Etoro

Etoro

Pros

  • No commission on trades
  • Has guaranteed stop losses & limit orders
  • Allows one click trades
  • Allows automated trading

Cons

  • Inactivity fee after 12 months inactivity
  • Does not allow scalping
  • Does not have direct market access

Overview

Introduction:

Based in Limassol, Cyprus, eToro was founded in 2007 and is regulated by CySEC and the FCA. Their award-winning platform, eToro platform was named the most innovative forex trading platform by World Finance Magazine in 2010.

eToro platform enables users to view, share, and even copy their chosen trader’s moves in real-time. By enabling traders to follow and interact with each other, it breaks barriers between traders, accelerates knowledge sharing and shortens the learning curve for users that want to bring their forex trading experience to the next level.

Deposits accepted by Credit Card (Visa, MasterCard, Diners), PayPal, Neteller, Skrill, WebMoney, Wire Transfer, Western Union, MoneyGram.

Withdrawals can be made through Credit Card, PayPal, Moneybookers, WebMoney, Neteller, Western Union/MoneyGram, Bank transfer.

There is a withdrawal processing fee depending on the requested amount and withdrawals can take up to 5 business days.

eToro does not charge any commissions or fees on forex trades. Their revenues come strictly from the spreads (the difference between the Ask and the Bid prices of a currency pair) which are exceptionally low.

Live Customer Support Monday through Friday between 06:00 and 22:00 GMT. Email, chat and Freephone number, as well as customer service phone numbers, are available. Open Sunday 21:00 GMT, Closing Friday 20:00 GMT

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Company Headquarters Cyprus
Jurisdiction CySEC and the FCA
Support Telephone Number +44 (0) 203 150 0308
Support Type Email, Chat, free call
Trading Platform eToro platform
Minimum Deposit $200
Minimum Trade Size $25
Maximum Trade Size 20% of account amount
Founded 2007
Currencies
Mobile Yes
Tablet Yes
Bonus amount No Bonuses
Demo account Yes
Assets Forex, Metals, Commodities, Indices, Stocks, ETFs
Commissions None