Bottom Line
One of the best retail forex / social trading brokers around. Very clean reputation (you can hardly find any slur related to it, which is quite scarce in this field). Friendly service, friendly software, easy to understand even for complete beginners who never trader before. The focus is on fun and an intuitive UI rather than a place where experts can trade.
View this comprehensive eToro guide to learn more.
Important Facts
- Regulatory Authority: CySec
- Instruments: Forex, Gold, Silver & Oil
- Leverage: Up to 200:1
- Unique Features: Social Trading and Copy Trader and Islamic Accounts available
- Minimum Deposit: £50/$50/50 Euros
The Platform
The eToro platform is very easy to use which makes it suitable to use for some who wants to start trading for the first time. Trades can be undertook on the Webtrader, the downloadable application for your computer, trading can also be done by Mobile with support available for the vast majority of phones. While the platform is pretty basic it’s functional and easy to use. Some have complained that it can be slow to respond sometimes. The lack of sophisticated charting tools also leaves something to be desired, but this doesn’t represent the end of the world.
Special Features
eToro’s most unique feature is it’s social trader functionality, essentially you can see the trades that other traders are undertaking. If you see a particular trader who you would like to copy, you can set aside some of your trading capital to follow their trading activity (up to 20%). This is a big selling point for eToro, though I’m not sure how I would feel about handing my money to the mercy of someone else. While I’m sure for some people social trading will be a huge selling and point as well as providing experience about how other people trade.
Other Features
As you would expect from a big player in the retail CFD world a free demo account is available which comes loaded with a $10,000 play balance, which gives you a chance to try out the etoro platform risk free. eToro also guarantee’s that you will not lose anymore than your initial deposit, which is a great security feature if they honor it. Which they presumably would considering the feature is advertised on the site’s homepage. A educational course is also on offer at eToro which is meant to introduce a new trader to the world of Forex and commodities trading.
Spreads
The CFD spreads offered on eToro are not deemed to be terrible but neither are they the best on offer. Though there is is clear clarity due to the fact that commission is also worked into the spread with their being no other commission charge. While not the best spreads there still tight enough that a good trader can make some serious profits. If the tightness of spreads are your primary concern it is clear that eToro isn’t the place for you.
Customer Service
The customer service at eToro is generally considered be good. With live 24/5 Support and telephone trading on offer, eToro manages to tick all the boxes well. The account managers are generally considerate and try their best to get your issue resolved.
Regulatory Authority
eToro is regulated CySec, the regulatory authority of the Cypriot government. Many people are slightly wary of companies based in Cyprus but others have no such concerns about dealing with them. For more info on CySec check my article on Cysec. Personally, I think eToro makes it very clear where they are based and all the information is available in a very transparent away. I would and do feel safe dealing with eToro.
Overview, a good trustworthy site with lots of features that will appeal to newcomers and other traders a like. If your interested you can find out more at eToro
Special Features
eToro’s most unique feature is it’s social trader functionality, essentially you can see the trades that other traders are undertaking. If you see a particular trader who you would like to copy, you can set aside some of your trading capital to follow their trading activity (up to 20%). This is a big selling point for eToro, though I’m not sure how I would feel about handing my money to the mercy of someone else. While I’m sure for some people social trading will be a huge selling and point as well as providing experience about how other people trade.
Other Features
As you would expect from a big player in the retail CFD world a free demo account is available which comes loaded with a $10,000 play balance, which gives you a chance to try out the etoro platform risk free. eToro also guarantee’s that you will not lose anymore than your initial deposit, which is a great security feature if they honor it. Which they presumably would considering the feature is advertised on the site’s homepage. A educational course is also on offer at eToro which is meant to introduce a new trader to the world of Forex and commodities trading.
Spreads
The CFD spreads offered on eToro are not deemed to be terrible but neither are they the best on offer. Though there is is clear clarity due to the fact that commission is also worked into the spread with their being no other commission charge. While not the best spreads there still tight enough that a good trader can make some serious profits. If the tightness of spreads are your primary concern it is clear that eToro isn’t the place for you.
Customer Service
The customer service at eToro is generally considered be good. With live 24/5 Support and telephone trading on offer, eToro manages to tick all the boxes well. The account managers are generally considerate and try their best to get your issue resolved.
Regulatory Authority
eToro is regulated CySec, the regulatory authority of the Cypriot government. Many people are slightly wary of companies based in Cyprus but others have no such concerns about dealing with them. For more info on CySec check my article on Cysec. Personally, I think eToro makes it very clear where they are based and all the information is available in a very transparent away. I would and do feel safe dealing with eToro.
Overview, a good trustworthy site with lots of features that will appeal to newcomers and other traders a like. If your interested you can find out more at eToro
