The Best Forex And Options Trading Apps of 2023

There are a number of ways you can make money in 2023.

Broadly, you can choose to be employed or be self-employed.

I usually have a problem with that part of being employed because you can lose that job in a blink of an eye.

I love it when I am self-employed and working towards my vision and not in furtherance of someone else’s vision.

But that’s just me.

How much do you love your freedom?

If you love freedom as I do, then you will go for self-employment and start wondering what you will employ yourself to do.

Of course, there are a number of things you can do to make money in 2022 as a self-employed individual.

These range from doing business which most people prefer, agriculture, investing in real estate, and many more.

But this being 2022, there is an untapped area of making money that is taking the world by storm.

This is making money online.

What ways can make you money online is a discussion that is heating up and many people across the world are embracing it.

In that regard, there are so many ways people are making money online in 2022.

This includes digital marketing, freelance writing, freelance web design, virtual assistance, blogging, vlogging, social media marketing, and of course online trading.

Among the many ways of making money online, I have found the last so fascinating and interesting. I am talking about online trading.

What is Online Trading?

Online trading is the buying and selling of digital financial assets which are listed on the asset market.

Here, you do not have to possess goods or services (assets) in order to buy or sell them.

You only invest in the change in their value over a period of time, after which you can reap huge returns.

If you choose a given asset, you carry out market analysis and study past data of its price.

After that, you can then decide which direction the price of such an asset will go.

If you hope that such a price will go up in the future, you only need to click on the Buy or up button and wait.

However, if you anticipate such a price to fall, all you need to do is hit the Sell or down button and wait.

If the price moves in your favor, you are meant to profit from the price movement but if it moves against you, then a loss is inevitable.

Assets traded online include Currency pairs (Forex), Cryptocurrency, Indices, Commodities, ETFs, Bonds, and Stocks, among others.

You can invest in the change in prices of such assets and stand a chance to profit big-time.

Are you now convinced that online trading can make you rich in 2022?

Not only so, but online trading can pull you from the abyss of financial struggle to the paradise of financial freedom which has been the dream of every man and woman.

For that matter then, I am about to bring to your attention the top 10 trading apps for making money in 2022.

Top 10 Trading Apps for Making Money in 2023.

To trade online, you need access to the market which is offered by institutions called brokers.

Brokers offer you the platform on which you can access, analyze and predict the market in order to make profits.

The platforms offered by brokers come in many different forms such as:

• Mobile Apps.
• Web Platforms.
• Desktop Apps.

For that matter, I would like to show you the top 10 trading Apps which are synonymous with the brokers offering them, for making money in 2023.

Each App we shall discuss here represents a single broker and the ideas propagated under each are those concerning that particular broker.

Are you ready for this? Here is the ultimate list of the top 10 trading Apps from which you can choose to make money in 2023:

• Olymp Trade.
• Expert Option.
• IQ Option.
• Binomo.
• XM Forex.
• FXTM.
• HotForex.
• Deriv.com
• Exness.
• eToro.

1. Olymp Trade.

Olymp Trade is a forex and options broker located in Saint Vincent and the Grenadines.

The broker was founded, established, and launched in the year 2014.

Coverage.

Olymp Trade boasts a total of over 20,000 traders daily.

This translates to Olymp Trade’s monthly payouts of over $13,681,000 and more than 37,990,700 closed trades monthly.

This leaves Olymp Trade as one of the biggest brokers in 2023.

Olymp Trade is not only in India.

It operates throughout the world except for countries like the USA, Canada, Japan, Israel, Australia, and few others.

Demo Account.

Olymp Trade offers clients a free Demo Account where they can practice trading without risking real capital.

This Demo account is loaded with $10,000 virtual money which you can replenish any time it is depleted. You can then use the demo account to practice trading under real market conditions.

Account Types.

In addition to a Demo account, Olymp Trade offers two types of real accounts – Standard and VIP accounts.

A standard account requires only $10 to open while a VIP account can be opened with $2,000.

The Standard account is a micro account and gives an opportunity for traders who want to start small while the VIP account offers benefits like risk-free trades, higher returns, and secret trading strategies.

Trading Assets.

Olymp Trade offers over 36 currency pairs, over 10 Cryptocurrencies against USD, over 2 Cryptocurrency pairs, over 10 Stock indices, over 6 Commodities, and over 13 Shares of the largest companies.

These can be traded to yield returns ranging between 82% and 100% with a minimum investment of $1 per trade.

Security and Reliability.

Olymp Trade is licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) together with Financial Commission (FinaCom).

These ensure traders’ money is safe and that traders’ rights are safeguarded.

Deposits and Withdrawals.

The following payment methods are supported by Olymp Trade:

• Bank cards
• JCB
• China UnionPay
• Advcash
• Neteller
• Skrill
• Perfect Money
• WebMoney
• Bitcoin
• Tether (erc-20)
• Ethereum

Deposits and Withdrawals are processed fast depending on your method of payment – bank cards and e-wallets are faster.

VIP accounts are given priority in withdrawals as they take 24 hours to 5 business days for a standard account.

The minimum deposit and withdrawal amount are $10 and no fees are charged.

Trading Apps.

Olymp Trade accessibility is via the Web-based platform for both PC and mobile smartphone, Desktop Apps for both Windows and macOS,

Mobile Apps for both Android and IOS. MetaTrader 4 Desktop App and Mobile App are also supported for forex traders.

All those platforms offer the convenience of a wide variety of chosing the platform you can easily access.

Trading Tools.

A user-friendly interface in all those platforms is an upper hand for Olymp Trade.

A variety of technical indicators on the charts which makes technical analysis easy for more accurate predictions is also availed. These include;

• SMA.
• EMA.
• WMA.
• Parabolic SAR.
• Bollinger bands.
• RSI.
• MACD.
• Alligator.
• ZigZag.
• CCI.
• ROC.
• Stochastic.
• DeMarker.
• Bulls Power.
• Bears Power.
• Williams %R.
• Ichimoku Cloud.
• Sentiment.
• Momentum.
• Rate Of Change.
• Gator.
• Awesome Oscillator.
• Detrended Price Oscillator.
• Average Directional Index.
• Horizontal Line.
• Vertical Line.
• Trend Line.

Client Support.

Olymp Trade has an awesome support team that is warm and knowledgeable. They operate 24/7 and can be reached via:

• Live Chat – this can be accessed on the trading platform. 
• Phone
  • +54 (11) 59175747 – Buenos Aires, Argentina.

• • +27 (21) 1003880 – Cape Town, South Africa.

• • +357 25030996 – Nicosia, Cyprus.

• Email – [email protected]
• Facebook

Trader Education.

On the Olymp Trade’s Help Centre, find a wide database of education materials ranging from articles to video tutorials.

Step-by-step trading training from basic concepts and psychology to technical analysis and building a trading strategy are offered in this section.

Traders can also attend informative and educative webinars offered by the broker.

