iToroStocks has developed into a world-class online broker since its introduction in 2015. It is a new yet promising brokerage firm that has done well in trading. Since its beginning, the organization has efficiently assisted thousands of traders in purchasing, selling, and holding CFDs such as commodities, cryptocurrencies, Forex, Indices, and Stocks. They provide a unique asset trading facility while offering over 200 items.
iToroStocks is a service-focused online brokerage offering multiple language services in 120 countries and regions. It is a trading platform that provides easy trading conditions to all types of traders.
The platform aims to be a digital brokerage that provides traders with cutting-edge trading tools. This firm strives to make trading more efficient while also making it more accessible. That may be challenging, but the broker’s courage is noteworthy. This brokerage company is new to the domain of online brokers. Even though they are new, the platform is outperforming others.
This iToroStocks review is meant to serve as a guide. It will supply investors with knowledge and insights into the platform, so if you are interested, please continue reading this iToroStocks review.
When I decided to start online forex trading, I had a tough time deciding on a broker with a trading platform that provided all of the features and services I needed. There were other options, and I was hesitant to select any of them due to my fear of scammers. I looked for a platform for almost six months, and the process was stressful for me.
Fortunately, I came to the iToroStocks website; a friend of mine suggested it to me. It was both amusing and authentic to me. Following his opinion, I opened an account and have been a member of iToroStocks ever since. I joined this broker firm to explore its services and have never regretted it.
I compose this iToroStocks review based on my experience and research.
Pros: Excellent features
The platform has several benefits, and I will examine it in my iToroStocks review. The following are some of the reasons I think this platform is fantastic. I’ll use personal examples to help you grasp the features and services.
- Legal and licensed
I felt safe and comfortable opening an account with this iToroStocks because it is a licensed broker. It holds many licenses from several financial authorities.
- iToroStocks Europe LLP is a registered Cypriot investment firm (CIF) that operates and complies with the Markets in Financial Instruments Directive (MiFID).
- In Australia, the Australian Securities and Investments Commission (ASIC) provide the iToro Aus Stocks LLP services and products, and it is licensed under the Corporations Act (Commonwealth).
- The Cyprus Securities and Exchange Commission (CySEC) has granted iToro Europe license number 119/12.
- iToroStocks is licensed and registered by the Financial Conduct Authority in the United Kingdom (FCA).
- iToro Australia holds an Australian Financial Services License in Australia (AFSL).
- Registration method
Next, is the signup process in this iToroStocks review. I found the registration procedure quite simple. I had to click the start trading button, and after that, it took me to another screen; all I did was submit some basic information. It made the procedure quick and easy. It also did a great job of not scaring me away with lengthy registration procedures. After I confirmed my email, the platform allowed me to begin trading.
- Trading platform
In my iToroStocks review, the trading platform is the most critical feature. The brokerage firm makes use of mobile and web-based services. I can access global markets at any time and from any location because iToroStocks provides a variety of trading platforms, including their browser-based Webtrader, MT4, and MT5. I also used the iToroStocks Mobile App, accessible for both Apple and Android devices, to trade on and monitor my account in real-time.
They feature a customized interface for all types of investors, both experienced and new to the trading industry. Trading performed smoothly on both my phone and my PC, and I liked the opportunity to pick between dark and bright trading room themes.
I believe the website to be straightforward and user-friendly. With a single tap, I had access to all of the options. I also used their excellent stop-loss and take-order tools to reduce market risk and safeguard my investments. This platform is perfect for those like me who want something quick and uncomplicated.
- Fee and Commission
Next, in this iToroStocks review, I will go through this broker’s pricing strategy. I chose this broker since it has low management, administrative, and other charges. Various fees and Commission structures exist depending on the type of account an investor operates. I can even trade FX at a low cost and with no commission, which was fantastic.
iToroStocks created fees and a commission structure that enticed me to seek leverage and boost my revenues. It means that if I lock up my capital for 1 year or more, I will get a discount for it in the form of reduced fee structure. I also discovered that this broker does not charge any hidden fees. However, it compensates for its services through spreads.
