EToro review
Brokers By Trader 2017-03-05 14:43:18
Broker Info
Company Name: eToro
Regulation: NFA, FCA, CySec
Country: USA
Year established: 2006
Broker Services
Pairs offered: over 1100
Min deposit: $200
EURUSD spread: 3 pips
Smallest lot size: 10,000
Funding methods: Credit card, PayPal, Neteller, Moneybooker, bank wire, money gramPlatform Info
Dealing desk: Yes
Trading platform: eToro Platform
Mobile trading: Yes
Web based: Yes
eToro is a relatively new but fast-growing brokerage firm with over 5,000,000 traders in over 140 Countries. Unlike the vast majority of brokers, eToro aims to entertain its clients, while educating and preparing them for the difficult and stressful atmosphere of currency trading. Nervousness and unease are common features of a beginner’s experience with forex, since the vast majority of new traders have little knowledge, understanding or experience with the dynamics of this giant market. All the various types of analysis, news flow, charts and indicators can be very confusing and intimidating for beginners. eToro aims to tackle all these issues by its friendly platform and innovative attitude to trading.
Visit eToro now and get a free demo account or start trading with a live account right away
Safety
The company owning the eToro online trading software in the United States, Tradonomi LLC, is registered with the CFTC and is a member of the NFA. Apart from compliance with the regulatory requirements on capital and the various rules aimed ensuring a fair and honest trading environment, eToro implements the industry-standard secure socket layer (SSL) technology for data encryption. The firm’s privacy policy states clearly that client data on credit history, net worth or other personal information is never shared with any person or institution.
Account Types
Social trading – as distinct from more 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 environment. Just as the power and popularity of a social media platform can be based on the user generated content – posts, articles, videos and galleries that are linked from a social media page to be found in your virtual feed or on a virtual wall – social trading platforms operate on similar principles. The eToro platform is a transparent social trading platform, enabling users to follow and emulate others in their social trading activities, without compromising their entire portfolio. It means that just as you can stay informed of news of any kind on a social media platform with commentary, advice, opinion, and facts from respected experts, you can also follow and copy successful social traders in an open and clear manner on a social trading platform.
eToro social investment network
The eToro philosophy has as one of its core aims to encourage everybody to engage in social trading – and this inclusivity extends to the WYSIWYG interface, the ease with which you can set up an account and start putting and calling on trades, and the various ways in which the platform engages you – whether you’re committed to any trades, or you’re simply browsing to see which currencies to trade.
The people at eToro appreciate that the end user experience when it comes to market trading has been traditionally boring and dry, but through mobile apps and the online platform that taps into the market and a massive online trading community of almost three million eToro users worldwide, eToro makes trading both fun and socially engaging in ways that even its direct rivals try to emulate.