Table of contents:
- 1 The eToro demo account at a glance – extensive access to the trading platform
- 1.1 Social trading as a focus – also in the demo account
- 1.2 Demo accounts generally bring these advantages
- 1.3 The registration for the eToro demo account
- 1.4 Get to know Social Trading with the demo account
- 1.5 eToro CFD demo account – find the right values with the advanced search
- 1.6 The watchlist as a reminder
- 1.7 Open trades via the eToro demo account
- 1.8 Test hedges via the demo account
- 1.9 Use demo account for risk-free tests
- 1.10 The additions to the eToro demo account
- 1.11 Discover the tradable values at eToro
- 1.12 Trade with cryptocurrencies via eToro
- 1.13 eToro’s customer service – support for traders
- 1.14 Conclusion: The eToro demo account offers effective options
The provider eToro is one of the largest trading communities worldwide. Furthermore, eToro is one of the providers who have made social trading marketable. Users of the broker are not on their own. They can learn how to build their portfolio, identify risks and opportunities, and get high returns by using an interesting system.
Experienced traders provide their knowledge for this. But risks are also present at eToro. That makes it all the more important to take your time and get to know everything when getting started. A great help is the eToro demo account. A comprehensive test will check how well it is set up.
Facts about the eToro demo account at a glance:
- Free demo account
- No time limit for use
- Full access to the trading platform
- 100,000 USD virtual credit
The eToro demo account at a glance – extensive access to the trading platform
The eToro demo account is a bit hidden on the platform. The broker himself doesn’t advertise this offer much but makes it available to his traders. One of the biggest advantages is that users of the offer have full access to the trading platform. Those who have signed up with their eToro test account will see the interface just like in the real money area.
This means users can copy trades or even open them themselves. In the personal account, the markets can be viewed. This is where the broker focuses on different asset classes that may be of interest to his traders. The balance on the demo account has a value of 100,000 USD. This virtual amount is available to every trader. He can now rest in peace and quiet where the advantages of the broker lie. A first deposit is not necessary to use the account.
Social trading as a focus – also in the demo account
eToro cannot be compared to a classic broker. The provider focuses on social trading and thus on the idea of acting in a community. The possibility to take over portfolios or to copy parts of them should make it much easier especially for beginners. Therefore, the demo account offers the possibility to familiarize with the idea, to get to know the traders on the platform as well as their ideas and goals, and to start taking over portfolios – without any risk.
Demo accounts generally bring these advantages
Not only the eToro forex demo account is a great help for traders to learn about the markets and improve their ability to take successful positions. Demo accounts have been offered by brokers for several years now and offer many advantages, especially for traders. The idea behind them is the same everywhere. Traders should have the opportunity to get to know the broker and his offer and to make their first experiences without the risk of losses. In summary, the advantages are as follows:
- Risk of loss: In CFD and Forex trading, the chance of a return is high. But losses can also occur. Since trading is often done with a lever, the losses should not be underestimated. A demo account is used to trade with virtual money, losses have no effect on your own capital.
- Extensive knowledge: Experience is the most important aspect in trading. This can be gained via the demo account. It is not only about getting to know the trading platform. Developing a feeling for prices and suitable underlyings is also encouraged by a test account.
- Observe positions: Opening positions are easy to observe and react correctly, but requires extensive knowledge. In the test account, the positions can be observed at leisure. Intervention is possible at any time. But also the testing of the own risk tolerance is in focus.
A good demo account gives the trader all the possibilities that are also provided by a real money account.
The registration for the eToro demo account
To use the eToro demo account you need to open a real money account. The registration is done via the website. Only a few details are required in the first step. The trader provides his email address, name, and phone number. Then he gets access to the account.
The access is set up for the real money account. To use the virtual eToro account you need to select it. On the left side of the internal area, you can see a menu. Here users can choose if they want to use the real or the virtual portfolio. If they decide to use the virtual depot it will be opened. It now shows how much credit is available, what amount has been allocated, and how much has been won so far.
Confirmation and verification are possible afterward
In order to use the eToro demo account, confirmation and verification are not necessary. Both are only required when trading with real money. For confirmation, the broker sends an email to the email address provided by the trader. The mail contains a link that must be selected to confirm the account. The verification is done in the internal area. It is a classic verification with proof of identity and personal address.
Note: It may take a few days to complete the verification. It is therefore recommended that you perform it immediately in order to be able to open positions directly with real money after the practice period.
