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eToro Review


 

 

eToro

#1 Forex Broker

eToro

  • CySEC Regulated License number: n°109/10
  • Social Trading availableRead our Guide

Pros

  • Offers tight fixed spreads
  • No commission on trades
  • Has Islamic friendly accounts

Cons

  • US Traders not Allowed
  • Has deposit & withdrawal fees
  • Inactivity fee after 12 months inactivity

Overall Rating

Regulation

Support

Platform

Mobile App

eToro Info

  • Broker: eToro
  • Website: www.etoro.com
  • Established: 2007
  • Country: Cyprus
  • Support: Live chat, Phone, E-mail
eToro is a Forex and CFD brokerage company which offers social trading services to the investing public. The company was founded in 2007 and basically operates under several divisions for the purpose of fulfilling regulatory requirements in its areas of operation. The company’s operating divisions are as follows:

  • a) The corporate office operating in Cyprus, Europe and which doubles as the company’s headquarters. The company is registered as a Cyprus Investment Firm (CIF) with registration number HE 20058. The European brand of eToro, also known as eToro (Europe) Ltd, is licensed and regulated by the Cyprus Securities and Exchange Commission. Official license number is listed as 109/10.
  • b) The UK-based office houses the eToro (UK) Ltd brand. eToro UK Ltd operates under license and regulation by the Financial Conduct Authority (FCA), with license number FRN (firm reference number) 583263.

eToro Forex brokerage offers two products to its clientele:

    • a) Social trading

(Read our Social Trading Guide)

  • b) Core CFD brokerage business

eToro provides a social trading service through which its new traders (Followers) can copy the trades of the experienced traders on the platform (Investors). This service is offered using the web-based trading platform. You can find more information about it on our Social Trading Guide.
eToro also provides Contracts for Difference trading on a range of assets. These can be traded without having to copy trades from Investors on the eToro platform.

 

Trading Platforms

 

eToro offers two trading platforms to its clients.

  • 1) Web-based trading application
  • 2) Mobile trading application

Traders will have the opportunity to choose from any of the platforms. Let’s explore some of the features.

  • eToro WebTrader

The web-based trading platform is accessible via the eToro website using a username and password. All it takes to get access to the eToro’s WebTrader is to fill the online form to register an account. The Webtrader is integrated with eToro’s OpenBook, which allows Followers to copy trades from the accounts of Investors. The combined platform is now known simple as the New eToro platform.

  • eToro Mobile

eToro offers its users access to mobile apps which can be used to trade from Android devices as well as the iPhone/iPad.
eToro allows the trading of the following assets:

  • a) Currencies.
  • b) CFDs on Stocks, commodities, indices.
  • c) Exchange Traded Funds (ETFs).
  • d) Cryptocurrencies (Ethereum and Bitcoin)

 

 

Deposits and Withdrawals

Traders have various channels by which they can deposit funds and conduct withdrawals. These channels are listed below:

  • a) Credit/Debit cards

Credit/debit cards are top on the priority list of eToro’s channels of transaction. Card deposits are usually processed instantly. The deposits made with credit cards are usually limited to $20,000 max. MasterCard, Diner’s Club and VISA are the accepted card brands.

  • b) PayPal

PayPal is next on the priority list of deposit/withdrawal channels. Deposits of up to $10,000 can be made with PayPal and are credited instantly. Withdrawals take 1-2 working days to be completed.

  • c) Bank wires

The bank transfer method is universally available to every trader on eToro. It can take 3-8 working days to complete transactions. The advantage is that there are no limits to deposits or withdrawal amounts.

  • d) Digital Wallets – Several digital wallets are accepted on the eToro platform :

– Skrill: $10,000 maximum deposit with instant processing.

– China UnionPay $20,000 maximum deposit (single transaction).

– Neteller: $10,000 maximum deposit with instant processing.

                       – Webmoney $50,000 maximum deposit with instant processing.

– Yandex: For Russian users only. $10,000 maximum deposit with instant processing.

– GiroPay: For German users only. $30,000 maximum deposit with instant processing.

 

Customer Support

Customer support on eToro is available using the following channels of communication:

  • a) Live chat, which is available 24 hours a day, Monday to Friday.
  • b) Email: [email protected] is used for inquiries. Business development and affiliates can reach eToro on [email protected]
  • c) Phone
  • d) Social media on Twitter (@eToro), Facebook (facebook.com/etoro) and on the eToro YouTube channel.

 

Physical Locations

 

eToro (UK) Ltd
42nd floor, One Canada Square
Canary Wharf E14 5AB
London, United Kingdom
eToro Worldwide Broker and Service Center

eToro (Europe) Ltd.
KIBC
Kanika International Business Center
7th Floor
4 Profiti Ilia Street
Germasogeia, Limassol, Cyprus 4046
Fax: +44-866-350-0881

 

Try It Now !

 

For all the reason above, we can tell you that eToro is definitely a trusted Forex broker and on of the leader in the industry.

Try it now by clicking the button below !

 

eToro - Visit Website