The growth of Social Trading Networks
4 stars based on
We do not recommend you trading with this broker. Its regulation and reputation is doubtful. Sign up with XM instead. Social trading is a truly innovative approach to trade financial markets.
Platforms like eToro connect hundreds of thousands of traders on a daily basis. Some conservative investors might approach social trading with a bit of caution. So, is eToro legit? You will find out this and more in our review!
From the legal standpoint, there nothing to be afraid social trading network reviews. It is also worth mentioning that US clients are no longer welcomed at eToro, as its division in the United States no longer exists.
Furthermore, there are no third-party brokers present on the eToro platform, which is the very case among social trading networks. Instead, eToro offers integrated broker solution. Overall, eToro has a huge customer base — more than 5 millions of registered users. Opening an account is quick and easy at eToro. During the registration stage, the broker allows the user to social trading network reviews one out of 16 currencies. We should also mention that eToro offers fully functioning demo account.
For example, the investor can choose the strategy to copy based on the gain percentage, maximum drawdown, country, trading instruments and so on. To perform personal analysis on the particular trader on the eToro Forex broker website, the investor can receive access to in-depth statistical info. Therefore, everyone can learn about the historical performance of the trader, check profit ratio, the total amount of trades etc. By the same token, eToro social trading network reviews supplies so-called Social trading network reviews Charts.
This social trading network reviews the investor to test the trader by using past performance data simulations, e. Another possibility to profit from trade copying at eToro is to social trading network reviews in CopyFunds. These Top Trader CopyFunds, the first type of CopyFunds, represent the combination of best traders who performed well over the past quarter.
Social trading network reviews can save a lot of time searching for good traders on the platform. Nevertheless, eToro is intuitive and beginner friendly, so users can obtain good tutorials. Moreover, there are mobile apps available in AppStore and GooglePlay. Different eToro opinions have said that the quality of these applications is quite high. However, in comparison to other large social trading networks, the spread seems to be not so low.
Another type of fee incurred at eToro is overnight rollover fee. Users can reach the client support at eToro by using email, phone or online chat. For indirect support, it is recommended to check eToro FAQ. Note that to follow the particular trader, the investor might need more money on the account.
The withdrawals are processed instantly for payment cards, while for other remittance methods it may take from 1 up to 8 business days for the funds to reach the bank account.
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