Summary About Etoro

Etoro review

This broker encourages you to work with him by allowing for a small initial deposit and by advertising spreads that begin at only two PIPS. In addition, he provides you flexibility in a quantity of locations, for example, leverage, deposit strategies and bonus payments of up to 1000$ when you first decide to open an account with him. The trading programme he provides is extremely simple and appropriate for just a few trading operations, especially those that do not demand a complicated analysis but rather those that can be defined as straightforward and “clean”. Simple traders will find all that they need in the programme whilst the much more “technical” traders will find it challenging to work with. The programme does permit you, as do some of its competitors, the possibility to examine in genuine time the circumstance concerning various currency pairs. This is facilitated by an “animation” that displays in genuine time which currency in a currency pair is “stronger” than its partner. In any event, ought to you decide to work with this broker, you will need to prepare the concerns that are essential to you in advance so that you can put them to his representative as not all of the details you need is readily available on the website.

“Demo Trading” – Yes. Unlimited. Score: 10
Initial Investment – Whilst there is no “MINI” account as such, you can open an account with a minimum deposit of 50$ and can use leverage on your transactions of at least 1:10. Score: 9
Deposits and withdrawals from your account – You have a number of on-line possibilities in addition to using a credit card to deposit funds. The process of depositing or withdrawing funds, is neither complicated nor complex. Score: 9.8
Spread – The broker states that the spread is from two PIPS and above for the main currency pairs. Because they are not fixed you will often find spreads that are more expensive than the average and that range between four – six PIPS for the main currency pairs. Score: 7
Stop Point – You should check this with the broker and if this is under all market conditions.
Leverage – Good! Flexible! You can use leverage on a transaction from 1:10 and up to 1:400. Score: 9.2
Interest – You should check with the broker if he calculates interest and in what situations.
Regulation – You should check with the broker. Score:

Trading Tools:
Technical and professional support – Is available 24 hours a day.
Literature, professional articles and on-line tools – financial news, financial diary and an animation showing which currency in a specific pair is the strongest at any specific time and by what percentage.
Trading courses – None.
Reviews and market surveys – None.
Trading alerts – None.
Traders help guide – Yes.
Range of foreign currency pairs offered – 18 foreign currency pairs are offered by the broker.

Languages – Support for 11 languages.

On-line trading room – None.
Personal coaching – None.
Bonuses, free gifts and other “goodies” – A bonus of up to 1000$ on opening a real trading account (the amount of the bonus related to the size of your initial deposit). You can receive a larger bonus if you open a VIP account. Sometimes the broker will offer incentives: a 10,000$ bonus for the most successful trader in a particular week.

Downloading trading platform – Yes, you have to install a programme on your computer.

Trading programme “friendliness” – “Lukewarm”. Does not always provide you with all the tools needed. Not always easy to work with. Score: 7

Advantages – The broker offers a relatively wide range of methods for deposits and withdrawals. Opening an account is not time consuming or complicated. You can begin trading with a small amount that is accompanied by a small leverage that is adequate and enables you to trade “for real” and then begin to progress and develop. Let’s not forget the bonus when you open an account even if this is not the factor that should make you decide whether to work with this broker or not.

Disadvantages – Basically, this is just another broker in the market. Not always suitable for all traders and for all trading methods. It is not clear if he is backed up by a regulator. The programme is OK, but not up to the highest standards.

Brokers score: 7.5

Please note: as with every business and commercial company, brokers also may, from time to time, change their offers, terms and conditions as well as the bonuses they offer their clients. Because of this, when choosing to work with a specific broker, it is worthwhile checking to see if his offers differ from those mentioned in this article.