Get to know Social Trading with the demo account
eToro is one of the few providers that offer social trading. As a leading network in this field, the company has been gaining experience for years and uses it to provide traders with an optimal basis. Social trading focuses on several points:
- Get to know the portfolios of other traders
- Exchange of knowledge with experienced traders
- Simplified entry into trading for beginners
- Get to know strategies and execute them yourself
Social trading brings advantages to both sides. First and foremost, beginners profit. They have the chance to get an overview of different strategies and their development at their leisure. The experts work with different strategies. Social Trading thus offers a comprehensive insight into the strategy variants. Experts who make their knowledge available benefit from as many followers as possible who copy their portfolio. In this way, they can generate income.
If you are not sure if social trading is the right way to go, you can find out with the eToro demo. CopyPortolios can be viewed in the account. You can choose between the Market Portfolios and the Top Trader Portfolios. Partner portfolios are also offered. The individual portfolios are marked with a risk level. You can also see how much profit you made within the last 12 minutes. Losses are also visible. If a portfolio is selected, there is further differentiated information.
Detailed information about the portfolios
Decisions must also be made in social trading. Even though it is easier for inexperienced traders, in particular, to decide on a portfolio or strategy at this point, there are various portfolios to choose from. Therefore eToro provides detailed information about each portfolio. Once a trader has decided on one, it can be easily clicked on. The following information is then displayed:
- Asset Allocation
- Risk assessment
All of the above points can help the trader to assess whether the portfolio fits. The methodology provides information about the investment strategy. This should match with the trader’s own ideas about the strategy. The asset allocation gives an indication of how the assets are distributed. This point can also help to assess the portfolio correctly. The performance represents the development within the last year. It goes back up to several years.
Especially for beginners it is important to be able to estimate the risk correctly. The average risk assessment shows which risks are to be expected when copying a portfolio.
Important: The risk assessment is based on the past development of a portfolio. That means, how a future development looks like is not assessable. However, it does provide information on whether there has been a repeated increase or decrease in the risks. Since every trader has his own risk perception, the search for a suitable copy portfolio is thus reduced.
eToro CFD demo account – find the right values with the advanced search
With the eToro CFD demo account, you can search the markets for the right trades. In the internal area, you can perform an advanced search. A filter is used for this. Available for selection:
- Foreign exchange
Once a market has been selected, a list of all tradable securities appears. Among the commodities eToro currently provides for example oil and gold, silver and copper as well as platinum. You can see the price changes, the sentiment, and the values at which you can buy and sell. With one click you can add the stocks to your watchlist. This offer is particularly interesting if traders would like to put together their own portfolio. So it’s not only possible to act via social trading at eToro.
The watchlist as a reminder
Access to the watchlist is also included in the eToro demo. This allows users of the platform to take their time to search for the right values and add them to the watchlist. This has the advantage that it is easier to monitor. In the watchlist you can see how the values develop. This makes it easier to assess whether the values fit into one’s own portfolio. It is possible to create additional lists within the watch list. This makes it even easier to maintain an overview.
Open trades via the eToro demo account
After registration, it is possible to open trades via the virtual account. No portfolios need to be copied for this. You can also open your own trades. Both are possible with the demo account. This provides a comprehensive introduction to trading.
If a trade is to be opened via the eToro demo, the user selects the desired value. Here is an overview of all functions. The price at which the value can be bought is indicated. The amount is predefined and can either be reduced or increased. You can also see how many units can be bought for the amount and how high the equity stake is. A risk charge is also given. If you prefer to specify the units instead of the amount, you can also set this.
Test hedges via the demo account
CFDs can be traded with leverage. The leverage is specified before the trade is triggered. You can choose between different levels of leverage. Especially when opening trades via the demo account, it is recommended to work with higher variants.
This makes it easier to assess how leverage really works and what profits or losses it can bring with it. Take Profit and Stop Loss can also normally be set. These additional hedges can reduce losses. However, these hedges are associated with costs. The amount of costs is visible.
Use demo account for risk-free tests
The eToro demo account is particularly attractive in this context. It allows the trader to open risk-free positions with digital currencies. If you don’t have any experience in trading CFDs on digital currencies, you can gain experience here. In the internal area the sell and buy values of the currencies can be seen. It is important to know that no coins are bought. There is only trading on the price changes. A digital wallet does not therefore need to be opened. The rates are adjusted in real time at eToro.
The additions to the eToro demo account
The demo account is usually only a part of the support offered by a broker for beginners. Often there is also the option to access an academy or other form of training and further education. This is also the case with eToro. Here there is a wide range of training and development opportunities. These include live webinars. It is possible to participate in these via the internet.
