Overall, eTrader can be summarised as a credible and trustworthy broker and is considered low-risk with low spreads and generous leverage. eTrader has an overall trust score of 80 out of 99. eTrader offers cross-border services to member states.
eTrader At a Glance
| Broker’s Name | eTrader |
| ?️ Headquarters | Limassol, Cyprus |
| ? Year Founded | 2014 |
| ⚖️ Regulating Authorities | The Cyprus Securities and Exchange Commission (CySEC) |
| ? Countries not accepted for trade | The United States |
| ? Accounts | Standard Account |
| ☪️ Islamic account (swap-free) | No |
| ? Demo Account | Yes |
| ✴️ Institutional Accounts | Yes |
| ??? Managed Accounts | Yes |
| ⬆️ Maximum Leverage | 1:200 |
| ? Sign Up Bonus | No |
| ? Minimum Deposit | $250 USD / R 4000 ZAR |
| ? Spread | up to 3 pips |
| ?Fees | No Deposit or withdrawal fees |
| ? Deposit Options | Visa, MasterCard, Bank Transfer and DotPay |
| ? Withdrawal Options | Wire Transfer |
| ? Platform Types | MetaTrader5 |
| ? OS Compatibility | Yes, Desktop and PC |
| ? Tradable assets offered | FX currency pairs, CFDs, precious metals, energies |
| ? Languages supported on Website | English, Arab, Hungarian, Greek, Spanish, Italian, Chinese, Deutsch, Polish, Russian, Slovenian, French, Czech |
| ? Customer Support Languages | English, Arab, Hungarian, Greek, Spanish, Italian, Chinese, Deutsch, Polish, Russian, Slovenian, French, Czech |
| ⏲️ Customer Service Hours | 24-hours per day, seven days per week |
| ? Open an Account | ? Click Here |
Choose your quick section of our eTrader below.
eTrader review – 19 key point quick overview:
eTrader At a Glance- eTrader Overview
- eTrader Safety and Security
- eTrader Sign-Up Bonus
- eTrader Minimum Deposit
- eTrader Demo Account
- eTrader Leverage
- eTrader Accounts
- eTrader Market instruments
- eTrader Fees, Spreads & Commissions
- eTrader Deposit and withdrawal
- eTrader Trading platforms
- eTrader Current Popularity Trend
- eTrader vs Exness vs XM – a Comparison
- eTrader Customer Reviews
- eTrader Pros and cons
- eTrader Conclusion
- eTrader Disclaimer
- Frequently Asked Questions
eTrader Overview
According to research in South Africa, eTrader is an online Forex and CFD broker which was founded in 2014.
eTrader is one of the trading names of Goldenburg Group Ltd., which also operates as FX Global, TopForex, TradeCentrum, social trading brand TopTrader, and binary brand Top Binary, among others.
eTrader is required to hold at least €730 000 (as proof of financial stability) and maintain it. Client funds must be held in segregated accounts and regulated entities are required to then report to the Commission on a regular basis.
eTrader Safety and Security
One of the best benchmarks to measure the safety of a broker like eTrader, is to establish which regulating authorities are watchdogs over its actions.
eTrader is regulated by the Cyprus Securities and Exchange Commission (CySEC).
eTrader Sign-Up Bonus
eTrader does not offer new traders a sign-up bonus or also known as a welcome bonus when signing up.
eTrader Minimum Deposit
| ⭐ Features | ℹ️ Information |
| ? Minimum Deposit | $250 USD / R4000 ZAR |
| ? Average spreads from | From 0.0 pips to 3 pips |
| ? Deposit / Withdrawal fees | None |
| ? Maximum leverage | 1:200 |
| ? Bonus | none |
| ☎️ Customer support | 24/5 |
The minimum deposit amount required to register an eTrader trading account is $250. This minimum deposit is equivalent to R4000 ZAR at the current exchange rate between the South African Rand & United States Dollar.
eTrader Demo Account
eTrader does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The eTrader demo account does not have a specific expiry date.
eTrader Leverage
Leverage is a facility that enables you to get much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit but also increase your potential loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
For example, on a 1% marginal position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.
eTrader offers a maximum leverage ratio of 1:200.
eTrader Accounts
| ?Feature | ? Standard Account |
| ? Minimum Deposit | $250 USD / R 4000 ZAR |
| ? Spreads | from 0.0 pips to 3 pips |
| ? Fees | No Deposit fees / No withdrawal fees |
| ? Leverage | 1:200 |
| ? Open an Account | ? Click Here |
A forex account at eTrader is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.
Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.
