With over 9 Million users and their rapid growth, The Etoro broker is one of the largest online brokers for CFD trades also they offer a good number of cryptocurrencies, forex and also Real stocks.
In addition to the normal trade in various financial products, eToro is characterized by its focus on social trading. This feature allows users to copy the promising activities of other traders.
This offers great potential, especially for newcomers. Users may first study the respective portfolios and finally close individual positions at their own convenience at any time. Over time, beginners learn what matters in trading and what trades are worthwhile.
Headquarters The online broker is headquartered in Cyprus like many other competitors. For European Union customers, however, it ultimately does not matter where in the EU a financial services provider is headquartered. The company is regulated by the Cypriot financial regulator CySEC. Like all other national supervisory authorities, it complies with European law. The deposit insurance, for which the financial service providers are responsible, is regulated at European leve
- At eToro there are four subdivisions for the traders:
- Rising Star
- Trading platform and mobile trading
- EToro deals in CFD’s stock, crypto currencies and Forex.
- The eToro apps for iPhone and Android
- The eToro demo account in facts:
- eToro minimum investment:
- The accepted payment methods at forex broker eToro
- Charges for withdrawals
- eToro fees
- Fees on spreads and overnight fees
- The fees are graded according to the amount of the payout:
- Customer service and support
- This is offered by eToro.
- Regulation and security
- Is eToro fraud or reputable?
- Social trading with eToro:
- eToro advantages
- eToro disadvantages
- HOW REPUTABLE IS THE FOREX BROKER ETORO?
As a trader at eToro
At eToro, there are traders and investors. Investors follow the traders, copying their strategies and thus benefit from the professional knowledge that is offered to them here. Traders have the opportunity to earn a solid career with good pay on eToro if they succeed with their trades.
At eToro there are four subdivisions for the traders:
These are the beginners. These traders receive no payment but only a 25% revenue share. Requirements are a verified account and at least one copier on their own trades.
Anyone who has already been able to develop 50 copiers and has a minimum balance of 1000 euros or dollars in his account, is a rising star.
This means he will receive a payment of 350 Euros, a 25% revenue share and a 10% spread refund.
If you want to become a champion at eToro, your account must have at least 250 copiers and a credit balance of € 1,000 or more. In this case, there is a payment of € 1,000, a 30% revenue share and a 50% spread refund.
In addition, access to the premium account will be provided.
As payment, there is a 2% interest on the annual assets under management as well as a revenue share of 30% and a 100% spread reimbursement. There is also access to the premium account.
The account must have a credit balance of at least 5,000 euros. If you want to succeed as a trader at eToro, you can try this in three steps.
First, start the trades. Your own strategy is then shared. Now it is important to gain the trust of the community and to get as many copies as possible. This requires explaining your own trading decisions and answering the questions of the copier. Depending on how many copies there are, then the pay stacks up.
Note: The revenue share refers to the net proceeds of the traders that you have brought to eToro. These do not have to be copiers of the trader. Spread reimbursements are calculated based on net spreads and reduce costs. They will be refunded in credits.
Trading platform and mobile trading
The trading platform at eToro is particularly simple and clear and can be used via the web application. The download of a software is not necessary. There is also a mobile application that can be downloaded to the mobile device. Both traders and investors can easily access their account from anywhere and benefit from the opportunities offered here.
Trading at eToro
eToro provides you with a web-based trading platform. Downloading software is not necessary for trading. Anyone who has little trade experience will quickly find their way around. The platform is also intuitive to use for beginners.
EToro deals in CFD’s stock, crypto currencies and Forex.
With the CFDs contracts with leverage. At eToro up to 1: 400.
As underlying, currencies are available in addition to stocks or Commodities, indices and ETF’s,
The eToro apps for iPhone and Android
Of course, eToro also supports mobile commerce with two eToro apps, which are available for Android as well as for the iPhone.
Similar to how the social platform is divided into 2 areas, the apps also focus on the social component of the OpenBook and the actual trading platform. eToro Bonus for new customers etoro bonus eToro offers very different bonus promotions that can vary from month to month.
First, here is a welcome bonus depending on the deposit amount to call. This one is $ 100 in credits for a deposit of $ 300 to $ 999, if you deposit $ 1000 to $ 2499, you will get a bonus of $ 300 credits. $ 1000 credits are waiting for you from $ 2,500 to $ 5,000, and you should not be afraid to negotiate with support.
You will also be rewarded at eToro for recruiting friends or when you are copied as a successful trader. To get up to a 50% bonus, your trades should be copied 5 times. Note that all bonus amounts are subject to the current bonus conditions.
There is a variety of bonus offers available at eToro. Particularly attractive is the copy-bonus, which makes up the unique selling point of the platform. The eToro demo account Even though the idea behind eToro is quite simple and comprehensible, it still needs a start here in order to befriend the system and understand the platform.
For this, eToro offers a free eToro demo account without a specific term. Traders and investors alike can use the demo account to familiarize themselves with the platform, explore it and make initial investments or trades. No money is lost because the test runs all start only with play money.
The eToro demo account in facts:
– free without deposit – temporary unlimited
– equipped with €/$ 100.000 play money
The demo account also has the advantage that the platform can be explored.
If any questions or issues arise with respect to the platform then these can be put directly to the support before a prospective buyer decides to make a deposit or an investment.
The eToro demo account is really impressive. It is the ideal entry for beginners or undecided traders. You have the opportunity to get to know eToro without obligation.
eToro minimum investment:
Payment transactions, security, support eToro deposit
Opening an account with eToro is quick and easy. All you have to do is register on the eToro website. Opening an account with eToro is possible from a deposit of 200 €. There is a whole range of options available as payment methods.
