Etoro
eToro is an online financial trading platform that supports cryptocurrencies, stocks, indices, and commodities social trading. It was founded in 2006 in Israel and has since grown to provide a wide range of social trading services worldwide. It is one of the world’s top social trading platforms. eToro is regulated under the UK and Cyprus jurisdictions.
User-friendly platform
Premier social trading options
Demo account available
Limited cryptocurrency trading options
The wide range of trading options can be confusing
Limited risk/reward ratios
Trading platform
eToro adopts an open book technology so that users on the platform can see each others trading statistics. That way, each trader can be able to harness the market information and insights from traders to make smart investment decisions.
Besides the web-based version of the platform, eToro created a mobile app in 2010 to enable traders access market information in real time from any location.
The different account types cater to the various levels of expertise among users. The demo account allows beginners to test trading strategies so as to minimize risk. Islamic accounts are available for free upon request to cater to Muslims who are keen to adhere to sharia laws.
Trade instruments
Bitcoin is the prizmary cryptocurrency traded on eToro. Unlike many other exchanges and brokers, eToro does not offer bitcoin as a trading currency rather as a CDF derivative. This means that traders buy or sell Bitcoin as a financial security asset.
Payment option
Deposit and withdrawal options available at eToro include credit and debit cards, Giropay, Neteller, Skrill, PayPal, WebMoney, Wirecard, Yandex and China Union Pay. The availability of each method may vary from country to country. Transactions processing time is usually 24 hours but they may be additional time depending on the transaction method used.