Often, the number and type of accounts that a trader can open with a broker differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.
eTrader offers only one account type, it should, however, meet the needs of most traders:
- The Standard Account – this account has a minimum deposit requirement of 250 USD; the maximum leverage is up to 1:200 and the fixed spread amounts to 3 pips.
How to open an eTrader account
1. Step 1 – Register an account
Navigated to the eTrader website home page and select the Login option and then select register.
2. Step 2 – Complete personal information
Complete all the personal information requested and select the button for “Futher personal information”. Complete all the personal information and account will be registered.
3. Step 3– Account Verification
Verifying account email will be sent to traders registered email address and once all documentation for “KYC” has been sent the account will be verified.
eTrader Market instruments
The most popular market instruments available from most brokers for trading include:
Forex:
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodities:
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management.
Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices:
Equity, or stock indices, is actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.
Precious metals:
The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy:
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.
eTrader offers the following from the above:
eTrader Fees, Spreads & Commissions
Cost depends on different factors, like spread and margins, and eTrader clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.
eTrader offers fixed spreads of 3 pips, a pip higher than most of its competitors.
eTrader does not charge any commissions on trades.
eTrader Deposit and withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be made through the same avenues as deposits, but this may differ from one broker to the next.
eTrader requires a minimum deposit of 250 USD and offers the following methods through which deposits and withdrawals can be made:
- Visa
- Mastercard
- Bank Transfer, and
- DotPay
It should be noted that eTrader does not accept cash deposits and withdrawals can only be done through Bank Transfer.
eTrader Trading platforms
The forex trading platform provided by eTrader is the software to carry out trades. Some brokers provide only one trading platform whereas others offer several.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
eTrader provides its clients with the extremely popular MetaTrader5 platform through which trades can be executed.
MetaTrader 5 is just a more updated version of MetaTrader 4. It targets a wider range of functionalities including connection to exchanges and it has better flexibility in support and configuration. It also features other asset classes in addition to forex.
eTrader Current Popularity Trend
According to Google Trends, here is an overview of how frequently the search term – “eTrader” is entered into Google’s search engine over a given period of time.
eTrader vs Exness vs XM – a Comparison
| ? Broker | ? eTrader | ? Exness | ? XM |
| Established | Established in 1996 | Established in 2008 | Established in 2009 |
| ? Min. Deposit | $250 USD / R 4000 ZAR | $1 USD / R16 USD | $5 USD / R80 ZAR |
| ? Inactivity Fee | No | Yes | Yes |
| ☪️ Islamic Account | ? No | Yes | Yes |
| ? Demo Account | Yes | Yes | Yes |
eTrader Customer Reviews
Is an excellent source of information…
Is an excellent source of information for trading.
Thank you so much for communicating with…
Thank you so much for communicating with me and also thanks for advising me to send my documents correctly.
eTrader Call
I got a call today from an eTrader counselor. He was very amicable throughout the interaction and offered help and assistance to any questions or concerns that I may have about the system and the service.
eTrader Pros and cons
| ✔️ Pros | ❌ Cons |
| Well-regulated | High fixed spread |
| Commission free trading | Only US markets, no forex |
| High leverage | Only bank transfer |
| Low trading fees (free stock and ETF trading) | Slow live chat |
| User-friendly mobile trading platform | |
| Great research tools |
eTrader Conclusion
eTrader can be described as a broker which offers a decent trading environment; the no-commission trading is attractive, but its high spreads are not.
eTrader offers the use of MetaTrader5 which is a popular and powerful trading platform. Traders are offered a decent amount of tradeable assets and leverage that is high enough that it should be beneficial to any trading strategy.
eTrader Disclaimer
eTrader warns potential customers that Forex and CFDs trading carries a high risk and may not be suitable for all investors.
Before deciding to trade with eTrader, potential traders are advised to carefully consider their investment objectives, financial situation, needs and level of experience before investing money they cannot afford to lose.
eTrader warns that margin trading involves the potential for profit as well as the risk of loss.
Movements in the price of foreign exchange and commodities are very unpredictable, hence eTrader cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
Frequently Asked Questions
Is eTrader a fake or scam broker?
No, eTrader is not a scammer as it is regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF licence no 242/14.
What is the rating for eTrader out of 10?
The overall rating for eTrader is 8/10.
How many instruments can I trade with eTrader?
You can trade a number of different instruments with eTrader, which includes the following:
- FX currency pairs
- CFDs
- Precious metals
- Energies
What are the deposit methods for eTrader?
eTrader offers the following deposit methods:
- Visa
- Mastercard
- Bank Transfer, and
- DotPay
Does eTrader have a demo account?
Yes, eTrader does have a demo account.
Featured SA Shares Writer and Forex Analyst.
Discussion about this post