eToro The Social Investment Network – Review

All of us who have traded currencies, commodities & indices in the forex markets know that forex trading is not meant for everyone. It takes a lot of education and practice to become a successful trader. Wouldn’t it be great if you could observe and learn from the best traders? eToro is an online forex broker that allows you to do just that.

eToro is not just an online forex broker, it is a social investment network that allows it’s user to access its community and gives you the opportunity to channel the collective potential of it’s diverse trading community for your individual benefit, by learning from, interacting with, and even automatically copying other eToro network members in real time. Today eToro claims to have more than 2.75 million users in more than 140 countries worldwide. Their fast growing online social trading community is being viewed as the FaceBook of social trading.

 

Foundation Year: 2007
Regulated By:
Cryprus – Cyprus Securities and Exchange Commission (CySEC)
United Kingdom – Financial Services Authority (FSA)
Germany – Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin)
Italy – Commissione Nazionale per le Societa e la Borsa (CONSOB)
Spain – Comision Nacional del Mercado de Valores (CNMV)
France – Banque de France
Norway – Finanstilsynet
Sweden – Finansinspektionen (FI)
Denmark – Finanstilsynet (The Danish FSA)
Greece – Capital Markets Commisions (CMC)
Luxemberg – Commission de surveillance du Secteur financier (CSSF)
Netherlands – Netherlands Authority for the Financial Markets (AFM)
Portugal – Comissão do Mercado de Valores Mobiliários (CMVM)
Belgium – Commission Bancaire, Financiere et des Assurances
Estonia – Finantsinspektsioon / Estonian Financial Supervision Authority
Lithuania – Lietuvos respublikos vertybiniu popieriu komisija
Romania – Romanian National Securities Commission (CNVM)
Slovakia – Národná Banka Slovenska
Austria – Financial Market Authority (FMA)
Australia – Australian Securities and Investments Commission (ASIC)
USA – Commodity Futures Trading Commission (CFTC) and are members of the National Futures Association (NFA)

Website Languages: Arabic, Chinese, English, French, German, Hungarian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Swedish, Turkish, Greek, Dutch

Account Options
Broker Type: Market Maker
Account Currencies: GBP, USD, EUR
Minimum Deposit: $50
Majors Spread:
EUR/USD: 3
GBP/USD: 4
USD/JPY: 2
Maximum Leverage: 400:1

Fees & Commissions:
Forex: No
CFDs: No
Margin Interest: No
Carry Trade Over The Weekend: Yes
Withdrawal Fees: $5-$25

The Trading Platforms

eToro OpenBook : The eToro open book allows it’s users to access the eToro community where you can view the top ranked traders, their trading history and chat with them. With features like the Copy Trader and Guru Finder you can allocate some of your funds on successful traders or gurus of your choice, then just sit back and watch as these traders/gurus do all the trading for you.

eToro WebTrader : The WebTrader allows you to login and make trades from virtually anywhere in the world. It has a very user friendly graphical design and user interface that makes it very easy to use for first time and newbie traders. The WebTrader is synchronized with your open book activity and also has a inbuilt chat feature making trading on eToro a fun activity.

Mobile Trader : With eToro’s Mobile Trader app traders who are always on the move can open/close and monitor their trades with their smartphones and tablets. Users can also view live feeds and copy trades with ease, view their trading activities and the activities of other traders while they are on the move and away for their computers.

Social Trading

However experienced you are as a trader, and however you like to interact with others, the eToro social trading community is rich with benefits and opportunities.

Beginner Traders

• Pick out your Social Trading Gurus – follow their trades, learn from their trading method and copy their trades automatically
• Track the ongoing performance of any trader through a series of simple tools and keep easily informed on everything they’re doing
• Interact with other traders to get useful tips and advice
• Keep your finger on investor sentiment

Experienced Traders (Social Gurus)

• Recruit followers and get recognized for your skill
• See how other hotshots trade, and spot more of the right opportunities as they happen
• Join the Social Guru program and earn commissions for your copiers
• Manage your own brand through your own Copy.me website
• Contribute guest posts to the eToro Blog to gain even more followers

Training:

eToro take forex training and education very seriously. You can register for a lifetime free practice account where u can practice trading with virtual money. They have a section called the Trading Academy where you can register for live webinars or take an interactive trading ecourse. You visit the ‘eToropedia’ section eToro’s online investment education center, where you’ll find everything you need to know about online trading. They also have a section to teach you how to use their own social trading system.

Customer Service:

eToro has a live chat support service that is available 24 hours a day except on weekends. You can also contact them via email and telephone support. They have a very informative help section, where you can type common queries and get instant readymade answers. They also have community administrators known as Evangelists who can be contacted via the openbook.

Wether you are a novice or and experienced vertan trader eToro caters to all types of users no matter their experience level. All these unique benefits and features makes eToro stand out as one of the best online forex brokers to invest in and worth checking out.

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