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eToro Review
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(11 votes, average: 7.09 out of 5, rated)
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Etoro is a Cyprus based forex trading brokerage company with the corporate offices being located in Limassol, Cyprus. Local toll free numbers are available for Australia, Canada, United Kingdom, Spain, Italy, Brazil, Bahrain, France, Malaysia and Jordan. The eToro website is simultaneously available to clients in eleven languages, prominent among them being English, Spanish, French, and Italian Portuguese amongst others.
Company Market Position
eToro offers a unique trading experience to any forex trader whether he is experienced or not in forex trading.
This brokerage company has a trading platform that is vastly different from the others in the business. Specifically the site and the platform by itself are visually rich in content. There are no partners that were identified with etoro, although etoro has its own affiliate programme.
Types of Services offered
An etoro account can be opened with a minimum of $50. Money can be deposited in real account via bank transfers, credit card or Pay Pal. You can also withdraw money to your credit card account or ask for a wire transfer to your bank account.
Forex trading can be conducted absolutely free of commission.
The spread is usually 2 pips for all the major currencies, whereas the leverage ratio varies from 1:10 to 1: 400
Trading Platform
The trading platform can be easily installed in your computer by downloading the etoro software. Demo facility is also available.
When you open the etoro trading software you will find that you have several ways of trading forex, all of which are designed to attract you to forex trading. For example Forex Marathon allows you to choose the desired currency to trade against its pair.
Forex Trend provides you with information about the economic trend and a proper analysis of the currency available for trading.
Globe Trader helps you get started in Forex Trading and Forex Match is for the trader who prefers technical analysis.
Then you have Trade Box which is designed for the advanced trader types who like to indulge in trading multiple currency pairs. No doubt this is an imaginative way of doing forex trading.
The software has additional features like Championship and Chat. For example, there are periodic championships available for the users to win. The Chat feature allows you to communicate with other traders using the same software.
They also have the Webtrader platform which is based only on the web access and doesn’t require any download. The Webtrader includes all the trading tools you need and is very comfortable as you can access it from any place in the world.
Trader Support
Trader support is available in all languages in which the website is viewable.
There is total transparency in providing contact details of the site personnel. Telephone numbers are also provided.
Customer support is available on a 24/7 basis through email, phone or chat. eToro provides its traders Live Customer Support Monday till Friday between 06:00 and 22:00 GMT
Site design and ease of navigation comments
Overall, etoro forex is indeed a very easy site to navigate and arrive at the content you were looking for.
Advantages
The multi lingual facility provided at the website is helpful.
You could chat with other traders while engaging yourself in trading.
There is absolutely zero commission on all forex trading activities at the site.
Etoro has guided tutorials at the site along with a facility for “live” training by telephone.
Disadvantages
no automatic trading
Important points that every trader should know
- Up to 1000 bonus for the first deposit!
- Min. deposit $50
- Low spreads from 2 pips
- No commissions and swap
- Webtrader
- Commodities trading (Gold, Silver and Oil)
- Demo and real championships with real prices.
|
Deposit |
Receive Bonus |
|
$100-$399 |
$25 |
|
$400-$999 |
$100 |
|
$1,000-$4,999 |
$250 and get a Silver Account |
|
$4,999-$9,999 |
$500 and get a Gold Account |
|
$10,000-$19,999 |
$1,000 and get a Gold Account |
|
$20,000 and more |
Call for special offers and get a VIP Account |
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I use etoro for a long time and like their platform as well.
Very recommended!!!
Wow, eToro is more like a video game! Even a child could find this interesting. I found this great fun, especially the Forex Match section.First time I got to see a graphical tug of war between currencies.
eToro has got this fab forex marathon,and thats one of the four trading areas. Guess what? They have got nice analogies lined up. Sumo wrestler for Yen, farmer for the USD and businessman for Euros, if nothing it makes you think!
One problem with eToro is volatility outdoing stop loss. So in volatile times if stop loss closes below the point you set, trade could just evaporate
etoro is the best of the lot especially if you were a beginer.
I like etoro platform especially their support, great working with them!
I trade with eToro for few months already and really love its Forex Trading approach. It is easy to make money here.
I found a lot of exciting features in etoro and that’s something I haven’t seen in any broker for that matter.First is of course is the graphic interface and that to me means never a dull moment.I like visually rich content as I trade, and that’s exactly what I get with etoro. And etoro allows me to chat with my buddy traders as I trade.Finally the bonus that etoro doles out is a plus even though I am a small trader.I like etoro simply because its different from the others.
Etoro sure makes forex trading seem like a game of dice. I have been forex trading for close to 5 years now, yet am not sure which broker is good for me and which not. All it took was $50 to open a real account with etoro. Spreads were in the 2 pip range and leverage I settled for 1:200 although I could well have opted for 1:400. Platform was the usual downloadable installable kind of thing. What’s amazing is etoro tries to sort of attract you to forex trading, like for example you could go in for the room with Forex Marathon, or you could choose the Globe Trader, or Trade box, each with its own peculiarity. I went in for Forex Marathon as I could do hedging there.
Installation wise you have yet another option in the Webtrader platform, as then you wouldn’t have to download it, and all you need is Internet access from anywhere in the world. If you ask me about support, I would say that was excellent, but the hitch was stick to etoro’s timetable Monday to Friday to access support. Else you just don’t get any barring the odd email.
I did try a few of those etoro tutorials, but that was basic stuff, that may be I could have got it elsewhere too. Etoro supposedly gives live training by telephone, but I just couldn’t get across to them on the telephone from this part of the world, Asia. May be it would rock for somebody in Europe, especially as the site is multilingual with plenty of European languages like French, Spanish, Italian and Portugese.
eToro is a great platform. My friends and me enjoy trading with eToro a lot. The trading execution is smooth and withdrawals are fast.
Not a very good software in my opinion. You cannot hedge in crucial time and you lose a lot of money due to that reason. It used to freeze a lot before but now this problem is solved but still need major upgrade if i ever consider investing money again.