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EToro is one of the most well known forex brokers online. Founded in 2007 on the British Virgin islands, eToro’s reputation has grown and earned them a place amongst the top Forex brokers online. Where many people and brokers have seen forex trading as a individual activity, eToro has focused on making the trading game social.
EToro has integrated a social platform in which it’s users can share trading tips, copy each others trades and build somewhat of a community. This is something that can’t be found anywhere else, and already has it received a lot of attention from the public. Think of it as a social network, like Facebook or Linkedin, but focused on forex trading. One of the two main platforms is the eToro
OpenBook, which is the platform that the social trader will want to use. This platform needs to be downloaded, and once installed on the computer, the investor can not only start trading, but are also presented with commentaries and tips from other users in the community.
eToro offers some great promotions for new traders, offering up to 10% bonus on your first deposit. There are three types of accounts: Practice, Basic and Premium. The practice acount is a great way for new traders to learn the game, the basic account is for hobby traders and has some great features, but for the real advanced traders, the Premium account will offer the most perks and promotions.
Regarding the design of eToro website and trading software, it’s clear that they have put a lot of effort in to making it as user friendly as possible. Instead of trying to make the website look fancy and advanced, they have come up with a basic design that still looks great. You are not likely to get lost when you’re looking for something, and the extensive FAQ will likely solve most of the basic problems you might encounter.
This is a great asset, as we all now that the currency market is always changing, so it’s important to be flexible and keep check on what’s going on.
We think eToro is a great alternative both for new and experienced traders. The social networking makes it a trading experience hard to find elsewhere, so it’s definitely worth a try.
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