Eurotrader Review
Eurotrader is a top choice for traders who wish to trade with a regulated broker that offers various financial assets and payment options. They provide traders with advanced trading platforms, which are available in desktop, web, and mobile versions. The minimum deposit required to start trading is $50.
Launched in 2018, Eurotrader is an online trading broker that is focused on delivering a modern and streamlined trading experience that empowers and educates traders of all experience levels. The broker offers many learning resources and useful trading tools to help traders get the most out of their trades. They allow retail and institutional traders to buy and sell various financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies, using a range of sophisticated trading platforms: MT4, MT5, and more. The broker is headquartered in Limassol, Cyprus, and is regulated by various financial authorities to provide online trading products and services. The minimum deposit required to start trading is $50.
Trading with Eurotrader comes with a lot of benefits. The broker is well-regulated, which gives traders the peace of mind they require. Also, the broker’s clients can trade on the powerful yet user-friendly MetaTrader 4 and MetaTrader 5 platforms for desktop, web, and mobile. The broker provides you with various favourable trading conditions, such as tight spreads, commission-free trading, rapid execution speeds, various account types, secure payment options, and more. You are also provided with various useful trading tools and a vast selection of learning resources to help you analyse the markets and make informed trade decisions.
Eurotrader provides you with a wide selection of Trading Products. This makes it easier for everyone to easily find something that they have an interest in so they can create their very own bespoke portfolio. The broker offers the following trading products: forex, stocks, indices, commodities, cryptocurrencies, and more. Eurotrader is a CFD broker which means that they enable you to speculate on falling or rising prices of a particular instrument without needing to take physical ownership of the underlying asset.
Eurotrader Instruments Summary
| Instruments | Eurotrader |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
Every trader is expected to be familiar with the commission fees of their brokers. The spreads and commissions can determine the return you make on your trades. While commissions are small transaction fees charged by brokers, spreads are the difference between an instrument’s buy and sell price.
Eurotrader provides traders with low spreads that may vary, depending on the account type you are trading with. The spreads start from 1 pip on the Micro account and 0.0 pips on the Zero and Hero accounts.
The broker charges a commission fee of $2.75 and $2 for trading forex on the Zero and Hero accounts, respectively. There are no commission fees on the other trading instruments.
Overall, I found the Eurotrader fees to be very good and better than a lot of brokers that I have reviewed in the past. They have accounts for different types of strategies, including scalping, manual and automated trading.
| Fee | Micro Account | Zero Account | Hero Account |
|---|---|---|---|
| Commission (per standard lot per side) | $0 | $2.75 (Forex trading) | $2 (Forex trading) |
| Spreads from | 1.0 | 0.0 | 0.0 |
Deposit and Withdrawal Fees
The broker does not charge any fees for account deposits and withdrawals. However, there may be some third-party fees depending on your payment provider.
Inactivity Fees
Eurotrader does not charge an inactivity fee on clients’ accounts. Some may charge fees to clients’ accounts when they leave the account dormant for a sustained period.
The broker provides traders with a good choice of advanced trading platforms to help them enjoy an enhanced trading experience. In addition to the broker’s proprietary trading platform, they provide traders with the MT4 and MT5 trading platforms, which are available in desktop, web, and mobile versions.
MetaTrader 4
The MetaTrader 4, MT4 for short, is a popular trading platform that was introduced in 2005. MetaQuotes, a Russian software company, own the platform. Since its launch, the MT4 has grown significantly to become one of the choicest trading platforms among forex and CFD traders.
The platform is built with many exciting trading features and advanced functionalities, including one-click trading, multiple timeframes, various technical indicators, and more. The MT4 trading platform is also fully customizable, allowing traders to easily tweak it to suit their individual trading preferences. It is designed for both beginners and advanced traders, thanks to its user-friendly interface.
The broker makes the MT4 available as a desktop application for Windows and Mac computers, a web trader, and a mobile app that is compatible with Android and iOS devices and can be downloaded from the respective app stores. The web version of the MT4 runs directly on modern web browsers, such as Chrome, Safari, Edge, and Firefox, without needing to download or install any additional software. The trading app is best suited for traders who wish to place trades and check trading positions while on the go as long as there is an internet connection.
