Understanding eToro MT4: An Investors’ Guide

Etoro has long been a forex trader that was determined to stand out from the crowd. When most of the competition opted for the MetaTrader 4 forex trading platform, eToro chose to go with three different proprietary software packages, including Mobile Trader and OpenBook. The company was also keen to use its own type of social forex trading where others were using signals services or trading rooms. However, back in 2011, eToro made the decision to start offering MT4 for its traders, although it would appear that this is no longer available.

  • The rise of eToro
  • Is eToro a good choice?
  • Learn how to trade
  • Learn what you can trade
Forex Highlights

The History of eToro

eToro has been in existence for more than a decade and its aim has been to change the traditions of the money management industry. It is estimated that there are now 6 million registered users of the eToro trading platform and the company has developed many different tools and instruments for trading. eToro started life at the beginning of 2007 and launched with the Visual FX trading platform. This used graphics to make trades a little more fun. Webtrader was the next eToro platform and was launched at the beginning of 2009.

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This allowed anyone to trade, no matter where they were. Both beginners and more experienced traders were able to use Webtrader easily. Two years later, along came OpenBook, the first social trading platform to be launched in the world. It had a CopyTrader feature that enabled the user to copy the trades that were being conducted by the most successful traders and therefore help to achieve similar results. This was an award-winning eToro platform, picking up a Finovate Europe award in 2011 for Best of Show. It was in 2012 that users were able to start using an eToro platform to trade in stocks as well as currencies and commodities and other assets.

  • Long-standing platform designed to innovate the trading experience and make it fun
  • Used by over 6 million registered users globally
  • Trade from any location at any time using real market values
  • Easily accessible to beginners and hardened investors alike

Top 3 Forex Broker Comparison

1
of 21 Forex Broker Cityindex
Currency pairs 84 Currencies
Max. Lever 1:30
Trading size Mini-Lot
Minimum deposit € 100
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
2
of 21 Forex Broker Pepperstone
Currency pairs 70 Currencies
Max. Lever 1:30
Trading size Mini-Lot
Minimum deposit $ 200
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
3
of 21 Forex Broker Markets.com
Currency pairs 50 Currencies
Max. Lever 1:30
Trading size Micro-Lot
Minimum deposit $ 100
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.

Mobile revolution

eToro did not forget that the world had gone mobile, though, and at the start of 2013, it launched its own mobile app. The app linked to both the OpenBook and Webtrader platforms and was made available to Apple and Android users. Two years later, the company created one innovative interface by combining the best features of both WebTrader and OpenBook. January 2016 saw the company launch CopyFunds, an investment product aimed at those interested in long-term investment. This is a managed portfolio that bundles assets using a market strategy that has been pre-determined. The aim is to ensure that the investor sees maximum return on his investment. The mysterious world of the cryptocurrency was not forgotten and at the start of 2017, the option became available to investors to add cryptocurrencies such as Litecoin and Ethereum to their portfolio. Bitcoin was an option for investors using eToro from 2013. The range of options that is available to investors and the innovative and comprehensive investing tools are just some of the reasons why people have chosen eToro over others in a forex trader comparison. However, eToro MT4 is not something that investors can benefit from – eToro has stated that this is because it is not compatible with its systems.

  • Available on Android and Apple
  • Innovative and easy-to-use interface
  • Wide range of options are open to investors

Why do Customers Choose eToro?

One of the main reasons why this product is so attractive is that it is very simple. eToro has allowed online investing and trading to become available to anybody. In developing its systems and tools, eToro has managed to keep in mind those who are just starting out and those who are more experienced at investing. It has managed to build a strong reputation for quality services, particularly when it comes to the social trading platform system. There are short-term trading options for those who are acting as day traders and longer-term options for those who are investing. This includes the aforementioned CopyFunds. eToro is also very aware that different people have a different tolerance to risk and there are different instruments that provide various levels of risk. eToro asserts that all the online tools are easy to use and all the information on the platform can be accessed either via your computer or the mobile app.

