etoro broker review

eToro Forex Broker Review – 2019

  • Website: www.etoro.com
  • Founded: 2006
  • Maximum leverage: 400:1
  • Minimum deposit: $50
  • Minimum deal size: 1,000
  • Spread: 2 pips
  • Regulation: NFA, FSA BaFin
 

Payment methods: Bank wire, Credit Card, Neteller (1-pay), Skrill (Moneybookers), Western Union, Paypal, Moneygram, Webmoney, Giropay

 

 Advantages  Disadvantages
  • » Intuitive interface
  • » Valuable bonuses for regular traders
  • » Excellent platform for new traders
  • » Muslim-friendly accounts are available
  • » Free courses for the real account traders
  • » Variety of electronic payment systems for funds transfers
  • » Customer support and helpdesk is only available 5 days/week

 

eToro Background

etoro broker review

eToro Inc. is an ECN Forex broker headquartered in Cyprus. eToro’s brokering services are provided by RetailFX Ltd. and is regulated by FSA, BaFin, CONSOB, CNMV, Banque de France in France, FI, The Danish FSA, CMC, CSSF, AFM. In Australia is eToro Inc. regulated by ASIC and in the USA is eToro Inc. operating through eToroUSA and is a member of NFA under ID of 0382918. The forex trading platform and the retail currency trading branch of eToro Inc. were established in 2006.

At eToro you will have the opportunity to trade Forex, commodities including gold trading, silver trading and oil trading, CFDs as well as indices like the Dow Jones, NASDAQ, and FTSE.

eToro Features

There a number of advantages that result from becoming an eToro client, but from our point of view, the most exciting of them is the Social Trading Network. eToro also provides opportunities to learn Forex quickly. It also provides opportunities for traders to participate in free to enter weekly trading challenges for cash prizes.

Another useful feature is the unique Top Traders’ Insight tool which lets traders see the trades made by eToro’s top 100 profiting traders. This way, new traders can simply imitate the moves of the professionals without doing their market analysis. eToro’s OpenBook Social Trading Network enables you to see how the other members of eToro’s community network are trading at the moment and you will be able to follow their strategies or the strategies of the top traders and spot new trading opportunities for yourself. By clicking on a button, you can copy any trade that you want to.

Among the other features, eToro is providing, you might find:

Bronze Account

eToro’s most basic trading account offered to traders whose deposit is under $1000. Other benefits include:

  • Automatic entry in eToro’s Trading Challenge which has $1,500 weekly prizes
  • Real traders’ chat room free entrance
  • Pop up notifications for financial announcements
  • eToro’s weekly newsletter

Silver Account

eToro’s trading account offered to traders who trade over 300 lots or deposit over $1000. If you accomplish these requirements, your account will be automatically upgraded. Above the Bronze account benefits you can find here:

  • Access to the eToro’s trading online course
  • A personal account executive able to answer basic questions you might have about investing
  • Referral incentives for people who deposit over $2500

Gold Account

eToro’s trading account offered to traders who deposit $5000 and trade 600 lots quarterly. The benefits include:

  • A 10% bonus on your first deposit each month (up to $500)
  • Phone access to eToro’s trading room
  • Daily market reports
  • An account manager monitoring your trading and giving you coaching about Risk Management, Trading Strategy and Market Analysis
  • 3-day withdrawals, which is faster than with other accounts

VIP Account

eToro’s trading account offered to traders who deposit $20,000 which includes benefits as:

  • A 15% bonus on your first deposit each month (up to $2,000)
  • “One on One” training sessions along with Forex experts

eToro Trading Platform

etoro trading platform

With eToro’s trading platform you will have the ability to practice and trade forex online via its downloadable trading platform offering you two modes: the Visual Mode is an excellent tool for new traders and Expert Mode ideal for experienced traders. eToro’s trading platform was voted as “Most Innovative Trading Platform” back in 2010. It has also managed to overcome the technological barrier preventing novice traders from entering the Forex market. There is a very user-friendly web interface for those traders who prefer not to download trading platform.

Both types of traders, experts as well as novice traders can enjoy eToro’s OpenBook trading platform and see what moves other traders are executing, follow and copy their strategies. It takes only a few minutes to become with this platform.

eToro’s trading platform offers you many tools necessary for successful trading including charts, graphs or an economic calendar.

eToro Customer Support and Customer Service

eToro Forex broker provides Monday to Friday live customer support. It’s not instant 24 hours support and is reachable only between 6 am and 11 pm GMT. You can receive live support via email, chat or phone according to your preference. Answer to your basic questions can be also found in an extensive FAQ section on their website.

eToro Deposits and Withdrawals

eToro currently offers the following deposit options: Skrill (former MoneyBookers), Neteller, Paypal, MoneyGram, GiroPay, WebMoney, Western Union, Credit/Debit Card, and Bank Wire.

eToro Affiliate Program: eToro Partners

The best thing about being an affiliate is how easy it is to expand your field of affiliate activity to include Forex. With eToro’s affiliate program you will be able to enjoy great payouts. They will also supply you with the advanced marketing tools as well as advanced analysis tools and you will get also your personal affiliate manager who will support you every time you will need.

Conclusion and Final Thoughts

Overall, the eToro Forex Broker offers one of the most user-friendly trading platforms. For beginners, it is the best choice when it comes to picking a Forex broker but eToro offers many opportunities also to experienced and advanced traders. We highly recommend you to start with a demo account to see if eToro is the right broker for you.

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