A Brief Overview of eToro Online Broker

eToro is one of the largest online brokers for CFD business, with over 4.5 million users worldwide. Along with regular trading in various financial products, eToro is characterized by its focus on social trading. This function allows users to copy the promising activities of other traders. This offers great potential for new users. Users can first study the respective portfolios and finally close individual positions as they please at any time. Over time, the traders will get to learn what is essential in CFD trading and which trades are worthwhile.

Features of eToro

The main function of the eToro trading platform is, it is web-based and can be accessed directly via the Internet browser. It is, therefore, not necessary to install software on your computer. This means that your own account can be accessed from any PC — the greatest possible flexibility.

The design of this platform is launched in November 2014 is youthful and clear. It might take some time to get used to for experienced traders, which is a real relief for beginners. The generously designed control elements provide an insight where the stock exchange design dominates on other platforms.

How to trade at eToro?

As with other CFD brokers, users can trade different trading instruments on eToro themselves, or they can also use the social trading function. The transactions with the CFDs can be concluded with eToro as leverage transactions. This allows customers to trade much larger volumes than would be possible with their own capital. Both the risk of loss and the chances of winning increase proportionally with the lever selected. That is a very high 1: 400 for foreign exchange transactions.

Some drawbacks of eToro

This is the best platform for beginners and basic traders. But it lacks the support which a beginner trader expects. The trading cost of this platform is usually higher than the other trading platform. Customers can mostly know about trading details and other things from the FAQ section. But when they need real-time customer support, they might not get the necessary help and consultation. So, this is a viable drawback option for any trader. However, the opening deposit for this platform is quite lower than the other major trading platform.

The advanced traders will face many problems while connecting to the technology as eToro doesn’t allow the traders to hook up with the third party application and software.

eToro supports a limited number of cryptocurrencies compared to the other trading platforms. This is basically a cryptocurrency-based trading platform for traders. The traders can trade with the Bitcoin, Ethereum, Litecoin, Ripple, and other few currency options.

Is eToro Safe for Trading?

eToro is a regulated and licensed trading platform specialized in trading Forex and CFDs. eToro is also considered as a low-risk trading platform. Its operation is regulated by the Financial Conduct Authority of the UK. It has a separate regulatory body and doesn’t operate through the bank. So, overall, eToro is a safe option for trading both for the beginner and experienced trader.