Etoro Review – Commodities Trading

The addition of commodities trading to the eToro platform is a welcome bonus to users of one of the best online trading platforms. Those wishing to get into commodities trading will be pleasantly surprised at how easy it is to learn the game, even if they have never traded before.

The software format is the same as for currencies trading, a simple interface with the most important features being clearly marked. You do have to hover your mouse over a couple of functions to find out what they do, however, even for a beginner, once found, the location of everything is not forgotten as the screen is not too busy and so manages to retain a sense of order.

The only problem with the platform is that it is so ‘gamelike’, that its almost a temptation to think you are playing a game, and forget that its your hard earned cash that you are staking! (with some broker’s software you immediately know its business, as their interface looks like a series of Excel spreadsheets layered on top of each other). But, at least there is a demo account on offer to give beginners the opportunity to master the software before laying out real cash, and the demo account can be altered from ‘visual’ to expert mode if you find the visual screen a bit patronising.

There’s a Traders Insight log, which follows trades being placed by Etoro’s top 100 traders. Obviously this should be taken with a pinch of salt, but if you are just about to buy gold, and you notice 95% of current trades are selling gold, then it would be smart to pay attention, and think again about your reasons for placing the trade.

The live chat forum can get a bit lively, and there are loads of threads running on their post forum, many of them of which are a great help to newbies. If you are new to the game Etoro is a great place to start out, and if you do start out here, then like many traders, you’ll probably stay there as they’ve got their eye firmly on their customer base, and do their best to keep people on board by providing a full-on and reliable trading experience. One criticism would be the live chat support which does not always seem to be running. Having said that, it’s been improving lately, and if you did have a serious query, it’s always better to deal with email, as you’ve got a more secure record of dealings.

As you can see from the screen-print below, the ‘expert’ mode of Etoro is a very ‘clean’ interface, with a series of simple tabs and buttons to navigate through its to functions and logs. In short, it would be difficult to create an interface that do a better job of making all necessary information so easily accessible.

Transactions are simple, select a currency pair, click ‘BUY’ or ‘SELL’, select your trade options, and open the trade. The button to the left of the commodity pair will bring up a relevant trading chart which is customizable. Your balance and available margin are continuously updated and shown in real-time at the bottom of the screen along with profit and loss on any open trades.

Overall, Etoro has to be one of the easiest platforms to get to grips with, and is one reason why they are one of the most popular Forex trading platforms.

The Facts

How to open an account

Minimum Deposit

  • $200

Minimum Trade

  • $25

Deposit options

  • Credit/debit card, bank transfer, wire transfer, China Union Pay, Giropay (Sofort├╝berweisung), Neteller, PayPal, Skrill Limited UK, WebMoney, Wirecard – Wire and Credit Card, Yandex, CashU

Trading platform Logon

Tutorials

  • Online trading and platform guide

Support

  • Email, live chat, telephone

Operating System Requirements

  • Web-based, or xp for download

Commission charged

  • No

Demo Account

  • Yes, $10,000

Sign Up at eToro here