Etoro is considered as the best broker for beginning traders and social trading due to their unique “Openbook”. Add a wealth of options to trade cryptocurrencies to that and you have a leading “social cryptocurrency broker” in front of you!
Etoro broker details
Etoro dash trading has put social Trading to a whole new level.
Etoro is one of those brokers which made trading for people incredibly easy! They developed a social trading platform which will allow anyone to trade. With the hype around cryptocurrencies, Etoro of course added these as well and thus, cryptocurrency trading now also has become just as easy.
Features and Account Types
Like most brokers, eToro offers several account types. The one which will be linked to you mostly depends on the amount of money you will deposit. To eToro although, the amount of deposit is not that important as their company strategy differs a bit.
Etoro aims for the investors that in general look to trade through ECN as they are in need of as many traders as possible for their social trading algorithms. With the rates of crypto coins being high already this opened major doors for new traders as now cryptocurrency trading has been made completely accessible for people that are looking for options to trade bitcoin and dash with lower initial deposits.
eToro offers you trading platforms. Of course you would instantly believe one of them would be MT4 but here is the thing. They have their own platform called the Openbook. Their Openbook is a trading platform that contains crowd indicators and a copy trade format.
This will allow you to not only follow but also copy the real successful trades of other traders and thus, make trading incredibly easy for you!
Additionally, they have a webtrader as well which serves the opening and closing of positions and is very comfortable to work with. We are of the opinion that for beginning traders, this truly serves the purpose. Why would a beginning trader need all the features of MT4?
Although the more professional traders might not find this completely easy (as they might be used to MT4), it does not take such a long time to get used to everything and feel comfortable with this different environment.
The etoro webtrader can allow any professional trader to do for what he came as it’s a solid good system. The assets offered are sufficient enough for traders and now, with the cryptocurrencies on board will satisfy anyone for sure.
Etoro allows you to start trading with $50. They offer 3 account currencies which is normal. Of course you could apply for the VIP account as well but as we mentioned earlier, this will depend on the height of your deposit. Lastly, the Islamic account is provided as well but demands a minimum deposit of $1000.
When making some profits, of course there will be a moment where you wish to withdraw some. At eToro, this is the smallest problem. The processing time is fast and the procedure is relatively easy. If you ensure to be fully compliant at start it really won’t be such a headache for you as this can be at other brokers. It is important to mention although that the withdrawal will be deposited in the same account/ credit card as with which you made the deposit.
Customer support is provided 24 hours a day during working days by telephone, chat or email. After making a test call we must say the service was great and we were not speaking to students or computers. Their employees have good and solid knowledge and that is a major extra for us.
After making some trades and taking the time to adjust to the Openbook, we must honestly say the social trading experience was utterly good and above all fun! We had a great time in checking other peoples’ trades and copying them as well. (which resulted in a nice profit by the way :-). The offer of cryptocurrencies is large and still expanding which is great as well and thus, we believe eToro is one of the brokers which succeeded big time in making cryptocurrency trading accessible to people just like you and me.
By doing something different than the mainstream brokers they have become unique and once youre more in touch with them you truly feel that as well. Its a different but extremely fun experience which comes highly recommended by us!
*All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results. This post is for educational purposes and should not be considered as investment advice
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