History and Regulation
eToro was founded in 2006 and in its 10-year history it became “the social trader platform” with the largest following and the best reputation.
The Cyprus-based retail broker operates under all of the most important regulatory frameworks including the ones from the EU, the UK, Australia, and, of course, Cyprus. Although eToro has a US branch it doesn’t accept U.S. traders currently.
Offered Products and Platforms
All the most popular pairs and a great variety of exotic currencies are available with CFDs on indices and stocks as well. Commodities are also part of the offering and you have the option to trade with Bitcoin too. The company puts an emphasis on adding new products all the time.
There is no support for MT4 besides the company’s great proprietary platforms, but mobile trading is highly developed with good analysis tools.
Spreads, commissions and other fees
The broker offers fix, albeit quite high, spreads with guaranteed instant execution even around news releases. You won’t have additional costs but you will have to pay at least 3 pips for a trade.
- Widespread social feature in the OpenBook
- Copy Trader for real-time following
- Managed accounts for extra earnings
- Automated trading
FXUniversal recommends eToro for those who would like to learn from other traders with the help of the intuitive OpenBook social platform. It is definitely not the cheapest option but has a good offering of tradable products and a stable background with an easy account opening process geared towards beginners.
Let us know what you think about eToro and rate your experience in the comments section!