eToro Openbook Trading Stocks
The eToro platform offers an excellent base for beginning, intermediate and experienced forex traders. Founded in 2007 in Lissamol, this trading broker uses social networking in a positive way to assist traders at all levels.
Connect with traders and investors – copy their trades
It is the social networking aspect that makes eToro one of the most popular available. Inexperienced traders can follow along and learn from those with more experience. The graphics also make it easy for beginners to learn what is really going on in the trading world, although some more experienced users report finding these features a little annoying. With eToro you can learn as you earn.
eToro forex community
The essence of eToro is the community. Interaction with other eToro users makes it possible to learn, discuss, and grow. While etoro offers a demo account for beginners this is really not necessary as users can simply copy a trader they see as a good option. Essentially, new users are encouraged to See (what others are doing), Follow (those who seem to be doing well) and Copy (what others are doing). This is an efficient and, almost, risk free way to learn the art of online forex trading. New users can use the GuruFinder search, or simply join the community and jump in. The Guru programme also allows experienced traders to earn extra money. New and experienced traders alike can also earn a little more through the sign-up bonus offers.
Trading forex on your mobile phone
Another advantage of eToro is that it can be used on any mobile device. This means a trader can be in touch with what is happening at all times. All major social sites are also supported including Facebook, Twitter, Linkedin, Google+ and You Tube. Traders can also view the well maintained blog site.
Free training courses and videos
For beginners eToro offers a number of free training courses and videos that help the user understand not only the platform but also some of the intricacies of trading. Working through these courses while interacting in the community leads to a deeper and faster understanding of the trading world. Using the CopyTrader option can also give new traders confidence as they learn the ropes and removes the fear that can often accompany new and intermediate forex traders.
Registration with eToro is very simple, and a $100 is the minimum fee to begin trading. From this point users can simply choose how much to use with each trade. The interface is user friendly and clear, concise tutorials are available. Users are also able to set various risk categories making the Stock site suitable for traders at all levels. Site support is available during weekdays.
A total of 16 currency pairs are available on eToro so users can choose from these along with trading in gold and silver. Compared to other trading brokers eToro offers a relatively high spread which keeps many experienced traders in the community.
eToro – Social networking, for anyone interested in forex
While not for everyone, eToro has excellent reviews as a forex trading site. Its main selling points are its superb social networking advantages and well thought out training and support for all levels. For anyone considering beginning forex trading, or for those wishing to make more from their skills eToro is well worth considering.