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ETO Markets Review - is it scam or safe?

ETO Markets Review - is etomarkets.com scam or good forex broker?

RATING: 2.9 / 0 REVIEWS ETO Markets
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Trading Accounts and Conditions

 

Account type Min. deposit Min. trade size Max. leverage Average Spreads (+Commission)
Standard $200 0.01 1:400 from 1.6 pips
Pro $20 000 0.01 1:200 0.2 pips + $7 / lot (round trip)

 

A newly-launched brokerage, ETO Markets offers its clients two account types: a Standard one intended for beginner and regular traders, as well as a Pro account for professional forex players. The Standard account is commission-free with higher spreads, while the Pro one provides row spreads and involves commission.

 

 

ETO Markets Advanatges:

 

- Regulated by ASIC (part of the eToro group?)

Headquartered in Sydney, Australia, ETO Markets is regulated by the Australian Securities and Investment Commission (ASIC), a reliable governmental agency that applies strict requirements to companies under its supervision. When we checked this information in the ASIC registers, we saw that the previous name of the company owning the broker is eToro Group Pty Ltd. Although this is not explicitly stated on ETO Markets’ website, the broker may be a part of the eToro group, one of the first and largest social trading brokerages licensed by FCA and CySEC.

 

 (Click to see larger image.)

 

So, it seems that ETO Markets is a reliable and regulated brokerage.

 

- MT4 available

ETO Markets offers its services via the widely used MetaTrader 4 platform (a.k.a. MT4). It has proved to be a good and reliable trading platform with solid charting and automated trading options, and if you are good with coding, you can create your own indicators, EAs, etc. So, no wonder more than 80% of all forex brokers support the MT4.

 

- High leverage levels

Leverage levels provided by ETO Markets are high, reaching 1:400. although this is considered a rather high leverage rate, most forex brokers provide similar or higher levels. If you are sure you understand the risks involved in margin trading, check out our

 

 

>>List of brokers offering leverage of 1:500 or higher<<

 

 

- Spreads on demo accounts in line with announced ones

A lot of forex brokers claim to provide tight spreads or commission-free trading, but when we try out their platforms, the situation appears rather different and not so appealing. However, this is not the case with ETO Markets. We tested the Pro demo MT4 account and spreads are averaged 0.2 pips on EUR/USD, with commission of $7 per standard lot round trip.

 

 

 (Click to see larger image.)

 

- Numerous currencies and payment methods accepted

ETO Markets accepts deposits in AUD, USD, as well as onshore CNY. It supports many payment methods: Credit/Debit cards, Bank wire, China UnionPay, Skrill, and Neteller.

 

 

ETO Markets disdvantages:

 

- Spreads on Standard accounts above the average

Although the transparent cost of trading at ETO Markets leaves a good impression, the trading conditions on its Standard account types are not so good.Spreads on EUR/USD starts out at 1.6 pips, while most brokers offer spreads within the 1.0 – 1.0 pips range for this pair. For example, global broker XM (holding an ASIC license among others), offers an average spread of 0.1 pips on EUR/USD, plus a commission $10 per standard lot (round trip).

 

 

>>Compare the real-time spreads of top brokers<<

 

 

Conclusion

 

ETO Markets offers online trading in more than 70 currency pairs, as well as CFDs on commodities, indices and stocks on the popular MT4 platform. It offers its services Although its services across Europe, Asia, the Middle East, Africa and Oceania.

 

What we like best with ETO Markets is the fact that its is authorised by ASIC and that it has a clear and transparent pricing. On the other hand, its spreads on the more accessible accounts are not very competitive.

 

>>Top forex brokers in Australia<<

 

 

Here are, once again, the strong and weak sides of this broker:


Pros

Cons

Regulated by ASIC

Spreads above the average

MT4 available

No choice of trading platform

High leverage levels

 

Many financial instruments, payment methods and currencies

 

Transparent pricing

 

 

Latest news about ETO Markets
No news about ETO Markets. Check back later.
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Traders` reviews for ETO Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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