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Featured Online Brokers

eToroeToro

Leverage: 1:400Min Deposit: $50

The ideal site for beginners, with its easy to operate, friendly platform and comprehensive educational center.

Easy forexEasy forex

Leverage: 1:200Min Deposit: $25

A pioneer in the world of currency trading, easy-forex is still one of the most innovative, cutting edge brokers.

AVAFXAVAFX

Leverage: 1:400Min Deposit: $100

Use the top of the line automated trading solutions, or other high quality trading platform of the forex branch of the renowned AVA Group.

 
Broker of the month
eToro
  • A Leading Broker
  • Easy to Operate Platform
  • Vast Array of Features & Tools
  • Attractive Spreads

eToro Review

Background and Regulation

Since eToro's founding in 2007 by Jonathan and Ronen Assia, the Cyprus based company has provided online pricing in forex, certain commodities and stock indexes. It currently does so via its appropriately regulated broker partners RetailFX in Cyprus, IC Markets in Australia and FX Solutions in the United States.

With over 1.5 million registered users from 130 countries, eToro.com claims to be the "world's largest online forex trading and commodities network" on its website. In addition, the site's forex platform has distinguished itself as a revolutionary animated trading interface that provides a uniquely fun and competitive market environment for online forex traders.

Trading Platform

The site offers four different trading platforms that are unique in the forex market by being specifically designed to educate new traders through easy to understand animations and games.

eToro Desktop - a free downloadable trading platform featuring animations and games that make trading in the currency market easy to learn and accessible to just about anyone.

eToro WebTrader - a web-based trading platform loaded with community trading features and technical trading tools.

eToro OpenBook - an innovative trading platform, which allows the user to follow and even copy trades made by other OpenBook traders free of charge.

eToro Mobile Trader - this platform, soon to be available, will allow instant access to financial markets on a mobile trading platform. The service will be available for iPhone, iPad, Blackberry and Smartphone.

Account Features

Account Types

You can get started with using a practice account funded with $10,000 of virtual money to get the feel of their trading platform. Just upgrade to a real account when you feel comfortable operating in a live trading environment and can fund it comfortably.

Minimum Deposit

The minimum amount you have to place on deposit to open a real account is just $50.

Signup Bonuses

Make your first deposit and receive a bonus of up to $10,000 instantly, with the exact amount depending on how large your initial deposit is.

Deposits

the following methods are available for funding real accounts: Credit Card (Visa, Master Card and Diners Club, AMEX), PayPal, Neteller, MoneyBookers and WebMoney. You can also fund your account via Western Union, MoneyGram and Wire Transfer with a minimum deposit of $500.

Withdrawals

You can take out funds the same way you deposited them. Withdrawals typically take five business days.

Dealing Parameters

Spreads

Forex spreads are fixed, and they vary from two pips for USD/JPY, AUD/USD and NZD/USD, to three pips for EUR/USD and USD/CHF, and five pips for GBP/USD.

Commissions

No commissions are charged on forex transactions.

Order Types

You can enter a variety of order types, including: market orders, limit orders, entry stop and entry limit orders, and stop orders.

Minimum Transaction Size

The minimal transaction amount or lot size is a micro lot of 1,000 units of currency, with mini lots of 10,000 units and standard lots of 100,000 units also available. Other product lot sizes are 100 units of oil, and 10 units for market indexes, gold and silver.

Leverage Ratio and Margin

leverage of up to 400:1 with a minimal margin requirement of 0.25% on all currency pairs is available. In addition, the site's flexible trading platform allows the trader to adjust the leverage and margin level of each position to fit their personal risk reward requirements.

Additional Features

Market Information and Trading Support Tools

the site provides all major tools required to support forex trading, like Forex calendar, market news, charts and much more.

Training Aids

Include a Forex Training Guide, the eToro Forex Matador course that is provided in both a written and a video version to real account holders, the eToro Education Center, a Forex Glossary and a Trading Platform Guide.

Review Summary

All in all, the site offers a remarkably entertaining way for everyday people to enter the exciting world of forex trading and to socialize with other forex traders online.

Furthermore, even though the company is not itself a broker, it still offers competitive spreads, and the forex brokers that eToro deals through are well regulated by the authorities in their respective countries.

 

 

Easy Forex

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etoro
 
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Open free $100,000 practice account and learn how to trade