For those who have just become interested in the capital market and especially digital currency and intend to invest in it, hearing words like “exchange” and “brokerage” can be a bit confusing. Do these two have the same meaning? From which of these companies can you get digital currency? These are the questions that you may have come across during your time exploring the world of cryptocurrency.
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Ituro is actually an online brokerage through which you can buy cryptocurrencies and other assets. Probably, after reading this sentence, you will say to yourself that this work can be done through digital currency exchanges; So why is ituro known as a broker? In this article we will answer this question. In addition, we also mention its interesting and unique features and finally explain how to become a member and work in it.
What is Ituro?
EToro is a social trading and brokerage company that supports several types of assets, such as digital currency, government currencies such as the dollar, exchange-traded funds (ETF), etc.
But before we talk more about this, let’s understand the difference between an exchange and a brokerage in the field of digital currencies. “Broker” is an organization that determines the price and fee for buying and selling digital currency. These organizations either keep the required capital themselves or cooperate with other brokerages connected to the network. Brokers usually keep their prices close to their peers to maintain demand for their services.
On the other hand, we have “exchanges” in which buyers and sellers are users themselves and set the prices themselves. Any buyer can request to buy digital currency at any price he wants, but he has to wait for a seller to agree to his proposed price. The average price of digital currency in such exchanges depends on the price agreed upon in the last transaction between the seller and the buyer.
Another point that we need to understand in order to get to know the Ituro website is the concept of social trading or “Social Trading”. When we say that eToro is a social trading website, it means that with the help of this site you can observe the activities of other users and trading experts and simulate their trading strategies and decisions with the help of services such as (Copy Trading). We will explain more about this in the next sections.
As we mentioned, the main difference between Ituro and other digital currency exchanges and brokers is that in Ituro, in addition to the possibility of buying and selling all kinds of cryptocurrencies, it is also possible to trade other financial assets such as dollars and stocks.