Etoro reviews

Hi Everyone,

I have started this thread because i have not been able to find any decent reviews on etoro, well any up to date reviews. There are some here and there but not much information.

I have been trading with them for over 1 year and have not had any problems. The only thing that bothers me is their charting platform in which i don't use, and their large spreads which to their credit are fixed, and their are no swaps. So I can justify their large spreads due to those reasons.

I really enjoy the interactive side and the copy trader as it gives you insight of what the better traders are doing and they way they trade. There are a lot of traders that do their nuts and never return but that is understandable and I'm sure a lot of other brokers have the same issue.

I am currently trading well and really can't fault them at the minute.

Love to here some other thoughts

I'm a trader not a follower, and indeed etoro seems to be much more focused on social trading. At same time it can be a good way to start learning money management or entry / exit points.

don't like them, never will. like you guys say, huge emphasis on the social trading, but yet a very weak platform. it doesn't not suit me and my trading style and the trading conditions are absolutely horrible. i have demoed them before and didn't like it one bit.

iam using some of these social trading platforms. but i only use them to diversity my personal portfolio besides my own trading.

unfortunately I do not believe that the people providing these platforms does enough to curb the traders that are on these platforms to take people’s money – the screening processes are not adequate. so there is a lot of work to do for this platforms.

also you have to select your signal provider very careful, because many trader just try to earn some commission (hit and run). But there are definitely some good traders to follow. here is an interesting interview with one of the top trader from zulutrade. http://www.socialtrading-aula.com/in...ar-consulting/

Etoro is a very bad broker, so many users have complained against this broker. So do not just go for their advertisements...I can quote which members have suffered with specific objections...

I have a live account with E-toro. I really dont like them for some reasons, and love them for others. I'll point some pros and cons.

Pros +

+ Social trading. You can learn a lot from other traders, and discuss with them your strategies.

+ Free copytrade. Although the copytrader system doesn't work very well under some circumstances, it gives you the opportunity to copy the trades of some very good traders (and some horrible $burning ones too), for free.

+ They give bonuses from time to time to start trading without investing. For example, if you register from an invitation of another trader, they'll bonus you with 50$ for a 100$ deposit. Then you could add two or three +20$ free copy coupons, and you have a 200$ trading account for only 100$. (if you want this offer, PM your email and I'll send you the link)

+ You can deposit and withdraw by paypal and most electronic ways. (it really works within 1 working day)

Cons -

-Webtrader. Although it is the simplest system out there to buy/sell currencies, commodities and indexes, it seems a betting station, more than a trading one. You are not looking at the charts, simply looking at numbers (and this misleads you to think it's a game, more than a trading system)

-Spreads. EurUsd is 3pips. GbpUsd is 4 pips. UsdJpy is 2 pips. and exotic ones goes from 5 to 7 pips. Not too good, but at least they're always fixed.

-Webtrader(again). The servers are very slow and overloaded, so you get a slow response when there's volatility, and even collapses at peak time.



I hope you find this useful, and contact me if you have any more questions. Take care guys!

I'm not a huge fan of eToro myself but one thing they do offer beginners which I think is great is guarenteed stop losses. With a guarenteed stop loss there is absolutely no risk of losing more than you have in your account, very few brokers offer this.

True, but you can just figure out the stop loss you need yourself to only loose the amount you risked, its only simple math.

besides, on etoro, you can always keep extending the stoploss to its pretty much the same, just they make it more simple.

I have only recently started to try out copy trading, starting with eToro and then Zulutrade... here are some of my thoughts...

eToro, is a nice facebooky site, all pretty and friendly, aimed towards beginners as a window into trading. However in my opinion like others have said it seems less professional, they claim to be revolutionising trading by making it simple and accessible, but in reality, FX is not a simple thing, and should not be treated as such. The simplicity of their platform, and complete lack of any common useful features such as trailing stops... i think the lack of advanced features and larger spreads is not going to attract good experienced and successful traders for the long term, and without these traders, it kind of makes the copytrader feature useless.

Instead the traders on etoro is full of high risk traders, with bad money management and and horrible, horrible drawdowns. so you have to be extremely careful when choosing traders, which brings me to my second problem with them, the stats and percentages they give on traders profiles, is extremely misleading, inaccurate and it doesnt give the entire trade history for you to analyse.

further to this, the copytrade is full of bugs, with stop loss's not updating, platform malfunctions, trades not executing correctly and login errors during busy periods. all these things will eventually cost you money, as they did me. i asked eToro for a refund on some of the losses caused by malfunctions in the platform, but they said they had no record of a malfunction, despite 100's of traders stating on etoro they experienced the same malfunction.

