CryptoManie

eToro is one of the leading social trading platforms. Social trading is a process for Forex traders who trade online to collect data from other retail traders and use their combined experience and knowledge to trade with their own account. Traders can connect with other traders, discuss trading strategies, and use eToro's patented CopyTrade technology to automatically copy the performance of their trading portfolio.

 

 

Accounts

 

eToro has just raised the minimum deposit required for its account to $200 in Arab regions. It remains at $100 or up to 40% of realized capital (up to $50,000) in all other regions.

Anyone depositing $20,000 or more becomes a Premium Member and receives special benefits like a personal account manager, personal Payoneer credit card, direct access to eToro's trading floor, and fast withdrawals. Spreads are variable from 2 pips minimum (high in the industry) and maximum leverage is 400:1.

 

There is no additional cost for copying a trader. Spreads remain the same whether a trader copies someone or trades manually on their own.

 

I'm glad to see that a practice account is available, but this option is only listed in the "Ask a question" section, which is a shame, as newbie traders may miss this opportunity if they don't read all FAQ information.

 

As a demo account user, traders have access to eToro's social trading platform. However, trading activity and profiles are only displayed for traders with a real account.

Features

 

Social media has grown exponentially in the investment industry. eToro has pioneered social trading for years and recently launched its new eToro trading platform. eToro encourages its customers to connect with each other to trade, invest, learn and share knowledge on the network, and the top traders are listed on the homepage along with their follower count, earnings coefficient and the percentage of their earnings. The CopyTrader program offers traders the opportunity to work in groups by copying the best traders on the eToro trading network, quickly and easily. With the Copy Trading Wallet, trades are copied to the trader's account automatically, allowing traders to manage their copied trades easily and seamlessly.

 

Clients' Personal Investment Program can build and monetize their investment portfolio with accumulated transactions, earning attractive monthly income, as well as profits.

eToro traders can benefit from personal portfolios, watchlists, news (similar to the Facebook wall), trading history, statistics, risk levels and they can use one-click trading on all screens.

 

They can also choose to search by entering specific profile elements, such as location, return percentage, or trade duration.

 

The choice of investments on eToro is large and includes a whole range of stocks in the financial markets, precious metals such as gold and commodities such as crude oil. The most successful investors lead by example, and traders can copy their methods. In addition to its long list of trading products, eToro now offers US, Spanish and Italian stocks, as well as Russian and Chinese ETFs and ADRs.

 

eToro added Bitcoin to its list of trading choices in January 2014. However, unlike most other Bitcoin brokers, eToro marks Bitcoin as a stock on its platform rather than a currency. The platform trades Bitcoins on a CFD basis, which means users buy and sell financial derivatives that track the price of BTC without actually owning the underlying asset.

 

The eToro site also recently launched a new platform by taking their old WebTrader and OpenBook platforms and redesigning them to fit all devices. Its responsive HTML5 web application is fully optimized and works on any mobile device.

Full features of their mobile app are available on their website and it is accessible on mobile devices. However, it has not been updated to offer the CopyTrader feature to everyone at this time, so currently it is advisable to use the website on mobile devices rather than the app. .

 

 

Deposits/Withdrawals

 

Deposits can be made to an eToro account by bank transfer, credit cards, PayPal, Skrill, Neteller, WebMoney and MoneyBookers.

 

Withdrawals are made by going to the “caisses” section, clicking on withdrawal and then completing the electronic withdrawal form.

 

 

Specials

 

Due to regulatory restrictions, eToro does not offer typical deposit bonuses. However, traders can take advantage of additional promotions by subscribing to a popular investor, who can then get a 100% spread refund and 2% management fee. If you trade regularly, we strongly recommend that you study this offer.

 

 

Education

 

eToro's Education Center offers several tools to improve trading success, including webinars, training courses, and a host of videos. It offers a selection of trading guides, starting with the basics of trading and how to deposit and withdraw money from an existing account.

 

Traders can join a live webinar and learn more about eToro's platform with help from eToro's online trading experts. Traders can get trading advice from financial experts in the field.

 

eToro's exclusive online finance courses help traders master financial trading at their own pace. These interactive online courses are suitable for both newcomers and experienced traders.

 

The new screen of the WebTrader platform shows what is currently happening in the world of Forex. News articles are updated live by eToro's  team of market analysts.

 

The eToro site also offers a blog in several languages. 

 

 

Customer Support

 

Traders can communicate with an eToro customer support representative by phone or live chat 24/5. Phone support is toll-free for local numbers in the UK, Cyprus and New Zealand and questions can be emailed for a quick response.

 

eToro has offices in multiple locations around the world, allowing the site to handle its customer base speaking a multitude of different languages.

Conclusion

 

eToro is definitely one of the best choices for anyone looking for greater interaction with other currency traders and interested in learning about other traders' investment techniques. The OpenBook platform provides a good testing ground for beginners and the choice of accounts in different locations is welcome. Experienced traders looking for small spreads, however, may not appreciate the two pip minimum offered by eToro. 

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Features

 

There is no doubt that eToro's primary focus is social trading and the features offered to facilitate this opportunity set eToro above most other Forex and CFD brokers. In addition to the list of top traders appearing on the site's home page, eToro traders can customize their search for traders to copy by using their CopyTrader program and entering specific profile information. This is quite unique in the industry and helps traders to have more confidence in their choice of traders to follow.

 

 

Company Information