eTrader Review For Beginners
A step by step tutorial on eTrader's offerings including their accounts, instruments, trading applications and more.
This Video Overview Includes:
📢 Trading products
📢 Account types
📢 Trading Platform
📢 Educational resources
📢 And more...
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0:28 Overview
4:08 Trading Platforms
5:31 Account types
7:21 Opening an account
8:31 Educational resources
9:22 Conclusion
Read our Video Script:
eTrader is a registered brand name of Goldenburg Group Limited, which is an established company that is regulated by the Cyprus Securities and Exchange Commission (CySEC). This broker offers competitive trading conditions on a variety of Forex pairs, Indices, Commodities and Shares and is a popular choice for CFD trading. As an eTrader client, you’ll have access to an economic calendar, live currency rates and powerful trading tools. If you are new to trading and you are considering opening an account with eTrader, we advise opening a demo account first as the minimum deposit required to trade with this broker may put your finances at risk.
eTrader offers a wide range of Forex pairs, Indices, Commodities and Shares. To view detailed contract specifications and find out more about the instruments you can trade with eTrader, an account must first be opened. Once you’ve opened an account, you will be able to access more information about the trading conditions offered from the client portal. By default, your trades can be leveraged by up to 1:30 when trading with eTrader, but professional traders are less restricted and are allowed higher leverage up to 1:100.
As an eTrader client, you can use MetaTrader 5, which is a popular platform that was released in 2010. MT5 has many advanced analysis tools, thousands of technical indicators, customisable charts, EA and algorithmic trading functionality. This platform can be downloaded for free from the official MT5 website and is beginner-friendly and suitable for all styles of trading, as well as automated trading and hedging. MT5 offers a high level of customizability and security and is also a great option for traders who are interested in automating their strategies. Overall, you will have access to more than 38 technical indicators, customizable charts, multiple order types and a variety of drawing tools.
There is one standard account that you can open with eTrader and this broker also offers a MT5 demo account. This account has negative balance protection, which ensures that you will never lose more money than the funds you have in your account and your account will never have a negative balance. eTrader offers floating spreads and at least $250 must be deposited to open an account with this broker. Your first deposit must be made via bank wire transfer, but after that, bank cards can be used and no deposit or withdrawal fees will be charged. If you are new to trading then we recommend practising on a demo account until you have a solid understanding of trading, as there are high financial risks to trading. Demo accounts are the safest way to trade for beginners and this account allows you to trade in a risk-free market environment using virtual funds.
As a trader or investor, having access to educational resources, research material and economic data is a key factor of success. This broker provides live currency rates and an Economic Calendar, which can be found under the “Analysis” tab. These tools will give you fundamental insights into global Employment Data, Retail markets and Consumer Price Index, economic activities and GDP levels, changes in Monetary Policies and updates on major events in over 70 Central Banks around the world. We also recommend bookmarking the “News” page to keep track of the latest economic events and market activity.
Overall, eTrader offers competitive trading conditions and seems safe and reliable - but opening an account is done entirely at your own risk and discretion. Remember that trading has high levels of financial risks and online markets are volatile, so remember to trade responsibly and only trust the advice of a professional advisor. We highly recommend reading over the terms and conditions of trading with any broker before making any financial commitments.
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