Yes, you can take profit on eToro by using its built-in “Take Profit” (TP) feature, which allows you to automatically close a trade once it reaches a specified profit level.
Take Profit (TP) is a trading tool that lets you set a specific price or profit amount at which your position will automatically close to secure your gains without the need for constant monitoring. This is particularly useful in volatile markets where prices can change rapidly.
You can also adjust the Take Profit level after opening a trade by accessing your portfolio, selecting the trade, and modifying the TP settings.
eToro also allows you to close a portion of your position to realize some profits while keeping the rest open. This can be done by selecting the trade in your portfolio and choosing the “Close” option, then specifying the amount or percentage of the position you wish to close.
I've been using the TP tool for some of my trades and after experiencing it for quite some time, these are some of the things that I suggest you consider if you're planning to take advantage of it:
- Mandatory TP: On eToro, setting a Take Profit is mandatory for all positions except for non-leveraged BUY trades.
- Execution Price: While TP orders aim to close at your specified price, in fast-moving markets, the execution price may differ slightly due to market conditions.
- Fees: There are no additional fees for using TP but standard trading fees like spreads and overnight charges may apply.
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.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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 hasbeen prepared by our partner utilizing publicly available non-entity specific information about eToro.
About Mike Druttman
