eToro Review - eToro

eToro Review - eToro

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.

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..............