eToro broker review – Experience, Fees and more 2020

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Contents

eToro Review 2020

Summary

Recommended for traders interested in social trading (i.e. copying other investors’ trades)

eToro is a well-known Israeli fintech startup, a social trading broker established in 2007.

eToro serves UK clients through an entity regulated by the Financial Conduct Authority (FCA), Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot entity that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its site and does not have a bank parent.

eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech startup.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

We selected eToro as Best broker for cryptos and Best broker for social trading for 2020, based on an in-depth analysis of 57 online brokers that included testing their live accounts. Check out the complete list of winners.

eToro pros and cons

eToro offers commission-free stock and ETF trading in Europe and offers generally low fees for non-EU clients. Account opening is fast and seamless. It has innovative features like social trading, which lets you copy the strategies of other traders.

On the negative side, eToro’s forex fees are high and the withdrawal is slow with a $5 fee charged. Also, it only offers one account base currency.

Pros Cons
• Free stock and ETF trading in the EU • High forex fees
• Seamless account opening • Withdrawing money is slow and expensive
• Social trading experience • Only one account base currency
eToro main features and highlights
��️ Country of regulation UK, Cyprus, Australia
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $5
�� Minimum deposit $200
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 1
�� Demo account provided Yes
��️ Products offered Stock, ETF, Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

eToro review
Fees

eToro offers free stock trading in Europe and has low CFD fees. On the negative side, forex trading fees are high and there is a fee charged for inactivity or withdrawal.

Pros Cons
• Free stock and ETF trading in the EU • High non-trading fees
• Low CFD fees • High forex fees
• Withdrawal fee
eToro fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.75 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 3 is the average spread cost.
EURUSD High The fees are built into spread, 3 pips is the average spread cost.
Inactivity fee Low $10 per month after one year inactivity

How we ranked fees

We ranked eToro’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

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To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of eToro for each asset class. For example, in the case of forex and stock index trading spreads, commissions and financing rates are the most important fees.

We also compared eToro’s fees with those of two similar brokers we selected, Plus500 and MarketsX. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of eToro alternatives.

To have a clear overview of eToro, let’s start with the trading fees.

eToro trading fees

eToro trading fees are low.

We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for eToro fees.

Stock fees and ETF fees

As a unique service on the market, eToro offers zero-commission stock and ETF trading for European clients. eToro, which is primarily a CFD broker, also lets you trade with real stocks and ETFs if you set the leverage to one. For non-EU clients, there is no zero-commission trading, but eToro charges low fees, i.e. the spread (the difference between the ask and the bid prices) is low. If you set the leverage higher than one, you will be trading with CFDs.

Stock and ETF commission of a $2,000 trade

eToro IG XTB
US stock $0.0 $15.0 $10.0
UK stock $0.0 $9.6 $10.0
German stock $0.0 $11.0 $8.8

CFD fees

eToro has generally low CFD trading fees. Compared to its closest competitors, its fees are roughly in the same range.

eToro CFD fees for a $2,000 long position held for one week

eToro Plus500 MarketsX
S&P 500 index CFD fee $2.4 $2.1 $2.6
Europe 50 index CFD fee $2.7 $1.3 $2.5
Apple CFD fee $6.3 $8.9 $6.4
Vodafone CFD fee $7.6 $6.7

Forex fees

eToro forex fees are high, although still lower than MarketsX’s.

eToro forex benchmark fees of a $20,000 30:1 long position held for one week

eToro Plus500 MarketsX
EURUSD benchmark fee $19.6 $17.9 $24.5
GBPUSD benchmark fee $16.2 $14.0 $25.0
AUDUSD benchmark fee $12.4 $12.6 $25.1
EURCHF benchmark fee $11.8 $9.0 $22.1
EURGBP benchmark fee $19.9 $14.6 $20.5

Non-trading fees

eToro has high non-trading fees, as it charges $10 per month after one year of inactivity, and its withdrawal fee is $5.

eToro non-trading fees

eToro Plus500 MarketsX
Account fee No No No
Inactivity fee Yes Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $25 $0 $0

eToro review
Account opening

Account opening at eToro is seamless and very fast.

Pros Cons
• Fast None
• Fully digital
• Low minimum deposit

Can you open an account?

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75% of retail CFD accounts lose money

Most likely yes, as eToro serves almost every countries except for 36 (of which a big chunk are African countries).

What is the minimum deposit at eToro?

In most cases the required eToro minimum deposit is $200 . It is different for the following countries:

  • If you are from Israel, it is $10,000.
  • For residents of Australia and the USA, the minimum first-time deposit is $50.
  • For residents of Russia, China, Hong Kong, Taiwan and Macau, the minimum first-time deposit is $500.

Account types

eToro offers two very simple account types: there is a live account, as well as a demo (or virtual) account, where you can try out the platform with play money.

How to open your account

The account opening process is hassle-free and fully digital. In addition, it is also very fast, as we were able to open an account within one day.

You have to start by registering with your email account or with your Facebook or Google+ account. And that’s practically it, you can immediately access the trading platform and start to trade with a $100,000 demo account.

