eToro Review

Overview

eToro provides a platform for social trading and investment, which allows users to monitor the activity of financial transactions of other users and copy their actions.

Past performance is not an indication of future results. Cryptocurrencies are a highly volatile investment product. Your capital is at risk.

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Details

BrokereToro
Website URLwww.etoro.com
Founded2006
Headquarters24th floor, One Canada Square, Canary Wharf E14 5AB, London, United Kingdom
Support NumberFax: +44-866-350-0881
Support TypesChat, phone, contact form, email
Minimum 1st Deposit50$
Leverage1:100
Spreadfrom 0.18 points
Free Demo Account No
Deposit MethodsCredit card, PayPal, Skrill (Moneybookers), Webmoney, Neteller, bank transfer
Withdrawal MethodsCredit card, PayPal, Skrill (Moneybookers), Webmoney, Neteller, bank transfer
Types of AssetsCurrency, metals, shares, indexes, CFD, crypto currency (Bitcoin, Dash, Ethereum, Litecoin, NEO, Ripple, etc.)
US Traders Allowed No
Overall Score9.1/10

Full Review


eToro is a relatively new but fast-growing broker company with more than 5 million traders in 140 countries. Unlike the vast majority of brokers, eToro aims to captivate its clients with the trading process, while training and preparing them for the difficult and stressful atmosphere of currency trading. Nervousness and anxiety are familiar things to a beginner in Forex trading, as the vast majority of new traders still have little knowledge, understanding, and experience of the dynamics of this huge market. All of the different types of analysis, news flow, charts and indicators – all of this can be very complicated and frightening for beginners. eToro aims to tackle all these issues by using a friendly platform and innovative attitude toward trading.

 

Security

The company that owns eToro, Tradonomi LLC, is registered in CFTC and is a member of NFA. In addition to compliance with regulatory requirements concerning capital and the various rules aimed at ensuring a fair and honest trading environment, eToro implements a standard technology called Secure Socket Layer (SSL) for data encryption. In accordance with the company’s privacy policy, it is clear that client data about credit history, net asset value or other personal information is never transferred to third parties.

 

Types of accounts

Social trading, in contrast to traditional or conventional financial trading, uses the technologies and techniques of social media platforms, such as crowd-sourcing and content that comes from users in a market trading platform. Just as the power and popularity of social media platforms can be based on the content generated by user – posts, articles, videos and galleries, which are associated with social media you can find on a virtual wall – a social trading platform operates on the same principles.

The eToro platform is a transparent social trading platform that allows users to follow and emulate others in their trading activities without posing risks to their own portfolio. This also means that you can stay up-to-date on news of any kind on the social media platform, with comments, tips, opinions, and facts from respected experts. Through the social trading platform, you can also track and copy successful traders in an open and clear manner.

 

EToro – investment social media

eToro’s philosophy is to encourage everyone to participate in social trade – and this inclusiveness extends to the WYSIWYG interface; you can easily set up your account and start trading. There are also a variety of ways in which the platform attracts you – whether you have conducted any transactions or you are just still viewing the information and selecting the necessary currency pairs to trade.

People in eToro appreciate the experience of ultimate users. When it comes to trading in the market, it’s traditionally boring and bone-dry, but with the help of mobile apps and an online platform that takes you to the market and into the world of the online trading community with almost three million users, eToro turns trading into a pleasure so that even direct competitors try to emulate it.

 

Account deposits

eToro accepts deposits via Paypal, MoneyGram, Neteller, and WebMoney, in addition to credit card deposits and bank transfers. Depending on the selected funding channel, the initial minimum deposit requirement could be either $200 or $500. For cash-out, the customer should complete and submit an online application. eToro’s website offers extensive guidance on the cash-in and cash-out processes.

 

Trading platform

So far, being the most unique and innovative trading platform in the modern Forex market, the eToro program allows you to consider gambling an experience for the trader (truth about Forex).

The eToro brand is an excellent introduction to the concept of social trading – for both beginners and experts. Anyone can see the direction in which most traders work. All details are located on the interface, which clearly shows what is now relevant and where the majority is moving. You just choose what to trade; sign a contract, usually for one minute of trading; and wait for the result. You can make more than one transaction at the same time.

More interesting features of eToro include mobile apps and stock trading. Mobile Apps, such as the eTrader, are incredibly easy to make trades with when you are on the go and outside your office. Unlike other social trading platforms, eToro also has advanced functionality when it comes to investing and stock shares trading.

 

Beginners’ support

Besides a demo account, eToro offers numerous reference books, tutorials and a trading forum where traders can share their successes and discuss experiences gained in the process. The support staff is very professional and attentive.

Since the company is focused on the retail segment of currency trading, traders of all levels and experience can ask questions and get help from a well-trained support team.

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Conclusion

Of course, eToro is not a typical Forex broker, and the eToro platform is not the usual trading platform. It is difficult to overestimate the changes caused in the trading brokers’ industry by the introduction of the funny and simple eToro platform. Low trading leverage parameters, very small deposit requirements – these guarantee beginners an extremely convenient experience with this broker. Not only is the platform easy to use and easy to get used to, but it also implements various unique features that introduce you to a whole new world with elements of excitement and fun for trading. In addition, eToro rewards its most successful clients – you can earn profit with your own account, as well as have the winning bid and gain prizes offered by the company.

As a member of NFA, eToro USA is regulated by CFTC and its clients can be assured of reliability when it comes to account security. Competitions, an entertaining platform and a humorous approach to life and trading – all of this distinguishes eToro from its competitors. For those who would like to ride a bull and tame a bear in the Forex market, eToro is the perfect choice.

Past performance is not an indication of future results. Cryptocurrencies are a highly volatile investment product. Your capital is at risk.

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