This broker may have started a quiet revolution. Now when you search for the ticker symbol on X (formerly Twitter), you can start the process of buying shares on eToro with one click. Of course, you can just as easily download the eToro app, research analysts and investors, and even copy traders there. However, Agreement X takes the concept of social investing to a new level and reduces the time between idea and action.
This isn't the only way eToro is lowering barriers to entry for new traders and investors. The eToro platform has been innovating in this area since its inception.
How to buy shares on eToro
Recent enhancements to the platform now allow users to go from zero to owning shares with eToro in minutes. Once you have access to the program, you can research or communicate with millions of users and even duplicate their investment choices. Can investors really benefit from the wisdom of the crowd?
Before you can find out for yourself, you'll need to register for an account. Here's a quick overview of the first steps an investor takes with eToro.
Step 1: Open an eToro account. Opening an account is quick using your smartphone and managing your login with Apple, Facebook or Google. Once you have verified your identity using two-factor authentication, you will be able to log in to the platform. But even if you decide not to speed up the initial registration process, it will take you very little time to get to the point where you are ready to trade.
Step 2: Log in to your eToro account. eToro manages to speed up access to the platform partly because it separates the login process from account verification. This allows the company to identify a new customer and provide them with access to the platform immediately. They will still have to verify the account via email or text message before adding funds, but a new user can log into their account in seconds.
Step 3: Confirm your account. Whether you log in for the first time via a smartphone or through a web browser interface, eToro will attempt to verify your identity via a text message to your smartphone if you have one. After completing this step, you can fill out questionnaires about your trading knowledge, trading goals, and your risk tolerance.
Step 4: Fund your account. Once your account is verified, you can add money to trade by first linking your bank account for the transfer. The fastest way to do this is to use Plaid's service to securely link bank accounts. In the US or UK you can transfer as little as $10, while in other countries you may need to deposit at least $50. Transferring through Plaid will help you get ready to trade in minutes.
Step 5: Research and select a stock to trade. The platform has several resources for researching stocks, including price charts, company statistics, analyst ratings, and a social media feed for user comments. Using these resources can help you prioritize the stocks you want to trade. It can also help you develop a trade entry and exit strategy. Once you have identified the right stocks to add to your portfolio, you are ready to place your order.
Step 6: Place your order. Once you click the “Trade” button, a dialog box will appear where you can fill in everything you need to start trading. You can specify the size of the trade by specifying the dollar amount or by specifying the number of shares. It is at this point that you can indicate that you want to own fractional shares.
You can also specify whether you want to use the available leverage, the price of your stop loss and the price of your take profit orders. Carefully considering each of the options in the dialog box can help you better strategize your deal. Once you have completed the dialog box and clicked the “Open Trade” button, your order will be sent to the market and executed as soon as possible. Market orders are usually executed in a matter of seconds. Limit orders may take longer depending on the amount specified.
Alternatively, you can initiate a CopyTrader trade, where the platform allows you to allocate a certain amount of money to follow another trader and duplicate their trades. This form of trading may not be suitable for every investor, so be sure to do your research before you try it.
| Minimum deposit | Stock trading commission | Available inventory screener | Customer Support Methods | |
| iToro | 10 $ | $0 | Yes | Email, Frequently Asked Questions |
| Webull | $0 | $0 | Yes | Email, Chat, Phone, FAQ, Live Broker |
| Robin Hood | $0 | $0 | No | Email, FAQ, Phone (no incoming calls, app based call back system only) |
What you need to open an eToro brokerage account
The procedure for opening an account with eToro is quite simple. However, you can speed up this process by providing some personal and financial information before you begin.
Personal information
As part of your account registration and verification, you will be asked to provide the following.
- Name
- Address
- Place of Birth
- Citizenship
It is also helpful to have your government ID or passport number with you.
Financial information
As part of the account opening process, you will be asked to provide financial information, including the following:
- Trading knowledge
- Preferred trading frequency
- Purpose of trade
- Risk Tolerance
- Bank account information
Benefits of trading on eToro
One of the key advantages is eToro's established global platform. The company has successfully designed it for ease of use and users have found it attractive. This is important because social trading necessarily requires the input and participation of more people.
Contributions from other traders and investors help add value to your information channel. Perhaps more importantly, CopyTraders' contribution allows you to quickly leverage the expertise of other investors. Additionally, you can rate traders based on user reviews and past performance to ensure you are following a trading strategy that suits your goals.
Additionally, eToro's support for fractional shares is a key benefit. This feature allows any investor to gain exposure to any security regardless of the security's price or the investor's available capital. Fractional share purchases can be made for any amount above the $10 minimum deposit.
Finally, eToro's money management features can help you keep your money active or hide it in safer assets. The platform offers access to stocks, options, CFDs, cryptocurrencies and much more.
What are shares?
Shares represent ownership in a company. When an investor buys a share of a company's stock, they are buying part of the company. This may give the shareholder the right to a portion of the company's profits in the form of dividends, as well as the right to vote in elections to the board of directors.
The value of a company's shares is determined by the constant flow of orders occurring on the stock exchange. Market participants use the exchange as a continuous auction in real time, and the last traded price represents the current price at any point in time.
Investors justify paying a certain price for a stock on a variety of factors, including the company's current financial performance, future prospects, industry trends and overall investor sentiment.
What is eToro?
eToro is an innovative trading platform that provides social trading capabilities. Using the eToro social trading network, users can learn and copy trades from more experienced investors across cryptocurrencies, stocks and ETFs.
The platform's intuitive design helps investors more easily find trade ideas or traders they would like to follow and quickly place their own trades on the platform. The broker operates in more than 140 countries, which demonstrates its appeal to a wide range of users.
Can you trade on eToro after hours?
eToro offers advanced trading on stocks that trade during the after-market session from 4:00 pm to 8:00 pm ET. Pre-market trading is also available for two hours before trading opens. Other assets such as commodities or cryptocurrencies can be traded around the clock, if applicable.
Can you buy Tesla shares on eToro?
Yes. To do this, the investor must first open an account and verify his identity. Once an account is opened, investors can use eToro's research tools to conduct fundamental and technical analysis of TSLA stock. The platform provides detailed information on a company's financial performance, as well as real-time market data and analysis.
To place a trade on TSLA on eToro, investors can go to the stock menu. From there, they can select or search for “TSLA” and click on the ticker to view the chart and other related information. To purchase TSLA shares, investors can then click the “Trade” button and enter the order specifications. As with any investment or trade, it is important to practice proper risk management and conduct thorough research before committing to a trade on eToro.