Platform features
- Offers push alert notifications
- Multiple charts
- Allows various trading styles: hedging, scalping, and more
- Technical analysis on the charts with hundreds of indicators
- Nine different timeframes
- Multiple built-in indicators and analytical tools
- Trade automation using expert advisors
- Allows strategy back testing
- MQL4 programming language for creating custom indicators, scripts, expert advisors
- Live quotes
- Drawing tools
- View live account balances and order history
- Available in desktop, web, and mobile versions
- Support for one-click trading
MetaTrader 5
The MetaTrader 5 trading platform is another popular trading platform in the forex trading industry. The platform was also developed by MetaQuotes, the makers of the MT4 trading platform. It was launched in 2010 to make up for the essential features and functionalities that were lacking in the MT4.
The MT5 has more extended features and capabilities, such as 21 timeframes, expert advisors, multiple timeframes, and more. The platform is designed to provide traders with an enhanced trading experience, thanks to its selection of advanced trading functionalities, such as faster processing times, the ability to hedge positions, advanced pending order functionality, and more tools and indicators.
The broker presents the MT5 trading platform as a desktop application for Windows and Mac computers, WebTrader, and a mobile app that is designed for smartphone devices running on Android and iOS. The mobile app is best suited for traders who wish to access their trading accounts and place trades while on the move, provided there is an internet connection.
MT5 Platform features:
- Over 38 built-in technical indicators
- Offers built-in trading tools
- Faster trade processing times
- Fully customizable platform
- Maximum of 500 total orders
- Advanced pending orders
- Intuitive user interface
- Web, desktop, and mobile
- Hedging allowed
- Scalping allowed
- Trade automation using expert advisors
- Features 21 timeframes
- Depth of market pricing
Eurosocial Trading App
The Eurosocial is a proprietary trading platform that was developed by the broker’s team of fintech experts. It operates as a social trading platform, allowing users to connect, chat and train with the broker’s trading community. With the Eurosocial trading platform, traders can follow experts, show their moves, share their experiences, and learn in the process. It has a leader board that lists the traders at the top of their game. The notifications will alert you to every trade made so you can learn with every step. And the social icons help you connect, interact and grow your confidence.
The platform also allows traders to have all their trade executions in one place as they can easily purchase an asset class and monitor and analyse the performance of their open positions across their portfolios.
The Eurosocial trading platform is available as a mobile trading app that is compatible with Android and iOS devices. The mobile app can be downloaded from the relevant app store and used to place trades and check trading positions while on the go as long as there is an internet connection.
Eurotrader Platforms Summary
| Platform | Eurotrader |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary (Eurosocial) | ✓ |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other | x |
Tools
VPS Hosting
Eurotrader provides traders with reliable VPS hosting, which offers fast, flexible, safe, stable, and uninterrupted access to the broker’s trading platform. A virtual private server, or VPS, is a virtual computer you can access remotely and use as a private online dedicated server to get uninterrupted access to the broker’s trading platform. It allows for zero downtimes during the trading process. Hence, it is especially useful for traders who wish to run fully automated trading systems around the clock.
At Eurotrader, the VPS hosting service is free, subject to specific deposit and trading requirements. The minimum required for a free VPS is net deposits over 2,500 EUR/USD/GBP during the past 30 days. You can also get a free VPS from some other brokers including Blueberry Markets.
Trading Calculators
There is a good selection of various useful trading calculators on the broker’s website. These calculators help to ensure the ease of carrying out important trade calculations during the trading process. The trading calculators that are available at Eurotrader include the pip value calculator, margin calculator, profit and loss calculator, risk calculator, currency converter, and more.
Economic Calendar
The Economic Calendar is an essential research tool that shows the schedule of future market events and their expected impacts on the financial markets. It is undoubtedly one of the most useful research tools you should have in your arsenal. With it, you can track economic events and stay up to date with the latest market events, updates, and data releases affecting the financial markets.
