eToro.com Broker Review
Given the difficult current economic conditions all over the world, the chance to earn a few dollars, either to complete the salary income in the best of cases, or as the only income, is like a breath of fresh air to anyone. The much advertised Forex trading platforms give people such an opportunity and all they need is for them to start making money and help the company profit as well. Anyone with the most basic understanding of how the demand and offer system works can try his hand and make some money on any of the forex broker platforms.
The Forex trading market has a lot of brokers willing to give newcomers a hand. What is best about the Forex system is the fact that all of these brokers and traders have a real benefit out of teaching you to make money yourself by trading in currencies, for example. Therefore, more than just getting the support you need without knowing what happened and how you earned your money, you will get all of the needed information and explanations which can get you on your way to earning money on your own and helping the market profit from this as well.
One such a platform is the eToro company. This platform gives people in over 140 countries the possibility to trade commodities, currencies and indices. Founded in 2007, the platform has been used by over 2.75 million users. It is accessible to users with various levels of knowledge of how the system works and with different trading experiences. One great thing about eToro is the fact that is was developed on a wide social network system ( eToro OpenBook) in which you can interact with other traders and mobile platforms, which really opens up the possibility of each user to connect with people in a pursuit of individual financial goals.
With the CopyTrader feature of eToro, you can copy other successful traders and then sit back and let them trade on behalf of you.
Watch the video below to learn how it works:
The best thing about these platforms is that they really allow the access of common people on the trading marketplace. Therefore, anyone with some sense of how a market works, with either education on the matter or just a stronger instinct, can make the minimum deposit and get in the game. The difference between now and a few years ago is the fact that then, the trading market was only opened to large corporations or wealth individuals, while the common man, in need of a few extra dollars did not have access. The eToro minimum deposit allowed is of $ 50.
But why should you trust even such a small amount of money to an online platform which can either invest it according to your indications or run away with it? The difference between the two situations consists in the regulation. An offshore broker under no regulation has smaller fees but is a bigger risk. Regulated brokers will answer for what they do. eToro is regulated by the CySec, the Cyprus Secutiries and Exchange Commission, an authority which supervises and controls the operations of the Stock Exchange, and, most importantly, can protect the interests of clients by sanctioning the brokers lacking in market discipline.
The spread of eToro depends on what you intend to trade in: either currency, commodities or indices. They usually start at 2 pips (percentage in point). The spread is what goes to the broker when a transaction is opened, but the values are rather low. They vary according to currencies and commodities. Currently, the highest value is that of gold, with 90 pips and the minimum transaction size after leverage is of 1000 units (USD).
According to the eToro web page ( visit the site www.etoro.com ), people all over the world can create an account and start trading. Investments can even be made, according to the advice of specialists, even in Third World Countries with emerging economies, like the Cote d’Ivoire, the world largest cocoa producer, of Ghana which has recently opened up oil trading opportunities. The key to earn money on the trading market is to stay informed on the evolutions of the economic, social and political situations of the countries you are trying to invest in and keep an eye on the commodities trading and the evolutions of various other products.
There are people for whom the whole idea of making money off the Internet is hard to grasp, especially since there is not direct payment for a specific service or product like in other cases. Well, getting the money you have earned from eToro is not a process as simple as taking money from the ATM because the company is responsible for the amount and, in case of a stolen identity, it is made accountable for the sums transferred without a right. There are certain documents required to prove the identity of the solicitor.
- A clear color copy of the Passport along with a written signature,
- A clear copy of a recent utility bill,
- A clear copy of both sides of the credit cards you have used to fund the transaction.
- As an extra measure of precaution, fees have to be paid.
As mentioned before, the best thing about the eToro trading system is that it is opened to the online and mobile networks, making it accessible to a wide variety of people. The eToro web platform is called Web Trader and it can be used without the need of downloading and even when you switch computers. If you are not sure about how this all works, you can get a free demo account and start practicing your trading skills.
Although this is new to a lot of people, and the experience of brokerage might seem something taken out of an American success story, everyone can try their luck and earn some money. The platforms offer demos so that you can see whether or not you could make money from this activity or not without losing any money. Even so, some risks must be taken for bigger gains, even from time to time. You never know what your hidden abilities have and whether or not you could do well in the business, until you give it a go.