If you want to go further and fund it with real money, you have to verify your identity and residency by uploading the required documents:

  • Proof of identity: a copy of your passport or personal ID.
  • Proof of residency: a copy of a utility bill or bank statement.

eToro review
Deposit and withdrawal

Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.

Pros Cons
• Credit/Debit card available • Only one account base currency
• No deposit fee • $5 withdrawal fee
• User-friendly

Account base currencies

eToro only allows USD accounts, which means that your funding will be converted by eToro to USD. For example, if you deposit EUR, a 0.025% fee will be applied at funding and the same fee will also be charged when you withdraw EUR. Alternatively, you can deposit in USD, e.g. using your credit card. In that case, your bank will make the conversion at its own rate.

Base currencies at eToro vs similar brokers

eToro Plus500 MarketsX
Number of base currencies 1 10 9

Why does this matter? For two reasons. If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.

A convenient way to save on currency conversion fees is opening a multi-currency bank account at a digital bank. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Deposit fees and options

eToro charges no deposit fees.

Similarly to other CFD brokers, there are a lot of depositing options:

  • Bank transfer
  • Credit/Debit card
  • PayPal
  • Skrill
  • Neteller
  • WebMoney
eToro deposit options
eToro Plus500 MarketsX
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

A bank transfer takes 4-7 business days, and there is no maximum deposit. In comparison, while credit/debit card and electronic wallet deposits are instant, there are per transaction limits: $40,000 in the case of credit/debit cards, and either $10,000 or $20,000 in the case of electronic wallets.

You can only deposit money from funding sources that are in your name.

eToro withdrawal fees and options

eToro has a $5 withdrawal fee, which is high compared to other CFD brokers. In addition, eToro has a $50 minimum amount limit on withdrawals.

Withdrawal options are the same as the funding options: you can withdraw money using bank transfer, credit/debit card or electronic wallets, similar to other CFD brokers.

eToro withdrawal fees and options

eToro Plus500 MarketsX
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee $5 $0 $0

How long does it take to withdraw money from eToro?

We tested withdrawal by bank transfer, and it took 2 business days.

How do you withdraw money from eToro?

  1. Click on the ‘Withdraw Funds’ tab in the left-hand menu.
  2. Enter the amount you wish to withdraw (in USD).
  3. Complete the electronic withdrawal form as required.
  4. Click ‘Submit.’

You can only withdraw money to accounts in your name.

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eToro review
Web trading platform

eToro offers a user-friendly and well-designed web trading platform. In addition, social trading is also available. On the other hand, the customizability is limited.

Pros Cons
• User-friendly • Limited customizability (for charts, workspace)
• Clear fee report
• Two-step (safer) login
eToro platforms to choose from
Trading platform Score Available
Web 4.4 / 5 stars Yes
Mobile 4.9 / 5 stars Yes
Desktop No

eToro’s platform looks like a modern platform should in this day and age.

The web trading platform is available in many languages:

eToro platform languages

Arabic Chinese (simplified) Chinese (traditional) Czech Danish
Dutch English Finnish French German
Italian Malaysian Norwegian Polish Portuguese
Romanian Russian Spanish Swedish Vietnamese
Thai

Look and feel

eToro’s trading platform is a pleasure for the eye. With its clean design and great functions, eToro did a great job of combining good design with functionality. The menus and buttons are where you expect them to be, everything is labelled correctly and the color scheme is pleasant.

It is hard to customize though, as the panels are fixed. One exception is the watchlist, which is easy to configure.

Login and security

eToro has an optional, safer, two-step login system. This can make it more complicated to log in, but in turn it provides you with added security.

Search functions

The built-in search is predictive and easy to use. Type in a company or product name and you can see the results. Also, you can search easily via tickers.

Placing orders

Placing orders is self-explanatory.

You can use the following order types: market, limit, stop-loss, trailing stop-loss.

If you are not familiar with order types, read this overview.

Alerts and notifications

You can set price alerts and notifications easily. eToro’s alert function lets you know when an asset reaches a price target, and you also get a notification when your order is fulfilled. On the web platform, this is in the form of an icon update or a browser notification. On mobile, it is a push notification.

Portfolio and fee reports

You will surely want to know how your portfolio is performing and how much fees you have paid. You can decide how you want to see your portfolio reports: a list of your assets or a pie chart showing your current portfolio.

Finding the fee report is quite complicated at first. Click on the ‘Portfolio’ tab, then go to ‘History,’ and under the gear icon at the top right, you can access and download your account statement. This is a well-structured pdf file showing all of your cash flows, including fees. When you are following someone, you will see all trades separately. However, fees are not added up, but listed individually per fee deduction.

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eToro review
Mobile trading platform

eToro’s mobile platform is well-designed and intuitive. It is a pleasure to use.

Pros Cons
• User-friendly • No Touch/Face ID login
• Two-step (safer) login
• Good search function

The eToro mobile trading platform is available for iOS and Android. We tested it with iOS.

It’s available in the same 21 languages as the web trading platform.

The mobile platform has the same great functionality as the web platform. It uses mobile-specific intuitive functions, such as push notifications or good touch interactions. For example, you can swipe left and right in your portfolio to access charts or open a new trade.

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75% of retail CFD accounts lose money

eToro review
Desktop trading platform

eToro does not offer a desktop trading platform.

