Why does everybody hate etoro?

[EDDY_MO]

Seriously guys, you still using the service?

[TheLastBear]

Etoro is probably the worst broker I have ever allowed to handle a trade (back when they started to grow, I have long stopped using them). They offer what may be the world’s least professional platform to trade. They force you to use S/L and instead of choosing how many lots you want to trade they force you to decide how much money you want to spend and think they have reinvented the wheel.

In my opinion, anyone who is serious about trading and wants to make a living will not waste their time with etoro. True, they cater to retail traders but even a retail trader deserves better conditions then offered by etoro. I mean there is a reason why MT4 (MT5) is the standard and most widely used platform among retail and pro traders.

I use PaxForex who goes the extra mile for traders and offers extras a lot of other broker do not offer yet. I am glad I found them and am very pleased.

[EDDY_MO]

Etoro is probably the worst broker I have ever allowed to handle a trade (back when they started to grow, I have long stopped using them). They offer what may be the world’s least professional platform to trade. They force you to use S/L and instead of choosing how many lots you want to trade they force you to decide how much money you want to spend and think they have reinvented the wheel.

In my opinion, anyone who is serious about trading and wants to make a living will not waste their time with etoro. True, they cater to retail traders but even a retail trader deserves better conditions then offered by etoro. I mean there is a reason why MT4 (MT5) is the standard and most widely used platform among retail and pro traders.

I use PaxForex who goes the extra mile for traders and offers extras a lot of other broker do not offer yet. I am glad I found them and am very pleased.

You could not have said it better about etoro!!! I tend to hold the same opinion coming from practice unfortunately:(
about your broker i have heard him but seems okei I suppose you trade manually mt4, myself i am not there yet (doubtful will ever be)

[davidmax1]

I also agree with you .I personally know that etro is not a broker .

What you said is not true (at least in some sense). Etoro may not be a broker but they are owned by the broker I trade with (or at least was a couple years ago). Not only that if what you said was true then the CFTC would be all over them. They are a ok broker. What most people dont like about them is the open book that lets you copy trades as the “PROS”. The problem with that is you can open an account today an post trades. That does not make you a pro by any means. In return it has left a bad taste in peoples mouths about them. Kinda of the same situation Zulutrade is going through right now. If you trade yourself then you will be fine. I also know a couple years ago there spread were really high.

[EDDY_MO]

I also agree with you .I personally know that etro is not a broker .

in USA it is an introducing broker, and in Europe is registered as Cypriot Investment Firm to provide brokerage services.
So bottom line is a broker with a platform

FYI: i am a follower in zulutrade and true there are thousands of diff providers (some good; other not so much) the system is pretty clear cut and tells you who to follow and get profit from. I’ve been on etoro as well, but have not gained as much as with zulutraders. Yes, manual trading can be more profitable, but as you said it yourself it is not for everybody.

[TheLastBear]

You could not have said it better about etoro!!! I tend to hold the same opinion coming from practice unfortunately:(
about your broker i have heard him but seems okei I suppose you trade manually mt4, myself i am not there yet (doubtful will ever be)

Yes, I trade manually but they do offer EA’s if you like to use robots. I can only recommend that you give them a try with their $200 No Deposit Bonus.

I would also suggest that you slowly work your way to being able to trade manually as the work is worth it from my experience. Use some of your profits (I do hope you make profits following others) and start to work on our own strategy.

[EDDY_MO]

Thanks for the tip! I did try them though invested 100$ and got .90 cents return (over a month period).
yeah you have a point, manual trading if one knows itcan get really good roi, but in my experience, ive done quite some losses so I’d better stick with the safe and sound - zulutrade traders in my case.

[eforex1]

what can you tell me about zulutrade EDDY ? Any crashes , lags or downtimes?

[EDDY_MO]

what can you tell me about zulutrade EDDY ? Any crashes , lags or downtimes?

nope none of the above. All my trades are executed as per the SPs that I follow. Sometimes I do bump into reading other users having problems but it turned out to be from their brokers site.

[eforex1]

You mean broker mistakes? Are there many brokers that you can use along with zulutrade? Which one are you using?

[EDDY_MO]

im not really into the tech stuff, so cant tell you much except for smth like disconnected trades and stuff.
Yes there are quite a number of brokers (all top ranked big names) …I’m using aaafx.

[lurdmanny]

There are two basic types of brokers, Dealing Desk and Non Dealing Desk. NDD basically charge you a spread normally very tight, they normally don’t care your entry or exit point, they only make money when you trade wetter you gain or lose. Normally NDD such as an STP broker (Straight Trough Process) they pass your order to a liquidity provider in many cases a big bank. Another type of NDD broker is the ECN (Electronic Commerce Network) who besides a liquidity provider can pass your orders to another broker or in rare cases to another trader. STP normally charges you a very tight spread and in most cases a fixed spread too and ECN mostly they don’t have spreads but they charge you a fixed commission wich can be a beneffit if you trade bigger amounts. These does not come for nothing, with these brokers you cannot trade mini accounts and minimum deposits are unafordable for newbies. With NDD brokers you can scalp, you have no delays and ni requotes, at least not like market makers. They more you trade the more they make money. There is not a direct conflict of interests, the conflict they just pass it to someone else.

In the other hand you have DD brokers that can be STP and Market Makers. A DD can manipulate the price you get in case of stp the only interest is to charge you a bigger spread. But a Market Maker also manipulates the prices. You can receive endless requotes if not they put you a delay in your order so when it is finally accepted it might be useless for you and you might en up losing. Basicaly a MM is a closed enviroment, an artificial market where the broker earns what their clients loses, in other words there is a direct conflict of interests. It is hard to scalp with MM because orders are not filled quickly, spreads are wide and not fixed. The more you lose the more they win.

Basically that is the sort of sh*t you must learn to deal with. This is only for the tough, this is not for the innocent nor the misinformed. You are swiming in a sea full of sharks and the biggest shark is your broker. Remember “[B]The Broker is not you Friend”.[/B]

Regards.

I love that line in BOLD

[eforex1]

Ok eddy , i will look into it. Maybe i’ll try my luck with zulu. Going to research brokers.

[EDDY_MO]

Good luck to you! look for this one that offers you the best trading solutions

[Fxmall]

That’s a loaded question, Etoro does not live up to expectations and if you compare Etoro and Zulu, you’ll see that Zulu is getting a better press than Etoro for the simple reason they are upfront about what they do [to an extent]…

[EDDY_MO]

That’s a loaded question, Etoro does not live up to expectations and if you compare Etoro and Zulu, you’ll see that Zulu is getting a better press than Etoro for the simple reason they are upfront about what they do [to an extent]…

better press because people are speaking from experience!

[TheLastBear]

FYI: The owners of etoro have opened a second ‘broker’. Faro FX, different name, same crap!

[kevintrader101]

Because it sucks (answering the thread question)

[EDDY_MO]

FYI: The owners of etoro have opened a second ‘broker’. Faro FX, different name, same crap!

thanks for the info mate!!! i know what [I]not [/I]to bump into next time

[eforex1]

First time i hear this , i wonder why they need a second broker , and it seems that it started working by the end of 2011. Have you tried it yourself?