eToro
Website: www.etoro.com
Bonus: Up to $1000
Minimum Deposit: $50
Commissions: No. (Taken from spread)
Spread (Euro/USD): 2 pips
Leverage (max): 1:400
Platform: eToro Platform (Web & Download)
Demo Account: Yes.
Other: Personal trading coach and 1 on 1 trading sessions. Tight spreads and no commissions.
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Background: eToro was established in 2006 by a team of financial trading experts and software developers. Based in Cyprus eToro are a well known and respected name in the world of forex trading.
Trading Platform: The raison d’etre of eToro is their simple to use intuitive user interface. The whole idea is to simplify and demystify forex trading using their unique trading platform.
The eToro trading platform can be used either as Web based or downloaded if you prefer. The interface is clear and easy to use making it ideal for forex trading beginners. The trading area consists of a simple set of tools allowing the fx trader to concentrate on their strategic plan.
New traders or experts can practice their trading plans and strategies in the fully functional practice area. This is a must have for inexperienced traders and you can even win big cash prizes by competing against other eToro uses in regular competitions.
Whilst there are no account levels, meaning all traders have access to the same tools, there is an Expert mode for more advanced forex traders. Expert mode facilitates one click trades, includes a full trade history and charts and provides the ability to manage your orders.
Etoro supports all the major currency pairs with a spread of as low as 2 pips for the majors. Leverage ratios are available up to 1:400.
Service and Support: eToro members can receive personal 1 on 1 training and coaching and there is 24 hour support to cover all trading hours around the globe.
There are many online training guides available for download as well as access to economic info, market analysis, charts and technical analysis. As well as expert advice you can chat at anytime about your forex trading in the live trader forums.
Both the eToro platform and support is offered in various languages including English, German, Arabic, Russian, Chinese, Spanish, French, and Italian.
Account Opening: A new account can be funded with as little as $50 and bonuses are available for deposits starting at $100, rising to a maximum bonus of $1000 for a first deposit of $10000 or more
Conclusion: eToro is an excellent place to start your Forex trading journey with its simple to use interface, tutorials and support. Initial deposit requirement are low and bonuses are among the best in the industry. At the same time there are enough tools and expert mode trading options for all but the most advanced forex traders.
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