eToro is extremely popular with Forex traders and Forex affiliate partners, but how do they compare with other brokers? It is probably the most common platform that many new Forex traders stumble across when getting started with currency trading; it certainly was one of mine.
This is partly due to the fact that eToro has a huge marketing team behind it, but what are they like to deal with as an affiliate?
eToro affiliate network review
Because eToro has been in business for many years, it is a well known name in the Forex industry. Naturally, people interested in Forex affiliate partnerships will probably have already had some experience with their trading platform.
Since they have such a large customer base already, this means:
a) eToro can afford to produce really solid affiliate training info, which makes it easy for new affiliates to scale the steep learning curve associated with Forex affiliate programs. They’ve learned a lot over the years, through trial and error, and have pivoted a bit in recent years to emphasize educating and informing their traders and affiliates alike. Since they have every incentive to make as many well-trained traders and affiliates as possible, they spare no expense when it comes to promotional materials and affiliate support. It’s pretty easy to get in touch with a real person at eToro, which sets them apart from smaller, newer Forex brokers.
b) eToro has a large network of affiliates that you’ll be competing against, which is good and bad. It is good because that network has been preaching the gospel of Forex trading online for years, which means eToro’s brand is everywhere. People know and trust them as a leader in the Forex markets. New FX traders tend to gravitate to the familiar, so this name recognition works in your favour as an affiliate. The bad news is that there are a larger number of affiliates out there who are trying to eat the same piece of pie that you’re after, which means you’ll face significant competition in this space.
So, great training + brand recognition – high competition = prospects who are already familiar with eToro, but who are also being approached by other affiliates like yourself.
How about the money, though? I mean, you aren’t reading about eToro’s affiliate partnerships without wanting to know about their commissions! Basically, like most other FX companies, eToro has different payment schemes:
- Revenue share: this is where you will earn a percentage of what your sign-ups invest with eToro. If they end up being serious traders, the rev share deal can bring in residual income for years.
- CPA: this stands for ‘cost per action’ and it basically means that if someone funds and trades their account, you will also receive a commission. It is a one-time payout.
There are a number of reasons why people choose rev share or CPA, but that goes beyond the purpose of this review of eToro’s affiliate program. If interested, you can learn more about it here.
How does eToro stack up as a Forex broker?
This question may not seem pertinent in a review of eToro as an affiliate partner, but if you are truly trying to introduce traders to a Forex company, shouldn’t you know a bit about what it is you are promoting?
So the question is whether the company is actually decent, or is it only successful due to its marketing?
Well, that is what we are going to ask as we take a little peek in this review of eToro as a Forex trading broker.
For the most part eToro is your standard trading platform. This means that you will be able to trade stocks, currencies, cryptocurrency, commodities, indices etc. This is not what eToro is about though. It is more about allowing newbie traders to gather the knowledge that they need in order to be successful in the world of trading currency online.
One of the best features of eToro is the fact that you are able to watch other people, often more seasoned traders, as they make trades in ‘real time’. This will enable you to actually learn how the best trades are made. You can also copy their trades with your own money, so if you are not sure how to trade, simply find someone who has a good track record, copy their trades, and keep an eye on your account. This ability to follow traders with a proven track record lowers the fear factor for many new traders who may otherwise feel intimidated by the array of information in front of them on the trading platform.
Trust me, we picked up a lot of information this way in our early days of trading. After all, it is far better to observe and test strategies than to just read and not understand what is going on.
If you do like a bit of in-depth knowledge then you will be pleased to know that there is tons of information and Forex research that you can dive into on the eToro site too. In fact, you will learn quickly how to trade with everything that you have at your disposal.
As you can probably guess, the eToro trading platform (both desktop and the app) is easy to use and packs a few more features than most other trading platforms out there. One of the things that we like about eToro (and as you can tell from this review so far, there is a lot that we like), it is the fact that this system has clearly been built from the ground-up to cater to beginners. Check it out here.
Many currency trading platforms make things too complex for beginners, but eToro is different. It seems to pack more features that your standard trading platform, but everything has been designed so you do not get overwhelmed with useless information. It really is simple, and that is why it is so popular. You even have a couple of options trade ‘on the go’ using your mobile device.
eToro’s platform is clearly geared towards new traders, but even more experienced traders out there will learn a lot from the useful social trading tools that are available through the website. For that reason we have absolutely no hesitation in recommending eToro to people. It really is a brilliant site that makes it easy to start trading Forex online.