Option Investing Partners – forex broker review
eToro The social Forex trading revolution has begun
Investors Buz – Global Markets Roundup
Option Investing Partners – Fx broker eToro is nothing like the stodgy brokerage firms you may be familiar with. The company provides what it calls a social trading platform that connects you with millions of other currency traders. Using this social trading platform, you can copy other traders, search for trading gurus, follow other traders and post comments. OpenBook is a cross between Facebook and Twitter, but for foreign exchange traders. It presents a live feed with buy/sell activity as well as a list of the top performers and their gain percentages. OpenBook is a great tool for helping new traders monitor the market and learn from others.
The market maker Fx broker eToro only requires a minimum deposit of $50 to open an account and a minimum transaction size of 1,000 units per order. Leverage ratios vary depending on where you are trading from. The U.S. limits leverage to 50:1, but from other countries, traders can leverage up to 400:1 with eToro. However, this forex broker only supports spreads down to two pips, whereas many brokers now go as low as .1 pips. eToro does offer Islamic accounts and takes deposits in USD, EUR and GBP.
This Fx broker is regulated by numerous regulating agencies in the U.K., Germany, Denmark, the United States and Australia. It can offer cross-border services to members of the European Union. Clients from Asia Pacific and Australia trade through IC Markets Ltd, which is licensed by The Australian Securities and Investments Commission (ASIC). In the U.S., eToroUSA is operated by Tradonomi LLC, which acts as an introducing broker to Institutional Liquidity (ILQ). eToroUSA and ILQ are regulated by the Commodity Futures Trading Commission (CFTC) and are members of the National Futures Association (NFA). Forex trading
eToro accepts traders from around the world, making this a truly international broker. They are currently authorised and regulated by the following regulatory bodies:
- Europe: The Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (UK). eToro also operates under the Markets in Financial Instruments Directive (MiFID), and offers cross border services to all member states of the European Union.
- Australia/Asia Pacific Regions: The Australian Securities and Investments Commission (ASIC) covers activity from all traders in Australia and the Asia Pacific region.
- USA: eToro is regulated by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA) or America, however, they do NOT accept US traders at this time.
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