How to Buy Shares on eToro: A Step-by-Step Guide for 2023

Getting Started: Opening an Account on eToro

Before you can buy shares on eToro, you’ll need to open an account. Here’s how:

Step 1: Register for a Free Account

Go to eToro’s website and click the “Sign Up” button. Fill out the required information, including your email address, username, and password. You can also sign up using your Google or Facebook account.

Step 2: Verify Your Identity

After registering, you’ll need to verify your identity to comply with regulatory requirements. Upload a clear photo of your government-issued ID and a recent utility bill or bank statement to confirm your address. eToro will review your documents and approve your account within a few business days.

Step 3: Deposit Funds

Once your account is verified, you can deposit funds using various methods such as credit/debit card, PayPal, bank transfer, and more. Check the minimum deposit amount for your region and currency.

How to Buy Shares on eToro: A Step-by-Step Guide

Step 1: Log In and Navigate to the Trading Platform

Log in to your eToro account and click on “Discover” in the left sidebar.

This will take you to the trading platform where you can search for and select the shares you want to buy.

Step 2: Search for Your Desired Shares

Use the search bar at the top of the page to find the shares you’re interested in. You can search by company name, ticker symbol, or market sector.

For example, if you want to buy Apple shares, type “Apple” or “AAPL” in the search bar.

Step 3: Analyze the Stock

Before buying shares, make sure to analyze the stock and review its performance, financials, and news. Click on the stock’s name to access its profile, where you can find charts, statistics, and other relevant information.

Step 4: Open the Trade Window

Click the “Invest” button on the stock’s profile to open the trade window.

Here, you can set the parameters of your order, such as the amount you want to invest and the order type.

Step 5: Choose Your Order Type

There are two main order types on eToro: market orders and limit orders. Market orders are executed immediately at the current market price, while limit orders are executed when the stock reaches a specified price. Choose the order type that best fits your trading strategy.

Step 6: Set the Trade Parameters

Enter the amount you want to invest in the stock, keeping in mind the minimum investment requirements. You can also set a stop loss or take profit level to manage your risk and secure your profits.

Step 7: Execute the Trade

Review your order details and click the “Open Trade” button to execute the trade. Congratulations! You’ve just bought shares on eToro! 🎉

Pros and Cons of Buying Shares on eToro

Before you start buying shares on eToro, it’s essential to consider the platform’s advantages and disadvantages.

Pros

• User-friendly interface: eToro’s platform is designed for both beginners and experienced traders, offering an intuitive and easy-to-navigate interface.
• Social trading features: eToro enables users to follow and copy the trades of top-performing traders, making it easier for beginners to learn from experienced investors.
• Wide range of assets: eToro offers a vast selection of stocks, cryptocurrencies, commodities, and other assets to diversify your portfolio.
• Commission-free trading: eToro offers commission-free trading on stocks and ETFs, making it more affordable for investors.
• Educational resources: eToro provides various educational resources, such as webinars, articles, and video tutorials, to help users improve their trading skills.

Cons

• High fees for certain assets: Although eToro offers commission-free trading on stocks and ETFs, the platform charges high fees for other assets, such as cryptocurrencies and CFDs.
• Withdrawal fees: eToro charges a withdrawal fee, which can be a disadvantage for traders who frequently withdraw their funds.
• Limited customer support: Some users have reported slow response times and limited support from eToro’s customer service team.
• Not available in certain countries: eToro is not available in some countries due to regulatory restrictions, limiting the platform’s accessibility.

Conclusion

Now that you know how to buy shares on eToro step by step, you’re well-equipped to start investing in the stock market. Remember to conduct thorough research, consider the pros and cons of each investment, and stay informed about market trends to build a well-balanced portfolio. Happy trading! 🚀

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GENERAL RISK WARNING

• ▸eToro is a multi-asset platform that offers: Stocks, Crypto assets, and CFDs.
• ▸CFDs are complicated and can make you lose money quickly because of leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. Think about if you understand how CFDs work and if you can afford to take the 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 does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
• ▸Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
• ▸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.

Be warned!

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Author & Expert Trader - Financial Analyst :

My name is Bart Bregman and I am a full-time professional trader with nine years of experience. I specialize in shorter-term trading using technical analysis, and I have extensive experience with Stocks, CFDs, Options, and Crypto trading. I believe that there is no such thing as a bad trade. I'm currently traveling the world as a digital nomad trader. You can follow my journey on Instagram at https://www.instagram.com/bart_bregman/