As a Forex broker, eToro has always made an effort to stand out. When its competitors were offering the ever-popular MetaTrader 4 Forex trading platform, eToro offered 3 forms of proprietary software – the WebTrader, OpenBook and Mobile Trader. When other Forex brokers offered trading rooms or signals services, eToro promoted its unique form of social Forex trading, where traders could copy the trades of other eToro traders in the hopes of finding successful points of entry and exit.
But it seems, at long last, that eToro has finally joined the masses of Forex brokers offering MT4. Although it's not listed where all of the company's other trading platforms are listed, we were able to find a special landing page offering MT4 for traders under certain conditions. Specifically:
- Minimum Transaction Size: 10,000 units
- Maximum Transaction Size: 50,000,000 units
- Type of Order Execution: STP
- Rollover Type: Swap
- Leverage: 1:100
- Minimum Deposit: 20,000 USD
- Deposit Currency: USD
Spreads for traders using the MetaTrader 4 platform are variable, with a typical EUR/USD spread around 2.5 pips. Listed elsewhere on the eToro website, standard spreads are around 3 pips for the same pair, but clearly most eToro accounts don't require a $20,000 deposit. Still, we've reviewed eToro's proprietary platforms, and we were impressed enough to wonder why this brokerage even felt the need to offer MT4 (and if so, why limit it to high deposits?).