Company overview
eToro is a company that has combined with various others to offer a unique trading interface for beginners. The company was established in 2006 in Cyprus with the express purpose of making Forex trading simple and fun. They use the services of RetailFX, FX Solutions in the USA, Australian based International Capital Markets and others in partnership to fulfil the trades, and the brokers used are regulated in their appropriate regions.
Available Platforms
The basis of eToro’s approach is a unique trading interface that provides several methods to place a trade, each of them appearing like a video game. The currencies can run a marathon, or you can see a map of the world with graphical links for the trades that you take. While some may say that the business of Forex trading, with the potential for real money losses, is trivialized by these graphics, it certainly appeals to the novice and makes the process easily understandable.
In addition to making trading fun, the platform includes a live forum between users, a trading challenge and statistics showing what the current popular trades are. As the platform is so different from the usual, if you are in the least interested you would be advised to try out a demo account.
Account Types
eToro offers accounts starting at $50, with trades starting at $2.50 and a selectable range of leverage up to 400 to 1. These lowest values are in keeping with the philosophy of making trading readily available to the beginner so that they can learn without too much pain.
| Account Name | Bronze | Silver | Gold | VIP | ||
|---|---|---|---|---|---|---|
| Initial Deposit | $100-$399 | $400-$999 | $1000-$4999 | $5000-$9999 | $10000-$19999 | $20000+ |
| Bonus | $25 | $100 | $250 | $500 | $1000 | Neg. |
These different accounts receive a variety of benefits too numerous mention here, but notable features are a bonus of 15% on your first deposit each month if you are a VIP, or 10% with the Gold account. You are required to complete a certain volume of regular trading in order to keep your account status, however.
Support
eToro gives live customer support 16 hours per day during the working week. All other forms of communication are also supported, and depending on your level of account you get personal advice, training, and service.
Even without a qualified account, eToro provides plenty of information, trading guidance and regular market news.
Summary
- √ No commissions.
- √ Well capitalized.
- √ Unique easy platform.
- √ Worldwide offices with local regulation.
- x Live help not 24 hours.
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