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eToro Review

eToro Forex Broker

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.

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.

Find them at http://www.etoro.com

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Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts