An Overview On Etoro And Plus500 Forex Providers

By Author: adisonsmith
Total Articles: 2

The popularity of forex is certainly unquestionable...People from all parts of the world trade forex for various reasons. However, a new trader cannot be expected to become professional overnight, rather, one would need a good amount of time and practice to get accustomed to forex trading. Trading forex needs a broker, and it is this broker which plays a crucial part in the performance of a trader, so it is advisable that the trader should look around and find a reliable broker.
Amongst an array of brokers, eToro is one of the most popular forex providers. It has developed its own trading platform known as the Open Book; it also trades on eToro WebTrader. This Open Book allows traders to observe, track as well as copy other successful traders and investors. This can really be helpful for a trader in being successful. It offers a free demo account for new traders so that they are able to test exchange of currencies without risking their money. However, for traders who are trading by paying deposit amounts are entitled to receive a newsletter, special events, and advanced analytics. The minimum deposit at eToro is 50 euro.

Plus500 is another popular forex provider to which a lot many traders have been registered to. These traders are offered the WebTrader trading platform which can be downloaded. A version for the iPhone and the iPad is also available. However, the eToro does not currently offer mobile apps. Plus500 too offers a free demo account; also, it offers a bonus of 25 euros to a trader even before one has made his/her first deposit. The minimum deposit in Plus500 is of 100 euros.

eToro works great if a trader wishes to pursue a detailed technical analysis; Plus 500 offers chart analysis; candlestick charts are offered by both brokers. Both trading platforms offer little scope for innovation. Although trade execution is fairly simple in both platforms, but it is comparatively faster in Plus500. Both eToro and Plus500 work perfect for beginners and allow them to trade in a much simpler way. eToro allows a variable spread whereas Plus500 offers a fixed spread. The lever of 1:400 is truly helpful in achieving a very high profit and that too with a low capital investment. The leverage in Plus500 is 1:50.
Both foreign exchange trading platforms are perfect, and are no competition to each other.