Level 1

Beginners (Fundamentals and Basic Operations)

Objective: Understand markets, master eToro platform, and trade risk-free using a demo account.

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• Differences between long-term investing and trading.
• Interface walkthrough: Watchlist, Portfolio, Newsfeed, and Profiles.
• How to activate and use the Virtual Account (Demo) with $100,000 virtual money.

• Stocks and ETFs (Real ownership vs. CFDs).
• Cryptocurrencies, Commodities, and Forex.
• Market hours and order execution (Market vs. Limit orders).

• Basic setup for Stop Loss (SL) and Take Profit (TP).
• Leverage concept: Why beginners should always trade X1 (no leverage).

• How to select a Popular Investor to copy (Risk score, drawdown, track record).
• Understanding Smart Portfolios (Thematic portfolios).

Level 2

Intermediate / Advanced (Strategy and Advanced Tools)

Objective: Develop custom strategies, technical analysis, and complex position management.

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• Japanese Candlesticks and continuation/reversal patterns.
• Key indicators: Moving Averages (EMA/SMA), RSI, MACD, Support and Resistance.

• Using the 'Research' tab and reading corporate earnings reports.
• Interpreting macroeconomic events (Interest rates, inflation) and market sentiment.

• Responsible use of leverage (X2, X5, X10...) and margin call impacts.
• Short positions (Selling / Shorting) for bear markets.
• Cost breakdown: Spreads, overnight fees, and withdrawal fees.
• Position sizing and Risk/Reward Ratio (minimum 1:2).

• Emotional management: Cognitive biases, FOMO, and trading journal.
• Requirements to become an eToro Popular Investor and monetize your strategy.

Transversal Module

Taxation in Spain (Tax Return / IRPF)

Objective: Comply with tax obligations resulting from eToro activity.

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1. IRPF Income Classification

All gains/losses from stocks, ETFs, CFDs, Cryptos, and Forex are taxed under the Savings Base as Capital Gains and Losses.

Dividends received are taxed as Investment Income.

2. Tax Brackets (Savings Base)

Net Profit Bracket	Tax Rate
Fins a 6.000 €	19%
De 6.000 € a 50.000 €	21%
De 50.000 € a 200.000 €	23%
De 200.000 € a 300.000 €	27%
Més de 300.000 €	28%

3. Calculating profits, losses, and set-offs

• Accrual rule: Any closed trade in the fiscal year must be declared, whether withdrawn to a bank or kept in eToro.
• FIFO method (First In, First Out): For homogeneous assets, the first units bought are considered the first sold.
• Loss offsetting: Capital losses offset gains in the same year or over the next 4 years.
• 2-Month Rule: Selling at a loss and repurchasing within 2 months prevents immediate loss deduction.

4. Withholding Taxes and Double Taxation (Dividends)

US dividends incur a 15% origin withholding tax (with W-8BEN form). A double taxation deduction applies in Spain.

5. eToro Tax Reports & Informative Declarations

• Account Statement: Annual PDF/Excel report from eToro Settings/Account converted to EUR.
• Model 720 (Foreign Assets): Mandatory if your portfolio/cash abroad exceeds €50,000 on Dec 31st.
• Model 721 (Foreign Cryptos): Specific report for foreign crypto holdings exceeding €50,000.