eToro is definitely one if the best options for online forex, especially if you are a beginner. It offers great, user friendly software, various supporting features and lots of forex educational material, aimed at helping traders to become more equipped to handle the complex world of foreign exchange. Beginners can also use the free of charge Demo Account, to practice before going for the real money option. First deposit bonus is generous and you can start trading for as little as $50.
eToro’s platform is user friendly, especially for those, making their first step in the online forex world. It has a special, visual mode for beginners, that makes starting up forex trading that much easier. Advanced traders can choose the expert mode, where you can use the One Click Trading feature. The site comes in the following languages: English, Spanish, French. Italian, German, Russian, Japanese and Arabic.
eToto offers its visitors all required features for trading the right way. You can keep up to date with the site’s live news and charts and use the Stop Loss and Take Profit features to prevent stressful situations. And although markets close for the weekend, you can stille trade in eToro during that time, using the “Carry Trade over Weekend” feature. Make sure you know the limitations of this feature before you use it.
You can start doing business in the site with as little as a $50 deposit.
Bonus and promotions
One of the great advantages of opening an account at eToro is the high bonus you get. You can get as high as a $1,000 bonus just for depositing cash in your account for the first time. The more you deposit, the higher you bonus.
Deposit $100-$399, and get a $25 bonus.
Deposit $400-$999, and get a $100 bonus
Deposit $1,000-$4,999, and get a $250 bonus
Deposit $5,000-$9,999, and get a $500 bonus
Deposit $10,000-$19,999, and get a $1,000 bonus
Another great promotion is “Invite a Friend”. As a eToro member, you get a $100 bonus for every friend you refer to the site that deposits $100 min. Your friend will get a
$50 bonus as well.
If you have a weakness for competitions you will love this weekly promotion. Every week, traders with highest profits win cash prizes. First prize is $3,000. You don’t have to do anything to participate in the competition. Just trade.
Spreads vary according to currencies pair. For example, the standard spread for USD/JPY (Japanese Yen) is as low as 2 Pips, while the standard spread for EUR/CAD (Canadian Dollar) is 17 Pips.
The following deposit methods are available: all major credit cards, wire transfers, Paypal, Western Union, MoneyGram, Moneybookers and Webmoney. Detailed instructions on the Deposit process for each of these methods are available in the site.
Customer support is available Monday through Friday from 6:00 to 22:00 GMT. Toll free phone numbers are available to the US, Canada and most European countries. Live chat and contact form are also available.