IMPORTANT CLARIFICATION: This review is my personal experience with the mentioned broker in the review. I do not advertise to any broker. I do not recommend, encourage or discourage any reader/visitor to register, invest, deposit or try any broker services based on my opinion. You are fully responsible for your decision and for all the risks that might occur during using any FOREX broker. I am just sharing my personal opinion and that's it.
I take no responsibility or liability if this experience that I expressed does not represent the reality. Contact me, if you've anything to say related to this review.
eToro Overview
- – eToro.com is one of the most popular social trading platforms. As mentioned on: About eToro page, eToro is a real social community which gained the trust of 2.75 million traders/investors. eToro offers FOREX traders/investors reliable brokerage services that we will walk through in the following review
- – Located in: CYPRUS | Customer Support: Support Section
eToro Offers
- – eToro.com is offering good offers in terms of number of offers and how long does it last.
- – Current ACTIVE offers:
- Special offer – MAY 2015: is to invite one of your friends and when he/she deposits at least 200$, you will get 100$ bonus and your friend will get 100$ bonus on the 10th of the next month!
- Popular investor: get up to 50% on your deposit, once you’ve one or five copiers (for the first time) – Offer Details
- Premium clients are eligible to get bonus on their deposits up to 10%.
eToro Design
- – eToro.com has decent classic design. I can confirm that it is one of the few designs that you will get used to, without feeling uncomfortable. eToro applied the famous quote in its design (easy and classic, you will love).
eToro Functionality
- – The functionality of the website is fine overall. However, eToro has been DDoS attacked twice in 2014 which pushed the webtrader down for around 6-8 hours in every time, eToro compensated the investors/traders who lost any equities during these incidents and they shared dealing-desk phone numbers to give the chance for the customers who wants to close their positions.
- – You can post, read and comment on any posts posted on your timeline easily. In addition, you can post your own too.
- – Chatting privately with other members via eToro is not allowed. However, every member has his own wall to write what he/she wants and discussions are allowed too.
eToro Features
- – Many FOREX pairs, commodities, indices and stocks to trade
- – Social trading and long list of good profitable traders to copy
- – Great detailed account stats overview
- – Leverage up to 1:400
eToro, Account Types
- – No hassles, just deposit. One account type with fixed spreads and if you are a muslim, you can convert your account to islamic one.
- – Premium account is available for anyone who deposits 20,000$ or more. It is the same as the normal account, the major difference is the premium customer service you will enjoy, account manager, withdraws are
- – The spreads start from: 2 pips
Deposits / Withdrawals procedures
- – Withdrawal fees (per transaction):
- $20 – $200 is subject to $5.00 fee
- $200.01 – $500 is subject to $10.00 fee
- Above $500.01 is subject to $25.00 fee
- – Minimum deposit/withdrawal allowed (per transaction): 20 USD
- – Deposits can be made using: MasterCard, Visa, Skrill, Paypal, Netteller and Wire-transfer
- – No fees on deposits in eToro
Strong Points
- – Customer service are always there for your help as long as the solution is there, eToro team will help you via e-mail, chat and even phone calls. However, technical department and financial department usually takes up to 2-4 working days to solve your problem. No real reason for this long time but, the community is very crowded with problems too
- – Reliable eToro webtrader, without the 2 DDoS attack incidents – eToro system uptime is almost 99.9%
- – Social platform is one of the best social trading experience you will enjoy.
- – eToro‘s Trading academy is good place to learn trading through: e-courses, live webinars and trading videos.
- – Webtrader and OpenBook is available for mobile (Android and iOS)
Weak Points
- – Slow development in eToro webtrader. Especially in the design area, The webtrader look and website did not change from almost 2 years. Notice that: eToro new version is coming soon from than 3 months and I had limited access to it, it seems to be much decent and reliable than the current version (will update this review with the new version, once it is available for all).
- – No metatrader 4/5 platform support.
- – Withdrawal fees is not popular in most of the brokers and is unfavorable
Conclusion
- – eToro has established a reliable solid platform, backed it up with amazing marketing plan, great customer support team, keeping on on going enhancement in the weak areas and they will be one of the favorite brokers and social trading platforms for everyone.
