eToro forex broker review and detailed information

eToro forex broker review and detailed information

How does eToro compare with its competitors? Check out also our comprehensive and fully interactive comparison of forex brokers. If you do not know what the terms in the following tables mean, read the tutorial about forex brokers first.

eToro forex broker logo

Basic information about eToro

WebsiteVisit eToro
TypeMarket maker (MM)
Regulated byCySEC, NFA, CFTC
CountryCyprus
Established in2007
Live chatyes

Trading terms

Commission (pips)0.00-0.00
Fixed spreadyes
Variable spreadno
Spread on majors (pips)2.0-3.0
Leverage400:1
Minimum deposit (USD)50
Minimum trade size (USD)1000
Accepts scalpingyes

Available features

Number of currency pairs28
Precious metals (gold & silver)yes
Oilyes
Stocks, Indices, and/or CFDsno
Hedgingyes
Trailing stopno
Free automated tradingno
MetaTrader 4no
Mobile tradingno

Forex account

Demo accountyes
Interest on unused balanceno
Islamic swap-free accountsyes
Accepts U.S. citizensyes
Payment by Bank wireyes
Payment by Credit cardyes
Payment by PayPalyes
Payment by checkyes
Other payment optionsMoneybookers, MoneyGram, Neteller, WebMoney, Western Union
Account in USDyes
Account in Eurono
Account in GBPno
Account in CHFno
Account in JPYno
Account in AUDno
Account in CADno
Account in NZDno
Account in CZKno
Account in DKKno
Account in HKDno
Account in ILSno
Account in NOKno
Account in PLNno
Account in RMBno
Account in RURno
Account in SEKno
Account in SGDno
Account in ZARno

Languages

Arabicyes
Chineseyes
Czechno
Dutchno
Englishyes
Frenchyes
Germanyes
Greekno
Hebrewno
Indonesianno
Italianyes
Japaneseno
Koreanno
Malaysianno
Polishno
Portugueseno
Russianyes
Spanishyes
Turkishno

eToro forex broker


eToro customer reviews

Are you a satisfied customer? Or you want to share a scary story? Tell the world about your real-life experience with this forex broker! While writing your review, please also specify for how long time you have been trading with them and what trading style you use (for example news trading, grid trading, scalping, etc.). Readers with a similar trading strategy will pay more attention to your comment. Only genuine broker reviews will be published; posts promoting a website and generic comments will be removed.



Manish Hirwani
2012-07-08
Hi,
"eToro is the best and genuine platform for forex trading and no one can beat the facts of eToro".

Best of Luck

Manish Hirwani


Tim Mule
2012-06-28
Their review sucks. They must be paid by etoro because this broker is only registered with CySEC and as per me CySEC is only junk.

They are not regulated by NFA or CFTC.


Ray Izekor
2012-04-04
My fellow traders, REGULATION does not stop a broker from stealing your money through stop hunting. E toro is a market maker for sure. Any broker that offers you micro lots (0.01), swap free accounts, more than 1:100 leverage is a market maker. Be wise trade only with an ECN / STP broker.


Sam
2011-10-31
Hi Benson,

Just like most European forex brokers, eToro is registered at Cyprus for tax purposes and is therefore regulated by the Cypriot Securities and Exchange Commission (CySEC). As Cyprus is a member of the EU, eToro is bound by the same rules as forex brokers in Germany, Sweden, Luxembourg, and other EU countries.

If you live in the United States, you'll trade through eToroUSA, which is a forex broker regulated by the American authorities (CFTC and NFA). If you live outside the US, you'll trade with eToro, not eToroUSA. So, it depends on where you live.

The broker is all right. Withdrawals are fast and the trading platform stable. Never used their support though...


Benson
2011-10-30
Hi guys. am considering starting trade with etoro and am obviously very much concerned about their legitimacy. but the reviews here are very confusing. can someone help with regulators' website so i can read between the lines?


Jay
2011-08-31
They ARE a market maker, Muhammad, their support is trained to lie on that though. I have records of conversations from myself and other people where their support first didn't even know what a dealing desk is (suspicious) and then second when you say market maker they seem to understand that and INSTANTLY deny it (so trained to deny that but don't know what a dealing desk is?!).

