How to Use the eToro App - A Comprehensive Guide [year]

How to Use the eToro App

The eToro app offers a beginner-friendly trading screen for manual trading. There is no learning curve, and using the app only requires a few clicks unless traders enable one-click trading.

Here is a quick guide on how to place your first trade after you have verified and funded your account:

• Log into your eToro app.
• Find the asset you wish to buy and click “Trade”.
• In the order window, you can trade at the market rate, the default setting, or click "Rate" to set a pending order at your desired price.
• You can also select the total amount you wish to trade or click “Units” to choose how many units of the asset you want to buy.
• Review your order, pay attention to the details, and click "Set Order" to place your order.

Noteworthy:

• The News Feed is a sentiment-based research tool analysing eToro traders' trends.
• The News and Analysis section features in-house eToro research.
• Traders can view analyst recommendations for stocks in the Market Analysis section.

App Support and eToro Investment Protection

eToro is a secure broker, which also applies to the eToro app. Clients have quality support available 24/7.

I find the following features noteworthy:

• Investor insurance protection.
• Segregation of client deposits from corporate funds.
• Negative balance protection.
• Internal security protocols.
• Account alerts and logging history.
• 24/5 live chat support and detailed FAQ section.

Getting Started Trading on eToro

Getting started with the eToro app is simple. Traders can explore the demo account within minutes and the live account usually within one business day.

A quick-start guide:

1. Open an account and download the eToro app.

2. Explore the demo account until you feel comfortable opening a live account.

3. Verify your account.

4. Fund your account.

5. Decide if you want to trade yourself, copy others, or invest for the long term.

6. Monitor your portfolio, fine-tune your approach, and adjust your portfolio as necessary.

How to Use CopyTrader in the eToro App

The eToro CopyTrader function is at the core of the eToro app and the most popular tool eToro provides.

Steps for Using CopyTrader

1. Locate “CopyTrade” in the “Discover section” of the eToro app near the top of the “Overview” menu.

2. The CopyTrader page displays the most popular signal providers.

3. Use the filters to narrow down your search parameters.

4. Evaluate the “Risk Score.”

5. Click the “Copy” button of the signal provider you wish to follow.

6. Enter the amount you wish to commit.

7. Click “Invest.”

Smart Portfolios

The eToro app also includes Smart Portfolios, thematic in-house managed buy-only investment portfolios. Investors start by selecting their core, with asset allocation guidance by Black Rock, an industry leader in passive investments.

Investors must commit between $500 and $5,000 as an initial investment, dependent on the portfolio.

Smart Portfolio Cores

• Core Equity for risk-ready investors.
• Core Dynamic for forward-thinking investors.
• Core Moderate for moderate investors.
• Core Stability for cautious investors.
• Core Income for risk-averse investors.

Watchlists and Alerts

Traders can use watchlists and alerts in the eToro app to help them navigate the 5,000+ assets available on the eToro trading platform.

Watchlists are best for:

• Traders who do not have enough time to research a trading idea and want to analyze it at a later time.
• Traders who want to monitor the performance of CopyTrader signal traders.
• Investors who wish to evaluate Smart Portfolios.

Alerts are best for:

• Traders who have a multi-asset portfolio.
• Traders with multiple watchlists spanning several assets.
• Trades who want price alerts based on percentage moves or value moves.

Using a Demo Account

The eToro app offers a $100,000 demo account, and traders can easily switch between demo trading and live accounts. The eToro demo account is ideal for copy traders, as it does not expire and allows traders to monitor signal providers. The same applies to investors and Smart Portfolios.

Demo trading does not grant exposure to the full range of trading psychology and can create unrealistic trading expectations. Therefore, I want to caution beginner traders when using demo trading as a simulatory tool, as real money account conditions are usually different, in addition to the added psychological stress when risking real funds.

eToro App - Pros and Cons

Before traders install the eToro app, they should consider the pros and the cons.

The Pros of the eToro App

• User-friendly interface
• In-house copy trading via CopyTrader
• 30M+ trading community
• Smart Portfolios for long-term investors
• Secure broker and platform
• Balanced asset selection
• Unlimited demo account

The Cons of the eToro App

• Few advanced features
• No algorithmic trading

Bottom Line

The eToro app is a user-friendly trading app ideal for copy traders. It shines with CopyTrader, Smart Portfolios, its 30M+ trading community, its 5,000+ assets, and its expanding cryptocurrency presence. Therefore, I rate the eToro app as an excellent choice for passive traders and investors. For additional information on eToro, you can read our up-to-date eToro Review.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Don’t invest unless you’re prepared to lose all the money you invest.

This is a high-risk investment and you should not expect to be protected if something goes wrong.

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eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.