eToro Review – Actual User Comments & Feedback
|Ease of Use:|
Of the many factors involved in trading the forex market, there are two key criteria that can make or break your success. One is your actual trading strategy, and the other is the platform chosen to make the trades.
eToro’s forex trading platform offers a number of ways to help traders successfully trade their way to profit. With its ease of use, combined with the ultimate trading power it possesses, eToro allows for both a short learning curve for new traders as well as a fast road to placing and profiting from trades for more advanced users.
What Does eToro Offer for Traders?
eToro’s trading platform gives traders easy and fast access to the financial markets. In fact, over 1.5 million users have chosen eToro as their preferred method. With its simplistic website, eToro allows for all users to easily understand all of the available options to get traders on their way to their forex trading goals.
Other features include:
- Follow and Copy Experts. Traders can follow the pros by finding the best traders in the network and then copying what they do!
- Social Trading. eToro users can benefit from the collective trading wisdom of more 1.5 million users.
- Responsible Trading. Because new traders often don’t fully understand the possible forex trading risks, they can have their losses limited via pre-set leverage settings to help them trade more responsibly.
- Simple Trading Platforms. The trading platforms offered through eToro allow for fast and easy access to the forex market.
- Guru Trading Program. Traders have the option of becoming a “Guru” trader. This allows them to become recognized as an expert in the field, and gives them the opportunity to share their expertise with thousands of other traders in order to build a large following.
- Free News, Tools, and More. eToro provides traders with a wealth of free education and information in order to keep traders informed of procedures as well as current market conditions. This includes regular market reviews offering in-depth insight on economic conditions and other factors that can affect trading.
eToro Education & Support
eToro offers traders a great deal of personal service with a number of ways to be contacted 24 hours per day, 7 days per week – including via phone, email, or online chat. In addition, eToro’s website can be viewed in 17 different languages, making it even more user friendly for traders worldwide.
|Independently Rated As:||
Etoro at a Glance
|General Trading Features|
|Minimum Transaction Size||1000 Units|
|Non-currency Forex Products||Commodities|
|Currencies Traded||All Major|
|Spreads||From 2 pips|
|Commissions & Charges|
|Commission free trading?|
|Commission free deposits & withdrawals?|
|Unique Trading Features|
|Accepted currencies for deposits||US Dollars (USD), Euros (EUR), British Pounds (GBP)|
|Base account currencies||All Major|
|Stop Loss executed exactly on rate||Yes|
|Customer Access||24X7 Web Access… Live Customer Support Monday till Friday between 06:00 and 22:00 GMT|
|Normal Trading Hours||Trading closes at Friday, 21:00 GMT and re-opens on Sunday, 22:00 GMT|
|Trading outside normal trading hours||eToro enables you to continue practicing your trading skills on virtual money even if markets are closed or inactive.|
|24 x 7 Access|
|Customer Support||Via Phone, Email and Online Chat|
|Ease of Use||Very User Friendly|
|Website Languages||17 including English, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, German|
|Live Training||Personal Account Manager|
|Deposits & Withdrawals|
|Commission on profit withdrawals||None|
|Fund withdrawals to credit-card account|
|Deposit Facilities||Credit Card, PayPal, Moneybookers, Neteller, Western Union, MoneyGram, Wire Transfer, By phone|
|Data Security & Handling|
The Upside & The Downside
As with any popular products, there are certainly both pros and cons, depending upon what types of features and results you are looking for. In a nutshell, eToro has very few downsides, but in summary, the key advantages seem to far outweigh any of the disadvantages.
- Low minimum account opening and trading amounts
- Low spreads
- Instant execution of orders
- Excellent education and training
- Pre-set leverage limits for new traders, allowing for limited potential losses
- Traders can set their own technical indicators
- A variety of payment options
- No deposit is required to get started
- Free practice accounts with real time trades
- New trader bonuses
- Currently no mobile trading interface
- Not all live customer support options are available 24/7
What Are Traders Saying About eToro?
If you really want a good feel for how the platform works, you can go straight to the source – actual traders who are using the product and finding out for themselves how it can benefit them in their forex trading activity.
So what are traders saying about eToro?
“eToro is a useful platform for the beginners and not only. It is a pity I didn’t find it 2 years ago when I learned about Forex – it is a good place to learn trading. For the experienced traders they have an expert mode with a lot of different features. It is a fun and simple trading solution for any trader.”
Darcy, eToro user.
“eToro is an innovative Forex trading platform that attempts to simplify the process of buying one currency and selling for another for users.”
User Comment from forexfinder.net
“Being one of the leaders in forex trading, you can be assured this is a reliable and trusted site.”
User Comment from yahoo answers.
The Bottom Line
Whether for a new or advanced trader, eToro is one of the most user friendly forex trading platforms available on the market today. The easy to use tools, coupled with available support – and the ability to copy more advanced and successful traders – can get novice or pro up to speed in no time.
In addition, eToro offers other unique features such as the social trading arena. With all of its offerings and the ease of use, eToro is a forex trading platform that should definitely be considered – regardless of trading level or experience.
Please comment below and tell us your real user experiences.