Home Forex Trading Why is eToro considered the best Forex broker? – Business Deccan

Why is eToro considered the best Forex broker? – Business Deccan

6 min read

eToro has completely changed the game of trading, making it accessible to many people that had until now thought the Forex market was beyond their possibilities. Introducing copy-trading and a peer-oriented focus, eToro has revolutionized the world of trading.

As you can see in this review about eToro, the online broker not only offers a wide variety of tools for traders but also guarantees the security of all transactions and many new interactive possibilities, especially interesting for beginners, thanks to copy-trading and social-trading.

When it comes to the forex market, eToro has a good reputation for those looking to buy and sell currencies. Let’s see why is eToro considered the best Forex trading.

What is Forex trading?

Forex trading refers to the buying and selling of different currencies. The Forex market, also known as the FX market, is the global market where traders make deals to exchange one currency for another. Profit is made due to the difference of value between the national currencies.

In fact, because of the global extent of the Forex market, it is the largest and the one dealing with the highest liquidity.

A particular aspect of the Forex market is that it doesn’t have a physical centralized location, and all exchange operations are done online. It is also very dynamic and active, meaning that traders have to be ready to face higher risks.

It’s no surprise that eToro, being among the best online brokers, is considered one of the best Forex brokers.

What makes eToro the best forex broker?

eToro has jumped to number one among international online brokers thanks to their commitment to making investing understanding and accessible to all. Social-trading and copy-trading have made the huge broker a definite success in 2020.

If traders are looking for a user-friendly platform, eToro is the right choice for them. Beginners will also appreciate this feature since online broker platforms tend to look complicated. Additionally, eToro works perfectly from a mobile device, meaning that traders can close deals from the comfort of their house or maybe even traveling.

A very important aspect to keep in mind when choosing a Forex online broker is security. Choosing a broker with a reliable international reputation guarantees protection against scams and fraud, which are sadly quite common in the world of online trading.

eToro is regulated in two tier-1 jurisdictions and also one tier-2 jurisdiction, meaning that the site is considered low-risk, offering more security to your operations online. This is especially important when it comes to Forex and CFDs.

eToro benefits for Forex traders

As we have mentioned, eToro is definitely among the best Forex trading platforms out there, and there are a few reasons for this.

  • Copy-trading tools
  • User-friendly platform
  • Good design of the platform
  • There are many different investment possibilities

eToro has been recognized this 2020 as the best copy-trading platform. They offer a diversity of tools appreciated by beginner traders and also those with more experience, to copy or mirror the operations of other users. This type of social trading has proven extremely popular in recent times.

But, eToro stands out also thanks to its well-designed and user-friendly platform that makes the whole world of investment more reachable and accessible.

Finally, eToro has a wide variety of possibilities to invest, either in the forex market, but also in stocks, CFDs, cryptocurrencies, and many other assets.

While there are some drawbacks, like a limited number of currency pairs and restricted access to some US residents, eToro continues to position itself as the best Forex broker out there.

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