eTrader Review – low minimum deposit and no crypto

eTrader is a forex broker that offers CFDs on stocks, commodities and indices in addition to currency pairs. Learn more about CFDs here. eTrader belongs to the Goldenburg Group Ltd, which is licensed in Europe by the regulatory authority CySEC. Therefore, the broker can legally offer its services to the vast majority of Europeans. The typical spread for the EUR/USD currency pair is 3.0 pips, while the minimum deposit for eTrader is set at $100.

eTrader review – broker overview

Minimum deposit100 USD
PlatformMT5
Regulated brokerYes
RegulationCySEC
Demo accountYes, for a limited time

Special features and advantages

Automatic trading (EAs)

eTrader – trading platform

eTrader allows traders to use the relatively well-known MetaTrader 5 trading platform. This platform offers 21 timeframes and up to 79 analytical tools. MT5 can be downloaded for free to any computer or mobile device. However, it is also possible to access the platform from a traditional web browser.

eTrader - trading instruments, brokerage comparison, top forex broker

eTrader fees (spreads)

Like any other CFD broker, eTrader charges a spread fee. For the current value of this fee, please visit the eTrader website. We have prepared a small comparison table here, where you can find the amount of eTrader spread fees on popular currency pairs compared to 2 other popular CFD brokers.

EUR/USDUSD/JPYGBP/USDAUD/USD
Plus500*0.60.71.10.6
XTB*0.81.42.01.7
eTrader**3.03.03.04.0
*the spread value was gathered from the brokers’ trading platform 26/09/2019 at 12:26
**the data was gathered from the broker’s website 26/06/2019 at 17:31 GMT

Review summary

eTrader must adhere to the strict regulatory guidelines of the CySEC regulatory authority. The broker has slightly higher fees (spreads), but not significantly so. The minimum deposit here is set at just $100, but this amount is only valid for card deposits. When using bank transfer, the minimum deposit is $250.

The number of assets available at the broker is decent, you can even find some interesting stock titles for different EU countries. Unfortunately there are no CFDs for cryptocurrencies, at least the presence of Bitcoin would be highly appreciated. Another thing I don’t like about eTrader is that the minimum withdrawal value is set at $250 and that only bank transfer can be used for withdrawals, so the use of debit and credit cards is not allowed.

Advantages

  • Only 100 USD minimum deposit
  • Relatively strict regulation
  • Wide range of available assets

Disadvantages

  • No withdrawal possible with cards
  • No CFDs on cryptocurrencies

eTrader Review – broker rating

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