  • Extremely popular because eToro is so simple and easy to use
  • Provides a quality service with a social trading system that allows users to interact
  • Offers plenty of options for both long- and short-term traders
  • Risk can be easily mitigated depending on the user’s preference

Learn About Trading

While there may not be an eToro MT4 option for you to choose from, eToro offers plenty of other tools and courses so that you can learn everything that you need to become a day trader or a long-term investor. The courses are designed to introduce you smoothly to online trading, and if you want to test your newfound skills before you start to risk any of your hard-earned cash, then all you have to do is use the free practice account. You can trade online without risking your money – this is a virtual money account and it is available to everyone who signs up with eToro. The account is credited with $100,000 so you can work out the strategies that you are going to use before you test them for real. The organisation has also formed several partnerships with different financial institutions, including the Ping An Group from China and the Sberbank from Russia, to promote financial education. Once you have learnt how the platforms work and you want to automate some of your trades, you can make use of the CopyTrader feature, which uses the way that experienced traders work so that you can benefit from similar systems and learn from the way in which they trade. CopyTrader has been combined with the Popular Investor program to create a new tool called CopyFunds.

What Can You Trade on eToro?

You may not have an eToro MT4 option but the platforms that are available will allow you to trade a variety of different assets. Stocks are a popular option and there are plenty to choose from. If you are looking for a medium or long-term investment, then stocks could be just what you need. If you want to trade stocks via eToro, then this is done using CFDs, so that you can opt for ‘sell’ positions alongside fractional share trading. It is a good way to get started and you can still invest in stocks that have a really high price, even if you do not have that kind of money to invest. Commodities are the next option and this is one of the oldest types of trade, going back thousands of years. It may be something such as oil or gold. Gold is usually seen as a safe haven for investors, though, and is the ‘go-to’ investment for those who are avoiding forex investments in a volatile market.

  • Trade stocks or commodities and keep up-to-date with the latest news and announcements
  • Choose from a wide variety of stocks and trade via CFDs
  • Gain extensive experience by trading on the market from the comfort of your home

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Trading in Currencies

Currency trading is a popular option and when making a forex comparison between traders, eToro could be high on the list, as it is widely considered to be one of the best forex traders. Foreign currency is one of the largest trading markets in the world, with around $5 trillion traded every day. However, this is also a very volatile market and things can change in seconds. Trades will be opened and closed in just a few minutes and in some cases, you would require a great deal of money to see a substantial profit. Leveraging is a popular system in forex trading where the trading platform will loan the trader money to boost the value of the trade, but losses are leveraged too, so funds can also disappear in substantial amounts. Interest rate decisions and other economic events can all affect the value of a currency. You could also consider an exchanged-traded fund (ETF), which is a financial instrument that uses a number of different assets but groups them together so that they become just one tradeable asset. A specific strategy is used for each fund and can be planned to be a low-risk option for an investor. The creation of ETFs is carried out by financial bodies who use a team of experts to design the fund to reach a specific target. These are aimed at long-term investments.

Take Your Investments into the Future with Cryptocurrencies

Cryptocurrencies are extremely popular now and eToro offers the opportunity to invest in other types of cryptocurrency, including Ethereum. There is a unique Crypto CopyFund that gives the investor exposure to the market and this is overseen by the investment committee at eToro. Those who are signing up to eToro could also consider social trading. This will allow you to make the most of the experiences of other traders, for example, with the help of the CopyTrader system. Social trading is considered to be simple to use, particularly for those who are new to investing. This also allows for a more diverse range of investments, and the majority of copied trades make a profit. There are strict regulations that oversee social trading, and millions of people are choosing to invest in this way. eToro has a social trading newsfeed so you will get updates on the market as you go. Traders themselves can post information that might help others, such as explaining an investment decision and this is a great way for you to build your knowledge of trading.

