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  5. Is eToro a Scam? Read This Brutally Honest Review

Is eToro a Scam? Read This Brutally Honest Review

EToroX comes with all the features you’d expect from an institutional-grade exchange, including U.S. dollar deposits, margin trading, trading APIs, and fast execution. These features make it a suitable trading platform for professional and institutional traders. EToro’s social trading is the main thing that stands out about them. They’ve been the first to do it and still the best at it. Apart from that, we can mention their CopyPortfolios, which is an offering that takes copy trading to the next level. Each CopyPortfolio aggregates various assets or a group of traders and is constantly optimized by machine-learning algorithms. Over the course of its long history, this broker has its share of complaints but that’s happened to all brokers and even more to those with 7 million clients.

  • My account manager, Varun Sehgal, is a great guy who checks in regularly and was a great host at an event I attended recently.
  • You can complete this part by using any of the online payment methods that the platform accepts.
  • No commissions are charged for the shares, note that in Australia only US shares are available without commissions.
  • This includes each and every stock that is publicly-listed in the US – plus OTC (Over-the-Counter) shares and IPOs.

As a currency trader or investor, you may have specific needs related to which platform, tool, or research requirements you have. Understanding your investment style can help determine which fx broker will be best for you. A currency trading platform is a type of trading platform used to help currency traders with forex trading analysis and trade execution. It allows me to get insights dotbig forex from other traders from all over the world. I also get to exchange ideas with them, which allows me to grow as a trader. Trading conditions with eToro are one of the best in the business, plus they have superb trading platforms, my trades are executed fast. Cash funds deposited by U.S. investors are protected against platform failure for up to $250,000 through FDIC insurance.

Please be aware that this might heavily reduce the functionality and appearance of our site. In order to get around fraud, we have checked the following providers thoroughly. In our reviews, we will show you secure CFD and Forex Brokers which provide you with the best conditions for trading. For example, it is very important to choose a cheap provider when you do day trading because the trading volume will be very high. Furthermore, there should be a possibility to contact your broker in different ways. Most brokers offer support via phone, chat, or email 24 hours on normal working days.

Unsure if this broker is for you?

All accounts newly opened by users must pass through the verification stage. The system uses advanced tools to detect possible bots or fake accounts. Also, they may require a short video call and proof that you have been living at the address https://www.ig.com/en/forex you provided for over three months. You can show that evidence by providing receipts for utility bills. After completing these verifications, you will receive a notification from the platform that you can proceed to start using your account.

honest reviews of forex broker Etoro

To finish and be able to access all the benefits, you have to verify your account. Add your personal details (e.g. name and passport number), your investment experience and confirm your phone number . This asset class is characterised by investing in whole indices to capture the performance of the entire market. For example, with eToro you can invest in ETFs that invest in the entire S&P500, European https://forex-up.com/broker-reviews/dotbig-review/ FTSE or in the public and private debt of the world’s major countries. EToro allows you to invest in fractional shares, you don’t have to buy the whole share. This means that the shares aren’t actually in your name, but eToro internally it allocates them to you. This will allow you to buy bits of shares (e.g. $50 worth of Tesla shares instead of the more than $500 that cost at the moment).

Customer Support

This means that you can learn the fundamentals of buying and selling financial instruments without needing to use an external provider. Supported stock CFD markets include Australia, South Africa, the US, the UK, Germany, France, and more. On top of offering low fees and a huge CFD asset library, Plus500 is also popular dotbig.com testimonials with traders that seek leverage. Although the platform comes packed with real-time pricing charts and several order types, Plus500 is a bit weak when it comes to technical analysis. For example, if the trader allocates 3% of the portfolio into Apple stocks and 2% into IBM, your portfolio will do the same.

honest reviews of forex broker Etoro

Yes, money on eToro is insured up to 1 million euro in case of bankruptcy. In my opinion the safest way to use eToro for beginners is to rely on the copy trading service. dotbig.com testimonials EToro cannot guarantee 10% per month or similar nonsense! I advise you to stay away from those who promise guaranteed returns on eToro, because this is not possible.

Should I Open An Account With eToro?

Generally, eToro offers a standard value for different types of deals. For example, you may pay up to 0.5% or more as the spread on crypto deals. Also, the spread for forex deals is about one pip, and valuable metals start from 2 pips. Many of the reviews written by active users indicate that you will not pay any charges on stocks or ETFs that you trade using eToro. This is a huge advantage because many other platforms charge fees for such services. Another way is to find the most successful traders on the platform and copy them. The copy trading structure on eToro is only manual, as fully automated trading systems like the ones available on MetaTrader, are not permitted.

eToro Features

EToro Ltd – UK – is regulated by the UK financial authority, the FCA . In addition, there is financial information publicly available on the company. Citizens of the United Kingdom can open an account at eToro Limited and thus they will be protected by the FCA. If eToro becomes insolvent, eToro UK clients can expect to be compensated by the maximum amount of £85,000 guaranteed by the Financial Services Compensation Scheme . The content discussed is intended for educational purposes only and should not be considered investment advice. EToro’s charting tool is quite good and you can use many, around 70 technical indicators. We liked that charts are automatically saved, so you don’t have to waste your time setting up your indicators time and again.

Lower fees, lower costs?

For example, the minimum deposit is just $200 and you trade from $25 upwards. https://www.indeed.com/cmp/Dotbig-Ltd. In terms of what assets you can trade, eToro supports several asset classes.

Trading fees

The first deposit here is small, many trading positions and tools. There are no commissions and the operation is quickly executed.

For example, some providers only allow you to obtain assistance via email or an online support ticket. These platforms should be avoided, as it can often take days to receive a reply. For example, the best online trading platforms also offer ‘stop-loss’ and ‘take profit orders. Both of these are crucial for trading in a risk-averse manner. Then you have that all-important ‘trialing stop-loss’ order. Offered by trading platforms like eToro, this allows you to keep a profitable position open until it goes down by a certain percentage.