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£1349 Last Month on eToro, Working Just 4h!

March 17, 2017 by Andrew Minalto - 237 Comments
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Hello Everyone!

This week I have prepared something very special for you – let’s put aside eBay, wholesale and eCommerce for awhile and take a look at one specific way of making money online I have been practising with great success for the last few months. Yes, I’ll share with you exact strategy that generated me £1349 in ONE MONTH alone, and yes – I worked on this just 4 hours in total (1 hour every week)!

Question: How to get extremely wealthy? As wealthy as Warren Buffett for example?

Answer: by using Money to Make More Money!

In some way it relates to eCommerce World as well – we buy stock for wholesale prices and sell for retail prices to make a profit. But Warren Buffett didn’t open a B&M shop or a fast food restaurant chain, no – he used money to invest in financial instruments, such as stocks and shares. I have always been interested in such financial markers, stock trading and generally, in “using money to make more money” concept. Years ago I was heavily involved in Betfair trading, which is actually quite similar to stock market day trading. But already back then I realized that day trading is not for me:

  • It was a very boring way of spending your day, glued to PC;
  • It was very stressful;
  • Potential earnings were some way limited, at least for my trading techniques.

But still to this day, from time to time, I was looking for opportunities to invest money to make more money. With increased profits from my info products business and eCommerce stuff, I wanted to find a way I could invest my profits into some sort of financial instruments to let my money make more money, hands free way!

Problem is that with most traditional financial investment instruments, such as stocks, mutual funds, savings accounts etc. your potential ROI is very small. Risks vary from one instrument to other but in general, in my opinion, reward for taking those risks is way too small! Invest in dividend paying stocks for 5% yearly ROI? 5% per year? I would better use that money to buy a pallet of un-branded Tablets, made in China and sell off in 3 months time for 20-30% ROI on eBay. Yes, selling physical products involve way more work than financial investments but again, 5%-10% yearly returns doesn’t sound appealing to me either!

And then it happened – six months ago or so, when I was searching for some creative ways to invest money, I found a concept that totally blew my mind away! Same concept that few months later made me £1349 net profit in one month alone!!! And today, I’ll share with you exactly how I did it…

Welcome to the World’s Largest Financial Marketplace – Currency Trading!

What is Currency Trading in first place? To put it simply, it’s the World’s largest financial Marketplace with estimated turnover of more than $4 trillion each day. Currency Trading (further in text simply “Online Trading”) is a market where anyone (individuals, banks, investment firms etc.), anywhere in the World can conduct foreign exchange transactions (hence sometimes it’s called “currency exchange”). Basically, it’s all about the PRICE for currencies being traded – will it go up or down (based on all kinds of political, economical, market etc. factors), much like with STOCK MARKETS. So you try to buy “low” and sell “high” to make profit.

What makes Online Trading so unique?

  • Huge trading volume representing the largest asset class in the world leading to high liquidity;
  • Geographical dispersion;
  • Continuous operation: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday.

If you’re looking for more detailed explanation on what Online Trading is all about, please take a look at Wikipedia page here. It may take some time for you to fully grasp how it works, especially if you know nothing about stock markets etc. but essentially, it’s not that difficult concept to understand. When I try to explain to other people what Online Trading is all about, I just say that it’s very similar to buying and selling STOCKS, with the difference that with Online Trading you buy currencies and not stocks, bonds or other financial instruments.(which are also available as we’ll discover later on)

Another interesting nuance with Online Trading is that you’re actually buying/selling currency pairs and not individual currencies. Why’s that? Because it’s is a currency exchange marketplace and to buy one currency, actually means EXCHANGING it with another one.

It looks something like this:

EUR/USD is the MOST popular currency exchange pair. But you can trade on more currency pairs plus most Online Trading platforms offer trading Gold, Silver & Oil as well as World’s leading stock exchange indexes, like SPX500, NSDQ100, DJ30, FTSE UK 100 and others.

For now, you just have to understand what Online Trading is and how you can make money from it. It’s simple, right? Buy “low” and sell “high” to make a guaranteed profit! Much like with stock markets, right? Then why 99% people lose money with this in long term? Why so many people are losing their life savings when stock markets collapse? Because the tricky part with Online Trading and stock markets is to know WHEN to get it and WHEN to get out. That’s the simplified key to success with financial trading – to know exactly WHEN to buy and to know exactly WHEN to sell!

And this is where SKILLS & EXPERIENCE plays the biggest role. Currency prices, stock prices, oil/gold prices changes based on all kinds of factors, like political/economical situation, decisions, credit ratings, storms around the World, terror acts, inflation etc. etc. A Trader (person who trades) have to learn how all these factors affect currency exchange rates to predict when prices will go up or down, to make profitable trades. Now, these skills can’t be learned by reading few books or by watching some YouTube videos. You would have to spend years upon years on practising these skills and even then, there are no guarantees that you’ll succeed. Plus it’s a well known fact that it takes a lot of nerves and gray hair to become a TOP Trader – be it Currencies, Stock markets or Betfair – principles stay the same for all Marketplaces.

At this point you should say – so, what’s the point in doing all this? EXACTLY! Chances are very slim that you could become a professional Online Trader BUT here’s the good news – you DON’T HAVE TO!

The day when I found eToro really changed the way I look at Online Trading!

What’s eToro and what’s so special about it?

eToro is a social investment network. It acts as a middleman between traders by creating special online platform and software so that whole trading process is straightforward. These days, anyone, with as little as £100 can open an account and start trading on eToro. The currency buying/selling process is so simple and visually appealing that a child could perform a trade! Just take a look at eToro’s screen shot below:

As you can see, it takes just one click to buy or sell EUR/USD currency pair. The simplicity of these Trading platforms is the number one reason why online trading is so popular these days. Tens of millions of “normal” people are trading online nowadays, from the comfort of their homes. There are dozens upon dozens of different websites and eToro alone attracts more than 5 million users. But that’s not all, eToro is the World’s first social investment network offering a brand new, UNBELIEVABLE feature called the “eToro Copy Trader”!

