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Wikitoro author Mike Druttman Written by Mike Druttman
Wikitoro fact checker Wikitoro Team Fact checked by Wikitoro Team
Updated Feb, 2024

To engage in GBPUSD trading on eToro, initiate by logging in or establishing an eToro account. Subsequently, utilize the search bar to find "GBPUSD", choose the GBPUSD option from the Markets section, and tap the "Trade" icon. Based on your market perspective, opt for "BUY" or "SELL". Specify your desired investment sum or the number of currency units you're targeting. Configure your stop-loss, leverage, and take-profit metrics, followed by a click on the "Open Trade" button.

Trade GBPRUSD!

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.

 

Prelude

The GBPUSD pair, colloquially termed as "Cable", embodies the strength and relationship between the British Pound and the US Dollar. As a prime forex pair with significant trading volume, understanding its nuances is vital for a profitable experience. eToro simplifies this trading journey with its robust platform. Here, I delineate the steps to navigate eToro GBPUSD trading so you can get started on this currency pair.

 

Step 1: Login or open an account on eToro if you're still not registered. 

For novices, eToro's registration is a breeze. Navigate to their digital portal or app to commence the process. Regulars can swiftly access their account by logging in.

 

Step 2: Key in "GBPUSD" in the search bar, identify the GBPUSD listing under the Markets section, and press the adjacent "Trade" button.

Post-login, employ the search functionality and introduce "GBPUSD". Out of the generated results, pinpoint GBPUSD under the Markets header. Then, press the adjacent "Trade" icon.

 

Step 3: Opt for "BUY" or "SELL" based on your trading intuition.

Depending on your market appraisal, go with "BUY" if predicting a Pound surge against the Dollar, or "SELL" if foreseeing a decline.

eToro GBPUSD trading page
eToro GBPUSD trading page

Step 4: Indicate the capital or the currency units you're keen on trading.

Pen down your investment magnitude or decide on the specific currency units for the trade.

Entering eToro GBPUSD trade amount
Entering eToro GBPUSD trade amount

Step 5: Shape your trading metrics: stop loss, leverage, and desired profit point.

Tweak your eToro forex trading parameters: anchor a stop loss to shield against hefty downturns, decide on the leverage magnitude, and earmark a profit realization point. If these elements appear intricate, delve deeper with research or solicit insights from trading aficionados.

Setting GBPUSD stop loss, leverage and take profit
Setting GBPUSD stop loss, leverage and take profit

Step 6: Hit the "Open Trade" button.

With all parameters set, activate the "Open Trade" command. You're now in the trading arena of the GBPUSD on eToro!

Executing eToro GBPUSD trade
Executing eToro GBPUSD trade

 

Closing Remarks

With eToro's ergonomic design, trading the GBPUSD is streamlined and efficient, catering to both neophytes and trading veterans. If GBPUSD trading aligns with your financial blueprint, eToro serves as an adept conduit. Here's to successful trades ahead!

 

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 Mike Druttman About Mike Druttman

Mike Druttman, Head of Content at Wikitoro.org, has decades of expertise in marketing communications and business matching. Educated at the CAM Foundation and the Chartered Institute of Marketing, Mike has collaborated with businesses from the UK to Japan. He founded KEYZUNA, bridging Japanese businesses with global innovations. With a diverse background spanning high-tech to hospitality, Mike's articles at Wikitoro reflect his vast knowledge and unique perspective.

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76% of retail investor accounts lose money