How Can I Trade EURUSD on eToro?

Written by Mike Druttman

Fact checked by Wikitoro Team

Updated Mar, 2024

To trade EURUSD on eToro, first login or create an eToro account. Then, search for "EURUSD" in the search bar, select the EURUSD result under the Markets category, and click the "Trade" button. Depending on your market outlook, choose either "BUY" or "SELL". Input the amount or number of units you wish to trade, set your stop-loss, leverage, and take-profit preferences, and then click "Open Trade".

Insight

Trading the EURUSD currency pair, one of the most liquid and popular forex pairs, can be both exhilarating and profitable for those who understand the dynamics between the Euro and the US Dollar. eToro offers an efficient platform for individuals looking to delve into forex trading. With this guide, I aim to simplify the steps for eToro EURUSD trading .

Step 1: Login to eToro or sign-up if you still don't have an account.

For those new to eToro, begin by setting up an account on their platform. Visit their website or mobile app to register. For existing users, simply log in to your account.

Step 2: Enter "EURUSD" on the search bar, locate the EURUSD result under the Markets category, and hit the associated "Trade" button.

Upon accessing your account, utilize the search bar and input "EURUSD". From the results, identify EURUSD listed under the Markets category. Once located, tap the "Trade" button next to it.

Step 3: Choose "BUY" or "SELL" depending on how you wish to trade.

Based on your market analysis and predictions, select either "BUY" if you anticipate the EUR to appreciate against the USD or "SELL" if you expect it to depreciate.

Step 4: Enter an amount or the number of units you wish to trade.

Specify the amount you're keen to invest or the number of currency units you'd like to trade.

Step 5: Set the stop loss, leverage, and take profit parameters.

Configure your trading settings, including setting a eToro stop loss to limit potential losses, choosing your leverage ratio, and determining your take-profit point. If you're unsure about these settings, consider deepening your research or consulting a financial expert.

Step 6: Click "Open Trade".

With everything in place, hit the "Open Trade" button. Congratulations! You've initiated an eToro forex trade on the EURUSD pair.

Summing It Up

eToro's platform is designed with both beginners and seasoned traders in mind, offering a smooth and user-friendly experience. So, if you're contemplating trading the EURUSD pair, eToro is an excellent place to start. Best of luck in your trading endeavors!

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. 51% 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.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

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