eToro is a regulated online brokerage that offers trading of a wide range of trading instruments. It was among the first online trading companies to support digital currency trading when it added support for numerous major digital assets, such as Bitcoin, Litecoin, and Ripple. They are proud of the development of their innovative social trading feature that allows users to automatically copy the trades of successful traders on the platform. Additionally, eToro provides a comprehensive trading experience with over 3,000 tradeable symbols, including CFDs, forex pairs, and exchange-traded securities.
About eToro
eToro, which is headquartered in Tel Aviv, Central Israel, is a global online brokerage firm established in 2007 and led by CEO Yoni Assia. eToro offers traders highly advantageous conditions, featuring narrow spreads and reasonable commission fees. Additionally, traders have the option to select from two distinct account types: a live account and a demo account. A wide array of trading instruments, including stocks, crypto, commodities, forex pairs, indices, and ETFs, is available for trading. Keep in mind that eToro offers an intuitive interface designed to cater to a wide audience. In their pursuit of aiding clients in effective financial management, the platform has introduced a range of innovative trading tools and features.
Account Types
eToro provides traders from all across the globe with the opportunity to choose between two distinct account types:
- Live Account
- Instant Deposit/Withdrawal
- Access to Numerous Trading Instruments
- Web, Mobile, and Desktop Trading Platforms
- Demo Account
- Trading with Virtual Money
- Perfect for Gaining Experience
- No Stress while Trading
- Perfect for Developing a Trading Strategy
Trading Instruments
eToro provides traders with a thoughtfully selected array of trading instruments, granting them entry into the globally renowned and highly liquid financial markets. This ensures that traders have continuous access to trading opportunities around the clock.
| Trading Instrument | Number of Trading Instruments |
|---|---|
| Forex | 51 Currency Pairs |
| Commodities | 32 Commodities |
| Indices | 21 Indices |
| Stocks | 3,200 Stocks |
| ETFs | 420 ETFs |
| Cryptocurrencies | 74 Cryptocurrencies |
Trading Platforms
eToro offers a single custom-made trading platform that their team has developed. This trading platform is uniquely designed to provide straightforward and simple trading for traders all across the globe. It is available as a desktop and mobile trading platform, allowing the trader high flexibility of available devices he can operate from.
eToro Investment Platform
eToro is dedicated to democratizing access to financial markets, offering an intuitive interface designed to cater to a wide audience. In their pursuit of aiding clients in effective financial management, the platform has introduced a range of innovative trading tools and features. These include a virtual portfolio, a tip ranks research tab for informed decision-making, and convenient functions like one-click trading, stop-loss, and take-profit settings, trailing stop-loss, pro charts for advanced analysis, and even the capability to trade offline. This comprehensive suite of features underscores eToro’s commitment to providing users with a straightforward and empowered trading experience.
Safety
eToro is a broker that was founded back in 2007 while also being regulated by several financial authorities worldwide. These include the following five:
- FCA – Financial Conduct Authority
- SEC – Securities and Exchange Commission
- FINRA – Financial Industry Regulatory Authority
- ASIC – Australian Securities and Investments Commission
- CySEC – Cyprus Securities and Exchange Commission
eToro offers the option to open a trading account with one or multiple of their authorized entities, dependent upon your country of residence. This aspect holds significance for individuals seeking to establish an account with eToro, as the level of investor protection and regulatory oversight varies depending on the specific entity you are affiliated with.
| Country of Clients | Legal Entity | Regulator | Protection Amount |
|---|---|---|---|
| UK | eToro (UK) Ltd. | FCA | £85,000 |
| Australia | eToro AUS Capital Ltd. | ASIC | $500,000 |
| United States | eToro USA LLC | SEC & FINRA | $1,000,000 |
| All other countries | eToro (Europe) Ltd. | CySEC | €20,000 |
eToro also provides negative balance protection for CFD trading, but only for retail clients from the European Union and Australia while professional clients are not covered with any negative balance protection. Additionally, keep in mind that there is no investor protection for crypto trading.
Customer Support
eToro’s customer support falls below the industry standard. Generally, the primary means of contacting them is through web-based tickets seen below, which may take a couple of days to elicit a response. It’s worth noting that live chat is exclusively accessible to club members, and phone support is not provided. Additionally, it’s important to be aware that their customer support service is not available around the clock.
Exclusive: When Is Using a VPS & Trade Copier Beneficial?
Using VPS and Trade Copier services in financial market operations can prove highly beneficial in specific situations. Before going into specifics, it’s essential to first understand what a VPS and a Trade Copier actually are and the advantages they offer.
VPS
A VPS, short for virtual private server, is a system that houses the necessary software and data for operating an application or website. The term virtual indicates that it utilizes only a fraction of the underlying physical resources of the server, which are overseen by an external provider. Nevertheless, you have exclusive access to your allocated resources on this hardware.
When is Using a VPS Beneficial?
- When trading with Expert Advisors (EAs)
- When trading with multiple Brokers/Proprietary Trading Firms through a Trade Copier
- When trading through a Mac device
Trade Copier
A trade copier is essentially a software tool employed to duplicate trades across numerous trading accounts. It stands out as the most convenient and effective method for simultaneously managing multiple trading accounts, allowing for the execution of identical trades across various trading platforms.