- Customer support
I’ve had a good experience with customer service, which is why I’d want to mention it in my iToroStocks review. When I contacted them, I discovered that they had responsive customer service. They are multilingual and located in several nations, making the broker considerably more accessible than most. I had a fantastic trade experience, which would not have been possible without the phenomenal support of the customer care staff, and always available to me.
iToroStocks offers 24/6 customer support by phone and email, which I find impressive because it allows me to reach them whenever I want during working days. I used both ways, and the staff was always willing to assist me.
With my iToroStocks review, I’d want to let you know that their education department is excellent. As a trader, I am always curious to increase my knowledge about the market. I discovered a lot of new strategies to diversify and expand my investment. I understood fundamental and advanced trading techniques because of this broker’s educational guide. Their detailed fintech guide provided all the knowledge I required regarding online trading. They also offer several resources for beginner traders, which will help them learn about forex trading.
- Account types
In my iToroStocks review, I’d want to highlight the importance of offering customers with several accounts. And this forex platform does a great job of ensuring that each account suits consumers with various financial circumstances. The lowest investment of $250 is a good starting point, but if you want quality, you can invest more. The website has five types of accounts: silver, gold, platinum, diamond, and VIP. Moreover, it also offers a demo account for new traders.
This broker also allows novice traders to become top members of the Royal and Yacht Club for the best investment for the money. I have not availed of this offer yet. However, to become members, traders had to meet the criteria:
- More than 1,000,000 euro worth of investment portfolios.
- A transaction with an average frequency of 10 per quarter in the past four quarters.
- Insight into the trade sector in a controlled role for several months.
As a member, traders can get many benefits, including a club-specific debit card, one-of-a-kind money and crypto management, no commissions, and maximum investments.
I start trading using their sample account at first. The demo account is fully functional with practice funds. This website is for Forex traders who want to make money without investing real money. I also used their gold account, which gave me 1:50 leverage, and a risk management team, among other incredible benefits.
This site offers a variety of accounts for different traders, which is fantastic. The other four accounts provide incredible benefits like up to 1:200 leverage, low trading costs, a 24/7 monitoring special risk group, and much more.
- Deposit and withdrawal
I was able to finance my account with a bank transfer, VISA card, SEPA, ETH, BTC, popular eWallets, and my credit/debit cards. Whenever I used eWallet or credit/debit card, the site processed my payments instantly. They also offer a large number of withdrawal techniques. I mostly use my credit/debit card to withdraw funds. I received my funds fast and effortlessly, which is always a plus.
The base currencies of this platform are USD, EUR, and GBP. I was relieved to see that I could fund my account using my local currency; this was easy for me.
This platform does not charge for deposits or withdrawals, but it may charge for exceeding the maximum number of monthly withdrawals. I like their business concept since they are straightforward and give competitive rates.
Cons: Areas for improvement
Some of the issues I have discussed in my iToroStocks review are listed below. In my opinion, this broker platform needs to work on them. These things were difficult for me during my trading experience on this site.
- They do not accept PayPal.
I prefer PayPal over other payment options because of its efficient features. Unfortunately, PayPal is not a payment option on this broker platform. It was first pretty inconvenient for me.
- No Video tutorials
As a beginner trader, I wanted to learn about trading, but there were no video lessons on the platform to assist me. As I am a visual learner, it was challenging for me. Some videos may be beneficial to educational resources. And I would suggest that this platform must add them to help new traders.
- No negative balance protection and deep market insights to executive-level clients
Negative balance protection is only available to those VIP clients who move to the Royal and Yacht Club. Also, deep market insights are not available to regular VIP or executive-level clients but only to club members.
To sum up my iToroStocks review, I must say that this broker platform is fantastic. During my journey, I explored the platform’s outstanding features. I took an objective approach to explaining the pros and cons of the IToroStocks. Regardless of my unbiased perspective, I suggest you conduct extensive research before investing in any trading platform.
As a user, it is okay to try out numerous options before settling on one. You should also know that a broker that works for one might not work for other. iToroStocks platform does have a few shortcomings, but I feel this forex broker is among the best for beginning traders. And I hope you found my iToroStocks review helpful.
Disclaimer: This review is based on my personal experience and knowledge, and it is not intended to be a recommendation.