If you Google for ‘forex trading’ you may find plenty of online forex trading platforms. I found that eToro was pretty good due to the following reasons:
- You can open an eToro forex trading account with as low as $50 initial deposit
- On top of your first time deposit (FTD) they will add a welcome bonus of 25%. i.e. if you start an account with $1000, they will add $250 and hence you are already starting on profit. The bonus has a cap of $1000 (There are companies who give even 100% bonus but beware of their hidden costs)
- No hidden costs or brokerage charges
- You get a personal account manager (PAM) assigned to you if you start an account with at least $500. This means that you will get regular phone calls on trading ideas based on global economic and forex news
- Leverage up to 400 times and it allows micro-lots (see Forex terminologies below)
- eToro provides an excellent web based trading tool as well as a fast desktop based trading tool
- You can add or withdraw funds via PayPal. This may be one of the major criteria for bloggers who already have their blog income in PayPal. Many other platforms don’t support PayPal transfer
- Excellent customer support – via phone, email as well as live chat
- The practice account to get used to forex trading is very good and uses realtime data
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