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Abstract:Founded in 2010, ETO Markets is a forex and CFD forex broker based in Sydney, Australia, providing online solutions for retail and institutional investors in over 100 countries in Europe, Asia, the Middle East, Africa, Oceania, etc.
About ETO Markets
Founded in 2010, ETO Markets is a forex and CFD forex broker based in Sydney, Australia, providing online solutions for retail and institutional investors in over 100 countries in Europe, Asia, the Middle East, Africa, Oceania, etc.
Concerning regulation, ETO GROUP PTY LTD is authorized or regulated by the Australian Securities and Investment Commission (ASIC); ABN 66 155 680 890, AFS Licence No. 420224, and ETO Markets Limited is authorized and regulated by The Seychelles Financial Services Authority (FSA), with regulatory license no. S062.
Is ETO Markets Legit?
Based on the information provided, ETO (ETO GROUP PTY LTD and ETO Markets Limited) is regulated by different regulatory agencies in different jurisdictions. ETO GROUP PTY LTD, based in Australia, is regulated by the Australia Securities & Investment Commission (ASIC). It holds a Market Making (MM) license, with license number 420224. The effective date of the license is February 1, 2013. The address of the licensed institution is 02 Tower B Citadel Towers' Suite 12 Level 12, 799 Pacific Highway, CHATSWOOD NSW 2067, Australia. The phone number is 0407 204 611. However, no website is provided for ETO GROUP PTY LTD.
On the other hand, ETO Markets Limited is also regulated by the Seychelles Financial Services Authority (FSA). It holds a Retail Forex License with license number S062. The regulatory status is described as “Offshore Regulatory.” The address of the licensed institution is Office No. 20, First Floor, Abis 1, Abis Centre, Providence Industrial Estate, Mahé, Seychelles. The phone number is +248 4374772. The email address is info@eto.group, and the website is https://www.eto.group.
Market Instruments
ETO offers a diverse range of market instruments for trading on its online platform. These instruments cover various financial markets and asset classes, including:
1. Forex: ETO provides access to the foreign exchange market, which is known as the world's most liquid market. Traders can engage in forex trading with leverage of up to 1:500. ETO offers a wide range of currency pairs, including majors, minors, and exotics, with lower commissions.
2. Precious Metals: ETO allows trading in major commodity markets by offering precious metals such as Gold and Silver. These metals are considered valuable assets due to their high economic value and durability. Traders can take advantage of price movements in precious metals markets through ETO's platform.
3. Energies: ETO provides access to energy products such as WTI (West Texas Intermediate) crude oil, Brent crude oil, and Natural Gas through CFDs (Contract for Difference). Traders can benefit from low spreads, and 24-hour market executions in the energy market.
4. Indices: ETO enables trading on significant stock market indices worldwide. Traders can utilize leverage of up to 1:500 without any commission charges. This allows them to participate in the price movements of major stock market indices and potentially capitalize on market opportunities.
Account Types
PRO ACCOUNT
PRO account offers spreads starting from 0.0 pips. The minimum deposit required is USD 100, allowing accessibility for traders with varying budget sizes. The minimum trade size is 0.01 lot. With a maximum leverage of 1:500, traders can amplify their trading potential. The PRO account does not have a stop-out level.
BASIC account
offers spreads starting from 1.0 pips, providing reasonable pricing for trading. The minimum deposit required is USD 100, making it accessible to a wide range of traders. The minimum trade size is 0.01 lot. The maximum leverage offered is 1:500, enabling traders to maximize their trading opportunities. Similar to the PRO account, the BASIC account does not have a stop out level.
PRIME ACCOUNT
The PRIME account caters to traders who prioritize a balance between cost and trading conditions. It offers spreads starting from 1.7 pips, providing a reasonable pricing structure for trading. The minimum deposit required is USD 100, making it accessible to traders with different levels of capital. The minimum trade size is 0.01 lot. The maximum leverage offered is 1:500, providing traders with the potential to magnify their trading positions. As with the other account types, the PRIME account does not have a stop out level.
STD ACCOUNT
Lastly, the STD account is specifically tailored for traders interested in trading XAU/USD (Gold). It offers spreads starting from 1.7 pips for general trading pairs and 2.9 pips for XAU/USD. The minimum deposit required is USD 100, making it accessible to traders with varying budget sizes. The minimum trade size is 0.01 lot. The maximum leverage offered is 1:500, allowing traders to amplify their trading potential. Similar to the other account types, the STD account does not have a stop-out level.
Leverage
The maximum trading leverage offered by ETO Markets is up to 1:400. Investors should note that high leverage can increase the potential return but also increase the risk at the same time.
Spreads & Commissions
On a Standard account, spreads begin at 1.6 pips, which is a bit more than typical. The EUR/USD, GBP/USD, AUD/USD, and USD/JPY all have a spread of 1.8 pips, while the USD/CAD and USD/CHF have a spread of 2.2 pips.
On the Professional account, spreads are significantly reduced, with some as low as 0 pips, especially for currency pairs with a high trading volume. Thus, the EUR/USD, GBP/USD, and USD/JPY all have a spread of 0 pips, while the AUD/USD spread is 0.3 pips, the USD/CHF spread is 0.2 pips, and the USD/CAD spread is 0.4 pips. Consider, however, that there is a $7 commission every round deal, which is the reason for the low spreads.
