What is Etoro? They are one of the biggest online trading platform where you can buy assets like stocks, cryptocurrency and commodities. As of December 2020 they have recorded 15 million users all over the world.
In the Philippines we also have trading broker platforms like COLfinancial, BPItrade and BDOnomura to name a few, but they are limited on Philippine stocks.
So how do we earn using Etoro? If you dont have knowledge on technical about trading stocks there is an option to Copy-trade the popular traders in their platform.
CopyTrading is the advantage of Etoro compare to other brokers. Remember CopyTrade is more likely for investors or people who want to earn money by just putting the money for medium to long term investment.
Did you know that if you put your money in the Philippine banks the highest rate that you can get for the whole year is 4% gain?
Meaning if you have 100,000 pesos ($2,083) in your bank that money will only profit 4000 pesos for the whole year or 333 pesos per month, that is awful considering 4% is the highest and most bank are just around 1% per year.
Now we talk about Etoro CopyTrade, Let’s see some of the people that you can copy and their percentage gain per year.
Most of them has 80% gain per year which means if you CopyTrade them your 100,000 pesos ($2,083) will give you 80,000 pesos and your total money would be 180,000 pesos, compare that to your bank which will turn your 100,000 pesos to 104,000 in 1 year.
That examples are just 80% gain of popular traders, I will tell you there are some traders you can copy who gain more than 80% per year, like this one who gains 886% in 2020 and already has 267% gain February 2021 crazy right? So your 100,000 pesos could be 886,000 pesos in a year.
Just a reminder guys, you can find a lot of people you can CopyTrade with good stats and gains, but as the Etoro site itself says “Past performances is not indicative of future results”.
What does it mean? they can give you more than they have gain from the past and also they can give you a negative percentage in the coming months or year.
Lets use this image as example, for 2020 he got -93% but in 2021 he already has 295% gain, See it could be vice-versa 93 gain and -295% loss. So your money is lost.
That is where the “Risk Score” needs to consider, You will need to search for the popular traders with low-risk and check their performances. The higher the risk the higher the reward and vice versa.
Earning in Etoro is fun and really good. I advice you to start with their “Virtual Trading” so you can start trading with virtual money before depositing real money so you can familiarize with their platform first. Here are some of my virtual CopyTrade so far, I started just this February.
You can deposit in Etoro using local banking through Philippine banks with no fees, and can withdraw your money through the same bank you use to deposit.
There are lot of Filipino popular traders also that you can CopyTrade. Click copy people then click filter the results (upper right corner), scroll down then click advance, click country and type Philippines. There you go you can now see the list of Filipino popular traders that you can copy.
I also encourage you to join Etoro-CopyTrading Facebook groups there’s a lot you can that you can join so you can see others posts regarding Etoro.
And lastly but should be the first step is to sign-up with Etoro so can start trying their virtual trading and hopefully start to invest real money after you familiarize it like I did. You can click here to REGISTER with ETORO.