What is eToro About?
Comprehensive Review
Name : eToro 
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”
“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
Safety
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.
The firm’s privacy policy states clearly that client data on credit history, net worth or other personal information is never shared with any person or institution. Please note that eToro is not available yet in the USA. If you would like to know when it is available though, you can click here!
eToro – is it safe?
Accounts Deposits
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.
eToro copy trading
Beginner Support
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.
The Pros
– 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.
The Cons
Well I couldn’t find any except that of course you could lose money, but hey, that’s part of trading! 😉
My Opinion
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 !
[Best_Wordpress_Gallery id=”7″ gal_title=”eToro”]
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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Another Alternative
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 sarah@successfulbusinessonline.org, I will be more than happy to connect!
Cheers
Leave a Reply
12 Comments on "What is eToro About?"
Hi, your programs are definitely worth to check out. Perfect. Nemira.
Thank again for your kind words. If I could be of any help with my reviews, then I am happy! Good luck with your online business! Cheers =)
I have tried this etoro social trading and I can say it could work but some investment
You can’t invest 50$ in to copy other traders. This needs more.
Also there are many other ways to invest in forex without trading as investing in what called PAMM account which is available in many brokers now.
The best advice I came out with forex investment is to only copy traders who set a stop lose and making profits.
The initial investment on eToro is actually low, traditional traders would recommend at least a 1000$ initial investment… Thank you for sharing your opinion on here! Do not hesitate if you have more advice, especially on who to copy ! =)
Best wishes
Sarah
Nice review Sarah. I’m taking the chance with eToro. Not putting money yet but let me feel around.
Sure, you can try their demo account… Forex and Binary Options are risky. They are legitimate ways to earn money online but without the proper knowledge it’s easy to lose a lot of money lol.. so take your time ! =) And welcome to eToro!
Cheers
Sarah
Really nice, I am reading a lot about eToro! So far this review has me excited!! Thanks for sharing.
Hey =) eToro is a cool platform yes. I am still using it but a few months ago I started learning binary options and it’s finally paying off… =) I’m using IQ option at the moment but I will change platforms and go to 24options, which is in my opinion the best platform to trade. They allow bigger trades and the withdrawal process is easier… also they are regulated.
But anyway… I hope you have much success at eToro or at whatever you chose to do ! =)
Cheers
Sarah
Hey Sarah, you have a beautiful blog. I tried eToro’s affiliate program, but unfortunately they don’t allow USA which prevents me from capturing success on my own blog. Its very good though, in my opinion and this article was amazing. 😛
Hey Randy! Thank you very much ! =) Yes eToro is legit and easy to use but unfortunately not regulated in the USA… there are other platforms though that you can use. I recently started using another platform called Trader’s Way and I love it.
Let me know if you can use it. Are you a trader?
Cheers
Sarah