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75% of retail CFD accounts lose money

eToro review
Markets and products

At eToro you can trade with CFDs and forex, as well as real stocks, ETFs and many cryptocurrencies. In addition, the broker also offers innovative services like social trading and CopyPortfolio.

eToro is primarily a CFD and forex broker. However, you can also trade with real stocks, ETFs, and a lot of different cryptos. eToro also has some nifty features, such as social trading (Copy People) and CopyPortfolio.

So, let’s break down eToro’s markets and products.

All non-leveraged buy positions for equities, ETFs and cryptocurrencies are traded as real assets. This means that when you buy stocks, ETFs or cryptos without any leverage (i.e. leverage is set to one), you will buy real stocks, ETFs and cryptos, not CFDs.

All other positions are CFDs:

  • leveraged buy positions and all sell positions of stocks, ETFs and cryptos
  • all positions of forex, commodities and indices

Within CFDs, in addition to the traditional way of trading, you can

  • follow and copy other traders’ trading (this is Copy People, also called social trading), or
  • invest in a compiled CFD portfolio (this is CopyPortfolio).

To learn more about CFDs, read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

At eToro, you can trade with an average number of products. For example, there are fewer stock CFDs available than at Plus500, another CFD broker. The same can be said about currency pairs and commodities. On the other hand, eToro offers a wider range of stock and ETF CFDs than its closest competitors, and you can also trade with many of the most popular cryptocurrencies.

eToro Plus500 MarketsX
Currency pairs (#) 47 70 55
Stock index CFDs (#) 13 33 11
Stock CFDs (#) 1,900 1,800 2,000
ETF CFDs (#) 145 92 42
Commodity CFDs (#) 6 22 17
Bond CFDs (#) 4
Futures CFDs (#)
Cryptos (#) 17 14 5

You can change the default leverage level of the products.

Changing the leverage manually is a very useful feature when you want to lower the risk of a trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in the case of stock CFDs. Be careful with forex and CFD trading, since the pre-set leverage levels are high.

CopyTrader

eToro has two distinctive innovations, both being great features, CopyTrader and CopyPortfolio.

CopyTrader is the so-called social trading feature. What is eToro really good at? Well, this is it! One by one you can copy the portfolio of traders who also trade with eToro. This can be quite useful. You can browse through the profiles of other eToro traders, checking their previous performance on an annual and a monthly level. Their portfolio is also public information. Additionally, eToro also applies a risk score to each trader. There are tons of more stats for each profile, like trades per week, average holding time, performance on charts, and you can also see their detailed profiles as well as their news feed comments. Imagine Facebook profiles, but with fewer inspirational and more market quotes.

The minimum amount you can invest in one trade is $200, while the maximum is $500,000. Furthermore, you can copy a maximum of 100 traders simultaneously.

There is one drawback of CopyTrader: you cannot close part of your position, only the full amount.

Disclaimer: Indicative prices; current market price is shown on the eToro trading platform. Past performance is not an indication of future results. The trading history presented is less than 5 years old and may not suffice as a basis for investment decisions. This post is not investment advice.

CopyPortfolio

CopyPortfolio is practically an investment fund, but under the hood it is a CFD portfolio. While with CopyTrader you were following one trader, with CopyPortfolio you can invest either in a theme or in a portfolio of top eToro traders.

  • Investing in themes means for example investing in a portfolio of big banks or cryptocurrencies. Practically, “Big Banks CopyPortfolio” consists of CFDs traded by the largest investment banks, such as Citi, Bank of America, HSBC or others.
  • The other way to invest via CopyPortfolio is to invest in a portfolio comprised of multiple “star” traders.
  • There is also a crypto CopyPortfolio available.

Disclaimer: Indicative prices; current market price is shown on the eToro trading platform. Past performance is not an indication of future results. The trading history presented is less than 5 years old and may not suffice as a basis for investment decisions. This post is not investment advice.

The proportion of CFDs in the specific CopyPortfolio is clearly indicated. You can check performance and asset distribution, and read the investment strategy. CopyPortfolios are built around a theme by eToro’s algorithms or by eToro external partners. This might all sound a bit complicated, but at the end of the day, this means you can invest easily in a quasi-fund. There is a minimum investment amount for CopyPortfolio, which is $5,000. eToro also checks your financial knowledge to determine whether CopyPortfolio is right for you.

Stocks and ETFs

If you buy non-leveraged stocks or ETFs, you are buying the real asset. Usually, this feature is not offered by other CFD and forex brokers. In that sense, eToro’s selection of 16 stock markets to access is great. However, compared to stockbrokers like Saxo Bank (

35 markets) or Interactive Brokers (

80), it is poor. There are also risks you should take into account when you choose stocks. Your capital is at risk.

eToro Plus500 MarketsX
Stock markets (#) 16
ETFs (#) 145

At eToro, you have access to the following 16 stock exchanges:

  • Amsterdam
  • NYSE
  • New York Tech
  • Euronext Brussels
  • Euronext Lisbon
  • Frankfurt
  • London
  • Paris
  • Madrid
  • Milan
  • Zurich
  • Oslo
  • Stockholm
  • Copenhagen
  • Helsinki
  • Hong Kong

Cryptocurrency

Cryptocurrency prices can fluctuate widely and are therefore not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework, such as MiFID. Therefore, when using eToro’s Cryptocurrencies Trading Service you will not get any investor protection.

