Although eToro has been around as an online Forex firm since 2006, it is fairly new into the North American market. Nevertheless, this firm of 50,000 strong has a lot to like about it, not the least of which is its overall software package.
Features of eToro Forex Trading
Perhaps the best feature of the eToro software package is the fact that it is so accessible to new traders. One of the main goals of this particular Forex firm is catering to people that are new to the world of Forex and for that reason they have streamlined all of the features of their website to make them easier to use. If you are a new trader this is great for you and even if you are a seasoned veteran the end result is still an amazing increase in the user friendliness of this particular interface.
When you are trading Forex online with eToro, you have many different account options available. Their beginner level account comes with a minimum deposit of $50 and leverage of 10:1 that allows you to deposit $50 yet control $500 when you are actually doing the Forex trading. If you feel like you’re beginning to get the hang of things however, that leverage can be increased with higher risk all the way up to 400:1, giving even the smallest account the chance to control at least $20,000 in cold hard cash for the purposes of trading.
The eToro trading platform is very accommodating when it comes to giving you ways to deposit. In addition to depositing with your credit card, you can also make a deposit with eToro through the following options:
The interface for the eToro platform is sublime. With so much information on the screen, they have somehow managed to organize it in a way that gives you all of the information that you need when you need it. This is important because they have as close to real time as updates on currency pairs can get, allowing you to take advantage of a particular situation before anyone else does.
In addition to being very easy to understand and interpret, the eToro software platform is also very user friendly. You can look over all of the options and quickly decide what you want to do without having to worry about anything else in the process. You can set entry and exit positions easily and you can even change the graphical representation from a chart to many others such as races being run, tugs of war, wrestling, cowboy roundups and sumo wrestlers fighting.
Help for Beginners
As has previously been mentioned, eToro is the site of choice for new Forex traders. If they don’t have a particular newbie help tool, you can be pretty sure it does not exist.
The eToro service is very security-conscious and that is why they use SSL technology to encrypt all of their data. They also refuse to share any of your information with third parties, allowing you to get some secure privacy even when sharing your personal information with them.
Overall, eToro is definitely a good online Forex broker that you can benefit greatly from dealing with. If you are new to Forex, this is definitely on the short list of sites you should visit.
You can even read reviews of Xforex Online Broker and AvaFx online broker.
Risk Warning: Trading in forex and Contracts for Difference (CFDs) is highly speculative and involves a significant risk of loss. Such trading is not suitable for all investors so you must ensure that you fully understand the risks before trading.