The eToro was founded in 2006 in Israel by two brothers Yoni and Ronen Assia. and made quite a stir in the world of investment and Forex trading. Now it's one of the best-known brokers in the trading realm.
The initial fame and world-wide recognition came from the sponsorship deals and smart advertising now it's often the first platform for new Forex traders and trading heavily associated with eToro for them thought their career whatever platforms and traders they pick after.
Nowadays, eToro headquarter located in London but 5 million customer base spread all over the world, with clients in more than 160 countries. The numbers quite clearly show that it's one of the biggest brokers to this day.
Such wide geography implies that the eToro broker functions under the oversight of lots of monetary regulators. In addition to that eToro is supported by MiFID (Markets in Financial Instruments Directive).
As for the trading on the eToro platform itself, the website has a very unique look which makes it distinctive from the competitors. It's very beginner-friendly and intuitively easy to use.
In addition to a huge number of celebrated features, the copy-trading is one of the trademarks. It functions quite simply though- customers can just copy bids of the traders they follow. It's great not only because aspiring traders significantly lower their risks, but because it allows learning directly "on-field" so to say. This leads to educational programs that are of the best quality and not limited to guides, articles, lessons, and books but incorporate the trading community where you'll always find a shoulder and advice.
The demo-account is full-functional with all the tools the platform offers so you can get used to it with absolutely zero risks attached.
Unique Features eToro offers
The most prised feature eToro possesses is the financial community already mentioned above. Also, quite recently eToro united its two trading platforms OpenBook and WebTrader into one that gives access to a stunning number of trader tools and services available on all types of devices.
All honest reviews about etoro broker here.
The minimum first deposit depends on the country of residence of a customer. It ranges from $200 to $1,000. EToro allows testing the platform with an initial deposit of $100,000 in virtual currency - no financial obligations attached. Islamic account with a deposit of $1,000 and Halal trading is available as well.
Instead of fees on trades eToro broker slightly widens the spread. It's two pips for USD/JPY and three for USD/CAD, EUR/USD, USD/CHF. For AUD/USD, GBP/USD the spread is four pips. Finally, USD/RUB is five pips. For some pairs, it can reach 20 pips, for BTC it's notable 225 pips.
eToro is a forex broker for traders who appreciate networking activities and can profit from it. It's simple for beginners, available on smartphones for trading everywhere. The only drawback we can think of is a five-day withdrawal which is quite significant in comparison to other brokers that offer near-instant withdrawal.
But all things considered, it's highly recommended for everyone.