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eToro Review
eToro general information
Founded in: | 2008 year |
Headquarters: | Cyprus |
Offices in the country: | United Kingdom, China, Russia |
Minimum Deposit: | 50 $ |
Website: | www.etoro.com |
Website languages: |
English, Arab, Spanish, Italian, Chinese, Deutsch, Polish, Russian, French |
Execution model: | NDD, STP |
Deposit currency: |
USD, EUR, JPY, GBP, AUD, CAD, CNY, RUB |
Support languages: |
English, Arab, Spanish, Italian, Chinese, Deutsch, Russian |
Regulated by: |
ASIC (Australia) license №AFSL 335692 FCA (United Kingdom) license №583263 CySEC (Cyprus) license № 109/10 CNMV (Spain) |
Mobile trading: | iOS, Android |
Types of offered accounts: |
Unlimited Demo Accounts, Standard Accounts, VIP accounts |
Autotrading: | Etoro |
Affiliate program: | Yes |
eToro Forex broker description
E Toro is a forex trading company with a strong online presence. It was established in 2007 and has been in the game consistently for over a decade and continues to carve a niche for itself in the world of forex trading.
Trading Accounts
E Toro has two trading accounts that are specially designed to suit clients trading needs with the major aspect being experienced. These accounts are the retail and professional trading account.
The E Toro Retail Account
This is the basic or standard account type that is found on this trading platform. It is designed to suit the needs of every client both the novice and the experienced. The following are the perks that a client will accrue from having this account.
- Access to a vast range of trading assets from shares, stocks, cryptocurrencies, indices, and commodities among others.
- Negative balance protection.
- Clients with this account are covered by the investor compensation fund in case of liquidation of the firm’s funds.
- Clients can trade either manually or copy trade.
The E Toro Professional Account
The E Toro professional account is another type of account provided by the trader to its clients. Just like the name, this is an account designed for professional traders who have experience in trading and are willing to stake large amounts of cash in their trade execution. To have this account, a client will have to apply for it on their online platform and if the client meets the set criteria, he or she will be able to get the professional account.
Among the many benefits that come with this account type include:
- No restrictions on using leverage.
- Negative balance protection.
- High leverage trading.
- Professional account holders incur no charges on withdrawal of funds from their accounts.
The Company. Security Of Funds
E Toro as earlier indicated has been in the trading business for over a decade which has been characterized by the growth of this firm. E Toro prides itself in being among the first forex traders to have a social trading platform that has a big hand in making it a success.
Over the years E Toro has made a decent name for itself and has been able to penetrate various markets worldwide making it a global brand. Founded in Israel, it has crawled its way to have headquarters in Cyprus, London and also in Tel Aviv. This has enabled it to have clients worldwide and the numbers continue to grow at a very steady rate.
E Toro has managed to invest in the most qualified staff as its personnel to run its affairs and maintain an awesome working relationship with their many clients. The personnel ensures that each client's needs have been solved ensuring an excellent customer experience.
On matters of credibility, this trader has all the licenses and regulation status on point by the relevant regulatory bodies in all regions it has its operations. Among the licenses it has acquired include:
- E Toro Europe has been licensed by the Cyprus Securities and Exchange Commission (CySEC).
- E Toro in the United Kingdom has been given a clean bill of operation by the financial conduct authority (FCA).
- Both the European and UK sections are governed by the markets in financial instruments directive (MiFID).
- E Toro in Australia is governed by the Australia financial services license (AFSL).
- E Toro in its bid to uphold its integrity and gain the much-needed trust from its clients has put up measures that ensure clients' funds stored by them are in safe hands and very secure.
Among the measures put in place to ensure this include:
- Having separate bank accounts for the clients’ funds and also for their operational funds to prevent any mix up from happening.
- Clients’ funds are stored with the most credible banks which have a good working relationship with E Toro.
- E Toro is a member of a compensation scheme that will come through to sort out the clients in case of the rare occurrence of the company’s liquidation.
Trading Conditions
Minimum Initial Deposit
The minimum initial deposit varies according to your region. It ranges from $200 to $10000 and will serve as your base capital in your trading conquests as well as act as a shield in case of a loss on a trade.
