Still the #1 Broker for Social Trading in 2025

Still the #1 Broker for Social Trading in 2025

It is the broker’s proprietary platforms, however, where BlackBull Markets shines. Recently launching BlackBull Invest, as well as the award-winning BlackBull CopyTrader and BlackBull Trade, there is something for every type of trader. To add to IC Markets’ appeal as a low-cost broker, it averaged 0.32 pips for the USD-backed majors on its RAW account against the broker average of 0.42 pips. These results put it third on our list for RAW/ECN-style accounts, just behind Fusion Markets (0.22 pips) and City Index (0.25 pips). IC Markets advertises an average spread of 0.02 pips for the EURUSD and while that might seem curiously low, Ross Collins from our team from IC Markets still had the lowest spreads.

Similar functionality existed with other brokers, https://traderoom.info/etoro-forex-broker/ but eToro created a full-fledged social network for stock speculators. Every trader got their news feed and the ability to leave comments and like posts — in short, the broker offered a convenient platform for sharing experiences. In 2007, several Israeli financiers founded the brokerage firm RetailFX. Initially, it focused solely on the Forex market and targeted beginner traders.

The currency market refers to the overall market in which people are able to buy and sell international currency. Sometimes, it is also referred to as the foreign exchange market, forex or the FX market, and market trading hours/times run 24 hours a day in different parts of the world. Oanda is the most trusted broker, with a perfect trust score of 100 based on the broker’s excellent reputation, longevity in the industry, and multiple, Tier-1, Tier-2 and Tier-3 regulators. To find out who was the fastest forex broker, we tested 15 top brokers’ Execution Speeds with VPS Speeds. Slippage (or gapping) is when you receive a different trade execution price than what you intended. Obtaining a different trade execution price is due to market volatility and the time it takes to electronically submit an order and when that order is executed.

• It’s recommended to use the same withdrawal method as the deposit method to avoid delays in payment methods.
• The key issue though is that this platform is unique to eToro, making it hard to switch online brokers and learn a new interface.
• The minimum deposit for Australian residents is $50 with other markets such as China requiring an initial deposit of $500.
• In theory, forex trading can be easily understood, but it is difficult to master.
• Although they serve clients from around the world, at the time of writing, they only list offices in the United Kingdom, Cyprus, and Australia.

Choice Of Markets

The cost of eToro’s copy-trading service is incorporated into its spreads. So while it may be “free” to use eToro in terms of commissions, you will still incur trading costs – such as the bid/ask spreads. Set up a demo account to learn the basics of how forex trading works using virtual funds.

An Introduction to Forex Currency Pairs

EToro, based in Tel Aviv, Israel, is renowned for its user-friendly platform and social trading features, making it ideal for both beginners and advanced traders. The platform offers a wide range of tradable assets, including forex, stocks, commodities, and a comprehensive selection of cryptocurrencies. EToro stands out as an excellent choice for traders who value a social and user-friendly trading experience.

RAW Accounts

That way, you can test out the broker’s trading platform, products, and overall trading experience for yourself before making your final decision. Some brokers even offer a dedicated account manager who takes the time to understand your needs, monitors the markets on your behalf, and provides trading guidance. A broker offering good customer support can make your overall trading experience smooth and enjoyable. Then there are brokers like Pepperstone, who do everything very well, from competitive spreads to diverse trading platforms.

EToro’s commitment to education is evident, and could enhance its appeal to a wide range of traders from beginners to those who seek in-depth knowledge and advanced strategies. EToro offers a comprehensive learning centre called the eToro Academy — designed to equip traders with educational resources. EToro charges overnight funding fees for positions held overnight on leveraged trades. This diverse selection of instruments showcases eToro’s commitment to providing its users with a rich and varied trading experience. EToro’s dedication to creating a safe and trustworthy trading environment is reflected in its robust regulatory compliance, stringent fraud prevention measures, and strong client fund security. These efforts assure clients of a secure trading experience, underscoring eToro’s commitment to their safety and trust.

The trading platform allows risk management tools such as “Stop Loss” and “Take Profit,” but these are different from what we would call the “normal” way of using such orders. It’s not necessarily bad, but it seems geared toward the beginner-to-medium class of traders. For increased mobility and for traders who need to keep in constant touch with the markets, eToro offers a proprietary mobile trading app, with versions for both Android and iOS. We’ve tested out the iOS version, and it performed without any obvious glitches.

Can I Trade Forex in the USA?

While all deposits are free of cost, with the broker absorbing any transaction fees, conversion fees may apply to both deposits and withdrawals. The company forayed into the Forex trading industry with an innovative trading platform that showed the world trading could be fun. It had one of the best Windows trading platforms in the market, which took the guesswork out of trading. However, with the launch of several feature-rich third-party platforms such as MetaTrader and cTrader, the company quietly let go of its desktop app and instead developed the WebTrader in 2009. The current version is the evolution of its WebTrader, which did sacrifice a lot of its animation and graphics for a more rounded and subtle approach. To complete your profile, you should enter your name, date of birth, address and passport number.