eToro

 

 

 

There's something Big happening in the world of Forex:

 

the eToro trading platform.

 

eToro is a visually engaging forex trading software that makes trading simple and friendly, appealing to newcomers and experts alike!

 

According to eToro they now have over 5 Million Social Traders and the number is still growing!

 

 

If people join eToro at this rate,

they certainly must know something worthwhile!

 

 

 

 

Why

is it that people are so excited

about eToro?

 

 

The answer is because of the Open Book and Copy Trader systems as well as other benefits that they have recently implemented.

 

 

 

 

 

1. The Open Book System:

 

eToro has more than 1,500,000 international trading accounts and they are listing all the top traders on their website in order of performance.

 

Performance is measured on a weekly, monthly, 3 months, 6 months and yearly basis and you can select the timeframe that you are interested in to look at and compare your trading results to the results of other traders. These lists are updated the whole time.

 

Example of the 1 month rankings showing the  results of the top traders over the last 30 days :

 

*Results as at 08/07/2011

 

 

Wow, will it not be absolutely fantastic

if you can get similar results on you trading account?

 

 

The good news is that

with the Open Book System it is now possible!

 

 

If you go to Traders Feed, you can see exactly when people activate and close their trades. It is like looking over the shoulder of another trader.

 

If you select the Follow option, you will be warned every time a certain trader does a trade ...

 

You can now copy these trades

(= activate it on your own account)

if you want.

 

If you are struggling to trade successfully on your own Open Book enables you use the knowledge and skill of advanced traders to help you to determine when to enter and exit a trade for the best profit potential.

 

There is no extra fee for the use of this service!

 

You only pay the standard pipspread per transaction.

 

 

The Open Book system will also show you how many people are buying or selling a certain currency combination, giving you an idea of the direction that the market is moving.

 

Click on the dropdown button on the right and test the various settings to see what differences it makes ==>

 

It is very interesting to look at the direction various groups of traders are trading.

 

 

It may help to follow the crowd!

 

2. The Copy Trader system:

 

This is even more exciting!

 

Some people are paying hundreds of dollars every month for signals that will tell them when to enter or exit a trade.

 

The newest Copy Technology (again costing you hundreds of dollars per month) enables you to copy the trades of experienced traders directly to your account with no time delay.

 

 

eToro now gives you this benefit for free!

 

 

The Copy Trader function allows you to copy the trades of successful traders in real time to be duplicated on your account with a certain percentage of your money.

 

  • Trades done by experienced and successful traders will be copied and duplicated to your account even when you are not in front of the computer, and even when your computer is switched off!

  • Unreliable internet connectivity, power failures, computer crashes and costly VPS hosting is no longer a problem!

  • You are free to switch between traders any time you want.

  • In order to keep the risk under control, you are allowed to use only a maximum of 20% of your account size this way.

 

With the Copy Trader system

it is now possible to earn money

even when not in front of your computer!

 

 

How does it work?

 

You select traders on the Ranking lists that you are interested in, and study their results.

 

 

 

You can see here that gregaylmer is a reasonably careful trader and that 87.3% of his trades in the past month resulted in profits.

 

His account is up by 293% profit in the past 30 days!

 

If you decide to copy his trades, you click on the Green Copy Trader Button to link your account to his and select the amount of money to make available for trades done by this trader.

 

He / she will now be listed in your trading account and you can see whenever trades are done:

 

 

The trades will be done automatically on your account without you having to be in front of your computer or the computer having to be switched on.

 

You can also look at the history to see closed trades:

 

 

As can be seen above the percentage rate of successful trades is very high on the traders I selected for this test-run.

 

 

Does it really work?

 

They say:

 

The proof of the pudding is in the eating.

 

 

I deposited $1,217.00 into my eToro account (10/03/2012) and selected a few successful traders on the 27/03/2012.

 

I allocated a very small amounts of 2.5% of my account size to the different traders. A total of only 12.5% of my account size has been allocated at this time in order to keep the risk low.

 

Here is a copy of my eToro live account statement at 30/02/2011 after 3 days of trading:

 

 

 

No losses so far and $34.61 profit!

 

This is a 2.8% growth on my account in 3 days.

 

If we can keep this up it can give me a 28% growth over a period of a month which is excellent!

 

 

3. Weekly Trading Challenge

 

The Weekly Trading Challenge is a Demo Trading Competition that is FREE to join, with real prizes to be won at the end of every week!

 

The top 100 participants will each receive a price.

 

Participation in the Trading Challenge gives you an aim and purpose to work for while you are practicing your trading methods on your demo account. There is no risk involved with real money at the end if you succeeded in making it to the top 100.

 

This is a fantastic way of learning - you get paid if successful ...

 

How much can you win?

1.           $1,500.00

2.           $1,000.00

3.           $  500.00

4. - 10.   $  300.00

11 - 100. $  250.00

 

 

 

4. Forex Bonus

 

 

Start trading Forex with eToro

and receive up to $10,000 bonus on your first deposit!

 

Care for some extra trading cash to get you started? Make your first deposit with eToro and you'll automatically receive a bonus gift of up to $10,000 instantly.

 

To determine the exact bonus you'll be receiving please refer to this convenient guide.

 

The eToro bonus reward program:

 

Your Deposit

Your Bonus

$100-$399

$25

$400-$999

$100

$1,000-$4,999

$250 and qualify for a Silver Trading Account

$5,000-$9,999

$500 and qualify for a Gold Trading Account

$10,000-$19,999

$1,000 and qualify for a Gold Trading Account

$20,000 and more

10% and qualify for a VIP Trading Account

 

 

I am very excited

about the wonderful opportunities

offered by eToro!