Disclaimer: Past performance does not guarantee future results. Trading history presented is less than 5 years old and may not suffice as a basis for investment decision. Indicative prices; the current market price is shown on the eToro trading platform. Highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.

You can trade with a wide variety of cryptocurrencies on eToro’s standard trading platform, far more than at other brokers:

  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Ethereum Classic
  • Ripple
  • Litecoin
  • Cardano
  • IOTA
  • TRON
  • ZCASH
  • Binance coin
  • Dash
  • Stellar
  • EOS
  • NEO
  • Tezos
  • XRP

Technically, when you go long in any crypto, you will own the real coin. When you go short, it is a CFD.

eToro review
Research

eToro has good technical analysis tools. There are some analyst recommendations and market sentiment indicators available, but no comprehensive fundamental data.

Pros Cons
• Good interactive chart • No fundamental data available
• Trading ideas • No/poor quality news flow
• User-friendly
• Analyst recommendations

Research is available in 21 languages (the same languages that are available on the web and mobile trading platforms).

Recommendations

For some popular stocks, you can find recommendations, like analyst consensus (buy/hold/sell), average price target, hedge fund sentiment and insider trading sentiment. In some cases, you can also read the analyst reports. Unfortunately, these research features are available only for a very limited number of stocks.

Fundamental data

Some basic fundamental data on stocks is available on eToro’s platform. This includes the profile of the company and some very basic indicators and ratios such as P/E, EPS, dividend yield and beta. No fundamental data is available for asset classes other than stocks.

You can also sign up for a daily market analysis newsletter in which you get a useful list of the market highlights.

Charting

eToro’s charting tool is quite good and you can use many, ca. 70 technical indicators. We liked that charts are automatically saved, so you don’t have to waste your time setting up your indicators time and again. On the negative side, you can only see the data for the past ca. 6 months, no longer time horizon can be set.

News feed

The news feed is not really an official news feed, e.g. it is not like an integrated Bloomberg feed. Rather, it is like a market-themed Twitter feed, showing messages posted by eToro users and analysts. Hashtags (#) are used for themes and dollar signs ($) for assets. We were not a huge fan of this feature, but if your tastes differ you might like it.

More research info
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eToro review
Customer service

eToro customer service is good: you can reach it on several channels and get quick and relevant answers. On the flip side, you can’t reach them on weekends and it’s difficult to find the live chat service on the webpage.

Pros Cons
• Live chat • No phone support
• Fast response time • No 24/7 support
• Relevant answers • Difficult to find the live chat service

You can contact eToro’s customer service via live chat and a web-based ticketing system where you will get an answer by email. It was always quick and reliable when we tested it.

On the flip side, the customer service cannot be reached on the weekends, and it’s difficult to find the live chat function on the website as it is hidden under the FAQ under the ‘Help Center’ link.

eToro customer service, in theory, is available in all 21 languages the web and mobile trading platforms offer. We only tested customer service in English.

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eToro review
Education

eToro’s education tools are limited, with only some medium-quality videos about investing available.

Pros Cons
• Demo account • Basic educational videos
• Intro guide to the platform

For practice, you can use a demo account. Other education tools are not really strong at eToro. There is one short tutorial video on how to use the platform, and some basic educational videos about investing and the financial markets.

The content discussed is intended for educational purposes only and should not be considered investment advice.

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75% of retail CFD accounts lose money

eToro review
Safety

eToro is regulated by top-tier financial authorities like the FCA, ASIC and CySEC. However, it is not listed on any stock exchange, does not disclose financial information and does not have a bank parent.

Pros Cons
• Majority of clients belong to a top-tier financial authority • Does not hold a banking license
• Negative balance protection • Not listed on stock exchange
• Well-known fintech startup • Financial information is not publicly available

Is eToro regulated?

Yes, it is regulated by the Cyprus Securities and Exchange Commission (CySEC), the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC).

eToro is based in Israel and was founded in 2007.

Is eToro safe?

To be certain, we highly advise that you check two facts:

  • how you are protected if something goes wrong
  • what the background of the broker is

How you are protected

eToro operates three legal entities and serves customers based on their residency. This matters because the entity you belong to defines the amount of protection you get.

  • Citizens of the United Kingdom can open an account at eToro (UK) Limited and thus they will be protected by the FCA. If eToro becomes insolvent, eToro UK clients can expect to be compensated by the maximum amount of £85,000 guaranteed by the Financial Services Compensation Scheme (FSCS).
  • Australian clients are served by eToro Australia, which is regulated by ASIC, the Australian financial authority. ASIC however does not provide any obligatory investor protection for a pre-set amount.
  • Other investors will have their live trading accounts with eToro (Europe) Limited, which is regulated by the Cypriot watchdog, CySEC. The amount of investment protection coverage at eToro Europe is a maximum of €20,000. This threshold is set by the Cypriot Investors Compensation Fund.

