eToro Review

eToro was founded in 2007 and is based in Limassol, Cyprus. The company has built up a user base of 1.5million clients in over 130 countries. eToro are regulated by NFA, CySEC, ASIC, CFTC and MiFiD among others and are authorized to operate in 40 European countries.

eToro are a trusted broker and operate with full transparency with clients. The OpenBook platform is inviting and actively engages customers and speeds up the learning process for new traders.

eToro have experienced a large growth due to their easy to use and intuitive interface as well as excellent client support. Although customer support is only available 24/5 rather than 24/7, each new eToro customer is able to sign up to the exclusive trader programs.

In 2010, eToro received an award for the most innovative trading platform by World Finance Magazine. The innovative features and social trading emphasis has helped establish it as one of the most popular brokers around.

There are lots of value added services with this platform, but it comes at a small cost with the fixed spreads being slightly higher than some other brokers. This is offset somewhat as there are no commissions paid on accounts.

eToro offer multiple ways to deposit or withdraw cash quickly and easily. Customers can deposit money with a credit card, wire transfer, Moneybookers, Paypal, Webmoney, Neteller, Moneygram or Western Union. They can also withdraw money to the same sources. This makes eToro one of the most flexible brokers around for depositing as well as withdrawing money.

eToro provide lots of ongoing bonuses and promotions and include up to $2000 bonus on the initial deposit. Promotions change regularly and primarily focus on deposit bonuses.

- Excellent trading platform for beginners with an easy to use interface and demo accounts available

- Deposit bonuses up to $10,000

- USA traders are accepted

- Trade Forex, metals, oil, gold, indices and commodities

- Lots of training material available to learn more about trading

- Fixed spreads - Excellent customer support

- No phone trades can be made

- Fixed spreads are higher than some other brokers

- No scalping or automated trading

For new traders, eToro certainly delivers a friendly and helpful trading environment. Experienced traders can use the OpenBook platform to interact with other traders and discuss news reports. This all adds up to eToro getting our vote as an excellent Forex broker for traders of all levels of experience.