eToro

Details

Broker eToro Group ltd.
Website URL eToro.com
Founded 2007
Headquarters Limassol, Cyprus
Support Number 357 2 5030234
Support Types Email, Chat, Phone
Languages English, Italian, Spanish, German, Russian, French, Portuguese, Greek, Turkish, Dutch, Arabic, Polish, Chinese, Japanese, Finnish, Swedish
Trading Platform eToro Mobile Trader , etoro Openbook , eToro webTrader
Minimum 1st Deposit $50
Minimum Account Size $50
Bonus Special Promotion Offers
Leverage 400:1
Spread from 2 pips
Free Demo Account Open Demo
Regulated Yes
Regulation ASiC, CFTC, CySEC, FCA, MiFID, NFA
Account Types Standard, Premium
Deposit Methods Bank Wire Transfer, Credit Card, Debit Card, Skrill, MoneyGram, Neteller, PayPal, Webmoney, Western Union
Withdrawal Methods Bank Wire Transfer, Credit Card, Debit Card, Skrill, MoneyGram, Neteller, PayPal, Webmoney, Western Union
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 4.35/5

Pros

  • Automated Trading
  • Comprehensive Training Academy
  • Ground Breaking Social Trading Platform
  • Multiple choices of trading platforms
  • Regular Attractive Promotional Offers
  • Extensive Social Trading Features
  • Practice Account
  • Highly Regulated

Cons

  • High Spread
  • Limited Choices of Forex Pairs
  • Their Platforms are Non Customizable
  • Trading Charts lack sophisticated tools

eToro, founded in 2007 and domiciled in Limassol, Cyprus, is a leading social site on the global scene with 5,000,000 traders. It is regulated by NFA, CySEC, ASIC, CFTC, MiFID, FCA and has been the recipient of several awards. eToro is one of the leading social trading platforms. Social trading is a process that offers an opportunity for Forex traders who trade online to retrieve information assembled from other retail traders and use their combined experience and knowledge to trade in their own accounts. Traders can connect with other traders, discuss trading strategies, and use the eToto patented CopyTrader™ technology to automatically copy their trading portfolio performance.

Trading Platforms

Since the debut of their OpenBook social trading platform, eToro has gone on to improve the functionality of their platforms. Now, eToro have provided their traders with 3 ways in which they can trade the markets namely with eToro WebTrader, eToro OpenBook and eToro Mobile Trader.

eToro OpenBook

Regarded as the most popular forex social trading platform in the world, eToro OpenBook platform lets you follow the progress of other traders as well as lets you interact with them in real time and puts the power of networking into the palm of your hand. With the integrated “Copy Trader” feature, you can copy the trades of your more successful peers automatically in real time as well.

eToro WebTrader

A web based powered trading platform, eToro WebTrader provides you with all the tools that you need to analyze your trades as well as letting you synchronize with OpenBook to copy the trades of others.

eToro Mobile Trader

With the introduction of eToro Mobile Trader apps, traders can now also access the power of social trading with their smartphones and mobile devices.

Commission & Spreads
At eToro there are no commissions payable. Instead, traders have to pay a slightly wider spread on all their trades. With the exception of Bitcoin transactions (1 pip spread), the typical spread at eToro starts from a minimum of 2 pips for the USD/JPY currency pair and 3 pips for the EUR/USD, USD/RUB USD/CHF and USD/CAD. For less frequently traded pairs, the spreads can go up to as high as 14 pips.

Customer Support
Customer support services at eToro are provided in several major languages and are available 24/5. Contact with the support team can be done through email, live chat or the phone.

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