I was doing some research on Forex partners and stumbled across eToro. What is unique about their platform is that their focus is on the social trading platform. What I mean by this is that you can actually see and follow other forex traders on the platform and if you want you can even copy their trading habits. For serious traders this may seem a bit strange, but for newbies like me this was very interesting and knowing that I could join for free and trade virtual currency prior to making any real deposits was a real bonus. They have introduced several ground breaking tools such as:
CopyTrader and GuruFinder.
Copytrader allows you to basically do just that. Because of the social nature of the trading platform you can copy a trader that you see is doing very well. You can research their history over a one week, month or year time period and see what they are trading and when. You simply hit copy and then your dollars are allocated at the same percentage that they would use. I have included the video which explains the simple process:
The GuruFinder enable you to find the best traders for a specific time period or commodity. So you can see and follow various traders that are making real trades and then copy their trades or even chat with them about their positions. This presents a unique way to trade online and they have even introduced stocks in a limited fashion since their major focus for most of the online Forex traders is currency and commodities like Gold and Silver.
I would also like to add that while the eToro is free to join and you can trade with virtual currency any real dollars invested should be done so at your own risk and only be willing to invest amounts in which you are comfortable losing.
Here is the current news streaming:
OPen trade is the updated platform where you see and manage trades on eToro. Look at this video to see the explanation.
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