2. Expert Option.

Expert Option is a binary options broker which has its offices in Saint Vincent and Grenadines. It was founded, established, and launched in 2014.

Coverage.

Expert Option has attracted and accumulated over 11 million traders worldwide so far.

This has seen Expert Option handle over $30 million worth of transactions each month.

Expert Option is not only in Asia. It is in most regions of the world like Latin America, Eastern Europe, the Middle East, and Africa.

However, the Expert Option is not available to residents of North America, Australia, New Zealand, and other regions.

Demo Account.

Expert Option offers a $10,000 free Demo account.

You can always refill these funds once your demo account is depleted.

The Demo account allows you to train trading forex under real market conditions without risking real money.

Account Types.

Expert Option offers 6 different real account types. These include Micro, Basic, Silver, Gold, Platinum, and Exclusive accounts.

Their minimum requirements are as follows;

• Micro: $10
• Basic: $50
• Silver: $500
• Gold: $2,500
• Platinum: $5,000
• Exclusive: Entered by invitations only.

Each account type has benefits attached which are as follows;

• Basic: You can invest a maximum of $25 per trade and have a maximum of 10 open trades at a time.
• Silver: Maximum of $250 per trade, maximum of 15 open trades at once, personal account manager, daily market reviews, and financial research.
• Gold: Silver advantages plus max. of $1,000 per trade, 30 open trades at once, priority withdrawals, and up to 2% extra on profitable trades.
• Platinum: Gold advantages plus a max of $2,000 per trade, unlimited number of open trades, and up to 4% extra on profitable trades.
• Exclusive: Platinum advantages plus max. of $5,000 per trade, access to strategies, and up to 6% extra on profitable trades.

Trading Assets.

You can trade Currencies, Cryptocurrencies, Commodities, Indices, and Stocks with Expert Option to earn returns between 70% and 90% with only a minimum of $1 per trade.

Security and Reliability.

Expert Option is licensed and regulated by Financial Markets Relations Regulation Center (FMRRC) in Russia. In addition, Expert Option is regulated by the Vanuatu Financial Service Commission (VFSC).

These regulators ensure that brokers’ activities are in sync with financial laws.

Deposits and Withdrawals.

Expert Option offers a range of payment methods for clients to choose from. It accepts the following payment methods;

• VISA, MasterCard.
• Skrill.
• VISA, MasterCard, Maestro.
• Crypto.
• Neteller.
• Perfect Money.
• Fasapay.
• WebMoney.
• QIWI.
• Yandex Money.

Deposits and Withdrawals are handled fast, with e-wallets and bank cards given priority for deposits and high-profile accounts for withdrawals.

The minimum deposit and withdrawal amount are $10 and no fees are charged for those services.

Trading Apps.

Expert Option accessibility is via the Web-based platform for both PC and mobile smartphone, Desktop Apps for both Windows and macOS, Mobile Apps for both Android and IOS.

It thus gives each trader an opportunity to choose whichever platform suits them best.

Trading Tools.

A user-friendly interface and a variety of technical indicators on the charts are also a plus for Expert Option. The chart analysis tools available on Expert Option include:

• Moving average.
• Bollinger bands.
• Alligator.
• Parabolic SAR.
• Fractal.
• RSI.
• Awesome oscillator.
• MACD.
• Horizontal line.
• Vertical line.
• Ray.

Client Support.

Expert Option has a warm knowledgeable support team that can be reached 24/7 via:

• Live Chat – use the live chat option found on the platform.
• Phone
  • +44 20 3868 3160 for English.
  • 000 800 443 0002 for Hindi.
• Email
  • [email protected] for English.
  • [email protected] for Hindi.
• Contact Form – you can as well fill the contact form and the support team will get back to you.

Trader Education.

On their education database, you will find educational materials such as video tutorials and in-depth articles.

These address aspects such as technical analysis, fundamental analysis, trading strategies, and trading psychology among others.

The broker goes a long way to even availing webinars accessible to all traders, which address a wide range of knowledge areas useful to both beginners and professionals at trading.

Social Trading.

Expert Option also has a social trading feature where you can copy other traders to profit from their strategies.

That means you don’t actually have to know how to trade to make money with the Expert Option trading App.

3. IQ Option.

IQ Option is a Cyprus-based binary options broker which was launched in 2013. It has since grown fast and has a record of over 25 million users worldwide so far.

That translates to a trading volume which exceeds $360 million monthly.

The headquarters are at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus.

Coverage.

Most IQ Option traders come from Latin America, Eastern Europe, South East Asia, and North Africa and not only in India.

However, IQ Option is not available in some countries like the USA, Canada, Japan, Israel, and others which are very few.

Demo Account.

IQ Option offers a $10,000 free Demo account.

You can always refill these funds once your demo account is depleted.

The Demo account allows you to train trading forex under real market conditions without risking real money.

Account Types.

IQ Options offers 2 types of real accounts – Standard and VIP accounts.

You require only $10 to open a Standard account and either $1,900 or a trading volume of $15,000 within a period of 3 months to open a VIP account.

The Standard account is suitable for micro beginners while the VIP account offers benefits like higher returns, priority withdrawals, and free tournament participation.

Trading Assets.

Over 74 Forex pairs, over 26 Cryptocurrencies, over 25 ETF’s, over 5 Commodities, over 53 Options, and over 187 CFDs can be traded on IQ Option.

These can guarantee returns between 65% and 95% with only a minimum of $1 per trade.

Security and Reliability.

IQ Option is licensed and regulated by Cyprus Securities and Exchange Commission (CySEC).

This is the most popular regulator of financial services and your money is therefore safe.

Deposits and Withdrawals.

IQ Option supports multiple payment methods giving clients a wide range to choose from.

The payment methods include;

• VISA/Mastercard.
• Sofort/Klarna.
• Skrill.
• Bank Transfer.
• Giropay.
• WebMoney WME.
• WebMoney WMZ.
• Jeton.
• QIWI.

Deposits and Withdrawals are processed fast depending on your method of payment – bank cards and e-wallets are faster.

VIP accounts are given priority in withdrawals as they take 24 hours to 5 business days for a standard account.

The minimum deposit and withdrawal amount are $10 and no fees are charged.

Trading Apps.

IQ Option is accessible via Web browser, Desktop Apps (macOS and Windows), and Mobile apps (Android and iOS).

It thus gives each trader an opportunity to choose whichever platform suits them best.

Trading Tools.

IQ Option offers users a user-friendly interface with a wide range of technical indicators for more accurate predictions. These include;

• SMA.
• Parabolic SAR.
• Bollinger bands.
• RSI.
• MACD.
• Alligator.
• ZigZag.
• CCI.
• ROC.
• Stochastic.
• Bulls power.
• Bears power.
• Momentum.
• Rate of Change.
• Gator.
• Ichimoku Cloud.
• Aroon.
• Awesome Oscillator.
• Detrended Price Oscillator.
• Average Directional Index.

Client Support.

