eToro is a multi-asset brokerage company and cryptocurrency exchange, known for their copy and social trading. eToro trading was founded in 2007 by Ronen Assia, Yoni Assia and David Ring. CFDs, cryptocurrency, equities, and ETFs are all available. eToro has millions of registered users and operates in over 140 countries. The company’s headquarters are in Tel Aviv-Yafo, Israel. eToro is headquartered in Cyprus and has registered offices in the United Kingdom, the United States, and Australia. The company’s valuation has increased from $800 million in 2018 to $2.5 billion in 2020. eToro is a reputable broker with top-tier regulatory oversight.
Stocks, fiat currencies, commodities, exchange-traded funds, and 15 cryptocurrencies are among the investing options available on eToro trading platform. They were one of the first internet forex brokers to introduce social trading. They were the ones that started the trend. Similar solutions are now available from a slew of competitors. eToro continues to be the market leader in this area. This is a social media-like atmosphere where users may connect and chat. You can follow folks to see how they’re doing and what instruments they’re trading with.
Following are some features of eToro trading app. This eToro review will make you understand the importance of this forex trading platform in the trading world.
Platform that is accessible over the internet
There is a web-based and a mobile platform available, but no desktop platform.
Their user interface is available in 26 different languages. In contrast to the old and sometimes obsolete platforms supplied by other forex brokers, it appears sleek and current, appealing to a young audience.
One disadvantage is that the eToro trading workspace is not adjustable, so you’ll have to get used to it as is.
App for mobile devices
Both the web platform and the mobile app provide a two-step login option, which strengthens user security. Predictive search functions are available. On their mobile devices, they allow you to browse a huge number of available securities.
Real-time market price alerts and notifications are included in both editions, and they can be given via push notifications.
Types of Orders in eToro trading
eToro trading platform offers four different sorts of orders:
- A market order is filled at the price that is stated at the time the order is submitted.
- This order establishes a maximum or minimum price at which the financial asset type should be purchased or sold.
- Stop-loss: When the price of a security exceeds a specific level, this order is executed.
- A trailing stop-loss order allows a trader to lock in profits by executing a sale of an asset only if the price falls (or rises for a short position) to a specific threshold, while remaining inactive while the price continues to move in the trader’s favour.
eToroX includes all of the capabilities found in institutional-grade exchanges. It is solely a bitcoin exchange. It’s ideal for institutional and professional traders because of this. Margin trading, APIs, quick order execution, and USD deposits are all available at eToroX.
On eToroX, there are no deposit fees.
Trading commissions are calculated using an inverted Maker-Taker model. The fees are 5 basis points per side, rather than taxing the taker and rewarding the producer.
Withdrawals and deposits for non-US clients are subject to a currency conversion fee (starting at 50 basis points).
After one year of inactivity, the price is $10 per month.
Markets and Products on eToro trading
- eToro has hundreds of investment options. There are 15 cryptocurrencies, as well as currencies, stocks, and ETFs. Different investment strategies are used to trade each asset class. eToro trading does not offer equity trading. Their investment portfolio is more than adequate. It is diverse enough to please the majority of people.
You can trade equities and cryptocurrencies directly rather than through a CFD. They support a large number of ETFs and charge no commission on US stocks and fractional shares.
Research and Technical Analysis Tools at eToro
eToro offers technical analysis in forex trading and its tools as well as expert suggestions, but it lacks fundamental data. With over 70 technical indicators and charts, the charting tools are excellent. The charting tool allows you to chart for up to 6 months. You can use these tools to compare pricing.
The economic calendar, headlines, daily market analysis series, podcasts, and earnings reports are all available through eToro trading Research.
Customer service at eToro
eToro’s customer service is adequate, although it falls short in a few areas. A live chat facility is available in the eToro help centre, however it is tucked away in the FAQ section. Traders have complained that representatives are overworked and that no one is available on weekends. Because this broker relies on support tickets sent through the interface, there is no email or phone support. Each user’s email inbox receives a response to these tickets. The response time is quick – usually within 24 hours. Although their customer service isn’t the finest, it’s adequate for dealing with simple concerns.
Is eToro trading platform a good place to invest in cryptocurrencies?
For cryptocurrency traders, eToro trading is one of the best forex brokers, with a wide portfolio of key crypto coins for those who want to concentrate on this market. There is no EU regulatory structure that oversees the trading of crypto assets.
Available cryptocurrencies include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Ripple effect (XRP)
- LiteCoin Dash (LTC)
- Ethereum Classic (ETC)
- Cardano (ADA)
- Plus 85 additional currencies.
Is eToro trading secure?
While eToro is a well-known and dependable organisation with millions of users, we examine the platforms’ security. Here are a few things to keep in mind in order to prevent becoming a victim of a scam.
eToro trading is a safe, secure, and dependable trading platform. Your money is maintained in a safe tier 1 bank. Under SSL encryption, all of your personal information is kept safe. Before trading, always check your browser window for security indicators.
eToro values your privacy and gives you full control over your account settings.
Tier-1 financial regulators, including the FCA, ASIC, CySEC, and FinCen, oversee eToro trading. Client monies are kept safe at reputable banks, and personal information is encrypted using an SSL certificate. Always keep an eye out for security.
PROS of eToro trading
- Websites and mobile apps make it simple to open an account.
- The Best Social Trading Platform for Cryptocurrency Trading.
CONS of eToro trading
- Withdrawals from CFDs and Forex can take longer than usual.
eToro review says that it is a zero-commission stock broker that is legitimate and safe. It has a user-friendly platform and a fantastic mobile trading app. eToro trading allows you to invest in equities, FX pairings, and exchange-traded funds (ETFs). It’s ideal for cryptocurrency and copy trading. Account creation is simple, and customer service is excellent. This broker has over 11 million clients and operates in over 140 countries. There are 30 countries that are prohibited.
eToro trading is a multi-asset broker with a good variety of equities, currency pairs, cryptocurrencies, and other assets listed on the New York Stock Exchange. There are 26 distinct languages available. More than 70 technical indicators are included in charting software. It’s a terrific broker for inexperienced traders who need a little extra guidance. However, because of the high spread and tiny maximum trade size, it is not the best for active or high-volume traders.