eToro Background – Social Trading Revolution
eToro began its business in January 2007, when three businessmen agreed to create a revolution in the trading world and make it available for everyone through innovative tools to reduce reliance on traditional tools.
eToro is basically an Israeli company, but because of its rapid growth, other branches have been established in Cyprus and the UK. The company’s main vision is to open the global markets to everyone in a simple and transparent manner.
One of their main objectives is to allow trading for ordinary users and make the people who join them feel part of the platform and that they belong to it. This was clearly demonstrated in the company’s various platforms, which provided traders with all their financial needs under one roof.
Since its inception until our present time, eToro has focused its efforts on serving customers and made it a top priority. Therefore, it kept investing heavily in financial technology to provide an easy and secure trading environment. Since 2007, the company has launched about 7 trading platforms and worked hard to develop them continuously and it has obtained a number of patents in this field.
During its career, eToro has won numerous awards of quality performance. It has been recognized as one of the best start-ups in addition to that, eToro platform has won numerous awards and gained popularity.
eToro Unique Features – Among the Best in Financial Technology
One of the most important features of eToro, which gives it the advantage to compete strongly and attract traders to open accounts through it, is that the company is a leader in financial technology, especially in the field of social trading, where their social trading platform is the best worldwide since it has a patent and won many Awards. This trading platform connects around 7 million traders around the world.
The broker’s leadership in financial technology and the great amount of innovation in its platforms gave traders the ability to execute transactions quickly and easily away from complexity and with almost no problems.
eToro focuses on the clients and considers them their partners in the success. This is evident in the services provided by the broker and its constant efforts towards development and overcoming all difficulties.
The broker has succeeded in creating a trading environment that is simple, innovative and fun. Through the company’s various tools, traders can exchange different opinions, which ultimately transform the most complex procedures into a simple and interesting experience.
eToro provides its employees with all the expertise and skills they need to provide the best services. It also has a board of directors and a team of analysts and administrators who are able to transform great goals from the theories to the actual reality.
Trusted and Regulated
eToro meets all legal requirements to operate its business as an authorized and licensed broker. In order to create a legal trading environment where the rights of all traders are maintained, eToro has obtained more than one license to operate its business and it is subject to the control and supervision of several international financial institutions including:
- The Cyprus Securities Exchange Commission (CySEC) under the license # 109/10.
- The Financial Conduct Authority (FCA) under the license FRN 583263.
Reliability and Safety
In order to ensure protecting clients’ funds and providing a safe trading environment, eToro is committed to high-security standards. Where clients’ funds are separated from the company’s funds and stored in the most famous world’s banks such as Barclays Bank. These accounts are monitored internally and externally.
In addition, eToro uses the best encryption techniques for its website to ensure privacy and prevents data from stealing. On the other hand, they are committed to the privacy of the traders’ data and they do not use it for other purposes without their permission in order to ensure the rights of clients as well.
Withdrawal and Deposit – Safe and Easy
In order to provide a complete comfort to clients taking into account the individual differences among traders, eToro offers its clients many ways to deposit money into trading accounts that include; credit cards, bank transfers and a number of electronic portfolios.
The process of deposit funds in the broker is safe and secure where all transactions are executed through Secure Socket Layer (SSL) technique, which ensures the safety and protection of personal information. For security factors too, withdrawals are made in the same way as the deposit.
The withdrawal and deposit process at eToro requires a period of time from one to two working days and sometimes up to Five days. The minimum deposit for the first time is $ 200.
Financial Instruments Available for Trading
eToro offers hundreds of different financial instruments to trade through its platforms. These tools exist in categories, each category has its own advantage and can be traded using a diverse trading strategy. These categories include stocks. Through eToro, clients can trade many famous stocks using CFDs as well as stocks partial trading.
eToro also allows trading in goods whether it is a source of energy such as oil, or precious metals such as gold and silver. The company also provides trading of various major and minor currency pairs with low price spreads starting from 0.8 points and a leverage of up to 1: 400.
Through eToro also, clients can trade in many different investment funds, which are considered a low-risk option for investors. Among the well-known investment funds traded are the Proshares Ultra S & P 500. Other categories that are also allowed to trade are Indexes; the most famous among them are the NSDQ100 and DJ30.
Recently, after some digital currencies have become a distinct investment option, eToro has included many of these currencies for trading through its platforms, such as Bitcoin, Ethereum and Litecoin. Digital currency trading is available 24 hours a day, 7 days a week.
As a key part of the company’s strategy of providing easy and simple trading environment, eToro strives to provide the best possible support to its customers. Customer support is available in many methods and in multiple languages (15 different languages) around the clock for 5 days a week. eToro’s methods of supporting customers include direct conversation and e-mail.
In order to make it simple for the customer, the website is designed in an easy and attractive way through which the traders can get all the information they want in less time and effort. For the same purpose, eToro has designed a special academy for traders to provide them with all the knowledge they need to trade in financial markets. This academy is designed to serve traders at different levels of experience and include instructions, various articles, videos and direct lessons.
The eToro blog provides traders with daily market developments as well as technical and fundamental analyzes prepared by professional experts.
Innovative Trading Software
As mentioned previously, the most important feature of eToro is the constant investment in financial technology. This is evident in eToro WebTrader’s professional platform. This platform is available via the web through the most popular browsers like Chrome and Firefox.
eToro WebTrader is a common social trading application, and according to eToro’s latest statistics, 87% of copied transactions are lucrative. The platform contains a full range of technical indicators and interactive charts that help in making the trading process more fun and easy.
Mobile Trading – trade and connect on the go
The company offers traders the eToro application, which allows traders to execute all the actions available on the platform. The application gives traders instantaneous notifications of critical issues to make the right decision when trading.
The eToro application is available on Android and iOS, where beginners can select professional traders, copy their deals and allow them to manage their money for a certain fee.
eToro offers many extra services that have made it unique. One of these services is CopyFund that includes two types: Top Trader CopyFunds, which consists of the best performing traders at eToro and Market CopyFunds, which include CFDs, ETFs or ETFs under one selected market strategy. CopyFunds mainly intends to help investors reduce risks in the long term, as well as enhance growth opportunities.
One of these services is Partner CopyFunds. Through this service, expert traders can create their own CopyFund, promote for it and receive a portion of its returns. The well-known traders receive a steady 2% of the managed assets amount when others copy their transactions.
Things to Improve
eToro seeks to provide the best services, and always conducts comprehensive reviews of all the services it provides to meet all the needs of clients and to address any problems that may arise. During the period of the company’s work, its clients called for some improvements, including:
- Reduce the minimum deposit to less than $ 200, especially for those who wish to invest small amounts.
- Cancel the imposed fees on withdrawals, as many eToro clients have demanded this.
- Add customer support through phone calls.
- Cancel the imposed fees on inactive accounts “that have not been registered for 12 months”, charging them a monthly fee of $ 5.
eToro responded positively to all the suggestions and promised to study them to ensure the best service. They also stated that the fees they charge for withdrawals are little compared to the large services they provide. eToro charges fees for withdrawals starting from $ 25 and varies depending on the amount of money to be withdrawn.
To Sum Up
eToro is an outstanding broker that has established for itself a strong brand and a unique name in the financial markets and has distinguished itself through its exclusive services. Therefore, we can say that this broker is ideal for investors.
It is recommended to go and visit eToro’s website to learn more about them and any other information you need.