eToro website can be used to trade not only the usual instruments but also cryptocurrencies. In terms of weak points of this website, one of the problems is the presentation of fees for services rendered. Although there is no commission, there is a withdrawal fee of 25 dollars and moreover, there are conversion fees on deposit and withdrawal for some currencies. In addition, trading spread is not fixed and depends on individual instruments. Based on the European regulations, the maximum allowable leverage is a bit lower in comparison with the one used in the past. As for cryptocurrencies, the maximum leverage fell from 1:30 to 1:2.
Describing the overall web design, it can be described as traditional, considering trading pages. One of the very practical features of the web site is the top navigational bar which can be opened automatically after placing the cursor on it. Used colours make the web site look dynamic and aggressive. On the contrary, the main weakness of the web page is the fact that some of the pages are too long. A better solution would be to split them which would improve the website’s usability.
News and other information
Despite this website lacks a traditional news section, there is a blog with a range of useful posts focusing on traditional market analyses or items of lower importance. Generally, the blog is not complex enough for an investor. However, it offers variety of interesting insights. The most interesting feature of the website is social trading which means that investors can choose to copy the portfolio of another investor, who obtains a benefit for each copy.
Another interesting feature of the is the economic calendar and an earning call calendar. Also, investors can utilize additional activities, for instance, the website offers trading webinars.
Some users may be dissatisfied since trading via eToro is done only by a webtrader. To sign up, it is necessary to fill in your name, surname and telephone amongst other things, but there is no verification.Unfortunately, there is no special demo acccount. But you can switch in the app from virtual trading to trade without risk. In the webtrader, trading itself is fairly simple, especially because you can choose what you want to trade, and you can also select if you want to buy or sell. You can customize your leverage for most instruments, stop loss amount, etc.
Users can find some information in the application, for instance, how the price of the chosen commodity changed in time, or they can find trader’s sentiment (which shows preferences of other people – buy / sell). In addition, users can choose the view of what other investors do with their portfolio.
The website has its strengths but also its weaknesses. We consider some of the features such as social trading very interesting and practical, if risky for new investors. However, we lack easy access to necessary information and the website should be modified to make it more transparent.
eToro is based in Cyprus like many other brokers. You can contact the company by online chat, email or also by telephone.
Overall assessment: 2-