Trading Can Be Fun! eToro’s Webtrader 2 Review

Written by: Dave Green • Friday, June 1, 2012 • 3 min read

• Last updated: Friday, June 1, 2012

Couple of weeks ago, eToro, the biggest investment network in the world have launched their new WebTrader version.

For the last few years, their trading platform was considered one of the most innovative platforms in the industry. A friendly user interface, state of the art technical tools and intuitive panel were some of the reasons why eToro based itself as a leading player in the Forex industry.

Their approach right from the beginning was that Forex trading doesn’t have to be for professional traders only. As their CEO once said “Trading doesn’t have to be all sophisticated. Anyone can trade, and we will make sure that the average online trader will enjoy their trading experience”.

eToro does not consider itself as a standard Forex broker. They are more of a social network that allows its users to trade social by letting them follow the all of the trading activity made by the other traders in real time. Think of it as a global trading room, where you can meet millions of other traders and see how they trade.

In order to improve the trading experience, eToro released their new version of their WebTrader platform, with tons of improvements and, cool features. For the last couple of weeks I have tested their new WebTrader, and let me tell you, it's amazing!

Let's cover some of the new features:

Some of the best ones appear in the panel's main window:

– You can view detailed information on each of the instruments appearing in the window. You can do that with a “Chart view”, or leave the “Box view” by clicking the right hand icon.

– Each of the pairs has a bell icon next to it. By clicking it, you can get sound notifications when the pair reaches your set price. Just like an alarm.

– Quick chart: You can view the change in the pair's price over a chosen period. This is an excellent tool, as we can determine the period we wish to examine in a simple click, and follow market sentiment for this period. You can change to daily, weekly and monthly view. It really helps with spotting the current market trend

– The platform calculates your net profit after removing the spread that you have to pay. This helps you realize your true net profits.

– Let's focus on the Open Order Window on the right hand:
open trade box

Once you decide to open a trade, the WebTrader makes it even easier than before. You simply click the Order button to choose a currency pair, set your Stop Loss (either in dollars or in pips) and your desired risk level. Once done, you click the Open Trade button and your trade appears in your trading area. Looking to the right side, you can see that it even calculate for you the value of 1 pip (considering your trade size and leverage).

– The biggest news coming from the new WebTrader is the fantastic integration with the OpenBook – eToro's sensational social trading network, where you can follow and copy the best traders in the world. Clicking the tabs which appear on the right allows you to view your chosen trader's avatar, share your thoughts and comments, and instantly go to the OpenBook to choose new traders to copy.

openbook integration chat integration

If you have never tried trading with eToro's WebTrader, I suggest you try it. You can even start with a demo account or a small first deposit to start spinning the wheels.