Discussion
Anyone used this share buying platform?
EDIT:
Just wondering if anyone has used the copyfunds thing that etoro now offer, and could explain it in a bit of detail? You have to invest a minimum of 5k USD and you copy investors i think?? How does it pick the investors? Is it a relatively low risk thing to do as long as i pick a low risk sector such as technology?
Am i basically just copying the best investors? Most of them have between 20 to 80 percent yearly returns and it looks like a good way to make money??
EDIT:
Just wondering if anyone has used the copyfunds thing that etoro now offer, and could explain it in a bit of detail? You have to invest a minimum of 5k USD and you copy investors i think?? How does it pick the investors? Is it a relatively low risk thing to do as long as i pick a low risk sector such as technology?
Am i basically just copying the best investors? Most of them have between 20 to 80 percent yearly returns and it looks like a good way to make money??
Edited by dieseluser07 on Wednesday 14th February 15:56
I've been on it for 6 months and am now a popular investor. If you're verified withdrawls take 2-3 days and the fees are quite hefty, $25 regardless of what you're taking out and they obviously have a favourable exchange rate.
The platfrom is solid and backed up by the FSA up to 75k I think.
The platfrom is solid and backed up by the FSA up to 75k I think.
I started using it as every exchange I looked at had awful reviews in some aspect. Etoro was the best of a bad bunch but at least as above it is regulated. The platform is also very easy to use and it's been reliable in the past few weeks I've been using it with no crashes/down time etc. I have yet to withdraw funds as intend to hold a little longer. They also have a virtual side you can play about with before using real cash.
The social side of it is also quite interesting, where there is the ability to copy other traders portfolios & made up funds. Be careful with this feature at the moment with copy traders who are heavily invested in Crypto as naturally there %gains are favourable to normal forex/stock/commodity portfolios.
Spreads are how they make money and every exchange has a different price and spread. Etoro dictate their market prices. When any coin is moving fast the spreads are truly ridiculous (when bitcoin was bullish a few days ago the spreads were near $400, a friend that uses IQoption sent me a screen shot of a spread on there that was $2,200!!), but then some of these coins can alter -/+50% in value within a day/hours at the moment.
Verification is fast & easy also, none of this putting a banana in your mouth whilst holding a picture of your bank balance. Money deposits show up instantly in your account.
We'll see how it goes!
The social side of it is also quite interesting, where there is the ability to copy other traders portfolios & made up funds. Be careful with this feature at the moment with copy traders who are heavily invested in Crypto as naturally there %gains are favourable to normal forex/stock/commodity portfolios.
Spreads are how they make money and every exchange has a different price and spread. Etoro dictate their market prices. When any coin is moving fast the spreads are truly ridiculous (when bitcoin was bullish a few days ago the spreads were near $400, a friend that uses IQoption sent me a screen shot of a spread on there that was $2,200!!), but then some of these coins can alter -/+50% in value within a day/hours at the moment.
Verification is fast & easy also, none of this putting a banana in your mouth whilst holding a picture of your bank balance. Money deposits show up instantly in your account.
We'll see how it goes!
Classy6 said:
Be careful with this feature at the moment with copy traders who are heavily invested in Crypto as naturally there %gains are favourable to normal forex/stock/commodity portfolios.
This holds true. My portfolio is 48% stocks 48% crypto and 4% copy funds. I was at 150% this year and given the recent mania I'm now over 200%They made me a popular investor this week and 150 people are now copying me. I've repeatedly said "I am not closing off my crypto trades for at least year, unless there is some fundamental flaw/law passed" - if the crypto's retract 25-50% which could easily happen, copiers will be 12.5 - 25% down leave and think I suck...why would I close my Litecoin trades purchased $50? I've got a lot of swing room in there to ride a crash out.
Ive used paypal to deposite funds into it.
On my profile it says account verified, under address and i.d it says not required? Why is that?
Is it because its verified who i am via my paypal account?
Also what is this spread i read about? Does this mean i wont make as much money? (Like i said im new and taking it steady learning as i go)
On my profile it says account verified, under address and i.d it says not required? Why is that?
Is it because its verified who i am via my paypal account?
Also what is this spread i read about? Does this mean i wont make as much money? (Like i said im new and taking it steady learning as i go)
dbs2000 said:
The spread is how much they charge on a trade
If a stock is 100, to buy, you pay 102, if you sell you'll get 98
Great that makes sense.If a stock is 100, to buy, you pay 102, if you sell you'll get 98
Ive invested in ripple, constantly adjusting my take profit as i cant disable it which is annoying.
Is it true etoro can sell it off and i then just get the profit or can i literally make as much as possible as long as i keep adjusting TP?? It says 'TRADE' when i put money in.
dieseluser07 said:
Great that makes sense.
Ive invested in ripple, constantly adjusting my take profit as i cant disable it which is annoying.
Is it true etoro can sell it off and i then just get the profit or can i literally make as much as possible as long as i keep adjusting TP?? It says 'TRADE' when i put money in.
I think default it's set at 50% profit so you will see lots of people moaning that don't know now to adjust TP & SL that etoro is closing their trades as they've not adjusted it themselves.Ive invested in ripple, constantly adjusting my take profit as i cant disable it which is annoying.
