Overview of eToro Forex Broker
The market conditions have been evolving and becoming more challenging, with competition dominating the world of forex trading. Even during times like these, one broker which has managed to stay in the game and has continued to provide excellent services would be eToro.
You can expect a number of advantages as an eToro customer. They allow new traders to replicate the trades of experts via eToro Openbook. They also feature the Guardian Angel software with the help of which traders can trade responsibly. However, more tools exist which customers can totally take advantage of and trade well.
The trading platform you will gain access to as an eToro customer is pretty user-friendly. There are three different types of trading platforms offered, which are;
- eToro WebTrader
- eToro Mobile Trading Platform
- eToro OpenBook.
It is said that the letter “e” in eToro refers to “easy”.
Types of Trading Accounts
Users can choose from four different types of trading accounts to get started with eToro. It is the minimum deposit that differentiates how you can get a particular trading account type.
- Bronze Trading Account is an account for new traders and requires a minimum deposit of just $1000.
- Silver Trading Account which is ideal for intermediate traders is also available.
- Gold Trading Account for advanced-level traders.
- VIP Trading Account is for professional-level traders who can make an initial deposit of over $20,000.
Commissions and Spreads
Only a select few Forex brokers spare their customers from commissions and fees, and eToro is definitely one of them. Instead of charging commissions, they charge spreads of 2 pips or more. The rollover trades which remain unclosed overnight are free of any sort of commission as well.
eToro provides one of the best customer services out there and has a dedicated support staff which can be reached via email, live chat and phone. They are available on a 24/5 basis. There is also a “self-help” facility provided by eToro that offers a treasury of information. Users can access the exclusive and special ‘eToroPedia’ in order to gain information regarding any inquiries or questions they may have about online trading.