Detailed eToro Broker Review
EToro is positioning itself as an international broker aimed at social trading of clients. It was founded in 2006. And today, over 6 million people use this social trading platform. The legal address is indicated as Cyprus. Accordingly, the company is licensed by the CySEC Cypriot regulator. This allows you to operate in many countries of Europe, Asia, the USA and the CIS. The license number is No. 109/10. According this information, you can check its relevance on your own, on the website of the regulator.
For what users value eToro platform
Over 6 million investors and traders have chosen this broker for access to a wide range of financial instruments. Among them are currency pairs, companies’ stocks, raw materials assets, and precious metals. Investors value access to a number of investment programs, as well as to the service of copying transactions.
Copy.trader is one of the embedded services in the system to the eToro broker. This program allows you to automatically copy the transactions of successful traders. To do this, it is enough to register with a broker, open a live account and select a managing trader. All transactions will be copied automatically. The choice of the source of forecasts is made according to the rating table. There you will see what profitability this or that managing trader provides.
Another opportunity to optimize your trading and investment activities is to use a special application Social trader. This is an internal development of the eToro broker. The platform is downloaded to mobile devices, Android and iOS operating systems. The functionality already includes all the basic features – trading, copying transactions, investing in portfolios and various assets. You can be an active participant in financial markets from anywhere in the world, provided you have access to the Internet.
How to register and open an account in eToro
The described broker is a large financial company that is focused on the European market. Therefore, the minimum deposit amount is as much as $ 200. No cent account is offered to customers. And note that the amount of the minimum deposit may vary, depending on the region.
There are several types of accounts:
• Corporate account.
The last type of account is corporate. It is intended for companies, organizations of various types of activities that plan to diversify their assets. The minimum deposit for a corporate account is $ 10,000.
A prerequisite for all new users is the passage of verification. This procedure is aimed at identifying the personal data of users. In particular, it will be necessary to upload scan-copies of a passport in your personal account, which will confirm all entered data. This is necessary to increase the security level of each client.
Inputs and outputs of funds are carried out by all known payment systems. Among them, Qiwi, Webmoney, PayPal, banking systems VISA and MasterCard.
Independent trading through eToro
Particularly noteworthy is the list of financial instruments for self-trading. In addition to the base currency pairs and CFDs, you can invest in stock portfolios and indices.
To learn independent trading, the company offers the services of its own Academy of trading in financial markets. You can use the educational material provided in the section for free. In particular, use expert opinions, forecasts, analytics.
Trading is possible through the eToro web platform, access to which is possible directly from the broker’s official website. Users have access to technical analysis through the use of a number of indicators and graphical tools. Use price ranges, support and resistance levels, moving averages to forecast asset price movements.
EToro Reviews from Customers
User feedback on this broker are divided into several categories. Traditionally, some of them are negative. Someone objectively writes that his account was suddenly closed under some pretext. Someone claims that the payment of funds from the deposit is delayed by weeks.
On the positive side, should be highlighted a large selection of investment programs, and the presence of a proprietary trading platform. All this allows even novice traders to try themselves in the Forex sector, invest money and automate the entire process. We recommend to start cooperation with eToro from a small deposit in order to test the company’s capabilities.