eToro: the forex traders (gurus)

eToro OpenBook

eToro is a very open social network, anyone can become a popular forex trader known as a "guru". The only requirement is to have traded with a real eToro account for at least 3 months. Of course, past performance determines a trader's rank. eToro nevertheless reserves the right to remove traders who do not meet the terms and conditions outlined in their social investment network.

eToro allows you to fully track and copy anyone on the social network. You are not limited to selecting gurus who you can copy, you can also follow investors who follow other gurus. The limits defined by eToro prevent you from allocating more than 20% of your capital on an investor, the allocation on the gurus they follow will therefore be limited to 4% (20% of 20%).

Gurus are paid according to the number of copiers they have with real accounts according to this pay scale:

commissions des gourous

An interesting feature of eToro compared to other social trading networks is that you can earn commissions even if you are not a trader. All you have to do is choose the right gurus and if you make money, other investors may decide to follow your portfolio through OpenBook. Each follower with a real account can earn you money, the only requirement is that you have a profitable account and followers.

The fact that investors must trade with their own money is definitely a positive thing. However, they can start with just $200 and the balance of their account is not displayed in their profile. An investor who has $100,000 in his account is generally more experienced and more prudent than a person with just $1,000. A follower will therefore be more likely to trust someone who risks significant amounts of their own money. Nevertheless, we believe that eToro has yet to improve transparency regarding this point, as this is a useful piece of information for users.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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eToro Openbook