Richard Montana | May 17, 2022
Eurotrader is a financial service provider that offers online trading of forex, stocks, indices, commodities and cryptocurrencies to retail and institutional traders. You can trade on the powerful yet user-friendly MetaTrader 4 and MetaTrader 5 platforms for desktop, web and mobile. I found the broker to have very competitive trading conditions which includes tight spreads, commission free trading, rapid execution speeds, various account types, multiple payment options and around the clock support. There is also the Eurotrader academy which is packed with helpful learning materials for beginners including trading guides, tutorial videos and much more. You can get started with a minimum deposit of just $50 or even practice trading online risk free with a demo account.
Pros / Cons
- Regulated brokerage firm
- User-friendly MetaTrader platforms
- Hundreds of trading instruments
- Tight spreads & low fees
- Commission free trading accounts
- Rapid trade execution speeds
- Multiple payment options including eWallets & cryptos
- Various trading account types
- Minimum $50 deposit
- Free VPS for qualifying clients
- Eurotrader Academy
- Islamic accounts
- 24/5 customer support
- Cannot accept clients from some countries such as USA
- Do not have Autochartist or Trading Central
- Account with lower spreads requires larger deposit
- No managed accounts
- No FIX API solutions
Founded in 2015, Eurotrader is a fintech company owned by Eurotrade Global Limited, with a mission to provide the best turnkey solution in the financial markets. They are headquartered in Limassol, Cyprus, and licensed to provide online trading products and services. The broker provides simple access to a diverse range of trading instruments across multiple asset classes. You can choose from hundreds of assets across various financial markets, including Forex, Stocks, Commodities, Indices and Cryptocurrency.
The broker implements some of the latest trading technology to provide the best services for its clients in the financial markets. It has partnered with premium liquidity providers for pricing and market execution of clients’ trades. This is why the broker is able to give you spreads from as low as 0.2 pips. In addition to this, they also offer very competitive fees and commission free trading account options. Whilst this is reasonable, other brokers such as XM Group have spreads from just 0.0 pips and ECN execution to make sure your trades are placed at the best available prices at any time.
Eurotrader uses the globally renowned MetaTrader 4 trading platform as well as its successor, the MetaTrader 5 trading platform. These platforms are known to be user-friendly and have a vast array of built-in analytical and trading tools that assist you with your market analysis and other day trading activities. I am a big fan of the MetaTrader platforms and feel like they have more than enough features to satisfy the needs of even the most demanding of traders.
Eurotrader Group is a subsidiary of Swiss Asset Global AG who are regulated by the Swiss Financial Market Supervisory Authority (FINMA). FINMA is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland.
Eurotrader is operated by Eurotrade Investments RGB Ltd; a Cypriot Investment Firm (CIF) with the Registration number HE317893. It is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) with the license number: 279/15.
As a result of being regulated by CySEC, Eurotrader is subject to the rules and regulations laid down by the European Union’s Market of Financial Instruments Directive (MiFID II) which enables it to extend its service across Europe.
Eurotrade SA (Pty) Ltd (“Eurotrader”) is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa with license number FSP 44351. The FSCA is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures.
This regulation gives me confidence that they are a broker who I can trust to operate in a transparent and honest manner. In the unlikely event that something was to go wrong, there would be some protection in place. I always prefer a regulated broker as this allows me to focus on my trading without worrying about safety. If regulation is also important to you, Plus500 are one of the most well-regulated brokers that I have come across.
All client funds should be segregated and adequate digital security is provided via secured socket layer (SSL) technology which encrypts all user data before transmission to the servers.
The broker does not provide its financial services to clients from the United States of America. If you are a resident of the USA, you can check our best USA brokers for some other options.