IQ Option has an awesome very knowledgeable support team that is always there for clients, operating 24/7. They can be reached via the following means:

• Live Chat (link can be found on the website)

• Phone:
  • English: +44 20 8068 0760 (London toll rate) +44 80 0069 8644
  • Portuguese: +351 882 880 034(Toll-free), +351 308 807 766(National)
  • Spanish: +34 90 086 16 12(Toll-free), +34 91 123 87 48(Madrid toll rate)
• Email:
  • [email protected]
• Social: Twitter, Telegram, Facebook, Youtube…

Trader Education.

IQ Option offers a large variety of educational videos covering a variety of topics in their Ultimate Trading Hub.

There is a large variety of beginner and advanced trading topics covered in the video tutorial section.

The Market News and Crypto Digest sections contain the most videos and are up to date with recent market action.

4. Binomo.

Binomo is a binary options trading broker located in Saint Vincent and Grenadines.

It was founded, established, and launched in the year 2013, growing into one of the most popular brokers around.

The headquarters are at Dolphin Corp / First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent, and the Grenadines.

Coverage.

Binomo claims to have over 887,470 daily active traders. This translates to over 30 million successful trades per week.

Binomo is not only in India. Binomo’s is an investment platform that operates in almost all the countries of the world except a few countries.

These exempted countries include the USA, Israel, Canada, Japan, Australia, Turkey, Belgium, New Zealand, France, and Latvia.

Demo Account.

Binomo offers a $1000 virtual cash Demo account.

This account type allows beginners to start forex trading by practicing on real market conditions without risking real money.

Account Types.

Binomo offers 3 types of accounts – Standard, Gold, and VIP accounts.

You only require $10 to open a Standard account, $500 for a Gold account, and $1,000 to open a VIP account.

The Standard account is suitable for micro traders while Gold and VIP accounts confer a variety of benefits – access to more assets, personal account manager and a weekly cashback of 5%-10%, a fixed profit of 86%, higher bonuses, priority withdrawal, and free education from professional traders.

Trading Assets.

Commodities, Stocks, Currency pairs, Cryptocurrencies, and Indices can be traded on Binomo to yield returns between 70% and 90% with only a minimum of $1 per trade.

Security and Reliability.

Binomo is licensed and regulated by the Financial Commission (FinaCom).

This is an independent organization that guarantees trader rights protection. Binomo is also certified by the Center for Regulation of Financial Market Relations (CROFR) – this means that you are not prone to scamming and financial market malpractices.

Deposits and Withdrawals.

Binomo supports various payment methods from which clients can choose. These include;

• VISA/Mastercard.
• Maestro.
• Yandex.
• JCB.
• Netteler.
• Qiwi.
• WebMoney WMZ.
• MPESA.
• AdvCash.
• Perfect Money.
• Bitcoin.

Deposits and withdrawals can take minutes to 3 business days depending on your method of payment and account type. The minimum deposit and withdrawal amount are $5.

Binomo will deduct a 10% fee on your withdrawal amount if you withdraw without trading a volume equivalent to at least double your deposit.

This means that if your initial deposit was $10, you will only be able to withdraw free of charge if the total balance on your account is $20.

If you attempt to withdraw when your balance is less, you will pay 10% of the amount you are withdrawing.

Trading Apps.

The Web browser and Mobile Apps are the platforms from which Binomo can be accessed. Mobile App lovers and those that like trading on the Web are well suited here.

Trading Tools.

An interactive interface with a variety of technical indicators is availed on either of the platforms used. These indicators include;

• The Moving Average Indicator.
• Bollinger bands.
• Alligator.
• MACD.
• RSI.
• ADX.
• Fractional Chaos Bands.
• Momentum.
• Parabolic SAR.
• Awesome Indicator.
• Ichimoku Cloud.
• Stochastic.
• CCI.
• ATR.

Client Support.

You can reach the Binomo support team 24/7 and you will find them very resourceful. Here are the means you can reach them:

• Live chat – functionality on the trading platform.
• Email – [email protected]
• Social Media – Facebook and Instagram.

Trader Education.

Binomo also offers extensive trader education materials. By studying the extensive knowledge base, you will be able to improve your trading skills for better results.

5. XM Forex.

XM Forex is a broker which was established in 2009 and has headquarters located at 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus.

The broker boasts of over 3.5 Million traders on its database which means that it is a very popular broker across the world.

Coverage.

XM can be accessed by traders anywhere they are in the world.

The broker is available in countries like Australia, Germany, Hong Kong, India, Ireland, Malaysia, Netherlands, Singapore, South Africa, United Arab Emirates, and the United Kingdom, among many others.

Just confirm if the broker is available in your country, which is highly likely so.

Demo Account.

XM offers a free demo account for new traders to practice trading risk-free under real market conditions.

In the event that you decide to go live, the minimum deposit at XM is extremely low.

I know you won’t believe it but the minimum deposit at XM is only$5.

Account Types.

XM provides clients with three main account types, each with its own unique features and benefits.

The three account types are the Micro account, the Standard account, and the XM Zero account.

XM Micro account has zero commission, spread from 1 pip, minimum deposit of $5, leverage of up to 30:1 and offers Islamic Swap-free trading.

The Standard account has the same features as the micro account.

Lastly, the XM Zero account charges commission of $3.50 per $100,000 of trade volume, the spread is from 0 pips, the minimum deposit is $100, and the rest of the features as the other two.

While accounts can be funded in multiple currencies, they will be converted into USD.

Trading Assets.

A wide range of CFD instruments is available to trade on with XM.

These include 55+ Forex pairs, 26 Indices, 8 Commodities, 1,236+ Stocks, 4 Metals, and 5 Energies.

Trading costs such as spreads, commissions, and overnight swap rates vary depending on the account type and instrument being traded.

Security and Reliability.

XM is authorized and regulated by regulators around the world.

This includes authorization and regulation by the Cyprus Securities and Exchange Commission under the company name of Trading Point of Financial Instruments Ltd.

This regulation allows the broker to also be registered in cross-border states within the European Union under the outward passporting rules.

XM is also regulated by the Australian Securities and Investments Commission and by the International Financial Services Commission of Belize.

The broker offers further protection to clients by:

• Offering a negative balance protection policy.
• Holding client funds securely in segregated accounts with tier one banking institutions.
• Being members of the Investor Compensation Fund.
• Banking with investment-grade bank Barclays.

Deposits and Withdrawals.

XM offers a wide variety of deposit and withdrawal options. Zero fees on deposits and withdrawals are available via the following payment methods:

• Neteller.
• Moneybookers.
• Visa.
• Electron.
• MasterCard.
• Maestro.
• China UnionPay.
• Bank Wire Transfer of over $200 or equivalent.

Traders enjoy instant deposits and withdrawals via credit cards and electronic wallets. Actually, all deposits are instant, except for the bank wire transfers.

All withdrawals are processed in 24 hours on business days.

Deposits and withdrawals can be made directly from the XM member’s area section and the minimum deposit amount is $5 and $100 depending on your account type.

