• See for yourself how the million members of eToro’s community are trading right now
• Follow the strategies of the top traders and spot new trading opportunities for yourself
• Copy any trade that you want to, at the click of a button

OpenBook can help countless traders transform their trading for the better.

OpenBook is a giant leap forward for social trading communities because it lets traders interact with each other as never before and use their interaction to deliver real benefits to their trading: live and in real time. Traders can use the OpenBook to share information and tips with each other and to learn new and better approaches to trading. By interacting across the OpenBook network with experienced traders, even absolute beginners can put the knowledge of experienced traders to work in their own trading.

]]> http://forexmarkettrends.com/introducing-etoro-a-one-of-a-kind-social-trading-network/feed/ 0 http://forexmarkettrends.com/etoro-snags-a-world-finance-award-for-most-innovative-trading-platform-2010/ http://forexmarkettrends.com/etoro-snags-a-world-finance-award-for-most-innovative-trading-platform-2010/#comments Wed, 28 Mar 2012 19:39:54 +0000 admin http://forexmarkettrends.com/?p=2878 The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

eToro‘s innovative approach to financial trading has been making waves for quite some time now among traders worldwide. The platform’s user friendly graphic interfaces and wide range of ground breaking community tools have captured the attentions of novices and experts alike, who now take part in eToro’s vibrant and active social trading network. With its open and daring approach, eToro has now managed to not only become one of the most popular trading platforms online, but to also receive a seal of approval from an already established financial institution.

“Our vision is to become the first global market place for everyone to trade and invest their funds in a simple and transparent way”, said eToro CEO, Johnathan Assia. “eToro already transformed the way people trade today, and we thank our community of over a million traders for helping us win this award that recognizes eToro’s achievements in the financial trading arena”

World Finance magazine launched its annual World Finance Awards in 2007 with the goal of identifying industry leaders that represent the benchmark of achievement and best practice in the financial and business world. To determine the winners, World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace.

“We couldn’t be more thrilled and honored to win this particular award,” said Assia. “To know that our platform was nominated and then chosen out of the hundreds of nominations is a sign that we must be doing something right. It is especially rewarding to know that our push towards innovation, which has been one of eToro’s core values from the start, hasn’t gone unnoticed. The challenge now is to keep innovating so we can have a shot at next year’s award as well!”

As for eToro’s community, they will certainly be thrilled to know that their platform of choice is leading the way in cutting edge trading technologies, and intends to continue to do so for years to come.

Open a free trading account with eToro to explore the benefits of financial trading.

Of course, you still maintain full control over your trades. All the parameters are completely transparent, starting with the spread and ending with the percentage of your balance that is invested in each trade. Don’t like the way a trade is going, or want to capitulate on the profit right away? There’s no need to wait for your trader to make a move – you can close a trade or edit the stops whenever you want. And if a trader’s strategy is not working for you in general, it only takes one click to detach yourself from him or her.

The ultimate goal, as you can probably imagine, is to assemble a dream team of diverse traders who you can copy indefinitely and then simply watch your profits accumulate. Unlike forex robots or paid traders, the traders you copy through CopyTrader have no agenda other than to make profits for themselves, so you never have to worry about them mismanaging your funds. In addition, for the sake of promoting responsible trading, CopyTrader only lets you set aside a maximum of 20% of your account for copying any one trader, to ensure the diversity of your trading portfolio.

eToro also intends to launch a Guru reward program in the very near future, to compensate traders with a large following for all the benefits they bring to the eToro trading community.

CopyTrader is now available on eToro’s social trading network. Click here to check it out now!

About eToro

eToro is the world’s largest investment network, with over 1.5 million users in over 130 countries and thousands of new accounts opened each day. Through its community powered network eToro leads the social trading revolution, which enables every investor to see, follow and automatically copy the actions of other investors in real time.

eToro’s mission is to open the financial markets to every individual and make them accessible through a simple, transparent and more enjoyable way to trade currencies, commodities and indices online. Based on a wide range of innovative web-based and mobile trading platforms that appeal to every level of trading expertise, eToro’s investment network facilitates information exchange between investors, accelerates knowledge sharing and shortens the learning curve for those who want to bring their trading experience to the next level. For more information, visit us at www.etoro.com.

eToro’s advantages include:

• Social trading network – including the groundbreaking CopyTrader feature
• Simple visual web based trading platform
• Free unlimited demo account with live market rates
• Public and private chats
• Prize bearing trading challenges
• Flexible leverages ranging from 1:2 to 1:400
• Fixed spreads as low as 2 pips
• Free educational tools, including specially developed forex trading e-course
• Live streaming news and market updates
• 24/5 professional support and account managers
• Four tier VIP account program
• Starting bonus of up to $10,000

To find out more about eToro and to open your free account, click here.