Clients of Eurotrader can trade on one of the best trading platforms, MetaTrader 4 (MT4). This is a user-friendly platform that is very flexible and can be customized to your own preferences. Whatever your trading style, you can create a layout and chart templates that work for you. MT4 comes with a lot of built-in features including analytical tools, automated trading, 30 technical indicators, 24 drawing tools, 4 pending order types and other features which makes it a powerful trading platform. MT4 is fast, rugged, stable and versatile. Its features can be enhanced through plugin apps built with the MQL4 programming language. The MT4 platform is available as downloadable software for Windows and MAC OS computers. I personally use the desktop version for running automated systems and the mobile app for keeping track of open positions.
MetaTrader 5 (MT5) is the next generation of the MetaTrader trading platform available for Eurotrader clients. It includes most of the same features as the previous version, MetaTrader 4 as well as its flexibility and user-friendly interface. MT5 also supports the coding, installation and activation of Expert Advisors (EAs) which can automate your trading strategies. If you don’t have any programming skills yourself, then you may want to have a look at the free and paid prebuilt strategies that you can get from within the MQL marketplace.
You will notice that MT5 has more features and tools than its predecessor. It has more technical indicators (38) and graphical objects (44) as well as more trading timeframes (21 compared to 9 on the MT4). There are also 6 pending order types and inbuilt economic calendar. Clients can also interact with other traders on the MQL5 community forum. The MT5 platform is available for both Windows and Mac desktop devices.
I personally feel that MT4 would be suitable if you just want to trade forex but MT5 would probably be better long term if you plan on trading stocks. This is because I have seen quite a few brokers provide stock instruments through MT5 rather than MT4. It may also be considered wise to use the latest version of the platform just in case the older is no longer supported. Either way, I feel you can’t really go wrong if you are looking for simple access to the markets.
The mobile versions of both the MT4 and MT5 trading platforms are available for iOS and Android devices. The two apps have the same physical interface and similar features except that the MT5 has more tools and capabilities than the MT4. Both apps can be downloaded from the respective app stores. With the mobile trading apps, you can easily monitor the markets, perform technical analysis, enter and close trade positions. However, a disadvantage is that they do not have all of the same functionality and capabilities as the MetaTrader desktop platforms, including automated trading. The MetaTrader mobile app is suitable for those who would like to follow the markets and trade from the palm of their hands whilst on the move.
You can use the brokers decent selection of additional trading tools and calculators to help you with your daily trading activities. There are tools for market analysis, money management and keeping up to date with the latest market news. I think they could improve in this area by adding a third-party market analysis software such as Autochartist. If you want access to this and more complex tools, Tickmill have a good variety.
MT4/MT5 Trading Tools
Although there are not a ton of additional tools, you do have access to all the trading and analytical tools available on the MT4 and MT5 trading platforms. This is also in addition to the real time financial information available and access to the MetaTrader market where various general and specialized trading tools like expert advisors, trading signals and indicators can be obtained. Generally, I think this will be more than enough tools for most traders. That is not to mention the add-ons you can get for the MetaTrader platforms to further enhance its capabilities.
Virtual Private Server
I like that you can get access to a Virtual Private Server (VPS) that provides fast, flexible, safe, stable and uninterrupted access to your trading platform.
You can enjoy Eurotrader’s VPS for free, subject to specific deposit and trading requirements. The minimum required for a free VPS is for net deposits over 2,500 EUR/USD/GBP during the past 30 days. Paid subscriptions start from as little as €30+VAT/month.
A virtual private server, or VPS, is a virtual computer that you can access remotely and use as a private online dedicated server. It is a great way to run your trading platform 24/7, without needing your own computer switched on. This is especially useful for those who are running fully automated trading systems around the clock.
I actually have my own VPS that is a vital tool for me. I have used it for many years to simultaneously run multiple instances of the MetaTrader 4 platform so that I can test expert advisors on different brokers to see how well they perform. If you feel a VPS could be useful to you, then Switch Markets also provide one to qualifying traders.
