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eToro Broker Review 2018

The Forex Broker eToro has been attracting a great deal of attention on the German market for years, because the company has set itself the goal of keeping forex trading as simple as possible. For this reason, the Forex Broker eToro has focused its offer primarily on traders newcomers and traders with little experience. This also includes the free and unlimited demo account. Forex Broker eToro is backed by RetailFX Ltd., a company based in Cyprus and regulated by the European Union.

You can also open an account with XM broker and get a $5000 bonus.

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The Web Trader platform of the Forex Broker eToro is not only user-friendly but also available in 12 languages. Traders also have an OpenBook for social trading and other applications for trading on the go with iPhone, Android smartphones or iPad.

Forex Broker eToro offers some unconventional trading methods to traders with its software. Among other things, there is a currency marathon which graphically depicts the race of different currency pairs. With Forex Broker eToro, the trader can also trade with Forex Trends, meaning that individual trades are executed only on the basis of certain trends. Forex Match is especially interesting for newcomers, as the trader can set limits for gains and losses. One of the most popular Forex Broker eToro platforms is the OpenBook. Unregistered traders can also view this OpenBook to see which trades have just been started by other traders. The top performers are displayed on the right-hand side of OpenBook.

Traders making their first deposit at Forex Broker eToro will receive a bonus on their trading account. Depending on the deposit amount, this bonus can be up to 1000 Euro. The bonus is available immediately after depositing on the trader's trading account. At the same time, this bonus is another trading buffer against losses on the trader's trading account. The bonus amount always depends on the deposit amount of the trader.

This means that the bonus conditions for the Forex Broker eToro are moderate. To unlock the bonus, the trader must trade at least 10 mini lots in real money mode. This condition is valid for 10 Euro of the bonus. Traders must bear in mind that they are not allowed to make a withdrawal request before reaching the bonus conditions. If this is still the case, the bonus expires completely.

After opening an account, the trader deposits 600 euros into his trading account. The Forex Broker eToro gives him a bonus of 100 euros, so that the trader now has 700 euros to trade. If the trader would deposit 1000 Euros, he would receive a bonus of 250 Euros.

The deposit options for traders to their trading account with Forex Broker eToro are fast and easy. Due to the many deposit options, every trader will find the most suitable option for him.

If the trader wants to make deposits via credit card, PayPal or Skrill on his trading account with Forex Broker eToro, then only a maximum of 5000 Euros is allowed. If the trader pays via Neteller and 1-Pay, he can deposit a maximum of 10000 Euros into his trading account at Forex Broker eToro.

If the trader submits a withdrawal request to Forex Broker eToro, processing may take up to 5 days. Compared to its competitors, the Forex Broker eToro is a bit slow here. There are also processing fees, depending on the amount paid out. If the trader requests a payout between 20 and 200 euros, the fee is 5 euros. If the trader decides to make a payout between 200,01 and 500 Euro, he has to pay 10 Euro fees and from 500 Euro the processing costs 25 Euro at Forex Broker eToro.

For a forex broker, the spread is one of the most important criteria because it defines the transaction costs. Forex Broker eToro trades currency pairs from 2 pips upwards. The leverage is usually 1:50, but levers of up to 1:400 are also available for other trading options. This allows the trader to take a risky risk with Forex Broker eToro.

Forex Broker eToro relies more on quality than quantity for the currency pairs offered. For example, the Forex Broker eToro offers only the 16 most important currency pairs, which is usually sufficient for traders. Especially beginners traders are not really interested in exotic currency pairs, as the spread is often up to 16 pips. In addition, Forex Broker eToro offers a small selection of different commodities such as silver, gold and oil. Traders can also trade with the Forex Broker eToro with six different indices and around 50 stocks of well-known companies.

Forex Broker eToro offers social trading services to enable beginners to benefit from the experience of advanced traders. This allows traders to learn about the activities of the professionals and analyze their behavior at the same time. If the newcomer thinks that the professional has chosen a good option, the trader can use the software of the Forex Broker eToro to help new traders decide to copy the trader's activities.

If newcomers watch the Forex Broker eToro commercial, they will be asked to join the community and invest their money in a clever way. It is therefore clear that the target group of the Forex broker eToro is not made up of savers looking for a safe investment, but rather of investors who are willing to take risks, who like to speculate on the one hand and want to participate in the profits of already successful traders on the other. Experts believe that only CFDs are traded on the Forex Broker eToro platform. These are contracts for difference. This refers to securities that reflect the price development of stock market barometers, shares, the DAX or a currency pair. This may not sound uncommon, but the trader should know that CFDs only work with a lever.

This means that if a stock gains 10 %, the CFD owner has an even greater profit from the lever. Of course, this also works in the other direction if the stock loses value. Depending on the lever selected, the trader has a higher loss, i. e. a risky possibility of trading. The Forex Broker eToro doesn't care, because the broker earns money from the turnover generated by the traders on the one hand. The more traders trade, the better it is for the Forex broker eToro's business.

If traders want to convince themselves of the features of the Forex Broker eToro without risk, then they have the possibility to use a free and unlimited demo account. Forex Broker eToro provides traders with a virtual credit balance of $10,000. The demo account also entitles the trader to use the OpenBook and the Web Trader.

If the trader opens a basic account with Forex Broker eToro, he has to make a minimum deposit of 50 Euros. From a deposit of 20,000 euros the trader has access to a premium account with Forex Broker eToro. The Premium account offers the trader the advantage that he gets a free data feed via eSignal, which allows the trader to trade from the charts. In addition, the owner of a premium account with Forex Broker eToro benefits from a personal account manager.

The customer service of the Forex Broker eToro is positive. Traders can reach customer service at any time by phone, email or live chat. Furthermore, the Forex Broker eToro offers free training programs and webinars.

The trader can open a trading account with Forex Broker eToro in just a few steps. In the first step, the trader chooses a user name and password. The trader must then verify the account and enter his or her contact details. The next step is to enter the trader's previous experience and professional status. Once the trader has made these entries, he/she must confirm to the Forex broker eToro that he/she is aware of the risks of Forex trading. In step five, the trader must verify his or her phone number via SMS or voice message. The trader can then enter the activation code and carry out his identification. To do this, the trader must upload a copy of his identity card and a utility bill. Once all these steps have been completed, traders can make their first deposit on their trading account.

The Forex broker eToro has so far proved to be extremely serious. The broker is registered in Cyprus and is therefore subject to the strict requirements of the European Union. Among other things, the requirements of the EU stipulate that client funds must be managed in separate accounts. Customer deposits are also protected by the statutory deposit insurance scheme. In addition, the extensive and German customer service speaks for itself.

The Forex Broker eToro is especially suitable for traders who deal with forex trading for the first time. The software of the Forex Broker eToro impresses with its ease of use and user-friendliness, yet it offers the trader all the important features for a detailed chart analysis. Of particular note at Forex Broker eToro are the many seminars and instructional videos, which explain the topic of foreign exchange trading to traders in particular to beginners step by step.