Trading Apps.

XM offers various trading platforms and Apps to choose from.

These include the following platforms and Apps from which you can access your XM trading account and trade seamlessly:

• Desktop MetaTrader 4 App – for both Windows and macOS.
• Desktop MetaTrader 5 App – for both Windows and macOS.
• Mobile MetaTrader 4 App – for both Android and iOS.
• Mobile MetaTrader 5 App – for both Android and iOS.
• XM Mobile Trading App – from this app, users can access their member’s area to manage their MT4 and MT5 trading accounts, as well as other services including placing trades.

With the above XM trading apps, traders have access to a wide range of trading tools to use while trading.

The tools include the following, which vary depending on the App a trader is using:

• XM MetaTrader 4 Desktop App

• • 1,000+ instruments across Forex, CFDs and Futures
  • Full EA (Expert Advisor) functionality
  • Social Signals trading
  • 1 click trading with inbuilt news functionality
  • 3 chart types
  • 50 technical trading indicators

• XM MetaTrader 5 Desktop App

• • 300 more additional Stock CFDs
  • Additional order types
  • 80 technical trading indicators
  • Economic calendar
  • Market depth

• XM MetaTrader 4 Mobile App

• • Full MT4 account functionality
  • 3 chart types
  • 30 technical indicators
  • Real-time charts with zoom and scroll

• XM MetaTrader 5 Mobile App

• • Full MT5 account functionality
  • Multi-asset class
  • Supports all trading order types
  • Built-in market analysis tools

Client Support.

XM offers customer support 24 hours a day, 5 days a week, Monday to Friday through:

• Live Chat.

• Email – [email protected]
• Social Media

• • Facebook
  • Twitter
  • Linkedin
  • Youtube
  • Instagram

Phone support is offered in multiple languages including English, Greek, Simplified Chinese, Traditional Chinese, Bahasa Malay, Bahasa Indonesia, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Portuguese, Czech, Slovakian, Bulgarian, Romanian, Bengali, Urdu, Thai, Nepali, Tagalog, Vietnamese, Cebuano and Serbian.

Trader Education.

XM offers a wide variety of educational resources which include live education, webinars, videos, and platform tutorials.

The webinars take place 7 days a week in 18 different languages from 49 different webinar instructors.

The live education rooms consist of the Basic Room and Advanced Room and cover trading fundamentals, trading session analysis, and a Q&A section. Users can access these rooms for free and they are offered in English.

6. FXTM.

FXTM Forex is a broker which was established in 2011 and has headquarters located at FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus.

The broker has found so much global recognition which means that it is a very popular broker across the world.

Coverage.

FXTM can be accessed by traders anywhere they are in the world.

The broker is available in all other countries save for the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, and Hong Kong. Those are just a few exceptions quantified as a drop in the ocean.

Demo Account.

FXTM offers a free demo account for new traders to practice trading risk-free under real market conditions.

A demo account offers traders a free, practical way to discover the features of the FXTM trading platform and test their strategies before they commit any of their own money.

Account Types.

FXTM provides clients with two main account types, the Standard and the ECN account types.

Both main account types are split into three subtypes each.

The account types under the Standard account are the Standard account, the Cent account, and the Stock CFD account.

On the other hand, the account types under the ECN account are the ECN account, the ECN Zero account, and the FXTM Pro account. Here is the summary:

• Standard account
  • Standard
  • Cent
  • Stock CFD
• ECN account
  • ECN
  • Zero ECN
  • FXTM Pro

The Standard account has zero commission, spreads from 1.3, is swap-free and the minimum deposit is $100.

The Cent account also has zero commission, spreads from 1.5, is swap-free and the minimum deposit is $10.

Lastly, for standard account types, the Stock CFD account is a stock trading account with zero commission, spreads from 0.1, is swap-free and the minimum deposit is $100.

The ECN account charges $2 per lot commission, spreads from 0.1, is swap-free and the minimum deposit is $500.

The ECN Zero account has zero commission, spreads from 1.5, is swap-free and the minimum deposit is $200.

Lastly, for the ECN account types, the FXTM Pro account has zero commission, spreads from 0, is swap-free and the minimum deposit is $25,000.

Trading Assets.

FXTM offers clients the ability to trade on more than 250+ financial CFD instruments covering a wide range of asset classes such as Currencies, Commodities, Indices, Metals, and Stocks for European and US regions.

The instruments offered depend on the account type the trader uses. Below is the specification:

• Standard account – 59 FX pairs, 5 Metals, and 14 CFDs.
• Cent account – 25 FX pairs and 2 Metals.
• Stock CFD account – 120+ US stocks and 40+ EU stocks.
• ECN account – 48 FX pairs, 3 Metals, and 14 CFDs.
• Zero ECN account – 48 FX pairs, 3 Metals, and 14 CFDs.
• FXTM Pro account – 43 FX pairs and 2 Metals.

Security and Reliability.

The FXTM is regulated and authorized to operate as a Forex trading broker. The broker holds licenses in various jurisdictions such as:

• ForexTime UK Limited is authorized and regulated by the UK Financial Conduct Authority (FCA).
• ForexTime Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority of South Africa (FSCA).
• Exinity Limited is authorized and regulated by the Financial Services Commission of the Republic of Mauritius.

Entities regulated by the FCA, CySEC, and some others offer high regulatory oversight and as such, FXTM segregates client funds from their own and offers a negative balance protection policy for retail clients in certain jurisdictions.

Deposits and Withdrawals.

FXTM provides clients with the ability to deposit funds free of charge through payment methods such as:

• Bank wire transfer.
• Debit/credit card.
• Neteller.
• Skrill.

For deposits, bank wire transfers can take 3-5 business days to process.

However, deposits via the other methods are processed in just 2 hours.

Traders can also withdraw funds via the same methods but some methods incur withdrawal fees while other methods do not. See the specifications below:

• Neteller – free withdrawal.
• Skrill – free withdrawal.
• Debit/credit card – withdrawal fees of either 2 EUR, 3 USD or 2 GBP.

Deposits and withdrawals can be done directly from the My FXTM client portal area. The minimum deposit is $10, $100, $200, $500, and $25,000 depending on your account type as discussed earlier.

Trading Apps.

FXTM offers various trading platforms and Apps to choose from. These include the following platforms and Apps from which you can access your FXTM trading account and trade seamlessly:

• Desktop MetaTrader App – for both Windows and macOS.
• FXTM MetaTrader Web Trader – for both PC and Mobile smartphones.
• Mobile MetaTrader 4 App – for both Android and iOS.
• FXTM Trader Mobile App – for both Android and iOS.

