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How to Invest in the Stock Market with eToro

October 31, 2017 No Comments

Featured article by Emily Roberts, Independent Technology Author

If you have an interest in trading on the stock market but you’ve never had the confidence to go and do it because you’re not knowledgeable – you’ll be happy to know it’s actually a pretty straight-forward process, especially if you’re partnering up with eToro. eToro is a social network trading platform that can help newbies just like you get their foot through the door in the world of stock markets. Read the following helpful guide to get started in the stock markets with the help of eToro.

Register for an Account & Deposit Funds

The first step is the easiest. Simply register your personal details and login to your account. Once you’re in your admin panel, click on “deposit” and enter in your desired payment method details and the amount that you’d like to trade with. eToro also has a practice account that you can take advantage of so you can get used to the platform before you start trading with real money. So, decide which platform to use first.

Familiarize Yourself with the Platform

Your best bet is to use the practice account first so you can get used to the platform and all its features. The platform looks pretty daunting at first, but once you get used to it, you’ll find what you need very easily.

Pay Attention to the Top Traders

One of the easiest ways of trading with the help of eToro is to follow other traders and duplicate their trades (with an amount of money you’re happy with, of course). eToro is a social networking and investing platform that aims to bring newbie traders together with professional traders. Therefore, there’s no reason why you shouldn’t take advantage of following some of the top traders in the game. Look at this list of the eToro top traders according to InvestinGoal. It will give you a much better chance of walking away with a profit if you have an experienced trader watching your back.

Trade Yourself

Once you’ve grasped the whole concept of how eToro works, you should place a few low-value trades yourself so you can gain more experience of what works and what doesn’t. eToro is a big learning curve not just in terms of the platform you have to get used to, but also learning how the stock markets work. Some of the best traders out there are only at the top of the game now because of some of the schoolboy errors they’ve made in the past. This doesn’t necessarily mean you should go out and lose all your money on purpose, it just means you’ll learn more from your mistakes than you would from earning a profit all the time.

eToro makes it very easy for newbies to earn some money from the stock market without really knowing how the process works. However, if you’re going to take trading seriously with the help of eToro, you’re better off learning how the stock market works and what research you should undertake before you even think about placing a trade.

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