How Do I Trade Crude Oil on eToro?

Written by Mike Druttman

Fact checked by Nick Zelver

Updated Mar, 2024

To trade crude oil on eToro, first create an account or log in if you're an existing user. Navigate to "Discover", select "Commodities", and choose "OIL". Decide on "BUY" or "SELL", enter the amount or units you wish to trade, adjust trading parameters, and then click "Open Trade".

Insight

Trading crude oil, one of the world's most sought-after commodities, caught my attention a while back. If you're also looking to venture into this exciting market, eToro makes it straightforward. Here's a guide I've put together this eToro crude oil how-to trading guide, based on my personal experience:

Step 1: Create an account on eToro / Log-in your account for existing users

For those new to the platform, begin by creating an account on eToro. If you already have an account, just log in.

Step 2: Click "Discover"

Once you're logged in, head to the "Discover" section. This is where eToro showcases a myriad of trading options.

Step 3: Select "Commodities"

eToro categorizes assets for ease of access. Click on "Commodities" to explore various tangible goods available for trading.

Step 4: Choose "OIL"

In the list of commodities, you'll find the option for crude oil labeled as “OIL”. Go ahead and select it.

Step 5: Select BUY or SELL

Decide whether you believe the price of oil will rise or fall. Depending on your prediction, click on either "BUY" if you think it will go up, or "SELL" if you foresee a dip.

Step 6: Key in your desired amount to invest or the number of crude oil units you want to trade

Now, input either the amount you wish to invest or specify the number of crude oil units you're aiming to trade.

Step 7: Review and set the stop loss, leverage, and take profit parameters

Before finalizing the trade, it's wise to set parameters that align with your trading strategy. Review and adjust the stop loss, leverage, and take profit settings to your comfort level.

Step 8: Select "Open Trade"

Feeling confident about your settings? Great! Now, simply click on “Open Trade” to get the ball rolling.

Wrap-Up

There you have it – trading crude oil on eToro in a nutshell. As I delved into this market, I appreciated the platform's user-centric design. If you're keen on trading other commodities or assets, the process is similar. Best of luck with your trading journey!

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. 76% 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.

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