Always developing Forex market offers a truly big number of brokers welcoming newbies and experienced traders alike. Even though there are plenty of good Forex brokers to choose from, most of them are very similar in terms of what they offer. For that reason, many will find this eToro Forex broker review quite refreshing.
Although relatively new on the market, eToro has managed to attract more than five million traders from all over the world. What makes this company stand out from the rest of the crowd is the fact they managed to insert entertaining elements into otherwise quite stressful and often dull Forex trading environment.
This Forex broker is regulated by several reputable organizations, including ASIC, CySec, and the FCA.
Although the platform offers a full access to the Forex market, this eToro review will aim to also explain what is so different about this provider. Even on their official webpage, the company explains that their primary goal is actually connecting traders from all over the world into a strong community helping and supporting each other.
They take special pride in their unique eToro OpenBook trading app, which was designed in such a fashion as to facilitate sharing information and keeping up with actions of other traders. Everyone can then use this information and benefit from it, placing successful and profitable trades.
Intuitive & User-friendly eToro Trading Platform
Going in line with their overall vision for the Forex market, eToro has developed a rather unique trading platform that offers a relaxed, game-like experience. The trading platform provides insights into decisions made by other traders, and it is very easy to see the direction that the majority is taking and follow in their footsteps. You can even copy specific traders that you like the best quickly and simply using CopyTrader.
The eToro mobile app is also available for various devices and it lets you trade regardless of where you happen to be. The eTrader trading app offers some really cool options to make your life easier. For example, you can set the app in such a way as to prevent your phone from hibernating while there are active open trades. It is not uncommon that you have to make a quick decision and with your phone going to “sleep,” you could easily miss the window of opportunity.
For those looking to widen their scope of activities, eToro Forex broker does also offer an option of trading stocks. Do be advised that trading stocks is somewhat more complicated and if you are looking to get into the game, make sure to first get as much information as possible.
eToro Account Types
eToro Forex broker offers a completely free Demo account to get you started. This is well aligned with the general policy of the company of making Forex trading fun and interesting. The account comes with $10,000 in virtual cash that you can use to make your first trades and evaluate your results.
When it comes to real money accounts, there are four basic types:
- Bronze: minimum deposit of $50, scalping is allowed, and minimum spread is 3 pips
- Silver: minimum deposit of $1,000, a few extra perks in comparison to the Bronze account
- Gold: minimum deposit of $5,000 is required
- VIP: minimum deposit of $20,000
Apart from these four account types, eToro has also recently introduced a special Premium Club which comes with special eToro bonuses, personal Payoneer card for quick withdrawals, a personal account manager to help you with your trading efforts and more. You can become a part of the Premium Club through your net deposits throughout the year or based on your daily equity.
eToro also offers Islamic accounts for traders who observe Sharia laws.
Not surprisingly, eToro offers a variety of options to fund your account or request a withdrawal. Available methods include:
- Major credit cards (MasterCard, Visa)
- E-wallets (Neteller, Skrill, Paypal)
- Wire transfers
eToro bonuses are also made available depending on the type of the account you opt for. A welcome bonus can go as high as $10,000 for big investors.
Being primarily a social network for traders, eToro offers numerous resources for new and experienced traders, from their FAQ section to the education center and forums.
On top of all that, a friendly customer support is always a click or a phone call away. You can reach out to them with any and all questions via email, Live Chat, or telephone, and expect to be treated well and have your concerns removed.
Conclusion: eToro Makes Forex Trading Fun
As you can see from this eToro Forex broker review, the site strives to make Forex trading fun and appealing to everyone, not just hardcore traders. With their social tools and friendly community, you are likely to feel welcome here regardless of your experience level.
The eToro mobile app will make sure you are always up to date with your trades and generous eToro bonuses will help you grow that bankroll even faster.
Combining a powerful software platform with a trading network allowing you to share information and follow successful traders will make your transition into the world of Forex trading much easier and more enjoyable.
eToro truly delivers on its promise of turning Forex trading into a fun, relaxing activity, and if you don’t believe this eToro review, feel free to check it out for yourself. Remember, you can do so completely free of charge, using the Demo account.
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