Possibility of high prizes even for newcomers.
With such an introduction, probably you have already understood that social trading is above all a great opportunity for less experienced traders. They can start right away, and without much knowledge, to earn with online trading. Even newcomers can easily learn winning techniques and trading strategies. Social trading can be applied to both the currency market and other markets, and represents a feature offered by an increasing number of brokers (although only few the best!).
Need a freshening of the meaning of social trading?
Social trading was proposed for the first time by eToro. That immediately contributed to revolutionize the way markets operate: it has transformed the common trading platforms into real financial social networks. It created a social platform for traders that brings unique advantages: you can operate independently with the usual approach while having the opportunity to share thoughts, reflections, analysis and observations with the trading community.
Therefore the distinctive element is represented by the social aspect. Here, as in any social network platform, you can search and follow users of the community that you think may have more affinity with you, interact with them by sharing information and exchanging messages, check the results you and others have obtained, and so on. All this is allowed also by an interface that has the typical quality and interactivity of eToro, a broker that has no rivals in ease of use.
Once you have become sufficiently familiar with the social community, you can take a step further, identify the best traders and you can copy them through the “Copy trader” feature. It will allow you to replicate on your wallet the operations that they have done. In other words, once the copy trading functionalities have been set up, each time the following trader will do an operation, the same will be proportionally replicated on your account, with the same characteristics. So, if you identify the best traders, you will be able to earn without doing anything but telling the broker to copy them! Easy, isn’t it?
With eToro’s CopyTrader social trading you will be able to copy up to 20 traders investing a maximum of 40 percent of your portfolio. The minimum investment is 100 euros, and the minimum capital per single trade is 1 euro. You can also set personalized limits on the maximum amount to invest, in order to have everything always under control.
What does this have to do with tournaments?
eToro offers weekly trading competitions with practice accounts or demos. In these eToro tournaments with nice reviews you can compete for big prizes: you win by earning as much money as possible. The more earnings you accumulate, the more money you will win with the prizes offered.
That’s the innovation: you can make tournaments directly in the social platform, all while observing the movements of other traders, analyzing user trends and asking, in real time, consultations and opinions. An innovation in the trading world that is unprecedented.