User-Friendly Platform Educational Resources Social Trading Features
Wikitoro author Nick Zelver Written by Nick Zelver
Wikitoro fact checker Mike Druttman Fact checked by Mike Druttman
Updated Feb, 2024

To engage in trading Nickel on eToro, first ensure you are logged in or sign up for an account. In the "Discover" section, select "Commodities" and then "Nickel". Choose between "BUY" and "SELL", enter the trade amount or units, customize your trading settings, and finally, click "Open Trade".

Trade Nickel!

76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

Having delved into the fascinating world of commodity trading, I quickly realized the immense potential of Nickel. This versatile metal, crucial in several industries, often intrigued me. My journey led me to eToro and when I first stumbled upon its platform, I was instantly drawn to its user-centric design. It wasn't just about the vast array of trading options; it was the community, the shared insights, and the ease of navigation that made my trading journey so much more enriching. I've decided to share my experience, hoping to simplify your Nickel trading adventures on this platform.

 

Step #1: Setting Up or Logging Into Your eToro Account

Begin by ensuring your eToro account is verified and funded. The signup process is typically smooth. For security, I recommend using a strong password and enabling two-factor authentication.

 

Step #2: Finding Nickel on the Platform

To locate Nickel, simply use the search feature at the top of the user interface. Type in "Nickel," and it should appear at the top of the results, identifiable by its distinctive metal beam logo.

 

Step #3: Deciding to Buy or Sell

This crucial step in eToro Nickel trading involves choosing whether to buy (go long) or sell (go short). If you anticipate an increase in this metal's prices, opt for 'Buy.' Conversely, if you expect a decrease, select 'Sell.'

Buying nickel on eToro
Buying nickel on eToro

Step #4: Setting Investment Parameters

Here are some fine details that you need to know when it comes to the trade parameters:

  • The minimum investment for commodities, including Nickel, is $1,000.
  • Leverage can be used to enhance market exposure, but it's important to use it cautiously as it amplifies both potential gains and losses.
  • The maximum leverage available varies based on the managing entity of your account, ranging from x10 to x100.
  • Beginners are advised to start with lower leverage.
  • Setting Stop Loss and Take Profit limits is a smart way to manage risks.
Setting nickel trading parameters on eToro
Setting nickel trading parameters on eToro

Step #5: Executing the Trade

After configuring your trading parameters, press the "Open Trade" button to initiate your Nickel trade. It's important to monitor your position closely to track market movements and determine the success of your investment.

Executing eToro Nickel trade order
Executing eToro Nickel trade order

 

Some Useful Tips from My Experience

  • Stay Curious: Dive deep into Nickel's intricacies.
  • Manage Risks: I learned to never put all eggs in one basket.
  • Engage: eToro's community is gold. Engage, converse, and learn.

My own account of trading this commodity on eToro has been filled with challenges, learnings, and exhilaration. As I reflect on my experiences, I urge you to dive in, but with diligence and constant learning. Start with a demo, feel the waters, and when you're ready, the world of Nickel trading awaits.

 

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.

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 Nick Zelver About Nick Zelver

Nick is the Senior Content Editor at Wikitoro.org with over 15 years in online marketing. A graduate of Toronto Metropolitan University, he has strategized for More Sales Inc. and led online sales at GlassesUSA.com. His journey through digital marketing, e-commerce, and account management has equipped him with a unique perspective. Every article he pens is infused with his real-world experiences, aiming to guide and inform readers.

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76% of retail investor accounts lose money