How Can I Invest in Palladium on eToro?

Written by Mike Druttman

Reviewed by Nadav Zelver

To trade Palladium on eToro, begin by logging in or registering for an account. Navigate to the "Discover" area, select "Commodities", and pick "Palladium". Opt for "BUY" or "SELL", fill in your desired trade amount or units, adjust the trade settings, and then select "Open Trade".

Discovering Palladium's Potential

When I first stumbled upon the shimmering allure of palladium, I was taken aback. As I dug deeper, I learned about its vital role in the automotive industry, electronics, and jewelry. Its scarcity juxtaposed with its demand piqued my interest, nudging me to consider it as an investment avenue.

Historically, palladium's prices have shown a promising trajectory. But it wasn't just the numbers; the global increase in urbanization and its evergreen demand in the automotive sector convinced me of its potential. I believed it was a golden opportunity to diversify my assets.

I want to share my insights into trading Palladium using the eToro app, a method that's also relevant for the web-based platform. Notably, trading Palladium here involves CFDs (Contract for Difference), a user-friendly and cost-effective way to engage in commodity trading. A Palladium CFD, unlike direct stock trading, tracks the price movements of Palladium but doesn't entail actual ownership of the metal.

Palladium Trading Steps in Detail

These are the basic steps to start investing in this commodity via eToro's platform:

1. Setting Up or Login to Your eToro Account: Begin by ensuring your trading account is verified and funded. My experience with the signup process was smooth and hassle-free. I strongly suggest using a strong password or regularly changing it for the security of your account.
2. Find Palladium on the Platform: To find this commodity asset, use the platform's search feature at the top of the user interface. Simply type "Palladium," and it should be prominently displayed in the search results. Alternatively, you can navigate to "Discover," then "Commodities," and select "Palladium."
3. Choose Between Buy or Sell: This crucial step involves deciding your trading position. Choose 'Buy' if you expect an increase in Palladium prices, or 'Sell' if you foresee a decrease. The decision is yours. 
   

   

4. Set Your Investment Preferences: The minimum investment for Palladium and other commodities is $1,000. Using leverage can increase market exposure, but it's important to proceed with caution as it magnifies both potential gains and losses. The maximum leverage available varies depending on the entity managing your account, typically ranging from x10 to x100. For beginners, it's advisable to start with lower leverage. Also, consider setting Stop Loss and Take Profit limits as part of your risk management strategy. 
   

   

5. Execute Your Trade Order: Once you've set your trade parameters, press the "Open Trade" button to start your Palladium trade. Monitoring your position is essential to track market trends and assess the success of your investment.
   

   

Parting Thoughts and Tips

If you're considering venturing into eToro palladium investment, my journey might resonate with you. Remember, knowledge is power. Stay updated, engage with their community, and never shy away from seeking advice.

Note: Everyone's investment journey is unique. While my experience was positive, it's essential to do your research and possibly seek professional advice before diving into any investment.