eToro

The FX broker is home to a large social network of traders. Features such as CopyTrader and the social newsfeed make it easy for investors to share their strategies, experiences, and pearls of trading wisdom.

eToro has achieved a lot over the course of years, and some of its achievements are as follows:

Is eToro Reliable?

eToro offers its online brokering services under three licenses, granted by the following regulatory bodies:

These regulatory bodies require the forex broker to maintain the highest industry standards. Customers can, therefore, expect a secure and reliable brokering service.

Getting Started at eToro – Brief Guide

Getting started at this forex broker is as simple as clicking on the green Sign Up button at the top right of the homepage. This opens a simple online registration form, which prompts new users to input their names, phone numbers, and email addresses, and create a username and password. Finally, they have to click on the blue Create Account link to create their new trading account. Traders can also sign up through Google or Facebook.

Traders can become either retail clients or professional clients of eToro.

Retail clients gain access to all trading assets. They can either copy trades or trade manually. Despite the restricted leverage of a retail account, traders get margin closeout restrictions and negative balance protection. They are also covered by the Investor Compensation Fund (ICF).

Traders can become professional clients only after they have passed a suitability test.

Professional accounts have no leverage restrictions and holders can enjoy high leverage trading and negative balance protection.

Assets to Trade On

The online trading service offers trading on hundreds of instruments across six classes of assets:

Market Hours & Fees

eToro advises traders to check the relevant trading hours as breaks in trading can cause gaps in opening and closing prices. It charges fees generated from spreads when the position is closed. The spread varies according to market liquidity and conditions. Sometimes, market conditions can result in spreads widening far beyond those displayed currently on the website.

Market conditions can also result in changes in fees; so traders should visit the website regularly to get the updates. Market liquidity can cause changes in trading hours. The broker either disables trading or delays market opening in case of deficient liquidity or the market closing early.

Social Trading with CopyTrader™ – How It Works

eToro uses the experience and knowledge of experienced traders from different parts of the world to create social trading tools such as CopyTrader and CopyPortfolios. Traders are free to become followers or leaders. Or, they can trade independently.

Here are the main features of the social trading platform:

CopyPortfolios – How They Work

As Yoni Assia, the founder and CEO of eToro, puts it, CopyPortfolios is “like having thousands of traders, all working for you.”

You can choose from two varieties of CopyPortfolios:

1. Market Portfolios – These are portfolios of commodities, ETFs, and CFD stocks that fall under a selected trading strategy.
2. Top Trader Portfolios – These portfolios comprise trading experts who generate the most returns on eToro.

The aim of CopyPortfolios is to promote growth, take copy trading to a revolutionary level, create diversified investments, and minimize risks. Getting started with CopyPortfolios is as simple as selecting a CopyPortfolio that best suits your trading strategy, inputting the amount that you want to invest on it, and clicking on the Invest button.

The broker’s investment committee now manages your invested funds in a professional manner. It continuously analyses the performance of each CopyPortfolio and updates it automatically so that it can deliver the highest returns.

Trading Academy – Learn about Trading Online

The Trading Academy at eToro provides information and education to beginners as well as professional traders. The academy includes an education center with a wide range of learning tools such as webinars, guides, videos, tutorials, and much more. Beginners can use this information to gain a better understanding of social trading and make informed trading decisions.

You will find the following at the Training Academy:

Banking Information – How to Deposit and Withdraw

Making deposits into your trading account is safe and secure as eToro uses the latest SSL digital encryption technology. You can choose from the following banking methods:

eToro takes up to 24 hours to process withdrawal requests, but the time taken for the funds to reach player accounts varies from one payment method to the other. The broker also charges withdrawal processing fees and displays the exact fee after traders have input their withdrawal amount.

How to Get Help

The company offers customer support 24/5 from Monday to Friday. Customers can make a corporate inquiry by writing to eToro (UK) Limited, eToro Worldwide Broker and Service Center, eToro AUS, and eToro USA LLC.

New traders who have not yet signed up at eToro can visit the Help Center to find answers to commonly asked questions on banking, copy trading, community, account verification, and others at the Help Center. Existing users have to sign in to their trading accounts before they can contact a customer support agent.

Conclusion

eToro is an online trading platform with a different because of the social elements it has incorporated into its software. Features such as CopyTrader, rewards for popular investors, newsfeed, and CopyPortfolios actually help traders learn more about trading and make successful trades. Since it is home to over six million satisfied traders, we could hardly find any negative reviews about this online brokering service.