eToro Review 2017

FairBinaryOptions Broker Certificate
  • Min. Deposit $200
  • Max. Leverage 1:400
  • Spread EUR/USD 3 pips
  • Mobile Yes
  • Platform Proprietary
  • LiveChat Yes

eToro is primarily known as a social trading platform, but it also has a CySEC licence (eToro Europe Ltd), 109/10) for brokerage services. eToro UK is licensed by the FCA (7973792). eToro is a global social trading powerhouse that operates with 4.5 million clients from over 170 countries. The size of their customer base also ensures that when it comes to social trading, traders have the deepest pool of amazing talents to copy trades from. Along with simple copy trading, etoro offers auto trading by following other trader’s steps daily. Along with social trading features, eToro also has so called CopyFunds which are more similar to investment products than trading products, focusing on longer term than just on day-to-day trading. To read more about their services and trading conditions, read the rest of our eToro review.

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  1. eToro Account Features

    So imagine you are just starting to trade. You don’t know much about markets and finance. Generally, putting money on financial markets may not be the best choice for you. Especially leveraged products are dangerous for someone who does not understand the risks. But what if you could take a peek at what other traders, the ones with more experience are doing? Well this is what eToro enables you to do, and much more. With eToro social trading platform, traders can see the trading statistics of other traders. They can even see their trades…and they can choose to copy their trades! So if for any reason you are not able to place trades on your own, you can find someone who does it better, or faster or with more success and copy those trades from that person.

    Traders who want to trade for themselves can do so with eToro, their platform is not just created for social trading – read more about it in the Software section of our eToro review

    Trading conditions with eToro are on par with average broker in the industry. Traders who prefer trading Forex will be able to enjoy leverage from up to 1:400 while the max leverage for other assets is listed below:

    • stocks: up to 1:10
    • ETFs: up to 1:5
    • Commodities: up to 1:100
    • Cryptocurrencies: no leverage

    eToro Demo Account

    All features of eToro can be tested in a demo account with $100,000 in virtual money. The demo account is not immediately offered, however, when you register with etoro, you get ccess to the platform immediately. There, under the profile info in the top left corner is a small switch where one can select “real portfolio” or “virtual portfolio”.  Real portfolio is default, however, once its changed to “virtual” the access to the demo with virtual $100,000 is granted and it is easily to switch back any time – even run bot accounts one with another.

  2. eToro Trading Software

    eToro has developed their own platform that is used by all their customers. This platform enables several ways of handling one’s portfolios, with the centre being the copy trading function. As mentioned before, traders can either trade for themselves, copy or use one of the copy funds.

    eToro Trading – Auto Copy People with the CopyTrader

    When logging into eToro, on the side, one needs to select “Copy People” to see the lists of best investors or top trending investors one can copy trades from. The interface will offer important statistics as overall return he has managed to achieve in the last 12 months. Als ot he number of other people using them will be included (number of copiers) and the change in copiers in the last 7 days.  There is also a risk indicator. Clicking on the investor will present even more data like return through time, asset allocation of her portfolio, most successful assets and more.

    You can add each to your watch list or click on the investor and then hit copy to start copying her trades. Before copy trading starts, amount that will be allocated to that trader must be decided. The interface will also show the value of investors average trade and also let trader choose a cutoff value after which the system will stop automatically copying.

    eToro claims that the CopyTrader system has shown a success rate of 80%, and they tested 124 million trades to get that stat, which is quite impressive.

    eToro Trade Markets

    eToro Trade Markets function is basically the interface for manual trading. Its nice and playfull as is the copy trading but we did not find it very functional. While regular brokers offer MT4 or similar platforms with many charting tools, etoro trading function is lacking those. Small benefit is the asset news feed where newest info and recommendations are displayed, but overall, its better for an occasional trade, definitely not day to day trading.

    eToro CopyFunds

    eToro CopyFunds are instruments that can be traded as any other. The idea is to bound together potential of best investors on the platform and create a vehicle that will generate returns in long term by being constantly calibrated for optimum performance. Since it is diversified it carries less risk than trading individual assets. There are market CopyFunds, TopTrader CopyFunds, PartnerCopyFunds… so take your picl

    Popular Investor Program

    In case you are an experienced investor, then you can offer your services to others over eToro – others can copy you and you can earn spred rebates and percentage of assets you are managing for others.

    Traders might find useful to know how the stats on eToro are calculated. There are 5 factors that are taken into concern:

    eToro Assets

    Assets that can be traded on eToro platform are indices, currencies, commodities, stocks, ETFs. There are about

    • 45 currency pairs,
    • 12 indices
    • 7 commodities
    • 950 equities

    Etoro Cryptocurrency Exchange and Trading

    Cryptocurrencies available on eToro are:

    • Bitcoin,
    • Dash,
    • Ethereum,
    • Litecoin,
    • Ripple and
    • Ethereum Classic.

    Amazing thing about eToro is that customers actually own the cryptocurrency when they go long instead of just trading it as an underlying asset with a CFDs! This means that eToro does not offer leverged cryptocurrencies trading based on derivatives, but true exchange and trading opportunity.

    To find out more about the difference between cryptocurrencies traidng and exchanges, read our cryptocurrencies guide.

    Other than the webtrader, eToro also includes iOS and Android app.

    Your capital is at risk
  3. eToro Support Information

    Etoro has a very good FAQ and this is where most traders should start in case they have questions. In case they still cannot fix their issue, there is a very convenient live chat window in the bottom left corner of the website. The support is available 24/5. In total the website is translated into 10 languages:

    • German
    • Italian
    • Spanish
    • French
    • Russian
    • Chinese
    • Polish
    • Arabic
    • Dutch
    Your capital is at risk
  4. eToro Payment Methods

    Depositing on eToro

    eToro offers many options to deposit. The minimum deposit is only $200 which is less than many brokers require, especially if they also offer the mirror trading function as they like to call copy trading.

    Deposit can be made with

    • MasterCard
    • Maestro
    • Visa
    • Diners
    • PayPal
    • bank wire
    • UnionPay
    • Skrill
    • Neteller

    Deposit button is placed on the bottom of the menu on the left side of the trading interface. The entire process is very simple to do, as obligatory fields show up in pop-up form. It is important to keep in mind that some methods, like bank wire, are slower than others, like e-wallets.

  5. Your capital is at risk
eToro Ltd
eToro is regulated by CySeceToro
is regulated by
CySec
Reg no.: 109/10

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