Forex brokers like the eToro brokerage platform have gained a lot of popularity thanks to the increasing interest in trading Forex and CFD online. Ordinary people have expanded their knowledge and experience in the online trading field by opening accounts on such platforms.
But how to be sure that you are making the right choice for a broker? Easy – investigate. I have compiled a detailed review on the eToro broker – one of my top recommendations for Forex brokers currently operating in the industry.
I can assure you that this broker is not a scam. It has numerous capabilities, offers a wide array of opportunities, and is completely and strictly regulated. If you choose eToro as your Forex broker, you are sure to have a very satisfying experience on its enhanced and secure platform. To understand why, read my full review presented below.
Broker Name: eToro
Demo Trading: Available
Minimum Deposit: $200*
*Used by the investor to make trades, this is not a payment for maintaining an account on their platform.
Basics of the eToro Broker Platform
What has turned eToro into one of the most preferred platforms in the online trading industry is their very well-developed platform. Its creators have featured in both Social and Copy trading capabilities:
- Social Trading – this type of trading allows you to follow the content generated by the other investors using this broker as their partner. In other words, you can make full use of the ‘Wisdom of the Crowds’, see their portfolios, the news they get, to gain information about their performance. You can acquire wisdom and knowledge from the source, looking at and grasping a better understanding of the possible strategies you can apply when making investments.
- Copy Trading – the eToro broker has one of the best-developed Copy Trading features available among the brokers in the industry. It is an admitted leader in this field. The Copy Trading allows clients of the brokerage to follow leading investors on the platform and directly copy their trading decisions on the personal accounts. You can also opt for something called CopyFunds that allows you to invest directly into bundles of assets either applying established market strategies or the ones, applied by the people you follow, regarding the whole portfolio.
Review Verdict: eToro Is Not a Scam
All of this might sound a bit complicated but in a matter of fact, the creators of the eToro broker have made the effort to turn it into one of the most sophisticated, yet user-friendly platforms you can sign up for. Everything is explained in great detail. The interface is elegant and simple, and you can contact the 24/7 customer support team anytime you like if you need further assistance.
The developers of the best Forex brokers and CFD trading platforms know that the market is characterized by the participation of people with limited knowledge and experience. That is why they invest time and efforts into providing the best possible environment that can meet the needs of people on all levels of experience, even complete newbies.
eToro is NOT a Scam – See Why!
Apart from being professionally built and further developed, the brokerage is preferred among online traders because it values security above all. This is one of the safest brokers you can sign up for. eToro is regulated by the FCA and the CySEC, it holds a license for operating and provides funds segregation ensuring their safety. Personal information encryption protocols are in place and not a bit of your data is going to be distributed to third parties.
All of these measures, along with the strict verification procedures and the Anti-Money Laundering policies, have tuned eToro into a trading fortress. Your whole experience – from start till end, from making your first deposit to withdrawing your returns, is going to be safe and secure.
And this is among the main reasons why I strongly recommend this broker. eToro is not a scam and its millions of clients from all over the world can confirm that too.
Minimum Deposit & Sign-Up Procedure
As I already said, the verification process with eToro is very strict. You need to provide various documents to confirm your identity but if everything is right with them, your account will get swiftly approved and you can begin trading. Regardless of your initial investment, you will gain access to numerous assets available for trading under the CFD derivative – stocks, commodities, indices, Forex pairs, and even cryptocurrencies like the Bitcoin.
But for that reason, you still need to fund an account. The minimum starting deposit is $200 but the best part is that you can start with DEMO trading. With it, you can gain more experience if you are a newbie in order to ensure that you will be able to find your way around the platform. Here are the steps to join:
- Complete Registration Form
- Make Initial Deposit
- Verify Identity & Trade
Once you are satisfied with your results, submit a withdrawal request. The eToro broker offers one of the fastest withdrawal procedures. Your request is processed within 1 business day after you have met their identity verification conditions. All fund transfer methods require 1-2 business days for your funds to arrive, apart from the wire transfer that might take up to 5 days.
The eToro broker is not a scam. This is one of the leading brokers in the industry. It offers a strictly secured investment environment, swift withdrawal procedures, and numerous trading opportunities like Copy and Social trading. You can trade a significant amount of assets in order to build a lucrative portfolio, including cryptocurrencies. Platform performance and users’ feedback have proven further that this broker is one of the top choices you can make and I also strongly recommend it.
Review Verdict: eToro Is Not a Scam