EToro is a very popular forex and CFD broker, with over 4 million users in over 130 countries worldwide. There are hundreds of different types of financial assets for you to trade on eToro, categorized into commodities, crypto assets, currencies, indices and ETFs.
Recently, eToro has received great attention from the Vietnamese investor community. What is eToro, the information about the exchange, is eToro a scam, the advantages and disadvantages of the floor, what is the currency used, how to open an account… are the concerns of many traders and brokers. interested in Vietnam.
We have tested the eToro platform and its services. Our tests cover some of the features of the exchange such as trading platforms, social networks, copy trading features, security and customer support. From those experiences we consider eToro a safe exchange, although eToro has a few weaknesses compared to other brokers. The most innovative and differentiator of eToro is social trading. If you are interested in social trading or copy trading, eToro is the platform for you.(eToro exchange)
Open an account
eToro allows easy account opening with a minimum deposit of only $200 (VND 4,600,000).
eToro offers its services worldwide. However, residents of the following countries are not allowed to open an account on eToro: United States, Brazil, Syria, Turkey, Cuba, Sudan, Canada, North Korea, Japan and Iran.
The eToro exchange requires a minimum deposit of $200 (VND 4,600,000) to start trading. After depositing, users will be able to use all the features, because on this exchange there is only one type of account.(Read more : copy trading)
How do I open an account on eToro?
Register to open an account
eToro has implemented a simplified account opening system. This is a form with about 10 questions, which is the procedure for verifying your account. Users need to provide personal information and then complete a multiple choice questionnaire about your online trading experience.
Account Verification
To verify your account, you must submit two documents: a photo of your ID card or passport and a photo of a recent bill of yours to verify your address and identity. Verification is a required part of the registration process on the eToro platform. Users can use the eToro app to scan documents directly to the platform.
Currency unit
The eToro exchange offers only one option for the base currency of your trading account, the dollar. That is, conversion fees will apply to your deposits and withdrawals on the exchange. To avoid currency conversion fees, you can open a multi-currency bank account.
Demo account on eToro . exchange
The eToro exchange offers a free demo account to users. As long as you provide your email, the broker will give you a free demo account with an amount of $ 100,000 in it to practice and practice trading until you are really proficient with the operations on the platform. and ensure a high rate of return before starting to invest in a certain portfolio.
This account allows you to explore the basic features of the platform and products. You have virtual funds that allow trading on online courses on financial instruments listed on the exchange. Trading on a demo account is simulated trading that allows traders to practice buying and selling products without risking actual capital. The demo account is extremely useful for new traders.(Read more : Day Trading for Beginners)
Deposit and withdraw money at eToro . exchange
More deposit methods than other exchanges, but high withdrawal fees.
eToro is rated as one of the platforms that offers the most deposit and withdrawal options. In addition to card deposits and bank transfers, investors can deposit using PayPal, Skrill, Neteller, Webmoney and Giropay. eToro charges a currency conversion fee when you deposit or withdraw funds from your account in a currency other than USD. This exchange charges a fixed withdrawal fee of $5 for all withdrawals
For bank transfer deposits, it will take 4 to 7 days for the funds to transact on the platform. On the contrary, when you top up with a card or e-wallet, you will have money to transact immediately. You can only credit your eToro account with accounts in your name. The same goes for withdrawals.
Some notes when depositing money by wire transfer through a bank account
- Bank transfer payments can take 4-7 business days to process.
- Your eToro trading account will be credited once the transfer has been confirmed by your bank.
- The exchange rate to USD will be calculated according to the date the deposit is processed into the account
- You may be charged by the deposit service provider in connection with the transaction (intermediary bank, receiving bank).
When withdrawing, you can withdraw your funds in the same way as when making a deposit. When withdrawing by bank transfer and card, the maximum waiting time is 8 days and if withdrawing by e-wallet, it is less than 2 days.(Read more : Scalping trade)
Trading fees on eToro
Etoro floor review: Commissions and fees are not competitive.
This broker does not charge an account opening fee, no management fee, no position fee and no commission fee when investing in shares. However, the exchange will charge $10 per month after 12 months of no trading activity. Speaking of fees and commissions, eToro is not rated as one of the most competitive brokers.(Read more :Leverage in Financial Trading)
The spread on financial instruments is quite large. For example, for the EUR/USD currency pair, the spread can grow up to 3 pips during the active market. Below, we give typical spreads of some of the most traded instruments.
Leverage fees on eToro
Leverage is an extremely familiar concept for financial investors. Leverage is considered a useful tool for those who have a small amount of capital but want to invest more than their existing capital; or want to double, triple or more for each profit.
The use of leverage at all exchanges in general, and including etoro, comes with a certain fee. That fee is deducted daily and is also known as swap or overnight holding fee which is calculated using uniform equations and will appear on the popup window of the trade before you place the order.
eToro’s annual leveraged fees are generally higher than other brokers. You can check the leverage fee before deciding to place an order
Leverage example
You will also have to consider other costs associated with positions that you will hold for days: minimum deposit fees and swap fees.