  • Gain experience in trading with cryptocurrencies
  • Diversify your investment portfolio
  • Get the latest updates on your investments while you trade
1
of 21 Forex Broker Cityindex
Currency pairs 84 Currencies
Max. Lever 1:30
Trading size Mini-Lot
Minimum deposit € 100
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
2
of 21 Forex Broker Pepperstone
Currency pairs 70 Currencies
Max. Lever 1:30
Trading size Mini-Lot
Minimum deposit $ 200
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
3
of 21 Forex Broker Markets.com
Currency pairs 50 Currencies
Max. Lever 1:30
Trading size Micro-Lot
Minimum deposit $ 100
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
4
of 21 Forex Broker AvaTrade
Currency pairs 47 Currencies
Max. Lever 1:30
Trading size Micro-Lot
Minimum deposit $ 100
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
5
of 21 Forex Broker Plus500
Currency pairs 61 Currencies
Max. Lever 1:30
Trading size Micro-Lot
Minimum deposit $ 100
Go to Broker
CFD Service. 80.6% lose money
1
of 6 ETF Broker Charles Stanley Direct
ETFs w/ discount
Custody fee 0 GBP
Min. deposit £ 50
Trading from 11,50 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
2
of 6 ETF Broker Fidelity
ETFs w/ discount 93
Custody fee 0 GBP
Min. deposit £ 2.500
Trading from 25 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
3
of 6 ETF Broker AJ Bell Youinvest
ETFs w/ discount
Custody fee 0 GBP
Min. deposit £ 0.00
Trading from 1,50 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
4
of 6 ETF Broker Bestinvest
ETFs w/ discount 216
Custody fee 0.4% annually
Min. deposit £ 500
Trading from 0 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
5
of 6 ETF Broker DEGIRO
ETFs w/ discount 740
Custody fee 0 GBP
Min. deposit £ 0
Trading from 1,75 GBP + 0,004%
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Risk warning: Capital can be lost. Terms and conditions apply.
1
of 10 Stock Broker Charles Stanley Direct
National fees £ 11,50
Custody fee 0,25%
Intl. fees £ 11,50
Dep. Protection 50,000 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
2
of 10 Stock Broker Fidelity
National fees £ 10,00
Custody fee 0,35%
Intl. fees £ 10,00
Dep. Protection 50,000 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
3
of 10 Stock Broker Bestinvest Brokerage
National fees £ 7,50
Custody fee 0,4%
Intl. fees £ 7,50
Dep. Protection 50,000 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
4
of 10 Stock Broker DEGIRO
National fees £ 1,75 + 0,004%
Custody fee £ 0,00
Intl. fees 0,50 € + 0,004%
Dep. Protection 20,000 €
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Risk warning: Capital can be lost. Terms and conditions apply.
5
of 10 Stock Broker IG Stock
National fees £ 8,00
Custody fee £ 8,00
Intl. fees 10 EUR
Dep. Protection 50,000 GBP
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Risk warning: Capital can be lost. Terms and conditions apply.
1
of 20 CFD Broker Markets.com
FTSE spread 1.5 Points
Dep. Protection € 20.000
Max. Lever 1:30
Min. deposit £ 100
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Risk warning: Capital can be lost. Terms and conditions apply.
2
of 20 CFD Broker AvaTrade
FTSE spread 1.5 Points
Dep. Protection € 50.000
Max. Lever 1:30
Min. deposit € 250
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
3
of 20 CFD Broker Pepperstone
FTSE spread 1 Point
Dep. Protection £ 50000
Max. Lever 1:30
Min. deposit $ 200
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Risk warning: Capital can be lost. Terms and conditions apply.
4
of 20 CFD Broker Plus500
FTSE spread Variable
Dep. Protection £ 50.000
Max. Lever 1:30
Min. deposit £ 100
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CFD Service. 80.6% lose money
5
of 20 CFD Broker City Index
FTSE spread 1.0 Point
Dep. Protection £ 50.000
Max. Lever 1:30
Min. deposit £ 100
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Risk warning: Capital can be lost. Terms and conditions apply.
1
of 14 Crypto Broker IG
Crypto currencies 6
Max. Lever 1:2
Min. deposit £ 250
BTC spread 65 points
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Risk warning: Capital can be lost. Terms and conditions apply.
