eToro RevieweToro is a new and innovative firm that offers its more than 50000 clients from all parts of the world an innovative and even fun approach to trading. The American branch of the firm, eToroUSA is an online platform operated by Tradonomi LLC that was established for the purpose of introducing prospective traders to U.S. regulated brokers. Tradonomi LLC. is registered with the CFTC and is a member of NFA (ID:0382918).
Unique Features of Trading with eToroThe eToro forex trading platform is designed for traders with little or no experience in trading currencies. eToro’s website states explicitly that the company aims to specialize in the retail section of the forex market. Thus the firm offers the best tools for facilitating the new career of the beginning trader with the most accommodating and user-friendly approach. The eToro philosophy has the goal of connecting the international world of finance and currency trading with the retail trader at the most basic level.
Account TypesSince many beginning traders have little understanding of the forex market, in order to help its clients manage risks better, eToro requires a very low $50 minimum for account deposits, with leverage options beginning at at 1:10 and reaching to 1:400.
Deposits and withdrawalseToro is very flexible about client deposits. MoneyGram, WesternUnion, Neteller, PayPal, WebMoney are accepted channels for account funding , along with the standard credit card deposits and wire transfers. The minimum deposit with a credit card, PayPal, Neteller, WebMoney or Moneybookers account is $50, and it is $500 with WesternUnion, MoneyGram, and wire transfers. The eToro website offers extensive help and guidance on client deposits. Withdrawal of funds is equally easy, and the filling and submittal of an online form is the only necessity.
Trading PlatformeToro’s trading platform is the most unique in the forex universe. The game like interface, currencies that run marathons, pull ropes or wrestle with each other, the cowboys and sumo wrestlers who fight as your trades move into the red or black, all bring a whole new experience of entertainment and excitement to currency trading. We all know that stress is one of the vicious enemies of a trader; eToro aims to eliminate, or at least reduce the stressful aspect of currency trading with this innovative approach to trading. In order to avoid overwhelming a beginning trader with a vast array of charts and tools for which he will have little use, eToro’s platform is kept clean and clear, with only the most important data displayed to help the trader evaluate market developments better. The most important feature of the eToro forex platform is its user-friendliness: an uncluttered screen helps the trader focus on the price action itself while using low leverage and risking little, until he is able interpret the numerous conflicting signals generated by the bulky technical packages offered by other firms. The trading platform is updated regularly, as the firm is committed to bringing the retail forex community the most satisfying experience through the most up-to-date software in the market. Finally, to ensure that the trader doesn’t suffer unexpected large losses due to neglect or anxiety, the platform will automatically enter a stop-loss order on any new trade that is ordered.
Beginner’s EducationeToro is committed to bringing the easiest and most rewarding forex trading experience to beginners. As such, it offers numerous online tutorials, trading guides, along with the usual demo account. Since eToro is also a community with an active online trading forum, with features public and private chat opportunities, along with extensive networking capabilities, the beginning trader will have more than enough choices for the tools he will use to better his skills. The support staff, forums, and numerous online guides and tutorials contribute to a quicker learning period for the beginner. Since the firm’s stated purpose is to help the beginners get used to trading with the shortest and lightest trouble, there is a wide array of tools with which the beginner can improve his trading skills.
Security and PrivacyTo ensure the safety of customer funds, eToro uses industry standard Secure Socket Layering (SSL) technology for encryption of data. eToro doesn’t share crdit history, net worth, or other related income data with any other institution. Operated by leading online forex brokers, the technical staff who develop and innovate on the eToro platform is committed to bringing you the best spreads with the most precise and timely trade executions.
ConclusioneToro is certainly one of the best offers in the market for the beginning trader. Flexible leverage options, a very low minimum deposit requirement all ensure that the inevitable failures of the beginner can be accommodated without suffering. The user-friendly, fun, and exciting presentation of the eToro trading software may reduce the stress that you’ll suffer as you get used to trading. It’s hard to laugh when your trading strategy or method is proven to be wrong, but with eToro, you’ll always be able to take it easy, just as you should. As the emotional burden of trading is reduced, the beginning trader can concentrate on honing his skills, and refining his methods: there’s no other approach out there that will contribute more to this aspect of your career. Obviously, an experienced trader will have less need of some of the most striking advantages offered by eToro. Still, even the seasoned traders should give eToro a chance to help alleviate the stress of trading: a light attitude, and good humor are always good in life, whether you’re a retail trader of forex, or a trader of the fortunes of humanity, like the US President.
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