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Silver trading is one of the online commodity trading options available on the eToro platform. Silver trading is very similar to currency trading, which traders are already familiar with and presents an additional profit opportunity to members of the social trading network. Unlike some other online financial trading companies, eToro provides online commodities trading with zero commissions, so you can incorporate this additional instrument into your portfolio without fearing additional charges.
Silver trading historically has been closely linked to currency trading since many civilizations and cultures used silver to mint their first coins. Thus the value of the coin would naturally reflect the price of silver. At that point in time it was be possible to trade gold or other precious metals for silver and vice versa; however, in today’s commodity market there is no option of trading gold for silver directly, and all silver trades are made against the US dollar. As global economical and monetary systems evolved, the price of silver, similarly to gold, became independent of currency, and began to be traded like all commodities according to supply and demand forces. Silver has always been a popular investment because if its profitability. Like many precious metals, the price of silver is quite stable; however, because of its relatively low value it doesn’t require as large an investment as gold for instance. At eToro you can buy and sell silver online for an investment as small as $60!
The silver trading option is available in the eToro WebTrader and eToro OpenBook (through the silver market page). To access the silver trading function in the WebTrader all you have to do is look for it in the live rates box. There you will see the rate for silver futures, and you can view an interactive chart of silver price movement by clicking on the chart button next to the rate. Having analyzed silver’s market movements all that’s left to do is choose whether to buy or sell, your desired leverage, the amount you want to trade and click on “Open Trade”. You can use silver trading as an inexpensive way of diversifying your portfolio and hedging your more volatile currency trades with this stable investment. You can also copy top silver traders by looking for silver trading Gurus via the Market Pages and the Guru Finder on eToro OpenBook.