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eToro, a reliable brokerage for those in Bangladesh who want to acquire EOS
Some of its benefits are:
- It offers other successful investment strategies so you can replicate them
- You can go short
- User-friendly and straightforward
- You can trade leveraged
- You can invest in countless of different goods
Main site: www.etoro.com/eos
eToro is the best option today to purchase EOS from Bangladesh.
This broker is famous for making “social trading” fashionable, a revolutionary way of investing in which traders can repeat the moves of other investors who have been making profits for years.
If you are still a rookie or haven't gained much investment experience, eToro is very useful. You can rest assured that you will be making a smart investment since the site duplicates those from subjects with a long profit record. Oppositely, if you are an investor willing to share your techniques with others, eToro pays up for it.
It is also very convenient how easy is to manage the platform, excellent for beginners who are taking their first steps with EOS.
eToro payment methods
Among the payment methods accepted on eToro you will find: credit card, PayPal, bank transfer, Neteller, and Skrill. There is not much to say here: making a deposit with eToro is a very easy process. You just need to go to “Deposit funds”, type the amount and select a payment method from the previous ones.
Consider that for security reasons, you need to be the holder of the account or the credit card.
The minimum amount you can deposit is $ 200 and there is a maximum limit of how much you can deposit if you are not verified, so if you want to trade with larger sums, you should verify your account first.
The platform allows deposits or transfers in any currency, but you will have to pay a fee for the conversion to USD. That is why we recommend, if it is in your hands, depositing in USD from the beginning.
Differences between futures and CFDs
How are CFDs and Futures different?
- Counterparties
- Futures: operations are made with someone else, another investor.
- CFDs: the counterparty is eToro, the brokerage. That means you don't “play” against or with another trader but the bank.
- Expiration date:
- Futures: there is an expiration date. As soon as that moment arrives, your operation is closed even if you are in losses.
- CFDs: on the contrary, there is no expiration date. It is possible to wait until you are in a good position to exit.
- Variety:
- Futures: very little variety
- CFDs: there is an enormous amount of possibilities
- Minimum investment amount:
- Futures: you need a larger initial investment
- CFDs: it is possible to enter with a low amount
- Cost of trading and fees:
- Futures: as you need to pay more in the first place, fees are lower
- CFDs: costs are higher
- Possibility of leverage:
- Futures: you can't leverage
- CFDs: fully available
About ETFs
ETFs or Exchange-Traded Funds are similar to index funds. We can say that ETFs are halfway between stocks and funds: they can be traded like regular stocks, but include a wide diversity of assets and their fees are much lower than those of an actively managed fund.
Foreign exchange market
What is known as Forex trading consists in the trading of currencies. It is the conversion between two currencies, and the aim is, evidently, to obtain a benefit out of this.
If you want to trade the EUR/USD pair, you buy euros and pay with dollars, with the expectation that the euro will rise compared to the dollar. Then, if you purchased each euro at 1.15 USD and you sell them back when their price is 1.20 USD, you'll be keeping that margin.
Perhaps you already inferred this, but this kind of trading usually implies a large capital, since variations are normally low, or using much leverage, which is a bit like skating on thin ice, as you know. In case you are new to the world of trading, we don't recommend beginning with Forex, because it is very risky and complex.
The most known currency pairs are available on eToro. Still, keep in mind that Forex trading works through contract for differences, which means you will not be the owner of the real asset.
How do Contracts for Difference Function?
If you have entered eToro previously, you must have noticed that the acronym CFD appears all the time. Before we come back to this, you should know that CFDs on eToro are only possible when you go short.
For your information, and in case you want to know about day trading cryptocurrency and other more advanced practices, you will also find out about concepts such as going short and leverage.
eToro allows you not only to bet if you are “in the black”, but with CFDs you can also bet “in negative”. In a hypothetical case: you believe that the EOS will go down, so the logical thing is to think “if it is going to depreciate (go down in price), I'll simply wait until it does”. But if you really think that it's going down, why not take advantage of that and making money?
You can accomplish that by “going short”. Basically, it works like this:
- You ask for a loan of, let's say, 100 units of EOS, which cost $ 5,000 at the moment (these figures aren't real)
- You make $ 5,000 by selling the 100 units
- The EOS goes from $ 50 to $ 30 (as you thought, it devaluates)
- Again, you purchase the 100 units, but at the current price, $ 3,000
- You return the 100 units
- You will have made $ 2000, since you keep the difference
It is far more simple than it may seem. Just take into account that by trading in EOS on eToro, with CFDs you can earn money when you anticipate downs.
How does eToro work?
We said before that eToro is very friendly and intuitive. Anyone can start investing without previous experience or long explanations.
You won't have any issues with the interface if you are familiar with any other social network.
We will explain the registration process and the different tabs that you will see.
You will have to provide some personal information (like full name or address, for instance) when registering.
Also, you will see that they ask you some questions about your experience as an investor.
But don't feel like you are taking an exam. They only intend to find out about your previous experience and knowledge to determine which financial instruments to recommend for you.
You will see a bar that says “incomplete profile” until you fill in all the information.
Let's get to know the different sections of the interface.
“Set Price Alerts” allows you to set alerts on the price of certain securities. You just have to click on the three points at the end of the line and you will be able to program a price alarm. This is very useful when you want to purchase a security that is falling, but it seems to you that it has not finished falling yet.
The section “News Feed” allows users to interact and learn from each other by sharing their opinion and experiences.
“Discover” includes the tabs “Instruments”, “People” and “CopyPortfolios”. As we discussed before, the six types of instruments on eToro are:
- Cryptocurrencies
- ETFs
- Stocks
- Raw materials
- Forex
- Index funds
In the tab “People”, you will find the public profiles of eToro users and their historical performance. This is where you can replicate the strategies of your preferred investors.
You will be able to search and find users according to your interests. You can search by risk level, financial instruments, or average profits, among other filters. When you choose an investor and indicate the amount you want to invest, eToro will automatically replicate their movements, in proportion. For example, if you have $ 1000 and the trader puts 20% of their funds in an asset, eToro will also invest 20% of your money in the same asset, in this case, $ 200.
You will also see the three main types of CopyPortfolios, which are classified into “Top Trader”, “Market” and “Partner”.
The benefit of copying to CopyPortfolios instead of people is that this way you will diversify the risk. The different portfolios are easily identifiable: one about gaming, another about large drone companies, another about pharmacy … Do you suspect that a certain industry is going to have success in the future? Then you will surely find a CopyPortfolio about it.