Here is a handy summary table for easy comparison:

eToro investor protection

Country of clients Protection amount Regulator Legal entity
United Kingdom £85,000 Financial Conduct Authority (FCA) eToro (UK) Ltd.
Australia No protection Australian Securities and Investments Commission (ASIC) eToro AUS Capital Pty Ltd.
Other clients €20,000 Cyprus Securities and Exchange Commission (CySEC) eToro (Europe) Ltd.

There is no investor protection for cryptos.

eToro also provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection

Background

eToro was established in 2007. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. This means that it has already survived one crisis, which is a good sign. eToro is a privately-owned fintech startup, with owners including venture capital funds like Commerz Ventures Gmbh, the VC arm of Commerzbank, as well as Israeli US, and Chinese investors. eToro is lead by Yoni Assia, its well-known founder and CEO.

eToro is still considered a startup. It is not listed on any stock exchange and it also does not provide regular financial statements to the public. Hence, it is hard to know anything about its financial performance. It also does not have a bank parent, which could help provide capital to eToro in case of hard times. At the same time, being regulated by top-tier authorities is a great sign for eToro’s safety.

eToro review
Bottom line

eToro has zero-commission stock trading in Europe. Account opening is really fast and seamless. It has also a lot of innovative features, like social trading.

It has some drawbacks, though. Forex fees and non-trading fees are high, and eToro only allows USD accounts.

Overall, we would recommend eToro for its social trading feature and cheap stock trading.

Risk disclaimer

eToro is a multi-asset platform that offers both investing in stocks and cryptoassets, as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

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75% of retail CFD accounts lose money

eToro review
FAQ

How does eToro work?

eToro is primarily a CFD and forex broker, but you can also trade with real stocks, ETFs and many cryptocurrencies. It is well-known for its social trading feature, with which you can follow and copy the portfolio of a trader who also trades with eToro.

Who owns eToro?

At the time of this eToro review, it is a privately held company, therefore it is not required to publish its ownership structure. What we know is that eToro does not have any banking parent company (little chance for a bailout in case of bankruptcy), and it is currently operating under two legal names. The well-known founder and CEO of eToro is Yoni Assia.

eToro is funded by venture capitalists. Here are a few of them:

  • Anthemis Group, UK
  • BRM Capital, Israel
  • CommerzVentures GmbH, Germany
  • Cubit Investments, Israel
  • MoneyTime Ventures, USA
  • Ping An, China
  • Spark Capital, USA

Who regulates eToro?

eToro is regulated by financial authorities in Cyprus, the UK and Australia, corresponding to one of the three entities eToro operates under:

  • eToro (Europe) Ltd. – Cyprus – is regulated by CySEC (the Cyprus Securities and Exchange Commission) under license # 109/10, for servicing EEA (European Economic Area) member states, and countries outside of it.
  • eToro (UK) Ltd – UK – is regulated by the UK financial authority, the FCA (Financial Conduct Authority).
  • eToro (AUS) Capital Pty Ltd – is regulated by the Australian watchdog, ASIC (Australian Securities and Investments Commission).

How does eToro make money?

eToro makes money through various fees, and the trading services they provide on their website. Although eToro does not make its financial statements public, the main source of revenue for eToro is likely to be:

  • Spreads: Spreads are the gap between the price you and the broker buys/sells at. To put it simply, if an Apple stock costs $100 at market price, eToro will charge $100.1 for it. The difference of $0.1 per CFD is kept by eToro. For further info, read how CFDs work.
  • eTtoro overnight fee: For this, you need to understand two things, leveraged trades and loans. Leveraged means that you can trade with more money than you actually have. Let’s say you want to trade Apple with 1:10 leverage and you have $10. This means that using leverage you can buy $100 worth of Apple with your ten bucks, as the missing $90 will be lent to you by eToro, which will charge you a fee (interest) for this loan.
  • Other non-trading fees: eToro charges fees for several services on their website, which are not directly related to trading, also known as non-trading fees. Some examples of non-trading fees are:
    • Withdrawal fees ($5/transaction): pay to withdraw your money
    • Conversion fees: pay when eToro converts money to fund your account

Can eToro be trusted?

eToro is regulated by CySEC in Cyprus, ASIC in Australia, and the FCA in the UK. This is a good thing. eToro is not listed on any stock exchange, nor does it publish its financial data. Overall, Brokerchooser’s view is that eToro is not a scam, but it is not a fully transparent broker either.

How does eToro copy work?

eToro copy, a.k.a. CopyTrader, is a tool for social trading, which works by you copying the trading decisions of other people, or other people copying your trades. You can search for traders and other users, and see how their portfolio has performed historically. Once you found a trader of your liking, you can copy their every trading decision, which is handled automatically by the platform. You can decide how much money you want to invest in copying another trader, and you can close your investment whenever you wish. If you want, you can also make money by having other traders copy you.

Are eToro profits taxable?

If you make profits by trading on eToro, these can be subject to taxation laws and regulations. This always depends on the country of your origin. For further information about eToro and taxes, we recommend contacting your local tax authority.

Can I use eToro in the USA? Can I use eToro in Canada?

