Etoro

eToro is the first global market place for people to invest and manage their funds simply and transparently. With over 1.5 million users in more than 130 countries across the globe, and 2,000 accounts opened each day they are the world’s largest investment network.

Their trading platform is simple and intuitive and they provide customers with a variety of educational resources to help you along the way. It’s a fairly hassle free sign up process and, for beginners or those looking to give it a test drive, eToro offer a free demo account.

As mentioned it is a trading community, something that we feel had been lacking until eToro stepped up to the plate. There is chat section built within the platform enabling traders, with varying levels of experience to communicate and help each other along.

Trading Platform:

As mentioned the trading platform is simple and intuitive, yet effective. With their platform, eToro have managed to create a unique trading experience by bringing traders together. Trading doesn’t have to be a segregated activity, sure you need concentration and patience but interaction among fellow traders can only be a positive thing and eToro have developed this idea. The platform provides the ideal surrounding for non-professional traders to come together and trade while passing on tips and tricks of the trade.

 The platform comes as both a download and in web format. The downloadable platform gives traders two options for how they wish to operate the interface:

 Expert Mode: This will suit the more experienced traders and will more closely resemble trading platforms provided by other brokers and includes live charts which can be used by the more technical trader.

 Visual Mode: This interface has been designed with the novice trader in mind. Everything is displayed in a simplified manner including trading graphs and charts to assist beginners in the learning curve.

 Clients can also make use of the eToro mobile trader app for Android, enabling them to trade forex, commodities and indices on the move. The app features the social aspect of the eToro main platform enabling you to see, follow and copy the top traders with a single click. Traders can get real time rates while managing, tracking and modifying trades. Users will also have access to candlestick charts for all available markets.

 Features:

An eToro account can be opened with just $50 and carries a maximum leverage of 400:1. Traders have the option to use a number of risk management tools including stop, limit and trailing stop orders. Traders opening an account with eToro will automatically be entered into the eToro Trading Challenge which carries weekly prizes of $1,500.

 There is plenty of training and education available with eToro including live webinars, eCourses that help you to learn the art of financial trading at your own pace and the eToropedia which gives you access to articles to enhance your trading knowledge.

 An additional feature of the social aspect of the visual platform is the ability for traders to chat with each other while taking part in periodic challenges and tournaments. The tournaments can be played with both real and play money, although as you would expect prizes are more lucrative for the real money tournaments but it adds a nice social/competitive aspect to the experience

 Both expert and novice traders can benefit from eToro’s OpenBook platform which is, essentially, a social trading network in which traders can follow each other, some with the hope of picking up tips from more experienced traders. The ‘better’ traders get recognised for their trading knowledge and profitability while beginners can learn, and potentially profit, by following their trades.

 In terms of customer service they provide the usual channels of phone, email, call back, and live chat facility – all of which operate between 06:00 and 22:00 GMT.

 Accounts:

Bronze – The bronze account is ideal for new, inexperienced traders. It provides you with your first step onto the platform and has the bonus of no monthly trading requirements to retain access to it. With a Bronze account you have access to a practice account, free entrance to the real traders’ chat room, eToro’s weekly forex newsletter and participation in the eToro open challenge in which you have the chance to win the weekly prizes of $20,000. Once you have traded 300 aggregated lots, or deposited a total of $1,000 you will be entitled to a silver account.

 Silver – In order to retain your silver account status you must trade a minimum or 150 lots quarterly. The silver account provides you with access to the complete written and video eToro forex e-Course and an account executive who will assist you with any basic trading questions you may have, explain fundamental trading concepts and principles and help to make sure that you are getting the best out of the functionality offered by the platform. All this is in addition to the services offered in the bronze account. Once you have traded 2,000 aggregated lots, or deposited a total of $5,000 you will be entitled to a gold account.

 Gold – In order to retain your gold account status you must trade a minimum of 600 lots quarterly. In addition to the perks offered by the silver account, you will gain access to faster withdrawals, a 10% bonus (up to $500) on your first deposit of each month and an account executive who will monitor and give you information about risk management, trading strategy and market analysis coaching. Once you have traded 10,000 aggregated lots, or deposited a total of $20,000 you will be entitled to a VIP account.

 VIP – In addition to the services provided by the gold account, VIP account holders will be provided with a daily market report, an optional rebate program to suit your trading needs, one-on-one training sessions with your account executive, a 15% bonus (up to $2,000) on your first deposit of each month and direct trading room telephone access.