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eToro

ETORO BROKER REVIEW

eToro is the first global market place for people to invest and manage their funds simply and transparently. With over 1.5 million users in more than 130 countries worldwide, and 2,000 new accounts opened each day, it is the world’s largest investment network.

Based in Limassol, Cyprus, eToro was founded in 2007 and is regulated by NFA, CySEC, ASIC, CFTC and MiFiD. Their award winning platform, OpenBook, was named the most innovative forex trading platform by World Finance Magazine in 2010.

OpenBook enables users to view, share, and even copy their chosen trader’s moves in real-time. By enabling traders to follow and interact with each other, OpenBook breaks barriers between traders, accelerates knowledge sharing and shortens the learning curve for users that want to bring their forex trading experience to the next level.

Many customers that are new to the world of forex trading are unfamiliar with the risks involved in forex. That’s why it provides a range of responsible forex trading features like pre-set leverage settings to help customer’s easily calculate their risk. It’s Guardian Angel system is another innovative tool at customers’ disposal, providing real-time recommendations and advice to support the customer’s trading style and preferences.

With trading options such as no commissions, easy platform installation, and an active community of traders, it also offers plenty of practice money for the user to get acquainted with the trading platform.


Forex Trading Hours:

Open Sunday 21:00 GMT, Closing Friday 20:00 GMT


Languages:

eToro’s Website is available in 17 languages i.e. Arabic, Chinese, Korean, Dutch, English, Finnish, French, German, Greek, Italian, Japanese, Norwegian, Portuguese, Russian, Spanish, Swedish, Turkish.


Forex Account & General Information:

Account Types Practice, Bronze, Silver, Gold & VIP
Minimum Deposit US $50
Minimum Trade Size 1,000 units (after leaverage)
Interest on Margin No interest on margin
Margin Requirement No
Currency Pairs 16 pairs available
Spread Varies from 2 to 17 pips
Demo Account Limit No limit of time with $10.000 virtual amt.
Leverage 1:2, 1:5, 1:10, 1:25, 1:50, 1:100, 1:200, 1:400
Trading Products Currencies, Commodities & Indices.
Trading Software Web Trader, Open Book, Mobile Trader
Automated forex Trading Copy Trader


Forex Bonus:

Traders who have a VIP Account of $20000 or more may receive deposit bonuses of 5%.


Deposit / Withdrawal Method:

Deposits accepted by: Credit Card (Visa, Mastercard, Diners), PayPal, Neteller/1-Pay, MoneyBookers, WebMoney, GiroPay (available in Germany only), Wire Transfer, Western Union, MoneyGram.

Withdrawals can be made through Credit Card, Paypal, Moneybookers/Webmoney/Neteller (eWallets), Western Union/MoneyGram, Bank transfer.

There is a withdrawal processing fee depending on the requested amount and withdrawals can take upto 5 business days.


Commission or Fee Structure:

eToro do not charge any commissions or fees on forex trades. Their revenues come strictly from the spreads (the difference between the Ask and the Bid prices of a currency pair) which are exceptionally low.


Especial Features:

  • Personal Account Manager.
  • Swap free acconts available
  • Practice money to trade with even if markets are closed or inactive.
  • Get more practice money if you run out.
  • No roll over fees.
  • Full Account control by user.
  • Total Transparency.
  • Simplified and user-friendly web based forex trading platform.
  • Excellent forex resources and educational material
  • Accepts USD/EUR/GBP for Deposits.
  • Customer support in 8 languages including Arabic, Chinese, English, French, German, Italian, Russian, Spanish.
  • Win exciting Prizes of upto $1,000,000 each year by participating their Trading Challenge Competition
  • Full set of easy to use support tools like Online Chat, Economic News, Guided Tutorials, Live Training, Charts, Technical Analysis etc.


General Features:

  • Upto $10,000 Welcome Bonus on your first deposit.
  • Multiple deposit and withdrawal options
  • Excellent Customer support.
  • Low spreads.
  • No commissions.
  • No risk of Debt.
  • Unrestricted phone access to the dealing desk for trade execution, only for Gold and VIP clients.


Customer Support:

Live Customer Support Monday till Friday between 06:00 and 22:00 GMT. Email, chat and Freephone number as well as customer service phone numbers are available.

Best Brokers 2012