And this is the reason why I actually started looking into online trading! I knew about opportunities to buy and sell currencies online years ago but always stayed away as essentially, it was the same day trading concept I went through with Betfair trading. eToro has changed this and basically merged Facebook concept with online trading concept to create ultimate, social trading platform. Click on the video below to see how exactly it works:

When I saw this first time, I thought – WOW (!!!), this is such a good idea! I knew that chances of becoming a profitable trader for me are very slim and it would take long years, wasted down the drain if it didn’t work out at the end of the day!

Why spend years on learning this stuff when you can simply copy what BEST OF THE BEST are doing?

Would you spend years trying to learn how programming works to create a shopping cart? Or simply buy Open Cart, 3D Cart or any other pre-made shopping cart systems? And eToro offers just that – opportunity to copy exact trades best traders are carrying out. And this is the core concept for my system: Copy Best Traders on eToro to Make Profit WITHOUT actually doing any trading on my part!

The idea has a very simple and straightforward reasoning – to follow absolutely BEST traders and earn money from their experience and trading skills. If these top traders couldn’t make me profit in long term, there’s no chance I could do it on my own, right? Exactly!

So with this strategy, absolutely anyone, anywhere in the World, even without any experience with Currency Trading should be able to show a long term profit. Of course, there are some important questions that need to be addressed, like: which traders should I follow? How to minimize risks? How to manage investment portfolio? I’ll try to cover most important elements in this blog post to help you get up and running ASAP without wasting months learning how to best utilize eToro’s trading platform.

My System Explained

Currently, eToro allows us to copy up to five traders and I believe the best way is to maximize it to full potential and divide your money equally to 10 traders you’re following (10% goes to each bank). Obviously, the more diversified your portfolio is, the less chance of big loses when trader’s performance goes down. My general rule of thumb is to absolutely minimize potential loses, even if that means lower profit in long term. By this I mean – I only follow/copy traders with low to medium risk portfolios, with proven and positive record of at least 6 months. eToro makes this process extremely easy as you can analyse each trader’s trading style, past performance etc.

I have created a 5 filter system I use each time when looking for new traders to copy:

* Filter #1 – Trading History

This is the most important one as shows how well any particular trader performed over the last 6 months. You can also change data range to last week, last month, last year but I have found that it’s best to stick with last 6 months as this gives the most objective information.

What you’re looking for are traders with steady, increasing graphs without big jumps or long losing periods. Why? because we’re looking for professional traders who know what they’re doing, not gamblers or lucky newbies making few good trades and then losing it altogether! A perfect example of what kind of trader you want to follow:

As you can clearly see, MarianoPardo (trader’s nick name) has a proven track record of profitable trades making more than 30% yield over last 12 months.

* Filter #2 – Risk Breakdown

I’m all for high returns on my investment BUT usually they come at a price. Yes, there are traders who make 10% a day by Trading on eToro BUT they’re usually involved in high risk, high leverage trades. This is something I always try to avoid as I’m not looking for a quick million here – it’s all about steady, positive ROI in long term. That’s why you want to check out trader’s portfolio allocation graphic:

* Filter #3 – Copiers

You want to copy ONLY real traders, not people who follow & copy other traders! That’s why you want to check if trader copies anyone or all trades are made by himself:

As you can see, this Trader has only 0.47% of ALL trades coming from Copying Other people, this means that he is making his own trades in 99%+ cases.

* Filter #4 – Open Trades

Next thing you can check on trader is Open Trades. Open Trades show all trades that are currently opened by trader. What we’re looking for? Avoid traders with negative Open Trades that are opened weeks or months ago.

For example, a trader opened a trade 3 months ago, price went to the wrong direction but instead of taking loses, trader left that trade opened in hope that in future price will go back. This is what I call GAMBLING and you definitely don’t want to copy gamblers!

* Filter #5 – Trading History

Lastly, check trader’s history to see results for most recent trades. Pay close attention to number of trades executed per month – I wouldn’t choose a trader with less than 10 trades as I’m always looking for active traders that are trading each and every day.

Don’t be afraid of sellers with lots of negative trades! Even more – I would rather see some negative trades in trader’s Trading History as that would show that trader sets proper stop loss points and takes adequate loses when market goes the wrong way. You’ll see many traders on eToro with 100% positive trading history but when you check their Open Trades you’ll see why – they’ll have large, negative Open Trades left for months, so that they don’t have to close them and face loses.

Ok, so these are my TOP 5 filters to find good traders to copy on eToro! With experience, comes ability to spot good traders almost instantly so don’t be afraid if this all looks too complicated in the beginning. Once you find your first few traders to copy, next time you’ll look at all this data with more knowledge and power to separate good traders from bad ones. There are some other things you can check like Trader’s comments, 12 month trading history and others but for beginning, these 5 filters should be enough to find good, profitable traders to follow.

How to Get Started

1) Open eToro account

There’s no cost involved to use eToro. There are no sign up or monthly subscription fees involved. You could ask – what’s the point for traders to share their strategies with other people by allowing them to copy trades? That’s the best part of this – these traders get commissions from trades carried out by their followers/copiers! This means that those traders get paid based on their performance – the better they perform, the more money they earn! It’s an absolute win-win business model and I really think it’s groundbreaking feature in whole Online Trading industry.

2) Deposit money

eToro accepts credit/debit cards, PayPal, wire transfer and some other payment methods. You can start with as little as $50 but I recommend depositing at least £200 – £300.

Why? There are two reasons:

1. With smaller amount you won’t be able to copy 10 traders as then you would have only £5 for each. Most trades are being made with very small % of the bank and with £5 you may actually not get all trades as some will be below 1p. If you absolutely must go with minimum $50 deposit, copy just one trader in the beginning (not best from risk management point of view).

2. eToro offers credits on first time deposits! The more you deposit, the more credit points you receive. And this credit applies only to first time deposits, make sure you use this promotion and get most out of your initial deposit.

3) Find 3-5 traders to follow

Once you have opened account and deposited some money, it’s time to find traders you want to copy! Stick with my 5 filter system explained in this article and find 5-10 traders. I always stick with 10 traders as that gives me managed risk when one trader starts to perform badly. When you have 10 different portfolios, risk of losing large amounts of money is minimized.

