I found your entry interesting do I’ve added a Trackback to it on my weblog :)…

1) Imagine where the world would be if people actually had an idea what they were talking about? huh?
“I bet their spreads will be high”
Have you even checked? their spreads are 2 pips, and I don’t know about you but that’s one of the only platforms I know that offers such a spread on the EUR/JPY.
Next time do your reasearch…
2) Again, didn’t bother to have a look before coming to a “conclusion”, their leverage options are X100, X200 and X400.
3+4) I fail to see how “a little money in their account” is etoro’s fault, they don’t have a maximum deposit limit - if you want to deposit $10,000 I bet nobody’s gonna stop ya…BUT they offer to open an account with as low as $50, what’s wrong with that?

5) hmmm, you must have no clue about forex trading, you want to have a look at the deutsche bank board? with traders that have a balance of ” -$10,000,000,” ?
Even ( around 90% of ) pro traders lose money in forex, that means there is no reason for inexperienced traders not to give it a try - they can’t do any worse.

The problem with Forex is that people like you turn it into something dark and “magical”, that’s bullshit, they said the same thing about stocks a few years ago and today tons of people trade their own stocks without any help from a pro broker.

See you again in the next austin movie dr. evil…

Like gilltots (post #6) I really wonder if they will even take these trades to market. Why would they since they know that the vast majority (99%? 98%?) of their customers are guaranteed to loose their money. Here is why:

1) First off, there is no mention of their spreads. (I’m willing to bet the will be high).

2) Above all their leverage seems fixed at 400:1.
http://www.etoro.com/what-is-f.....lingo.aspx
That’s murderous. This means that the market has to move 0.25% to affect your position 100%. So the market will move a pip or two in the wrong direction and you loose all your money. The market moves several pips every few seconds. (At least etoro is responsible enough to post a warning that your losses can increase with a high leverage, in the last paragraph of that web page.)

3) The amount of money you can put in is way to low to trade at 400:1 leverage. You can open an account with $50, but the maximum you can put into your account each month is $10,000. So your account is automatically under capitalised for such a crazy leverage. So if you trade, you are more likely to loose in the long term.

4) With little money in the account you will not see a “big result” unless you “bet big.” Many customers will put most of their money on single trades (at least at the beginning) instead of putting in a safe 2% or 3% of their account. With such a high leverage they will be wiped out on the same day they open their account.

5) Do you want proof? Just look at the “Leader Board” results of the “Real Championships”
http://www.etoro.com/community/leader-board.aspx
The 10th highest – most profitable user – made only $77.77 in a month. That should tell you something. #1 made $1318 and #10 made $77. There’s a huge disparity there. Maybe there’s a reason for it. While you’re thinking about that, realize that if the 10th most profitable person made $77 in a month, it means that everyone else made less, or most likely lost money.

Caveat - If in fact it is possible to lower your leverage on etoro, then I certainly hope people will take advantage of that. (I have seen no evidence of this, and I am certainly not willing to give them any of my personal info to open an account.)

To sum up, Forex is a very risky investment. Put in only what you can afford to loose. I urge any first time traders to use a low leverage (like 25:1) and learn as much as you can.

Here is a great forex educational site:
http://www.babypips.com/school/

Look at their lesson entitled: “Leverage the Killer”
http://www.babypips.com/school.....iller.html

They have replied that RetailFX is a Non US broker and therefore, does not offer Real Money trading to US traders. They have also mentioned that starting next eToro WILL be offered to US traders via another certified US broker that is also regulated by NFA - IFX Markets.

I acn not wait to check it out on real money for the first time.

Let the Trade begin ….

FXMoneymaker

Hasn’t anyone read their terms and conditions that you agree to. Look under the promotion tab and then click the link:

http://www.retailfx.com/terms.aspx

“IMPORTANT NOTE - GRANOLA HOLDING LTD DOES NOT ACCEPT ANY TRADING FROM CUSTOMERS IN THE USA”

I thought this was legitimate!?

@46: I just talked to my brother that lives in South Africa, he said he uses telkom and that it works.

Cheers,
Andy

http://www.floraltopia.com - a social network for flower, plant, and garden people.

But in the last few years I’ve seen a big push to get individuals into this market. Just google “forex” and you’ll see what I mean.

It’s cool that almost the all front page on Techcrunch is dedicated to Israel today: E-Toro, Yossi Vardi’s investments in SeeToo and AllofMe and Google Israel privacy issues. Not bad for such a small country.

I’d like to invite everyone to visit the Venture Capital Cafe (http://www.goisrael.blogspot.com >>> in process of moving to http://www.vccafe.com, so please bare with me) where I cover early stage companies, innovative technologies, and venture capital news with a spotlight on Israel.

If you follow the Israeli market, take a moment to subscribe - a lot of interesting developments are going up in December. Also,if you are a developer/designer in Israel looking for an interesting project, leave me a comment on the blog.

Thanks for the post!
E

Thanks for your comments!

eToro was very adamant in not wanting to come-off as a gaming operator and I felt the final two points about it being a BVI company and the affiliate program were two additional counter-arguments.

True, off-shoring is not unique these days. However, when you look at eToro’s activities from 10,000ft, it comes as no surprise that they would go that route. And like it or not, it’s a staple gaming operator move.

You are absolutely right about the popularity of affiliate marketing. The point I was trying to make there was the *wording* rather than the program itself. If you go to any gaming operator’s affiliate program you’ll notice what I mean.

Thanks again for commenting!

R.

Someone how cares…….

Neither is playing the stock market but thousands lose their shirts each day doing exactly just that!

This is dangerous!

http://fakesteveballmer.blogspot.com