- 1 eToro – What is it?
- 2 What does the eToro software promise?
- 3 Is eToro licensed/authorized and regulated?
- 4 What are the eToro fees?
- 5 What can I trade with eToro?
- 6 Is there an eToro bonus or minimum deposit?
- 7 Is eToro fraud or serious?
- 8 What should I pay attention to with such programs?
- 9 General eToro Test
- 10 General eToro reviews
- 11 What are the opinions on an eToro payout?
- 12 Is an eToro download necessary?
- 13 How do I access the eToro Login?
- 14 Is there an eToro demo account?
- 15 eToro
eToro – What is it?
eToro is an internationally active broker offering trading in numerous trading instruments such as currencies, shares and ETFs. This also includes an extensive range of crypto currencies such as Bitcoin, Ripple or Dash. The opening of a trading account is possible for both private individuals and companies. The broker is also considered one of the co-founders of social trading. Here you can follow the live feeds of the most successful traders and copy them 1:1. Trades and trading strategies are visible, allowing beginners to develop a better understanding of trading or to familiarize themselves with new trading options such as digital currencies. All trading via the platform is carried out online.
If you have any questions, support is available by e-mail or chat, but unfortunately not by telephone. The trading platform charges fees in the form of spreads that become due on sale. As a result, the Forex broker finances his company to provide all trading related services such as support or prompt payouts. Registered in Cyprus, the broker is subject to the regulations of the local financial supervisory authority, which tends to indicate a serious business policy of the regulated broker.
What does the eToro software promise?
The software used by eToro has two different versions. In the demo version, trading strategies can be worked out and virtual bets can be made on bass of real development. A real trade does not take place, all profits and losses serve therefore preferentially the purpose you first with the use of the eToro to make to be able. In the live version the current prices are displayed, so that the developments have a direct influence on the placement of the trades in real time. The eToro is available via the website as well as via app. The use of the software directly on the desktop was possible in the initial stages of the platform in the years 2007 to 2012. In the meantime, these downloads are no longer offered. The price development is clearly displayed, giving advanced trades all the information they need and not discouraging beginners.
The current trades and your own history can be viewed separately. This allows either to act quickly or to invest a little more time in the respective considerations. Before each trade is concluded, not only the amount invested but also the risk and security mechanisms such as the stop-loss function are determined. This allows you to exercise maximum control over the individual trades and not rely completely on the decisions made by software as you would when using a trading robot. Use this link to create a demo account!*
Officially registered is trading platform both in Israel, as well as Great Britain and Cyprus. There, the provider is monitored by the Cypriot Stock Exchange and Securities Commission, or CySEC for short. Normal customers register with the broker in Cyprus and make deposits into the account of a regulated broker. In addition, the broker offers premium memberships. This is the responsibility of the UK-based part of the company, which means that regulation is subject to the rules of the UK authorities. In the course of Brexit it is important for these customers to keep up to date, as current developments have a direct influence on the security of the amounts available on the trading accounts.
What are the eToro fees?
eToro charges different fees for the services offered. Deposits are usually free of charge. The first fees are not incurred on purchase, but only on sale of the traded currencies, shares or commodities. In this case, the respective spread is due. This is discharged automatically. The amounts noted on the account therefore correspond to the real balance of the account for a new bet or deposit. All current fees can be viewed transparently on the website before opening a trading account. By reading the contents of the website thoroughly, you save yourself surprises such as the costs charged for disbursements. Up to 25 US dollars per payout is due.
You can request withdrawals from an amount of 50 US dollars. So here you have to consider carefully whether you want to pay out your winnings immediately or prefer to wait until a higher amount is reached. Since the deposits and winnings on the trading account are displayed in one sum, it is important to keep track of them yourself. Otherwise, there is a risk of reinvesting the profits you actually want to pay out to yourself.
What can I trade with eToro?
Among other things, they are currently trading:
- foreign exchange
- EFTs and
- Crypto Currencies.
The mixture is very balanced and allows sufficient variety in trading. It is important for beginners to know that these trading instruments are only an offer. You alone decide which areas you know so well that you can realistically assess the risk of the trades. There is no requirement to place trades in all areas. Social Trading allows you to study the development of crypto currencies first and to study the strategies of other traders. In addition to the community of traders, social trading also serves to deepen risk management. By observing other traders you learn as much as you do when studying the markets and stock exchanges on a daily basis. When combined, it is easier to say goodbye to unprofitable investments or later share your experience as a trader with others. This cycle also ensures that trading continues to be an attractive investment and is not replaced by other investments. Use this link to create a demo account!*
Is there an eToro bonus or minimum deposit?
The minimum deposit for the first deposit is between 200 and up to 10,000 US dollars. The latter amount refers to the minimum deposit for companies. The amount of the minimum deposit for private investors also depends on the country from which you register. For Germany, the current minimum deposit is 200 euros. The maximum amount for non-verified accounts is $2250. To verify the account it is necessary to prove both your identity and your current address. Both are among the regulations to which the trading platform is inferior in order to prevent money laundering or other dubious transactions. An official identity document can be scanned and uploaded to eToro for verification.
