DONT TRADE ON THE BROKER ETORO BEFORE READING THIS REVIEW

Investing in CFD is one of the most sophisticated investment options. It is highly leveraged, so any loss is enormous. Although most investors believe this is a reason to avoid the sector, it is actually a valuable option to consider.

Most avid investors know that the higher the risk, the better the returns. For this reason, CFD, even though 75% of accounts make losses, is an ideal trading sector for most.

Investors need to be familiar with the different assets: cryptocurrencies, CFDs and other options to be successful in copy trading. Once you know this, the next step is to find an ideal trading platform. Of all the trading platforms, eToro has emerged as the industry leader.

What started as a general trading platform has evolved over the years to become the undisputed trading platform.

Here is a detailed overview of eToro to help traders make informed decisions.

The background of the Etoro trading platform

With over one million traders currently on the platform, eToro stands for sustainable growth. Founded in 2007, the trading platform is a highly regulated platform for traders. Although it started as a general trading platform, the site has steadily grown to include cryptocurrencies and various other assets.

It has also been instrumental in the introduction and development of social trading. With CopyPortfolios and CopyTrading, it offers some of the most advanced forms of social trading.

Over the years, eToro has reduced its dependence on banks and the traditional money system. This has been achieved by providing users with integrated financial tools and a range of trading tools.

The company has been committed to innovation throughout its years of existence. Over the years, the company has introduced some of the pioneering tools: WebTrader, a professional management tool in 2009, CopyTrader in 2011 and the launch of a mobile app in 2012.

To grow further, the broker introduced CopyPortfolio in 2016 and launched crypto trading in 2016. So far, it supports some of the major cryptocurrencies such as Litecoin, Ethereum and XRP and will close 2019 with a full crypto exchange in the form of eToro X.

In general, the company focuses on the customer experience. It uses a very intuitive and interactive interface for users.

Pros and Cons of trading with eToro

Etoro Licences and Regulated Framework

Trust in online trading is something you should never give up on. eToro strives to build trust through thorough regulation. The site is licenced by the Cyprus Securities & Exchange Commission and is also subject to the regulations of several other regulatory bodies.

It is licenced by the Financial Conduct Authority, which gives users access to information on all risks and related details. It is also subject to the regulations of the European Securities and Markets Authority, which provides greater security. All major European countries regulate the operation of the trading platform to ensure safety.

The only concern when using EToro is the restriction of regulations outside the jurisdictions. For example, if the broker is able to hold assets outside the European economic bloc, the rules might no longer protect the trader. Nevertheless, protection of up to $50,000 is guaranteed with the broker.

The rules also provide negative protection so that no trader can lose more than 0% money.

Deposit and withdrawal methods offered by Etoro

The ease of deposits and withdrawals is one of the most important points for most traders. Like any other trading platform, eToro offers a comprehensive guide for deposits and withdrawals. The trader should take the time to read all the instructions on the platform before considering signing up.

Once he is sure he can follow the rules, he can deposit. eToro offers several deposit methods for the convenience of traders. It accepts traditional money transfers such as bank transfers, Visa, Mastercard and wire transfers.

For the tech-savvy traders who prefer electronic money transfers, PayPal, Skrill, Webmoney and other options are available.

eToro offers minimum deposit limits of $50 and $500 when using wire transfers. Deposits of up to $10000 in one day are supported.

Traders can either keep the money in the account for continuous trading or withdraw any amount above $50. It takes about 3 - 5 days for the money to reach the beneficiary's account.

Security features of the platform Etoro

Security is one of the most important factors in trading. In the world of trading, fraud, money laundering and money losses are commonplace, so extra caution is required. To ensure user security, the website uses a Secure Socket Layer system (SSL) for secure data transmission and user authentication. There is never any risk of unauthorised persons accessing user data.

Apart from the security features that eToro offers, the company also encourages its users to protect themselves. The company advises traders to use 2-factor authentication for added security.

It urges users to always protect their passwords and never use the password on any other platform. Also, update your browser and operating systems regularly and be extra careful when using public computers.

Finally, the broker is very vulnerable to security problems. It allows users to report any instance of a security breach. The company also operates transparently by disclosing all fees and charges for maintaining an account.

Review of the Etoro Mobile App

With internet access becoming more common via mobile devices lately, eToro is committed to providing its users with the ability to trade from their mobile phones. Currently, the website is one of the best mobile-friendly websites.

It offers an easy-to-use Android app. The app integrates responsive trading charts, almost like on the web.

Besides the mobile app, eToro also offers a wallet for cryptocurrencies in the form of eToro X. The app keeps the coins safe during trading until the user is ready to sell them. The wallet is also easy to use and access.

In general, accessing the mobile site is more or less the same as using it via the web, albeit with small differences.

Customer service eToro offers reliable customer service for its many users. The primary contact system is ticketing, through which traders can submit a query on a variety of topics. Although this system is not very popular with most companies, it is useful.

Even before you submit a ticket, you can find detailed information about most customer concerns on the FAQ page. In addition, an interactive live chat is offered on the website for most issues.

The only problem with customer service at eToro is the lack of a full-time mobile contact. Otherwise, eToro has a strong social media presence for marketing and communication. It is also available in 14 different languages.

Assets you can trade with at the eToro trading platform

One of the misconceptions about the trading website is that users do not own any assets. Although the site started with CFDs, it has expanded to allow trading in stocks and cryptocurrencies. Buying stocks and shares on eToro is like investing in any other stock market.

You can either buy shares in the short term and speculate on rising prices or opt for the long term route and benefit from dividends.

Trading cryptocurrencies on the website is also popular because of its security. The site supports more than 16 crypto dollar pairs, ideal for those looking for variety. Otherwise, you can only withdraw your cryptocurrencies via Binance or Coinbase.

eToro also offers forex, indices, ETFs and commodities.

About fees charged On Etoro

Even though eToro does not charge trading fees or commissions, the website is not free to use. They charge fees in the form of spreads. For most cryptocurrencies the spread is around 5%, for others, it is as low as 0.5%.

Understanding also includes how much the profit is. Since the main reason for trading is to win, eToro is a great place for those who want to earn more. While the amount of profit depends on the asset and your location, there are high leverage and overnight fees to consider.

Etoro Trading Platform Review Bottom Line

After review, it's easy to see why eToro is one of the most established trading platforms in the world. The site prides itself on offering a wide range of investment options. It also belongs to several regulatory bodies that have earned it a good reputation for safety.

By supporting multiple payment methods, eToro has increased access and ease of trading - and also offers exceptional customer service.

However, all these positive aspects come at a price. Trading on the site is a little pricey, as spread fees vary by asset. In the long run, however, the profits outweigh all other costs. For those looking for an ideal financial trading platform, eToro is the best, if not the only option.