Etoro

eToro OpenBook Review

eToro is one of the leading social investment networks. Today we’re going to take an in-depth look into the entire network to see if it really stands up to the competition, and whether or not you should sign up with them today as a new trader.
What Is eToro?                         

First off, eToro connects traders all around the world and allows the sharing of investment information, copying of trades ( auto-trading), and strong networking opportunities. The main markets that eToro operates in are currencies, commodities, and indices. They have a proprietary social trading platform that they call the “OpenBook” which makes all of this seemingly-complicated trading to be extremely simple.

They launched all the way back in 2007, came out with the WebTrader online-app during 2008… and currently have around 1.8 million members.
What Are The Benefits To Joining?

eToro has a ton of valuable features including:
Full-Access currency trading platform with enterprise-level design
Connect with traders all around the world (140+ countries)
Openbook + WebTrader web apps… discuss trades with pros and copy their moves
A simple way to leverage your trading knowledge to make money

As you can see, they have put a ton of money into making this not only an awesome trading platform but also a social network that is devised 100% around helping you make more successful trades. The main selling-point of eToro (as well as any other social trading platform) is that you have unlimited access to professional trading advice due to the social networking aspect.

Never before have people been able to make the same trades (what they call auto-trading) as professionals, so that if they see a 45% gain in their money… so do you. Effectively, they have created a win-win scenario where the best traders make a bit of money from telling the world all about their best trades, while everyone who follow’s them makes more money through safer, smarter, and more lucrative trading.

Is It Extremely Easy To Make Money With eToro?

Well, with any type of investing, they are inherent risks. Obviously the more money you wager, and the more risks you take will lead you towards either high rewards or losing a bunch of money. eToro’s idea is very smart — you get to leverage the knowledge of professionals, and they get paid a small free from eToro… but if you want to make serious money you are going to have to work at it.

Instead of spending your time analyzing commodities, stock prices, and other data analysis, you now have to manage and monitor your traders. So let’s say you’re breaking your auto-trade investment money up into ten different traders to keep your money diversified, you now have ten people to watch each month to make sure they are performing well. In my opinion this is definitely a superior option to making the trades yourself, if you are uneducated/inexperienced in this field, but its not as simple as “sit back and watch the money roll in.”
What Does It Cost?

Fortunately, registration into the eToro network is 100% free. They make their money when you make trades (think of it as a tiny administration fee for running your trades through the network) and they actually pay you, for anyone following your trades (if you are one of the pros).

So what are you waiting for? Test out eToro today with a free account.