4) Evaluate traders each week (1 hour)

This is your actual, on-going work! Spend at least 30 minutes to one hour each week to analyse how your traders are performing. If you see that trader’s performance goes down, un-copy it and look for a new trader to copy. I do this by re-evaluating last month trading history graph for each trader, each month.

5) Know when to quit

Don’t be a gambler and know when to quit, even if it means taking small loses in short term! It’s crucial to monitor how your traders are performing and if you spot a negative trend, un-copy that trader, even if it means closing down some un-profitable/negative trades. It’s all about long term profits – you have to be prepared to take some loses when trader goes down, that’s part of the plan.

The Effect of Compounding

So here it is, my exact strategy that made me £1349 in one month copying other Traders! Surely, you won’t make that much from a bank of £200 BUT it’s essential to understand how compounding effect works with financial investments like these. Do you know how much could you have in one year by starting with £200 and making steady 10% ROI each month? £627.69  What about 2 years? £1,969.95 And 3 Years? £6,182.54

The problem is that most people are impatient and simply switch from one idea to another every month! That’s not how you’ll achieve long term profits with Online Trading. This game is for people who are ready to wait and be patient. Good thing is that with eToro and this simple system, it’s not like you have to work very hard on this. Anyone, with a full time job can invest few hundred pounds and try this out for at least few months. Maximum you’ll spend 30-60 minutes each week mostly to check profitable trades!

Another great strategy to boost the effect of compounding with Online Trading is by keeping investing small amount of money each month. For example, you have £200 spare income each month – you start trading on eToro with £200 and seeing that your strategy works and you’re making a steady profit, keep adding £200 to your bank each month. At least for first three years. What effect this causes? MASSIVE increase in overall bank value!

For example, if you start trading with £200 and get steady 10% each month BUT do not add any more money to your bank, at the end of five year term your bank will be £60,896.33. On the other hand, if you keep investing additional £200 for next five years and still make 10% monthly gain, your bank after five years will be £728,555.93. That’s a massive difference and reason why I recommend you to keep investing, even small amounts of money, each month to help compounding effect do it’s work at maximum rate!

To sum it up – the longer you leave money “in system” and let compounding do the work, the greater profits you’ll face. Think about all the large investment companies, same Warren Buffett – they also invest money in long term and they perfectly know that it’s all about constant strategy and patience – be it a economic boom or recession.

My personal goal is to achieve 20% – 30% yearly yield with as minimum risk as possible. Because I know how those 20% – 30% each year accumulate over longer period of time! And this is all passive income, don’t forget about that.

Trading Gold/Silver/Oil/Stocks/Indexes

Yes, eToro also offers trading with Gold, Silver, Oil and this is actually something I’m looking into on my own, apart from copying currency traders on eToro. I really believe that there’s a huge potential in Oil and Silver (gold is over-priced in my opinion, this is not the best time to purchase it). Particularly OIL is what interests me most as I’m confident that oil price will increase significantly over next 5-10 years. What I’m looking forward is buying oil using eToro’s platform as a long term investment and make huge ROI when price rises in few years time.

Here’s another interesting feature for eToro – LEVERAGE! Leverage means that you can trade with more money than you actually have in your account. It’s hard to explain in one paragraph but for example, with a bank of £200 you can purchase OIL worth £1000. This means 5 x more profit when price goes up and you decide to sell. If you’re interested more about how Leverage function works, check it out in your eToro account.

Conclusions

I wanted to share this with you just to show what’s out there apart from eBay, online shops and Amazon Marketplace. I do not plan on investing all my money in this and quit doing everything else, at least not for now. Obviously, risks are still involved with this kind of investment but potential profits are huge! If you copy good, long term traders and do not make any stupid mistakes, it would be really difficult to lose your initial investment.

Yes, risks are involved so DO NOT invest all the money you have or do similar stupid stuff! You should only invest money you can afford to loose, no matter what happens. You can start with few hundred pounds and trade for 3-4 months. If you’re getting steady profit, then you can invest more. But in no way I can guarantee you that you’ll make money.

I really hope this rather lengthy article is somehow valuable to you! I know that it’s a not a Bible on how to make money on eToro but I have tried covering at least all the basic stuff and shared you my detailed experience. Any questions, feel free to leave a comment below this post and I’ll try to give you more detailed advice.

Best Regards,
Andrew Minalto

***********************************************************************************

I have a NEW – 2016 UPDATE for eToro Trading!!! Click on the Link BELOW:

eToro REVIEW for 2016 + My Results & Update!

***********************************************************************************

All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results. This post is for educational purposes and should not be considered as investment advice.


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237 Comments
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  1. David Crichton

    There are lots of fees taken by eToro as they convert your cash for trading and then back again for withdrawal and charge a withdrawal fee. So according to the website I had a 10% profit, but on withdrawing my money it was actually 10% less than I invested and the money came out in about 10 separate payments. No benefit to me and a significant loss.
    All these type of copy trading sites are not for the trader and you are almost guaranted to lose money.

  2. Hi Andrew

    Great article, it’s great to see somebody so active after so long.

    I am a little confused about the ROIs. From a very brief look at the “copy trader” page on eToro it shows profits as annual but then you mention a monthly income. If I invest $200 in someone with 20% ROI would I be making $20 per year or per month?

    Thanks

    1. Andrew Minalto

      Hi Mike,

      It’s a yearly ROI, yes shown on eToro website.

      I have simply divided it for my own purposes on a monthly basis.

      Thanks,
      Andrew

  3. Hi Andrew,
    Where would I be able to find a list of countries that are compatible to trade with eToro?
    I am from New Zealand and don’t want to deposit funds until I am sure I can withdraw them
    Cheers

    1. Andrew Minalto

      Hi Nick,

      If you can open an account and deposit funds, you should be able to trade on eToro and withdraw funds later on.

      To be 100% sure, simply contact eToro customer support so you have this in written form.

      Andrew

  4. Hi Andrew

    What traders have you been following ?