Some of the key Eurotrader VPS features includes:
- Multiple languages
- 24/5 VPS support
- Low latency
- Uninterrupted remote access
- Watertight security
- Blazing-fast speeds
Pip Value Calculator
This exclusive trading tool will help you quickly find the value per pip in the base currency of your choice. Just fill in the deposit currency, the pip amount, the currency pair you are trading and the trade size (lots) and find out the pip value.
This is another exclusive trading tool that will help you find the minimum amount required to open and maintain a new position. Just fill in the deposit currency, the currency pair you are trading, the trade size (lots) and the leverage and find out the required margin.
Profit & Loss Calculator
This exclusive trading tool will help you deciding which stop-loss and/or take-profit prices to set before activating the respective order. Just fill out the information below, choose whether you’re going long (buying) or short (selling) and hit calculate.
This tool enables you to easily calculate the foreign exchange rates of popular foreign currencies. Just select the currencies you’d like to convert to and from, enter the desired amount and hit calculate.
You can manage risk effectively by calculating your trade lots, i.e. the right position size. Find out how many units you have to buy or sell to minimise the risk gap. Just set your deposit currency, the currency pair you are trading, your account balance, the percentage of your account that you want to risk and the stop loss.
The Economic Calendar is a highly useful trading tool that you need in your arsenal. With it, you can track economic events and stay up to date with the latest market events, updates and data releases affecting the financial markets. I am always referring to the calendar to check what is going on around the markets. It can be a great help for making informed decisions. You can also access the news from directly within the MT5 platform using the built-in calendar which is very handy.
The Crypto Calendar is another essential for your trading toolkit. Use the calendar to keep an eye on cryptocurrency listings, updates and other events that’ll help you shape your crypto decision-making.
Eurotrader deliver training for traders who are serious about getting the best from their trading. It’s academic and social, but not old school. So, no matter what level of experience you have, you can learn something new. You can check out the latest tutorials on the Eurotrader Academy and see how you can put the helpful trading tips to work. I found there to be a decent selection of content, especially for beginners who are new to trading. I think it is good that the broker wants to encourage making informed trading decisions.
You will find a generous selection of in-depth basic and advanced eBooks on the brokers website. They have conveniently put all the necessary trading know-how in one handbook, which is a one-stop shop for the level-ups and recaps you may need. Therefore, if you’re ready to learn something new, or just need a reminder of how to use the Economic Calendar, I feel that the eBooks can be very helpful.
- The Trading Basics eBook provides an introduction to the trading ABCs, concepts and tools to boost your trading confidence. They will have you knowing your bulls from your bears in no time.
- The Advanced Trading eBook is perfect for those ready to take the next step, or for the more skilled traders that simply need a refresher.
- There is also a Crypto Trading eBook, which is a complete guide that will help take the cryptic out of crypto.
You will find a useful selection of trading guides on the brokers website. These cover a range of subjects including a beginner’s guide to trading forex, learning the ropes of stock trading, an introduction to crypto trading, indices trading explained and commodities trading inside out. These trading guides will be especially useful for those who are just starting their online trading journey and looking to improve their knowledge.
Trading Video Courses
The Eurotrader academy has a selection of trading videos that cover the essentials of trading, technical trading, strategic trading and crypto trading.
You can dive into the latest trading insights and trends with the Eurotrader blog. Check out the blog for all the useful insights you need to help make better trading decisions.
On its website, the broker updates you with some of the latest financial news. This information enables you to have a view of the background and happenings in the financial world which can be an important part of fundamental analysis. I always like to know what is happening in the markets as it can have a big impact on my open or pending positions.
Trading Platform Tutorials
You will find a selection of useful video tutorials on the website that explain in details how to use the platforms provided by the broker. These cover a range of different actions including how to place and manage orders. Whilst there are plenty of other online resources where you can get all of this information for free, I must admit that it is nice to have everything in one place. The videos are easy to follow and well explained. I think after watching them all, even a new trader would have an understanding of how to use the platforms.
There is a great range of trading instruments offered by Eurotrader. Whatever your interests, there is something for everyone to trade. You will find a nice variety of currency pairs, popular cryptos, precious metals and shares in some of the largest companies globally.
