So... what's the hype about eToro???
1. Social Trading
2. Referral Fees
Do you agree that most retail traders will look at the spread offered?
Next, we will look at how convenient to deposit funds into our trading account.
How easy/difficult is it to withdraw funds when we need them?
Order execution is also important. I can safely say that the Order execution policy seem fair enough.
Just so that we know, if there are technology glitches, we can't really do anything.
All in all, I personally would give this broker a miss because of the unnecessary withdrawal fees and the slow withdrawal process. There are several methods to deposit funds, but very inconvenient to withdraw funds. Reminds me of Online Poker sites. In fact, the spread isn't very competitive given that it is not an ECN broker. Nothing to shout about, really.
3 comments:
Hi there!
I just wanted to respond to some of the things in your review.
Regarding the withdrawal process, we only ask for verification the first time you withdraw - a standard practice in the industry. After that the process is automatic and takes a couple of days (depending on the withdrawal method of course). As for the fees, they only go towards covering the fees we are charged for processing the transaction.
Regarding the spreads and our broker status, we are not an ECN broker which is precisely why our spreads are a tad higher. ECN brokers usually charge tighter spreads because they also take commissions for every trade and they have very limited liquidity. We charge no other commissions outside our spreads, and provide much greater liquidity.
Thank you for your time!
Best regards,
Andy, eToro Team
Thank you for sharing. I believe that the readers will appreciate the feedback.
hello. i own an etoro account since beginning of 2013 and blog about my experience on http://tradetoro.info.ms (or http://tradetoro.blogspot.com)
check it out and let s share our ideas. greetings! ernst
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