‘Etoro’ A Israeli Based Financial Service Startup That Provide Financial And Copy Trading Services All Across The World
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eToro is a social trading investment network that enables users to watch the financial trading activities of other users, copy them, and make their own trades. The company’s product, OpenBook and WebTrader, allows traders to learn from each other, share live trading information, and capitalize on their collective power. Launched in 2007, the company has registered offices in Cyprus, Israel, and the United Kingdom. The platform first introduced Bitcoin trading in 2013 but has since become a more well-rounded exchange that offers various cryptocurrency products.
eToro offers two mechanisms for investing in crypto. You can either buy crypto with no leverage, in which case the underlying asset is held in cold storage by eToro on your behalf. Or, you can trade crypto via a Contract for Difference (CFD), whereby you don’t own the underlying asset but rather speculate on its future price. One aspect that makes eToro stand out is that it offers social trading facilities. Using the platform’s copy-trading feature, for example, users can follow and copy the positions of other traders.
There are no fees for joining eToro and registered users can also make use of a free practice account, which comes stocked with a pretend balance of $100,000. However, like virtually all its peers, eToro charges various spreads on trades and fees for facilities such as withdrawals.
Since it offers multiple trading platforms and instruments, eToro’s fee structure is rather complex. For cryptocurrencies, the fee varies for different coins. For instance, the spread on Bitcoin is 0.75%, 1.90% on Ethereum and a massive 5% on Tezos.
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