Founded in 2007, eToro is the world’s leading social trading platform. During its inception, eToro’s founders set out to create an online trading platform that is accessible to the masses, while keeping its professional and ethical values. With over 1,000 assets across five categories (commodities, stocks, currencies, indices and ETFs), and diverse social elements, it is no wonder that tens of thousands of traders worldwide choose eToro as their trading platform.
eToro’s platform places high emphasis on usability, and has made great efforts to make its platform intuitive, and streamline the online trading process. The company offers Forex services, and trading of other assets via CFDs. The platform displays great amounts of information, both regarding its various instruments and on its users, so traders can have a lot of data to use when making their investment decisions. Since some traders need access to their accounts 24/7, eToro’s mobile app is based on the same principle of accessibility, and features an intuitive interface.
Social Trading With eToro's Openbook
When it comes to social trading, eToro is a pioneering platform, with an array of features and services that lean on the fact that it has so many clients. At first, eToro was composed of two separate platforms: Webtrader, which was a straightforward manual-trading platform and OpenBook. OpenBook, a social trading platform, was introduced back in 2010 (and has since been integrated into the platform). As both platforms were merged since, the social element has become one of eToro’s key aspects, enabling users to interact, follow one-another and copy other traders. A basic principle of the platform is giving users enough access to information, to make sure they make educated investment decisions. On top of the easy-to-understand charts, and daily financial newsletter, the social elements of the platform allows clients to learn from each other.
Following the best traders to profit
The Copy Trading feature enables clients to invest some of their funds into another trader’s portfolio. Since eToro works in full transparency, each trader’s portfolio, track record and risk score are available for other users to see, so they have all the information they need to make their decision. Copy Trading is an excellent tool for people who want to invest online, yet don’t always have the time to constantly check recent developments in the market and actively monitor their portfolio. Additionally, by following and copying other traders, users can expand their understanding of the market and get a better idea of the trading style they wish to adapt.
The Popular Investor (Guru) Program
Another feature which makes eToro unique is its Popular Investor program. When a certain investor has enough copiers on eToro, they receive Popular Investor status, and gain certain benefits and special fees. Clients have great incentive to become Popular Investors, since they receive a monthly payment from eToro, and receive a spread rebate worth up to 100%, enabling top Popular Investors to essentially trade commission-free.
eToro holds its clients to the highest regard, providing them service in 16 languages and operating 24-hour customer service, five days a week. When it comes to regulations, eToro adheres to the highest standards, operating under the approval of both the UK’s FCA and Cyprus’ CySec.
Smart investors need to understand where and how they invest, particularly when it comes to online platforms. Our review of eToro Group, ltd. works to ensure you're given the best information prior to making a first trade.
eToro Group, ltd. is one of the largest international online investment firms in the world, serving a world wide consumer base. The firm was founded less than ten years ago in 2006, and it's based in Limassol, Cyprus. eToro Group creates and markets financial trading platforms, enabling users to trade various financial assets. But the current leadership continues to include Jonathan Assia, founder and current Chief Executive Office and Director of the firm.
Accounts are set-up according to initial deposit amounts and limits within your account.
Five different levels bring different access to customer service:
You can start with a 'Practice Account.' It allows time to become fluent in the software and user-ability of the platform with play money. When you're ready, you can trade at one of these levels:
Bronze: For less than $1,000 deposited
VIP: For more than $20,000 deposited
You're able to fund your account at the basic level for as little as $50.00, allowing anyone who wants to the ability to learn how to trade seriously. Not bad.
Commissions and Spreads
Commissions and spreads with eToro are straightforward and depend on the type of deposit. For currency instruments, spreads run between three to seven pips. Commodities run between 5 to 90 pips. Index stocks have a spread between 100 to 1,000 pips. Additionally, traders should factor in transaction fees; these can fall at about 0.1% per one cent of stock fees and 1% of every cent for Bitcoin fees.
We'd say you absolutely need to factor in and weigh currency conversion values against possible gains. Most Forex trading sites charge a fee to start, but eToro does not which makes them a popular platform.
eToro was founded by software developers. They've taken the idea of 'Open Book' financial trading and folded social media interaction and communication into it. Copying top traders and asking for tips and recommendations is encouraged here. Downloading the software is not an option as it's positioned entirely online. But the responsiveness is key and fast. Moving money back to accounts is simple and immediate.
Deposits and Withdrawals
eToro does include a lot of fees. Stay attentive to this when factoring in your gain and particularly in your withdrawal schedule. They charge about a 5% withdrawal fee and a minimum of $20.00 to do so. They make it easy to start, though, accepting almost any kind of deposit, from credit card, bank transfer and Bitcoin.
eToro has a well-rounded help center that's easy to navigate. Almost any question can be answered there and it's intuitive. Customer service really comes into play with this trading platform. First, they don't charge a fee to start and make it extremely easy to use. But the social aspect of the site is the biggest draw. Users enjoy expert accessibility and a high level of trading visibility on this platform. Not to mention there's a 24/7 support option for technical assistance.
Regulations and Safety
The platform uses current SSL encrypted technology ensuring deposits and withdrawals are safe. It also is not affected by the stability of Cyprus because all deposits go into non-Cypriot institutions.
eToro has taken care in its trading philosophy to abstain from leverage trading of stock. However, it does provide leveraging of other instruments with a 1:2 to 1:400 ratio.
Bonus and Promotion Codes
eToro offer a number of promotional codes for both premium and standard accounts. For standard accounts the current bonus codes for verified accounts are as follows:
|Deposit||Bonus Amount||Promotion Code|
|$300 - $999||100 Credits||start100|
|$1,000 - $2,499||300 Credits||start300|
|$2,500 - $5,000||1000 Credits||start1000|
|$5,000 + ||Contact eToro for details|| |
All you need to do to qualify for the bonus is sign up and verify your account. You'll be sent an email to confirm you are verified. Simply log into your account and enter the promotional code above to claim your bonus!
Bonus codes for Premium Accounts
etoro's Premium or VIP accounts are for traders who either deposit $20,000 or have $20,000 total funds in their account at the end of a trading day. Members of eToro's Popular Investor program who have reached Champion or Elite level also qualify. As well as many other great benefits, eToro provide special deposit bonuses for these privileged accounts:
Deposits of $2,500 - $19,999: 10% eToro Credit Bonus
Deposits of $25,000 - $64,999: 15% eToro Credit Bonus
Deposits of $65,000+ : Contact eToro for a unique offer
Compared to other sites, eToro's social platform and Open Book visibility is an attractive option for traders.You can make money on eToro if you use the right strategies. We'd say be careful of the fees, even though it stacks up as the least expensive platform to get started on, it can be pricey if you're not strategic about when you move money and how. Otherwise, it's one of the better Forex trading sites.