Wikitoro author Nadav Zelver
Written by Nadav Zelver
Wikitoro reviewer Wikitoro Team
Reviewed by Wikitoro Team

 

1. Introduction to eToro

When I first ventured into online trading, eToro stood out among all platforms. Not only for its user interface but the myriad of investment opportunities it provided. I became particularly intrigued with commodities, especially copper.

 

2. Understanding Copper as an Investment

My fascination with copper began when I learned of its nickname, 'Dr. Copper', due to its predictive qualities for the global economy. I studied its applications in industries like construction and electronics and monitored its price movements, which were influenced by various global events.

 

3. Setting up an eToro Account

The registration process on eToro was seamless for me.

First-Hand Experience: Within minutes, I had set up my profile, verified my identity, and was ready to fund my account. I used a bank transfer, but there are numerous options available.

 

4. Searching for Copper on eToro

With my account set up, I keyed in “copper” in the search bar. I was presented with futures, CFDs, and ETFs. Based on my research and risk appetite, I gravitated towards CFDs.

 

5. How to Buy and Sell Copper on eToro

Placing my first order was a mix of excitement and caution.

  • Ordering: I carefully chose the amount, keeping in mind my budget and the current market conditions.
  • Safety Measures: Based on my mentor's advice, I never skipped setting a stop-loss or take-profit point, even if it was tempting.
  • Leverage: Initially, I avoided leverage due to the risks. But as I gained experience, I started using it sparingly, fully aware of its implications.

 

6. Fees and Charges

Over time, I realized the importance of understanding the fee structure. I made it a habit to check the “Fees” section, ensuring no surprises at the end of a trade.

 

7. Monitoring and Managing My Copper Investment

I spent countless hours on eToro, utilizing its tools.

  • Tracking: The interactive charts became my best friend, helping me make informed decisions.
  • Alerts: Setting up notifications ensured I never missed significant price movements.
  • Diversification: Over time, I diversified my portfolio, but copper always remained a staple.

 

8. Risks and Rewards

I've had my highs and lows with copper investments. Global economic shifts and unforeseen circumstances like mining strikes affected my returns. But with perseverance and continuous learning, the rewards were satisfying.

 

9. Withdrawing Profits and Closing Positions

My first significant profit was exhilarating. Withdrawing it was straightforward, and the funds were reflected in my bank within days.

 

10. Conclusion

My journey with investing in copper on eToro has been enlightening and profitable. My advice to fellow traders is to always stay informed, seek guidance when needed, and never let emotions dictate your decisions.

 

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

Wikitoro author Nadav Zelver About Nadav Zelver

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