Can eToro be Your Next Trading Platform? Some Facts and Figures About It

For those who are interested in online trading and are looking for more options to consider, eToro is a good one to know about. You are disappointed by the trading platforms when you start from the one that could not benefit you the way you wanted. So, you stop taking any interest in them and looking for a possibility of earning through it. But, you know what?

This is not a very good approach in the digital trading market. All you need is a little knowledge and then starting with the platform that serves you the best.

Financial knowledge is important and that usually is not a part of our education at any level. However, we have tried to provide you with a little overview that will help you in deciding whether or not to choose eToro as your trading platform.

Before moving on to what benefits they offer and what are their disadvantages, here is a brief introduction.

Introduction 

eToro broker is working since 2007 and has many traders, the number usually though enough to authenticate the platform. So, for almost more than a decade it is working as a social trading platform working in many countries. This again is a good point but not enough to judge it completely. Along with dealing in over 140 countries, the broker is also regulated by different regulators in different jurisdictions. It actually has different divisions and each one is licensed by the respective regulator of the area. Here are a few examples.

• In Europe, it is licensed by Cypriot regulator or CySEC
• In the UK, it is licensed by the British regulator FCA

Along with its representation in Europe and UK, eToro broker also has its mark in other big countries like the United States of America and Australia.

Benefits

Here is what makes this broker favorable.

The minimum transaction amount is one dollar that is not, mostly, the case in other social trading platforms. So, this is the first thing that users like about it. The next thing is regulation and thus, security. It is regulated by independent monitors as mentioned above thus, investors find a reason for investing here. Moreover, you do not have to have an amount equal to one’s share to invest in it. It is also possible to invest less than that. In short, you get a lot of options to invest here.

Disadvantages

Here are some reasons, not many investors prefer this platform.

Along with the inconvenient and technically difficult website, investors also had to face problems in order implementations.

Furthermore, it allows no access to ECN systems. All the orders have to be processed only through straight-through processing. The next problem is how it restricts you on certain fronts. For instance, if you want to withdraw your funds, there is a commission for that. Also, the uses of their services have not found their support staff really supportive.

Another thing that is very important to mention is more than half of the investors found lost their amount when traded CFDs. So, for now, it is only good for non CFDs.

In order to know more, check its website, read reviews, take advice and then decide what to do.