Follow these simple steps and you will be able to trade in no time.
Step 1: Register for opening a RetailFX account.
Step 2: Install eToro
Follow all instruction on the Download Instructions page.
Installation is easy and fast. Simply follow instructions. For any problems, please do not hesitate to contact eToro’s technical support team.
Step 3: Open a Real or Practice Account
Once you have completed the installation, eToro will launch automatically.
You can either choose to trade using real money by clicking the “Trade for Real” button or alternatively choose to practice your trading skills first by clicking the “Trade for Fun” button. Both the Real and Practice platform operate exactly the same and offer the same features. The only difference is whether trades are executed using real or virtual money.
You will now have to create your personal account. Once you have opened an Account you will receive your eToro username and password.
Step 4: Deposit Funds (Real Trading Mode)
Enter your username and password in the “Login” screen.
Click on “Account Balance” at the main Lobby screen to proceed to the Cashier screen.
Select your preferred deposit method.
- To deposit via Credit Card: Click on “Credit Card,” then fill out the form.
- To deposit via Wire Transfer: First click on “Wire Transfer” and then enter the amount you wish to deposit, click on “Continue”.
You will receive your Wire Transfer details (including your transaction reference number). Please print this information out.
Proceed to any bank and forward your Wire Transfer details to eToro’s bank. Be sure to include the transaction reference number on the Wire Transfer form in the Payment Details field.
The other deposit methods available to you at RetailFX are:
- PayPal
- Western Union
- MoneyGram
- Neteller
- Moneybookers
Click here for detailed instructions on how to use these deposit methods.
Step 5: Open a Position Once you are logged in you can begin to trade. At the center of the lobby you will see four big icons. Each icon represents a trading arena—Forex Marathon, Dollar Trend, Globe Trader, Forex Match. Choose your preferred mode of trading by clicking on an icon. You will automatically be directed to the Visual or Expert trading modes according to your stated level of forex trading experience. The Visual Mode offers several trading arenas all of which are based on trade visualization, making the forex market easily comprehensible for novice traders. The Expert Mode offers a unique user friendly interface that places all the advanced forex trading tools at your fingertips. You can switch between the two modes at any given time.
Step 6: Trade Once you have chosen a trading mode or a trading arena, you will need to choose a currency with which to trade. You will also need to choose the amount which you would like to trade and your leverage. You can also set Stop Loss and Take Profit orders (in some arenas these are located in the "advanced" box). Once you have done this, all you have to is click on "Open Trade" for your trading to begin. You can close your trade at any time simply by clicking “Close Trade.”
* NOTE: If you wish to trade with demo money first, before you trade with real money, you may do so. In Step 3, instead of opening a Real Trading Account simply select to “Trade for Fun”. Once you have completed the installation, eToro will open automatically. You must then click on “Trade for Fun”.
