eToro Review: Advantages and Disadvantages
The prominent worldwide social trade-resource eToro that was originated in 2007 in Limassol, Cyprus, is a chief social-net with more than 6Mln members. Actually European supervisory bodies control it. This platform allows Forex traders to process and use all information, based on the experience from other traders. Moreover, they have an opportunity to conduct their private business communication with a help of patented eToro service with auto-fixation their results.
Accounts and details
EToro recently raised its minimum invest to $ 200 for the Arab regions.
The important point while deciding to join to Forex are costs of trading, divided on categories (spreads and commissions), which are published regularly and some of them don’t take commission, but show what was earned.
The status of “Popular Investor” gets the one who can do a work absolutely without spreads at all. If the trader copies a technology of another trader – he is not charged any fee for this. It is offered to share useful information with each other and develop your knowledge. Those who use only trial version of Etoro have access only to see the site, but basic operations are available only for real traders.
One of the uncomfortable factors is the location of such an option as practice account that was added to the“Ask a Question”, because those who did not read this section can skip it.
Regulation and License
eToro (Europe) registered by Cypriot Investment Firm (CIF). The company’s registration number is HE20058. eToro Europe is regulated by the Cyprus Securities & Exchange Commission (CySEC) under license number 109/10. In the UK company registration no. 7973792 is authorised and regulated by the FCA, firm reference number 583263. In Australia, ABN 66 612 791 803 is the holder of an Australian Financial Services Licence (AFSL) 491139 issued by the Australian Securities and Investments Commission (ASIC).
Features and Apps
Users may take an advantage of the almost direct execution of market orders and the absence of daily withdrawal limits and invest in different markets. There are also represented a function of bitcoins, however on the contrary to another bitcoin brokers, traders have BTC only as a stock, and not as real currency.
Traders also may create portfolio of crypto-currencies, stocks, commodities, ETFs funds and other instruments are offered, such as installation eToro APP on mobile or notebook, although they still don’t have updates, so APPs don’t provide fully access to the all of tools.
Deposits/ Withdrawals at any time
Traders can take and put money at any time, using international electronic payment system (WebMoney, PayPal, credit cards etc.).
Promotions and Facilities
Because of regulatory restrictions, eToro doesn’t provide traditional bonuses, but only utilization of special discounts and reductions observed at program, recommended by eToro.
Education and language
With a help of educational center by eToro all knowledge about trading could be improved, taking all types of courses, which are conducted in available language. Besides they notify regularly about all recent news in trading sphere.
Customer Support and calls
eToro guarantee a customer assistance 24/5, including free-calls for UK, Cyprus and New Zealand citizens and asking for a help in any language.
Conclusion about Etoro
Nowadays they position themselves as the most multitasking social network, convenient for investments both for beginners and for experienced users. However, it has its both advantages and disadvantages, and today users still cannot give absolutely a certain evaluation of eToro.