LONDON and MILAN, 26 September 2011 - Social trading platform eToro releases a new version of its online WebTrader that is geared to promote responsible trading among eToro traders.
Online PR News – 30-September-2011 – – With traders being spoiled for choice of online trading platforms, some trading providers are beginning to realize that it is not enough to attract traders, and that they have to take measures in order to keep traders. For eToro, a platform whose simple aesthetic and social trading approach are particularly appealing to new forex traders, this has been a matter of utmost importance.
“We don’t want traders to open an account and then lose their money on their first couple of trades,” said eToro CEO, Jonathan Assia. “What we want to provide is a way for people start long term investment careers. In order to do this we have to promote education and responsible trading.”
From the outset, eToro has had the educational aspect covered with a wide variety of educational tools, including guides, webinars and a specially developed e-course to help novice traders get their bearings in the financial markets before trading. With the release of the latest version of the eToro WebTrader, they are also actively promoting low risk trading strategies that can help preserve novice traders from rookie mistakes.
The new eToro WebTrader comes with default responsible trading settings that prevent customers from using high leverages and investing more than a certain percentage of their account balance in any one position. All forex traders have the option to switch off the responsible trading settings and get access to higher leverages and unlimited balance usage, however, the eToro Team feels that the default settings can save many traders from unnecessary risk.
As Mr. Assia expressed it, “the responsible trading limitations aren’t there to prevent traders from using all the options available to them, they are there to indicate to traders that there is such a thing as responsible trading and irresponsible traders, and to show them that beyond a certain point they are opening risky positions that can end up costing them a lot of money. I think if I had someone point these things out to me at the beginning of my trading career, I would have spared myself some spectacular losses!”
With the new responsible version of the eToro WebTrader and the opportunity to harness others’ trading experience through eToro OpenBook and CopyTrader, novice traders never had a better chance at success.