eToro UK Investment Platform Review
As one of the first brokers to pioneer social trading, eToro UK investment platform review is well-known for its ‘CopyTrader’ function. This allows you to follow and replicate the portfolios of other traders, so every time they buy or sell investments your account automatically copies the move. This is a great way for novice investors to learn from the experience of more experienced traders, although it can be risky and returns are not guaranteed.
EToro also offers Smart Portfolios, which are pre-selected collections of assets that aim to diversify your portfolio. They can be based on a specific theme such as technology, or a type of investment strategy. EToro is also popular for its CFDs, which allow you to speculate on price movements of stocks and currencies without owning the underlying asset. However, trading CFDs is a risky investment and losses can exceed deposits.
eToro UK Investment Platform Review: Pros and Cons Explained
Traders can use their existing bank accounts to deposit and withdraw funds with eToro, which is convenient. However, when you make withdrawals from your eToro account in a currency other than sterling, you may be charged conversion fees by your funding provider.
Overall, eToro is a competitive platform that offers plenty of features. The web platform is clear and easy to use, and the mobile app is intuitive too. It is possible to sync watchlists between the web and mobile apps, which is handy for keeping track of the most important trends. The site also features a ‘did you know?’ box for each stock, which gives background on why it is moving. The platform also offers a new ISA, powered by Moneyfarm, which allows you to shelter your assets from capital gains and dividends tax.