    1. Andrew Minalto

      best ones! 🙂

      Please read the article carefully, I explain this in detail.

      Thanks,
      Andrew

  5. Hi Andrew, very interesting comments about etoro. I have just started copying and investing quite heavily. I notice a comment about withdrawal limits. If I have deposited all my funds via debit card, how in the future can I withdraw my potential profits. Will it simply be a case of setting up my direct bank account details with etoro for large withdrawals.?? Thanks in advance to comment.

    1. Andrew Minalto

      Hi Simon,

      Thanks for your comment.

      Yes, I personally use bank account and have no problems or limits with any withdrawals.

      Thanks,
      Andrew

  6. Hi Andrew,

    The account is active now but not buy order are not getting executed. Raised a ticket with the customer services looks like they will take 4 days to reply. Please advise if there are any videos available to learn. Thanks!

  7. Hi Andrew,

    I have submitted all the documents to eToro and my application is pending verification since 3 days now. I have also transferred some funds in to it. The account shows available funds and allowing me to place the buy order which I have done. The crypto price went further below my buy order price but I’m not able to see anywhere the executed order or number of cryptos I have purchases. Can you please let me know how to check the executed order.

    Also please let me know how to modify the pending orders here.

    Thanks a lot for your valuable comments.

    1. Andrew Minalto

      With questions like these you really should contact eToro support – they will be able to help you and answer these questions.

      Thanks,
      Andrew

  8. Hi Andrew,

    I was looking out for lot of information about eToro but most of them I found it on your article. Thanks for that it made my work much easier.

    Could you please give me some knowledge on what does overnight charges (per 10000 units) means. If I buy a Bitcoin and sell it after a month how will these charges are going to be calculated….

    Thanks

    1. Andrew Minalto

      Hi Naz,

      Please look at fees help page on eToro, it explains over-night fees for Bitcoin, other currencies and everything else.

      Basically the overnight fee is charged every day on open positions you have, but not in all cases (Buy positions are charged but SELL positions are not charged).

      Andrew

  9. Hi Andrew,
    I am leaving in Toronto, when I open account, the regulation said not accept Toronto of Canada, but some certain city is accepted, also ask some ID for verification, when I give my current address , the verification still shows pending, I v been waiting for few weeks already , because my address. So , while I am waiting I did play virtual account and made some money too, in this case , do you think it is ok to deposit my real money if my account verification will be pending forever. Thank you Andrew.
    Gloria

    1. Andrew Minalto

      Hi Gloria,

      I don’t know really how this works in Canada, sorry…

      You should probably get your account verified first before you start investing with real money.

      Thanks,
      Andrew

  10. Any plans on being a copy trader yourself? I know you put some work in it every other day you might not want to share for free, but I’m pretty sure there are some upsides for you as well (I’ve read something about lower spreads for example).
    Or are your copied trades ignored when you would be copied?

    1. Andrew Minalto

      I won’t do it – I have explained my reasoning before – I don’t want to take extra stress on this when I know that other people will follow me.

      Besides, I’m not a full time trader and there are many people who can do a better job, lol, as you can see on eToro! 🙂

      Andrew

  11. Hi Andrew
    How exactly are you taking your profit every month (or so)? Do you just stop copying a trader (or all of them) and invest again right away with less money?

    1. Andrew Minalto

      Hi Sueff,

      No, no. I take out money usually once or twice a year.

      You don’t want to do it too frequently as P&L will fluctuate quite a lot during the year.

      Andrew

      1. Thanks for the fast reply. But you do close the positions and start them again, or are there other ways (like removing funds) you use?

      2. Andrew Minalto

        yes, need to close positions and re-open.

        Usually I just withdraw money when I stop copying someone – then I have money on the balance.

        Andrew

  12. If I buy “stocks” on etoro, would they pay me dividends like the real stocks?

    1. Andrew Minalto

      No, as you’re not effectively buying “real” stocks.

      Andrew

  13. So, if I copy a trader I don’t have to do anything except analyse the person’s investment and see myself if I want to close and copy someone else? I could effectively leave it there for years?

    1. Hi Grace, thanks in part to Andrew, I’ve been learning the ropes on etoro for several years…it’s been a roller-coaster, but I think I’ve nailed it now. My name on etoro is ‘themoneymagnet’…thanks Andrew, you’ve helped completely change my investment strategy and financial freedom looks more achievable than ever!

      1. Andrew Minalto

        Great to hear that Steve, awesome! 🙂

        Andrew

    2. Andrew Minalto

      Yes, that’s exactly how Copy Trader works 🙂

  14. Hello Andrew,

    I see a lot of ppl around that they have withdrawal problem!

    Have you ever tried to withdraw? If yes, how many days did it take?

    Thank you in advance,

    Kostas

    1. Andrew Minalto

      Hi Kostas,

      I withdraw money almost every month, directly to my bank account.

      It takes 2-3 business days usually for money to arrive, sometimes just 1-2 days.

      Thanks,
      Andrew

    2. Ok I just saw the same question right after mine!

      So how many days it took for the withdrawal?

  15. Thanks so much Andrew my only concern is ive heard so many people using online trading having issues with withdrawing how can you guarantee etoro pays out?
    I know you say it does and you just need to give your proof of identity etc but how do I know it will pay put unlike many others that people still struggle to withdraw on some scams.
    I’m not saying etoro is a scam but others are and this is where I need to know they genuinely pay out .

    1. Andrew Minalto

      Hi Craig,

      Thanks for your comment.

      I personally can’t guarantee you anything as I’m not the owner of eToro.

      But I have never had any problems withdrawing money from them. Plus – they have millions of members – imagine how quickly bad news would spread if they don’t allow withdrawals. Those horror stories you see/read online – it’s a super small fraction of the actual eToro user base and usually are associated with user fraud – using different identities, ID scams, not willing to send proof of ID etc.

      Lastly – eToro is a financial institution that is regulated in the UK by the FCA, just like regular banks. So if eToro would theoretically refuse you to withdraw your money, you could seek help at FCA and get it sorted out.