 

 

However, in order to give you a balanced view about trading at eToro, there are a few things that I must point out:

 

 

A. The graphs are not exactly up to standard.

 

 

  • Your choice of graph types is very limited - at ChooseMode you can only select between a Candlestick and a Line graph.

  • Your choice of timeframes is very limited - you can only select between a 1m, 5m, 15m, 1H and daily graph.

  • You can only see one graph at a time.

  • There are no indicators available to put on the graph!

  • You can draw a Trendline, a horizontal line and a channel, and measure the number of pips from one point to another. That is all.

  • The graph is not even in the same Tab as the trading window. So you cannot see the trading window (= where you open and close a trade) and the graph at the same time.

HINT: My recommendation is that if you plan to trade at eToro, open a demo trading account at a broker who uses the Metatrader platform and use Metatrader for the graphs. You have a huge number of indicators available on Metatrader.

 

B. There are no EA's (= Expert Advisors or automated trading systems) available for eToro and none of the Metatrader EA's will work here.

 

There is nothing that prevents you from running an EA on Metatrader and then manually activate a trade at eToro whenever there is a signal on Metatrader.

 

C. The Pipspread (Cost per trade) is a bit higher than at some of the other companies.

 

 

FX Clearing

Tadawul

eToro

GBP - USD

2 pips

3 pips

5 pips

EUR - USD

1 pip

2 pips

3 pips

USD - CHF

2 pips

2 pips

3pips

USD - JPY

1 pip

2 pips

2 pips

 

There are however some combinations that are cheaper to trade at eToro, so it can be that in the end everything balances out.

 

 

In my opinion the positive elements outweighs the negative elements by far.

 

There is no other forex brokerage that I know about

that gives you a Copy Traders function like eToro has

without charging anything extra!

 

 

You should seriously consider it to open an account at eToro.

 

 

 

Special Promotion

 

 

If you plan to open your eToro account with a deposit of at least $100.00 you can get a bonus of $50.00 instead of the standard bonus of $25.00 as explained in paragraph 4 above.

 

In order to qualify for this bonus

do not sign up directly on the eToro website.

You must send me a message with your contact details

(Name & Surname, Tel / Cell number and correct email address)

telling me you are interested in the eToro Special Promotion.

 

You will then receive a special invitation

to which you must respond.

 

 

 

 

 

 

Yes, I am interested in signing up

for an eToro live trading account!

 

 

OOPS! You forgot to upload swfobject.js ! You must upload this file for your form to work.

 

 

 

If not interested in the Special Promotion,

click here to apply for your

 eTORO

Free Demo Trading Account.

 

 

 

Please keep the following rules in mind:

 

1. There is always risk involved with any kind or trading, no matter what anybody may say or promise.

 

2. Even though some of the traders have done exceptionally well in the past, it is no guarantee that they may be able to repeat the same kind of performance in the future.

 

3. Therefore do not trade with money that you cannot afford to lose.

 

4. If you decide to make use of the trading skills of other traders by using the Copy Trader facility offered by eToro, do not go overboard!

 

Carefully select the traders you intend to copy and study their results.

 

Low risk:

 

This result belongs to a trader who is very careful and conservative is his / her trading methods.

 

It is very likely this person will continue to be successful in the future.

Medium risk:

 

This trader is careful and conservative is his / her trading methods, but allows the market to go too many pips in the wrong direction at times.

 

It is very likely this person will continue to be successful in the future, but the trading method may eventually result in huge losses.

High Risk:

 

This person is not worried about taking a change or risking the money in the account.

 

Although he / she can do well over the short term, it is likely that this method of trading may result in huge losses in the future.

 

Gambling is not the answer for successful trading.

  • The longer the period that a trader succeeded in being successful with his / her trades, the more likely it is that this is indeed a skilled trader who will be able to repeat the same kind of performance in the future.

  • If a trader performed very well in a short period, it may have been due to luck or gambling!

5. First test the traders you picked on a demo trading account to see how well they trade and what is the risk involved in their style of trading. If you decide you do not like a certain trader's style, remove this trader from your list and pick another one.

 

6. Only when happy with the results over a period of time can you start copying the traders on your live account.

 

7. Allocate only a small amount of money (% of your account) to any one trader. Rather divide the amount you want to allocate between several successful traders. This way you spread the risk. It is unlikely that all of them will have losing trades at the same time.

 

8. Monitor the results of your trading account on a regular base. If you notice that any of the traders are not performing well, replace this trader with another one which may perform better.

 

If you can suggest additional rules for making the best of this type of trading, please send it to me and I will publish it here. This way you will help other people to succeed as well.

 

I wish you all of the best with your eToro trading!

 

Johan

info@forexmasters.co.za

 

 

PS: If ever you realize that you need quality training in order to understand the markets better and to trade better, do no hesitate to contact me for your training!

 

 


 

 

 

 

Whether you are a newcomer to the forex market or an experienced trader,

gives you the chance to learn and enhance your online forex trading skills

with free training and the availability of the Open Book and Copy Trader systems.

 

Novice traders can learn about the foreign exchange market in a risk-free and cost-free environment, equipping them with the tools and skills necessary to trade under real market conditions.

 

Experienced traders can refine and perfect their strategies making them more successful at their craft.

 

Software: 100% free!

 

 

Apply here for your eToro Forex Trading Account:

 

Click here to apply for your

Free Demo Trading Account.

 

 

After opening a demo account it is easy to deposit money to start trading with a live account.

 

If you are having trouble signing up or require any assistance, please do not hesitate to contact us on info@forexmasters.co.za.

 

 

 

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Disclaimer

 

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

 

The products and services discussed on this webpage are not solicited to S.A. customers.

 

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