Option research trading strategy matrix23 comments
What is binary trading and forex trading vs
One of the most well-known names for social trading in the online trading industry is eToro. The reason behind this is the fact that eToro was the first broker in the online trading industry to introduce the concept of social trading to the world. The notion that a beginner trader can trade as well as any experienced trader by relying on the collective wisdom of the trading community revolutionized the way forex is being traded.
By combining their collective wisdom through the trading platform social network, traders learnt that they can achieve higher profitability while at the same time shorten their learning curve. Authorized under the CIF license no. In addition in compliance with U.
Today, the trading platform used is called the eToro CopyTrader. This new platform incorporates both the main features of the old Openbook trading platform into a Webtrader hence giving clients access to the best of both worlds from a single trading interface. As a Popular Investor, the trader allows others to view his trading activities. Once the trader has managed to achieve a minimum number of copiers, he will be rewarded with cash and rebates on the spreads that he pays.
These apps have been designed for both iOS and android powered mobile devices to allow full mobility and access to the financial markets at the same time. To simplify the trading process, the firm has opted to provide their clients with only one standard type of trading account. Opening a trading account is a simple and straightforward process which requires you to fill up and submit the registration form.
However if you are unsure and wish to try out the platform first before committing any real money, you can do so using the free demo account facility. The process is the same as signing up for a live trading account. In line with the new regulatory requirement issued by CySEC, eToro today no longer offer any kind of trading bonuses. Over the years, eToro has expanded their assets to cover additional assets. Today, traders can trade with 53 currency pairs, 53 ETFs, 12 market indices, 7 types of commodities and types of stocks from all over the world.
Customer support is available Monday to Friday, 24 hours a day. To contact the support team, traders can do so by submitting their query on the web contact form provided on their website. Alternatively, traders can also reach out through support team by emailing the relevant departments concerning their queries. There are several ways which you can fund your trading account at eToro.
For traders who do not possess a credit card or eWallet, they can also fund their trading account through a bank wire transfer. Processing of withdrawal requests typically takes 3 business days. Apart from the withdrawal fee, an additional cost to traders will be the currency conversion fee. At present, the conversion fees are as follows:. If you are a beginner trader who is just starting out, then eToro will be the right broker to trade with.
The ability to conduct social trading is indeed a feature that can greatly enhance the profitability of a beginner trader. However if you are an experienced trader looking to day trade, then eToro might not be the right fit. This is due to the fact that that the spreads charged by eToro are higher than average.
In addition, as a day trader that relies on small margins and a large number of trades to make an overall daily profit, the additional cost incurred will erode away at any gain that is made from day trading.
Brokers Reviews 24Option Avatrade Binary. Reviews 24Option Avatrade Binary. Demo Account Yes Min. Traders in Germany welcome.