General Information & Regulation
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, Middle East, Africa, Oceania, etc. Please note that their services are not available in North and South America.
Concerning regulation, ETO GROUP PTY LTD is authozed 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.
Pros & Cons of ETO Markets
Some advantages and disadvantages of XM are clearly listed below:
Market Instruments
The ETO Markets online broker provides traders with over 80 currency pairs, including foreign currency pairs, CFDs, spot index contracts, spot commodities.
Account Types
TO Markets offers two type of accounts, namely a standard account and a pro account. The standard account is meant for beginner and more casual traders, whereas the pro account is targeted at professional traders.The standard account features higher spreads than the pro account, which start at 1.6 pips. Keep in mind, though, that they do not charge a commission per trade.The minimum deposit is $200 USD or equivalent in AUD or EUR, while the maximum leverage is 1:400. The minimum trading volume is 0.01 lots.The pro account, on the other hand, features much lower spreads, with some being as low as 0 pips, like on the EUR/USD. However, there is a commission of $7 USD per round trade. In addition, ETO Markets also offers free demo accounts.
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
To some, the fact that ETO Markets, an online broker, only provides access to MetaTrader 4 as a trading platform is a negative aspect of the service. H owever, it's more than adequate because it's the best trading platform available.
Although the learning curve may seem steep at first, the software is actually very user-friendly once you get the hang of it. In addition to its adaptability, it offers a wealth of trading tools, including as automatic and one-click trading, a plethora of indicators, and much more.
You can make your own indications if you don't think the pre-made ones are enough. Freelancers are many and ready to assist you if you feel uneasy about coding the indications on your own. You probably won't have to worry about this for a while, especially if you're just starting out, because MT4 comes with hundreds of free indicators. MetaTrader 4 gives you complete control over your trading environment and includes all the charting tools you'll ever need. MetaTrader 4 allows you to do everything from draw support and resistance lines to add indicators like the stochastic oscillator, the RSI, the MACD, the ATR, and many more with only a few clicks. It has quickly risen to prominence among traders for good cause.
If you trade with ETO Markets, you can take MT4 with you on the road with their mobile app. Among its many features are support for all possible order types and execution modes, graphical representations of data, 30 of the most widely used indicators, 24 analytical objects, and much more. Keep in mind that you can trade whenever you choose thanks to ETO Markets' MT4 platform, which is available for Windows and Mac as well as Android and iOS.
Deposit & Withdrawal
ETO Markets supports traders to deposit and withdraw funds from their accounts via (VISA & MasterCard) credit/debit cards, wire transfer, Skrill, POLi, and in three currencies - AUD, USD, and EUR. In addition, ETO Markets offers a deposit method: China UnionPay card, although this method is only available for RMB. The deposit method and withdrawal method must be the same, with a processing time of 1-2 days and a clearing time of 2-3 days, and ETO Markets says it does not charge any withdrawal or deposit fees.
Customer Support
The ETO Markets customer service team is available Monday through Friday from 9am to 5pm (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. An 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 Markets doesn't appear to have much to offer in the way of education at first sight, with only a few suggestions and a glossary being made available to visitors to their website. However, once you upgrade to a real account and gain access to the client portal, everything will shift. Clients of ETO Markets have access to a wealth of online educational resources. To ensure that all students may gain as much as possible from learning how to trade forex effectively, they provide demo videos and keep class numbers small. This means that you will not only acquire fundamental knowledge, such as chart reading, but also more sophisticated information, such as a wide range of trading strategies and approaches. Learn how to trade after going through all of the resources provided by ETO Markets. However, remember that in order to reduce potential loss, you should first put your trading skills and expertise through their paces on a trial account.
2022-12-10 05:11
2022-12-02 17:45
