Some of you might have heard of the forex market; others may not have. For those that don’t know, the forex, or FX market, is short for foreign exchange market and is the biggest liquid financial market in the world, involving the trading of world currencies (i.e. Euro, US Dollar, UK pound, etc.). There is a lot of money to be made by trading in the forex market; of course, for anyone unfamiliar with trading, making money can seem impossible what with all the intricacies and jargon involved. eToro is an online trading platform that has been specifically designed to be as easy to use for newbies as it is for experienced traders and provides everyone with the tools needed to make a genuine income online.
Having been a newbie (I still am one in many respects) and used eToro for a good few months, I am here to tell you about my experience.
Let me start by telling you have I have found it using the software. I, like many others, found the forex market to be a blur of numbers and constantly changing arrows. eToro has made it very easy for me to understand. Downloading the software, literally takes about 30 seconds and from there you can start buying and selling world currencies.
The user interface is perfectly designed for beginners, in fact, the entire eToro product, from support to community is built to make it a comfortable place for newbies. For anyone that is new to the FX market, I recommend starting with the practice platform, which allows you to trade in virtual money – I have learned a lot from doing this. I also had a great experience with the ‘education center’ which offers a wealth of live webinars, e-courses, and the very useful eToroPedia, which provides all the information related to trading and the answers to any questions you may have. After approximately eight months of using eToro, I find myself visiting eToroPedia on almost a daily basis.
I have also had a great experience with the real-time trading, allowing me to change currencies without delay. The only problem I have had when trading is when I had a temporarily slow internet connection – which is of course no fault of eToro; having said that, in my experience, you will need a fast internet connection to stretch your money.
Contacting eToro Help desk from South Africa
I have only had to contact the help desk via telephone on a couple of occasions, but each time I was left very satisfied. On both occasions I called with an issue related to slight issues with the software. On the first call, the female staff member on the telephone was very polite, helpful and surprisingly knowledgeable about the software. One the second call, I was provided with a call back from the help desk after the line went dead, and was once again provided with a solution – excellent customer service.
Money withdrawal from eToro from South Africa
Having moved from trading virtual money to the ‘big leagues’ and real money, I was keen to withdraw my first significant amount of money. Granted, US $200 is nothing compared to what the eToro ‘gurus’ around the world are making but for me it was a tidy profit, especially for a South African trader. I once again contacted the help desk and was given the process for withdrawing money for the first time. This involved emailing eToro copies of a utility bill, passport and money withdrawal request form. Having done this, I received an email with a reference number, and two days later a payment into my PayPal account. Once again, a thoroughly satisfying experience.
I am very happy with eToro Forex trading platform and I am happy to recommend it to anyone. Yes, there is a risk of losing money, but responsibility with this must lie with the individual and should never take away from what eToro offers.
Update from October 05, 2012 (eToro payment proof):
Here is a proof of payment from eToro. They really do pay. Couldn’t have been any more happier!!!
- My experience with eToro Forex Trading Platform
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