I've been investing using eToro for a number of years. I use eToro to buy shares, trade crypto (like bitcoin) and copy trade other people.
Here are 5 reasons that make eToro stand out from the rest of the pack:
Zero Commission Trading
In my opinion, eToro's best feature is zero commission share investing. This means you can buy shares such as Apple, Amazon, Tesla, Netflix and more without having to pay any commissions. If you were to make a similar trade through Commsec, you'd pay $19.95+.
Using eToro will save you a fortune in fees compared to other brokers.
eToro's copy trader is a great way to tap into the knowledge and expertise of more experienced traders. It's also a great tool for investing. You can browse through the profiles of thousands of traders – you can see the profits they've made in the past, the trades they've made and how risky their strategy is. And best of all you can automatically copy every trade that they make.
Each trader on eToro also has a feed that you can follow. This feed will show the trades they make and any posts that create. This is a great way to learn more about trading. And with over 13 millions members, eToro is one of the leading social trading platforms in the world.
On eToro when you buy shares such as AAPL (apple) you are buying real shares and not a CFD. While it is possible to trade CFDs through eToro, when you make a regular stock purchase you are buying the underlying asset.
There are no ongoing fees to hold these shares, and unlike CFDs you don't need to worry about leverage or contract expiry. This is great if you're looking to invest in shares for the long term.
Fractional Share Investing
Like many similar platforms such as Stake and Robinhood, on eToro you can buy fractional shares. This means you can buy just a fraction of a share such as $50 worth. This is great for companies like Tesla who's stock price is over $400!
On eToro you can start investing with as little as $50. So you don't need to be rich to own shares! This makes investing more accessible to more people.
On eToro you can trade and invest in a number of different assets. These include Shares, Forex, Commodities (like Gold, Silver and Oil), ETFs and Cryptocurrency.
I like to invest a (very) small percent of my capital in crypto. I don't need to use a seperate crypto exchange to invest in cryptos like Bitcoin or Ethereum. I can buy and own Bitcoin though eToro and invest in it alongside my portfolio of Shares.
You can also copy trade multiple people on eToro. This means you can build up a diversified portfolio where traders are making dozens of different investments in assets of their expertise. You can copy trade as well as manually trading or investing in shares. You have the freedom to build a portfolio any way you want.