Enter the world’s largest market with maximum liquidity and trade global currencies with a low-cost and fast-execution account. Trade popular currency pairs such as the EUR/USD and GBP/USD along with more exotic currency pairs.
Apple? Netflix? Tesla? Take your pick of the stocks and invest – with ZERO commission – on your favourites. They offer a trading community with all the tools, training resources and technical support traders need to manage the market’s ups and downs, from LSE to NYSE, Nasdaq to the Tokyo Stock Exchange.
You can trade the most active and top-traded cryptocurrency pairs with enhanced security. Exclusive crypto trading tools, calculators, calendars and learning aids to deal with your FOMO and teach you to trade cryptocurrencies at either their all-time high or all-time low.
Track the overall performance of selected stocks and trade with competitive rates and fast execution. You can trade indices and speculate on the leading stock markets of Europe, USA and Asia. Join the community and get the benefits of exclusive trading tool kits, the learning repository and superior support to trade up NASDAQ, FTSE and S&P 500.
With transparent pricing, tight spreads and dedicated support, you can trade the global energies and commodities market. Dive into a gold mine of information: exclusive in-depth learning resources, mates’ rates, exceptional customer service, superfast executions. Get everything you need to train up and trade up gold, silver, oil, Brent Crude or WTI Crude.
I think it is great that the broker offers 5 different types of live trading accounts that give you access to trade CFDs on forex, cryptocurrencies, stocks, indices and commodities.
The account type that you choose is probably going top depend on your trading strategy. This is because you can choose from accounts that have spreads from 0.0 pips with a small commission fee on top. Alternatively, there are accounts which do not have any commission charge but instead incur a spread mark-up. You will need to decide which works best for you. I would’ve thought scalpers and day traders would look for the lowest spreads possible as the smallest price movements could impact results. Those who plan on holding traders for the long term may not be so concerned with the spread and would rather save on commission fees. Either way, I found the spreads and fees on all accounts to be acceptable and not that different to what you will find elsewhere. If you do want low spreads and commission, I would recommend having a look at Pepperstone as another option.
Here are the account types you can choose from:
This account was created for beginners as well as clients who wish to trade with smaller amounts. The minimum deposit is $50 whilst the typical spread is 1-1.2 pips. The maximum leverage is 1:500 and no commissions are charged on forex or stocks. The maximum trade size is 10 lots.
This account was created for traders with a little more knowledge and experience of trading. The minimum deposit is $500 and the maximum leverage allowed is 1:300. The minimum trade size allowed is 0.01 lots while the maximum is 50 lots. The average forex spread is 0.6-0.7 pips. In addition to having no trading commission while using this account, clients also get an account manager attached to them.
This account was designed for traders who trade more frequently, especially day traders and scalpers. It comes in 2 options, either with spreads from zero pips with commissions of $2.75 charged on forex trading or zero commissions with a small spread mark-up. The minimum opening balance is $500 for the zero spread option and $500 for the zero-commission option. The maximum leverage allowed is 1:300. The minimum trade size allowed is 0.01 lot while 50 lots is the maximum trade size allowed. The average forex spread is 0-0.3 pips for the zero spread option and 0.6-0.7 for the zero-commission option. Account holders also get an account manager.
This account was created for high end traders who demand the best of personalized service as well as the highest level trading conditions that the broker can offer. This is the premium account on Eurotrader and demands a minimum deposit of $25,000 to be used.
The maximum leverage available is 1:100. The minimum trade size allowed is 1 lot while the maximum is 1,000 lots. The average forex spread is 0 – 0.3 pips. Commissions of $4 per round trip are charged on forex trades but no commission is charged on stocks. An account manager is attached to account holders.
This account was designed for clients who do not want to receive or earn interest on their trade positions that extend to the next day. This account can be useful for practising Muslims as they comply with Sharia law. There are no swap fees charged on this account. A minimum deposit of $1,000 is required whilst the maximum leverage available is 1:100. The minimum trade size allowed is 0.01 lots while the maximum is 50 lots. The average forex spread is 0.7-0.9 pips. An account manager is attached to account holders.