Currently, people from the USA cannot use eToro because US regulation (the SEC) does not allow brokers to provide CFD instruments (eToro is a CFD broker) for US residents. This means no regulated broker will accept retail clients from the USA to trade CFDs, so in this sense it is not only eToro that cannot serve US residents.

eToro cannot be used by the residents of the following countries:

  • United States of America (residents and citizens, including its incorporated and unincorporated territories)
  • Belgium
  • Canada (including Quebec & Ontario)
  • the Republic of Turkey
  • Japan
  • Brazil
  • the Islamic Republic of Iran
  • Democratic People’s Republic of Korea (DPRK)
  • Cuba
  • Sudan
  • Syria

When will eToro be available in the US?

The US SEC (Securities and Exchange Commission) does not allow CFD instruments to be sold to US citizens. Until this law does not change, eToro will not be allowed to operate in the US under its current business model.

eToro Review – Our Experience, Fees and more

eToro

  • Free eToro demo account
  • Simple and user-friendly platform
  • Good mobile trading platform
  • Many assets

Broker eToro is a very popular, innovative and trusted CFD broker that has been providing its services since 2007. eToro has gained the trust of millions of people from over 200 countries around the world. It is one of the main players in the online financial markets and its brand is a guarantee of quality services.

The eToro platform is intuitive, innovative, superbly secure and offers low fees. But what this broker builds on and the main reason why it is so popular is the eToro social trading platform. The broker allows its users to copy the trades of other traders, which is why even users without extensive knowledge of investing can become profitable. This type of trade copying is called social trading.

But is this way of trading really as simple as pressing CTRL + C and CTRL + V, or is etoro a scam? What are eToro’s fees and what are the reviews of real users?

You will learn this and much more in our detailed eToro review below!

eToro review table of content:

eToro broker platform

Of course, eToro is not the only broker offering social trading, but it is the biggest and most popular one among the users. In addition to copying eToro traders, you can of course also trade for yourself.

You don’t have to download and install any apps to be able to trade with eToro, because eToro works on a synoptic web platform. Their platform is not only brilliantly intuitive, but also fast and available in mobile versions for both Android and iOS.

The eToro platform offers the trading of hundreds if not thousands of stock assets, which of course include stocks, cryptocurrencies, indices and more. With the eToro broker, just as in any other platform, you can view basic information about each asset, that is, for example, current price graphs with adjustable parameters, technical indicators, and other various graphical tools.

Illustration of eToro Broker Trading Platform

As mentioned above, eToro does not only allow copying successful investors – this method is just one of the available options.

The elementary and common platform of the eToro broker (see above) does not provide you with much of an ability to customize given graphs, draw lines, or use indicators. To access the interactive, more advanced graphs, you need to open it by clicking the opposing arrows (“fullscreen”) in the top right corner.

Then you access the handy Pro Charts tool, in which you can enter anything, add indicators, or even compare two assets against each other (see below).

Just click on the pencil with the graph in the top right corner of the graph.

Enhanced Customizable Graph on eToro platform

Besides the aforementioned Pro Charts function, the eToro broker also offers many other great features that you will surely appreciate as a trader. These features include statistics, surveys, and the ability to talk to the community about given assets and know what the community is talking about (see the picture below).

“Channel” tab for McDonalds shares

What can you trade with on eToro?

eToro Broker manages and provides trading of hundreds of different assets. There is something of interest for everyone here.

The current and accurate list of all assets can be found on the company’s official website.

Here are some examples of assets that the broker currently provides:

  • Shares (e.g. Apple, Google, Facebook, and many others)
  • Commodities (e.g. gold, oil, gas, and others)
  • Forex (e.g. EUR / USD, USD / JPY, EUR / GBP and many others)
  • Cryptocurrencies (e.g. Bitcoin, Ethereum, Litecoin, and many others)
  • Stock Exchange – ETFs (e.g. Proshares Ultra S&P 500, SPDR Gold, Emerging Markets Index and many others)
  • Stock Index (e.g. Nasdaq, DAX, Dow Jones and many others)

eToro social trading

We’ve already stated at the beginning that eToro provides social investment, but how exactly does it work?

It is actually very simple.

There are tens of thousands of different traders who let their portfolio and trades be public for other traders to see.

You can then easily filter these traders by your own criteria and if you like one of them, you can copy their trades. You can compare traders to each other by their success, by trades, by profits, or by assessing the risk of their strategy.

Several traders who have met the eToro specified criteria and can be copied.

If you choose to use the trade copying feature and begin to copy the trader, all of his or her transactions will be reflected in your account. Therefore, all you have to do is allocate a portion of your capital to the copied trader, the minimum being $ 200 – however, you do not have to worry, as you can control your loss by setting a maximum loss value.

The CopyPortfolio platform works on a similar basis, but in this tool, you do not copy individual traders but groups of top traders.

eToro registration process

How to register and start trading with eToro? It’s pretty quick and straight forward.

The registration process is similar to that of any other broker.

You will be asked to fill in a few forms to which you must provide copies of personal documents such as your identity card or passport. To provide some kind of proof of identity is a basic condition of all regulated brokers. Some even require a “selfie” with the given document. This authentication is necessary for preventing money laundering.

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eToro demo account

Before you start trading with real money which you might lose, you may first want to try trading on eToro using their demo account. On this eToro demo account, you’ll be given $ 100,000 of so-called “testing” money.

