eToro: Review, Opinion and Spreads of the Forex Broker

WARNING!
The financial products offered by the company present a high level of risk and can result in the loss of all your applied funds. You should never invest money that you can not afford to lose.

Detailed Information on eToro: Forex, CFD, Social Trading, Automatic Trading and ETF Trading
	Users' Rating	Visit the Website
		Visit the broker's website Highly volatile investment product. Your capital is at risk.
eToro Features
Headquarters	Founded in	Regulations	Support	Website
Europe, Cyprus	2006	CySEC	English	etoro.com
Technical Description of eToro
Execution Type	Leverage	Spreads	Deposit Min	Bonus
Market Maker	30:1	fixed	£200	N/A
Trading Instruments Available
Forex	Raw Material	Metal	Share CFDs	Indices CFDs
16 pairs
Trading Platforms Available
MetaTrader	Windows	Mac	Webtrader	Mobile

Spreads
EUR/USD	GBP/USD	USD/JPY	EUR/CHF	USD/CAD	USD/CHF	EUR/JPY
3	4	2	5	3	3	4

About eToro

eToro is a broker based in Cyprus. It was founded in 2006 and its servers are located in the Netherlands. It complies with the European Markets in Financial Instruments Directive (MiFID) and is accredited in 40 European countries. In France, eToro has been approved by the Bank of France’s ACPR (control authority), making it perfectly legal. eToro’s website is translated in approximately 20 languages including Inglish of course, which shows it truly operates on an international stage.

Services

This broker is a Forex trading expert and operates solely on that market.

eToro offers services only online, using its own platform (WebTrader). There is hence no need to download software on your PC as everything is done on your web browser. Furthermore, common features developed by eToro are included in the interface. A mobile phone version is in the works.

Rates and Conditions

This broker does not itemise brokerage costs for each currency pair, preferring to charge brokerage fees from 2 pips. This seems sensible but you must open an account (even if it is simply a practice account) to keep track of your costs.

A minimum deposit of 200 units (e.g. £200) is necessary by credit card. If paying by bank transfer the minimum level is raised to £500. The maximum credit card deposit allowed is £5,000, while there is no limit to payments made electronically.

Deposits can be made in euros, US dollars, or British pounds.

Please note that there are withdrawal fees to be paid as well as rather stringent identity checks (you must submit copies of an ID card as well as your bank card before you can withdraw your earnings).

Leverage

Leverage ratios vary from 1:1 to 30:1.

Advantages

eToro’s greatest asset is the social network it has developed for investors. The broker’s clients can share ideas and get answers from professionals on forums and chats. eToro spotlights the best traders based on past and present performance.

It is also worth noting that the trading interface is very user-friendly. The broker has striven to achieve this and the resulting product is truly convenient.

Pros