2
of 14 Crypto Broker IQ Option
Crypto currencies 13
Max. Lever 1:1
Min. deposit $ 100
BTC spread 6 percent
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Risk warning: Capital can be lost. Terms and conditions apply.
3
of 14 Crypto Broker CC Trader Crypto
Crypto currencies 5
Max. Lever 1:1
Min. deposit € 0
BTC spread 0
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Risk warning: Capital can be lost. Terms and conditions apply.
4
of 14 Crypto Broker City Index
Crypto currencies 5
Max. Lever 1:2
Min. deposit £ 0
BTC spread 40
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Risk warning: Capital can be lost. Terms and conditions apply.
5
of 14 Crypto Broker Markets.com
Crypto currencies 5
Max. Lever 1:2
Min. deposit $ 100
BTC spread 140 Points
Go to Broker
Risk warning: Capital can be lost. Terms and conditions apply.
1
of 6 Social Trading Broker ZuluTrade
Underlying assets 0
Dep. Protection 0
Min. deposit € 0
Max. Lever 1:30
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Risk warning: Capital can be lost. Terms and conditions apply.
2
of 6 Social Trading Broker eToro
Underlying assets 866
Dep. Protection 50000
Min. deposit $ 200
Max. Lever 1:30
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Risk warning: Capital can be lost. Terms and conditions apply.
3
of 6 Social Trading Broker Ayondo
Underlying assets 90
Dep. Protection 1000000
Min. deposit £ 2000
Max. Lever 1:30
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Risk warning: Capital can be lost. Terms and conditions apply.
4
of 6 Social Trading Broker Tradeo
Underlying assets 122
Dep. Protection 20000
Min. deposit £ 250
Max. Lever 1:30
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Risk warning: Capital can be lost. Terms and conditions apply.
5
of 6 Social Trading Broker FXTM
Underlying assets 247
Dep. Protection 20000
Min. deposit £ 5
Max. Lever 1:30
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Risk warning: Capital can be lost. Terms and conditions apply.
1
of 9 Spread Betting Broker City Index
FTSE spread 1 Point
Dep. Protection 50000
Max. Lever 1:20
Min. deposit £ 100
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Risk warning: Capital can be lost. Terms and conditions apply.
2
of 9 Spread Betting Broker IG
FTSE spread 1 Point
Dep. Protection 50000
Max. Lever 1:30
Min. deposit £ 0
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Risk warning: Capital can be lost. Terms and conditions apply.
3
of 9 Spread Betting Broker Core Spreads
FTSE spread 0.8 Points
Dep. Protection 50000
Max. Lever 1:30
Min. deposit £ 10
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Risk warning: Capital can be lost. Terms and conditions apply.
4
of 9 Spread Betting Broker OANDA
FTSE spread 1 Point
Dep. Protection 50000
Max. Lever 1:30
Min. deposit £ 0
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Risk warning: Capital can be lost. Terms and conditions apply.
5
of 9 Spread Betting Broker GKFX
FTSE spread 0.9 Points
Dep. Protection 50000
Max. Lever 1:30
Min. deposit £ 20
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Risk warning: Capital can be lost. Terms and conditions apply.

Conclusion:

Our Verdict

Those who are looking at eToro with MT4 in mind will be disappointed that there is no eToro MT4 platform. However, our eToro review shows that there are plenty of other great features about eToro, from a range of different trading platforms to a whole series of educational tools that help the complete beginner to get started in trading. There is a lot to learn at first and the ability to use a virtual account to put your skills to the test before spending actual money is definitely a bonus on this site. Being able to keep an eye on your investments using the mobile app is also an advantage of investing via eToro. Those who are concerned about a lack of eToro metatrader 4 should take the time to see what else is offered. The range of investment options via eToro is very impressive and with 6 million other users all apparently in agreement, there is nothing to lose by giving this site a chance.

Forex Highlights