Realmillivanilli.Com – Originally established as RetailFX in 2006, currently Etoro is a leading social trading platform. This broker company first introduced the concept of social trading in 2010 in the online trading industry forex and has since made a major revolution in trading today.
The concept of social trade depends on shared wisdom from the collection of traders to produce trade decisions. With this Ethoro social trading platform, traders can be interrelated and use a combination of experience to get better trade results.
Etoro is an online social trading platform founded by two brothers Ronen and Yoni Assia along with David Ring’s colleague in 2006 as RetailFx. At present, Etoro operates through several subsidiaries throughout the world.
Headquarters in Cyprus and are located on the 7th floor of the International Business Center for Kanika (KIBC), 4 profiti Ilia Street, Germasogeia, Limassol. The research and development section of the broker is located in Tel Aviv, Israel. The company also opened an office in England on the 42nd floor, one Canada Square, Canary Wharf, London.
In Cyprus, Etoro is under the authority of the Cyprus Stock Exchange Commission (CYSEC) and operates with a CIF # 109/10 license. While operations in London follow the Rules of the British Financial Behavior Authority (FCA) with the license of FRN 583263.
Advantages and Disadvantages OF Using Etoro Company
In addition to its operations in Cyprus and the United Kingdom, Etoro also opened an office in Australia through cooperation with the IC market. In the US, Etoro also became a member of the National Futures Association (NFA) and therefore it was legally permitted to accept clients from the US. At present Etoro is reported to serve more than 3 million traders worldwide.
When trading a currency pair or CFD, one of the factors that determines the profit opportunity is the cost of trading. In Etoro, there are no commission fees, but traders are required to pay small spreads with bid prices and ask. Floating spreads as in EUR / USD is 3 pips while the average spread of merchants paid on the USD / JPY currency pair is 2 pips.
Although this spread is higher than the average, the spread will be lower when traders become “popular investors” that succeed with big followers. In some cases, he is the most successful even will be able to trade without having to spread at all.
The choice of trade assets is still a little when Etoro began to appear on the Openbook trading platform in 2010. But in a few years, Etoro has increased the number of assets quickly. In 2013, CFD shares were introduced with an asset index 110 shares. In January 2014, Bitcoin CFD began to be added to the list. Then in April 2014, Etoro expanded its asset index by adding 130 British and German stocks. The FTSE 100 and DAX30 market index is also added.
When Etoro first started, the trading platform still consisted of key components, webtraders, and openbook social platforms. At present this component feature has been integrated into a single trading platform called Etoro CopyTrader. With CopyTrader, a trader can trade himself as an independent investor under the “trading market” mode of the trading platform.
To participate in social trading, click “Copy People” to see all top investors with profiles. The main trade screen will change to display all leading investors and the level of success. To follow it, click on the profile name and click “Copy.”
Besides being a trader, Etoro also gives you the opportunity to earn extra income by becoming a “popular investor.” With this program, a trader can allow other traders to see the trade he does. When you get a minimum number of copies, you will get a prize money and rebate spread. Remember that you can become a popular investor, you must have a minimum deposit of $ 1000 in a trading account and must have a minimum minimum copy of 2 months with a minimum equity of $ 500.
At the end of 2016, Etoro introduced a new financial product called “Copoporfolio”. With Copoporfolio, Etoro brings social trading to a new level. Instead of sorting individual profiles one by one to determine the selected investor and trading strategy, Coporfolio allows traders to simplify all processes by selecting it from a number of previous package portfolios. This packaged portfolio in two types, Coporfolio and Copoporfolio market traders. The portfolio basically consists of the aggregate of the top traders or investment strategies.
For traders who like to trade at any time, Etoro also provides a car trading application designed for iOS and Android devices. This time. Car application does not offer all the features in CopyTrader, but traders can still trade independently.
In order to remain simple, Etoro only provides a standard type of trading account. To open a direct trading account, traders are needed to include a minimum initial deposit of $ 200. If the trader wants to participate in the “Popuper Investor,” program he must include a minimum deposit of $ 1000 before the right to join this program.
To open an account at Etoro, just fill in the registration form and send it to Etoro. The opening process of this account is the same as the demo account creation process. If the merchant has registered with Etoro, it can easily switch to a direct trading account by clicking on the “real” tab located on the left side of the trading screen.
To support international clients, Etoro provides support for various payment methods that can be used to enter and attract funding deposits. The method between others is:
- Credit Card (Visa, MasterCard, Visitor)
- Ewallets (paypal, skrill, neteller, china union pay, webmoney, yandex)
- Bank transfer
To start withdrawal, just click on the “Withdrawal” tab at the bottom of the menu panel located on the left side of the trading screen. Powered funds will be channeled first through a credit card, paypal, or bank transfer. Usually fund withdrawal requests will be completed in 5 working days. But there is a possibility of withdrawal of funds takes longer due to the terms of the third party payment process.