Summary: eToro is one of Australia's best cryptocurrency investing platform. Because of its large suite of digital assets, it requires new users to complete a quiz to prove they're competent investors. This guide provides the answers to those questions.
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eToro is a social trading and investment platform that allows users to trade a variety of assets, including cryptocurrencies, stocks, indices, commodities, currencies and ETFs. It also offers a unique CopyTrader feature, which allows users to copy the trades of other successful investors on the platform.
The company is headquartered in Cyprus and has offices in Israel, the United Kingdom, and the United States. eToro has over 10 million registered users from 140 countries. eToro is a regulated company, with licenses from CySEC, the FCA, and ASIC. eToro is also a member of the Financial Conduct Authority's Consumer Panel.
In this guide, we show Aussies how to complete the eToro exchanges onboarding "Trading Knowledge Assessment" quiz. The questions and answers vary depending on what country you are signing up from. For Australians you will only need to answer one question:
"Please mark the correct statements"
The correct answer is 'Opening a trade with $100 and 20x leverage will equate to a $2000 investment.'
When you open a position of a $100 investment with 20x leverage, it allows you to take a large position with a higher return, meaning that the individual account can achieve massive gains or steep losses by 20x. So the investment is $100 x 20 = $2000.
What is eToro?
eToro is one of the most secure digital asset investing platforms in the world. It has been around since 2008 and has never been subjected to any cyber attack. In addition to its security, it is regulated and licensed in over 50 countries. It has a variety of features that make it an attractive proposition for investors, including:
A user-friendly platform that is suitable for both experienced and novice investors.
A wide range of assets to trade, including cryptocurrencies, stocks, indices, commodities, and ETFs.
CopyTrader, which allows users to copy the trades of other successful eToro investors.
Social trading features that allow users to interact with other investors on the platform.
24/7 Live Support
Overall, eToro is a good option for investors who are looking for a user-friendly platform with a wide range of assets to trade. eToro's CopyTrader feature is also a great way to learn from other successful investors on the platform. However, eToro's commission fees can be expensive for investors who trade frequently.