eToro.com Review

eToro.com Review

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If you’re looking for a unique Forex broker, eToro.com is the one to choose. eToro is more than just a broker. It is a leading social investment network, offering the opportunity for traders to follow the trades of other users and to expose their own trading experiences. eToro encourages people to connect with one another and to share knowledge across social networks.

eToro was founded in 2007 and is domiciled in the British Virgin Islands.  It is regulated by NFA, FSA and BaFin.

You don’t have to be a professional to trade with eToro. Setting up a trading account is easy and making your first trade can be done in three simple steps: you choose your investment stock, decide on the amount you want to invest and click ‘enter.’ You will immediately see the top performing investors at that particular moment and you can copy their trades if you so choose.

Trading Platform

eToro offers 3 trading platforms, including its WebTrader, eToro OpenBook and a mobile trading platform. WebTrader allows you to make trades from virtually anywhere, without having to install the software. But eToro WebTrader offers you even more: the excellent user interface caters especially to new traders and experienced traders can benefit from it as well. The design is organized and easy to understand, and traders should have no trouble executing their trades.

There is only one standard account at eToro and a minimum deposit of only $50 is required to start trading. Once you have funded your account, new traders can take advantage of eToro’s custom-developed  e-Course free of charge.

Features

As a supplement to their new social trading focus, eToro has added their ‘social guru trading program.’ As a Social Guru, you take the lead in the global trading arena and guide your ‘followers’ with your own perspective of market conditions using  discussions and blogs right on the eToro site.

eToro’s chat feature is quite unique as it offers traders the opportunity to chat with other eToro traders in real time. Traders can also choose to be ‘invisible’ if they don’t wish to receive chats or to announce that they are online.

Education is important at eToro and besides its blogs and comprehensive economic calendar, the broker offers a series of financial webinars to anyone who wishes to sign up. These webinars offer basic trading knowledge as well as advanced trading strategies and market analysis techniques.

eToro social Forex trading may not be appropriate for all traders, but it’s certainly a great option for new traders who need some guidance before plunging in to the market or for anyone interested in turning what is normally an individual pursuit into more of a collaborative effort.

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