You can view a report of your trading activity with all fees and payables for your positions held through a report presented in the form of a graph.
Review of eToro-Trading Fees
In early 2020, this exchange has made another big step: reducing withdrawal fees by 80%. Currently eToro charges a fixed withdrawal fee of $5 (115,000 VND) down from $25, in addition to the amount of banking and currency conversion fees for deposits and withdrawals. The minimum amount users can withdraw is $30 (VND 700,000). This means that you can only make withdrawals when your account has more than $30.
However, the withdrawal fee, this transaction fee of the exchange is still considered very high, especially when some other Forex and CFD brokers offer free withdrawals.
Trading platform
Etoro Exchange Review- User-friendly platform suitable for beginners.
The eToro social trading platform is web-based and oriented towards ease of use. eToro is appreciated for its beginner-friendly design. The content is simple, intuitive and translated into multiple languages: French, English, German, Polish, Greek, Chinese, Arabic, Russian and Spanish and Vietnamese .
eToro has focused on user experience and made CFD trading on its platform as easy as possible. The design of the platform matches and the items are the right size.
However, this platform cannot customize the display configuration, unlike some other advanced platforms like Metatrader. You will not be able to change the layout of the menus or place many graphics in the main window.
Review eToro-Announcement
The platform allows you to set price alerts. The platform sends a notification when the instrument you are interested in reaches a certain predefined price. You will also receive notifications when your orders are executed at the market price or when they are closed. The alert system is very convenient to use on a mobile device, as the app sends the user notifications through the app
Review eToro-Security
eToro operates under FCA, CySEC and ASIC regulations, which means that measures are in place to protect users. At this exchange, customer funds are kept confidential in first-class banks, all their personal information is protected by SSL encryption.
They also provide an option to enable Two-Factor Authentication (“2FA”) in a user’s account, which requires entering a verification code sent to a mobile phone via SMS to access the account.
Review eToro-Social Trading
Today there are many online exchanges that offer social trading. But most come in the form of Multi-Account Manager (MAM) and require some parameters that can take a long time to set up. eToro stands out for its simple social trading platform. Like social networks like Facebook or Twitter, you can follow other traders or investors.
CopyTrader is the most distinctive feature of eToro
CopyTrader allows you to see what real people are trading in real time, find and follow traders you like, and of course, copy their trading activity with just a few clicks.
Here are some minimums and maximums to keep in mind:
- $200 is the minimum amount to invest in a trader.
- 100 is the maximum number of traders a user can copy at the same time.
- The maximum amount that you can invest in a trader is $2,000,000.
The minimum trade size is $1 – if the proportional amount in the copier’s account is less than $1, the trade will not be opened.
Likewise, you can track a certain instrument, so you will have updates from all other traders on eToro regarding the financial instrument in question.
eToro ranks signal providers according to their trading performance and reputation. Thanks to that, you will have many options.
You can view traders’ positions and comments without copying their trades to your account. You can subscribe to a trader to receive notifications every time they post a comment or open a position in the market.
You can also directly copy traders’ positions on the account if you have enough confidence in their performance. In this case, eToro has launched a risk management tool. Like a position of your own choosing, you place a stop loss order first, as well as the size of the positions to be copied. These settings will apply every time a trader opens a position, so you won’t have to redefine them for each position.
With CopyTrader, users can
Search for top traders and filter results based on profit, success rate, risk score, preferred assets, and more.
Clearly see the statistics of the traders you want to copy
Check out our Editor’s Pick to find successful Popular Investors
If you feel qualified too, you can also join the Popular Investor program and receive monthly cash payments and other great benefits.
Review eToro- Mobile Platform
eToro has developed a mobile application. The app is available for Android and iOS operating systems and has the same features as the web platform. User can access eToro mobile app easily, by swiping side, user has access to different sections of the app: favorite list, chart or transaction terminal Translator allows you to place orders
Etoro floor review-Markets and financial products
eToro offers trading of over 1500 CFDs as well as the ability to buy cryptocurrencies.
CFD trading is a trading method in which an individual contracts with a CFD broker instead of buying the underlying asset directly. CFD stands for “Contract for Difference”.
On the eToro exchange, you can make countless trades through CFDs. The advantage of CFDs is that you can buy or sell any instrument with no strings attached. You will find stock CFDs, ETFs, commodities, indices, as well as Forex and crypto currency pairs.
➤ Stock CFDs: Stocks are one of eToro’s strong products. eToro allows you to trade over 1000 stocks with CFDs. You will have access to live view of the most traded stock prices on the major stock exchanges. More than 600 US instruments are listed as well as more than 300 stocks listed on the London Stock Exchange.
➤ Indices CFDs: You can trade indices up and down. The most famous indices include: SP500, DAX, CAC 40, Eurostock, etc.
➤ Commodities CFD: You can diversify your portfolio with commodities. You will find 6 raw materials, including gold, silver, platinum or oil.
➤ FOREX CFD: More than 40 currency pairs are available now and you can speculate on their prices.
