The Forex trading platform eToro has been in business for three years. This sounds very young, but that does not mean that eToro is not mature or insecure. EToro has established itself very quickly in the Forex market and is now one of the largest Forex companies.
Especially when you’re new to Forex trading you should try eToro because it’s one of the best options for novice traders. Their innovative and user friendly platform guarantee an easy start into the world of Forex trading.
(Trading involves risk)
The software is downloadable and free of charge. It is laid out very clearly and there’s both expert and beginner mode. The latter tries to avoid overwhelming new traders with too much information. Everything is intuitive to use and it does not take long until the trader gets used to the software. Also unique is the eToro community where you can exchange with other traders while trading. You can pick up some tips from experienced traders. But be careful: Never blindly trust the opinions of these traders. It is not only a community area. You can also find interesting Forex news. The software is of very small size and thus the download is very fast. Although the structure is kept very simple, you can analyze charts in detail with the most popular metrics.
You can also chose to just trade in the browser. When using the webtrader, you don’t have to install any Forex trading software.
In 2011, eToro launched OpenBook and then CopyTrader. This is an awesome tool, as it lets you copy the trades of successful traders automatically. Read more about this free tool in our CopyTrader review.
EToro offers a bonus up to $ 1000. A minimum deposit of $ 50 is very welcome for new traders. You can’t make huge amounts of money with only $ 50 but it’s perfect for novice traders to start trading without risking too much. Here’s how the bonus currently looks like:
Your Deposit and your bonus
$50 – $999: Get a Bronze account
$1,000 – $4,999: Get a Silver account
$5,000 – $19,999: Get a Gold account
$20,000 and up: Get a 5% Bonus* and a VIP account
* The 5% bonus is limited to $10,000
eToro Deposit Options
Credit Card, PayPal, Neteller/1-Pay, MoneyBookers, WebMoney, GiroPay, Wire Transfer, Western Union, MoneyGram.
eToro Trading Characteristics
Maximum Leverage: 400:1
Minimum Margin: 0.25%
Spread: 3 pips
Available Currency Pairs: 16
eToro is offering a free demo account. Unlike other FX brokers, the practice account is unlimited and not limited to 21 or 30 days.
eToro is always ready to extend its offerings. Meanwhile, the trade with oil is allowed. Before, it was just gold and silver. Also new are indices. Unfortunately, no shares will be traded.
There are good reasons why eToro became one of the most popular Forex brokers in the world. Constant innovation and a consistent improvement are crucial for eToro’s success. eToro is recommended especially for new traders. But even experienced traders can use eToro without restrictions. Professional chart analysis is possible. And with the 16 currency pairs you can do something as advanced traders. All in all a great Forex provider that has almost no flaws.
|+ Free unlimited demo account||– Only 16 currency pairs|
|+ 7×24 support and Forex school|
|+ Up to $1,000 bonus, only $50 minimum deposit|
eToro is one of the largest Forex broker and a lot of traders made their own experience with it. Let’s take a look at the opinions of people that already traded with eToro:
I deposited $ 700 and made a profit of $ 100 so far. My account manager gave a lot of good advice that made some money. I think that eToro is a great company.
Very innovative Forex platform.
Looks good so far except for the fact that their support is a bit slow. I was called pretty quickly that I should stay in a position any longer. It looked like I was scalping (which is not allowed at eToro) although I was just inexperienced. There have not been any problems after that.
I downloaded eToro and tested a bit. It looks very smooth and simple. Nothing for professionals I think. There are other platforms that are better suited for professionals.
Slow costumer support and bad software when you’re using the flash based webtrader.
eToro was my first broker that I was using. Very easy to start with and I can recommend them. But if you’re experienced already you realize that the software is too childish. But this is the only negative thing I can think about. The support is great and my account manager gives useful advice all the time. Withdraws work quickly and smoothly.
Pretty nice platform but if you’re a professional you should use Metatrader 4.
I’m in this Forex biz for years now. eToro is a great broker to learn Forex trading. I was losing money at the beginning but thanks to great advice from my account manager I made solid profits. It was not easy but now I’m making constant profits and don’t have any issues when I make a withdraw.
I’m not sure about eToro. To me, the platform is too slow although it’s very simple. The alarm bells are so annoying.
eToro is great but I don’t like their bonus because you can’t withdraw that easily when bonus money is still in your account. I had to contact their support to know more about the requirements to make a withdraw.
I deposited $ 2000 and traded a lot. The platform is very easy to use. I was called that I should use a smaller leverage to minimze my risk.
I’m new to eToro and it looks good. Great support and a cool platform. Very innovative and user friendly. High bonuses made me think that eToro is the best offer and I think it really is.
I really love the public chat at eToro. You can learn a lot here and I don’t think that another broker is offering this great tool.
eToro is fantastic. I’m a pretty new trader at eToro and never saw that many great features so far. I chose their $ 500 bonus that makes it easier for me to trade properly.