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eToro, a multi-asset broker and social trading network, said on Monday it has introduced one-click trading to the New eToro trading platform.
One-click trading allows the automation of opening orders without confirmation using parameters, such as traded amount, leverage rate,when to stop a loss of take a profit, that have been set in advance. This allows more experienced traders to act in a timely manner in times of highly volatile markets. However, it can be risky for novices, since once an order is opened it cannot be canceled. Closing of an order can be executed either automatically by the system, or manually by the trader.
New eToro users can use the one-click trading option on select markets add new instruments whenever they open a trade in markets which are not on their one-click trading lists. In addition, they can customize the trading conditions under which a position should be opened. Under the default settings, the Stop Loss and Take Profit parameter has been set at 50%. eToro currently only offers the eToro New trading platform, which was launched in November 2015. It replaced the developer’s other iconic platforms – eToro OpenBook and eToro WebTrader.
New eToro runs across all platforms and allows trading in a wide range of instruments, including forex, commodities, indices, stocks, contracts for difference (CFDs) and exchange-traded funds (ETFs). It recently added some 190 new US stocks to its offering.
The eToro brand combines the companies eToro UK, regulated by the Financial Conduct Authority (FCA), and eToro Europe, regulated by the Cyprus Securities and Exchange Commission (CySEC). It operates in more than 170 countries worldwide and has more than 4.5 million clients with more than 178 million opened trades.
eToro competes with social trading networks ZuluTrade, Tradeo, FxPro SuperTrader, SwipeStoxand Tradency, among others.