One of the main addresses if it around Forex Trading goes is in Germany eToro. The supplier provides above all by sensational commercials for a lot of sensation. As a Social of Trading brokers it is possible with eToro without earning market knowledge and background analyses fast money. We have exactly had a look at the broker and also have had a critical look at the conditions of the supplier. We have summarised the results also in the relation to the seriousness into this progress report.
|Trade:||Social Trading, CFD|
|Assets:||200 currency pairs, stocks, indexes, commodities|
|Software:||eToro OpenBook, Webtrader, Mobile App|
Review: is eToro scam?
For beginners the leading Social Trading portal is eToro absolutely in the German-speaking space. Officially is announced since 2007 in the market located Forex broker on Cyprus. Therefore, as an EU member the regulation of the supplier is carried out on site by the Cypriot CySEC which must orientate itself by the guidelines from Brussels. On the paper no differences thereby arise in the regulation to comparable suppliers who are announced by the German BaFin, the German financial supervisory authority and are checked there. A registration at other financial supervisory authorities, under it still has eToro also also the German BaFin again. To have an effect the possibilities of the BaFin on the everyday business of the company, however, are limited very much. However, why is the company seat on Cyprus? At companies and suppliers, the financial products sell this tradition has. Forex brokers, dealers of binary options and Trading supplier CDF have there her head office to be able to save sensitive tax payments in the European comparison.
|Company:||eToro (Europe) Ltd.|
|Address:||7 Omirou Saint, 2Nd Floor, 3095 Limassol, Cyprus|
|Regulation / licence:||CySEC, 109/10|
|Phone:||no phone hotline|
|eMail:||only contact form|
|Other one:||Customer service embankment|
For traders and dealers the hedgings are especially importantly towards the broker. eToro it positions itself to this and speaks even of a legal insert protection which reaches up to 20,000€ per customer. Should the company have to announce insolvency customers and customers get back inserts from up to 20,000€ guaranteed. This money is kept apart by the business assets.
Clients say this
By our search to the test and on the question whether eToro is seriously or scam we have received widely positive answers and opinions. Customers and customers also speak on the Internet of the fact that they consult with the service company well and feel lifted. We can support this impression in general.
Unfortunately, we have also pushed into a short WISO report to the Forex broker which we must mention in our test report. There it was spoken of the fact that a special customer after criticism of the Social Trading principle was threatened with a blockage of his account and with it also to the 3,500 US dollars on it. He prangert in that the sensational advertising from eToro does not agree with the real situation. The broker speaks of the fact that with him professional Traden was possible without being an expert. Money earn is very light. From these promises many customers and customers have felt according to WISO contribution appealed and have announced themselves. The fact that the principle of the Social Trading at the end no monetary pressure machine is should be clear, actually – nobody given away money. However, the expressed criticism goes rather against the commercial principle from eToro and not directly against the broker. We join in with the very sensational advertisings and would like to suggest toning down them. However, we cannot understand the whole criticism of the system. users and female users should be before the registration in the clear about that on which system her Social Trading trade is based.
eToro Support in the test
Meanwhile the offer from eToro is available into more than 10 different languages. In our test appeared that are available at least in the German-speaking area of Native speakers who look any time after all attacking questions and problems. In the time between 10 and 15 o’clock was to be reached of the Kundensupport on Mondays to on Fridays by telephone. This period is relatively short according to our opinion, here there is potential absolutely upwards. Also by email the friendly customer consultants from eToro are to be reached any time.
The answers which we received were absolutely friendly and extensive. Up to the short time in which also telephonic contact is possible we are absolutely completely contented with the Support after our experience. There there comes a FAQ area which leaves open, actually, no questions. To every input in the searching mask several proposals are immediately delivered. In total we are contented with the Supportangebot from eToro, therefore.
eToro is one of the older Forex broker in the market. Although there in the World Wide web also critical voices to the method of the Social Trading is we can make towards eToro first once no bigger negative declarations. The supplier is serious, disposes of a regulation in the European sector and is towards customers and customers by Support very customer-oriented. Duffs or even scam we could not ascertain in our test.
The offer from eToro
Which broker should I choose for my layout dealings? This question answers of the Forex broker comparison. To be able to carry out again this it is important to know the details and conditions of the supplier exactly. In addition we have put together our experiences and give an overview to all what is to be known about the broker.
Social Trading of the expert
The commercial system from eToro radically rests on the so-called Social Trading. Besides, dealers can act as usual with foreign currency, stocks and other financial products, but instal also simply automatic commercial signals. These are given again by other members of the Community. About a search and a ranking traders can find other eToro customers and customers, examine performance and have a short look at their trading strategies. With few clicks are taken over the commercial steps which are effected by the experts, from own account and are installed. If becomes a successful expert it is found about that really possibly to take over to bend own money without just one finger.
However, just finding of in the long term successful signal givers is difficult. Since most which show an exceptionally positive performance can reach only short time after the stars. Even if the first balances look promisingly traders run the risk to pick up bad Trades automatically. Too much trust should not be laid in the experts. Why other traders publish her commercial steps? You receive for it partly high commissions if dealers follow them.
400:1 – big steps
Commercial software completely web-based
Traden are able to do dealer with eToro directly from the web browser. It is not expressly necessary to instal software. The mobile action thereby is also no problem, because most Smartphones and Tablet PCs can access the website. The platform from eToro is clear and decorates promisingly. In addition there is still a free ext. for iOS-and Android user. Here the broker receives full score.
Payments and payouts
|Payment possibilities:||Visa, Mastercard, Diners Club, JCB, Laser, Skrill, Neteller, Webmoney, bank transfer|
|Minimal payment:||200€, 500€ with bank transfer|
|Fees:||5€ on payment 20€ of-200€, 10€ with more than 200€, 25€ with more than 500€|
|Account processing possibly in:||Euro, US dollar, British pound, Swiss franc|
|Payment options:||Visa, Mastercard, Skrill, Neteller, Webmoney, bank transfer|
Payments will be carried out after a very short and in the test free from problems Kontoeröffnung for many different payment services. The first money is thereby after few seconds already on the on-line account with which can become immediately getradet. The wide range in payment possibilities like credit card, Skrill and PayPal provides the suitable model for every interested user.
Concerning the payment we have gained in the test also positive experience. After few working days the money of the payment is on the bank account. The only point of criticism: up to 25 euros of fees are raised from eToro. Exact figures cannot be called, they depend on the payment height.
Up to 25 percent of bonus
Allowedly, the bonus offers from eToro are not particularly tempting. The conditions for the bonus are adapted currently and changed. However, is to be calculated on a bonus for the first payment at the rate of 25 percent. Who should have to himself for the registration with interest every now and then a look at the Internet site of the supplier and look which special is made current. Every now and then professional commercial tools are also made available free of charge.
Be present already with 50 euros
Need to catch up has eToro definitively with the number of the tradable values. While competition suppliers offer more than 200 different exchange rates in total partly, limits itself eToro to a smaller offer which, among the rest, 15 tradable foreign currency pairs offers. However, here all important currency pairs are contained. In addition, can be also closed Trades on CFDs, indexes, stocks and commodities. In general beginners should specialise only in two or maximum three values and get to know the market with the help of that.
Comprehensive continuing education offer including demo account
A big advantage offers to all novices and professional traders free eToro demo account. This has no term restriction as it dealers of other suppliers are used. There come beside the demo account an immense number in Webinaren, eKursen and videos which the interested dealers prepare for all eventualities. These are made available completely free of charge. For the beginners who are collected up to now no experiences and are absolutely foreign to the subject offers eToro all possibilities to get directly successfully.