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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 / 1 REVIEWS ForexBrokerz ETO Markets
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Trading Accounts and Conditions

 

Account type Min. deposit Min. trade size Max. leverage Average Spreads (+Commission)
Standard $1000 0.01 1:400 0.2 pips + $5.5 / lot (round trip)
         

A newly-launched brokerage, ETO Markets offers its clients a single account type with raw spreads and some commission fee.

 

 

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<<

 

 

- Low trading costs

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 $5.5 per standard lot round trip. Actually, such trading costs are really low and attractive.

 

 

ETO Markets disdvantages:

 

- High initial deposit

 

 Most forex brokers ask for an initial deposit of $100 - $250, while clients of ETO Markets have to deposit at least $1000 in order to start trading. In our opinion, an initial investment of $1000 is quite high, even on the part of ASIC-regulated broker.

   

- Only bank wire payments

 

Besides, this brokerage uses only bank wire payments for deposits and withdrawal, which is a bit restrictive. Most CFD roviders also accept credit card and e-payment systems like Skrill, Neteller, etc.

 

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

No choice of trading platforms & account types

MT4 available

High initial deposit

High leverage levels

 No choice of payment methods

Many financial instruments

 

Transparent pricing, low trading costs

 

 

 

Latest news about ETO Markets
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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

Pros

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