Contents
eToro, an advisable broker for acquiring EOS from Egypt
Why do we recommend it?
- It takes techniques and moves from skilled traders so you can emulate them
- You can short sell
- User-friendly and simple
- You can leverage
- There are tons of possibilities for investments
Main site: www.etoro.com/eos
eToro is probably the best option to obtain EOS from Egypt.
eToro is famous for making “social trading” fashionable. Social trading is a revolutionary form of investing in which traders can repeat the strategies of other investors who have been making earnings over time.
If you are still a rookie or do not have much investment experience, eToro is great for you. You can rest assured that you will be making a smart investment since the site emulates those from subjects with a great deal of expertise. And for those skilled investors willing to share their techniques, eToro pays for it.
Besides, the platform is so uncomplicated, ideal for a user who wants to start in the EOS universe, without stressing over tons of diagrams and figures.
Can you rely on eToro?
eToro is very rigorous with the information about past performances from users, and its reliability has been tested many times by independent organizations.
eToro complies with all the strict policies requested by the European Union, legislation in which it is found. Its head office is in Cyprus, where it is validated by the CySEC or Cyprus Securities Market Commission, which protects up to € 20,000 of the debts that its clients may have with creditors (those from Egypt included).
eToro responds to the European Financial Instruments Market or MiFID, and to the Financial Conduct Authority or FCA in the U.S. You should also know that it has a trajectory of fifteen years, with more than 20 million users around the world. So, yes, it is a safe broker.
Their customer service functions perfectly. You can use the ticketing system, an online chat, and they also have a phone number available for assistance.
eToro deposit methods
When it comes to payment on eToro, there is not much to say, since it is really straightforward. You only need to select “Deposit funds”, type an amount, and choose the payment option you prefer. You can use PayPal (available for some countries), bank transfer, credit card (Visa, MasterCard, Diners, Visa Electron and Maestro), Skrill, or Neteller.
Remember that for security policies, you must be the holder of the credit card or the account.
The minimum you can deposit is $ 200 and there is a limited amount if you are not verified. Therefore, if you plan to operate with higher amounts, you should verify your account first.
The platform accepts deposits or transfers in any currency, but you will have to pay a fee for the conversion to USD. So it is better to use USD directly.
How does eToro work?
We said previously that eToro is very friendly and intuitive. Anyone can start investing without having to read endless explanations.
If you are familiar with any of the most common social networks, you can perfectly manage this platform.
Now we will walk you through the sign-up process and the sections of the eToro interface that you should know.
You will have to provide some personal information (like full name or address, for instance) when registering.
Additionally, you will have to answer some questions about your experience as an investor.
But don't feel like you are taking an exam. They only intend to find out how much you know and which assets to recommend for you.
Next, we will talk about the different sections of the interface.
With the “Set Price Alerts” tool, you'll be able to program an alarm when a security is at a certain price. This is perfect if you want to purchase a security and you are waiting for its price to fall.
The section “News Feed” allows users to interact and learn from each other by sharing their opinion and experiences.
In “Discover” you will find the investment tabs: “Instruments”, “People” and “CopyPortfolios”. As we mentioned before, the financial instruments available on are:
- Cryptocurrencies
- ETFs
- Stocks
- Commodities
- Currencies
- Index funds
The concept “social trading” comes to life within “People”: there, you can replicate the strategies of any investor you choose. You'll be able to see all their profiles and historical performances.
You will be able to search and find users according to your interests. When you select an investor and indicate how much money you want to invest, eToro will automatically replicate their movements, in proportion. 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 company or instrument, in this case, $ 200.
You will also see the three main types of CopyPortfolios, which are “Top Trader”, “Market” and “Partner”.
The benefit of using CopyPortfolios instead of copying individual investors is that this way you will diversify the risk. There are all kinds of portfolios that you can identify easily and are divided by sectors. So, if you think a specific sector, like e-commerce or drones, has good chances to succeed, you can look for that specific portfolio and do your investment.
Investment strategies
There are lots of cryptotrading methods: for instance, you can buy and hold, or you can day trade using price fluctuations to your advantage.
If you are new in the world of investment, our suggestion is something in the middle: placing a dynamic stop-loss (15-20% under the highest price) and wait for it to work.
This means that if, for instance, you buy a cryptocurrency at $ 10, it reaches $ 20, and after that it falls to $ 12, your stop loss will close your position at $ 16-17 and you will make a pretty good profit.
I know it might sound more appealing to sell when the price is at its highest, but unless you're psychic, that is not possible. The above strategy is much more down-to-earth and it can give great results.
Later on, you will be able to apply more complex techniques, like going short to profit from bear markets or using leverage.