      Thanks,
      Andrew

  16. Hi Andrew,

    Thanks a lot about this great data, I have a simple question about that all…Can i make real income monthly only by “Copy people” ?

    Thanks a lot

    1. Andrew Minalto

      yes, that’s exactly what I do!

  17. How difficult is to withdraw money from eToro? There are a few scam brokers and I had bad experience with one recently where they simply refuse your withdrawal requests any number of times you put in, so I am a bit cautious. Have you been able to withdraw funds from eToro without any issues?

    1. Andrew Minalto

      Hi Suresh,

      I have never had any problems withdrawing money from eToro.

      First time you do it, they ask to verify your identity and that’s it. After that first time, it’s a very easy and straightforward process.

      Thanks,
      Andrew

  18. Hi Andrew,

    I have heard that etoro allow to withdraw only maximum amount of what we have deposit. Is that correct? Suppose I have made 300$ deposit via credit card, and I can only withdraw from with the amount of 300$? If we have made a good trading and earn more that what we deposit, could we withdraw?

    Regards,

    Sokhawin

    1. Andrew Minalto

      Hi Sokhawin,

      No, I think that rule applied applied only to one specific payment method – can’t remember which one, I think it was credit card, but not sure.

      There are no such limits on bak account withdrawals.

      Andrew

  19. Mstr Mohamed

    Hello Sir!
    I have a question about Etoro, if you could help me
    well,
    can I start with 50$ , and try to buy stocks by myself! (” because the minimum price to buy a stock is 10$ “), then when I earn 100$ , start copy a traders ?
    and thank you

    1. Andrew Minalto

      No, you can’t, as minimum deposit is $200.

      Andrew

  20. […] in 2012, I wrote an article on this blog about how I had made £1349, working just 4 hours, using eToro – a revolutionary new concept of social […]

  21. In order to copy a trader, you will need a minimum of 100 or 200 dollar; euro or Pounds. In this story you told us that you have just invested £200, and you copied 5 people. In order to copy 5 people you will need at least 500 or 750. This “story” has some reasoning, you can follow 10 traders and you can place buy or sell order (whenever they act) in a mt4 platform and clicking on their portfolio and then to open trades copy the stop loss and take profit position. Else with £200 it is impossible to copy 5 or 10 traders on etoro!

    1. Andrew Minalto

      Hi Rags,

      Thanks for your comment.

      When I published this guide, the rules were different.

      Please check my updated guide here:

      http://andrewminalto.com/etoro-2015-update/

      Thanks,
      Andrew

  22. […] £1349 Last Month on eToro, Working Just 4h! […]

  23. Hi Andrew,

    I am wondering what happens if your PayPal account gets blocked or suspended as it happens often with PayPal and sometimes without any decent reason as you know. So how about withdrawal after investing loads of money to Etoro platform via PayPal after your account gets suspended for example?
    How would you take those money out if it has to be the same source as you have invested money from.

    P.S. Can not wait for your eToro update! 🙂

    Regards,

    eBayer

    1. Andrew Minalto

      not sure on what happens in situations like these.

      You should ask this on eToro Live Support chat to get direct answer from them.

      Thanks,
      Andrew

      P.S. My eToro update will be published on Thursday! 🙂

  24. Hi Andrew. I found out about eToro today, and naturally went out to research and found you blog. Thing is now eToro allows for 20 traders at any time. What are you thoughts on this, the more the merrier? Of course you will have to spend more time evaluating their performance. If so I assume it would be rational to multiply your initial investment?

    1. Andrew Minalto

      Yes, 20 traders but min. you can invest in each is now $100. So you need at least $2000 to invest in all 20.

      I usually copy 10-15, depending on what’s available.

  25. Peter Stephens

    Hi Andrew

    Good article – need to really print it out and read it carefully, but it seems a robust method of choosing people to copy. My only small comment I would have regards the info you put above it your statement that you pay 0% tax in the UK on gambling winnings. The official line from the HMRC is that if you do not have any other regular taxable income other than gambling you will probably be classified as a professional gambler (your trade) and may loose your BIM22017 exemption and as such will have to pay tax – the easiest (legal) way around this is to have a taxable income and trade at the same time – even if you make more on the trading, you will be OK. As a side note anyone with “day trader” or such on their passport or facebook / linkedin etc as their profession will have a harder time convincing HMRC not to make a case against them.

    1. Andrew Minalto

      Thanks Peter for your comment!

  26. Hey this was really awesome. Thanks alot. Im 22 and planning to invest some.money into this. I have a small question. Is there a way to add money to etoro using a debit card and can i receive funds in another way, as in a direct transfer to my savings account, etc.

    1. Andrew Minalto

      Hi Samesh,

      No, you have to withdraw money to same source you funded your account with.

      Thanks,
      Andrew

      1. Gareth

        Hi Andrew, I like your site and the articles are really well structured, thanks.

        I have invested with Etoro a similar amount and adopted the strategy you have suggested currently spread across 7 traders.
        Its progressing well but I am also nervous about many people having withdrawal issues. You mentioned you were looking to withdraw the orig 10k investment …did you do that?
        Also really looking forward to the 2014 review – when will that be released, thanks, Gareth.

      2. Andrew Minalto

        Hi Gareth,

        Thanks for your comment.

        Yes, I did take out my original investment. Not sure really what people brag about – all they ask is to verify identity and use same payment method for withdrawal that you used for uploading money into account. It’s all basic, anti money laundering stuff and doesn’t cost you anything extra.

        I think people who complain about this, use fake identities, fake address etc. and then can’t verify their identity.

        My eToro update article should finally go live next week!

        Thanks,
        Andrew

      3. Gareth

        That’s excellent, thanks for your very quick reply Andrew…:)

      4. Andrew Minalto

        no worries Gareth, you’re welcome! 🙂

      5. Samesh

        I see, thanks andrew.

        What I find a little difficult is that i read many reviews saying that its difficult to withdraw money from etoro and all that. I am having second thoughts. Is this true and have you had any similar problem?

      6. Andrew Minalto

        No, it’s not true.