Next probalem, is they dont give you enough control over your copied trades, in terms of how much you invest. you only invest a certain amount with and trader to use as if it was his own basically and if he trades with 5% of his equity, then it trades with 5% of what you invested in him, which is 5% of maybe the 20% of your own equity you invested with him/her. this in theory is great.... but traders will often emotional and revenge trade, have extremely excessive exposure on their accounts. risking all the money you invested in them, which goes wrong, and you end up with a horrible drawdown that inevitably hits SL and you lose.

my answer to all this was to minimise risk by copy lots of traders, with minimal amount depending on how much i want to risk, but copying more traders seems inevitble lead to more drawdown, and drawdown is what will kill your account.

So i got tired of eToro and started moving money over to Zulutrade... Which for me is a godsend compared to the bad experience i had at eToro. firstly the website and mobile app are awesome, and feature rich, giving you complete control over how you copy your traders, ie stops, tp's, lots per trade, max trades. this makes copy trade hugely less risky. with this, and the fact you can analyse signal providers history dating back years in full detail, and very accurate, as you are looking at their performance in pips, rather than misleading percentages.

for a start the Signal providers have real incentives to perform well, if profitable, they can get paid thousands of dollars a month, relative to the number of followers and how much they trade. and secondly if they are not profitable, or they hold large drawdown, they simply dont get paid. and thirdly, zulutrade, mnitors the behaviour of all the traders and nice gives you an email when one particular trader appears to have changed his trading habits, or is performing worse then normal

You can evan select traders and backtest their performance on your account. naturally starting on zulutrade, i went through a little down period filtering out the bad traders form the good, but once if found my dream team of SP's zulutrade has become extremely profitable for me. I have found is better to carefully select, demo then follow as many traders as possible who are performing well with minimal risked amount on trades. as my equity rises, i would rather find another trader to add to my profile, then upp the lots for a currently good performing trader. then if one trader has a bad month, it will be covered by the selection of other good perfroming traders i am following. as others have said, dont trust the top rankings blindly, there are many of other great traders outside of the top 100. im with AAAFX, so the slippage is usually nor more then a pip if any.

i still trade manually in my own time, but zulutrade has actually turned out to be very profitable for me until i have the time to trade myself on a more permanent basis

Sorry of the long post! i just got carried away because i had such a bad experience with etoro, and such a good one so far with zulutrade.

Thanks,

Slum

I have practiced with etoro for more that a year and have traded on a real account there for like 5 months. I must say, it is great for complete beginners but when you get quite experienced, better move to another one. One downside is that the servers are really slow. However, concerning payments, i have never had any problem with them.

I now trade with XEmarkets and i find it much better than etoro.

Hi everyone, I'm a reporter and am writing a story on social trading networks. I was wondering if anyone who has used them and has some thoughts on the pros and cons could speak with me. It can be via email, pm or the phone. They seem like a good way to learn how experienced traders work but I wonder if the hypothetical returns some of the sites use to lure in clients can really be trusted. Thank you!

One of the first brokers which introduced me to the forex trading business but never had any real account in this broker.

I wrote you a message Sheyna.

Do they offer this on the MT4 platform? I have never heard of guaranteed sl before... can you post a link?

When you place an order or open a trade ,..the SL is automatically filled for you (also TP)

Etoro is not a broker but an Introducing Broker, I forgot which

On Friday's they close one hour early, even gold, and they have over the weekend fee's

I've had a live account with eToro for more than eight months now. I open it because it was recommended for beginners. I was a beginner at that time (i'm and advanced beginner now). At the same time I was using practice accounts with other brokers and then I found Metatrader 4 and after that Metatrader5, and started using things like trailing stop loss, signals, expert advisors, etc. What a surprise it was for me when I found out (after a longtime of googleing) that eToro only allows the use of Metatrader for accounts with a balance of 20,000 dollars or more. Very disappointing !

After some time I've come to the following conclusions

1. eToro emphasis and effort goes to Social Trading (I'm not a fan of Social anything myself)

2. They are not going to do anything to improve their trading platform any time soon, not even adding such a basic thing as trailing stops !. I mean, how difficult can this be ?

So I'm thinking... all their resources and efforts go to marketing their Social Trading platform, OpenBook. Then my doubt is, how many serious and experienced traders are using eToro if the trading platform is so primitive ?

To wrap it up, these means that when somebody copies a person's tradings, they are coping beginning traders also, and even worse, people are coping people that are copiers themselves.

So, PLEASE ETORO IF YOU'RE READING, EITHER IMPROVE YOUR TRADING PLATFORM OR ALLOW METATRADER FOR EVERYBODY
and we will have more experienced traders.

^^^ to answer your question. I doubt any serious and experienced traders are using E-toro to trade.

It's designed for noobs to follow other noobs trading signals. They can then tell all their friends that they are a big shot currency traders.

WELCOME ETORO

Can you? I'm doing research. So that kind of information could be very useful. Thank you

Etoro you can trade for funn with 50 $. Not serius broker at all. Now after CPI Flash Estimate y/y 0.8 price is 1.38 and I want short msg: We are sorry but there seems to be error. Please try againe in few seconds. Joke broker