eToro was founded in 2007 in Cyprus. This broker focuses on copy and social trading. It has had significant growth in getting more than 10,000,000 clients worldwide ever since. Currently, it has also provided a cryptocurrency service. Here are the details of eToro review.
The Popular Features
The most popular feature from eToro is the ease uses of its platform. That is why the clients can easily use the copy trading in that platform. There are a lot of traders within the platform that clients can copy anytime. All of those traders also follow risk-control rules.
By the copy trading, the clients can automatically mimic trades and trading strategies from the most successful trading there, in real-time.
You may also find this same feature on the other brokerages, however, there are no other brokerages who have been successfully integrating it with social media.
Yet, this main copy trading feature can’t guarantee your successful trading.
Other than that, the website is specially designated for those with a limited understanding of forex and cryptocurrency trading.
If during the trade, clients find problems they can just easily use a ticket or chat the system to solve the problem.
The Minimum Balance and Withdrawals
To open an account in the platform, traders need to at least have $200 ($50 for U.S. and Australia). Yet the withdrawals are higher than the average, which is at $25 plus banking costs.
The withdrawal may seem simple. Yet, the lack of connection to technology may cause many problems for more advanced traders.
That is because eToro doesn’t provide hook up third-party algorithms and software, like MetaTrader 4 Expert Advisors.
This main lack ness and the wide spreads usually become the main reason of why higher-skilled traders choose other brokerages.
Pros
- Social/copy trading platform
- Impressive cryptocurrency catalog
- Robust charting
Cons
- Little customization
- No standalone version
- No streaming news