        Yes, they ask you to verify your identity but if you’re not hiding your real ID, it’s not a problem. PayPal also verifies identity in a similar way and that is something all financial institutions must do by law.

        Thanks,
        Andrew

  27. John Macleod

    I found your article very informative and very helpful, I’m new myself to looking into this kind of thing copying other trades, It as you say sure and steady is a good angle.
    There is one thing I read which alarmed me that you were looking to invest in oil for the long term as you were convinced it could only increase in value – I hope it hasn’t been a bad one for you.

    Regards,

    1. Andrew Minalto

      Hi John,

      Thanks for your comment.

      Ha-ha, yes – that’s a good one – on the oil! 🙂 Luckily I got out already on 2013 with my oil investment as you can see here:

      http://andrewminalto.com/my-etoro-trading-strategy-update/

      Seeing today’s price, I’m glad I did so 🙂

      Thanks,
      Andrew

  28. Paul Jefford

    Hi Andrew
    Great post. i started up with etoro deposited £200 ($300) and did some good research following your steps but on most decent traders etoro will only let you copy them with a minimum of $100 so im copying 3 traders right now or can I follow them for less and spread my portfolio to guard against big losses? Am i doing something wrong. I’m going to invest £200 every month in this – saving for my dream house! haha so is just a case of copying each trader for $100?

    Also bought EAB – its really great and will book my hour chat in soon – keep up the great work!

    Paul

    1. Andrew Minalto

      Hi Paul,

      Many Thanks for your EAB purchase! 🙂

      Yes, $100 is minimum you can invest in each trader when using Copy Trader function. So you’ll have to wait for a few months until you can invest in maximum allowed – 20 – traders.

      I will be doing an eToro 2015 update article in January, so stay tuned!

      Thanks,
      Andrew

  29. Hi Andrew,
    Simple question- How can I invest in you:)
    Excellent site/blog,I,m very interested in etoro,probably your one millionth customer,saying the same thing ,lol,but like everyone else,it’s an intimidating world to the uninitiated, so I guess I,m looking for a gentle hug before taking the plunge.
    My hard earned pound would seriously like some new buddies,so I intend to begin using your filter system,and hopefully settle in for the long term.
    Thank you for the great and common sense advice and will keep you informed of my progress,good or bad.
    A Happy and Prosperous New a Year to you.

    1. Andrew Minalto

      Thanks very much Stevo!

      In January I will publish my eToro 2015 update, so stay tuned.

      Andrew

  30. Hi Andrew,

    Are you still doing this and have you published this years results anywhere?
    Also is this the best page to follow you on?

    Nas

    1. Andrew Minalto

      Hi Nas,

      Yes, I’m still doing this but haven’t had time to do a post yet. It’s been a very busy time for me but I really hope to get it done soon.

      Thanks,
      Andrew

  31. Mandy Allen

    Hi Andrew, is this still working for you? I notice the post talks about profits made almost 3 years ago, do you still trade and do well with this method? Just looking at options that could return more than the paltry bank interest right now!

    Enjoy the journey.

    Mandy

    1. Andrew Minalto

      Hi Mandy,

      Thanks for your comment.

      Yes, I’m still doing this and it still works. An update post for 2014 is planned very soon, I just haven’t had time to do it yet.

      Thanks,
      Andrew

  32. HI,
    I wanted to know if you heard about PAMM (Percent allocation management module : http://en.wikipedia.org/wiki/Percent_allocation_management_module), and what do you think about it?

    Thanks

    1. Andrew Minalto

      sorry, no – I haven’t heard of that.

      I’m not a professional trader really and try to stay away from such technical stuff.

      Andrew

  33. Hi Andrew,

    Great post once again, Just want to mention etoro is no longer available in the USA.

    Thanks

  34. Hi Andrew,
    Thanks for the tips, they’ve been invaluable in navigating this intimidating field as a beginner.

    One problem is that there seems to be a crash in the Euro this week (I think :-s) which has caused about 60% of my investors to have drastic and uncharacteristic losses over a short period of time. According to your advice I should drop them, but this doesn’t seem right in light of their solid history and the unforeseeable crash.

    Thoughts?

    1. Andrew Minalto

      Hi James,

      Yes, such sudden changes are not un-common. I personally would take a close look @ past performance and if it’s a really good trader, with good/positive history for at least 12 months, then I would probably keep them on and just see how it goes.

      Thanks,
      Andrew

  35. You said you started with roughly 10,600 GBP, if you don’t mind me asking, are you still currently doing this strategy and actively watching it? And how much are you at now?

    1. Andrew Minalto

      Hi Evan,

      Thanks for your comment.

      Yes, I’m still doing this. I’m planning on writing my yearly eToro update post very soon and publish it in May.

      So stay tuned for updates on this.

      Thanks,
      Andrew

      1. Actually I have a couple other questions I forgot to ask. I noticed earlier you said you use your credit card to fund your account and deposit money to etoro. Does that count as a cash advance on your credit card?

        Also, if I copy someone who does manual trades and also copies other people, does it only copy their manual trades for me or does it also copy their copied people as well?

      2. Andrew Minalto

        Hi Evan,

        1) I’m using PayPal now for all transactions with eToro.

        2) Yes, you’ll copy ALL manual trades and trades they copy.

        Thanks,
        Andrew

      3. Thank you for responding so swiftly. I\m very excited about starting on etoro. I have thought about it for the past year but this article and your first yearly update are what has got me excited.

  36. Bishal Khatiwada

    It was a great post. I have some confusion about etoro. I started trading in gold but when the week ended my trading was disabled automatically. Is that according to the rule or I have been missing something? Thank you in advance

    1. Andrew Minalto

      Hi Bishal,

      Yes, you want to “click” – Carry trades over weekend when investing in Gold to keep your positions over weekends.

      Thanks,
      Andrew

  37. Hey Andrew. Found the guide very useful. I’ve been using eToro for a couple months but mostly putting my money on big companies like Google.

    It’s been 2 years since you wrote this. Mind telling us if you keep using eToro and if so how are you doing so far?

    1. Andrew Minalto

      Hey!