I and a number of other traders have seen PROOF they are: split second trades that jumped down to stop losses and rose back up to profitable points.

When I and a few other traders who suffered those stop losses compare with the REAL market, there WAS no such jump.

The owner of Etoro was also the man who started a ONLINE CASINO, and etoro DEFINITELY feels like an online casino.

They don't allow you to set your trades to take profits below 50% (RED FLAG), they don't allow non-margin trades, and to top it off, they offer a 25% bonus on your deposit: ONLY MARKET MAKERS do that type of promotion!

BUYER BEWARE! I wish I had seen an honest review site like this one that states they are a market maker. Some other sites said they weren't and I trusted them only to lose everything in fishy circumstances. I messaged those review sites and they said they simply chatted with support, so they too did NOT INVESTIGATE, just took the lying support at their word.

Don't suffer the fate I did! Besides their spreads suck too, 3 pips on the Euro? 2 pips on the Yen? that's triple what my current NON-market maker broker offers! So there's no reason to use them anyways. And their platform sucks, has tons of lagging out times (during one of which it hit my stop loss magically and bounced back to profitable levels DURING a 10 second timeout and I have a great internet connection), etc.

Just beware! I hope I spare at least one person from the same fate as me.


Khairudin
2010-12-06
I find the platform a little frustrating in that it fixes a sum of $180.00 as the minimum stop loss sum. Can anyone please tell me if there is a way to get around this? I want to fix my stop loss at a lower amount.


Daniel B
2010-05-05
thank you Muhammad. I sutisfied with eToro. This broker has a good reputation and trading with it is fun!


Muhammad
2010-04-26
"not a Market Maker" means that the broker is using the rates of the banks and uses the interbank system. It is more secure for the traders, because this way they don't trade against the broker - they trade against the banks. And the role of the broker is to transfer your trading positions to the national banks.
I like eToro for that, it makes me feel secure that if I make money it is not a problem to withdraw them.


a trader from India
2010-03-25
Thank you for the info, Muhammad. What doesn't mean for me "not a Market Maker"?


Muhammad: eToro is fully regulated - checked
2010-03-23
hi guys, I see there is some misunderstanding regarding the eToro regulation. I am an old trader of eToro and checked their regulation very carefully.
NFA is the regulating body of USA only, that's why only eToroUSA.com is regulated there. As for the eToro.com, so they got the CySec lisence few months ago, it is a regulating body in Europe.
And one more note, admin, eToro is not a Market Maker as far as I am aware.



2010-03-22
If that is true, it sounds similar to MBs bs of awards and regulations which are mostly nullified by the wording in your initial contract agreement to enter into forex with them. If i claim to be ecn yet make no dealings with an entity unless they sign contracts agreeing to MM and DD activities that makes me a few things , but absolutely not an ECN. dont take my word for it, read it yourself.


etoro is NOT regualted!
2009-12-25
pay close attention! only the eToroUSA is registered with the NFA. there main activity - offered at eToro.com - is totaly not regulated and they try for everyone to Think it is the same. it is totaly not.


Fazil
2009-09-14
Thank you admin, I verified.. I am sorry


Fazil
2009-09-10
You lied, etoro is not regulated by the NFA or CFTC, could these guys be paying you or what, give us fair reviews


admin
2009-09-10
To Fazil:

Before you accuse someone of lying, why don't you check veracity of your own claim first? To best of my knowledge, eToro is registered with NFA. Please see http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0382918&rn=N. Or do you claim that NFA's official website is lying to you too?

Since services provided by forex brokers are changing quite frequently, I appreciate feedback from readers and update my data immediately after verification. If you want me to correct something, just send me a message. But please do not waste time of the readers by posting inaccurate information, especially if you do it in a highly uncivil way.


Mathew
2009-06-29
I trade with eToro already for 7 months. It is a great platform with the quick support and accurate and simple trade execution. Using the webtrader I can access my trading account anytime from any computer.


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