The first thing to do when you want to start social trading on eToro is to set up an account. To create your account, head over to the eToro website and click “sign up now” at the top.
Next, select your account’s email address, password, and security question. When you are finished filling out the required fields, click “create your account,” You will be taken to a welcome screen for social trading with access to essential tools like charts and watchlists.
To get started best results with eToro, check out our article on setting up a strategy by clicking here.
Social trading is a way to turn your investments into a social network by sharing them with your friends or family. Many social networks such as Twitter, friends and followers of an investor can see their investments and follow their trading activity.
Forums for investment firms and brokers abound across the web. Many of these sites provide real-time access to the stock market and market data. However, you will be looking at price quotes from several different exchanges, which often makes it confusing rather than beneficial. Some sites even have an interactive calendar with live price quotes for each of the stocks in the market that you can use to track your portfolio’s performance over time.
Bloomberg’s service is both exciting but costly – it offers on-screen access to data on thousands of markets across the globe but charges 1 million dollars per year for a single user account. At the same time, AOL provides similar functionality with only ten (out of 692) Bloomberg terminals available at any given time (though some criteria must be met). Other less expensive alternatives, such as Yahoo Finance or Google Finance, do not require an annual subscription fee but do not provide all the bells and whistles or the depth that Bloomberg does.