Is it true etoro can sell it off and i then just get the profit or can i literally make as much as possible as long as i keep adjusting TP?? It says 'TRADE' when i put money in.
The maximum amount of profit you can take is 1000% from opening. However as the price goes up, you can go into the trade and keeping moving it up. As far as I know there is nowhere to disable it? We should be so lucky anyway...
Classy6 said:
dieseluser07 said:
Great that makes sense.
Ive invested in ripple, constantly adjusting my take profit as i cant disable it which is annoying.
Is it true etoro can sell it off and i then just get the profit or can i literally make as much as possible as long as i keep adjusting TP?? It says 'TRADE' when i put money in.
I think default it's set at 50% profit so you will see lots of people moaning that don't know now to adjust TP & SL that etoro is closing their trades as they've not adjusted it themselves.Ive invested in ripple, constantly adjusting my take profit as i cant disable it which is annoying.
Is it true etoro can sell it off and i then just get the profit or can i literally make as much as possible as long as i keep adjusting TP?? It says 'TRADE' when i put money in.
The maximum amount of profit you can take is 1000% from opening. However as the price goes up, you can go into the trade and keeping moving it up. As far as I know there is nowhere to disable it? We should be so lucky anyway...
Whats your thoughts on the crytocurrency xrp??
As above takes about 3 days to withdraw money, charges for certain amounts, I knew nothing about trading and wanted to learn. Put £300 in that I was ok to lose and then £1500 as ballast. Doing small trades with no more than $50 to gain/lose. At one point I was $500 up, pulled out at $2k total and I think it cost me $25 but the dollar to £ was in my favour as well.
Currently I have £50 in my account and plan to see if I can hit £200 with micro transactions. I don’t have enough money to make it worthwhile but it’s a fun game to play when bored.
Currently I have £50 in my account and plan to see if I can hit £200 with micro transactions. I don’t have enough money to make it worthwhile but it’s a fun game to play when bored.
meehaja said:
As above takes about 3 days to withdraw money, charges for certain amounts, I knew nothing about trading and wanted to learn. Put £300 in that I was ok to lose and then £1500 as ballast. Doing small trades with no more than $50 to gain/lose. At one point I was $500 up, pulled out at $2k total and I think it cost me $25 but the dollar to £ was in my favour as well.
Currently I have £50 in my account and plan to see if I can hit £200 with micro transactions. I don’t have enough money to make it worthwhile but it’s a fun game to play when bored.
Can i ask, did you have to provide identification and proof of address? Currently I have £50 in my account and plan to see if I can hit £200 with micro transactions. I don’t have enough money to make it worthwhile but it’s a fun game to play when bored.
I havent give any in but its saying account verified
Cancelling stop losses is not a good sign, is it? People are trading on leverage.
eToro's current BTC spread is over 250 (plus any slippage). Today's range is 1500 pips, but who accepts a spread a 6th of the daily range? That's like having a 13 point spread on today's DAX range.
They must be loving all their customers willing to put up with that.
eToro's current BTC spread is over 250 (plus any slippage). Today's range is 1500 pips, but who accepts a spread a 6th of the daily range? That's like having a 13 point spread on today's DAX range.
They must be loving all their customers willing to put up with that.
Wow...ty for all the responses!
So here's my issue; what started out as a pure fun punt to invest in the cheapest-crypto-product-I-could-find , has turned into a bit of a decent home run (Ribble - XPR).
Now, my problem is the recent moves have seen me unknowingly take profit when I didn't even want it. Im long at a level which means Im happy to walk away and forget about it as opposed to having to watch and re-buy every few days due to its jumps.
So:
1. Does anyone know how to cxl the auto profit take feature?
2. As I understand it, longs in XPR own the underlying whereas shorts are CFD's. By default, CFD's will be regulated but i didn't properly find who the reg authority is for the platform - US or UK? If longs own the underlying, how would the delivery mechanism take place or it simply cashes out on Etoro?
Forgive me in advance for the two questions for starter above - I didn't expect to end up with the situation ive now got so have to, I suppose, get serious with what to do next.
Ty again all for your posts so far.
edit; just realised this isn't my original post but someone else but same q's apply if anyone can help!!
So here's my issue; what started out as a pure fun punt to invest in the cheapest-crypto-product-I-could-find , has turned into a bit of a decent home run (Ribble - XPR).
Now, my problem is the recent moves have seen me unknowingly take profit when I didn't even want it. Im long at a level which means Im happy to walk away and forget about it as opposed to having to watch and re-buy every few days due to its jumps.
So:
1. Does anyone know how to cxl the auto profit take feature?
2. As I understand it, longs in XPR own the underlying whereas shorts are CFD's. By default, CFD's will be regulated but i didn't properly find who the reg authority is for the platform - US or UK? If longs own the underlying, how would the delivery mechanism take place or it simply cashes out on Etoro?
Forgive me in advance for the two questions for starter above - I didn't expect to end up with the situation ive now got so have to, I suppose, get serious with what to do next.
Ty again all for your posts so far.
edit; just realised this isn't my original post but someone else but same q's apply if anyone can help!!
Edited by kurt535 on Saturday 16th December 15:19
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