➤ Cryptocurrency CDF: eToro did not miss the revolution of the crypto market. This platform allows you to trade cryptocurrency pairs as CFDs. Alternatively, you can also buy crypto on eToroX.
Etoro-Portfolio Review
A portfolio in English is a Portfolio Investment, which is a group of many assets, such as stocks, cryptocurrencies, ETFs, and even people, grouped together based on a theme or strategy. are predefined to create a combination of asset classes to achieve high returns and reduce the risk of the overall investment. Portfolios are created with a long-term strategy in mind, therefore, they can be considered suitable for investors who want to take a more passive approach.
Most portfolios are created and managed by the eToro Investment Team. The team thought and considered a lot, taking into account factors such as balance, access, potential return, risk, etc. to build each portfolio.
Featured portfolios include: Creative Themes, Top Trader, Partner Portfolio
Etoro Review- Cryptocurrency Exchange Platform, eToroX
In case you want to buy cryptocurrencies available on eToro, this exchange has developed a dedicated trading platform called eToroX. According to information from this exchange, they will continue to expand their crypto product portfolio.
Buy Cryptocurrencies on eToroX
To buy cryptocurrency, you must first have an eToro account. The Gibraltar Financial Services Commission (GFSC) regulates eToro through the platform. As a regulated exchange, eToro is considered by investors to be more secure than some other trading platforms.
eToro provides users with an electronic wallet to store cryptocurrencies: eToro Wallet. This wallet is compatible with 6 cryptocurrencies: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM) and Ripple (XRP).
How eToro wallet works
The eToro wallet works like any other cryptocurrency portfolio. You can send, receive or store slots on the eToro Wallet. However, please note that when trading cryptocurrencies, you will be redirected to the main eToro platform.
eToro live cryptocurrency trading is often suitable for investors who want to hold their money for the long term.
Research
Etoro Exchange Review- A platform with rich financial information and innovative graphical tools..
eToro’s various market analysis tools are available in multiple languages, including Vietnamese. On this point, the exchange is considered very convenient for users, because most of the exchanges are not available in languages other than English.
Fundamental analysis
For the most popular financial instruments available on eToro, you’ll find a variety of economic indicators and investor sentiment, such as analyst consensus and their reports, or sentiment. hedge fund.
When you open the action statistics tab, you can view some of the data related to the company as their latest published results. The News Feed dedicated to the same company allows you to view the publications of other traders and investors about the company’s stock or their activities.
Technical analysis
The eToro platform has a chart window in which you can analyze the historical price information of the financial instrument of your choice. Previously the charting integrated in the previous platform was very basic, with very few options.
But eToro recently upgraded the tool and now has over 60 technical indicators and plotting tools to highlight chart metrics. You can also change the chart type (Japanese candlestick structure, online, etc.). Plus, the chart backs up your settings, so you won’t have to reset your preferences.
Etoro Floor Review-Customer Support
The customer care team is hard to reach, but they do have a detailed set of frequently asked questions available on their website.
eToro customers will find a detailed FAQ that provides answers to most questions regarding the platform or depositing and withdrawing funds at the website. Frequently asked questions and updated knowledge section in Vietnamese for users in Vietnam. However, eToro does not have many channels to contact. There is no customer care line by phone or chat box. To contact customer support, users send an email message and they respond by email.
Etoro-Training Floor Review
Very basic trading training and few training resources.
eToro provides training on trading on eToro, but the content is not too detailed. These are videos that provide the basics of trading on eToro and the financial markets. There are no quality guidelines for specific aspects.
In fact, eToro hasn’t updated this section of its website for a long time and doesn’t have much funding for training. Webinars are also held from time to time. However, the broker’s demo account does not limit the rights, so you can use it to practice and develop your investment strategies.
Etoro exchange review- regulated and guaranteed exchange
The exchange is regulated by many agencies and guarantees the amount of capital allocated.
When interested in an online trading platform, the first thing traders in the market wonder about is whether the exchange is safe or not. This exchange is registered with CySec and as such, it conforms to European financial regulation standards.
FREE Investment Insurance up to 1 Million Euro/GBP/AUD from eToro. eToro offers customers free insurance, purchased from Lloyd’s of London, one of the world’s leading specialty insurers, offering coverage up to 1 million Euros, GBP or AUD (depending on region) ). This coverage is offered automatically to all eToro customers — no registration required.
This insurance covers the claims of Eligible Customers (of eToro (Europe) Ltd., eToro (UK) Ltd. and eToro AUS Capital Pty Ltd.), who suffer losses due to a rare event. is eToro insolvent and in the event of Poor Management Conduct (as set forth in the applicable policy).
Please note that eToro does not protect cryptocurrencies purchased on eToro’s platform.
Conclude
From various testing on the eToro platform and the exchange’s services, we can conclude that this is a reliable broker, regulated by many financial market regulators.
The exchange offers a wide range of investments for easy diversification, featuring social trading features that not only allow tracking of the positions of other experienced investors, but also trading signals. platform-specific translation.