Inactivity Fees
If your account has been inactive for 12 months for depositing accounts and 4 months for non-depositing accounts, a fee of $10 will be charged. This will be incurred from your account’s fund balance.
Commissions And Spreads
E Toro account holders incur no commission at all. The spread type on offer is the floating type.
Trading Platforms
E Toro has its own customized trading platform that has been designed specially to meet its needs and also of its customers as a social trading platform. This platform is advanced and provides awesome tools that will allow you to execute trades hassle free. This platform comes only in one mode - The E Toro mobile platform.
The E Toro Mobile Platform
The mobile platform was designed to take advantage of the growing popularity of mobile phone use. The mobile platform is accessible after downloading the application and signing in. among the benefits of this platform include:
- It is easy to use and free on download.
- It is compatible with a host of mobile operating systems such as Android and also ios.
- Provides excellent charting and drawing tools.
- Fast execution of trades.
Withdrawals And Deposits
Withdrawals and deposits to and from your account are very easy and you will use the agreed upon modes to deposit or withdraw. It accepts both debit and credit card and also e-wallet payments. Accepted modes include Skrill, Neteller, PayPal and visa among others.
BRIEFLY ABOUTE E Toro
In conclusion, this is a very credible trader offering special tendered services to all of its clients. A look at E Toro customer comments and reviews gives you a feeling of trust and professionalism. eToro is a great trader for both novice and experienced traders in the forex business
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
Trading accounts of eToro
- Standart
Trading platforms: | eToro Trader |
Minimum Deposit : | 50 $ |
Deposit currency : |
USD - US Dollar EUR - Euro JPY - Japanese Yen GBP - British Pound AUD - Australian Dollar CAD - Canadian Dollar CNY - Chinese Yuan Renminbi RUB - Russian Ruble |
Trading instruments:
| CFD's1:30 Amount of assets : 1000
Metals1:30
Energy sources1:30
Cryptocurrencies |
Stop Out:
| 20 % |
Max. number of orders:
| |
Execution type:
| Market Execution |
Swap Free:
| Not |
VIP Account:
| Yes |
Spread type:
| Floating |
Decimal places:
| 4 characters |
Margin Call:
| 20 % |
Locked Margin level:
| 20 % |
Commission:
| Not |
Phone trading:
| Not |
Contacts of eToro
Recent customer reviews of eToro
Advantages: no withdrawal
Disadvantages: high fee
Comment: Thanks to Mrs Jane who helped me recover all my lost funds in forex and crypto trading including my profits, i was a big fool giving my hard earned money to greedy and scammed brokers, but am so happy i met Jane silva a honest woman who helped me recover all my lost funds, and she also gave me the right signal and platform to trade with, now am able to make $5000 weekly, and am very happy, that is why i cant stop testifying about her, if you are out there still experiencing failure trading in binary option, crypto and forex trading or you want to recover your lost funds trading in binary/ forex trade i will advice you to reach out to her via email on janesilva0727 gmail com
Advantages: Great for social trading Licensed by FCA Unlimited demo account
Disadvantages: None
Comment: This broker is definitely the best one if you want to use social trading as your strategy, and I don't regret choosing it. I started with a demo account there, and I can say that if you want to give trading a try in a pressure-free environment, it's a great option for you. It actually provides better trading conditions than most competitors. Also, I've never had any problems with the withdrawal, and that'snot something that every broker can provide.
Advantages: Optimal conditions for novice traders who get access to tested Expert Advisors The full package of services is available to the client regardless of his account balance Insurance of the client's funds due to the broker's participation in the investor compensation fund
Disadvantages: No
Comment: Over the past few months, I have started using bonuses to top up my account. At first, somehow I did not believe in the bonus system and refused bonuses, I thought that it would only confuse everything. Then I decided to try it anyway and, you know, I liked it. Now I'm trying to work out lots so that the bonus can be withdrawn later. This both stimulates and motivates - I began to devote more time to trading and it seems to me that the results only got better from this. You can take a bonus for each deposit. It turns out that the depot increases by one and a half times. True, the shoulder is now only up to 1:200, but I haven't taken a bigger shoulder before - it's risky to work with a shoulder of 1:1000. I thought at first that I would withdraw more often, but now I've changed my mind, it's still worth leaving a profit - the purpose of the depot is to increase.