This unlimited trial account will then allow you to test all your strategies, from copying other traders to your own investments with no risk at all.

There is very little difference between the demo account and the real one. All you have to do to begin trading with real money is transfer money to your credit via the Deposit Funds button, enter the amount, and then choose your payment method.

Deposit and withdrawal of money at eToro

How to deposit money to eToro? Recently, a lot of changes have been made to eToro’s deposits rules. The broker has increased and decreased the minimum deposit value several times within a relatively short time. The reason why? eToro has been enormously popular in 2020 and in order to maintain the quality of the services offered, the platform decided to increase its minimum deposits.

A few weeks later, eToro reduced its minimum deposits. So, the minimum deposits increased from $ 50 to $ 100, then to $ 200, $ 400, and in January 2020 the minimum deposit was $ 500.

Today, the minimum deposit is set to $ 200 and the minimum value of one transaction is $ 25. You can use classic methods of payment to deposit money with eToro, including credit cards, bank transfer, Skrill (skrill review), PayPal and more. The current list of available deposit and withdrawal methods can be found on the broker’s website.

How to withdraw money at eToro?

There is nothing complicated about money withdrawals at eToro. You can have the money sent directly to your credit card (bank account), PayPal account or by bank transfer. You can use the same methods for depositing. But be careful, each method has its own rules.

  1. You must have the money you want to withdraw from the account available. It cannot, therefore, be locked as margin in any of your open positions.
  2. Your account must be verified (you can tell by the green checkmark in your user profile). If it is not verified, you must provide your identity documents. You can learn how to do that here.
  3. The minimum withdrawal amount is $ 50.

eToro Fees

Every broker, stock exchange or exchange office charges fees. Unfortunately, this cannot be avoided – brokers need to make money somewhere. The good news is, these are no extreme amounts. The eToro Broker charges the difference between the purchase price and the spread price as a fee. Here are a few examples of fees charged for a given market:

  • Cryptocurrencies: From: 0.75%
  • Commodities: 2 – 45 pip
  • Forex: From 3 pip
  • ETF: 0.09%
  • Indexes: From 75 pip
  • Shares: From 0.09%

Be careful, there is a $ 25 withdrawal fee for eToro, which is half of the minimum $ 50 withdrawal. It is, therefore, better to withdraw larger amounts so that you do not have to pay for your withdrawal very often.

Inactivity Fee

In addition, eToro charges a fee for inactivity. So, if you don’t sign in to your real account for more than 12 months or into the trial account for more than 4 months, eToro will charge you $ 10 per month. However, it will do so only if you have the required balance left in your account. Once you sign in to your account, this inactivity fee will be canceled. All current fees can be found at the official eToro website.

How to start trading with eToro?

We are now almost at the end. You already know what the eToro broker platform looks like, what are the fees, how the demo account works and many other things. But how exactly do you start trading? Look below. The whole process can be summarized in 4 steps.

  1. Sign up
  2. Verify your account
  3. Transfer your trading resources
  4. Open a trade

Are you registered? Do you have enough money in your account? If so, trading is very simple. To enter the trade, click the Trade button and fill out the pop-up window, in which you enter the Amount, that is, for how many Dollars or Euros you want to buy the asset, choose the lever you want to use (1: 2 to 1:30), eventually enter stop loss and take profit and your trading order will be confirmed.

Of course, it is also possible to order trades, i.e. to plan for the future. For example, you can set the trade to open when the price reaches a certain level.

Wasn’t this eToro review sufficient for you? Do you have any other questions you don’t have the answers to?

Let us know in the comments and we will help you!

eToro Pros

  • Free eToro demo account
  • Simple and user-friendly platform
  • Good mobile trading platform
  • Many assets

eToro Cons

  • Minimum deposit 200 USD

eToro – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

eToro Review | Broker breakdown

December 5, 2020

eToro Review- Pros and Cons Uncovered

eToro is an innovative social trading platform that has gained widespread approval from major regulators in the UK, US, Australia, and the EU.

It offers unique sentiment indicators, as well as a simple interface, and reasonable fees.

If you’re a trader interested in social or copy trading rather than complex technical analysis, then we strongly recommend that you consider eToro as your broker.

Today, we’ll do an in-depth analysis of eToro as a forex broker, but before we dive into our analysis, its important to note that 75% of retail investor accounts lose money when trading CFDs with this provider.

Review summary:

Coming in at a score of 91%, eToro ranks amongst our top 5 best forex brokers.

It stands out from its competitors due to its unique sentiment analysis indicators.

A more competitive spread and efficient customer service would have seen this score shoot up into the high 90’s.

Pros:

  • Proprietary sentiment indicators driven by large community
  • Simple and efficient interface on web and mobile
  • Tier 1 regulator approved
  • Over 70 technical indicators offered

Cons:

  • No phone or live chat support
  • Uncompetitive spreads

Warning: 76.4% of retail CFD accounts lose money when trading CFDs with this provider

Is it Safe?

When it comes to regulatory approval, eToro passes the test with flying colors. It has gained approval from most of the major regulators. These include the CySEC (EU) the FCA (UK), the FinCEN (United States), and the ASIC (Australia).

