Etoro Brokerage is a dealing center registered in Cyprus and offering one of the world’s largest social trading networks. EToro’s geography includes offices in Australia, the United States of America and the United Kingdom.
EToro is licensed by several regulators at once: The Financial Services Authority of Great Britain, Cyprus Securities and Exchange Commission, The Financial Crimes Enforcement Network of United States of America, Australian Securities and Investments Commission.
EToro trading information and conditions
EToro is not an ordinary broker. It is mainly chosen by investors, as it focuses on social trading. However, individual trade is also possible here.
Brokerage company Etoro provides an opportunity to open one of two types of accounts:
The main difference between the accounts is the level of protection of funds: for professionals, it is less. Unlike private traders, pros cannot take advantage of Compensation Fund insurance or contact the FOREX Ombudsman Service, however they can use higher leverage and have lower margin requirements.
Professionals have the right to be protected from negative balances resulting from changes in market conditions
A new customer is assigned retail status by default. By submitting an application to a broker, he can obtain the status of a professional. It is assigned:
- Credit institutions;
- Investment companies;
- Pension funds;
- Large business entities;
- Central banks.
Individuals can also be assigned the status of a professional. To do this, they need to submit an appropriate application and pass a test for the ability to understand risks and make independent decisions on the exchange.
The broker has the right to reject the request for transfer to another category.
EToro’s central office provides traders with the opportunity to work with:
- 13 indices (NSDQ100, DJ30, UK100, GER30, FRA40, AUS200, etc.);
- 46 currency pairs, including standard and exotic;
- 6 commodities (oil, gas, platinum, gold, silver, copper);
- shares of top companies;
- 16 cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, EOS and others);
- ETF funds.
There is no binary option in the arsenal of the offered instruments.
When working with any of the above categories, the client will be charged spreads, information on the value of which is presented in the table below.
|P / p No.
|0.09% (if a trader does not use leverage, no commission is charged)
You can learn more about the spreads for all available assets on the dealer’s website in the “Trading” section by going to the “Trading hours and commissions” section.
History of the EToro company (EToro)
The history of EToro began in 2007. It was then that she was founded and launched her first version of the online trading platform – “Visual FX”.
In 2009, the company creates a proprietary platform “WebTrader”. With its help, a trader can work on the exchange through a special page on the dealer’s website, while other dealing centers at that time offered mainly desktop terminals.
In 2010, EToro introduces the world “OpenBook” – the first social trading platform that allowed not only traders, but also investors to work on the exchange. Thanks to her, you can make money on the stock exchange even without experience in FOREX. One year later, OpenBook received the Best of Show award at Finovate Europe.
In April 2012, the company creates a mobile application that allows its clients to trade from their devices running on Android and iOS operating systems.
In July 2013, shares of the world’s leading corporations were added to the list of instruments. At the same time, EToro offers not only to conclude CFDs on shares, but also to purchase them.
In October 2015, the dealing center completely renews its online terminal.
In February 2016, EToro services were replenished with a new tool – “CopyPortfolios”, which is intended for long-term investors who want to maximize their profits by investing in the company’s best traders or promising assets.
After a year, clients get the opportunity to work with cryptocurrencies.
In July 2018, DC enters the American market, offering US citizens to work on Forex with a wide range of cryptocurrencies.
Forex training with EToro (EToro)
The official website of the dealer has an educational section, which consists of three headings:
- Live webinars;
- Training course for beginners;
- Educational videos.
Potential clients and part-time novice traders are probably interested in the cost of training in EToro. According to the broker, all classes, as well as access to training materials, are absolutely free. But don’t be in a hurry to rejoice.
The educational section on the DC website is not made in the most understandable way. When a user clicks on the link “View video materials” or “Select a training course”, the system redirects him to a page with a concise description of the benefits of online courses for traders. The materials themselves are missing in the headings. What this is connected with is unknown.
With webinars so far, the situation is also sad. As of the end of September 2019, there are no active webinars in this section.
DC does not conduct face-to-face educational seminars. EToro certificates of successful completion of training are not issued.
For all unclear points, the broker invites clients to contact the support center through the page of the same name on the website. On the same page, you can find answers to the most frequently asked questions by traders regarding the affiliate program, the community, verification, identifying and fixing technical issues, trading account, depositing and withdrawing funds, copying transactions, learning and trading cryptocurrencies.
