Social Trading with eToro from Jersey [Commission Free on Stocks]
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.
eToro is regulated by several top-tier, well-trusted regulatory bodies.
This regulation, along with a longstanding history of putting traders first, makes eToro a very safe broker choice
It's "Social Trading" features are simply outstanding.
If you are a Forex trader, eToro should not be your Top choice.
Is eToro available in Jersey?
First things first, many locals ask about the availability of eToro, and the answer is yes, eToro is available to clients who live in the Channel Islands.
What is eToro?
eToro is an online broker that offers one of the top trading platforms worldwide. Founded in 2007, the company is headquartered in Cyprus. eToro is known for being the most important Social Trading platform: Allows investors to research other users' investment strategies. When saying investment strategies, we are not only referring to general parameters but practically all trader's investment history, orders, traded financial assets, and track record (Earnings or historical losses). With all this available info, eToro then allows users to "Copy" other users' portfolios and, in turn, allows one to be copied by other users (as long as the profile is set up as public). This means that you may attract traders to invest in your own trading strategies, which in turn generates money in the form of commissions.
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, which is registered with FinCEN as a Money Services Business.
eToro Australia Pty Ltd is regulated by the Australian Securities & Investments Commission (ASIC).
UK's FCA is considered the strictest regulator in the world, implying that eToro is a very reliable Broker, since it has to comply to very strong regulation on its operation and customer care.
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, there are some that 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, a maximum value is specified at which the trade should be closed automatically when the desired price is reached. 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 minimize the losses of the trade to the specified price level.
Limit Order: A limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
Leverage Level: eToro's platform allows Traders to choose the level of leverage with which they intend to invest in the financial instrument. Depending on the instrument, the level of available leverage will vary. In particular for equity markets, when leverage level 1 is chosen, you are acquiring an instrument as you would acquire the actual stock.
Forex & CFD instruments offered by eToro
Forex: +47 currency pairs – Majors, minors, and exotics.
Stocks: eToro offers +1,800 CFDs on Stocks from 12 major Stock Exchanges, among which there are the New York Stock Exchange, Nasdaq, London Stock Exchange and Xetra, four of the most popular Stock Exchanges among investors.
ETFs: CFDs on 145 ETFs from iShares, Vanguard, PIMCO, Invesco, Market Vectors, Horizons, among other asset managers.
Commodities: CFDs on 13 commodities, being Gold and Oil the most popular among traders.
Indices: 13 major stock exchanges indices.
Cryptocurrencies: CFDs on 17 cryptocurrencies.
Thematic Portfolios: eToro offers CFDs on 19 Trading ideas [Portfolios] like Food And Drink, eSports, 5G among others.
Social Trading: As mentioned before, eToro offers the possibility of acquiring portfolios developed by other traders using the platform via it's 'CopyPortfolio' feature.
eToro's CFD Trading Account
How can I open a Trading account with eToro from Jersey?
Opening a Forex and CFD trading account with eToro from Jersey is a process that is carried out online and takes only a few minutes: The process is simple and requires: (a) a Valid ID and (b) a proof of address (electricity, water bills, etc.), which are scanned through the platform. The methods of depositing and withdrawing money are:
- Credit Cards
- International Bank Transfer
It is important to emphasize that Opening a Demo Account is Free, that is, you can try the Demo, test the platform and then decide whether you will deposit or not. And remember a very interesting fact: Opening an account with Real Money requires USD200 only.