Last Night iam searching for the possibility of opening a Online Forex account. I enquired with E-Toro on their 24×7 online chatting platform about opening online trading in Forex, Commodities and World Indices.It seems that forex,commodities and World Indices Trading are possible in realtime. But the problem is they are not getting any Valid Identification proof to trade in their platform.
Below is the chat history with E-Toro online Support
Eugene: Welcome to eToro support ! How can I help you today?
Rajandran: Hi Eugene! Iam from India and I would like to know the process of opening the Fx account
Eugene: The link below will help you open a Real account, please follow the steps described:
Rajandran: So i can trade in Forex after Installing the Software?
Rajandran: What is the minimum fund requirement to trade?
Eugene: The minimum deposit amount is $50. eToro offers the following methods for funding the real accounts: Credit Card (Visa, Master Card and Diners Club, AMEX*), PayPal, Neteller, MoneyBookers, WebMoney.
Eugene: *AMEX can be used either directly via MoneyBookers (no MB account necessary. ), or by opening a PayPal account (subjected to their own terms) Please note – via MB there is no support for AUD deposits.
Eugene: We also offer you to fund your account via Western Union, MoneyGram and Wire Transfer with a minimum deposit of $500. You can find all necessary information about funding your account on the following link:
Rajandran: Does Opening an account requires any Identification Proof or any other supporting documents?
Rajandran: So If Iam a paypal account holder and if iam trying to withdraw my money from etoro account…. How long it takes?
Eugene: 5 business days
Rajandran: What does the software contains? Does it supports technical realtime Charts?
Eugene: it does have charts
Eugene: The link below will allow you to download the platform and to start with the eToro trading.
Rajandran: Where to find out the brokerage details?
Rajandran: Is there anyAccount Suspension Policy?
Eugene: it’s a very general question
Eugene: can you be a bit more specific>
Rajandran: I mean is there any minimum margin need to be maintained in the account….? And what happens to my account if iam not trading for months?
Rajandran: will my account got banned?
Eugene: and no
Rajandran: Oh Thanks! Is the software Highly Secure while transaction?
Rajandran: And where to find the list of financial Instruments that i can trade and the margin requirement details?
Rajandran: Will i get my transaction details via postal?
Eugene: You can address our website for information regarding how to start with eToro’s trading platform
Eugene: If you have any further questions – please do not hesitate to contact us again and we will be happy to asisst you.
Will there be any legal issues? Kindly present your views if you have any trading experience with E-Toro.