Forex is built and supports all international currencies. Wherever there is an exchange rate there is money to be made! If you wish to learn Forex you will need to get an idea of other countries economic and finacial situations as well as the other country you have paired your exchange with. You will need to learn what influences the exchange and teach yourself to trade in your favor before money is lost. It sounds complicated at first, as anything is but once you get the hang of it you will soon be cursing for not having money invested because you saw a good trade a mile off.

Popular forex trades are made up from these listed currencies. Anything paired will make up a foreign exchange: USD, EUR, GBD, CAD, AUD, NZD, JPY, CNY, HKD, SGD, CHF, DKK & NOK

Forex possesses a big role to global industries and can seriously effect the import / export price of goods. Imagine thinking you got a great deal shipping in millions dollars worth of stock from China only to find the Chinese yen has strengthened. So rather than spending your cool million dollars you are now forking over $1.3 million for the exact same stock! This alone turns many deals sour but nevertheless when exchanges are in your favor big companies make sure they get their orders in.

According to record, United Kingdom gains the biggest turnover in the foreign exchange market. It acquires 36.7% of the $3.98 trillion average daily earnings as of April 2010. In return, the country is recognized as the most important center for FOREX trading.

So how can this effect you and how can you earn money from Forex?

Thankfully right in front of you and guided by the best knowledge, systems and trading platforms the internet brings this industry right into the comfort of your own home. No longer do we need millions of dollars for trading. Competition over the years has brought the Forex Market to the Average Joe with minimum and comfortable start up options. Afraid of loosing your hard earned? No worries – most Forex institutes have free practice accounts so that when you are learning you can practice trade until you feel comfortable with their system and most importantly your choices.

Currency exchanges are attractive to investors because of their liquidity. There are no commodities, securities or assets on a currency exchange that cannot be almost instantly “redeemed” for another liquid currency. This is one of the chief reasons an exchange like Forex is so popular with investors.

Forex operates on an index of floating exchange rates. These rates fluctuate depending on various market conditions, and may be different from day to day or even hour to hour. Experienced traders in currency markets can take advantage of arbitrage opportunities, when prices in a particular currency drop relative to the assets they hold, then rise again at a future date.

Currency markets also allow traders to enter into a variety of contract agreements like spot contracts, forwards, options and loans in the form of swaps. Because exchanges like Forex provide a consistent and well-recorded rate history, traders can rely on accurate information to be available at a future date. That accurate information, like pricing and exchange rate information, gives those contract agreements their value, and increases the oppportunities for all traders in the market.

A market like Forex requires significant study before investors will be able to navigate such a large volume of information. Many traders require years of experience before they are able to spot good opportunities, but once those opportunities are identified, they can form the basis of a diversified and effective investing strategy.

Now the basic question that is going to be addressed in this discussion is whether currency trading can make you rich or not? Well, in order to answer such a question you first of all need to understand how the currency market works and what are the fundamentals working behind the scene in the currency market. In order to learn more about the forex trading, you can follow one of the many sources of information available online. Apart from this you can take help of free online courses which make you understand the basic concepts relating to the market. So all you need to do is devote some time and start reading in order to find out what basically comes under the purview of forex.

The next step in the process is finding out what to trade in. Currency trading as it is well known is done in pairs and this is the reason why you need to decide which pair you would want to invest in. Your decision needs to be based on the evaluation of the economic conditions of the two countries where the currency is pre-dominantly used. Apart from all this you need to have a sound and reliable forex broker or an investment partner which can help you tap into the market and help you buy and sell currency pairs in the market.

