IMPORTANT – Read this independent review of eToro!

 

There are many forex traders that think of Forex trading an ‘independent sport’, however eToro is one such broker that is seriously looking at changing this stereotype.

EToro offers a user friendly trading experience. EToro’s OpenBook platform allows users of the system to watch the trades of other EToro users and to share their own trading experiences, which is the way things are heading in the era of Social Networking. Forex traders in the USA should check out our eToro for more information.

General Information

  • EToro was founded in 2007
  • EToro’s headquarters are based in the British Virgin Islands
  • Maximum Leverage = 1:400
  • Minimum Deposit = $50
  • Minimum Deal Size = 1000
  • Languages are available in English, German, Arabic, Russian, Chinese, Spanish, Japanese, French and Italian

 

E Toro’s Trading Platform

EToro offers two modes – A Visual Mode designed for beginners and an Expert Mode for traders with more experience.

All of E Toro’s platforms offer support for trading currencies and commodities, which include bid and ask prices, an active trade window with a reading of available and unrealised margin as well as a toggle between a paper account and one which trades real money, and a one-click execution button.

One quite interesting feature is called the Traders’ Insight window on the trading platform This window shows what percentage of live eToro traders are holding long or short open positions in various currency pairs.

Features

EToro offer a host of features that somewhat set it apart from many of the other top Forex brokers.

The most basic trading account is called the Bronze Account.  This is catered to FX Traders you deposit less than $1000.  The Bronze account boasts the following benefits:

  • Enrollment in eToro’s Trading Challenge which has $1,500 weekly prizes
  • Free entrance to the real traders’ chat room
  • Pop up notifications of anticipated figures for financial announcements
  • Receipt of eToro’s weekly newsletter

 

Ease of Use

EToro’s platforms have an uncluttered, intuitive design.The OpenBook platform is similarly very easy to use, which has country flags indicating where where other traders are located and an simple interface which welcomes new users instead of overwhelming them.

Conclusion

EToro is suitable mainly for new traders who need an easy to use platform. Equally, The EToro platform boasts a huge range of features which leaves some of the more established companies behind.  If you are looking at getting in to Forex Trading, Etoro is a great way to get started.