Copy Trader eToro: A Critical Review by Industry Experts
eToro has solidified its status as a pioneer in copy trading, offering a user-friendly platform that not only enables novices to emulate the strategies of top traders but does so without extra commission, all while being stringently regulated across multiple continents.
eToro has firmly cemented itself as the industry leader for copy trading, offering a unique platform that allows users to follow and replicate the trading strategies of experienced investors.
The fintech company has gained unparalleled popularity and trust among traders worldwide. In 2023, market specialists have cited that this innovative social trading network continues to shine.
According to Traders Union, copy trader eToro offers beginners the chance to earn at a level similar to top participants on the platform. With a minimum investment of just $200, it provides an accessible entry point for everyone.
At the same time, eToro does not charge an additional commission for copy trading despite being the largest copy trading network worldwide.
In pursuit of security, the online platform is regulated in the United Kingdom, European Union, and Australia, providing an added layer of security for investors.
eToro’s journey in copy trading began in 2010 when it launched the ‘prototype’ of the social platform for traders. Eventually, the firm has maintained its position as the industry leader.
In accessing the platform, users can find the Copy People option in the menu on the left side of the screen. The main page showcases profiles of the most successful traders, selected by eToro’s editors and algorithms based on various indicators.
Within the ‘Stats’ section, industry experts cited that each client can study a trader’s performance in detail over different time frames, including one month, several years, and even statistics on maximum losses per month, day, and year.
Meanwhile, eToro’s trading hours vary depending on the asset class an individual wishes to trade.
For instance, the platform is available round the clock in cryptocurrency trading, working seven days a week. Unlike traditional financial markets, the crypto market never closes, providing users with constant opportunities to buy and sell digital assets.
eToro’s trading hours for Forex and global stock markets align with the operating hours of the underlying markets. These markets are open 24 hours a day, five days a week, with weekends typically being a time when trading is inactive.
Forex market open and close time is also influenced by the geographical locations and time zones of market participants.
In Australia, trading hours are from 22:00 GMT to 07:00 GMT. During this session, participants from New Zealand and Australia are active. Pairs actively traded include AUD/USD, NZD/USD, and AUD/JPY, among others.
On the other hand, the Tokyo session is the first major session to open after the weekend from 23:00 GMT to 09:00 GMT, featuring pairs containing the JPY, such as USD/JPY, EUR/JPY, and GBP/JPY.
In the United States, trading hours are from 13:00 GMT to 22:00 GMT, marking the last major Forex trading session. Pairs involving the USD, like the USD/JPY, USD/CHF, and USD/CAD, are actively traded during this session.
Remarkably, understanding the trading hours on eToro is crucial for making informed trading decisions. It is essential to be aware of the specific hours for each asset class and the factors that influence their market hours.
Experts have highlighted that eToro offers a wide range of opportunities, but trading should always be approached with caution, driven by a solid understanding of the market conditions.
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