eToro Review – eToro Forex Broker Review
| Leverage | 400:1 |
| Minimum Deposit | $50 |
| Minimum Lot Size | 1000 |
| Broker Type | Market Maker |
| Deposit methods | Bank WIRE, Credit Card, Neteller, Moneybookers, Western Union, Paypal |
| Spread | Minimum 2 Pips |
| Regulation | Cysec, Cyprus |
| Trading Platform | Desktop, Mobile, Openbook |
eToro is a foreign currency exchange platform designed to be user friendly and helpful to beginner traders that have no prior experience in forex trading. Once users open an account with eToro and downloads the trading software, traders at eToro can practice forex trading before performing an actual trade or deposit funds for real money trading.
eToro traders receive access to electronic content with real time information about the exchange rate of currencies and the platform’s tools for executing transactions in the internet forex market. A new account at eToro can be funded with a minimum of $50, and there are many special promotions and bonuses for new accounts.
eToro offers variety of ways to fund a live trading account such as an immediate deposit by credit card, PayPal, Neteller, wire transfer, Western Union and MoneyGram etc.
eToro brokers also have access to economic info, market analysis, charts, live trader forums and technical analysis. eToro also offers weekly practice trading chamionships among members with cash prizes for the winners. eToro Forex Broker has plenty of options that are available which can help you, regardless if you are new to trading or if you have been doing it for quite some time.
eToro Forex Trading Platform
The main advantage eToro has over other trading platforms is that it is very easy to use and simple to understand. It may not have all the functionality of some professional platforms, such as conditional order types, automated trading etc. or access to exotic currencies and other instruments, but it is a solid entry-level forex platform. Over and above currencies, eToro also allows traders to take part in the commodity market by trading Gold (XAU/USD) and Silver (XAG/USD). It should also be noted that eToro is a swap-free broker. This means it does not apply negative or positive interest on any overnight positions, making it suitable for Islamic traders.
eToro Copytrader: eToro’s revolutionary CopyTrader will allow forex traders at eToro to not only see how others trade but also gives the traders the chance to follow the best traders automatically. This is made possible by eToro’s OpenBook, which is an investment network where traders at eToro can opt to display their trades publicly.
By utilizing eToro’s Openbook in conjunction with CopyTrader, this powerful feature allows traders to identify the most successful trades from within the eToro trader network and copy the trades with a simple click of a button. Somewhat identical to mirror trading.
eToro Customer Support
eToro offers customer service line’s 24 hours operation and support is offered in English, German, Arabic, Russian, Chinese, Spanish, French, and Italian. Support tools for traders include online chat, guided tutorials, a glossary, trading e-guide and live training over the phone.
Managing deposits and withdrawals at eToro
The minimum deposit at eToro starts from $50 but you also have the opportunity to get up to $500 in bonus money so make sure that you look for this option whenever you first open your account. If you want to have your money credited immediately, you must use PayPal, a major credit card or NeTeller. You can also find your account with a wire transfer, Western Union or money gram but that money will not be available in your account until it is approved by the processor.
Why choose eToro
Multiple ways to deposit. Excellent customer support. Good trading community aptly entitled, OpenBook. A beginner friendly forex broker, eToro’s CopyTrader allows traders to monitor successful forex traders from the eToro trading community and automatically execute their trades in an automated mode.
