I am always looking for ways to diversify my income, and trading is something that I have heard a lot about recently. Here is more information on trading with eToro.
The thing with investing, and specifically, trading, is that there is a lot to get your head around, and time is something that I'm very short of! It isn't like just signing up to a survey website and completing a few surveys for an instant return. For those of you who are short on time, you might want to consider something like social trading with eToro.
What is social trading?
Social trading is similar to a social media website, but for trading. You can follow, communicate with and even copy other traders. You simply hit “follow” on a user's profile and bam, their activity will appear in your news feed. This means that you can communicate directly with other traders, whether it is to ask them questions, join in with online discussions or share knowledge and insights.
Trading with eToro
eToro is the world’s leading online social trading network. They have over 6 million registered members from 140 different countries across the world. What's more, there are thousands of new accounts opening every single day. Their mission is to revolutionise the way that people access the financial markets. To do this, they also want to make people's trading experience more social, transparent and importantly, enjoyable!
What makes eToro a great choice is that they allowa users to automatically copy the trades of the platforms leading investors. When you are short on time, or perhaps you aren't too sure how you should be trading, this can come in extremely useful. The eToro platform's transparency allows you to see what users are trading in, in real-time. Upon assessing the trader’s activities, portfolio and risk score, eToro members may choose to ‘copy’ a trader and this enables them to build a ‘people-based portfolio’.
Since eToro launched in 2007 it has established itself as the market leader in ‘social trading’ and recently received recognition at FinovateEurope 2017 with the Best of Show award.
Jaynemesis's trading with eToro story
When it comes to making money online, I like to see how well other people have done before I take the plunge. It is part of the reason why I started this blog, and why I am very open about the money that I earn from different side hustles. Jaynemesis is an eToro user with an impressive story. Jay is 28 years old with interets in technology, politics, economics and gaming. He is a professional gamer, travelling the world to participate in eSports tournaments. Which is pretty cool! What's even cooler is that he currently has 85.35% profits over the last 12 months and his trading strategy is copied by 249 other users from around the world. Jay came across Bitcoin when it cost only $12 for a coin, a currency that is now worth over $1,000 per coin! Imagine that growth.
It is important to remember that with trading, like a lot of investments, you can lose money, so it is important to consider this carefully.