Earning with EToro (EToro)
A trader can make money on Forex with a dealing center in three ways:
- Trade on your own;
- Copy deals of other traders;
- Invest in ready-made portfolios or traders.
To work independently on the broker’s authoring terminal, a trader must register on the site. You can preliminarily familiarize yourself with the platform and asset rates on the website by going to the “Market Search” section and selecting the “Markets” section in the menu on the right.
To help the individual trader, a short analytical review of EToro is published daily on the site. There is also a calendar of reports on the profit of companies, which allows you to predict the movement of the stock price of the company of interest to the trader. Of course, the DC’s website has an economic calendar highlighting the dates of the most important events for the market.
You can copy transactions using a social network for trading – a kind of EToro Traders Exchange. Thanks to this system, an investor can select a trader from anywhere in the world, connect to his trading account and copy transactions.
Both the investor and the personal trader of EToro are in a winning position: the former because he has the opportunity to make a profit on the exchange without analyzing the market situation and thinking through transactions, the latter can receive additional income, since the investor will be charged a commission for copying transactions.
An investor can choose a trader using a special rating on the site. You can also do this according to certain criteria using a special filter system that allows you to select a trader by name, country, profitability, degree of risk and other parameters.
EToro’s long-term investment is the CopyPortfolio project, which we talked about in the broker’s history section. It allows you to invest money in top traders and ready-made investment portfolios that can generate income for the investor without his intervention.
The project can also be useful for a professional manager who is ready to take at the disposal of another person’s capital and, using trading skills, bring him income, receiving a commission for this.
You can replenish your account and withdraw the earned funds using a bank transfer or the service of one of the electronic payment systems. Information on some of the methods of replenishment is in the table below.
|Country for which the translation option is available
|3-5 working days
|Up to 5 business days
|Up to a week
The minimum deposit amount is fifty dollars.
As for the withdrawal of money, it can take up to eight working days, depending on the method chosen by the trader. The minimum withdrawal amount is $ 50. Withdrawal fee – 25 USD.
You can learn more about the terms of deposit and withdrawal on the DC’s website in the “Trading account” section.
Work in EToro (EToro)
Working at EToro is an opportunity to build a career in a large international firm. Opening an EToro vacancy should be looked for first of all on the official website of the company. Today there are several dozen of them. The firm is looking for marketing, information technology, executives, administrators, account managers and human resources managers.
The company offers applicants decent working conditions and wages. The work schedule of EToro is usual – from 9 am to 6 pm. Saturday and Sunday are days off.
To get a job, you need to send your resume to the email address of the company.
Demo account EToro
A demo account is the same real one with all its functionalities, but with the only difference – instead of real money, virtual ones are used here. Such an account allows you to learn how to trade, evaluate the quality of a broker’s services and test trading strategies without risking anything.
Broker E-toro provides its clients with the opportunity to open a demo so that they can objectively assess the positive and negative aspects of working with the company.
Talking about EToro special offers, the whole truth about the broker is that it does not charge traders any commission if they work with stocks without using leverage. It is worth considering that for this, the trader must replenish the deposit by at least two hundred dollars.
The broker is responsible for paying stamp duty and financial transaction tax for Ireland, Great Britain, Italy and France.
EToro affiliate program
The dealer’s affiliate program is presented on a separate Internet resource – www.etoropartners.com.
The partner’s task is to attract new clients to the firm. To do this, the latter offers him a number of marketing tools: referral links, advertising banners, videos, widgets, and more.
Taking this into account, the broker’s affiliate program is primarily suitable for the owners of popular sites, pages on social networks and YouTube channels.
- The presence of the author’s trading platform and application;
- Convenient social network for copying transactions.
Cons of EToro:
- Trading in currency pairs is not available for residents of the Russian Federation;
- Lack of MT4 and MT5 platforms;
- Incomplete educational section;
- The company warns that 75% of its clients lose their money on FOREX;
- Weak analytical section on the DC website.
In the article, we tried to tell as much as possible about what EToro is and what EToro does. The main message of the article was that this firm is not so much a financial market broker as a social trading platform.
Thus, it will be more interesting to investors than traders. The latter, however, can also make good money here, acting as investors’ capital managers.
If you are a professional in the field of trading and are ready to be responsible for the money of other people, you can open an account here, allow one or more investors to connect to it and receive income by managing their money.