToro runs multi-asset brokerages. You can also use eToro for stocks, commodities, and forex trading if you live outside the US. Let’s look at some of its prominent highlights to know more about Etoro.
Pros
- Offers access to 17 cryptocurrencies
- It’s a simple enough platform to use
- Both a social and a regulated platform
- You can copy and follow other traders
- Virtual account training
- Perfect for a newcomer in crypto trading
Cons
- Can’t withdraw all the available coins
Highlights
- Low Trading Amount: If you want to try crypto trading just for fun, you should opt for eToro. You can open your account with as little as $50 and start trading with only $20 in your account. However, you’ll need a credit/debit card to deposit in your account. But that also poses some problems as anyone can enter for trading, causing frauds and security risks.
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