1. Risk Free Practicing Account

Signing up for an online forex broker will involve payment of a subscription fee as a part of the deal. But you may also face a situation when you might find that the forex broker is not meeting your expectations. This is why eToro has come up with a demo period, offering a risk-free practice account for new users.

You can avail this facility to set up a full functional account with eToro (for the limited period of the demo) without having to pay a single buck. This risk-free practice account provides you with virtual money that you can use to trade in a simulated forex market (it is very much similar to the real life forex markets).

There are twofold gains from being able to access this demo account. One, you can check out the various features eToro forex broker offers to its customers. This will give you a fair idea about the trading features, currency pairs, lag in execution of orders and other important aspects of the eToro forex broker. Two, you can test your own skills and intuitions as a forex broker and gain a fair idea about how well you will be performing with a real time forex account.

2. User Friendly Platform Design

The design of the platform or the interface of an online forex broker is very important when it comes to trading in the forex market. Too many complicated and customizable options can scare a new forex trader while too few options might hamper the performance of an expert forex trader. Although many online forex brokers ignore this factor, eToro acknowledges this versatility and has come up with a dual mode platform design to facilitate usage.

There is a ‘newbie’ mode in the eToro online forex broker platform that will allow you to access the basic and important features and functions of the online forex broker. This way you can learn to deal with real money in a real life forex market without getting confused.

Once you are confident of your abilities as a forex trader you can switch to the ‘expert’ mode of the eToro online forex trading platform. In this mode you can access more features, analysis tools and customization options for a greater amount of control on your account in the forex market. You can always switch back to the simpler mode if you think that the expert mode is too complicated for you.

Remember that forex trading is a continuous learning process. Most present day successful forex traders didn’t start making millions in the market since their first day. Thus, it is very important that you choose a newbie-friendly, risk-free online forex trader like eToro for this purpose.