eToro is a global market place that allows its customers to trade several things such as currencies, stocks, indices, and commodities. It was founded in 2007. Trading with eToro is very easy, transparent, simple and interesting. eToro does not target a specific place or a certain group of traders to trade with it. It has a large number of customers which is over 2.75 million from more than 140 countries around the world. It offers several platforms that can be easily used to allow customers to trade with them without facing problems.
♦ A leading social investment network
eToro is a perfect social investment network and it is not a simple feature that can be easily found with any online Forex broker. This great feature allows you to make use of other traders’ experience because you can easily communicate with other real investors and traders who are experienced in investing and trading currencies, commodities, stocks and indices. You can make use of these experiences to improve your level in trading and investing to become professional and to be able to make the right decision on your own. You have the right to easily copy the trades that you think they will be profitable for you. The most important thing is that you do not have to do several attempts and risk your money trying to make profits but to no avail. This feature makes eToro beneficial and appropriate to beginners and new traders who do not have the ability and the enough experience to make the right decisions on their own.
♦ Do not depend on the past performance
Trading is not completely safe as there is the risk of losing your money instead of making profits. For this reason, eToro helps its users to take the necessary precautions to protect themselves from losing their money or at least try to minimize the risk of losing it. You have to bear in mind that depending on the past performance is the worst idea that you can ever follow even if this performance was the most profitable one you have ever achieved. You may ask yourself, why should not I follow my or others’ past performance? This is because the market is continuously changing and what is required today may become undesired tomorrow, so do not forget this and instead of that take your decisions depending on the current conditions of the market regardless of the past performance and results that cannot be considered as indicators for the future ones.
♦ Perfect choice for beginners and professional traders
eToro is not only beneficial for beginners who can follow and copy profitable trades, it also helps professional traders and investors to increase their followers, to make use of the several commodities, currencies, stocks and indices that are offered to meet different requirements and they can also provide other beginner traders with the help that they may need to make their decisions and make profits.
♦ Several platforms & reliability
For the platforms that are offered for the users, you can find eToro Web Trader, eToro OpenBook which helps you to see what other traders do, follow and copy the most successful and profitable trades and eToro Mobile Trader that allows you to keep trading at anytime and anyplace wherever it is without the need to stay at a specific place. You can easily access global markets and trade from any place around the world. The spreads differ according to what you are going to trade and those spreads start at 2 pips. eToro offers the registration for free and a $20 investment gift card. eToro presents several deposit methods to facilitate the process of depositing funds such as Credit Card, PayPal, Skrill, WebMoney, Wire Transfer, Western Union and MoneyGram.
♦ It did not forget Muslims
eToro offers an Islamic account for the Muslims who hope to trade via the internet, but they cannot do that because it does not follow the Islamic law and has what is called in Islamic religion “Riba” which refers to the interests that are decided on trades and transactions. With the Islamic account that eToro offers, there is no interest on trades and the transactions are done without delay. The minimum deposit that is required for opening an Islamic account is $50 and it is the minimum deposit that is required for starting trading with eToro.
♦ Customer support
To make sure that the investors and traders do not encounter problems while trading with eToro, it offers a 24-hour customer support for 5 days per week from Monday to Friday. There are many support channels that allow you to contact the support team such as e-mail, phone, Fax and live chat.
♦ Customer ratings
Most of the users who tried to trade with eToro recommend it as a perfect Forex broker and assure that it helps them to make profits easily. They could quickly improve their trading strategies in a short time thanks to the ability to access the trades of other professional traders and investors and the ability to copy these trades. They can find the tools that satisfy them and meets their trading and investing strategies. Some of the customers complain about not accepting checks, however the overall rating is that eToro is a perfect choice for many traders who want to start trading online with a reliable Forex broker.