eToro Openbook Social Investing
The Cyprus-based eToro site combines two of the hottest online trends: Social Networking and Forex. Traders have three different platforms to choose from - eToro Web Trader, eToro Mobile Trader or eToro Openbook - the Openbook is the most exciting.
With Openbook, you can invest in a chat room-like environment sharing, discussing and copying trades. Just like Facebook, you can "like" or "comment." You can see a successful trader's moniker, country, number of followers, win percentage and percent gain.
Other features for eToro - minimum deposit of $50, 400:1 leverage and it accepts Americans. Traders can select from currency pairs and commodities. The exciting OpenBook platform has created a flat learning curve and entertaining environment for making money.
UFXMarkets Debit Card
UFXMarkets has its headquarters in London with the backing of the well-known Barclays Bank. The minimum deposit is $100, leverage is 200:1 and it does not accept American customers. The trading platforms are ParagonEX or MetaTrader 4.
This site has a professional look with currencies, commodities or stocks using a CFD. There are three main accounts: Mini, Standard and VIP, plus the free demo. Charts display the latest data along the side of the screen.
Customer service is by phone or live chat during normal trading hours. You can deposit or withdraw using credit cards, bank wire, PayPal or MoneyBookers. Or you can use the UFXMarkets debit card. UFXMarkets is a well-organized, professional site for trading assets.
NetoTrade Offers Low Interbank Spreads
NetoTrade is for the professional trader who wants the lowest spreads. With its headquarters in London, Netotrade has a minimum deposit of €200, 400:1 leverage and accepts American customers. There are three trading platforms: Web, Mobile or Meta Trader 4.
Multiple languages are supported for trading currencies, commodities and indices. There are four accounts (plus demo): Mini, Gold, Platinum and ECN. The NetoTrade ECN offers some of the lowest spreads in the industry at 0.3 pips.
Disappointing xForex
The xForex site is rather disappointing. The minimum deposit is $100 and the leverage is 400:1. No American customers are allowed as shown by a pop-up display window.
Available platforms are Webtrader, XFX or MetaTrader 4. Assets traded are limited to currencies or just two commodities (gold or silver). There is no CFD or trailing stop. Deposit or withdrawal is by credit card or Western Union. Customer service is phone, live chat or email.
Numerous reviews lamented the difficulty of using the system and lack of deposit\withdrawal options. Few bonuses are offered either. With so many features on other sites, xForex clearly lags behind the competition.