eToro Launches New CopyTrader Feature For US-Based Crypto Traders
The popular social trading platform eToro has recently launched a new feature called CopyTrader, which can be used by the U. S. clients of the company. The new feature is set to allow the users to automatically copy all the trades from the top traders on the platform.
By using this platform, people can copy the moves of famous traders such as Rhythm Trader or Nicholas Merten of DataDash, which are some of the top traders in the U. S. markets of eToro.
According to the social trading platform’s managing director, Guy Hirsch, one of the main ideas of the new product is to help people who want to built their wealth in a simple way and to use investors with a proven track record as guides.
During an interview with The Block, Guy Hirsch, U.S. managing director of eToro said,
“CopyTrader can help anyone to build their wealth in a simple and transparent way. Users who want to leverage the crypto asset class can now simply look for an investor with a proven track record and just hit copy to execute the same trades automatically,”
The service was originally announced a few months ago by the CEO Yoni Assia. The actor Alec Baldwin was hired for the ads to promote the new offering, in a bid to attract new investors to the platform.
Recently, eToro also launched CopyPortfolios, a feature that worked in a slightly different way. This one would be used as model portfolios that aggregate several different assets into the same one using a certain predetermined market strategy, which could focus on a single segment or not.