- Online Since 2006
- Min. Deposit $200
- Spread 3 Pips
- eToro Platform
- Regulation: FCA UK, CySec, NFA
- Payment options : Credit card, PayPal, Neteller, Moneybooker, bank wire, money gram
|Trading Platform||Etoro & Web Based Platform|
|Minimum 1st Deposit||$200|
|Spread||From 3 Pips|
|Free Demo Account|
|Regulation||NFA, FCA, CySec|
|Deposit Methods||Credit card , PayPal , Neteller , Skrill Moneybooker , bank wire , money gram|
|Withdrawal Methods||Credit card , PayPal , Neteller , Skrill Moneybooker , bank wire , money gram|
|US Traders Allowed|
Why Must Trade in Etoro Forex Broker ?
- Online Since 2006
- Spread From 3 Pips
- Leverage Up to 1:400
- Etoro Platform & Web Based
- Regulation: NFA, FCA, CySec
- Free Swap for Islamic Account
- Payment options : Credit card, PayPal, Neteller, Skrill Moneybooker, bank wire, money gram
Review of eToro
eToro can trace its origin back to Israel where it was founded in 2006 to pioneer in the social copy trading. After launching the first product, eToro has grown rapidly to serve more than 4.5 million users from over 170 countries worldwide. In other words, this is a financial-trading technology developer that continually evolves into being among the largest social networks across the world.
This innovative platform is regulated in the United Kingdom and Cyprus under the MiFID with its passports all over Europe. But it has maintained a dormant entity in the US under the regulation of National Futures Association (NFA). As recent as 2017, eToro has undergone some transitioning to incorporate its Copy Trader and Web Trader products into brand new eToro platform for mobile and web.
eToro provides Copy Funds (structured portfolios) that use baskets of the user-driven strategies. In addition to that, it provides the Top Trader module that is able to automatically copy the most successful traders. As such, eToro almost doubled the total number of the Contract For Differences (CFDs) it provides, making the total number to become 1,096 including the on popular cryptocurrencies like Bitcoin Cash, Bitcoin, Ethereum Classic, Ethereum, Dash, Litecoin and Ripple.
The Trust Score
When it comes to trading with forex brokers, trust is the most important element to success. Sadly forex fraud has become a reality and scams are a common thing in the industry. One of trusted forex brokers for online trading is eToro.
eToro clients can benefit more from the following different investment products:
- They will be required to have a minimum deposit of about $200 which is the minimum amount of money to participate in a live trading account
- Currency pairs or total forex
- Exchange-traded securities(US)
- Exchange-traded securities (International)
- Cryptocurrency trade as Contract For Differences(CFD)
- Cryptocurrency traded as actual which means it offers the ability to buy the actual cryptocurrency
Commission and fees
As a market-maker broker, eToro lists a minimum fixed spread of 3 pips on either EUR or USD. In reality, this is on the higher end of the range where brokers with fixed or floating spreads are compared, making the platform more expensive.
When compared to eToro, other similar platforms are known to charge separate fees (stand-alone) or commissions like ZuluTrade, MetaQuote’s signal market on the MT4/MTR or Tradency.
On the other hand, eToro can offer a premium account to high volume traders depositing over $20,000. The premium account is beneficial to such traders for the simple fact that it provides additional perks like withdrawal priority as well as access to the online trading room with VIP style account benefits. On top of that, it provides a popular trader program to reduce spreads even further for those who meet the minimum strict performance criteria.
Platforms and tools
The current eToro platform is already web-based providing a richer experience after transitioning from its older Webtrader platform in 2017. Starting from the watchlists, it was much easier to perform basic operations and doing things faster such as creating a number of watchlists in addition to instruments from the available markets and placing a trade (for each watchlist) directly.
Another feature in this regard was the ability to move around some items from the watchlist and eventually change the view. Although the list actually dynamic, it has been incorporated into the platform. Also, it serves as the starting point to open a chat window or set an alarm. For instance, you can easily add customer service to the watchlist and this is a clever approach to the innovation for the watchlist functionality.
Another innovative tool, however, is the CopyFunds where the eToro does every task for you. It works by placing the top traders in groups of single funds that they can easily copy trade. As a matter of fact, CopyFunds comes out as the best alternative solution for those clients who might find it hard to make their decisions on who to copy trade.
eToro stands out to be the best option for retail traders looking to crowdsource their investment ideas through copy trading. Alternatively, this platform can work well for the highly experienced traders looking forward to getting rewarded for sharing ideas with others.Visit Broker