What is eToro?
eToro is one of the leaders among trading platforms that exist in the market today. Etoro is an Israel based social trading brokers that help users by lending support when investing in crypto, equities, commodities, ETFs and other smart portfolios. Etoro users can also invest in forex, stocks and cryptocurrency. It is known for holding multiple assets when it comes to trading worldwide. As of now, etoro is regulated in Europe, USA, UK, Australia and Gibraltar. How to sell on etoro is a hot question which we have covered it in this guide.
eToro launched in 2007and now has over 3000 symbols that you can trade on the platform. The process of trading has become easier for traders, with maximum efficiency and highest quality customer service provided by the platform.
When you first enter the world of online trading, you might mind it a little bit overwhelming to navigate your way through the platform. It will take some getting used-to to learn how to efficiently use the platform for trading purposes. Other than this, eToro also has its own mobile app that is easy to use. The interface is easy to understand, with a clear navigation channel that makes it easy for anyone to make full use of etoro’s services through the app.
The one feature available on the platform that sets it apart from other trading platforms online is the CopyTrader feature. Through this, users can easily “copy” the trading process done by pro traders for themselves. It makes it easy for new traders to gain funds through the app. Etoro is a legit, verified, and authentic platform that is regulated by some of the top tier authorities around the world including CySEC, ASIC and the FCA. In addition to this, etoro also provides protection for CFDs in certain regions.
Is eToro safe?
eToro is globally known as one of the largest trading platforms where users can network socially. It is a multi-asset brokerage regulated by authorities that are at the top-tier and hosts millions of users from around the world. This platform is heavily regulated by some of the biggest authority bodies around the world which includes the FCA in the United Kingdom, CySEC and ASIC in Australia.
From this alone, it is safe to say that etoro is fully legit and not a scam in any way. In fact, there are more than 30 million people who are invested in etoro for their trading services.
There are a variety of reasons that can deem a brokerage legit or a scam. Here are some of the primary reasons why we believe that etoro is a safe broker among hundreds of scam platforms like it.
It is heavily regulated:
Many online trading platforms although successful at first tend to die away because of no regulations. Sometimes these platforms are shut down by authorities after investigation of they do not have a regulatory body. However, when it comes to etoro, the regulations are so heavy and top tier that it’s impossible to think of it as a scam
It is secure:
One of the most important features of online trading platforms is to have fully safe and secure platforms for client use. Especially since trading platforms involves storing of funds, it is imminent that the companies assure 100% safety and guarantee on users’ funds. Etoro does exactly this by using tier one banks for all the users plus, SSL encryption for all the personal information on the platform.
It has 24/7 customer support:
There’s nothing more satisfying for a customer than a company that has an interactive and responsive customer support team. They should also be equally qualified to give proper solutions and instructions when needed. The customer support team at etoro is available to the public 24 hours a day, and 7 days a week so you can reach out to them at your convenience.
It has only genuine and real users:
Unlike scam trading platforms where they have bots run some accounts to make up for low performing statistics, etoro makes sure that each user is a real person. To do this, they ask for the customer’s real name and profile picture. This is to ensure that all information is legit and verifiable. Each user will go through a thorough vetting process to make sure that they are not fraudsters on the platform.
How to sell on eToro?
It is super easy to learn How to sell on eToro, since eToro allows trading without nay commission, it’s easy and simple to sell on etoro. You can do this through both the desktop website as well as the mobile application.
Here is a step-by-step for how to sell on eToro:
- Launch the website on your desktop or open the app on your phone
- Log into the platform with your account credentials
- Click on your profile
- Go to the item you want to sell
- Close the position
- You can then withdraw the money or buy something else with the amount.
How to sell crypto on eToro?
It is simple to learn How to sell crypto on eToro as eToro allows traders to sell or buy cryptocurrencies on the platform. This includes some of the biggest names in cryptocurrency such as Bitcoin, XRP, Ethereum and DASH among others. It is a simple 5-step process, where you just have to go to your eToro account, pick which crypto you want to sell and close the trade.
Here are the steps to follow if you want to sell your cryptocurrency on eToro:
- Launch the website or the mobile app
- Log into your account
- Click on your portfolio that is located in the left corner of the website.
- From the positions list, choose which cryptocurrency you would like to sell on eToro
- Click on the red X mark which you will find on the right for closing the trade.
If you don’t have any cryptocurrency to sell, you can start acquiring them on the platform. If you wish to buy cryptocurrency on eToro, you can take a look at the following steps:
- On their website or application, log into your account
- Type in the cryptocurrency you wish to purchase on the search bar that is located at the top.
- From the search results, click on your preferred cryptocurrency page
- This will take you to their page.
- From here, you can press on the button that says “trade,” which is located at the right side of the screen
- From the pop up menu, click on the “buy” button
- Type in the amount of the currency that you wish to purchase
- Click on the button that says, “Open Trade”
- Now you can go back to your portfolio and view the amount of cryptocurrency that you have just acquired.
How to sell on eToro app?