With the above FXTM trading apps, traders have access to a wide range of trading tools to use while trading. The tools include the following, which vary depending on the App a trader is using:

• FXTM MetaTrader 4 Desktop App
  • Available in 20+ languages
  • Trade on multiple asset classes
  • In-built technical trading indicators
  • Access MQL4 for algorithmic trading
  • Access trading signals from MetaTrader Market
• FXTM MetaTrader Web Trader
  • No download required
  • 9 chart time frames
  • Real-time quotes
  • Advanced analysis tools
  • Compatibility with six different browsers
• FXTM Mobile Trading App
  • Access all your trading accounts from one place
  • Trade over 250+ financial CFD instruments on the move
  • Cross-device trading between desktop and phone
  • View real-time prices and live price updates
  • Access a variety of different order functions
  • Access charts and tools for analysis

Client Support.

FXTM offers customer support 6 am – 6 pm Monday to Friday via the following avenues:

• Live Chat – link can be found on the website.
• Phone
  • +44 20 3514 1251 (for Forextime UK Limited)
  • +357 25 55 8 777 (for Forextime Limited)

Trader Education.

FXTM offers a large range of educational resources which includes:

• eBooks,
• Seminars.
• Webinars.
• Education videos and articles.

The educational materials cover topics for both beginner and advanced traders. Clients can also access a wide range of webinars across different time zones, covering different topics.

7. HotForex.

HotForex is a Forex broker with headquarters at 50 Spirou Kyprianou, at the Irida 3 Tower on the 10^th Floor, 6057 Larnaca, Cyprus. Apart from that, a new office is found in Johannesburg, South Africa.

HotForex was founded, established, and launched in the year 2010 – about 10 years of market experience.

Coverage.

The broker is available in 180+ countries in the world covering regions like Africa, Asia, Europe, and Latin America Widely. However, HotForex is not available in the USA, Syrian Arab Republic, North Kora, Canada, and Sudan.

Account types.

HotForex offers 6 core trading account types – Micro, Premium, Zero Spread, Auto, PAMM (Premium), and HFcopy accounts.

Every account type except Zero Spread offers commission-free trading for Forex pairs with spreads from 1 pip.

Zero Spread account is commission-based but with spreads from 0 pips in forex. The HFcopy is an account for copy trading with 3 core account types – Premium, Zero Spread, and Premium pro.

At HotForex, pricing varies greatly by account type.

You may find that in the Zero Spread account trading costs are lower than the premium account.

However, the margin requirements of the Zero Spread account may be twice as high as the Premium account. At best, HotForex’s pricing is slightly better than the industry standard.

Different accounts are available under different regulation entities. Some accounts are only available under specific regulations and not under others.

Demo Account.

The 6 account types are not all that HotForex offers. Users can also access Demo trading accounts and Islamic swap-free accounts.

Demo accounts can be utilized by newbies to practice forex trading under real market conditions without risking real money.

Trading Assets.

HotForex gives users access to over 150 trading instruments.

These are spread across over 49 Forex pairs, Over 104 CFDs, over 8 Commodities, over 11 Indices, over 56 Shares, over 3 Bonds, and over 4 Cryptocurrency CFDs.

Note that HotForex offers Spot Trading, Social/ Copy-trading and that Cryptocurrency is not traded as actual but as CFD.

Security and Reliability.

To begin with, HotForex is not publicly traded and does not operate a bank.

However, it is regulated in one tier-1 jurisdiction, three tier-2 jurisdictions, and two tier-3 jurisdictions.

This makes HotForex a safe and reliable broker for Forex and CFD’s trading.

The HotForex broker holds licenses from various regulators including;

• Financial Conduct Authority (FCA) in the UK.
• Cyprus Securities and Exchange Commission (CySEC) in Europe.
• Financial Sector Conduct Authority (FSCA) in South Africa.
• Dubai Financial Services Authority (DFSA) in Dubai.
• Seychelles Financial Services Authority (SFSA) in Seychelles.

HotForex broker also offers some users the ability to open trading accounts with HF Markets (SV), depending on their location.

HF Markets is a registered International Business in Saint Vincent and Grenadines and as such is not regulated.

That means that despite HotForex having multiple regulators, there is part of it, HF Markets, which is not regulated.

The reason why HF Markets is termed a part of HotForex is this. HotForex and HF Markets are unified brand names of the HF Markets Group.

That means that HotForex and HF Markets are one thing.

Deposits and Withdrawals.

HotForex offers a wide variety of Deposit and Withdrawal Methods which include;

• VISA/Mastercard.
• Neteller.
• Trustly.
• Skrill.
• Bitcoin.
• Crypto payment.
• FasaPay.
• iDeal.
• Maestro.
• Moneybookers.
• UnionPay.
• WebMoney.

Processing times and fees vary but can always be accessed on the HotForex Website.

Deposits can take between 10 minutes and 2 business days depending on the method of payment used and are mostly free.

Withdrawals are processed 24 hours after submission of withdrawal requests on business days and are mostly free.

Trading Apps.

HotForex is a MetaTrader broker which offers the entire MetaTrader Suite, including both MetaTrader 4 and MetaTrader 5 on Web, Desktop, and Mobile smartphones.

The Desktop version supports automated trading systems called Experts through MQL5 signals. Mobile trading comes for both Android and iOS.

Trading Tools.

Despite the fact that MetaTrader 4 and MetaTrader 5 come with their tools, HotForex provides its users with an optimal suite of trader tools.

These are called Premium Trader Tools and are developed by FX Blue Labs.

Premium Trader tools is a 12-tool package including but not limited to;

• Trade Terminal for advanced order execution.
• Connect for News.
• Alarm Manager for Alerts.
• Additional technical indicators like Renko bars and pivot points
• Order History.

Desktop MetaTrader 4 and 5 – This is available for both Windows and Mac. It comes with several benefits including enabling you to;

• View 21 different timeframes.
• View up to 100 charts simultaneously.
• Access 80+ technical indicators.
• Perform one-click trading functions.

Web MetaTrader 4 and 5 – This is a globally recognized platform with benefits that include enabling you to;

• Trade from any browser and operating system.
• View 9 different timeframes.
• Access 38 technical indicators.
• Perform one-click trading actions.

Mobile MetaTrader 4 and 5 – This mobile platform comes with several benefits. They include enabling you to;

• Have Real-time, interactive charts.
• View 9 different timeframes.
• Access 30 technical indicators.
• Perform one-click trading actions.
• Have access to multiple order types such as market, stop and limit orders.

In addition to the above trading platforms, HotForex also offers the HF App.

This is its proprietary mobile platform with various research and trading tools and calculators.

However, this App does not permit direct trading! It has several benefits including enabling users to;

• Have advanced chart functionality.
• Deposit, Withdraw, and Transfer funds.
• Create your own watchlists.
• View live news and quotes.

Client Support.

The HotForex Support Team is available 24/5 during market opening hours and offers a variety of languages on phone.

Apart from Telephone, you can also contact them via a Live Chat, Email, and an Online Contact Form.

Trader Education.

Beginner traders can consult the E-course and Glossary section for a basic understanding of the Forex Market and the Basics of Trading.

The video tutorials cover various topics.

