Located in Tel Aviv, Israel, eToro was established in the year of 2006 by both brothers, Ronen and Yoni Assia and partner David Ring. The brokerage was founded with a goal to establish a popular financial trading and investment platform suitable for all levels. eToro has gained significant popularity among many trades since its founding and is currently considered one of the top social trading networks, as well as an online Forex broker. When it comes to the regulation, eToro (Europe) Ltd. is based in Limassol, Cyprus and is a registered Cypriot Investment Firm or CIF, registered under the number HE200585. The broker is fully regulated by the Cyprus Securities and Exchange Commission or CySEC under license number 109/10.
In the United Kingdom, eToro (UK) Ltd. is headquartered in London and is a registered UK firm under registration number 7973792. eToro UK is both authorized and regulated by the Financial Conduct Authority or FCA under the firm reference number 583263. Both eToro (UK) Ltd. and eToro (Europe) Ltd. comply and operate under the Markets in Financial Instruments Directive or MiFID. Currently,eToro has surpassed the 5 million users mark,from more than 170 countries. The company’s clients are able to trade on currencies, indices, CFD’s and Commodities. Each and every day,thousands of new account are being attracted to the online platform of eToro as one of the most renowned social investment networks.
The “OpenBook”, which is eToro’s social investment platform was launched in 2010, alongside the “CopyTrading” feature. In the same time, eToro, released its first Android apps to allow investors monitor and trade from anywhere, using only their mobile device. And now, has been replaced by with an updated version, a platform which allows you to use all of the features in one App, that is also available on Android. Unfortunately, eToroUSA is not active, therefore eToro does not accept clients based in the United States.
Unique Features of Trading with eToro
Besides the inclusive trading platform and the company’s fundamental educational program, eToro’s most noticeable feature is the online financial trading community, which is one of the largest in the world. Recently, eToro replaced the WebTrader and the OpenBook trading platforms into a much more efficient all-in-one platform which trades the access to all their services across a variety of devices. Depending on the location of the client, the minimal first deposit for a live account using eToro ranged from $50 all the way up to $1,000. Moreover, eToro provides an options of opening a practice account with no cost. The practice account of eToro enables the future customer test the trading platform before moving to trading with the client’s own capital. Client are able to work with the practice account with an amount of up to $100,000. eToro also offers an Islamic account, which can set-up with the minimum deposit of $1,000.
Like many other Forex brokers, there is absolutely no commissions on trades, therefore, the company the spreads that are being implied are slightly wider to compensate. Based on the results of a real time survey, USD/JPY starts from two pips and EUR/USD, USD/CHF and USD/CAD are three pips.
GBP/USD and AUD/USD show a four pips wide spread, while NZD/USD was a five pips spread and the USD/RUB, a seven pips wide. Fore less traded currency pairs it is around 20 pips, and Bitcoin trades is 225, according to eToro’s website.
When eToro just started, the first trading platform was mainly designed towards beginner traders that start with no experience, whether it’s the graphic animations that presenting the currencies
racing against each other. eToro’s platforms have been completely changed and re-designed to an all-in-one award winning platform, Which as mentioned above, is available for both Android and iOS users, and includes all of the features previously available.
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