      I have an update for last year here:

      http://andrewminalto.com/my-etoro-trading-strategy-update/

      Yes, I’m still doing this, and doing good – will publish another update very soon to cover year 2013!

      Thanks,
      Andrew

  38. Simon Laprida

    Hi Andrew, there is something that I do not know yet. And that is. When you sell, you can send your money back to paypal if you want?
    Thank you, and great article.
    Simon, from Argentina.

    1. Andrew Minalto

      Hi Simon,

      Yes, at any stage when you “sell” and release money in your account, you can send it back to PayPal/bank account etc.

      It’s called Withdrawal.

      Thanks,
      Andrew

  39. What is your username on eTorro Andrew? 🙂

    1. Andrew Minalto

      thousands of people would like to know that, and that’s exactly why I won’t disclose it.

      I couldn’t live with the pressure & stress knowing so many people copy me..

      It’s a hobby of mine and I like to keep it that way.

      Thanks,
      Andrew

  40. Andrew Minalto

    Hi Piotr,

    When I usually start copying a new trader, I don’t copy existing trades (in most cases). Mostly because it’s playing games then deciding on which trades to copy, which not as there will always be some good trades in green and some in reds.

    As for checking trader’s performance – yes, at least once a week you want to monitor each trader’s performance and make adjustments if needed.

    Thanks,
    Andrew

  41. Hi,

    I just started with etoro.. I don’t have enough funds to start big so I put 50$ and found one guy to copy (with LOW risk), should I wait a month now, invest another 50$ and diversify? ..should I find a second person to copy?
    What would you do if you had as little as 50$ at the very begining?

    Thanks in advance.

    Regards,
    Piotr

    1. Andrew Minalto

      Hi Piotr,

      Thanks for stopping by.

      If you’re just starting with $50, I would recommend it splitting into two parts and invest in 2 traders. Next month add another $50 to cover another 2 investors. Continue doing this until you have at least 10 traders copied.

      Thanks,
      Andrew

      1. Hi,

        many thanks for your reply.

        I don’t think it is possible. I added 50$ and tried to copy more than one trader but it seems that 50$ is the minimum amount I can operate with.

        Thanks,
        Piotr

      2. Andrew Minalto

        yes, just checked and minimum is now $50 (it was $20 before).

        Well, then you should save up another $50 top copy two traders or simply start with one (best) and add more traders as time goes and you can invest further $50 in each.

        Thanks,
        Andrew

      3. Piotr, that user is a terrible choice to copy… look at her 6 month graph.

      4. Hi,

        I have a few additional questions…

        I set $50 and I can have a few cents of profit daily… sometimes I can see $0,20 and sometimes -0,20 …
        When I copy a trader should I copy all open trades or copy only a few manually?
        What is a sign that I should change a trader to copy?
        Now I copy: https://openbook.etoro.com/santoshtiwari/overview/
        Should I copy a trade and check it just once a week or more frequent?

        Thanks in advance.

        Kind regards,
        Piotr

      5. I’ll do that, thank you….

        It’s hard to find a proper trader…
        I’m having trouble finding advance filters, only popular searches are available now?

        Regards,
        Piotr

  42. can i make money on etoro than ebay & ecommerce ??

    1. Andrew Minalto

      Hi Asad,

      Thanks for your question.

      If you wanted to ask “can I make MORE money on eToro than eBay & eCommerce”?, then answer is – no one can tell you that.

      It’s like asking how long is a piece of string?

      If you put one Million pounds into eToro system and manage 5% monthly return, that’s 50k in profit per month.

      If you put 1k in eToro and manage same 5% monthly return, that’s only 50 quid per month profit.

      And you can do 5% on eToro and you can do MINUS 10%.

      Same applies to eBay really – some people manage to make 20% ROI per month on capital while others are losing money.

      So there’s no answer to your question really.

      Thanks,
      Andrew

      1. Hi Andrew…
        First of all..thanks so much for your blog..you sem like a very reliable person!!!Thanks indeed for your information!!!
        A question:
        Based on the above example…a person has one million in the ETORO system…and manages a 5% monthly return…equals 50K…But, does that mean he would have to prepare his trade for high risk???Let’s say that person who has one million invested/deposited…if he/she adjusts his trades for a 95%low risk…can he still make the 50K???
        I don’t know if I was clear…
        Thank you anyway in advance 🙂

      2. Andrew Minalto

        Hi Paulo,

        The amount of money you invest, really doesn’t make a difference.

        Besides that if you invest one million pounds in eToro, you’ll most likely become a VIP client with personal consultant and other perks.

        Andrew

  43. Congratulations with this fantastic blog to clarify many questions for beginners in eToro, like myself. I can’t wait to try your strategy on.

    I have some questions about eToro. Would you be so kind to answer them for me please?

    1) What is the best way of finding traders, the search tool gets very limited and It alwyas ends up showing the same traders.

    2) When I copy a trader, I must specify the ammount I want to invest on them, but sometimes I can’t see the same open trades as they have. It is a bit confusing. What does COPY TRADER exactly do?

    I guess they more I play around with it, the more I will understand. So far It is a bit confusing.

    Thanks for your help!!!

    1. Andrew Minalto

      Hi Juan,

      Thanks for your questions.

      1) Advanced filters still is best way to find traders, Make sure you look past first 50 or so traders and also try Sorting results by gain, profit etc. It’s a shame that eToro did take down manual filters as that was my preferred way of finding traders.

      2) When you copy a trader, you can select whatever you want to start copying all new trades from now on OR copy already opened trades. So you want to select 2nd option if you want to copy all existing trades.

      Hope this helps!

      Thanks,
      Andrew

  44. I have been reading this article for the past hour now but I still don’t understand anything. I registered with etoro when they first launched I got a call from 3 of their agents giving me guidance but I didn’t get what they were talking about. one even offered to give me free class when he gets home so that I can trade, and win and also copy him. but I didn’t give in because I was afraid even till now I’m still afraid to invest in forex. Too bad this could be my only way of being successful online but I’m still afraid.

