Etoro - Questions and Help

[safejack]

Hi All

I have been seeing this share trading site on alot of Advertisements.

eToro - The World’s Leading Social Trading and Investing Platform

Trade and invest in cryptocurrencies, stocks, ETFs, currencies, indices and commodities or copy leading investors on eToro's disruptive trading platform.

www.etoro.com

I do not see a thread about it, so i thought i would start one, where people can ask for questions for those that used it or plan
on using it.

I recently tried it and still figuring things out, seeing if this is better platform than EE for USD trading, as the one issue i have with EE is the time frame to get your money to USD currency and trade.

Pros :
- No monthly cost
- Instant Currency to trade

Cons:
- Dormant fee after 12 months
- $5 withdrawal fee (Not bad depending on the amount)

 

[Natas]

I like Etoro a lot. I have been using it for a long time. Its regulated in a number of credible jurisdictions which gives me a lot of comfort. I use it for currency trading, copy trading and where I want to take a leveraged position on something. For anything where I want take a long term view on something and hold the underlying I use another platform (DMA). You can load cash on Etoro using your credit card, which makes it fast but it does cost.

Other good thing is that I know its offshore so you can liquidate back in to USD into an offshore account. Not sure what the situation with EE in this regard is, not sure if you have to liquidate to ZAR?