eToro: Social Trading Giant
eToro is a popular online trading platform founded in 2007. The platform's design makes investing and trading accessible to everyone, regardless of their experience level.
eToro is known for its innovative social trading features, which allow users to interact with other traders and copy their trades. In addition to social trading, eToro offers a wide range of assets to trade, including stocks, cryptocurrencies, commodities, and forex.
What Makes eToro Stand Out?
One central aspect that sets eToro apart from other trading platforms is its social trading features. For example, with eToro's CopyTrader and CopyPortfolios, users can copy the trades of successful traders, which can be especially helpful for those new to trading. Additionally, eToro's user-friendly interface and design make it easy for users to navigate the platform and access the necessary information.
Key Features and Benefits of eToro
Wide Range of Financial Instruments: eToro offers access to various financial instruments, including stocks, commodities, currencies, and cryptocurrencies. With over 2,000 different assets available to trade, eToro provides traders and investors plenty of opportunities to diversify their portfolios.
Social trading features: One of eToro's unique features is its social trading capabilities, which allow users to follow and copy the trades of other successful traders on the platform. CopyTrading is a valuable mechanism for beginners looking to learn from experienced traders or for busy investors who want to take a more hands-off approach to trade.
User-friendly interface: eToro's user-friendly interface makes it easy for users to navigate the platform and access the various trading tools and features. Whether you're a beginner or an experienced trader, eToro's intuitive design ensures a smooth user experience.
Regulated platform: eToro is regulated by reputable financial authorities in multiple jurisdictions, including the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) in Australia, which ensures that the platform adheres to strict security, transparency, and financial stability standards, giving users peace of mind when trading on the platform.
Education and research tools: eToro offers a range of educational and research tools, including webinars, video tutorials, and market analysis, to help users improve their trading skills.
How to Open a Trading Account with eToro from Hungary
If you're interested in checking out eToro's Trading App, there are a few key steps you'll need to follow.
First, register at etoro.com (You may try a Demo Account). You'll be requested to provide basic information, such as your name, email address, password, country of residence, and phone number. You'll also need to agree to the platform's terms and conditions.
Once you've registered, you'll need to verify your account. eToro requires all users to complete a verification process to comply with regulatory requirements by uploading proof of ID and address, such as your Személyi ID card or Passport and a utility bill.
After sending the documentation, you can log in to eToro's Demo App and explore it. To start trading, you have to deposit funds. But, before, it is recommended to try out the interface, open and close a few demo orders, and browse the available asset classes.
Once eToro verifies your account, you can deposit funds into your account using various payment methods, including credit cards, bank transfers, and e-wallets. We detail every alternative in further paragraphs.
Once your Trading account is ready, you can buy your chosen asset. eToro makes this step easy by listing the available traders and their performance metrics. Also, you may use the search function to filter and find traders specialising in particular instruments, trading strategies, and historical performance, among other indicators.
Depositing Funds at eToro from Hungary
There are two things to consider when you deposit funds at eToro (and on any other broker). First, it supports your preferred banking method, and second, the minimum deposit amount.
Here is a list of eToro's depositing methods available to Hungarian based clients:
Credit and Debit Cards: Available for deposits in USD, GBP, EUR and AUD. It supports Visa, MasterCard, Visa Electron and Maestro. Transactions will appear on your statement as 'Etoro' or 'www.etoro.com'.
Bank Transfers: Funds will reach your trading account in 4-7 days. Remember to quote the Transaction ID to prevent delays in crediting the funds.
PayPal: Available for deposits in USD, GBP, EUR and AUD. You may use funds in your PayPal account or use the credit/debit card linked to it.
eToro is very accessible when it comes to the required minimum deposit; the minimum deposit amount required in Hungary is 50 US Dollars.
Hungarian Financial Assets offered by eToro
Indices: eToro offers the EuroStoxx50, which tracks the performance of the 50 largest European companies, focusing on the eurozone.
FX pairs related to the Florint: CHFHUF, EURHUF, GBPHUF, USDHUF.
If you wish to trade international assets like US Stocks or Cryptos, check out the complete list of eToro's tradeable assets.
Is eToro a trustworthy broker?
eToro is regulated in the UK, US, Cyprus and Australia:
eToro (UK) Ltd. is regulated by the Financial Conduct Authority (FCA),
eToro (Europe) Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) and retains a cross border license from the CySEC to offer its services in member states of the European Economic Area, and outside of it.
Member of the NFA (National Futures Association).
eToro USA is operated by eToro USA LLC, registered with FinCEN as a Money Services Business.
eToro Australia Pty Ltd is regulated by the Australian Securities & Investments Commission (ASIC).
UK's FCA can be deemed the strictest regulator globally, implying that eToro is a very reliable Broker since it has to comply with robust regulation of its operation and customer care. Being a citizen of the EU, your account would fall under the Cypriot eToro.
eToro's CopyTrader Platform
Since eToro's Social Trading platform was launched in 2010, the Broker has incorporated many improvements to its platform, including the possibility of choosing the leverage level of each trade, the possibility that any average Joe may receive commissions when copied by other investors [By becoming a 'Popular Investor']. eToro's Trading platform also allows 'copying' thematic portfolios in the "CopyPortfolios" section. Among some of the thematic portfolios available, some invest in Cryptocurrencies, Medicinal Cannabis, Travel Industry, BioTech, Internet, Drones, among many others.
Bid and Ask order types available on eToro's Platform
When trading any financial instrument, eToro's Trading platform allows the following functionalities:
Take Profit: When using this functionality, you may specify a maximum value when the trade should be closed automatically. In other words, if a financial asset rises, the trader can "protect the profits" by cashing in the profits.
Stop Loss: Alternatively, when using the Stop Loss functionality, a minimum price should be specified at which the position traded on the financial instrument should be closed automatically. In other words, if the financial asset's price falls, the trader can minimise the losses of the trade to the specified price level.
Limit Order: You may use a limit to buy or sell a stock at a specific price or better. A buy limit order is executed at the limit price or lower, and a sell limit order is completed at the limit price or higher.
Leverage Level: eToro's platform allows Traders to choose each trade's leverage level. Depending on the instrument, the level of available leverage will vary. In particular, when you select leverage level 1 for equity markets, you are acquiring an instrument as you would obtain the actual stock.
eToro's trading platform is simple to use and has an excellent user experience.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro
HOW TO TRADE WITH ETORO FROM HUNGARY [0% COMMISSION ON STOCKS]
You have reached our guide on eToro, a trading platform that offers a range of financial assets to traders and investors worldwide. With over 30 million registered users worldwide, eToro has become a popular choice for those looking to trade various assets, including stocks, commodities, currencies, and cryptocurrencies.
In this article, we'll provide a step-by-step guide on how to open an account to start trading with eToro from Hungary and answer the most common questions about the platform. So, let's get started.