These include Practical application and use of MetaTrader trading platforms guiding on the use of different indicators, techniques, and strategies.

Daily live webinars on various topics like indicators and trading psychology can also be utilized for education.

Additional Features.

The minimum deposit to open an account with HotForex is $5. This makes it manageable for beginners who wish to start small.

The minimum trade size is 0.01 units while the maximum leverage is 1:1,000. Good leverage over there.

8. Deriv.com

Deriv.com is a Forex and FTT broker based in Malta, with physical offices in Malaysia, Paraguay, and UAE.

The broker has been in operation since the year 2000 hence much market experience.

The broker boasts of over 1 Million traders worldwide, which means that it is a very popular broker across the world.

Coverage.

Deriv.com can be accessed by traders anywhere they are in the world. The broker is available in countries such as the following:

• Austria
• Bulgaria
• Croatia
• Cyprus
• Czech Republic
• Denmark
• Estonia
• Finland
• France
• Germany
• Greece
• Hungary
• Italy
• Ireland
• Latvia
• Lithuania
• Luxembourg
• Netherlands
• Poland
• Portugal
• Romania
• Slovakia
• Slovenia
• Spain
• Sweden
• United Kingdom

Just confirm if the broker is available in your country, which is highly likely so.

Demo Account.

Deriv.com offers free demo accounts for new traders to practice trading risk-free under real market conditions.

The demo accounts offer traders a free, practical way to discover the features of the Deriv.com trading platform and test their strategies before they commit any of their own money.

With the demo account, you get 10,000 virtual USD to spend as you please on the Deriv.com platform. You can easily practice, explore and test out your new ideas and strategies in a completely safe environment. Whatever you want to do risk-free can be done with this demo account.

Account Types.

Deriv.com offers 3 main account types namely:

• DMT5 Account – three subtypes of this account are financial, financial STP, and Synthetic. The three are offered on the MetaTrader 5 trading platform using Deriv.com log-in credentials given.
• DTrader Account – accessible on the Deriv.com own trading platform.
• DBot Account.

DMT5 Accounts.

The Financial account allows traders access to Forex, commodities, cryptocurrencies as well as both major and minor currencies which can be traded on high leverage.

The Financial STP account offers the trade in major, minor, and exotic Forex pairs as well as for cryptocurrencies with tight spreads.

This account is used for trading higher volumes with orders which go directly to the market.

Lastly, for the DMT5 accounts, the Synthetic account gives traders access to various CFDs and proprietary indices which can be traded 24/7 and stimulate real-world market movements.

DTrader Account.

The DTrader account offers traders access to a range of markets including forex, indices, commodities, and synthetic indices which can be traded through a proprietary trading platform.

When using this account, traders have access to a variety of customizable trade types which feature stakes from as low as $0.35 in addition to durations that can be within seconds.

After traders have registered for this account, it is as simple as monitoring the charts and deciding when and where to place a trade.

Charting capabilities are advanced and allow for customization with various technical indicators and widgets.

DBot Account.

The DBot account is centered on automated trading and provides traders with three built-in strategies and the chance to build their own bot free of charge.

When using this account, traders have access to the following:

• More than 50 assets to trade
• Popular strategies such as Martingale, D’Alembert, Oscar’s Grind, and more.
• Analysis tools, indicators, and risk management tools.
• Configuration of pre-built blocks and indicators without having to code.
• Tutorials, guides, and references.
• Performance trackers and notifications via Telegram.
• The ability to save strategies to Google Drive.

Trading Assets.

A wide range of tradable instruments is offered by Deriv.com.

The instruments offered on Deriv.com tradable across the different account types are Forex pairs, Binary options, Stocks, Cryptocurrencies, Commodities, CFDs, and Indices.

Security and Reliability.

Deriv.com is a safely regulated broker which is licensed by various authorities to engage in brokerage services. The following are its key regulators:

• In the EU, Deriv.com is regulated by the Malta Financial Services Authority (FSA).
• Outside the EU, the broker is licensed with the Vanuatu Financial Services Commission (FSC) and the British Virgin Islands Financial Services Commission (FSA).
• In addition, Deriv.com is regulated by Malaysia’s Labuan Financial Services Authority (FSA).

In line with licensing conditions, customers benefit from negative balance protection, so users can’t lose more than their deposit.

Also, financial services compensation schemes are in place to make customers whole should the broker go under.

Note, the amount covered under financial services compensation schemes varies between regulators and jurisdictions.

Deriv uses SSL website encryption to secure sensitive client data.

Their security protocols are in line with the industry, so users can trust the broker to handle their personal information with care.

Deposits and Withdrawals.

Various payment methods are supported by Deriv.com for deposits and withdrawals. These include the following:

• Sticpay.
• Airtm.
• MasterCard.
• Visa.
• Maestro.
• Skrill.
• Neteller.
• WebMoney.
• Cryptocurrencies.

Deriv.com’s minimum deposit amount is only $5 and the account is maintained in different base currencies such as USD, AUD, EUR, and GBP. All deposits will be visible in your trading account instantly except those that are made by bank transfers, which take one day to arrive.

No fees are charged on deposits.

The minimum withdrawal amount is also only $5 and absolutely no fees are charged on withdrawals.

Deriv.com usually takes up to one business day to process the withdrawal request after requesting to withdraw.

Trading Apps.

Deriv.com has various trading platforms and Apps available for use by traders. They include the following:

• Deriv MetaTrader 5 Desktop App (DMT5) – for both Windows and MacOS.
• Deriv MetaTrader 5 Mobile App (DMT5) – for both Android and iOS.
• MetaTrader Web Platform – for both PC and Mobile Smartphone on any browser.
• Deriv Trader (DTrader) – for both PC and Mobile smartphones on any browser.
• Deriv Robot (DBot) – for both PC and Mobile smartphones on any browser.

Trading Tools.

Various trading tools are available in each account type for traders to exploit while trading on the platform. Here are some features and tools available according to account type:

• DMT5
  • Analysis and research tools
  • Multiple trade windows
  • Over 70 assets
  • Flexible leverage up to 1:1000
  • A range of trade sizes, from micro-lots up to 30 standard lots.
• DTrader
  • Customizable
  • Over 50 assets
  • Technical indicators and widgets
  • Trade types can also be customized, with position sizes of just $0.35 and flexible trade duration between one second and 365 days available
  • Potential payouts also exceed 200%
• DBot
  • Offers a straightforward way of getting set-ups using algorithms
  • Trading bots are free to develop
  • Bots can be built in five simple steps
  • Over 50 assets
  • Three pre-built strategies
  • Performance tracker

Client Support.

Deriv.com has a vibrant support team that is knowledgeable and glad to help with queries and concerns. The support team can be reached via the following means:

• Live Chat – live chat functionality on the trading platform.

Deriv.com is a leader in terms of offering trader education. The broker offers a glossary of trading terms and a free e-Book.

As if that was not enough, Deriv.com Learning Center offers regular discussions of the latest market events by numerous trading experts, each specialized in a particular field.

