Relatively newer to Forex, eToro is still establishing a clientele for itself. Established in 2006, eToro has shown speedy enhancement and has gained popularity online.
eToro’s headquarter is situated in British Virgin Islands, while the administrative setup is in Cyprus. Other offices have been spread in main cities worldwide (New York, Dubai, Singapore and Sydney) so as to provide easily available customer care services.
Owing to its locality (British Virgin Islands) eToro it is not associated to any renowned regulatory establishments.
Trading with eToro
eToro is ideal for new FX traders. Its streamlined software platform has been designed to be both effective and easy to use. eToro handles all FX trade for its traders.
• Minimum Deposit Amounts: Trader is required to invest minimally $50. On sign up trader is automatically entitled to a $500 bonus.
• Account Set-Up: An account can be opened online after submitting a brief form. The confirmation of application takes a maximum of two days. If approved eToro software may be downloaded and trading can begin right away.
• Demo Accounts: If trader is interested and needs reassurance that he has what it takes to trade in FX market, he can employ eToro with a practice account for free. All he needs to do is register for a practice account, download eToro and find out if it is cut out for him.
• Dealing Desk: eToro has a fully auto-dealing desk, so that brokers don’t unnecessarily affect on accounts of upcoming traders. This makes sure that the trader’s FX experience is not compromised in any way.
• Leverage Limits: eToro permit the traders to deal in over 15 currency pairs. Leverage limit ranges between 1:5 and 1:400 relying upon the currencies that he trades in using eToro. However the leverage limits are adjustable and easy to set using eToro.
• Trailing Stops: Traders on eToro are not offered trailing stops. However automatic stop loss orders can be availed.
• Trading Spreads: eToro offers fixed spreads for as low as 2 pips, but popular currencies boast the most competitive spreads. E.g. the spread for EUR/USD is mostly around 3 pips.
eToro’s FX platform and software has been made keeping in mind both experienced and amateur forex traders. Automatic dealing desk and low initial investment requirements (with an instant bonus), together with an intuitive user interface form a recipe for success.