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eToro
is a relatively new forex trading platform that has quickly
captured the attention of forex traders worldwide to become
the number one most visited forex platform according to recent
Alexa statistics.
eToro
is truly a unique platform that offers a more visual approach
to forex trading combined with competitive broker terms. With
the launch of the eToro expert mode they have branched out to
reach the expert trader crowd, whereas before the platform’s
appeal was mainly towards novice traders looking to learn forex
trading for the first time.
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eToro
is also unique in its community features such as public and
private chats, forums and free to enter trading challenges.
Strengths:
- Good range of
forex tools presented in a user friendly visual interface.
- Traders can open
an account with as little as $50 and trade with up to 1X400
leverage.
- Accurate live
currency rates and fast trade execution.
- Educational tools
for novices such as forex guides, video tutorials, forums
and an unlimited practice mode.
- Low spreads of
3 pips on most currency pairs.
- Platform is fully
localized in many languages including French, Italian, Arabic,
Spanish, Russian and more.
- Great customer
support around the clock.
Special Features:
- Top
Traders’ Insight enables you to see what trades eToro’s
top 100 profiting traders are making at any given moment,
so you can simply cheat off them instead of doing your own
market analysis.
- Various visual
trade representations make forex easily comprehensible for
beginners.
- The platform
includes community tools such as personalized profiles, public
and private chats and forums.
- eToro holds weekly
trading challenges for cash prizes, both in real trading and
in practice modes. All traders are entered automatically.
Basically,
eToro
is designed to facilitate the career of a forex trader from
the day he first learns what the word forex stands for (foreign
exchange, in case you’re not up to that step yet) till
the day when he’s opening multiple positions in one click
trading mode and setting trading orders like a pro while checking
out the next big event on the forex calendar. In other words,
this platform has something to offer for everyone, largely due
to its general simplifying approach and its excellent trading
terms.
If you still
have the need to feel like a forex hot shot by using a platform
that’s too complex for a novice to understand and by trading
exotic currencies that no one’s ever heard of, maybe you
better stick with what you’ve got. But if you’re
looking for usability, simplicity, wide leverages and low spreads,
you should definitely give eToro a shot. If you’re a novice,
then there’s no question you should head right for eToro.
You won’t
find another platform that has the conditions and the software
that are better suited for those of you just starting out in
forex. Overall, the eToro
platform is fresh, unique and professional at the same time.
Two very enthusiastic thumbs up.
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