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eToro Bitcoin CFD Trading Platform
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eToro – The best alternative to Plus500
eToro is a brokerage platform created for financial trading. It is an investment platform which is suitable for everyone. It was founded in 2006 with its headquarters is based in Tel Aviv, Israel.
eToro started as a dream of two brothers – Ronen and Yoni Assia; and their business partner, David Ring. eToro has grown exponentially since it was founded and is currently among the top-rated social trading networks. The eToro platform has more than five million users from over 170 countries of the world. Traders have access to trade in CFDs, currencies, indices and so much more.
eToro is a regulated body and it is registered in the UK under the registration number 7973792. It is authorized and registered by the Financial Conduct Authority (FCA). It is also a registered Cypriot Investment Firm (CIF) and regulated by the Cyprus Securities and Exchange Commission (CySEC). eToro is not active in the U.S and does not accept customers based there.
In 2010, eToro launched its social investment platform “OpenBook” along with the company’s “CopyTrading” feature. It also launched its first Android apps to help investors trade using their mobile phones. These innovative platforms introduced allows investors to monitor, follow trading activities in real time. It has recently been replaced with an all-in-one eToro platform which is also available for Android users.
Who Can Use eToro?
Anyone can use the eToro trading platform as long as it is legal to do so in their country. eToro keeps a running list of countries where the platform is unavailable as it is conflicting with their trading laws. Traders from such countries will not be able to use the eToro platform. Such countries include Canada, United States, North Korea, Japan, Iran, Syria etc. users should check the list before enlisting to know whether their country is eligible to use the platform.
Trading Software
eToro was initially leaned towards new and inexperienced traders. The original platform included a display of currencies racing each other. The broker’s previous platforms have since been developed into the all-in-one eToro platform. This platform is available on Android and iOS, and it combines all of the previous features plus new ones.
Fees and charges on eToro
As with every exchange platform, eToro makes its profits from the fees it charges. When opening an account, no fees are charged. Traders need only pay on the spread. The platform has a list of minimum spreads for each cryptocurrency but these fees are not guaranteed because spreads vary based on market conditions and liquidity.
Deposit and Withdrawal on eToro
There are various ways to deposit methods on eToro, depending on your needs and the amount being deposited. Note that different methods have different minimum deposits. You can make deposits through wire transfers, Visacards, Webmoney UK, bank transfers, NETELLER, MasterCard, Yandex, PayPal, Skrill, and so on. Withdrawal is relatively easy as all you need to do is fill out a withdrawal form and then you can receive the money through PayPal, credit or debit card or through a bank transfer. A soft copy of your signature is needed to withdraw as well as proof of address and a colored passport copy.
Customer Support
eToro’s customer support is available 24/5 – from Monday through Friday through emails and telephone. Emails sent to their customer support will typically be replied within 48 hours. They do not have a live chat function but they have a “customer service wall” where customers can interact with one another in a forum kind of format. Many questions raised on the forum are answered by referring customers to the online guides and eToro’s knowledge base. The eToro platform also has a personalized digital customer service feature. This feature is provided by a company called “Nano Rep” and is readily available by clicking on a button to the bottom left corner of eToro’s customer service page.
Conclusion
eToro is a safe-to-use trading platform which focuses on more than just cryptocurrency trading, it is a great platform for those who invest in cryptocurrency. The additional features such as CopyFunds and various graphs added by eToro gives it an edge over its competitors. The platform is also highly intuitive and is easy to use.