eToro Financial Trading

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eToro Financial Trading

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URL: etoro.com
Established Year: 2006
Mobile Compatibility:

eToro Financial Trading Review

Review last updated on March 1, 2016

Forex financial trading is rather new to most, though a familiar playing field for many others. Perhaps best known of all trading platforms is eToro. Surely, excellent brokers such as eToro is fundamental.

The eToro online forex trading platform provides a foreign exchange platform that is simple and friendly. Financial trading newbies and experts will all find the eToro software user friendly and professional, while benefitting from community features including public and private chats.

Players can use eToro to trade on the Foreign Exchange Trading Market in a game-like setting, which makes it entertaining and intuitive.

The trading arenas include Forex Marathon, Dollar Trend, Globe Trader and Forex Match. Services include Trading Log, Championships and Chats.

It is translated into French, German, Russian and Arabic to accommodate a global community of knowledgeable and thrill-seeking traders.

eToro has a low minimum account for opening and trading amounts, ideal for those new to trading. Low spreads of 2 pips are also nice to have, good for frequent trading.

As a large operation, eToro has excellent execution of orders - fast and responsive.

Financial news and data help complete the eToro package and make this one of the best foreign exchange platforms around.

You can also find forex guides for beginners and advanced traders, forex glossaries and lessons.

*eToro does not accept US customers.

Bonuses, Promotions & Wagering Requirements

There is an enticing and instant welcome bonus up to $1000 on the first deposit with eToro meaning that you get a little extra trading cash to begin your adventure. In addition, when you invite your friends to join the eToro trading community you'll receive a personal bonus payment of $100 if they deposit a minimum of $100. On top of this, your friend will receive an automatic referral gift of $50.

Software Features & Graphics

It is hard to disagree with eToro's self-serving claim that they deliver a ground breaking design and visual, game like interface. It was clearly designed with the user in mind (and we mean the user with little or no currency trading experience). Whilst it is unique, it is rather obvious how to navigate your way around the site. It really makes your trading a simple and stress free experience as possible as the software platform is intuitive and logical even for newbies to eToro. There are video tutorials to walk you through the various steps and you will not be overwhelmed with fancy and complicated charts which you have no idea how to interpret. The feature that eToro is most renowned for is its graphic visualization of the trades which is simply terrific especially for those of us who are new to forex trading. And it is all quite entertaining watching currencies run marathons or wrestle with each other sumo style. There is also an expert mode for those traders with more experience up their sleeve but this will not give them the 'game' aspect of eToro. However, they will have one click trading with no need to confirm trades. Trading Challenges Every week there is a trading challenge presented to eToro customers which offer some pretty good cash prizes. The trader with the highest weekly profit wins the challenge and gets $500 for his or her efforts. There are also prizes awarded to those who come in second all the way through to tenth!

Loyalty Points and VIP Clubs

Those who deposit

  • between $1,000 $1,499 qualify for a Silver Trading Account;
  • between $5,000 to $19,999 quality for a Gold Trading Account;
  • more than $20,000 qualify for a VIP Trading Account.

These accounts are all about those little added luxuries. Account holders will enjoy perks that are not available to regular eToro traders such as a 10% bonus on your first deposit each month, a personal account manager, automatic enrollment into eToro Trading Challenge, a daily market report in your in box and a $200 bonus for referring a friend.

Customer Service & Support

All traders have access to live customer service from Monday to Friday between 6 am and 10 pm GMT. eToro offers a dedicated team of professionals contactable by phone, live chat and email to ensure you have an enjoyable trading experience. There are toll free numbers for a number of countries including the US, Canada, Australia, United Kingdom, France, Italy and Malaysia.

Other Support You need not fear if you are new to foreign exchange trading as with eToro you will be offered a range of tutorials and training guides to help you understand all the factors affecting currencies. They offer some of the best tools in the industry to help launch your new career. For instance, real account holders who have made a deposit will have access to eToro's Forex Matador course and Gold or VIP account holders are entitled to a personal trading coach to help you well on your way to becoming a professional trader. Plus, eToro has gone the extra mile to build their online community with a number of social features such as forums and chats. For example, there is the 'Sharing the trading experience' forum where you can glean some tips and strategies from other experienced traders. Plus, with the eToro news blog you'll have no trouble staying on top of the latest forex news which is vital if you want to keep in step with the latest short and long term trends in the market. It is updated daily and will quickly become one of your trusted sources when making your trading decisions. There is a special section dedicated to just the Euro-dollar alone. Finally, if you still feel like you're not quite ready to take the plunge, you can trade use a free practice account with live market rates.

Banking & Payment Options

Deposits can be made into your eToro account via a number of mechanisms including credit cards (such as Visa, Diners International and MasterCard), direct wire transfers, PayPal, NETeller, MoneyBookers, WebMoney, GiroPay (Germany only), Western Union and MoneyGram. These are all convenient, fast and straightforward to use. There are, however, minimum and maximum deposit amounts depending upon the payment method you use. The lowest is $50 which is relatively low minimum. Withdrawing funds is apparently equally as easy as depositing funds as all that is required is completing and submitting an online form. All data is encrypted using the industry standard Secure Socket Layering (SSL) technology to ensure maximum safety of personal and banking data.

Languages

As we mentioned, there is an impressive array of languages which as you can see is not just European focused thankfully. Amongst them are Italian, Spanish, Portuguese, French, Chinese, Polish, Arabic, Japanese, Dutch, Greek, Swedish, Norwegian and German. All this is in an attempt to open up to as broad a market as possible.

Regulation

eToro engages various regulated brokers around to the world provide their services and all are of the highest caliber and subject to rigorous compliance checks. All are required to provide financial reports under national and international laws. In Europe, its brokering services are provided by RetailFX Ltd, whilst in Asia Pacific they are provided by IC Markets and finally in the US, they are delivered by FX Solutions.

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