eToro Review
conducted by ForexSQ experts for those traders want to open trading
account with eToro broker, In this review you will know how to open a
Free eToro demo account with eToro MT4 platform. Since
forex trading was deregulated in 1997, there have been a plethora of
new internet based forex brokers, all of which were formed to offer the
same basic kind of services to forex clients, which makes choosing a
brokerage difficult for the average financial investor. With that in mind, the
professional investors at ForexSQ.com have evaluated many trading
platforms, including eToro forex broker, and offer the following eToro
Review for the convenience of clients and visitors to the website.
eToro Review By ForexSQ
The eToro Group, Ltd was founded in 2007 and is
headquartered in Limassol, Cyprus where it is strictly overseen and
regulated by the Cyprus Securities and Exchange Commission (CySEC), as well as a number of similarly stringent regulatory agencies in other countries around the world. eToro UK is also overseen by the Financial Conduct Authority of the UK (FCA), Australian Securities and Investments Commissions (ASIC), Commodity Futures Trading Commission (CFTC), Markets in Financial Instruments Directive (MiFID) and the National Futures Association (NFA).
In 2010 eToro introduced a totally new concept of social trading to the world of forex which enables traders to easily copy successful trading strategies of more experienced traders. The "OpenBook" social investment platform was created especially for novices in forex trading and allows information sharing of trading and market news and analyses among traders. The OpenBook model allows new investors to engage in forex trading
before actually knowing much about it and allows them to learn
everything they need to know before actually formulating and placing
trades on their own.
The eToro broker provides global traders with a variety of options for investing in Contracts for Difference (CFDs) and Exchange Traded Funds (ETFs) on multiple financial assets, including U.S., Spanish and Italian stocks, as well as commodities, indices, precious metals (gold) and energy assets (oil).
In 2014 eToro added Bitcoin to its platform's list of tradeable assets but considers it a "stock" rather than a "currency," which is contrary to the way most brokers categorize Bitcoin assets. eToro offers CFDs and other derivative products on Bitcoins, which means the investor never actually owns Bitcoins but instead invests in assets that track the price (value) of Bitcoin.
eToro USA
Over the counter exchanges of foreign currencies involve a high level of risk and the possibility
of experiencing serious financial losses. The eToro broker provides
several platforms for trading a variety of assets, but does not
currently accept clients who are based in the United States.
Compatible
The eToro broker is compatible with any computer that has internet access, including personal computers running Windows or Macs, iOS and Android devices.
Trading Platforms
After the addition and great success of its OpenBook trading platform, eToro improved the functionality of its platform by providing additional trading platforms to use in trading financial assets, which are eToro WebTrader and eToro Mobile Trader.
As
previously mentioned, eToro's OpenBook platform is one of the most
popularly used social trading platforms in the world, especially by new
investors who are unfamiliar with forex trading. OpenBook's "Copy
Trader" feature allows traders to follow the successful trading of more experienced forex investors by copying their trading techniques and strategies while they endeavor to build their own knowledge of assets and markets.
eToro WebTrader
WebTrader
is a web based platform that enables trades using a variety of tools to
analyze, research and formulate trades in financial marketplaces around
the world. WebTrader can be synchronized to run alongside eToro's OpenBook feature that allows copying of successful trades of other investors
eToro Mobile Trader
All
features of the eToro trading platform's website can be accessed using a
variety of popular mobile handheld electronic devices via eToro's
Mobile Trader app. The mobile app doesn't currently include all the
features of the Copy Trader features, so investors should use the website rather than the mobile app for conducting those types of trades.
eToro MT4 Download
The MetaTrader 4 (MT4) trading platform is one of the most popularly used for trading forex assets and a lot of investors use it in
conjunction with other platforms, many of which offer the opportunity
to download the MT4 platform directly from their own websites. This is
not the case with e Toro, which developed its OpenBook proprietary platform in direct competition with the MT4 format.
So
many traders demand the MT4 option with their trading accounts that e
Toro has also begun to offer the platform, but does not advertise the
opportunity or provide a means of downloading it; instead, investors
submit MT4 requests to their trading Account Managers.
With the growth and popularity of the eToro trading platform, the firm has endeavored to keep its clients happy. Adding the MT4 option is evidence of that and the firm's mission to attract both novice and experienced traders to its trading platform by adding the prestige associated with MT4 that more advanced and active traders often demand.
Features
The
eToro forex broker is growing exponentially in the international world
of financial investments and gaining popularity because of its OpenBook feature that includes the CopyTrader option for following and copying successful trades of more experienced investors.
The eToro broker encourages sharing among its clients to connect with each other, learn and make trades using valuable shared information. The website lists its top ranked traders on its home page along with win ratios, gain percentages and number of copiers imitating trading activities. Copy Trader
allows investors to quickly and easily adopt the trading techniques of
the platform's most successful traders and those copied trades
automatically appear in the trader's account for simple and transparent account and trade management.
Its Personal Investment Program feature allows
the broker traders to build their investment portfolios with
accumulated trades in a variety of markets to supplement incomes with
trading profits.
