Whether it is the best trading platform or not, you will decide based on the characteristics that we will explain here in this article. However, both pros and cons carry equal weight and thus, make it confusing for traders to make a decision about choosing it.
Here, we have tried to review eToro on multiple criteria thus, it will help you to decide is it good to go for you or not. As there are a lot of social trading platforms, you can move on to the next after knowing what is in this box for you.
What is eToro and where does it Work?
Introducing eToro broker, it has been working for more than a decade now and is recognized as a social trading platform. Despite many people finding faults with it, it has managed to secure its traders in over 140 countries and that makes it credible enough although, only for some specific type of investors.
It is regulated by reliable authorities of the jurisdiction it is working in. For instance, in Europe, it is regulated and licensed by Cypriot (CySEC) and in Britain alone, it works under the regulations and permission of FCA. It has its offices in these and other big countries like the USA. This was about the general introduction of eToro.
Here is what investors think about it. As these views are directly coming from investors, I am sure it will be a great help for you.
Well, some investors have a problem with the fixed commission. They believe that as their trades are being copied, they should have been a significant amount. Also, the clients of UK and USA might be a good option but for many, it is just another restriction. As these countries have strict regulations, the dealings also become difficult and limited.
some investors have expressed their satisfaction with the commissions. However, auto trading has been not very satisfactory and easy. It has been found that connecting to traders and initiates trade dealings is not very favorable and easy on this account. Talking about how this platform operates, there is a disappointment here too. The functions that are supposed to work or the features that are there to assist users often do not work the way people desire.
Moreover, the support staff is also not found to be very supportive as investors tried to get in touch with them when they were having problems.
Oops! Bad reviews, right? Well, I promised to deliver honest ones to you. however, the withdrawal of money is a concerning point and users present their satisfaction with it. So, there is perhaps a silver lining in the sky.
Whatever, the point is to know a platform completely before getting into it. There can be a lot for you in social trading but getting in the wrong hands can make you disappointed at the very beginning of the process. eToro broker can also suit you if the terms are according to you and these limited features are what you are looking for.