Forex trading has the potential of making you rich but in order to realize this potential you need to find out whether you are capable of handling the stress and the pressure that is faced by traders in the currency market. You do need to be very intelligent to be successful in the currency market and you surely do not have to be a mathematician to trade responsibly in the market. All you need is some basic tools and a little math to understand and analyze how the market is performing and what the future course of the market would be. To become rich by trading in forex you need to have the desire to learn. Why? Simply because learning would help you better understand the market and thus make it easier for you to earn a profit.

Thus it can be said that forex trading can surely help you in getting rich and there is no other better method of earning some extra money, but all this is possible only if you are willing to learn and work hard.

Some of these basic yet important things are listed as follows:

Currency trading is hard work

People tend to make assumptions that it is very easy to make a buck in forex trading. They seem to believe that forex trading is a goose that would only lay golden eggs. But this assumption is totally wrong. Forex trading is very hard and requires a lot of patience, hard work and the ability to learn at a very rapid pace. Most of the people who think forex is easy lose all their money within the first three months of starting their forex trading endeavors. Thus one should always remember that there is nothing easy in the world of forex and you need to earn each and every penny by working hard and doing things that require mental labour and patience.

Currency trading is the perfect job for everyone

People think that you do not need to be clever or intelligent to succeed in the currency market. Well, let me tell you they are completely wrong at this one too. Though forex trading does not require large amounts of intelligence or ability to push beyond limits, it does require the ability to stick by the rules and do everything by the book. So if you are one of those who have trouble following orders to the letter, then forex is not for you.

Money management

More than 95% of the newbie forex traders lose all their investments. The reason for this is not that they lack the ability to trade or are inferior to other traders. The reason is that these people do understand the importance of money management. Money management is at the core of forex trading. If you are not able to manage you investments and your bankroll, then there is no way you can become an expert in forex trading.

Simplicity is the key

Forex trading does not require complicated mathematical equations and formulas; all you need to do is play it simple and you would surely emerge on top. Forget all about predictions, just pay attention to forex charts and stick to the mere basics and you would surely succeed.

These are some of the points that you need to keep in mind while trading in the currency market. Taking note of these things would not only protect you from losing your investment, it would also help become successful in the currency market.

Forex (which stands for FOReign EXchange), is the trading of foreign currencies in an effort to make money by predicting which way trading pairs (the exchange rate between two currencies) are going to go.

So how does this make you money 24 hours a day? Because the markets never sleep.

Sure certain financial markets are only open at set ours – but when you take the whole world into consideration you realise that at anyone time there is always a financial market open somewhere on the planet that will allow you to continue trading.

Even if you ignore that, the fact is that the things that influence fluctuations in the Forex market are going on constantly. From spending habits to natural disasters. Each and every piece of financial news is going to have an impact, allowing you to keep track 24/7 and predict outcomes.

Of course no one can be expected to monitor the markets 24/7, though it might be tempting when you first start out in Forex the fact is that we’re not robots! Which is why we have software that is able to help us – whilst we may not be robots it doesn’t mean that we can’t use them!

The best Forex robots are able to monitor the exchange rates of all sorts of currencies and predict patterns based on previous similarities. They are also able to help you to monitor the news, showing you what is considered to be the most important financial news (though you may prefer your own news flagging software for that).

Forex really is the market that never sleeps!

Think for a second how powerful it would be if you were able to use patterns to be able to predict how the exchange rate changes at any given time. Think just how much money that would mean to you.

People dismiss this as a pipe dream – and yet consistently make predictions based on news that has hit the market, or even just a ‘gut feel’. You may or may not be surprised that they are ignoring their own advice – they are betting on patterns.

Because there is a pattern in everything. Within Forex think about how the markets react to a certain news type. For instance if the Government ups the interest rate, or if it adjusts it’s predictions on it’s commercial growth. Almost everytime the market reacts in a certain way, depending on what other news has come in.

Now it would take a super computer and a huge amount of knowledgeable people to be able to predict market changes based on the masses of information available. BUT that doesn’t mean we can’t use patterns to make educated investments without such people.

If you are able to know what the general trend in a certain currency was for July every year, and knew that a certain news story would alter a currency in a set direction, then you are no longer just going with your gut – you are using your head to make predictions.

Often our ‘gut’ instinct is us doing this at an unconscious level – but our conscious mind is better placed to help decision making, so by looking for and (importantly) tracking patterns we are able to make sound investments based on available data.

Doing so would put you ahead of 90% of the competition