Are you looking for a easy way to invest in a stock market? eToro offers an simple way to buy stocks and crypto assets. However, buying order can be intimidating at first. That is why we created this guide to help you invest money in your favorite stocks.
Disclosure
I am not a financial advisor. The ideas presented in this blog post are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make. Before investing, make sure you do your own analysis. This blog post may contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the blog. Thank you for the support!
What is eToro?
eToro is a multinational social trading and multi-asset investment company that provides financial and social trading services. A big part of the eToro business is that you can copy other traders and their trades. Many popular investors on eToro make good returns each month, and if you like their results and system, you can copy their trades.
eToro also offers paper trading or using demo account. This is a great way to improve your trading skills. You start with $100k and you can buy and sell shares and crypto assets. You can practice before you invest your own money.
How to open a trade on eToro?
Before you start buying and selling shares you need to find an instrument or asset that you like. I will be using my demo account in order to show you the steps on how to open trade on eToro.
- In the search bar at the top you can type in the name of a company that you want to trade. Or you can search by ticker symbol. For example, MSFT is Microsoft, AAPL is Apple, TWLO is Twilio, and so on. (STEP 1)
- You can also search for crypto on eToro. I will search for Bitcoin (BTC). You can then click on “Trade” in order to open more information about that asset. (STEPS 2 & 3)
- Then, you can click on “Trade” on the left side. This will open an order panel for you. (STEP 4)
- On the order panel, you have to be pay attention to a few things. At the top, you can choose between Sell and Buy. (STEP 5) Since we are buying the asset, you will click on Buy. Sell is for short selling. Then you have the option to trade (execute market order – the current price) or place an order (set a certain price at which you want to buy the asset). (STEP 6) For the simplicity, I will leave it as trade (market order). Then, you can switch between amount and units order. (STEP 7) I like to open my trades in units. I already know how much each asset costs and that is why I always pick units. For example, 2 stocks at certain price. On eToro you can buy fractions. In our case, I will buy half of Bitcoin (0.5 units). Then, you can set your Stop-Loss and Take-Profit. I leave those as default. However, I’m always careful with leverage. (STEP 8) I always pick x1 (meaning no leverage). Once you are done with your selection, click on Open trade at the bottom. (STEP 9)
- By clicking on the portfolio button (pie chart icon) on the left side menu, your portfolio will open and you will see all your assets you purchased. (STEPS 10 & 11)
Read more on our blog: eToro vs Revolut
