If you’re interested in making profits by copy trading, the eToro copy trader service may be an option. Some traders report gains of up to 450% in months. In this eToro copy trader review, we’ll look at the service’s features and inactivity fee, as well as whether or not it’s profitable.
NMarijus achieved a gain of 450% over five months
If you want to copy a trader’s trading strategy, you should check whether his strategy is still profitable. It may not work anymore due to the changes in the market. For example, his strategy to make a 450% gain over five months might not work today.
eToro’s copy trading service is profitable
A copy trading service can make you money by copying another trader’s trades, but it can be risky. It is best to be aware of the risks involved and understand your chosen trader’s strategies. While most forex social trading platforms track the highest ROI, many other factors to consider, such as a trader’s style, track record, and imagination.
If you have the proper trading knowledge, you can make substantial money by copying another trader on eToro. Depending on how much you invest, you can make a profit of up to 5% per year by following a trader. If you are new to trading, it is advisable to invest a small amount, to begin with.
eToro’s inactivity fee
eToro charges an inactivity fee every month for inactive accounts. To avoid the fee, you must log into your account within the past 12 months or four months if you don’t have any funds. This fee is separate from the fees for deposits, exchange rates, and withdrawals, which you pay separately. You may want to withdraw less often or make larger withdrawals to avoid the fee.
eToro is different from many other online brokers in a few ways. For instance, you will not have to pay a commission when you open a trade, and the commission will be deducted when you close a position. In addition, the fee doesn’t apply to stock portfolios. eToro also doesn’t charge a clearing fee for its clients, which is a welcome relief. However, there are other fees you should know about.
Choosing a trader to copy
When choosing a trader to copy on eToro, it is essential to remember that different traders have different strategies and preferences. Therefore, it is essential to consider your personal preferences, risk tolerance, and investment goals before choosing a trader to copy.
Before copy trading, you must choose a trader with a proven track record. You may be interested in a trader who has been consistently profitable for the last few years, but that does not mean they will continue to be profitable in the future. Markets are volatile, and a trader’s profits can fluctuate. Therefore, it is best to diversify your portfolio to minimize the risk of losing money.
When choosing a trader to copy on eToro, look for a top-performing trader. A high-performing trader will focus on a specific market or asset class. For example, you can choose to copy a trader who holds significant positions in stocks like Amazon, Alphabet, and Microsoft. You can also choose a trader based on their historical ROI and risk rating.
Using the platform
The eToro copy trader platform allows you to replicate the trades of other traders while maintaining a moderate level of risk. This feature will allow you to learn from the best traders on the site and achieve sustained profitable growth. You can copy long and short trades, stocks, and dividends.
Once you’ve installed the eToro copy trader, you can copy other traders’ open trades. You can also copy future trades. In the case of future trades, only new positions are copied, but you can disable this feature to ensure that you won’t duplicate the trader’s open positions. The copied trader’s open positions will be opened in your account based on the market rates at the time you copied them. You’ll have the same Stop-Loss and Take-Profit as the original trader.
Using the Etoro copy trader is extremely simple. It requires a minimum capital outlay of $200 to copy one trader. With this minimum capital, you’ll be able to diversify across up to five different traders to counteract bad periods with profitable trades. Researchers at eToro have done extensive research into the best traders to copy. They’ve considered a variety of metrics to identify which traders have the most potential to produce profitable returns. They also looked at the level of risk associated with their trades.