When is Using a Trade Copier Beneficial?
- When trading with numerous Brokers
- When trading with numerous Proprietary Trading Firms
- When looking to spread risk between numerous trading accounts
Why should you connect a VPS and Trade Copier with numerous trading accounts?
As stated above, incorporating a VPS and Trade Copier into your trading activity can provide a wide range of advantages. For example, when pairing them with multiple trading accounts, you can strengthen the benefits they offer to an even larger extent.
Example of connecting five trading accounts, a VPS, and a Trade Copier
| Device | Benefits |
|---|---|
| VPS (Forex VPS) | Provides Low Latency & 24/7 Connection |
| Trade Copier (Local Trade Copier) | Provides Connection Between The 5 Trading Accounts |
| Trading Account | Account Size | Account Type |
|---|---|---|
| Broker Account #1 | €5,000 Account | Master Account |
| Prop Firm Account #1 | $100,000 Account | Copier Account |
| Prop Firm Account #2 | $50,000 Account | Copier Account |
| Broker Account #2 | $8,000 Account | Copier Account |
| Prop Firm Account #3 | $300,000 Account | Copier Account |
| Trading Account | Account Size | Risk per Position |
|---|---|---|
| Broker (IC Markets) | €5,000 Account | 2% per trade (€100) |
| Prop Firm (FundedNext) | $100,000 Funded Account | 0.6% per trade ($600) |
| Prop Firm (Funding Pips) | $50,000 Evaluation Account | 0.5% per trade ($250) |
| Broker (Pepperstone) | $8,000 Account | 4% per trade ($320) |
| Prop Firm (The Funded Trader) | $300,000 Funded Account | 0.8% per trade ($2,400) |
By utilizing a VPS server, you’ll ensure yourself a consistently low latency and a robust connection, ensuring uninterrupted operation of your Trade Copier 24 hours a day, 7 days a week. When integrated into your network of trading accounts linked by a Trade Copier, this can lead to substantial improvements in your trading outcomes. This is because you will no longer need to manually execute trades across all your accounts. Instead, simply execute the trade on your Master account, and the Trade Copier will automatically replicate it across all the connected Copier accounts. By employing this approach and configuring specific risk parameters for each linked trading account, you can enhance your risk management for each position, regardless of the current balance available in any of your trading accounts.
Education
eToro offers its clientele a wide range of valuable educational resources. These include a demo account, and numerous educational sections, such as eToro academy, news and analysis, eToro plus, digest and invest, retail investor beat, and account security.
- eToro Academy
eToro’s Academy section is full of educational resources tailored for traders of all experience levels. It offers a diverse range of articles, tutorials, and videos covering various aspects of trading, from the fundamentals to advanced strategies. The content is presented in an easy-to-understand manner, making it accessible even for beginners.
- News and Analysis
eToro’s News and Analysis section is a vital resource for traders seeking to stay informed and make well-informed decisions. It offers a stream of market news, insightful analyses, and expert opinions from trusted sources. This section covers a wide array of financial instruments and global markets, providing users with timely and relevant information.
- eToro Plus
eToro’s Plus section is a premium offering designed to enhance the trading experience for its members. It provides a range of exclusive features and benefits, including advanced market insights, priority customer support, and access to specialized tools. eToro Plus members also enjoy reduced withdrawal fees and other perks that contribute to a more streamlined and personalized trading journey.
- Digest & Invest
eToro’s Digest and Invest section is a valuable resource for traders looking to make informed investment decisions. It offers a curated selection of articles, market analyses, and investment insights. This section provides users with relevant information to help them navigate the markets effectively.
- Retail Investor Beat
eToro’s Retail Investor Beat is a comprehensive quarterly survey that covers the pressing matters influencing the investment choices and perspectives of retail investors worldwide. This insightful report provides a valuable snapshot of the current sentiments and trends within the retail investment community, offering valuable insights for traders and investors seeking to make informed decisions in the ever-changing financial landscape.
- Account Security
eToro’s Account Security section is dedicated to ensuring the safety and protection of its users’ accounts. It employs enhanced security measures such as two-factor authentication, encryption protocols, and continuous monitoring to safeguard against unauthorized access and potential breaches. Additionally, eToro educates users on best practices for maintaining a secure account, including regular password updates and avoiding phishing scams.
Conclusion
In conclusion, eToro distinguishes itself as a regulated online brokerage, offering the eToro Investment Platform, which is a custom-made trading platform that their team has developed for their traders. Providing a choice between two distinct account types, coupled with relatively tight spreads and minimal commissions, underscores their commitment to creating favorable trading conditions for traders worldwide. Notably, their robust regulatory framework allows users to select authorized entities based on their country of residence, enhancing security for those partnering with eToro. Furthermore, their extensive range of free educational resources, including the eToro academy, news and analysis, eToro Plus, digest and invest section, retail investor beat, and account security, showcases their dedication to providing essential knowledge. It’s important to note that eToro also offers potential integration of VPS and Trade Copier services. In conclusion, eToro emerges as a reputable online broker dedicated to serving traders across all experience levels, solidifying its position as a reputable choice within the broker industry.
