The FOREX (Foreign Exchange) market trades the actual exchange rates between two currencies (i.e. EUR/USD, the value of 1 Euro in US dollars). It is the biggest and most liquid financial market in the world and has a daily turnover of $3 trillion. Unlike other forms of trading which are done in physical locations such as Wall Street, Forex trading is conducted over the phone and online. This is due to the fact that financial transactions are carried out all over the world.
Now, to regular people like me and you, the complexities of the Forex market can be pretty mind-boggling; however thanks to advances in software, it not possible for anyone to get a piece of the action. There are now various software programs (known as forex robots) available that allow you to trade in the same way as a forex broker would. One such program that growing increasingly popular is eToro, but just why do people like it so much?
The popularity of eToro
If there is one thing that puts people off learning more about the forex market it is the constant use of jargon. When something is hard for people to get to grips with they are more inclined to give up – regardless of the lure of money. The outstanding feature that eToro has in its favor is the fact that it is completely jargon free. This use of newbie-friendly language has to be a big reason why the online platform has over 2.75 million users in over 140 countries worldwide.
Whatever your level of experience or invest preferences, eToro aims to advance your abilities, providing you with the tools needed to learn and grow within an active trading community.
Let’s look at some of the features that have made eToro a hit with experienced and green traders alike:
- Real trading practice. Anyone new to eToro can learn the ropes by using virtual money to trade, giving them a chance to grow as a trader without running the risk of losing any money.
- Multiple language support. As you can imagine, the forex market trading in currencies all around the world, means that various different nationalities and languages are heavily involved in trading. eToro makes it’s platform easily accessible in numerous languages and is comprehensive to all.
- Training programs and community services make it possible for anyone to become successful in the forex market, turning those with no knowledge or prior experience in to gurus.
- Professional support from knowledgeable staff provides users with all the help they need from the second they open an account.
eToro has made it simple for everyone to trade on the same level regardless of experience and that is why people like it so much. Of course, any application designed for such a purpose will be required to be user-friendly at the very least, but eToro impresses in the way that it interacts with people, the way that people interact with others and the way it approaches the world of forex trading. It also takes what is an often a stressful trading market and makes it one that is an enjoyable experience. You would be surprised by just how hard it is to achieve such simplicity.
The cost of eToro is also a big winner. All it takes is a deposit as little of $50 to get started, and the offer of a first deposit bonus of up to $10,000 is very appealing indeed.
There are numerous ways to make a living online, but eToro rates as one of the genuine, effective and best ways to do so. Little wonder why so many people like it!