It may take a few days for the account to be officially confirmed. However, deposits up to the provisional maximum amount and trades can already be made. After verification it is also possible to pay in higher amounts. There are no fixed bonuses for registration with this broker. Instead, bonus promotions are offered at irregular intervals. These are available either to individual groups of users or to all two million users. On the other hand, the bonus of referring friends is offered all the time. Despite the tempting bonus, you should only recommend the trading platform to people who are financially able to cope with a loss in trading.
Is eToro fraud or serious?
Opinions and experience reports can be found online in a very high number. Since the provider has been active since 2007, the comments also show the development of the provider. At the beginning, users complained, for example, about increased software failures and problems contacting support at short notice. With the abolition of desktop software in 2012, reports of software handling problems have become increasingly rare. The social trading platform is thus quite critical and is looking to bind the existing traders to it in the long term. Usually fraudulent reports such as high initial deposits, calls to deposit further amounts and denied withdrawals are not included in the comments.
When the word fraud is used, it very often seems to be the frustration of losses. However, since the provider fulfils the obligation to inform about the risks, the seriousness is only slightly harmed by these comments. Interesting, however, are opinions that draw attention to the growing number of brokers from Cyprus. The fund available there to secure deposits in the amount of 20,000 euros would only inadequately protect investors due to the increasing number of providers. Here, however, the government of Cyprus would first have to make improvements.
What should I pay attention to with such programs?
The quality characteristics of brokers differ only insignificantly depending on the provider. So that you can be sure that you have made the right choice with your registration, here you will find out which points you should take a closer look at. These include:
- Data security: Nobody wants to be overwhelmed with spam after registering with a broker. The transmission of your own data to third parties should therefore be clearly marked. With the presented offerer there is no indication that this operates a lucrative secondary business by the sales of data for example. Instead, eToro even provides its own software for uploading ID documents. Access by unauthorized third parties is thus already prevented in the initial stages of a hack. If payments are made via an external payment provider, it is always advisable to inform yourself beforehand about its seriousness.
- Regulation: Regulation by the authorities of the governments of Cyprus and the UK balances the profit motives of brokers and the interests of investors. Should you ever have a reason for a complaint, legal action cannot be ruled out in case of doubt. Because regulated brokers also need a good image, it is in eToro’s own interest not to jeopardize the reputation by making negative headlines about problems with the relevant authorities.
- Transparency: Demonstrating transparency also means drawing investors’ attention to the risks involved. This social trading provider places these references very visibly in several places on its own website. This also includes the indication only to pay amounts whose total loss would be economically bearable. On the other hand, the provider provides a wealth of easy-to-understand information in the form of FAQs, videos or online seminars. The broker does not throw the investors into the cold water, but makes an active contribution to lay the basis for clever trading strategies.
General eToro Test
The first step is registration. Here you can choose your trading account and a demo account. For both, it is imperative not to enter any fantasy data in order not to risk any problems with payouts later on. In the next step you can either use the fictitious amounts of the demo account or make a deposit to a real trading account. The latter is possible by charging the credit card, a bank transfer or the use of financial service providers such as PayPal or WebMoney. From this point on, the first trades can be made or the Social Trading option can be explored in more detail. eToro also offers membership in its own club. From Bronze to Platinum, every membership has certain advantages. However, membership is not obligatory for trading in crypto currencies and the like.
General eToro reviews
Opinions on platforms such as Broker-Bewertungen.de are very balanced overall. The very good clarity of the software is described as consistently positive. Experienced traders can familiarize themselves with the use of the demo account even without using it. The authors, on the other hand, have different experiences with support. This is German-speaking and polite throughout, but sometimes difficult to reach. In case of problems which are connected with a certain time pressure, it is correspondingly more difficult to find this patience. More customer reviews can be seen here by clicking this link! *
What are the opinions on an eToro payout?
As far as the payout is concerned, positive comments are preferred. The fast payout is praised again and again, so that requested amounts are already credited to the account the next day. Problems with the withdrawal are only described if the account has not yet been verified. Only after this disclosure of identity with an official identification document will the requested amounts actually be released. Some former users also had problems after deleting the account. The amount due after twelve months for unused trading accounts was charged. It is therefore advisable to keep a close eye on all debited amounts even after closing the account in order to quickly object to unauthorized debits.
Is an eToro download necessary?
Currently, a download is not required to use all functions from social trading to trading in crypto currencies. The software is conveniently used via the login on the website. An app of the trading platform is available for mobile trading. You can download eToro for free from the Google Play Store or the Apple App Store. Despite the very small screens, the app is designed so that the current courses are easy to check. Trades are therefore not set on the way without carefully weighing up the decision beforehand.
How do I access the eToro Login?
The login is easy to reach via the website. From there, users can access the real trading account or the demo account. Another option is to log in via Facebook or Google. This eliminates the need to enter data each time, making spontaneous review of courses even easier.
Is there an eToro demo account?
The eToro demo account allows you to place fictitious trades based on real price developments. The starting credit is also only available virtually and cannot be paid out. The aim of the demo account is to familiarize you with the use and to prove the seriousness of the provider. There is no time limit for the use of the demo account and no costs. Especially if social trading is unknown to you, the demo account gives you the chance to get to know the associated functions in this area as well. The first beginner errors do not have to be made with the demo account under real conditions. The chances to crown the trades with a profit are therefore higher than without the provision of a demo account.