eToro – The Best Forex Broker?
Read our eToro Forex broker review below...
...eToro is the worlds leading social trading platform that gives you the option to invest in stocks, cryptocurrencies, ETFs, currencies, commodities, and indices. It features a huge set of tools (over 1,000), a social trade service, crypto trade, greater age (over 10 years) and regulation by European watchdog bodies. It has mandatory verification and a relatively high entry threshold.
The trading platform provides an innovative interface and its features are displayed according to each trader's experience. Its wide range of features includes an easy to use user interface, instruction manuals, research tools and an online community of over 4.5 million traders.
Global regulatory licenses
Availability of training area
Ability to interact with other traders
Ability to copy other traders
Wide range of markets
Low minimum deposit limits
High fees for any cash transactions
No scalping allowed
No support MetaTrader
Limited cryptocurrency options
No phone customer service available
Spreads are higher than average
eToro is one of the earliest to offer online forex trading after it was launched in 2007. After a year it launched its web trader web-based trading platform and grew as the largest investment network offering forex trading. Because of its rapid growth, eToro implements «Responsible Trading» policy to help forex trader attained success in their trading. In 2011 amidst the growing attractions to forex trading, it launched its CopyTrader which allows the so called people-based investment portfolio exclusively for eToro traders. Even in the mobile wars, the firm was the first to initiate forex trading using Android phones, Blackberry and even to iPhones. Early in 2011, its FirstCopy.me websites was launched. Its main purpose is to give Guru Traders the space to build investment business.
Among their advantages are the following: minimum deposit from $100, and prompt withdrawal of funds. It has the Learn and Practice for free offer where a new trader’s account is credited with $1000. The eToro platform is very convenient for aspiring traders. This broker takes a few minutes to register. The personal cabinet on the eToro platform is characterized by a simple and intuitive design. It is safe to say that this company is not a banal «kitchen». The goal of the eToro broker is to provide users with the best social service for trading in financial markets. Trading using the CopyTrader service is a great opportunity to automate trading by performing transactions in one click. Instead of withdrawal of funds they can be directed to duplication of transactions of more experienced traders. In this way it is possible to significantly increase the level of profit. The official website of the broker is characterized by a simple, and at the same time intuitive interface. You can trade with eToro from any country in the world. More than 4 million users from different parts of the world have already registered in their personal office.
eToro has its own, simple and unique trading platform designed exclusively for its traders. It is simple and easy to use that even a forex beginner won’t have any difficulty learning and getting familiar with. eToro’s traders has the «See», «Follow», and «Copy» platforms where an eToro trader can easily review trading history of the best traders and allow them to copy their trader. They labeled this as the OpenBook trading platform. It also offers the Web trading platform for its online forex trading and the mobile trading platforms for mobile users.
eToro offers simple ways for beginners to get started with their forex trading. They have a fast and straight forward method of opening an account. With a trader’s account, traders can select their preferred deposit methods such credit cards and other online payment and banking methods acceptable like PayPal, Skrill, and Wire transfer, Western Union, MoneyGram, Netteler, GiroPay and WebMoney. They have prescribed the minimum and maximum deposits allowed and have the right to change the limitations when needed.
Withdrawing is done through request and filling up a withdrawal form. It only takes a matter of minutes for the withdrawal request to be processed. However for first time withdrawal there are basic requirements such as copies of the following: passport with clear signature, recent utility bill or bank statement and for credit cards, clear copy of the credit cards used in opening the account. This is submitted only for one time.
eToro is one of the largest social investment networks and has a solid base community for all of their traders. It has recently launched its El Toro’s Twitter and Facebook to allow greater possibility of getting connected with their traders. Service of those. Support is running in 24/7 mode. Go to your personal office and verify to access all service functionality. In solving this problem, you can ask for help from a consultant of the company.
The official website eToro designed with maximum safety and 100% reliability in mind. Entry is possible from any country where you have access to the Internet. You can use the company’s software on any kind of device. Note that the official website uses a secure mode of storage of client data and money. Forex trade market is unpredictable but a very profitable market and eToro’s solid years in forex trading have proven that it is not only a place for professional traders but as well as for beginners to have their fair share of the world’s most profitable market.
eToro FAQ on the broker
1 Is eToro a regulated broker?
Yes, eToro is regulated by CySEC, FCA, ASIC, AFSL in Cyprus and others.
2 What trading platforms does eToro offer?
eToro offers the full suite of Copy, Web, Mobile.
3 What is eToro maximum leverage?
Maximum leverage at eToro is 1:400.
4 What methods can I use to deposit and withdraw funds on eToro?
Deposits and withdrawals with this broker can be done using these methods: Maestro, Visa, Mastercard, Bank Transfer, Skrill, PayPal, WebMoney, Neteller, UnionPay, Yandex Money, Western Union, DinersClub, GiroPay.
5 What is the spread of the eToro broker?
The spread for this broker is on average eToro is 1 - 7 pips.
6 What’s the minimum deposit to open a Live account at eToro?
The minimum deposit to open a Live account is 100 USD.
7 What cryptocurrencies are available at eToro?
In this broker are the following cryptocurrencies for trading: BTC/USD, ETH/USD, BCH/USD, XRP/USD, DASH/USD, LTC/USD, ETC/USD, XLM/USD, EOS/USD, NEO/USD, BNB/USD.
8 In what currency can I open an account with eToro?
With this brokers you can open an account in currencies: USD, EUR, JPY, GBP, AUD, CHF.
9 What Trading Instruments are available at eToro?
On eToro, you can trade financial instruments such as: Forex, Indices, Securities, CFDs, ETFs, Raw Materials, Crypto, Stocks and Goods.