Social trading broker eToro adds trailing stop loss to live trading

Social trading broker eToro adds trailing stop loss to live trading

eToro

eToro, a multi-asset broker and social trading network, said on Monday it is introducing a trailing stop loss feature to live trading accounts via new eToro. The feature was previously only available on demo accounts.

The new feature can be turned on or off at any time and is only available for non-copied trades. It allows to protect gains by automatically closing a trade if the price moves in direction different than the one that has beforehand been determined by the trader. eToro trailing stop lossThe difference between the trade opening rate and the set stop loss rate is automatically locked, but it gets updated every time prices move by 50 pips in the favorable for a trader direction.

In addition, eToro has also set a limitation to the minimum copy trade size. Investors are now able to copy a trader’s activities if their average copied trade size is higher than $1. If the minimum copied trade size is less than $1, investors will not be able to copy trades.

Also a new addition is that investors will be offered to deposit directly from the open trade pop-up if they want to make a trade with an amount higher than the available they have.

eToro currently only offers the eToro New trading platform, which was launched in November 2015. It replaced the developer’s other iconic platforms – eToro OpenBook and eToro WebTrader. The platform allows trading in currencies, commodities, indices, stocks, contracts for difference (CFDs) and exchange-traded funds (ETFs). It runs across all types of devices.

The eToro brand combines the companies eToro UK, regulated by the Financial Conduct Authority (FCA), and eToro Europe, regulated by the Cyprus Securities and Exchange Commission (CySEC). The brand is active in more than 170 countries worldwide. It has more than 4.5 million clients with nearly 189million opened trades.

eToro’s social trading network competes with ZuluTradeTradeo, FxPro SuperTrader, SwipeStox and Tradency, among others.

Source: eToro

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