The trading options offered by the eToro trading platform are numerous and include the following:
- One click automated trading from all screens
- Guaranteed Fill, Limit, Trailing and Stop Loss orders
- Trading from charts
- Interest on margin
- Hedging and Scalping are permitted
- Trading signals
- Expert market commentary
- Mobile and email alerts
- Streaming market news feed
- Personal investment portfolio
- Watchlists
- Trading history
- Statistics and risk levels
Account Types
The eToro forex broker's trading platform offers three types of trading accounts which are Standard, Islamic and the
eToro Demo Account, all of which include access to the full range of
assets offered by the firm with minimum account deposit requirements
and maximum leverage of 400:1.
Standard Account
The eToro Standard Account is recommended for traders who have some familiarity with the forex industry and trading financial assets and who are ready
to deposit investment funds and get started trading in live financial
asset marketplaces around the world. The minimum amount required to
open this type of account is $50, which allows access to the full range
of the e Toro broker.
Islamic Account
Traders who want to invest according to Muslim religious principles can open an Islamic Account with a minimum initial deposit of $200, which includes no trade commissions or interest on overnight positions.
eToro Demo Account
Like many forex brokers, eToro offers its clients a Demo Account with up to $100,000 of virtual money to practice trading assets in a virtual scenario before risking real money in active financial trading markets.
Demo accounts are invaluable features to both novice and seasoned
traders alike since it allows investors to familiarize themselves with
various assets and the markets in which they are traded and to research
trading strategies and practice formulating, placing and tracking trades in a risk free virtual trading environment.
eToro Fees, Commissions, Spreads and Leverage
Lets discuss about eToro Fees, As with most forex brokers, the eToro platform does not charge commissions on forex trades but charges a slightly wider spread on assets traded by clients in order to realize profits for the firm.
Typical
spreads at eToro start at 2 pips (points in percentage) for USD/JPY
currency pairs and 3 pips for USD/CAD, USD/CHF, USD/RUB and EUR/USD
pairs. Currency pairs that are less commonly traded have spreads as high as 14 pips and Bitcoin transactions include 1 pip spreads.
Maximum leverage provided by the eToro forex broker is 400:1.
Deposits and Withdrawals
Investors can deposit funds into eToro forex trading accounts using a variety of methods that include credit cards, PayPal, Neteller, WebMoney, MoneyGram, Western Union and electronic fund wire transfers (EFTs). eToro doesn't charge fees for deposits, but bank and/or other fees may apply depending on the method used for depositing funds.
Withdrawals
will only be processed after having verified a trader's identity using
strict international guidelines to protect against money laundering,
identity theft and other financial crimes. After verification, minimum withdrawals of $20 are transacted within five
(5) days after the request is received. Withdrawal fees are charged by e
Toro and vary depending on the amount of the withdrawal between $5 and
$25 per transaction.
eToro Bonus
The
eToro broker offers varying incentives in the form of promotions and
bonuses that have in the past included a refer-a-friend bonus of $100
per new account referral up to a maximum of $1000. Each new referral
receives a bonus $200 deposit after opening a trading account.
After a trader gets the first and fifth copier of his or her trades, he
or she becomes a leader in the social investment network community and
receives up to 50% in e-Toro credits, depending on deposit amounts. Check the platform's website for the latest promotional opportunities.
Education Center
The eToro broker includes a number of useful tools and features for enhancing forex trading. Traders have a choice of educational materials that include basic trading guides, training courses and three
interactive eCourses designed for every level of trader. Traders can
familiarize themselves with the trading platform's website using live
webinars and stay up-to-date with the latest news about assets and markets with trading tips from experts in the financial investment field. The eToro website also contains blogs on a variety of related subjects.
Risk Management
Investors
opening trading accounts with etoro can rest assured their funds are
safe and secure in top tier financial institutions, in addition to the
added security afforded by the number of different regulatory agencies
in different countries around the globe in which it conducts financial
activities.
Customer Service
The eToro forex broker offers experienced Customer Service representatives who are available 24/5 to
assist clients with any problems they may be experiencing related to
the website and trading assets. Customer services can be reached via
telephone, online live chat or email and are available in a variety of languages including English, Spanish, German, Italian, French, Portuguese, Greek, Dutch, Swedish, Finnish, Polish, Turkish, Russian, Chinese, Japanese and Arabic.
eToro Complaints
The eToro brokerage is easy to use and understand and the platform doesn't appear to receive complaints about its functionality. The complaints lodged
by customers relate to issues regarding fund withdrawals, unauthorized
credit card charges, fake "credits," sharing of personal information,
customer support services, account verification and others matters. Before
eToro Login
For login to eToro.com broker or eToro Sign In you can visit the broker website, After sign up you can check your email and do eToro login.eToro UK Review Conclusion
The eToro UK broker Review conducted by the ForexSQ expert financial advisors and investors can be combined with other online eToro reviews to assist traders in gaining as much knowledge as possible about this broker's trading platform before committing to opening an account and beginning trading in financial markets.
If you like this eToro Review conducted by www.ForexSQ.com then share it on social media networks please and let your other friends know about this eToro review page.