The Eurotrader demo account lets you practice trading online using virtual funds. This can be a great way to familiarise yourself with the brokers platforms and master your trading strategies until you build the confidence to open a real trading account.
If you need to make any inquiries, lay complaints or make other type of requests, you can easily reach the brokers customer service team either through phone lines, email, web chat or the online ‘get in touch’ form. On social media, Eurotrader is on LinkedIn, Facebook and Twitter. The customer care team is available 24 hours a day for the 5 weekdays. I think they could improve by having 24/7 support just like FP Markets do. This is especially important when you consider that crypto trading can be done on weekends.
Eurotrader has a decent range of options for the deposits and withdrawal of funds to and from your trading account. I like that they accept digital wallets as this means I can get quick access to my funds which is important if I need to try and capitalise on a market move.
The currencies accepted are US dollar, British pounds and Euros. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
The minimum deposit is relatively low at $50 while the maximum deposit is dependent on the verification of the account owner. For unverified accounts, the maximum is $2,000 but this limit is removed when the account is verified. The minimum withdrawal amount is $25 while the maximum is dependent on the funds in the account. Any payment or withdrawal method that is used for the first time requires verification.
Some fees may be charged when using certain payment methods. The withdrawal time can vary depending on the payment provider and method. Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites.
You may need to verify your account to remove limits on particular methods in some countries. The broker does not accept third-party payments. All funds deposited into your trading account must be under the same name as your trading account. This is standard procedure that you will find with most brokers.
Visa and MasterCard are the cards accepted. Card payments are processed instantly. The broker does not charge any fees for funding and withdrawal with this method. Withdrawals are processed within a day.
Funds transfer through banking institutions are also allowed. This takes 2-5 business days to process. Clients are liable to pay bank charges incurred in the process but the broker will not charge any commissions.
The broker accepts e-wallet payments through Neteller and Skrill. The processing time for eWallet deposits are instant. Withdrawals are processed within one business day.
Eurotrader are one of a few brokers I have reviewed that let you deposit and withdraw with cryptocurrencies. The accepted cryptocurrencies are Bitcoin, Litecoin, Ripple and Bitcoin cash. All cryptocurrency deposits are processed instantly while withdrawals take a business day. I personally feel blockchain fees are still quite high for crypto funding but appreciate that it can give anonymity. If you require crypto funding, it is also supported by Hugo’s Way.
To open an account on Eurotrader, you just need to click on the ‘open account’ button. You will be taken to a page that will enquire if you are an individual or company. Once you make your choice, you will be taken to a page where you will fill a form with your personal or company information. The form has 3 pages in all and didn’t take me more than a few minutes to complete. I like that it is all an online process with minimal hassle.
Fill your personal information, financial info, employment info and trading experience and account preferences. Once all the information is filled correctly, you will be sent an email to verify your email address. Once this is done, you are welcomed and given the information for your account as well as the download link for your preferred trading platform.
You are also prompted to send in your proof of residence and proof of identity for verification in order to satisfy anti-laundering laws and be legally allowed to trade on Eurotrader.
Overall, I am happy with Eurotrader being a regulated broker. They have a reasonable selection of around 200 instruments for trading online via the versatile MetaTrader platforms which can be customised according to your own preferences. I find the platforms very easy to use and like that they have an abundance of built-in features which makes trading online accessible for clients of all trading styles and experience levels. There are also plenty of trading tools to assist you with your daily trading activities.
I found the broker to have very competitive trading conditions including tight spreads, commission free trading, fast trade execution speeds, different account types, convenient funding options and 24/5 support. In addition to a top-class trading environment, there are also helpful resources for beginners. This includes a training academy, financial news and market analysis. There is a low minimum deposit requirement of just $50 or you can try them out with a free demo account to build your confidence.