Here you can find information on financial trading, tips for beginners, but also extensive insights into the various strategies which can be used. The webinars can only be taken up with registration. Those who like to stay flexible in terms of time can take advantage of the trading videos. In today’s world, there is often not enough space to deal extensively with written contributions and articles. The trading videos can be viewed at any time.
The e-learning option as an interactive trading course
Another option is e-courses. The so-called interactive trading courses are tailored to the trader’s level of knowledge and are designed to help them use financial trading at their own pace. Those who are just starting to trade will benefit in particular. You can choose from courses on various topics.
There are tips on the advantages of Forex trading, the basic concepts of trading, and on the tools. Trading psychology is also covered, as is capital management. Market analysis also plays an important role, especially when developing your own strategy. At this point, information on basic technical analysis can be obtained in the e-course.
Discover the tradable values at eToro
Of course, the demo account of eToro is basically a great help in assessing what a broker is offering. But for traders, it’s also important to know what tradable assets are available. While newcomers often have little idea of the direction they want to go with the tradable assets, experienced traders are already very well positioned. eToro, therefore, offers a wide range of tradable assets.These are available:
- Stocks: Stocks are still one of the most important factors when it comes to trading stocks. They are very popular for inclusion in portfolios. That’s why eToro offers access to numerous stocks, some of which can be traded without additional fees.
- ETFs: ETFs are another option. They can also be included in your portfolio via eToro. Often they are seen as one of the hedging investments which are important in risk management.
- Foreign exchange: Currencies are known for high returns that can be achieved. This is not least due to the fact that the use of leverage is not uncommon. Therefore, it is helpful to be able to observe trades with foreign exchange in the demo account in peace.
- Indices: Indices have very high liquidity and can normally be traded 24 hours a day.
- Commodities: Commodities are often referred to in connection with a safe investment. However, traders also frequently use them when trading via a broker. That’s why eToro also has these underlyings in its portfolio.
Trade with cryptocurrencies via eToro
High returns within a short period of time – digital currencies have a reputation for rapidly increasing credit balances. In fact, the strong price fluctuations of cryptocurrencies are one of the reasons why these underlyings are used for trading by traders who like to take high risks. The advantage of being able to put together an extensive portfolio is also that it allows you to combine high-risk and low-risk assets.
The digital currencies are therefore an offer from eToro to be able to profit from high price fluctuations. Some of the most popular currencies are available for trading, such as Bitcoin, Ethereum, Ripple, and Dash. But also less known currencies like TRON, Tezos or ZCash are included. It should be noted that the risk is particularly high for digital currencies. The past few years have shown how strongly exchange rates fluctuate.
eToro’s customer service – support for traders
The idea behind social trading is that support can be obtained in the community. If you have questions or want to find out about trading in any other way, you can always contact other traders. Nevertheless, it is possible that problems arise for which clarification with support is necessary.
This clarification can be done in different ways. eToro’s customer support is available around the clock from Monday to Friday. Only written support is provided. The website is used to select whether it is a request from a visitor or an existing customer. The request can then be opened. Please enter your full name, e-mail address, and the type of request. This enables quick assistance.
Use the help center for inquiries
The Help Center is also a part of the support. The most frequently asked questions and answers are taken up here. Among other things, there is information about the community and social trading itself. But there are also tips on the eToro partners as well as on training and further education.
The Help Center should also be of interest for aspects regarding deposits and withdrawals or the wallet provided by eToro. The wallet is not part of the demo account. Traders who want to hold digital currencies as virtual coins have to set up their own wallet via the provider and trade with it.
Conclusion: The eToro demo account offers effective options
When looking for a way to open a demo account with eToro it turned out that the provider does not offer the trial version directly through the website. Only after traders have opened a real money account will they be able to access the virtual version. However, eToro is really generous here. After all, it provides 100,000 USD in virtual money which can be accessed. The virtual balance can be increased. Once it’s used up, further use of the demo account is basically no longer possible. In this case, however, it may be worth asking the support if it is possible to refill the account.
The demo version offers full access to the trading platform. A positive feature is that copy portfolios can also be transferred. This way eToro ensures that traders can gain experience with social trading without having to invest credit before. The structure of the trading platform itself is kept very clear and therefore very attractive for newcomers. Via the demo account, it is possible to get to know the individual offers and to open and track positions without risk.
If questions arise, the support team is available. However, this is only offered in written form. The eToro demo account is interesting for all traders who want to get an overview of the trading offers and try out social trading. But also customers with the desire to put together their own portfolio benefit from the option to take the first steps via the test account without risk.
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