Current market situation is not simple. Interest rates are currently very low, and savers cannot expect returns. For this reason more and more people are choosing to try their hand at online trading. The great advantage of this solution is that in some cases very high profits can still be made. One of the most renowned platforms in this field is eToro. It is particularly popular in German-speaking countries and has a large number of registered members. The platform attracts new users with its advantages, which include a low minimum deposit of only 200 euros. There is also a free demo account at the clients’ disposal, where they can test their skills. Let’s find out how the increasingly popular eToro platform works.
Brokers and regulations
It is very important for any broker to have legal regulation, as this is the only way to secure benefits. One of the decisive factors is the location of the company headquarters. It should be noted that eToro is an official and fully regulated broker. This is confirmed by the fact that the Cypriot authorities of CySec are responsible for their actions in this area. The company’s registered office is located in Cyprus, which brings with it some tax advantages. However, clients do not have to bear any losses as Cyprus is part of the European Union therefore it has to comply with European law. This includes, among other things, the security of deposits up to 20,000 euros. Due to the regulations of the Cyprus Securities and Exchange Commission, eToro is a fully secure and legally functioning company. Additional deposit insurance ensures clients’ safe business in this sector.
Terms and conditions of Toro
There are various legends spreading about opening a stock exchange account, which discourage new users. This procedure has been greatly simplified by eToro, which has shortened these activities by offering an online way. So you can set up an account on the site in just a few minutes and quickly start your actions. Most important personal data are entered on the website, and then transferred very quickly to the broker. Verification is only necessary if the client wants to deposit money into their own account for the first time.
A great advantage of eToro is the possibility of opening a demo account. This means that all processes can be simulated in reality, but without the risk of putting real money at risk. It is an excellent option for anyone who wants to try their hand at the stock market. Users have the opportunity to test different strategies for investing, which makes it easier to make profits when trading real money later . To sum up, a demo account can be used by any user completely free of charge, which nowadays is no longer obvious. This is an undeniable advantage that distinguishes eToro from its competitors.
Looking objectively at the advantages and disadvantages presented above, eToro seems to be a very interesting proposition for all those who want to start their adventure with stock exchange. All the advantages definitely outweigh the disadvantages. The range of basic possibilities offered is slightly narrower than that of the competitors, but this is compensated for by the quality of services offered by eToro. Account on the Internet platform is available for anyone who wants to test themselves. After a detailed analysis of the pros and cons, it can be unanimously concluded that this broker is among the top three best services of this type.