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eToro, a reliable broking platform for those who are in Kenya and want to purchase Dash
Why do we recommend it?
- There are uncountable possibilities for investments
- You can trade leveraged
- It is really straightforward and intuitive
- Allows to imitate other investment moves
- You can short sell
Go to the official website: www.etoro.com/dash
In case you are interested in purchasing Dash from Kenya, eToro may be the best option nowadays.
eToro is known for making “social trading” a trend. Social trading is an innovative way of investing in which users can imitate the movements of other traders who have been generating income for years.
eToro is very helpful if you are still a beginner in trading. You can rest assured that you are doing a smart investment move when replicating those from subjects with a long profit record. Oppositely, if you are an expert in the subject willing to share your techniques with other traders, eToro pays up for it.
Another advantage is how manageable the platform is, which turns out perfect for new users that are learning all about Dash.
Can you trust eToro?
eToro is very careful with the information about past performances from traders, and its integrity has been tested once and again by independent organizations.
The main headquarters of eToro is in Cyprus, and the platform is approved by the Cyprus Securities Market Commission (or CySEC), which covers debts up to € 20,000 from its clients, including those from Kenya. The platform complies, on the other hand, with all the strict policies of the European Union.
eToro responds to the European Financial Instruments Market or MiFID, and to the Financial Conduct Authority (FCA) in the USA. Apart from the above, it has a trajectory of fifteen years, with more than 20 million users around the globe. So, yes, it is a safe broker.
No less important is their excellent customer service. They have a phone number for assistance, a ticketing system to track any claim, and a live chat.
How to deposit funds into your eToro account
Among the payment methods available on eToro are: bank transfer, PayPal, credit card, Neteller, and Skrill. Making a deposit with eToro is so simple: click “Deposit funds”, set an amount and choose the payment method you prefer.
(Consider that you should be the account or credit card holder, for security reasons).
The minimum first time deposit is $ 200, and there is a maximum limit for unverified accounts. So, if you aim to operate with large amounts, you should contact Support to verify your account.
Finally, know that you can make the transfer in any currency because eToro converts it to USD, although it charges a fee, so it is preferable to make the transfer directly in USD.
Differences between futures and CFDs
What are the differences between CFDs and Futures?
- Counterparty
- Futures: the counterparty is someone else, another investor.
- CFDs: the counterparty is eToro, the brokerage. In other words: you do not “play” with someone else but with the bank.
- Date of expiration:
- Futures: there is an expiry date. As soon as that moment arrives, your operation is ended even if you are in red.
- CFDs: they don't expire. You can wait until you get in a good position before closing.
- Trading options:
- Futures: there are limited options for investment
- CFDs: you have plenty of options, there are CFDs of practically anything
- Minimum deposit:
- Futures: you have to invest much more
- CFDs: you can start with a lower trade size
- Trading costs:
- Futures: as you have to pay more in the first place, fees are lower
- CFDs: costs are higher
- Leverage:
- Futures: there is no leverage leverage
- CFDs: fully available
How to use eToro
We mentioned before that eToro is very friendly and intuitive. Anyone can start using it without previous experience or long explanations.
If you have used before any of the most popular social networks today, you can perfectly manage eToro's interface.
Let's talk about the sign-up process and the different tabs you will find on the page.
When you register, you will have to enter your personal data.
To complete your registration, you will see that they ask you some questions about your experience as an investor.
But you don't need to worry: it is not an exam. They only intend to know how much knowledge you have and what type of financial instruments they can suggest. For example, if you have never invested before, they will not recommend that you invest in futures.
You will see a bar that says “incomplete profile” until you complete all the requested information.
Let's get to know the different sections of the platform.
With the “Set Price Alerts” tool, you'll be able to program an alarm when an asset is at a certain price. This is helpful in case you want to purchase a security and you are waiting for it to decrease.
The section “News Feed” allows users to interact and share their experiences and knowledge.
“Instruments”, “People” and “CopyPortfolios” are within “Discover”. And we already mentioned the kinds of assets that are available on eToro:
- Cryptocurrencies
- Exchange-Traded Funds
- Shares
- Commodities
- Forex
- Index funds
In the tab “People” are all the profiles and historical performances of other users, and you can replicate their strategies with just one click. This is where the “social trading” concept is best applied.
You can search for those users that best suit your interests: by average earnings, types of assets or risk level, for instance. Just indicate the amount of your investment and eToro itself will replicate the movements of the investor you chose, in proportion. This means that if you put $ 1000 and the investor puts 10% of their capital in Amazon, eToro will invest $ 100 of your money in the same asset.
In this section you will also find the three main types of CopyPortfolios, which are Top Trader, Market, and Partner.
The advantage of copying to CopyPortfolios instead of people is that this way the risk will be more diversified. The portfolios are identified so you can recognize them easily: 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.