forex trading, the broker eToro

If you want to start with forex trading, the broker eToro will be the broker of your choice - due to their ground breaking software and their swap free accounts. For experienced traders it is no problem to make 1000 Dollars per day or even more with forex. Even if you have no idea of forex or commodity trading you can just follow the experienced eToro-traders in OpenBook and copy their trades. The platform is very clear and dedicated to forex beginners who want to start with forex from scratch. Once the trader is all at sea there’s always a friendly support – be it via chat, email or phone. Forex Trading with eToro is either with the eToro trading software which can be downloaded for free or with the eToro webtrader. While the software requires a windows system to be installed, the web trader can be used with any browser and thus you can trade online no matter which operating system is used. All you need is access to the internet. As a forex trading beginner one should start with a free demo account and practice trading until you feel at ease with the system. After a certain period of initial training you can switch to a real account and trade your real money with a single click of a button. To start with a forex demo account is quite important as not only the profits in forex trading can be magnificent but also the losses. The minimum deposit with eToro shows that this platform is open for private investors: You just need a minimum deposit of $50 in order to open a real account. Instead of paying fees there is an appealing bonus system: If the trader deposits $1000 he gets a bonus of $250. If you pay more, the bonus will be higher as well.

Who will like eToro?

eToro is a great trading platform both for experiend traders and for forex beginners.  Due to its clearness in showing the trades as a kind of “horse race” it is particularly suitable for beginners. The graphical presentation of the trades is unique in the forex world. The maximum leverage is 1:400 which means, that one can trade 400 times their deposit and the margin is as low as 0,25%.

eToro Software

If you don’t like downloading foreign software on your computer you can choose the eToro webtrader. But the software is funny and it has four different modes to offer: Choose “Marathon” and trade 16 currency pairs. When using the mode “Forex Trend” the trader should at least have a slight idea of where the dollar is going. The “Globe Trader” mode offers curreny pairs that has been chosen previously. Once the trader has bought a currency, the small flags of the respective countries start moving and the trader will get all information required about profits and losses and their money. There is a detailed video tutorial available for any mode and if you don’t know what to do next there is a support team at hand.

Forex trading with eToro

What strikes the eye with the eToro trading platform is the perfect graphical representation. As if eToro wants to say “trading is fun, come in and join our community!” At the beginning you should choose the “visual mode”. By means of several community features such as the eToro OpenBook, chat, challenge rankings and the top traders insight tool one can get in touch with other forex traders and share experiences and strategies or just copy their trades with a single click on a button. Have a look at what the top 100 eToro traders are trading at the moment. This is the main thing where new traders can profit from. Once the trader has familiarized himself with the world of foreign exchange he can switch to the expert mode. It is here where you have access to all important analyzing tools and by means of the one-click-trading-mode you can trade the currency pair of your choice with just a single click on a button. If you just want to change from demo mode to a real account you just have to press the “trade for real money” button.

eToro Traders Challenge

As already mentioned there is an internal top-ranking within the eToro community. Here the top traders are being mentioned and displayed and the best trader over a certain period of time wins a money prize. You don’t have to sign up in order to be part of trader’s challenge as every eToro forex trader takes part automatically. This challenge is to encourage newbies to getting better taders and to support them in their first steps. Here you can see the current eToro top traders, their profit and their money prize: