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Ratings

Overall Star Star Star
Commissions & Fees Star Star Star
Customer Service Star Star Star
Tools & Research Star Star
Ease of Use Star Star Star Star Star
Investment Offering Star Star Star
Education Star Star Star Star
Mobile Trading Star Star

Trade Commissions

Forex Trades* $14.00
Clearing Method* Dealing Desk
Broker Assisted* $0.00
Min. Deposit $50.00
Min. Contract Size Micro
Max. U.S. Leverage 50:1
Max. Int'l Leverage 400:1
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Typical Spreads

  • EURUSD3.0
  • GBPUSD5.0
  • USDJPY2.0
  • USDCHF3.0
  • AUDUSD2.0

Highlights

  1. Receive up to a $10,000 bonus when opening a new account
  2. Personal trading coach available to qualifying accounts

Account Features

  • Virtual Trading
  • No Minimum Deposit
  • No Maintenance Fees
  • No Dealing Desk
  • Online Trader Community
  • Investment Education

Mobile Trading

  • iPhone App
  • iPad App
  • BlackBerry App
  • Android App
  • Mobile Site

Customer Service

  • Phone Support
  • Email Support
  • Live Chat Support
  • 24/7 Customer Support

Trade Types

  • Stock Trading
  • FOREX Trading
  • Futures Trading

eToro Forex Review

Forex Broker Review

 

Likes - Interactive trading environment with trading competitions for both live account and demo account traders, including valuable prizes and awards.

Dislikes - eToro and eToroUSA are technically different companies, which presents a confusing situation for US based traders interested in trading with eToro.

Bottom Line - eToro caters to new traders looking for an exciting and interactive trading experience without a large initial investment. They may not have the tightest spreads, but accounts can be opened for as little as 50 dollars which makes them a good candidate for practice trading with small amounts of real money.

eToro  is the trading name of RetailFX Ltd, a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC). The Cyprus based eToro does not accept clients who reside in the United States. Instead US residents are referred to eToroUSA, which is operated by Tradonomi LLC, located at 1375 Broadway, 11th Floor, New York, NY. While the two eToro brokers are technically operated by separate corporations they do share a CEO and many of the resources, platforms, and trading conditions are the same (aside from US leverage being capped at 50:1). eToro offers a multitude of intuitive trading platforms for the web, desktop, and mobile environments. The platforms are designed to be intuitive to even novice traders, offering an easy to use interface but lacking in more advanced features such as market depth and strategy automation.

Commission Notes

Both eToro and eToroUSA do not charge commission for forex trades, instead they are compensated through the spread between the Bid and the Ask quotes for each respective currency pair.

Spreads - All eToro accounts have fixed spreads, making trading costs easy to calculate. Their EUR/USD spread is typically at 2 or 3 pips (depending on trading platform) which isn't much higher than most brokers.

Micro Lot Trading - eToro offers micro lot sized trading on all their account levels.

eToro was reviewed by StockBrokers.com on 2011-06-01 with an overall rating of 3 Stars.

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