I’ve traded on a number of different forex platforms. But I find myself always coming back to my favorite of the bunch, etoro. This past month, I’ve made over $500 through a combination of copy trading and by opening my own trades.
Here is my review of the etoro platform.
eToro is Web Based
Unlike MT4, which is offered by every other forex broker, etoro is web based. This means you can use it on a Mac (yay!) and PC and they also offer iphone and android apps for mobile trading.
You also don’t need to download anything and there is zero setup.
The platform is really well designed and by far the easiest and simplest forex trading platform.
eToro is the Broker
eToro is both the broker and the trading platform. This means that the experience is seamless and you don’t need to do any setup.
They Have Simplified Trading
You won’t need to worry about things like available margin, lot sizes, market execution etc. eToro has dramatically simplified the way you trade forex. You just choose how much you want to put towards a trade ($2, $5, $20 etc) and then open it. This makes money management extremely simple.
Choose the Leverage on a Trade by Trade Basis
With every other forex broker I’ve tried, you are forced into choosing the account leverage on registration and you are stuck with it. Furthermore, some even don’t offer a choice.
With etoro, you choose the leverage for each trade you open. This means you can choose to trade with a low leverage and employ a low risk trading style.
You Can invest in Stock, Currency and Commodities.
The cool think about etoro is that it isn’t just forex. You can also invest in numerous popular stocks. Opening a stock trade can be done with as little as $50. If you’ve ever wanted to invest in a company like Apple or Google, you can do it easily with just $50 on etoro.
eToro is by far the best platform for those looking to start investing in forex. The learning curve is small and even if you have no experience you can still invest using copy trader.