eToro Review 8.5/10
Why Use eToro
1. First deposit bonus up to $1000
2. Min. deposit $50
3. No commissions
4. Spread from 2 pips
5. Commodities
6. Webtrader.
About eToro
It's important to start this eToro review with a little bit of history. The company was founded in 2006 by 3 young professionals who wanted to challenge the dated methods and views of Forex. FX trading was an insular environment for those already operating in the financial sector. What the chaps at eToro did was make FX trading accessible to the general public. They did this by focusing on the basics.
When Money FX put the platform on trial, we found the software and navigation to be a pleasure. This is a company that fully appreciate the daunting nature of FX trading. It can be a very complicated for somebody with no financial background, knowing where to start. We know that this complexity can put people off but if you are serious about FX, eToro is focused on ease. See the simple video (Bottom of this eToro review) they have put together and judge for yourself.
Advantages of this Trading Platform
Top Traders Chart - You can see what the top eToro traders are doing. If you want to follow the market leaders, then this can be a great feature for newbie’s.
No Commissions - No Commission on all trades and no roll over fees. The initial margin is as low as $50.00.
Simplicity - For the novice trader eToro offer an easy to use and understand system. They use several mediums to express trading. For example you can make a trade and it can be displayed in a running race format. Another great way of expressing a Trade is that eToro show the major Trading Currency Nations on a map and allows you to see which countries you are trading with. For the more advanced Trader there is a platform that allows you to adjust stop loss and profit amounts. It also comes with market charts.
Customer Service
An area that stood out during the eToro review was customer service. The company have a large and professional team on hand to help you with trading questions, technology issues and financial support . They provide charge free numbers in 12 countries and are also available through live chat and email. The support team have proved very quick in the response to Money FX queries and the answers are full and spoken with experience.
Languages
eToro trading platform is available in the following languages: Chinese, Turkish, Spanish, Portuguese, German, Arabic, English, French, Russian, Italian and Japanese.
Depositing
The minimum deposit at eToro is $50 and they accept the following methods: Credit Card, Neteller, Wire Transfer, Paypal, Western Union, MoneyGram and WebMoney.
Types of Accounts
eToro provide four types of trading account to cater for all levels below we have highlighted the main benefits of each
Bronze
- Top Traders’ Insight
- Market Reports
- Unlimited practice account
- Real traders' chat room
Silver
- Monthly deposit bonus Up to $100
- Top Traders’ Insight
- Market Reports
- Unlimited practice account
- Real traders' chat room
- Personal Account Manager
Gold
- Monthly deposit bonus Up to $500
- Top Traders’ Insight
- Market Reports
- Unlimited practice account
- Real traders' chat room
- Personal Account Manager
-Trading room telephone access
- Faster withdrawals 3 days 3 days
VIP- Monthly deposit bonus Up to $2,000
- Top Traders’ Insight - Market Reports
- Unlimited practice account
- Real traders' chat room
- Personal Account Manager
- Trading room telephone access
- One on one trading sessions
- Faster withdrawals 3 days
Summary
Money FX have given the eToro review a rating of 8.5/10 . We give this based on the excellent features and support available to the FX newcomer. eToro is a great trading platform for beginners to the Forex Market.
eToro also offer plenty of incentives to their traders including bonuses and competitions. eToro are now giving customers the chance to trade on Gold and Silver. We have been told that Oil trading will be available very soon.. Click here to open a free practice account and begin trading at eToro