It is really straightforward to learn How to sell on eToro app, because eToro is known for its user-friendly interface on the mobile application. You can experience the same features on both the mobile application and the desktop website. In addition to this, there are two mobile apps that eToro offers its users- the official eToro app and eToro Money, which is used for transferring money and crypto. Both the apps are available and compatible with android and iOS operating systems.
For multi device users, this is a plus point because they can keep track and monitor activities on their eToro account from anywhere. You can even sync the watch lists to aid in a unified experience.
- Launch the application
- Log into your account
- Go to your portfolio
- Enter the name of the cryptocurrency you want to buy on the search box
- Go to the stock you want to close and swipe left
- Click on the red X mark that appears
- Tap on the “Close Trade” button for confirmation.
How to sell stocks on eToro?
There are two different options you can choose from when selling stocks on the eToro platform. The first option is called “closing a trade” while the other one “short selling a trade.” You need to understand what each one is in order to trade accurately.
When it comes to short selling, it deals with stocks that you personally think will experience a decline in value, so you sell it with the intent to buy the stock back again later. The concept behind short selling is to sell off a stock quickly before the value decreases so that you can buy it again when it is cheaper. In this way, if traders can understand the market behaviors, they will be able to earn a good net profit.
On the eToro platform, when making a short sell, all traders are agreeing with the company that you are selling a certain stock which is either owned by you or not, with the promise that you will buy if off again later. This is a big gamble, especially for newbies because if the prediction turns out to be incorrect then you’ll have to buy the stock for a higher cost, resulting in loss of money.
When it comes to the “closing a trade” option, you are selling stocks that are already yours. Whenever you sell you stock through this method on eToro, you are no longer going to be the owner of the stock and eToro will pay you the value for your stock. When a trader is closed on eToro, you will will no longer be able to find the stock on your profile anymore.
On top of the application/website, click on the SELL button beside the BUY button. This will open the selling interface so now you can experience your position as a ‘short-selling position.’ Keep in mind that pressing on the sell interface button will not sell all you assets and stocks automatically. Instead, the platform will open a new option for you known as ‘short-selling position.’
It is simple to learn how to sell stocks on eToro because they do not charge any commission fee for trading. The process is easy, straightforward and quick. If you wish to sell assets or stocks on eToro, you can follow these steps:
- Launch the mobile app or go to their website
- Log into your account
- Click on your portfolio
- Select which item you want to sell
- After your choose your stock, close your position
- Withdraw the money or buy something else on the platform.
How to short sell on eToro?
It is really easy to learn How to short sell on eToro, as on the website, short selling works by following a system of Contract for Difference (CFD). This system happens when the broker and trader agrees that the broker will lend the trader a number of stocks/shares of a company.
When you acquire the assets, you can sell them off with the intent of buying it back when the prices drop. When you buy back the stocks for a lower price, you’ll earn the price difference, hence, making a net profit.
Here are the steps to short sell on eToro:
- Launch the website/ application
- Log into your account
- Go to the search box located on top of the website/ application
- Type in the stock that you wish to short sell
- From this page, click on the “Trade” button located to your right
- Click on it to start the trade
- This will take you to the website’s trading interface
- From here, you can choose between the BUY and SELL options
- Click on sell for short selling
- Type in the amount at which you wish to sell the stock.
- Tap on “Open Trade” option to confirm the sale.
With this step, you confirm the sale of the stock for an amount. Remember that you need to repurchase the stock in some time.
Here are the steps you need to follow for the repurchase process:
- Launch the website again
- Log into your account
- Enter your portfolio to see the stocks you have sold.
- From the list, choose the one you wish to repurchase
- Click on the big cross mark in red for closing the trade.
If the price of the stock has gone down, you’ll be able to enjoy a good net profit whereas, if you made the wrong prediction then the price would not have decreased or it may have increased. This means that you have to pay extra than how much you earned when you sold the stock in the first place.
There is a big risk when it comes to short selling so it is recommended that you only short sell if you are already experienced in the market.
How to close a trade on eToro?
It is straightforward to learn How to close a trade on eToro, because “closing” the trade means confirming the selling of your cryptocurrency. The value of the cryptocurrency that you have sold will be added into your eToro account and the amount that gets credited will be based on the crypto value in fiat currency. If you want to close a trade on eToro, follow these steps:
- Go to the eToro website or the mobile application
- Log into your account
- Click on the stock that you wish to sell off
- Tap the big red X for closing the trade
- A dialog box will appear on your screen that reveals the value of the stock and the profit you’ll make from selling it
- Click on the “Close Trade” button to confirm the sale
- eToro will transfer the money to your account linked with the platform
Conclusion: How to sell on eToro
The eToro application and website is a popular trading platform that houses millions of traders from around the world. Apart from trading, eToro offers educational blogs and articles that users can get access to for more information on trading.
Even if you are a beginner, you can easily learn the depths of trading through this unique feature on the platform. Additionally, there’s an option for all users to create demo accounts for the purpose of practicing trading as well as understand how the website works.
If you are planning on joining the online trading community, we suggest that you do your own research beforehand as this article is not a financial advice. It is better to understand in advance that there are many uncertainties and risks that come with online trading. It is best that you know the market trends well before getting involved with big investments. We hope you have now learnt How to sell on etoro from this step by step guide.