If you are looking for an honest eToro Forex broker review, you are probably at the best place. eToro’s foreign currency exchange system was built to always be user-friendly and helpful to starting traders, and considers that new users don’t have any experience in forex trading. Nonetheless, the tools are robust enough to get used by specialized traders and has been built to deal in all important currencies in the foreign marketplace.
eToro Forex Broker Review
Located in Cyprus, the eToro company is led by a group of finance professionals, software program developers, and advertising experts. eToro’s platform is a Webtrader (non-downloadable platform) that provides both a training area and a genuine, live buying and selling area. Besides forex, eToro also allows trading in Gold & Silver, Oil & CFDs.
When a broker registers for eToro, the trading area is displayed as a basic, visible set of tools that allows an individual to concentrate on tactic rather than the mechanics of forex trading. A person can spend endless time in training before accomplishing a real trade. There are actually a range of ways to fund a live trading account – a direct deposit by credit card, PayPal, or Neteller, or payment methods such as wire transfer, Western Union, or MoneyGram which require a couple of days to deposit. A fresh account is usually funded with a minimum of $50, and there are many special promotions and first deposit bonuses for new accounts.
You will find no account levels; all dealers get access to similar tading levels. Traders receive access to electronic content, real time information about the exchange rate of foreign currencies, and the platform’s tools for executing transactions in the internet fx marketplace. eToro offers weekly practice dealing chamionships amongst members, with cash prizes for the winners.
Support methods for traders consist of online chat, guided courses, a glossary, trading e-guide, live exercising over the phone. Accountholders likewise have access to financial info, market analysis, charts, live trader forums, and technical analysis. The client service line is a 24-hour functioning and service is offered in English, German, Arabic, Russian, Chinese, Spanish, French, and Italian. eToro offers Islamic account terms.
eToro First Deposit Bonus Details
- First deposit $100- $399 get $25 bonus
- First deposit $400 – $999 get $100 bonus
- First deposit $1,000 – $4, 999 get $250 bonus
- First deposit $5,000 – $9, 999 get $500 bonus
- First deposit $10,000 – $19, 999 get $1, 000 bonus
- First deposit $20,000 and more get 10% of their first deposit amount, thus if a trader deposits $100,000 he will receive the maximum $10,000 bonus.
Uncomplicated user interface: eToro’s simple interface and user-friendly design allow it to become simple for beginners to recognise basic Forex concepts and start dealing.
eToro Openbook & CopyTrader: eToro Openbook & CopyTrader are revolutionary methods. Openbook can also be considered a facebook for forex traders although CopyTrader has changed the way people trade, by enabling them to build real people-based profile.
Attractive 1st deposit Bonuses: eToro provides quite interesting 1st deposite bonuses upto $10, 000 for new accounts.
A range of service tools: eToro offers tutorials, internet help, and phone assistance to members.
eToro test account to practice trading: Starters can use the training trading function and “play money” to learn Forex concepts; there isn’t any limit to the volume of training someone can use.
Low account minimum & Low Spreads: Clients can begin trading with as little as $50 in an account; there are no outlined account levels with extra features. Spreads as low as 2 pips.
Cartoon-like user interface: The simplicity of the user interface “dumbs down” forex trading and tends to make the process seem cartoonlike rather than reflecting the complexness of trading.
Actual Client Reviews and Complaints for eToro
I were dealing forex on etoro for about 3 weeks now which is a brilliant system. This tool is definitely intended for people that desire to enter forex. I started using training account and merely after a long time started to deal with real money.
Finally, eToro looks like a good tool for beginners and people who wish to acquire exchanging practice, but at same time if you are skilled trader it do offer tools and expert mode trading solutions. Hope this eToro forex broker reviewwill help you making your decision for opening a forex broker account.