eToro STP Forex Broker Review

eToro is one of the well known forex brokers that offers a No Dealing Desk, STP execution. Established in 2007, eToro is regulated by CySec (License #109/10) under eToro (Europe) Ltd. complying with the MiFID directives.

Known for its innovation and beginner friendly, eToro makes for an ideal forex broker to trade with if you are completely new to trading forex online. At the same time eToro also offers advanced trading accounts that caters to professional or experienced traders.

eToro STP Trading Accounts

eToro STP Account Types
eToro Premium Account eToro Basic Account
Minimum Deposit $20,000 From $50
Spreads From 2 Pips (USDJPY, EURUSD 3 Pips)
Leverage From 1:2 to 1:400
Trading Instruments 16 Forex Pairs, Gold/Silver/Oil, 6 Indices
Minimum Trade Size 0.01 Lots
Trading Platforms MT4, eToro CopyTrader
Commission Commission in spread (STP Execution)
Islamic/Shariah Accounts Yes
Deposit Currencies USD/EUR/GBP
Base Currency USD Only
Payment Methods Bank Wire, Credit/Debit Cards, Paypal

About the Company – eToro

eToro STP Broker Review

eToro

Established in 2007, eToro quickly grew to become one of the most well known forex brokers. Regulated by CySec, eToro (Europe) Ltd, is registered in Cyprus as a Cypriot Investment Firm, having its registered business address at 7 Omirou Street, Limassol, Cyprus and is incorporated in the British Virgin Islands.

Besides CySec, eToro is also registered with the FSA UK (License #523775) and major financial regulatory authorities in 17 countries across Europe.

The executive board of eToro is made of the following people:

Johnathan (Yoni) Assia – Board Member and CEO
David Assia – Chairman of the Board
Santo Politi – Board Member/General Partner, Spark Capital
Guy Gamzu – Board Member
Avraham Basher – Board Member
Howard Lindzon – Advisor
Anthony Wollenberg – Advisor

In March 2012, eToro announced that it received funding to the amount of $15 million from its main investors Spark Capital. eToro calls itself an investment work with over 2 million traders spread across 140 countries. eToro was the first forex broker to bring social trading and copy trading to traders which was previously unheard of.

eToro Execution Policy

eToro executes trades in a no dealing desk environment via automated Straight Through Processing or STP. Unless an order type is specified while placing your trades, eToro routes the order based on speed and likelihood of execution, price improvements, size improvements and overall execution quality. Traders at eToro can place Market Orders, Limit Orders, Stop Orders, Trailing Stop Orders.

eToro Social Trading

eToro’s social trading feature has been an innovative concept developed by eToro. As soon as it was launched, social trading became a massive hit as other forex broker started following suit and began launching their own social trading platform.

The concept of social trading with eToro is quite simple. When you join the network, you can instantly follow other traders with their trade orders start displaying on your social trading page. Through this interaction, you can not only follow but also opt to copy the trades from “Gurus” via the OpenBook.

This is a great feature for those who want to profit from the forex markets but either lack the knowledge or experience or time. Traders can simply spend an hour or two to research on a “Guru” and opt in to copy the trades onto your own trading account.

eToro – Conclusion

Known for being innovative and beginner friendly, eToro brings a perfect trading environment that makes a beginner at ease while offering advanced trading options for experienced traders. Well regulated across Europe, including CySEC and the FSA, UK, eToro has the right foundations in being a legitimate and an innovative forex broker.

For ECN traders, the STP execution policy might be a put off and certainly you could find better pricing with other ECN brokers, however, traders would have to compromise between pricing and innovative trading opportunities that is offered by eToro.

If you are completely new to forex, eToro is an ideal platform to sign up to and if you are an experienced forex trading professional, creating an account with eToro can bring some fun and excitement and perhaps additional profits as well.

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