eToro Review, The Advantages and Disadvantages of the eToro Trading Website

In the 80′s, trading meant going to the stock market, meeting up with a broker who will then fight for your stocks in the trading floor. This was once the efficient method of handling stocks, and it was effective for people who would like to invest in stocks to trade in this manner.

However, times have changed and a whole new system of trading is now being generally accepted as the way to handle your money. This is through the use of internet trading, which monitors the Foreign Exchange or Forex markets in different nations in real time, and makes trading easier and faster than ever before. No more sweaty and loud discussions on the trading floor for stockbrokers, for sure.

Among the trading websites that you can find in the internet today, eToro provides the simple solution when it comes to trading money between currencies to create a large yield and a net profit that you never once thought was possible. It’s trading that is done right at the comfort of your very own home.

To understand eToro a little better as a trading website and as an online tool to make your stretch longer, here is a complete eToro Review for you that includes some of the advantages and disadvantages of using the eToro service. These pros and cons will make it easier for your decide if this new kind of trading via the eToro website is really right for you.

eToro Overview

eToro Video Review

eToro OpenBook

OpenBook is a one of a kind social trading network that transforms the way people trade and invest online. By enabling you to follow and interact with all other traders of the eToro community, OpenBook accelerates knowledge sharing and shortens the learning curve for you to bring your trading experience to the next level.

Because it gives you the power to see how others trade: live and in real time, the OpenBook helps you put the power of the eToro community to work in your trading by allowing you to SEE the trading activity of other traders in real time and spot new market opportunities and trends, FOLLOW the strategies of your fellow traders and monitor their success rates and COPY the trades you like.

eToro’s OpenBook is innovation at its finest bringing the social world into trading.

eToroPedia

eToro has a vast Financial Trading Education Center that includes live webinars, an online eCourse and the eToroPedia. eToro’s Financial Trading Education Center is all about helping you to learn about trading and providing you with the best knowledge and know-how.

It really doesn’t’ matter if you are a beginner or a pro trader, you can always learn more about online trading and how to do it quickly and simply.

Inside eToroPedia you will find information about everything that has to do with online trading and it will provide you with answers and information about anything and everything.

Click here to get the eToro’s first eCourse Lesson

eToro Pros & Cons

Lets begin with the cons.

Cons

As you probably know nothing is prefect and eToro is no different. It is not perfect and it does have some disadvantage and here they are:

Slow Internet Connection Can Hamper “Real-Time” Trading

Although the real time trading can work well for those who have quick internet connections, it’s not possible that everyone can have fast internet speeds. Because of this, people who have slower internet connections have lesser trading capabilities and their ability to gain profit from trading is less likely. But since this is an isolated and a personal case rather than a con against the eToro site itself, it’s a problem that is quite easy to fix and to deal with.

No In-House Brokers

eToro is a website that relies on third party brokers. Unlike other trading sites like ETrade that have in-house brokers that can help you with trading though phone trading and online assistance, you can’t be certain with the traders in the eToro site. They may make you a rich man in no time, but they can also run away with your money. Therefore, it is important to remember that eToro is not the trader in itself, but is the channel that makes trading easier for every party involved in these trading practices.

Pros

Real-Time Trading

The Internet is a great platform for Forex trading because you can trade in real time. With a quick internet connection, a swift pair of hands and a discerning eye, you can stretch your money, dollar by dollar, euro by euro, or with just about any currency that you have in your hands right now. Because you can exchange information on the internet in a split second, you can certainly trade currencies without any delay. However, this advantage is conditional, as there are people who are still using a slow internet connection service in some parts of the world to date.

Small Initial Investment

eToro offers one of the smallest initial investments that you can ever put into online Forex trading. For just 50 dollars, you can start trading into different markets to make your money bigger than it actually is. You can then start exchanging your base investment into something bigger. By this small amount of money, you can double or even triple your investment, with the help of basic trading knowledge and a quick sleight of hand.

Trading in a Social Network Set-up

eToro is one of the pioneers when it comes to e-trading with the use of a social networking setup. Social networking sites such as Facebook and Twitter are sites which have been streamlined and are made to be user-friendly, easy to navigate in and quick to log-in and out of. With this kind of setup eToro makes it possible for even the most inexperienced trader to trade because the setup makes it possible for them do so.

Practice Accounts

A practice account is yet another component of eToro which makes it stand out from its other competitors. With the eToro practice account, an aspiring trader can have a grasp of how trading works and the tactics on how trade effectively, with the most profit. And because the practice accounts are trading within real assets, you can certainly learn from real life examples before you start trading.

eToro Review – Conclusion

eToro is different and innovative and has taken online trading to new levels. Just look at how many awards eToro won in the past 2 years:

Here is a summary of eToro’s advantages:

• Follow & Copy Experts - Find the best traders in the world’s largest investment network then copy everything they do. Make their success your own.
• Responsible Trading - Too often new traders start trading without understanding the risks involved. That’s why eToro provides pre-set leverage settings and the Guardian Angel software to help everyone trade responsibly.
• Competitive Offering - Up to $10,000 on your first deposit; no fees, dealing desk or commissions; low & fixed spreads; fast withdrawals; 1:400 leverage.
• Guru Trading Program - Become a Guru trader and be recognized as an expert trader. Share your expertise with thousands of users and build a large followership.
• Social Trading - Benefit from the collective wisdom of more than 1.5 Million users through the world’s largest investment network. See, follow or copy other traders and find experts to learn from.
• Personal Service - Benefit from personal service. eToro’s dedicated account teams are there to serve you. Get up to the minute financial news and reports from eToro’s own analysis team.
• Free News, Tools and More - eToro offers you a wealth of FREE information to keep you up to date on current market conditions.

Bottom Line

With all of the great features eToro brings to the table, the great online support, the combination of social trading with openbook and all the help you get about trading with eToroPedia you really can’t go wrong with choosing eToro as your chosen broker.