Trading Platforms & Tools Available
ETO offers various trading platforms to cater to the diverse needs of traders. Here's a brief description of each trading platform:
1. Meta Trader 4 (MT4): MT4 is a widely recognized and popular trading platform that supports online trading through web pages, PCs, and mobile phones. It offers a comprehensive range of features and tools, making it suitable for both novice and experienced traders. MT4 provides a user-friendly interface, advanced charting capabilities, a wide range of technical indicators, and automated trading options.
2. Meta Trader 5 (MT5): MT5 is an advanced trading platform that provides market direction and data analysis to assist investors in making informed trading decisions. It offers enhanced features compared to MT4, including additional charting tools, more timeframes, and improved analytical capabilities. MT5 allows traders to access a variety of financial markets and trade anytime, anywhere, ensuring they don't miss any trading opportunities.
3. PAMM: PAMM (Percentage Allocation Management Module) is a solution designed for money managers. It enables them to manage funds across multiple client accounts using a single master account and interface. PAMM allows money managers to allocate and distribute investments, track performance, and execute trades on behalf of their clients.
4. Social Trading: ETO offers social trading, which is a form of investing that allows traders to copy investment strategies from others. It is suitable for individuals who don't have the time or expertise to analyze the markets extensively or identify trading opportunities. With social trading, traders can follow and replicate the trades and strategies of successful traders, leveraging their knowledge and experience.
Deposit & Withdrawal
To deposit funds into your ETO Markets account, you need to log in to the ETO Markets Portal and select 'My Account' or click the 'Deposit Now' button on the top-right corner of the page. From there, you can choose your preferred payment method by clicking on the corresponding icon. The available payment methods include Bank Wire Transfers (USD), China Union Pay (CNY), SEA Instant Payment (IDR, MYR, THB, VND), SEA Internet Banking (IDR, MYR, VND), and Cryptocurrency (USDT).
Customer Support
The ETO Markets customer service team is available Monday through Friday from 9 am to 5 pm (Sydney time) via phone, live chat, and email. The team is comprised of individuals with a strong financial background, so they can assist you with a variety of concerns. This is undoubtedly one of the reasons why this e-commerce website has an excellent reputation for customer service. There are few FAQs and tutorials available on the trade website, and they will not be of much assistance.
Educational Resources
ETO provides a range of educational resources to support traders in their learning and development. Here's a brief description of each educational resource:
1. TRADING GUIDES: ETO Markets offers educational videos called Trading Guides. These videos focus on providing instruction and guidance on how to navigate and utilize the Meta Trader 4 (MT4) trading platform. They are particularly beneficial for new traders who are learning to use MT4 and want to understand its features and capabilities. Even experienced traders can benefit from these guides to learn new strategies or enhance their skills.
2. ETO BLOG: ETO Markets maintains a blog that offers weekly reports and interviews. The blog serves as a valuable resource for traders seeking market intelligence and real-time market positioning ideas. Through the blog, traders can access in-depth analysis, stay updated with market trends, and gain insights from industry experts. It provides a platform for traders to deepen their understanding of the financial markets.
3. TRADING WEBINARS: ETO Markets conducts trading webinars led by experienced traders or financial professionals. These webinars cover various topics such as technical analysis, risk management, and trading strategies. Webinars provide valuable insights and practical knowledge to enhance trading skills and decision-making abilities.
These educational resources offered by ETO aim to empower traders with knowledge, skills, and market insights. Whether traders are beginners or experienced professionals, these resources can support their learning journey and help them make informed trading decisions. It's recommended to explore the specific offerings and availability of these educational resources on the official ETO website.
Customer Support
ETO Markets provides customer support services to assist traders with their inquiries and concerns. The customer service team is available Monday through Friday from 9am to 5pm (Sydney time) and can be contacted via phone, live chat, and email. The team consists of individuals with a strong financial background, ensuring they can provide knowledgeable assistance across a range of trading-related matters. ETO Markets has gained a reputation for excellent customer service, which contributes to its positive standing in the industry. While the trade website offers limited FAQs and tutorials, direct contact with the customer support team is the recommended approach for personalized assistance. The contact details for customer support include the email address info@eto.group, the phone number +248 4374772, and the physical address F20, 1st Floor, Eden Plaza, Eden Island, Seychelles. Additionally, customers can follow ETO Markets on various platforms to stay updated with the latest information and developments.
Conclusion
ETO Markets is a regulated brokerage offering a range of advantages and disadvantages. On the positive side, ETO Markets is regulated by the Australia Securities & Investment Commission (ASIC) and the Seychelles Financial Services Authority (FSA), providing a level of oversight and accountability. They offer a diverse range of market instruments, including forex, precious metals, energies, and indices, allowing traders to diversify their portfolios. ETO Markets provides different account types to cater to the needs of various traders, with leverage options of up to 1:500. They offer popular trading platforms like MetaTrader 4 and 5, as well as PAMM and social trading options. ETO Markets also provides educational resources such as trading guides, a blog, and webinars to support traders' learning and development. On the negative side, being regulated offshore by the FSA may be seen as a disadvantage compared to stricter regulatory jurisdictions. The website lacks detailed information and transparency on some aspects, and customer support may be limited to specific hours. Traders need to conduct their research, consider their risk tolerance, and understand the advantages and disadvantages before engaging with ETO Markets or any brokerage.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.