Perhaps the best thing about eToro is the unique trading platform which they are offering to the traders. The trading platform consists of two models. One is expert mode, and the other one is a visual mode.
Visual mode, based on Etoro Review is created when a new trader uses this platform. He uses various techniques to visualize trading techniques. All this makes a very exciting experience for the trader. In this article I will describe Etoro Webtrade and Etoro Copytrader r open book social network and give basic Etoro Review.
On the other hand, the expert mode is designed for serious and professional traders. It performs various techniques like order execution with one-click and charting features. It also brings the option of placing stop loss. Along with that, a trader can find different information like open trades, calendar, news, and other related features. Scalping isn’t allowed on the platform, but hedging is allowed.
1. Trading Platform: Trading platform of eToro is very user-friendly and everything can be used with ease. The visual mode is designed according to the mindset and approach of new traders. On the other hand, the expert mode is made for the advanced users. They have also introduced web-version of eToro which helps to trade from anywhere on the go.
2. Leverage: The maximum offered leverage is 1:400.
3. Commission: There are absolutely no commission or fees charged by eToro. The way of earning for the company is through the difference of bid and ask price.
4. Support: Live support on the phone is available from Monday to Friday. If you want further help, you can contact through email.
5. Spread: The lowest offered spread is on USD/JPY which is two pips. However, for EUR/USD, three pips are offered.
6. Deposit and Withdrawal: Withdrawal and deposits can be easily carried out with PayPal, credit cards, Wire transfer, and Western Union. The minimum amount to deposit is set to $50.
7. Practice Account: Demo account is available for the practice purpose.
8. Security: The security of eToro uses world’s world’s most secure SSL system. By this system, the data of every user is protected, and it isn’t shared with any other institution.
9. Community: One of the strongest points of eToro is their community work. Almost every week, a trading challenge is carried out, and the winner is rewarded with huge cash bonus. Through chat rooms and forums, traders can easily communicate with each other.
10. Currency Pairs: more than 16 currency pairs are allowed to trade.
11. Strategies: Forex broker and Meta trader techniques are not allowed on the eToro. However, scalping and hedging is allowed.
12. Citizenship: Along with US, various citizenships are allowed.
The best foreign exchange system for newbies – Etoro system
You can find loads of foreign exchange dealing systems online but picking out the best one to start with isn’t easy.
In this review I shall discuss Etoro’s foreign exchange system, which was said to be the most innovative dealing system in the year 2010. It provides several features and a brilliant graphical user interface to manage your dealing companies. Foreign exchange is an awesome way to make money on the internet, with brokerages pretty much anybody can begin dealing currencies.
But one of the main problems that people face is they have problems following numbers and charts. This is where Etoro’s innovative platform comes in, instead of comparing numbers you can observe how currency sets are performing just by looking at a few graphs. It’s a lot easier to decide by observing the graphs instead of calculating everything. Something important to keep in mind is that just because you’ve got the graphs it doesn’t mean you will become a foreign exchange professional overnight. You must still learn about the foreign exchange market, how different authorities’ decisions affect currency sets, when to deal and when to avoid dealing. Etoro’s system can definitely help you learn a lot faster.
Following you can find a few of Etoro’s characteristics which are extremely handy for those who are new to the world of foreign exchange. Also for your information, Etoro has won awards for the most innovative trading system, achieved by combining the best technology with the latest trends.
• Live online chat with other users: I think that this feature is perfect for newbies, you are able to talk with their peers prior to deciding. Which will definitely give you a better chance of making a profitable deal. People have discussed dealing and how the market works for quite some time, but now you’re able to take advantage of this knowledge for free.
• Ability for social networks: Etoro is one of the first systems to integrate social networking for the foreign exchange market. With Etoro’s “Openbook” you can begin tracking how successful retailers are and view their back offices and offices. This is an excellent method to earn money, even without knowing much about forex transactions. Which is awesome for those people who want to earn money.
• Ability to display operations: yet another brilliant addition for newbies, instead of starring at graphs and numbers now you’re able to compare currency sets (like letters, currency marathons and several other methods)
• User friendly interface: you can observe a shop with a simple click, see all their transactions easily and compare currency sets in the same interface. To assist you in analyze the market more effectively.
• Top dealers insight: you may observe the routes opened by top merchants and the best operations in the same interface, so you can find out which are the best performing currency sets prior to logging into your account.
• Free account for practice: you’ll get a free account for practice, with live exchange rates so you can test your tactics before trading for real.
• Learn foreign exchange: you can find foreign exchange training courses in several different languages, so you can learn the basics of foreign exchange. Also using said tactics and strategies in their own real trades.
Pros and Cons
1. A lot of support for new traders along with exclusive services for the advanced users.
2. It is providing one of the highest leverage in the industry which goes up to 1:400.
3. It is one of the biggest brands of the market.
4. Through Openbook, a trader can view other deals as well.
1. No automatic trading techniques are allowed.
2. Some users reported lag issue with their services.
The strength of eToro is their services for the novice traders. Live support with visual trading style is also very useful features. The community system makes it comfortable for the traders to share information and learn new things. Overall, the eToro is a highly recommended forex broker.
Now Etoro offers to trade using your Android Mobile Phone: