Website : www.etoro.com
Owners : Yoni Assia
Type : social investment network, forex trading, affiliate program
Price : $50 minimum deposit (not open in the USA)
Overall rating : 6/10
Who Is It For ? : people who have money to invest and don’t fear risks
What Is eToro?
eToro is a social trading company that allows its users to watch the financial trading activity of other users and copy them (the good ones, obviously 😉 ). Clients allow their trades to be uploaded to the eToro network where they can be displayed in a number of statistical ways, such as by the amount of profit made. Other users can then set their accounts to follow these traders, in which case the eToro system will duplicate each trade made in the followers account.
eToro provides its social network for traders trading online financial services such as forex, commodities and stock indices through its own electronic trading platform so that it can record and place trades for its users. eToro is an incredible way to connect with traders and investors! eToro It is the world’s leading social investment network. With eToro you can tap into the wisdom of the crowds to help you make smarter investment decisions.
“Online trading website Etoro have applied a “Facebook meets Twitter”- like approach in which users build communities to share and discuss trades, while sites rank top players and offer the chance to duplicate the trades of the most successful peers”
“If we had to rank the six social networks by how well they understand these three lessons, there would be one clear and undisputed leader, eToro” Javier Paz, Senior Analyst, Aite Group
The company owning the eToro online trading software in the United States, Tradonomi LLC, is registered with the CFTC and is a member of the NFA.
Apart from compliance with the regulatory requirements on capital and the various rules aimed ensuring a fair and honest trading environment, eToro implements the industry-standard secure socket layer (SSL) technology for data encryption.
eToro accepts deposits via Paypal, MoneyGram, Neteller, WebMoney, in addition to credit card deposits and wire transfers. Depending on the funding channel used, the minimum initial deposit requirement can be either 50 or 500 dollars. In order to withdraw funds the client must fill and submit an online form. eToro’s website offers extensive guidance on account deposits and withdrawals.
Apart from the demo account, eToro offers numerous guides, tutorials and a trading forum where traders can share their experiences and discuss the lessons learnt with others. The support staff is very professional and patient. As the firm specifically targets the retail segment of currency trading, traders of all experience levels are welcomed to ask questions and seek help from the knowledgeable and helpful support team.
– low leverage options 400:1
– very small initial deposit requirements ($50)
– extremely satisfying experience
– the platform is easy to use and get used to
– various unique features
– doubly rewards its most successful clients: not only do you make a profit with your own account, but you can also win the competition and earn the sizable prizes offered by the company
– real time trading
– demo practice account
– social networking to enhance the learning curve.
Well I couldn’t find any except that of course you could lose money, but hey, that’s part of trading! 😉
I became an eToro member recently and I love it! After suspicious beginnings (like anything I start really lol…) it’s been going quite well for me. I don’t have to do anything except follow a good (or several) trader(s) and he/they will invest my money in currencies or stock options.
Now I would recommend starting with binary options, if you’re really considering earning money from trading. It’s a bit easier than forex.
You’re probably thinking “but I don’t know anything about trading!” or maybe you even fear trading, like I did! What I have learned on eToro is that Social Trading is about opening the markets to everyone. At eToro they encourage you to connect with other people to discuss, trade, invest, learn and share knowledge across the network. Can you imagine being able to copy the best traders with a “click” of a button?
When I joined eToro, I made 70 dollars in 9 days. It doesn’t sound like a lot of money but it’s something! =) On the below screenshots you can see what my profits !
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If you are interested in joining our community and following the best traders, click here !
Risk Warning: Investing in leveraged products carries a high degree of risk. eToro offers protective measures to manage risk effectively, but it is possible to lose more money than invested in each trade. However you can never lose more than your total balance.
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You might also be interested in my 24option review here! If you are not sure eToro is for you because you think it’s too risky, you can check out my review of Wealthy Affiliate. They’re the reason I can work from home !
Thank you for dropping by and please feel free to leave a comment below or to email me directly at email@example.com, I will be more than happy to connect!