How to Start Social Trading on eToro
Posted On April 11, 2022
Social trading is the act of following the actions of other traders on stock exchanges and replicating their trades while earning money in the process. It is an exciting new way to invest your money and a growing phenomenon among active stock traders and online investors alike. Social trading is a particularly engaging way to invest your money because you’ll follow the market and other traders’ trades rather than simply investing in stocks yourself.
Social trading on eToro allows you to follow the actions of other users on the platform, replicating their trades and earning money in the process. You don’t need to be a financial wizard to join in the fun – start with just £5, and you could be making money from social trading in no time. With the eToro social trading platform, you can take advantage of other users’ investments and monitor their trading activity. The best part is that anyone can start social trading on eToro, regardless of their investment experience or trading experience. This article explains how to create social trading on eToro, from setting up an eToro account to building your trading strategy.
There are two preferred ways to start social trading on eToro. The first is to open a personal eToro account, where you can get free money by opening a trading account with as little as £5. You will then be able to take advantage of the platform’s social trading feature, watch other users to your left and right, and replicate their trades. You don’t need any previous experience in stock markets or investing – pick a fund from the options provided by eToro (including its new ‘social investing’ fund), or choose another one based on which you think suits your preferences well. Once you have opened an eToro account, head over to the platform’s social trading portal at eToro.com/trading and log in with your username and password. If you haven’t set your profile name yet, do so when you make an account – it should get it the right first time.