Etoro Forex Review

Overview:

So you’ve heard about trading Forex at home and the potential to earn big, but have you ever wondered how you can participate in this market and but no idea how to begin? Or have you already decided to be an online trader but still didn’t know which online Forex trading platform to use?

If you answered yes to these questions, then this review of the Forex platform called eToro might just be the key to get you started.

Every job or opportunity has to begin with knowing the basics.  As you may or may not know, the Forex market, or otherwise known as the currency market, has become the largest financial market in the world.  As it grows, so does the number of people wanting to get in to this industry.  But you’ll need a good grasp of how things work, what tools you’ll need, what risks are  involved, and a whole lot more information to become successful and to achieve your desired results.  EToro is here to give you exactly that, and can definitely help you become one of the seasoned traders out there.

Etoro Platform, Tools & Features:

The eToro trading platform has been rated as one of the top online trading platforms available.  It has won “Most Innovative Trading Platform 2010” award.   It’s designed to be very user-friendly for beginner traders, with or without any experience in this industry.  It has two available formats, one of which you can download over the internet, and a Web based environment.  The eToro platform provides new traders with all the information and tools that will make understanding and trading forex an easy task.  Tools such as guided tutorials, trading e-guide, a glossary, and real time information about the exchange rates of different currencies, are readily available for account holders to use.  But even with all this information, one still has to learn how to actually use the platform and put the knowledge into good use.  EToro gives users unlimited number of hours to practice and get a feel of how trading actually works.  This allows the new traders to experience trading, helps them get a good feel of the platform and the trading action, while minimizing the risking of losing real money.  “Practice makes perfect”, as what we’ve all heard before, is also what eToro wants for its new traders.  And to show how eToro supports this, they also offer weekly practice championships among members.  The winners of these weekly practice trading championships will receive cash prices.

Now even with the free education, tools, and with the unlimited practice time available; there may still be situations when you would still need to ask for advice from the professionals.  EToro has a 24/7 customer service line and support, available in 8 different languages: English, German, Spanish, Russian, Arabic, Chinese, Italian, and French. EToro also offers Islamic account terms.   Additional support tools available are over-the-phone live training and online chat.

EToro has also just launched the eToro Openbook application.  It is essentially a social trading network, where you can learn and follow expert traders, learn from their strategies and techniques, and eventually become successful as well.  This feature is unique only to eToro and not available to any other online Forex platforms.

Etoro Bonus:

EToro also offers a very attractive bonus to its new users.   Beginners receive a bonus of up to $1000 on their first deposit.  And for as low as $50, users can begin trading live.  Here’s how the bonus works:

1st deposit of $100 – $399 gets you $25 bonus
1st deposit of $400 – $999 gets you $100 bonus
1st deposit of $1,000 – $4,999 gets you $250 bonus
1st deposit of $5,000 – $9,999 gets you $500 bonus
1st deposit of $10,000 or more gets you $1,000 bonus

EToro offers low spreads, going down to only 2 pips on the EUR/USD currency pair.  Leverage is another important factor to consider in Forex, and is something that traders should consider.  Leverage has the potential to make you earn big, but it also gives the risk of losing even bigger.  At eToro, leverage starts at 50:1, and goes up to 400:1.

For the expert traders, eToro also provides an innovative interface.  The Expert mode features one-click trading, allowing activation of the trade in one simple click in the currency of choice.  The Expert mode also features charts, trade history, news and calendar events. All the useful information is available within the platform itself.

Etoro Deposit Methods:

Funding your account with eToro is simple, with a variety of familiar methods to choose from.  Users can fund their account using their credit card, PayPal, Neteller, Western Union, MoneyGram, Webmoney, or wire transfer.

Final Thoughts About Etoro:

To summarize, eToro is here to help new and eager traders to start and make it big for themselves.  With all the free education, training, tools, and support eToro provides, it’s only a matter of time when beginner traders can and will become very successful in the Forex market.

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