eToro Trading Platform
eToro is the world leader in Social Networking trading. The new CopyTrader feature allows you to build a portfolio based on the results of the most successful of the 1.5 million eToro traders.
- CopyTrader World's best social network trading
- User friendly interfaces
- Low initial investment
- Personal trading coaches
- Spreads as low as 2 pips
- No dealing desk
eToro Forex Trading Platform Review
Etoro is one of many European based FX platforms. Etoro prides itself on its community. The community is built via live webinars and live chat where you can talk to other traders to get a feel for what they are trading. This is particularly good for new traders who are trying to learn. Try their open books system to find out more. On this system you can follow the most successful traders.
eToro has built its own platform which is straight forward to use, you can place your first trade in about 2 minutes after downloading the software. As you can see from the graphic below, the software is extremely well set out. It comes complete with the well known technical indicators as well as the ability to draw a number of lines including trends, Fibonacci etc.
The one downside I would say is that I cannot seem to view multiple charts at the same time. Perhaps this is planned in a future upgrade.
The spread that eToro takes is pretty competitive within the industry. Spreads vary from 2 PIPS to 5 PIPS on the popular pairs. This varies according to the time of day and demand for each pair. eToro is particularly competitive on the lesser pairs with 8 PIPS taken on most of them.
eToro offer some of the highest leverage of all trading platforms. You can have up to 400/1 leverage. Of course with this amount of leverage, you must be careful when placing trades to make sure you know exactly what you are getting into. I suggest if you are a beginner trader you click on lower leverage amounts.
As far as we are aware, there is no rollover option for eToro.
Other features of Etoro
eToro has implanted trading competitions which are fun and free to compete in. You can earn cash prises if you do well in such competitions.