Etoro Webtrader Review

Etoro webtrader has left quite an impact on the way investment platforms work: Etoro traders are more than a cog in the etoro forex machine – they are the Etoro. The thing is, ever since FX regulation stepped down a few notches, there has been an explosion of online traders, but Etoro webtrader has managed to change the game itself with its revolutionary concept of social investment platforms. Prior to 2010, no trader, even an Etoro trader, could easily replicate a successful trading strategy; not without a serious background in finance anyway. This Etoro review will tell you more about the history of this broker, as well as several of its key aspects, including: Etoro login, Etoro demo account, Etoro trading and Etoro forex. One thing is for certain, Etoro Webtrader sure has a lot riding on this venture.

Complete Etoro webtrader Review

Etoro Webtrader Account Types

No Etoro review would be complete without the layout of the basic accounts it has to offer. Those who decide to go through the Etoro login sequence and sign up, they can choose between two types of accounts: standard and Islamic. The standard account is pretty straightforward, as it offers full, unrestricted access to all the trading instruments that Etoro webtrader has to offer. Opening an account requires a $50 deposit (minimum, non-negotiable) an array of options for funding your account is quite impressive: Apart from credit cards and wire transfer, PayPal is also supported, and so is MoneyGram, WebMoney and Neteller – no Skrill, though.

Withdrawing your earnings is just as easy, once the account details have been verified, of course. There are few conditions, though: no payouts under $20, a 5-day processing period (that is, 5 business days!) and there is a small fee, up to $25 (it depends on the amount that is being withdrawn). Of course, those who wish to honor the Shariah law can opt for the Islamic account instead. The general trading principles are the same, although there are some differences. For one, interest and commissions are omitted altogether, as those violate the tenants of Muslim faith. Of course, this also means the initial deposit needs to rise in order to cover the costs – if you wish an Islamic account, it’ll cost you $1,000 minimum, on par with the policies of Etoro webtrader.

etoro forex broker

Another neat feature is the Etoro webtrader demo account. Those who wish to sample what they are getting into can try out this fine learning device, completely free of charge, and with zero commitments on their part. The users of Etoro demo account get $10,000 in virtual money to trade and learn the ropes. Naturally, all the gains will be in fake money as well – those who wish the real thing will have to sign up for real, same as everybody else. It is still a nice feature, though.

Etoro Webtrader Commissions and Spreads

Etore webtrader does not believe in commissions; they believe in spreads. This is why theirs are somewhat larger and range from 1 pip on Bitcoin transactions to 2 pips on the UDS/JPY and 3 for most other major FX currencies. These are minimum spreads, of course, and are subject to change, if the market situation requires. Of course, more exotic currencies draw far bigger spreads as well, ranging up to 14 pips in some cases. The leverage of 1:400 is relatively standard, but there you have it.

Etoro Webtrader Platform

Etoro webtrader is considered one of the founders of a new direction in web trading, and this was achieved by focusing its trading platform on social trading. What made their OpenBook platform so successful was that it enabled all of its users to adopt new and successful trading strategies, which finally leveled the field of FX trading. This really helped them stand above their competition to such an extent, that many adopted their policies to some extent and have continued to practice them to this day.

Always the innovators, people behind the Etoro webtrader have launched additional trading platforms. In addition to the aforementioned eToro WebTrader and eToro OpenBook, there is a Mobile Trader app that enables FX trading on the go. Today, the OpenBook platform enables traders to monitor and contact each other, much like the users of social networks interact with each other. Of course, the “Copy Trader” feature is still there, and you can automatically copy other traders within a certain set of parameters that you have to set yourself. This is not entirely without risk, however, as traders who willingly forsake control over their trades still face possible negative effects of bad trades that they are no longer able to avoid.

What makes eToro WebTrader special, though, are its analytical potential as well as the ability to synchronize with the OpenBook, therefore increasing its efficiency exponentially. Finally, the eToro Mobile Trader app brings the power of Smartphones and social networks together, making its users fully mobile and enabling them to trade as they go around their everyday routine. The latest additions were commodities and stocks that enriched the already abundant offer. Customer support is available around the clock, although only on business days, via live chat, email and over the phone.

Conclusion on Etoro Webtrader

Etoro Webtrader and/or the platform is a revolutionary broker whose specialty are the rookies, as seen by their user-friendly yet somewhat rigid platforms that are really effective and empowering, for a newbie, while more experienced traders may search for other challenges elsewhere. Don’t let it slip, this is an excellent broker, with versatile accounts and a generous learning curve, and it has already made history; but the history has not ended yet.

For more information, visit Etoro’s official website.

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