Forex Broker eToro - Start forex trading

If you want to start with forex trading, the broker eToro will be the broker of your choice - due to its ground breaking software and its swap free accounts. Even if you have no idea of forex or commodity trading you can just follow the experienced eToro-traders with OpenBook and copy the trades of experienced traders, called eToro guru trader. 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. 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.

Automatic Stop Loss

eToro sets an automatic Stop Loss Order for all trades. This is in order prevent the trader from losing more money than he had deposited. As soon as a open position of a trade drops under a certain limit, eToro closes the position by means of the automatic Stop Loss. The maximum loss is thus limited to the FTD of the trader (First time deposit).

eToro OpenBook

In order to enable forex beginners getting startet with forex trading as easy as possible eToro has launched their new community trading feature: eToro OpenBook. What is that? The eToro OpenBook provides all eToro members with information about other traders. You can monitor trades of other (successful) traders in realtime, called eToro Guru Traders, and if you like what you see, just copy their trades and from now on their trades are being mirrored in realtime in your trading account. Any questions? Just open a chat with your trading idol and ask him or her about their trading stategy. All your trades are being executed simultaneously with the trades of your eToro Guru. The classical principle of a managed forex account, such as ayondo for example. In this way it is easier for beginners to establish themselves and to gain trading experience: Observe, learn, chat and copy trades. With the eToro OpenBook the broker sets new standards with regard to community trading and expands its trading community with traders coming from all over the world and 2000 registrations per day. Our OpenBook tip: Take advantage of the Traders Challenge widget mentioned above and look in eToro OpenBook for the best eToro traders with the help of the search funktion.Follow them and study their strategy or simply copy their trades. Klick here to watch the OpenBook social trading environment and observe the trading gurus while doing what they can do best.

OpenBook Webinar

This eToro Webinar explains how you can use eToro OpenBook in order to make money either as a smart follower or as a so called "Guru", a forex trading expert. As a pro trader you can make a lot of money with selling your trading signals to other OpenBook members.

Swap free

eToro provides swap free account, developed for traders who use trading systems which do not take into considerations swap influence or traders who can not use swaps because of their religious beliefs. This determines the second name of this account type – “Islamic accounts”. If you have a broker with a swap free account you won't have any loss of money for some open overnight positions. Thus swap free brokers such as eToro are very popular within the Islamic world.

eToro Video

eToro at a glance


Regulation	FSA, CySec
Min. deposit	50 $
Leverage	1:400
Spread EUR/USD	3 pips
Commodities	Gold, Silver, Oil, Indices
Currency Pairs	16
Webtrader	Yes
Software	Own software, OpenBook
Demo account	Yes