Crypto Calendar
This is a trading calendar that is beneficial to crypto traders. It allows traders to watch the cryptocurrency listings, updates, and other events that will help you shape your crypto decision-making.
Trading Academy
The broker provides traders with a Trading Academy to help them get easy access to various learning resources. The trading academy is beneficial for traders of all levels of experience. It contains a good selection of trading guides, video tutorials, learning articles, and more. You will find a generous selection of in-depth basic and advanced eBooks on the Eurotrader Academy. The trading academy also covers a range of subjects, including a beginner’s guide to trading forex, learning the ropes of stock trading, introducing crypto trading, indices trading explained, and commodities trading inside out. These trading guides will be especially useful for those who are just starting their online trading journey and looking to improve their knowledge.
Eurotrader Blog
The broker’s blog contains several articles that are updated regularly. Therefore, you can dive into the latest trading insights and trends with the Eurotrader blog. Check out the Eurotrader blog for all the insights you need to help make better trading decisions.
Trading News
The trading news on the broker’s website is replete with some of the most recent news of economic events. It keeps traders aware of the events in the financial market, ensuring that traders do not miss any important market news for their fundamental analysis.
Eurotrader Research and Education Summary
| Resources | Eurotrader |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | x |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | ✓ |
| Other (VPS Hosting, Trading Calculator) | ✓ |
Eurotrader has a good choice of various deposit and withdrawal methods. The base currencies are the US dollar, British pounds, and Euros. The different currency options are beneficial as currency conversion fees do not apply when using an account in your currency.
To carry out deposit or withdrawal transaction on your Eurotrader account, you have to log in to your secure client area and navigate to the Funds Management tab to select either “Add Funds” or “Withdraw Funds” — depending on whether you want to carry out a deposit or withdrawal transaction. Then, you can choose your most preferred payment method from the range of available payment options.
The broker offers the following payment methods: bank transfers, credit cards, cryptocurrencies, and various e-wallets. While the broker does not charge any fees for deposits and withdrawals, some payment methods may come with small service fees. Also, the time taken to process transactions is dependent on the payment method in use. The minimum deposit required to start trading is $50 which is very reasonable although some brokers such as XTB let you get started with just $1.
Eurotrader Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | ✓ | ✓ |
Eurotrader is an online retail broker that is regulated in various jurisdictions:
- The European arm of the broker is operated by Eurotrade Investments RGB Ltd, a Cypriot Investment Firm (CIF) that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
- Eurotrade SA (Pty) Ltd is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa.
The broker’s regulation by the CySEC ensures its compliance with the rules and regulations laid down by the European Union’s Market of Financial Instruments Directive (MiFID II), which enables it to extend its service across Europe.
Eurotrader Regulation Summary
| Regulator | Eurotrader |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | ✓ |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other (FSCA) | ✓ |
Eurotrader Safety
Eurotrader is a transparent and trusted online trading broker. They ensure that every trade is secure and your money is safe. The broker is reputable and regulated in various jurisdictions. Their combined trading experience and support enable everyone to trade fairly, responsibly, and confidently.
In addition, the broker asserts that all client funds should be segregated, and adequate digital security is provided via secured socket layer (SSL) technology which encrypts all user data before transmission to the servers.
The broker provides traders with a knowledgeable client support team. The support team is always available 24/5 to respond to clients’ general, technical, and account-related inquiries. They can be reached via telephone, email, live chat, or various social media channels. I think they could improve by having 24/7 support like competitors such as FP Markets do.
Eurotrader is a multi-asset brokerage firm that has been in operation since 2018. They provide you with various competitive trading conditions, including tight spreads, commission-free trading, fast trade execution speeds, different account types, convenient funding options, and more. In addition to a top-class trading environment, Eurotrader also provides advanced trading platforms, educational resources, useful trading tools, and the services of a reliable client support team.
The broker is regulated by various financial authorities and allows clients to trade multiple financial instruments across different asset classes. The minimum deposit required to start trading is $50 or you could always practice trading on a free demo account to begin with.
