ETORO

(www.etoro.com)

• General facts: while being one of the well known brokers (with more than a million clients), eToro put a heavy accent on social trading these days.
• How it works: Their Social Network and platform, called OpenBook, includes the brokerage service. The "Copy trader" feature allows clients to copy trades from the "Gurus" to own live accounts.
• Advantages: eToro offers a wide range of instruments including Forex, indices, stocks and commodities.

  They offer a demo account, training materials and risk/money management features in more than 16 languages.

  eToro is regulated by the Cyprus Securities Exchange Commission - CySEC.

• Disadvantages: come rather from traders and partners complains and reviews, and include questions about void profits, market manipulation and problems for IBs to withdraw commissions.
• Comments: we should keep in mind that eToro concept was initially build for "the greenest" novice traders, who thanks to eToro innovative platform, were able to start trading and understanding the market faster. However, the downside of this came from the reviews and feedback novice traders leave about the broker. Due to lack of experience, many would lose money in trading and thus would blame the broker for own misfortune.
• Fees: "Gurus" receive commission per each follower, while eToro only charges regular spreads to traders, same as in the classic Forex trading.
• Reviews:

  - shakiness of the platform and unreliable server are the most common complaints
  - void profits and problems when funding/withdrawing are the other hot topics
  - positive reviews applause the uniqueness and easiness of the trading platform