One of the most commonly asked questions about eToro is – how to make money on eTor? The answer is not easy, but we will try to give you a maximum of tracks to explore in order to achieve this goal. The goal here is not to make you believe that you will be a millionaire simply by investing a few euros on eToro, but rather to open your mind on the different alternatives that can be offered to you to increase your income. Our site and our area of expertise stop at cryptocurrency so we will not discuss forex trading strategies here, although this is possible on eToro.
How to make money on eToro?
Many ways exist to make money on eToro. We will review each of these,
- Trade by yourself
- Copy the investments of the best traders
- Being copied by other beginner or advanced investors
- Sponsor new members
How to make money on eToro trading by yourself
If you are a beginner, we do not recommend starting your investment with trading. Of course, it is perfectly possible to earn a lot of money with this method, but it is more like advanced profiles. You certainly know it, but the trading activity is a profession in its own right that requires years of experience, extreme rigor, in-depth knowledge of the subject and especially a steel mind. You cannot proclaim yourself a trader overnight. If you think today that you have all the necessary skills to start a trading activity by yourself then go there! This is perfectly possible on eToro. However, you will see that there are other more interesting alternatives available to you.
2) Make money on eToro by copying the best traders on eToro
We think this alternative is the best way to start your investment today and start generating money. eToro is a bit of the perfect combination of a traditional forex broker and a social network like Facebook.
Indeed, on the platform you have the opportunity to discuss the different investment strategies with the best traders who are there, to see their performance and results since the creation of their accounts (risk index, gain made, distribution of their portfolio …), but also to copy in real time all the actions that are performed by this person. The transparency of the platform gives you the opportunity to knowingly choose the best traders of the moment to maximize your earnings. From a technical point of view, copying a trader is extremely easy!
- Login to your account
- Find the best trader to copy
- Copy a trader
To copy a trader, a minimum of $ 200 will be required. Select the profile of the person you are interested in and click on “copy” at the top right.
From now on, every share that the trader will make will automatically be effective on your wallet. To diversify your risks, we advise you not to put all of your capital on one person. If you have for example 1000 euros of available, place 200 euros on 5 different people of your choice to limit the risks.
3) Make money by being copied by other investors on eToro
This is one of the most profitable techniques today on eToro. If you are a seasoned trader, you will have the opportunity to be tracked and copied by other investors and receive compensation based on the winnings you earn from your copiers. The larger the number of copiers, the higher your return on investment. In this case, it is in your best interest to have a good performance that persists over time as investors choose in part to place their economy on people with high potential.
4) Make money by sponsoring on eToro
The last strategy for making money on eToro is sponsorship. Once you have created your account on the platform, you will have the opportunity to directly invite people to join eToro. In this way, you will receive a commission for every person you convert to eToro. Your referrals will also have advantages to use your affiliate link. To access your referral link, you must go to the “invite friends” tab.