E Toro is a Forex, commodities and indices trading platform website that allows its users to trade currencies on the market. FX which is short for Forex simply stands for the process of buying one currency and selling another simultaneously. Trading currencies is similar to trading equities, except for the fact that you are trading countries currency worth opposed to the value of a corporation.
About E Toro
E Toro was built with the beginning Forex trader, as well as the seasoned Forex trader in mind. E Toro offers an easy to use interface that offers a variety of tools for its subscribers. When opening your E Toro account you will need a minimum deposit of $50. You can transfer money to your E Toro account via wire transfer, credit card, pay pal as well as online bank transfer. If you are looking to use leverage on your side, the minimum transaction size after leverage is $1,000. For those not familiar with the term leverage, it’s simply using borrowed money to increase the magnitude of your trade. As far as commission goes, E Toro offers commission free deposits, commission free trading, as well as commission free withdrawals so there are no hidden fees involved.
E Toro Quick Facts
When trading currencies the spread is a vital thing to consider. The spread simply defined is the amount between the ask and bid prices. The spread is determined by the liquidity of the market; with E Toro being one of the volume leaders in the Forex market, you can get spreads as low as 2 pips on the EUR/USD pair. Also because E Toro is one of the largest Forex brokers, you will have the luxury of instant executions on your trades paired with the low spread. This quick transaction is vital towards the transparency of your transactions. Using the community function of the E Toro software, you will be able to chat with other Forex traders live to get others insight into the market as well. E Toro also allows you to get insight into the biggest Forex traders transactions so you will be able to easily follow where the money is moving.
E Toro Services and Support
E Toro has great 24/7 customer service support via e-mail, as well as the option to chat with a live person via a quick chat box. They offer numerous instructional videos that cover a variety of topics of Forex trading for beginners all the way to advanced traders. These videos are aimed towards not only the actual use of the E Toro program, but towards insight into the markets as well as future trends of Forex trading. E Toro also offers professional charting and graphing tools as well as up to the minute financial news that spans the globe. If you are a beginner to Forex trading, E Tore offers “play money” settings where you can trade Forex with real time quotes without the risk. You can develop your strategies in the “play money” setting, and then execute using real money. E Toro however is not an online program, so if you decide to trade with E Toro you will need to download the software onto your desktop.
Whether you’re an advanced Forex trader, or just thinking about giving currency trading a shot, E Toro is a good option for you. E Toro offers a variety of different tools to maximize your trading experience, as well as “play money” settings for the newcomers. Using these tools and the “play money” settings, you will be able to develop a winning Forex strategy using E Toro.