Trading binary options using etoro charts and 600
It delivers all the features of the full website, and performs very well across all platforms including iPhone, Android and Windows devices.
Traders can react instantly to any markets news. The customer service team is well informed and friendly. Boasting an excellent web platform, smartphone and tablet enhanced compatibility and some of the lowest deposit requirements in the industry; eToro is a top destination for any aspiring forex trader. The ability to follow other traders and copy their trades is a top feature which has helped to make eToro the award winning forex platform that it is today.
Without the social networking aspects, eToro would be a great site for forex trading, but with them they are one of the very best on the web today. Nevertheless, Forex is not the only market that traders can trade in. Traders now also have the opportunity to trade in CFDs with the same platform.
In other words, CFDs are financial instruments which let traders profit from the price movements of an underlying asset without having to own that asset physically. Although eToro is a based in Cyprus at 7 Omirou St. A and Sydney, Australia. Traders at eToro can choose between opening a basic trading account or a Premium trading account.
However, prospective clients of eToro can also sign up with eToro for a free demo account to try out the various features of their trading platform before they commit. You only need to provide an email to gain access to the Demo account. I really like their demo account setup as there is no obligation to deposit any real money nor will you get sales representatives calling you and harnessing you to make a deposit.
The new fund will be focussed on Crypto currencies. Investing in crypto currencies has not been easy previously. The technical challenges, and risk factors to try and manage, have made it difficult for retail investors. The eToro fund gives traders access to a rapidly growing sector with a single click.
The innovative fund will offer investors a diversified portfolio weighted according to market cap size. Overall eToro is a reliable broker to deal with. Furthermore, they are fully regulated meaning you can trade with them with the assurance that they will not run away with your money! Once accepted into the program, traders could rise up the levels.
These range from Cadet to Elite Popular Investors. Market CopyFunds, which group several assets following a predetermined trading strategy, and Top Trader CopyFunds, which group successful eToro investors together. Each fund is managed by a sophisticated algorithm to optimize the fund.
With each fund composed of multiple elements, diversity and risk management are improved hugely. The Copy Fund feature offers the chance to follow a range of active traders, selected based on performance by the Copy Fund algorithm. Each trader is followed using a percentage of the fund capital, and those allocations will change based on performance.
It is an interesting concept which reduces risk for the copying trader, and offers access to the best performing traders, without the need for constant monitoring of performance. An alternative to copying a range of traders, is to copy a range of assets within one asset class or category.
For example, banking or technology. The concept is again appealing to traders who want exposure to a particular asset class, but do not want to setup a range of different copying trades. Now, they can get more diverse exposure, in a fraction of the time.
There is even a fund that goes short across a range of assets, enabling traders to hedge against market crashes. The list of funds is being added to all the time with the broker taking requests from traders. So if there is no fund covering emerging markets, just ask. Investing in crypto currency has not been straight forward up until now.
There are technical challenges as well as risk factors to try and manage. The eToro fund allows traders to gain access to an extremely popular sector at the click of a button. It is another sign on the firm delivering the investments that their customers want.
The innovative fund will offer investors a diversified portfolio weighted according to market cap size. Commercial uses would be almost boundless. The CopyFund launch created huge interest in early Or in the event of financial issues with the firm. The consumer protection is far greater than at the majority of binary options brokers, and means UK investors can use the firm with absolute confidence.
The eToro website is available 24 hours a day, but particular assets will only be available to trade when the market is open for that asset.
Traders need to select the price they are happy to trade at, and orders will be filled once the market is open and the price set is available. Finding traders to copy is simple, but does require some time and research in order to find the right trader for you. From the Copy Trader screen, users are presented with a number of filters in order to narrow their search.
It is important not to be drawn in immediately by a huge short term profit figure. One profitable trade may have masked 2 or 3 years of losses. Risk score is explained in detail in a separate FAQ below. Once a few candidates have been shortlisted, each can be clicked on to get a view of their past performance. Profits are broken down per month — this gives a great overview of consistency. Regular monthly profit is, of course, desirable — but the odd negative month is not a show stopper.
Users need to determine what they are looking for in a trader. So there is no right or wrong answer in who to copy, it will be down to the individual — but the more time invested in the decision of who to copy, the more likely that a user will find the right trader.
The eToro trading platform is fairly simple and intuitive, but it is worth running through how to open a trade. Firstly, find the asset to be traded. This can be done via a personal watchlist, or a brand new search. This will open a list of popular assets. Use the filters to find the asset of interest. Once found there are a number of way to open a position.
The additional data includes the price chart, and also the feed — so traders can see what others have to say on that asset. With the trader ticket open, traders need to enter the amount they wish to invest, and then set the stop loss, leverage and take profit levels.
The eToro risk score is a measure of market exposure that eToro give to each trader. The number is between 1 and 10, where 1 is very low risk, and 10 is very high risk. The firm calculate this number via a number of measures. For example, they will consider whether the portfolio is diversified, whether the instruments and assets being traded are particularly volatile or not and most importantly, the levels of leverage and equity being used. So for example, if a trader has their entire portfolio invested in three trades, all forex pairs including the US dollar, and all in the same direction, with the highest possible leverage — eToro will give them a high risk score.
The overnight fees will also vary. Overnight fees are not applied unless leverage has been used. So calculating an accurate fee per trade might be quite difficult, particularly if the length of time the position will be open is unknown. Generally the spread and costs will amount to 0. They also apply a fee on dormant accounts. An account is deemed dormant where it is not used for 12 months.
Open positions will not be closed in order to pay this fee. Copying traders is a key feature at eToro. It enables traders without the time or knowledge to copy the trades of successful eToro users. Here we explain how to copy traders on eToro. Firstly, find the Copy People option on the user menu on the left of the screen. This opens up the copy area. Along the top of this screen are a number of filters. Each can be set to help users identify the traders they want to copy.
Further down the page, eToro will list certain traders based on current short term performance, those getting copied the most, or those with a particular risk profile. Figures are broken down by month, and go back for as long as the trader has been making trades. Long term, consistent profit is a good sign. Users can also see the current portfolio. This shows if the trader is active and what current positions are open and could therefore be copied straight away.
Users will then need to confirm they understand that eToro will open and close trades on their behalf once they confirm the intention to copy a trade. There is then one final step — but the most important. The final copy screen confirms the size of the investment the user wants to invest with this trader.
The screen will confirm the average size of investment, based on the amount set by the user. Those copying need to know exactly how large their investments might be. There is then a stop loss figure, where copy traders can stop copying if losses hit a certain point. There is also a tick box to indicate if the user also wants to copy the existing positions. If ticked, any open trades will be copied immediately. If not ticked, the copy process will wait for any new trades to be opened.
The performance is listed, and from the settings buttons on the right, the copy position can be adjusted, or ended.