eToro Review
eToro’s foreign currency exchange platform was designed to be user-friendly and helpful to beginning traders, and assumes that new users have no experience in forex trading. However, the tools are robust enough to be used by professional traders and has been built to trade in all major currencies in the international market.
Based in Cyprus, the eToro company is led by a group of finance professionals, software developers, and marketing experts. eToro’s platform is a Webtrader (non-downloadable platform) that offers both a practice area and an actual, live trading arena. Besides forex, eToro also allows trading in Gold & Silver, Oil & CFDs.
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Once a trader registers for eToro, the trading area is displayed as a simple, visual set of tools that allows the user to concentrate on strategy rather than the mechanics of forex trading. A user can spend unlimited time in practice before performing an actual trade. There are a variety of ways to fund a live trading account – an immediate deposit by credit card, PayPal, or Neteller, or payment methods such as wire transfer, Western Union, or MoneyGram that take a few days to fund. A new account can be funded with a minimum of $50, and there are many special promotions and bonuses for new accounts.
There are no account levels; all traders have access to the same tading levels. Traders receive access to electronic content, real time information about the exchange rate of currencies, and the platform’s tools for executing transactions in the internet foreign exchange market. eToro also offers weekly practice trading chamionships among members, with cash prizes for the winners.
Support tools for traders include online chat, guided tutorials, a glossary, trading e-guide, live training over the phone. Accountholders also have access to economic info, market analysis, charts, live trader forums, and technical analysis. The customer service line is a 24-hour operation and support is offered in English, German, Arabic, Russian, Chinese, Spanish, French, and Italian. eToro offers Islamic account terms.
eToro has just launched the Social trading network eToro openbook – including the groundbreaking CopyTrader feature. It is a one of a kind social trading network that transforms the way people trade and invest online. From now on any trader can See, Follow and Copy the trading strategy of the most successful eToro traders. This feature is unique to eToro and not available with any other forex broker. ( You can find more explanation on how eToro CopyTrader works here)
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## eToro Bonus:
All users who have a VIP Account of $20000 or more may receive deposit bonuses of 5%.
## FEEDBACK & OVERVIEW
Actual Customer Reviews and Complaints for eToro:
| “I have been trading forex on etoro for about 2 months now and it is an amazing platform. This tool is meant for people who want to get into forex. I started with practice account and only after a long time started to trade with real money.” portion of user review on Techcrunch.com” …Good for beginners. It is in the form of a forex game. It puts the fun back into trading.” portion of user review on ForexPeaceArmy.com “…Also, it works unceasingly, and it runs expeditiously fast. This eToro is very great! Excellent. We all liked it. It’s pleasant, fast and exact…” portion of user review on forexfinder.net |
Our Reasearch on eToro:
Likes:
Simple user interface: eToro’s simple interface and user-friendly graphics make it easy for beginners to understand basic Forex concepts and begin trading.
eToro Openbook & CopyTrader : eToro Openbook & CopyTrader are revolutionary systems. Openbook can also be considered a facebook for forex traders while CopyTrader has changed the way people trade, by enabling them to build real people-based portfolio.
A variety of support tools: eToro provides tutorials, online help, and phone support to members.
eToro demo account to practice trading: Beginners can use the practice trading function and “play money” to learn Forex concepts; there is no limit to the amount of practice one can employ.
Low account minimum & Low spreads: Users can begin trading with as little as $50 in an account; there are no defined account levels with extra features. Spreads as low as 2 pips.
Dislikes:
Cartoon-like interface: The simplicity of the interface “dumbs down” forex trading and makes the process seem cartoonlike rather than reflecting the complexity of trading.
Bottom Line:
Overall, this looks like a good tool for beginners and those who wish to gain trading practice, but at same time if you are experienced trader it do offer tools and expert mode trading options.
eToro has also received a World Finance Award for the most innovative trading platform in 2010.
Ratings:
Value of Service: 5/5
Support : 5/5
User reviews : 4.5/5
Overall rating: 5/5
(Our Top Recommendation)
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## PROUCT DETAILS
| Company Info: |  13, Grigoriou Xenopoulou Str., Elegant house, Suite 103, 3101-Ayios Nicolaos, Limassol, Cyprus. |
| Product Specifications | - Webtrader (non-downloadable platform) - Real and demo championships with cash prizes - Practice and live trading arenas - Customer Service line, online chat, and expert advice - Online learning tools and training videos - Upto $1000 bonus for 1st Deposite - Support in different languages |
| Price: | No commissions; fees based on fixed spreads. |
| Min Deposite | US $50.00 |
| Min Transaction Size | US $10,000.00 |