eToro is a social network application that allows users to see the financial trading activity of others. It enables them to connect with over 1.5 million traders on the web through the OpenBook investment network. This platform encourages the user to invest, learn, and share pertinent information regarding trading.
Upon logging in, the trades of the user are automatically uploaded and displayed statistically. It gives live market rates for both global and local trades. The data are displayed as charts that are quite easy to understand. The type of financial services that can be viewed includes stock indices, commodities, and forex.
Uploaded information such as the amount of profit acquired can be viewed by other users. Because all information is uploaded for everyone to see, the other users can opt to follow traders of their own choosing. When it happens, the application will duplicate the trade. This is done through the application’s CopyTrader feature. By employing the Social Guru Trader program, the user can earn money whenever someone copies his investments.
EToro is simply a platform, not a broker, which works with the third party broker system through an API. It is featured with an easy sign-up process that allows the user to fund an account in just a short amount of time through any credit card or Paypal.