The deposit options for the trader on his eToro trading account at Forex Broker eToro are quick and straightforward. Due to the many deposit options, every trader will find the best option for him.
The accepted payment methods at forex broker eToro
- Neteller / 1-Pay
- Credit card
If the trader wants to make deposits via credit card, or Skrill on his trading account at the Forex broker eToro, then this is only a maximum of 5000 Euro. If the trader pays by Neteller and 1-Pay, then he can deposit a maximum of 10000 Euro into his trading account with the Forex broker eToro.
Charges for withdrawals
The payout works with eToro as a deposit.
In your internal area choose “Checkout” and “Take Off”. Select the desired amount you want to withdraw in USD. Within 5 days your withdrawal request will be processed and then transferred to you depending on the payment method. Please note that under current EU law on money laundering, you must legitimize yourself at the first disbursement.
However, you only have to go through this process on the first payout. The payment method is a credit card, e-wallets or the clear bank transfer available.
If the trader asks the Forex Broker eToro for a payment request, the processing can take up to 5 days. Compared to its competitors, the Forex broker eToro is a bit slow here.
In addition, depending on the amount of the payout processing fees. If the trader requests a payout between 20 and 200 euros, the fees will be 5 euros. If the trader decides to pay between 200.01 and 500 euros, then he has to pay 10 euros in fees and from 500 euros the processing costs 25 euros at the Forex broker eToro.
Fees on spreads and overnight fees
With a spreadsheet that is kept up to date, eToro gives an overview of the spreads that occur in trading and possible over-night charges that could be calculated. The table is divided here into the individual currencies.
Depending on the underlying, you can transparently see the spreads and bid/ask spreads overnight.
From our experience, the fees are fair and transparent. You should know them though. A detailed listing of all charges can be found on the eToro website at Customer Service and here “Fees”.
Fees for the payment eToro charges for the payment. Although this is not so rare among brokers on the Internet, it is less and less used.
With eToro, the fees have to be paid from the first payout, so there are no monthly payments. A payout is generally possible for an amount of 20 euros.
The fees are graded according to the amount of the payout:
- 20 euros to 200 euros – fees of 5 euros
- 200.01 euros to 500 euros – fees of 10 euros
- from 500.01 euros – fees of 25 euros
The fees charged here can make it worthwhile to wait until a solid amount is paid. It should always be calculated with the fees. The payment is made in the same way as the deposit, as far as possible.
Customer service and support
Of course, the eToro system is based on the idea of helping the community itself.
This is basically a good approach. Especially in the technical area, however, there may be questions or problems. Therefore, a good support is absolutely necessary.
This is offered by eToro.
There is a very large FAQ area as well as a live chat. Here the questions can also be asked in the national language. The answers are relatively fast. The eToro Trading Academy Social trading also needs to be learned. Therefore, the offer for further training from a broker naturally plays a major role in the decision. eToro can certainly score points here.
The Trading Academy is particularly well positioned and offers many opportunities to learn about the trades, the platform, the stock market and other areas of the trade. The live webinars are done after registration and deal with different topics. The eCourse offers interactive trading courses where participants can become familiar with trading in slow steps.
If you want to learn as much as possible in a short time, you decide for the trading videos and can be guided in this way.
Regulation and security
The security is securitized by eToro through the official CySec (Cyprus Securities and Exchange Commission) license.
With a European subsidiary in Cyprus, the company is eToro (Europe) Ltd. To be classified as safe behind the eToro brand. The capital market directive MiFID, which protects the capital and the rights of investors after the banking crisis of 2007, applies here.
A deposit guarantee and certain rules we handle with your capital guarantees additional security. The platform that eToro uses is considered to be very secure via current encryption methods.
Is eToro fraud or reputable?
eToro is classified as absolutely serious. The terms and conditions are clear, the fee structure transparent. eToro is fully EU regulated through Cyprus Cypriot Securities Exchange Commission CySec. Over 4.5 million users currently rely on eToro. Big investors and partners behind eToro are Commerzbank, Barclays or Spark Capital.
Currently, eToro can be considered the leader in social trading. Also on the Internet, no opposing opinions are known that could deny the seriousness of eToro. Fraud or rip-off are not recognizable with eToro.
Social trading with eToro:
A new business model with a lot of potentials.
- Complete EU regulation
- CySec licenses
- Mobile offer via the app
- 4.5 million users
- Variety of payment methods
- Free account opening
- Free demo account
- Strakes bonus offer
- Top educational offers
- Lever 400: 1
When deciding on a broker, the potential disadvantages also play a major role. With a solid offer, a very good platform, great features, and good regulation, eToro has few disadvantages. These can be found above all in the fees for the payment of amounts as well as in the partial missing translation of the page.
Even though eToro is an international provider, it would be beneficial if all parts of the website were written in the respective languages, so that customers who only speak their native language can understand everything here.
- Cost of inactivity
- Costs for withdrawals
- Only a few underlying in comparison
- No complete German page
HOW REPUTABLE IS THE FOREX BROKER ETORO?
Forex broker eToro has so far presented itself as extremely serious. The broker is registered in Cyprus and is therefore subject to the strict requirements of the European Union. Among other things, the requirements of the EU state that the client funds must be managed in separate accounts.
Furthermore, the customer funds are protected by the statutory deposit insurance. In addition, the extensive and German customer service speaks a high degree of seriousness.
The forex broker eToro is particularly suitable for traders, who deal for the first time with the topic currency trading. The software of the Forex Broker eToro convinces by a simple operation and a high user-friendliness and yet it offers the trader all important features for a detailed chart analysis.
The many seminars and instructional videos that explain trader beginners step by step the topic currency trading are very noteworthy at Forex Broker eToro.