Traders can also choose to attend Deriv.com webinars, which are held every week with many interesting guest lecturers.

Furthermore, the broker offers very helpful videos, which cover a wide range of topics. Webinar videos are also available for those who miss a session.

9. Exness.

 

Exness is a broker which was founded in 2008.

The broker is operated by Exness Group and has grown to become a very reputable broker.

Exness has its Headquarters located at Siafi Street, PORTOBELLO, Office 401, 3042, Limassol, in Cyprus.

Coverage.

Nationals and residents of the USA, American Samoa, Baker Island, Guam, Howland Island, Kingman Reef, Marshall Islands, Northern Mariana Islands, Puerto Rico, Midway Islands, Wake Island, Palmyra Atoll, Jarvis Island, Johnston Atoll, Navassa Island, Vatican City, and U.S. Virgin Islands are not accepted as clients by Exness.

Check if Exness accepts clients from your country before you commit.

Demo Account.

Exness Demo Account offers a free demo trading account for beginner traders to train on.

The Demo account interface is ideal for traders who want to learn to trade without incurring any trading risks or losses. Exness Demo Account practice forex trading in a 100% risk-free environment.

Account Types.

Exness offers two main account types with subtypes.

The main account types are the Standard and the Professional accounts. The subtypes under the standard account are the Standard account and the Cent account.

On the other hand, the subtypes under the professional account are the Professional account, the Zero account, and the Raw-spread account. See the summary below:

• Standard Accounts:
  • Standard Account.
  • Cent Standard Account.
• Professional Accounts:
  • Pro Professional Account.
  • Zero Professional Account.
  • Raw Spread Professional Account.

The Standard account has a minimum deposit of $1, leverage of up to 1:2000, no commissions, spreads from 0.3, margin call at 60%, the minimum volume is 0.01 lots, and maximum volume of 200 lots.

Just like the standard, the Cent account has a minimum deposit of $1, unlimited leverage, no commission, spreads from 0.3 pips, margin call at 60%, a minimum volume of 0.01 lots, and maximum volume of 200 lots.

The Pro account has a minimum deposit of $200, leverage of up to 1:2000, no commissions, spreads from 0.1, margin call at 30%, the minimum volume is 0.01 lots, and maximum volume of 200 lots.

The Zero account has a minimum deposit of $200, leverage of up to 1:2000, $3.5 per lot commissions, spreads from 0, margin call at 30%, the minimum volume is 0.01 lots, and maximum volume of 200 lots.

Lastly, for the professional accounts, the Raw-spread account has a minimum deposit of $200, leverage of up to 1:2000, $3.5 per lot commissions, spreads from 0 pips, margin call at 30%, the minimum volume is 0.01 lots, and maximum volume of 200 lots.

Trading Assets.

A wide base of trading instruments is available for trading on Exness.

Generally, markets offered for trading at Exness include Forex pairs, stocks, Energies, Indices, Cryptocurrencies, gold, and silver, among others.

Different assets are offered in each account type and the execution of their order between market and instant execution varies with the account type.

Security and Reliability.

Exness is licensed and regulated to offer financial and brokerage services.

This is not only by one regulator but by several reputable regulators which include the following:

• Financial Services Authority (FSA).

• Financial Sector Conduct Authority (FSCA).

• Cyprus Securities and Exchange Commission (CySEC).

• Financial Conduct Authority (FCA).

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and they can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as Exness are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

Deposits and Withdrawals.

Exness supports various payment methods through which deposits and withdrawals can be processed. Below are some of the major ones:

• Tether (USDT).
• Bitcoin.
• Internet Banking.
• Bank Cards.
• AstroPay Card.
• Perfect Money.
• WebMoney.
• Neteller.
• Skrill.
• Internal Transfer.

The broker only charges withdrawal fees when traders use Skrill and their withdrawal is less than $200. In the case of Skrill and a withdrawal amount less than $200, traders will pay a fixed fee of $1. 

Deposits are usually instant while they may not be so with withdrawals depending on the payment method in use. See the specifications below:

• USDT and Internet Banking take up to 72 hours.
• Bitcoin withdrawals take up to 4 hours.
• Bank Cards may take between 3 to 5 working days.
• AstroPay, Perfect Money, Web Money, Neteller, Skrill, and Internal Transfer are instant.

Trading Apps.

Exness provides traders with more than enough trading platforms to choose from. Below is the list:

• Desktop MetaTrader 4 App – for both Windows and MacOS.
• Desktop MetaTrader 5 App – for both Windows and MacOS.
• Mobile MetaTrader 4 App – for both Android and iOS.
• MetaTrader 5 Mobile App – for both Android and iOS.
• WebTerminal – for both PC and Mobile Smartphone
• MultiTerminal – only available for Windows.
• Exness Trader Mobile App – for both Android and iOS.
• Exness Terminal Online trading platform – for both PC and Mobile smartphones.
• Social Trading mobile App – for both Android and iOS.

Trading Tools.

The tools availed to the trader from each App and platform are indeed versatile and resources. The features of and tools available from each of the platforms include the following:

• MetaTrader 4 (MT4)

• • Built-in analytical tools with 23 analytical objects and 30 built-in technical indicators.
  • MetaQuotes Language 4 (MQL4) lets anyone create their own trading robots and scripts, while importing Expert Advisors only takes a few minutes.
  • Security with all communications between the server and the trading platform encrypted using 128-bit keys.

• MetaTrader 5 (MT5)

• • Compared to MT4, MT5 has an enhanced interface and expanded features. Have a taste of them below:
  • More advanced trading robots and scripts.
  • Analytical tools include 38 inbuilt indicators, 22 analytical tools and 46 graphical objects.
  • More trading options, including 8 pending order types (2 of which are MT5 exclusives).
  • Built-in economic calendar with news events and forecasts.

• WebTerminal

• • No downloads or installation make this the most accessible platform available.
  • HTML5-based and developed by MetaQuotes making it reliable, fast, and user-friendly.
  • All the basic functions you need to trade effectively and work on all browsers and operating systems.

• MultiTerminal

• • The ability to simultaneously trade on up to 128 real accounts, all opened on the same server.
  • The ability to simultaneously trade on up to 10 demo accounts, all opened on the same server.
  • Unavailability of analytical tools such as charts and EAs.
  • This platform is only available for Windows and requires downloading and installing to use.

• Exness Trader Mobile App

  • This is a mobile app platform build by Exness.
  • It enables you to manage your Exness accounts securely and avails technical analysis tools.
  • Enables compact yet comprehensive Forex trading terminal.
  • It is available for Android and so you can download it from the Google Play Store.

• Exness Terminal

  • This is a web-based platform built by Exness based on MT5.
  • As such, it is only available for MT5 accounts.
  • The platform requires no downloads or installation to use.
  • Offers all the basic functions required to trade effectively, with some exciting features coming up in the future.
  • Social Trading Mobile App.
  • It enables investors to copy active traders so that both potentially earn from profitable trades.
  • It is basically the app for social or copy trading.
  • Newbies can make use of the platform by simply copying experienced traders who perform well.

