ETORO Ripple Broker Review
With the gaining popularity of trading cryptocurrencies in mind, eToro became one of those brokers which did the right thing! The did only anticipate on crypto trading in general but also managed to combine it with their existing social trading experience! Our opinion? BIG fun!
New to trading?
New to the world of Cryptocurrencies?
In need of more action whilst trading?
Etoro has found the answers on all the above questions!
Not too long ago, brokers spontaneously started to add cryptocurrencies to their asset lists. Many of them added bitcoin at start but soon added others such as Ethereum, Litecoin, Dash and Ripple. Naturally, taking the up-going trends of the diverse crytpocurrencies in consideration, this offered many opportunities for many traders.
Etoro is one of those brokers which are doing things different. On their social trading platform called Openbook you can follow and copy traders. On their Webtrader in addition, you can implement your copied trades and thus, profit from the traders which are doing well. This created a situation in which people with little experience became hugely attracted to joining eToro.
The result of those 2 elements seems to have triggered something in the world of online trading as eToro recently has seen a major rise in the amount of traders which are joining them on monthly basis.
When testing it ourselves, we soon found out why this combination seems such a winning formula.
Firstly, the world of cryptocurrencies is literally booming right now! People love speculating, writing and speaking about this on the net. Huge discussions can be found on for example facebook and people in short cant get enough of it.
When looking at eToro, this is exactly what they are offering with their social trading experience. You have the chance to interact with people that are 1. trading and 2. interested in the world of cryptocurrencies. The result: A real crypto pub which is loaded with action and options.
Traders which are looking for metatrader 4 or metatrader 5 probably would believe they dont really have a lot to find here as eToro works with their Openbook and Webtrader. It is true that these differ from the traditional 2 before mentioned platforms as the look and feel of eToros' platforms is simply different. It does not have the EA's and other bells and whistles that MT4 offers but honestly said, its not a bad place at all to execute your trades and in our opinion for most traders this is more than enough. The webtrader allows you to analyze your trades in real time and synchronize with the OpenBook from your desktop computer.
Naturally, eToro also offers the option to trade on your mobile device. Their app can be downloaded for Android devices and Iphones and offers the same functionalities as the Webtrader.
Etoro's demo account offers a full functioning demo account that has $100,000 usd in there. It will give you the chance to get used to their platform and play around.
If you decided to take your trading to the next step, the opening of a standard account would be the next logical step. The minimum investment required in this case is $50.
Of course, eToro offers an Islamic account as well but this one demands a minimum investment of $1000
Of course, you can expect eToro to offer you a bonus on your first deposit and additionally, once trading, there are all kinds of promotions (mostly seasonal or event based) of which you will be informed of by email/phone.
Deposits and Withdrawals
Depositing at eToro can be done in a variety of ways.
Of course there are credit card processors in place which accept both visa and mastercard. Additionally, there are Alternative Payment Providers such as Paypal, Skrill, Neteller, Credit Cards and MoneyGram.
Lastly, you can also send wire transfers from your bank account to theirs. Please keep in mind (its normal although) that there might be some wire fees from eToro its side once you are receiving a withdrawal. These amounts vary between $5 and $25 and the arrival of the funds can take from 2-5 business days. (depending on holidays, weekends etc)
Both the depositing and withdrawal procedures can be done with ease. Unless others brokers, asking a withdrawal here is rather easy. We do advise you although to ensure that you will provide all documentation requested upon account opening. These documents need to be delivered due to the fact that eToro is regulated and has a strict KYC protocol in place.
The Best Social Trading Platform...and an amazing place to trade cryptocurrencies!
In our opinion, the combination of social and cryptotrading goes together in an excellent way. As said in the beginning, the crypto hype with the social aspect is a great combination. Beginning traders will really feel at home at eToro due to the simplicity behind the concept. Advanced traders might have to get used a bit but i don't believe this should be a problem as the platform does what it needs to do.
eToro Ripple broker is without any doubt the best social trading platform on the web as well. If you are new to this Industry and never have traded before and now want to Trade Ripple online, this is the solution for you! You'll have a blast!
Etoro Ripple Broker Details
|Regulated By||CySEC, FCA|
|Number Of Employees||500|
|Contact Information||Tel:357 2 5030234|
|Deposit Options||Credit Card, Moneybookers, MoneyGram, Neteller, PayPal, Webmoney, Western Union, Wire Transfer|
|withdrawal Options||Credit Card, Moneybookers, MoneyGram, Neteller, PayPal, Webmoney, Western Union, Wire Transfer|
|24 Hours Support||Yes|
|Support During Weekends||No|
|Customer Support Languages||Arabic, Chinese, Dutch, English, Finnish, French, German, Greek, Italian, Japanese, Multi-lingual, Polish, Portuguese, Russian, Spanish, Swedish, Turkish|
|Supported Trading Platforms||eToro Platform|
|Commission On Trades||Yes|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||Yes|
|Has VPS Services||No|
Trading Forex, Stocks and CFDs carries risk and could result in the loss of your deposit, please trade wisely.
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