    1. Andrew Minalto

      Hi Quinn,

      Thanks for your comment.

      If after reading this, watching video etc. you still don’t understand, you shouldn’t follow with this idea. While eToro is a very user friendly platform, you still need to have basic understanding and knowledge in finance, mathematics in general and online trading.

      I’m sure you’ll find your path somewhere else.

      Thanks,
      Andrew

  45. Djalma Albino

    Hi Andrew,

    Thank you for sharing your experience. A big hug from Brazil.

    My doubt is: If you are copying 10 Traders: one or more of them this with several open orders and checks you that some of these orders that a profit of say 10%, some negative, in which case you will manually closing the orders or you are not positive moves to nothing and leaves everything on behalf of Traders?

    Note: Translation by Google

    1. Andrew Minalto

      Hi Djalma,

      Thanks for stopping by.

      Not sure I correctly understand what you’re asking – do you want to know exactly when to stop copying a trader?

      Let me know,
      Thanks,
      Andrew

      1. Djalma Albino

        No Andrew, I wonder if you close the orders manually copied. Or if you let it do all the Trader, ie that open and close orders.

        EXAMPLE: You are copying karaj51, karaj51 opened many orders, you will note that some are in profit, in this case you close manually or expect the karaj51 close?

      2. Andrew Minalto

        I do not manually close trades, no – unless it’s a bad performing trader I want to get rid off.

        Thanks,
        Andrew

  46. HI Andrew
    I STARTED STOCK TRADING IN THE BEGGING OF 2012 AND TILL NOW, I LOST MY HARDLY EARNED MONEY WORTH $800. SO I AM VERY SCARED OF STOCK MARKET.
    PLZ SUGGEST ME HOW CAN I RECTIFY THIS?
    WILL TRADING IN CURRENCY WILL HELP ME TO GET MY MONEY BACK?

    PLZ GIVE ME ADVISE,, WHAT I SHOULD DO….

    1. Andrew Minalto

      Hi Priyanka,

      Thanks for stopping by.

      You should never go in this by trying to earn your loses back – it’s gambling!

      There are always risks associated with stock trading and social trading – there are no 100% guaranteed ways to make money with this.

      But I would recommend you opening a practice account, and trade with play money for at least 6 months or so. If you then manage to show a positive ROI, then consider investing real money.

      If you need to earn money fast – get a job or start selling something online.

      Thanks,
      Andrew

  47. Hi Andrew,

    Please may I ask if you have found any way of seeing who the top copied and rated traders were historically, e.g. from 1, 2 or three years ago. I emailed etoro about this and they basically said to look through all the traders profiles one at a time (there are thousands!)

    My worry is that we are being presented with the traders who are doing well over the past six months or a year, but that could just be a lucky streak. There surely is NO certainty that they will continue to do well.

    With some serious google research I managed to get the IDs of traders who were well rated a couple of years ago. Many of them have crashed and burned, presumably taking their copiers with them! That includes some who appeared to be careful low-risk traders.

    I’m also having trouble finding unbiased review of etoro. Most of the reviews and blogs seem to be by people promoting etoro to get the affiliate marketing fees.

    I have set up a virtual funds account, but I’m very reluctant to risk real money until I can get more unbiased information.

    Any thoughts on this? Many thanks, Patrick

    1. Hi Patrick,

      No, there’s no such historical data available. I would also like to be able to go further back to 1 year data when filtering traders but unfortunately it’s not possible at this time.

      Trading is risky and surely there are many traders who go down on a regular basis, that’s why you want to monitor them at least on a weekly basis and get rid of bad performers as soon as you spot them.

      Don’t risk with real money if you’re not comfortable with this – just use your virtual account for a year or so and see how it goes.

      Thanks,
      Andrew

      P.S. As for eToro itself – it’s a legit as legit a financial company can be. They’re licensed by FCA in the UK and I have not had any problems with money withdrawals and deposits.

  48. Hi there,

    You say “EToro allows you to copy up to 5 traders” Then you go on to say you believe it is best to copy 10. How is this possible? Thanks. Tom

    1. Andrew Minalto

      Hi Tom,

      Sorry about that confusion – in the beginning there was a limit of 5 traders you can max copy (that’s why I have that line there). Now there’s no such limit so you can copy 10 or 20 traders if you want.

      Thanks,
      Andrew

  49. Hi Andrew,

    Many thanks for your insightful advice.

    One question: do you have any links to statistics on what the average gains are for the non-expert copiers on etoro, and what proportions of people are losing money.

    Many thanks, Patrick

    1. Andrew Minalto

      Hi Patrick,

      Thanks for your comment.

      No, I’m afraid there’s no such statistics available….

      I did research this several months when started on eToro but apart from some forum posts couldn’t find much info (that was one of the reasons why I put this blog post together).

      Thanks,
      Andrew

      1. Patrick

        Thanks Andrew.

        Yes, I’ve looked too, and could not find much. Presumably eToro would regard that as sensitive information.

        Once again thanks for your excllent blog.

        Patrick

      2. Andrew Minalto

        Glad I can help! 🙂

        Good Luck,
        Andrew

      3. Patrick

        Hi Andrew

        Another question if that’s ok.

        Have you tried ZuluTrade? It seems to give more control, and to give more information and stats about “Signal Providers” (like etoro Gurus)

        They seem similar setups, albeit with some differences.

  50. hi bro,

    if we requested withdrawal from Etoro to Paypal,

    there is $5 withdrawal fees charged by Etoro, right ?

    So any fees charged by Paypal when we use it to receive the money from 3rd party ?

    P/S : bro, did u ever make withdrawal from Payapl via Bank Wire Transfer ?

    1. I think Etoro has simply charged too much of the withdrawal fees, still Paypay does charge a small fee when we receive money from Etoro, right ? So 1 time withdrawal, charged by both size ya?

      then we could only make huge withdrawal but its not worth to a small amount the profit we hv made

      1. Andrew

        No, PayPal won’t charge you any extra fees as eToro uses mass pay to send out these payments (they cover PayPal fees for you).

        So all you pay is eToro fee.

        Thanks,
        Andrew

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