Client Support.

If you need assistance, the Exness support team is always available to help. The broker offers 24/5 client support in some languages and 24/7 in some others. Here are the channels through which you can reach Exness client support:

• Live Chat – 15 Languages offered, including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish.
• Email – [email protected]
• Phone
  • +254800720064
  • +254205293810
• Social media

Trader Education.

Exness broker has a rich educational database for traders of all levels – beginners and advanced traders.

Exness’ academy is the name of the educational database.

It is dedicated to sharing experience and knowledge about all aspects of trading the most popular derivatives.

Exness’ academy breaks its trader education into three classes; essentials, development, and breakthrough.

Alongside the educational material offered at Exness’ academy, Exness also offers regular webinars that cover different aspects of trading.

They also have a lineup of experienced traders and analysts who provide live trading commentary during key fundamental events or the release of critical economic data likely to affect prices.

10. eToro.

eToro is a trading broker which was established in 2007 in Israel.

Its headquarters is located on the 24th floor, One Canada Square Canary Wharf E14 5AB, Greater London.

The broker boasts of over 20 Million registered users on its database which means that it is a very popular broker across the world.

Coverage.

eToro can be accessed by traders anywhere they are in the world.

The broker is available in so many countries that my hand could not type, meaning that its global coverage is indeed impressive.

Just confirm if the broker is available in your country, which is highly likely so.

Demo Account.

eToro offers a free demo account for new traders to practice trading risk-free under real market conditions.

The demo trading account lets you experience all of the features that eToro has to offer. Manage your virtual portfolio easily with a clean and simple interface offered on the demo account by eToro.

Account Types.

Basically, eToro offers two account types namely the Retail Clients Account and the Professional Clients Account.

Those two trading accounts types are regulated by ASIC, CySEC, and the FCA.

The Retail Clients Account is also known as a retail investor account.

It is ideal for non-professional traders, provides both Copy Trade functionality and manual trading, and offers Negative balance protection which ensures losses don’t exceed a trader’s deposit.

There are strict margin closeout restrictions for traders holding such accounts. Leverage for the Retail Clients Account is restricted as detailed below:

• 30:1 for major currency pairs.
• 20:1 for exotic currency pairs, gold, and major indices.
• 10:1 for other commodities.
• 5:1 for CFD stocks.
• 2:1 for cryptocurrency CFD.

The Professional Clients Account is ideal for experienced traders who are required to pass a test in order to get that account type.

Leverage can be up to 400:1 and Negative balance protection is offered, ensuring losses don’t exceed the trader’s deposit.

Trading Assets.

eToro offers various trading instruments spread across Forex pairs, Cryptocurrencies, Share CFDs, Commodities, and Exchange Traded Funds (ETFs).

Security and Reliability.

eToro is a registered, regulated, and supervised trading firm that follows the regulatory framework of the world’s most powerful and reputable regulatory bodies.

Here are the bodies which strictly regulate eToro:

• Australian Securities and Investments Commission (ASIC) in Australia. eToro is registered by ASIC as eToro Aus Capital Pty Ltd. The company’s Australian Financial Services Licence (AFSL) number is 491139.
• Cyprus Securities Exchange Commission (CySEC) in European markets. eToro is registered by CySEC as eToro (Europe) Ltd.
• Financial Conduct Authority (FCA) in the United Kingdom (UK). eToro is registered by FCA and trading as eToro (UK) Ltd.

Yes, eToro is regulated by reputable regulatory bodies.

But to avoid scams, it’s important to make sure an online broker is regulated in your local market.

Therefore be sure to find out if eToro derives regulation from the market regulators of your country.

Deposits and Withdrawals.

Payment methods for deposits and withdrawals supported by eToro include:

• Wire Transfer.
• Credit Card.
• Debit Cards.
• Neteller.
• Paypal.
• Yandex.
• Skrill.
• Webmoney.

Deposits and withdrawals in eToro are not free.

A withdrawal fee of $25 per transaction with which conversion fees also apply when the withdrawal request is made in non-USD currencies, is charged.

The minimum withdrawal amount is $50.

Additional fees may be charged by the withdrawal service provider, so the charges may actually be higher.

eToro withdrawals may take up to a business day. You can contact their client support if it takes unnecessarily longer.

Trading Apps.

eToro offers three major trading platforms namely:

• Web Trader – for both PC and Mobile smartphones.
• Desktop trading platform – for both Windows and MacOS.
• Mobile App – for both Android and iOS.

Trading Tools.

The broker offers various tools useful to the trader while trading. The following are the features and tools available for each platform which traders may find resourceful:

• Webtrader and Desktop Platform
  • The Webtrader and the desktop platform for eToro offer similar tools and have similar features.

• • User-friendly interface.
  • Ease of use.
  • Comfortable design.
  • Advanced functionality.
  • Customizable watch list with all other panels fixed.
  • Both indicative prices and current market prices are displayed on the platform.
  • There is advanced search functionality with predictive text.
  • Leverage can also be set for any position that is opened.
  • You can also view a Fee report to see the total fees you have paid overtime or on a particular trade.
  • You can set alerts on your desktops such as an icon update for market sensitive events or movements.
  • There is the option of a demo account or you can trade with real money on a live account through the eToro platform.
  • Market orders.
  • Limit orders.
  • Stop Loss orders.

• Mobile Trading Platform

• • Availability for both Apple and Android devices.
  • Allows trading CFD stocks, indices, EFTs, Forex as well as commodities.
  • Social trading such as the ability to copy leading investors is also available using the mobile app.
  • You can get notifications of movements across relevant markets.

Client Support.

You can contact eToro customer support if you have any queries or concerns and your issue will be resolved.

Various means through which you can contact the client support include:

• Live Chat – find the functionality in the trading platform.
• Request form or ticket – find the form on the trading platform.
• Phone – 1-888-271-8365
• Email – [email protected]

Trader Education.

In matters of trader education, eToro has been a champion.

Newbies can register for an online or classroom course and learn to trade crypto, stocks & currencies.

They can also kick start your trading education with eToro’s online course, weekly webinars, and podcasts.

A wide range of educational resources indeed, all for the good of the trader.

Copy Trading.

eToro is a unique broker in CFD trading due to the copy trading feature.

Over 140 countries, translating into millions of users, have access to the social trading platform.

While copy trading, you can find the most popular investors using the ‘editor’s choice’ or by filtering via the search tool.

Filters include location, risk score, and other factors. CopyTrader and CopyPortfolio allow the copier to reproduce selected trader’s strategies.

The selection criterion is such that copiers tend to choose the traders who performed best in the past.

Top traders who share their data to eToro receive payments depending on how many copies they have.

This means that experienced traders can make money based on their trades and additional profits as high as 2% of assets under management as rewards for having copiers of their strategy.