eToro has been operating forex trading services since 2007 and currently has more than 5 million users across 200 countries. What’s different about this broker is that they feature a social trading platform which allows their users to connect with other investors in the network and tap into their trading knowledge. Users can monitor and copy the financial trading activity of other investors and get access to all the tools that are needed for trading including the real-time rates and charting software.
They have an innovative trading platform where you can trade and invest in a wide variety of markets or copy leading investors via their CopyTrader system.
Friendly for traders
Their platforms are simple to use and their interfaces are very simple, sleek and loads quickly making it easy to monitor and manage all the trades.
Min account size
They require a minimum deposit of $/£/€ 200 to open an account and start trading. This is a great advantage if you are a trader with a conservative budget.
Min Lot size
Similar to the other brokers, the smallest lot size that can be placed with eToro is 0.01.
# Of Tradable Assets
There are over 1000 instruments that can be traded with this broker. That’s a lot of markets to choose from and a lot of opportunities to yield good profits.
eToro’s leverage is up to 1:400. With this competitive ratio, you can open a trade of a larger size than the actual amount that you invested.
Spread on EUR/USD
Their spreads may not be the tightest in the market but what they offer is still considered to be competitive. For the EUR/USD currency pair, they have a spread of 3 pips.
eToro accepts a range of payment methods. They support China Union Pay, Credit/Debit Cards, Giropay (Sofortüberweisung), Neteller, PayPal, Skrill Limited UK, WebMoney, Wire Transfer , Wirecard and Yandex.
Reputation Among Traders
Generally this broker has a good standing in the industry as it is backed by a good brand reputation, an innovative social investment network and support team that can be easily reached.
Their advanced platforms are fast and bug-free. They continually do upgrades and optimizations to make it even faster and more stable.
The demo account on the other hand has a $/£/€ 10,000 opening balance that can be used for forex/CFD trading in practice mode.
eToro is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA).
Their support team is very fast and can be contacted via phone, email and live chat so getting assistance is not a problem.
eToro has been very successful in incorporating social networking to their very own trading platforms. Such concept has allowed many of their traders to achieve high success rates and even interact with other investors. Signing-up with this broker is definitely a good choice thanks to their competitive trading conditions and the varied promotions that give multiple opportunities for you to increase your investment capital.
The total score that they received based on our objective scoring system is 92/100.
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Your capital is at risk
*All trading involves risk. Only risk capital you’re prepared to lose. Past performance is not an indication of future results. This content is for educational purposes only and is not investment advice.