Its record is not spotless though. In the past, it has been fined by the CySEC for undisclosed reasons, and it has been banned from operating in Quebec, for marketing binary options without being registered.

These are both minor infringements though, with the former resulting in a €50,000 fine and the latter amounting to a small beaurocratic dispute.

eToro is not publicly listed and thus does not disclose its financials. However, it has raised over $220 million in funding in the past few years. This would suggest that the company is well capitalized, and investors are happy with its financials.

Warning: 76.4% of retail CFD accounts lose money when trading CFDs with this provider

Commissions and Fees

eToro operates in a “no commission” structure for forex trading. This means that it does not charge a fixed cost per trade, but instead includes its fee in the spread, which varies according to market conditions.

In comparison to some of its peers, eToro underperforms when it comes to the spread. At publishing time, eToro was offering 3 pips on the EUR/USD, with some of its competitors offering spreads of under 1 pip.

It charges an inactivity fee of 10$ per month after 1 year of inactivity.

Beginner traders should also be aware of eToro’s 25$ withdrawal fee. If you have limited capital available, this fee can easily eat up your profits, so if you need to make small withdrawals frequently, you might want to consider another broker.

All in all, these are reasonable, albeit slightly above average, commissions.

Commissions and Fees Summary:

​eToro

Minimum Initial Deposit:

Inactivity Fee:

$10.00 / month after 1 year of inactivity

Spread:

Variable: 3 pips on the EUR/USD (Dec 2020)

Overnight Holding Fee:

(6.45% + LIBOR rate) / 365

Withdrawal Fee:

Platforms and Tools

As a tech startup with a focus on social trading, eToro’s web platform varies a bit from its competitors.

Instead of the typical widget-based dashboard with prominent charts and price tables, eToro’s dashboard is a simple list of your “watchlist” financial instruments, quoting the latest prices, % change, sentiment, and a small price chart.

This is a refreshing approach to the trading dashboard, which can be quite overwhelming. As soon as you login, you’ll get a sense of how the market and your positions are performing. Once you’re ready to start trading, you can move to the “trade markets” tab, which has a more traditional chart view.

eToro also offers an advanced charting tool called “procharts”. Here you’ll find a wide variety of technical indicators that we found to be among the best in the industry.

eToro Review

Dan Schmidt
Contributor, Benzinga

1 Minute Review

eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features

Best For

  • U.S.-based cryptocurrency traders
  • Derivatives traders outside the U.S.
  • Social and copy traders
  • Traders new to derivatives
  • Expansive network of social trading features
  • Wide range of CFD products
  • Large client base for new traders to imitate
  • Can only trade CFDs
  • U.S. traders can only buy and sell cryptocurrencies
  • Only 47 cryptocurrency pairs available

Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

eToro is at the forefront of the social trading revolution. Established in 2007, the company primarily supplies contracts for difference (CFDs) to traders looking to place bets on stocks, indices, currencies, commodities and cryptocurrencies.

eToro claims to have 10 million account holders worldwide. The social trading features are eToro’s strongest asset and the company has a feed similar to Twitter, so traders can really embrace the community aspects of the platform. But can eToro really compare with other brokers with more diverse asset class offerings? Let’s find out.

Who’s eToro for?

CFDs are advanced trading instruments and over 75% of retail clients lose money trading them on eToro. Even so, eToro makes it easy to learn with its social trading features and online courses.

CFDs are banned in the United States, which limits American traders to cryptocurrencies only. Forex trading is done with CFD products too, so unless you’re outside the U.S, you can’t use the platform to its full potential.

If you’re a derivatives trader outside the United States, you can purchase CFDs for stocks, indices, ETFs, commodities, currencies and cryptocurrencies. Traders in the U.S. can go long cryptocurrencies on the platform since eToro purchases the underlying securities when a buy order is placed. This is the only product not traded using a CFD.

eToro’s Platform and Tools

You can create a portfolio that gives you access to the eToro community and tracking stats like P/L and success rates. Your portfolio is on display to the entire network, so you’ll need to get over any bashfulness if you want to explore social trading on eToro.

Here are a few of its best features:

OpenBook

The original eToro trading platform known as WebTrader was combined with eToro’s OpenBook to create a sophisticated one-stop shop for all clients. OpenBook is not only a trading platform but a social app where you can view other users’ profiles, check out prices on all available markets and use eToro tools like CopyTrader or CopyPortfolios.

CopyTrader

This system is designed to allow new traders to easily pick out experts to imitate and supply funds for copy trades. You can copy up to 100 different traders at once and you’ll need a minimum of $200 to open up a live account. Setting up a trading strategy on CopyTrader can be accomplished with only a handful of mouse clicks or taps.

Just choose the trader(s) you want to copy, select a dollar amount and watch as the automated system begins methodically duplicating the experts’ trades. (Note: U.S. traders can only copy other U.S. traders.)

CopyPortfolios

The CopyPortfolios feature is actually a combination of two different strategies: Top Trader Portfolios and Market Portfolios. The Top Trader Portfolio allows you to copy traders using your specific strategy.

If you want to trade commodities, the Top Trader Portfolio links your account with successful gold, silver and/or oil traders. Market Portfolios do not involve other traders, but rather, bundle different CFDs under the umbrella of a particular market strategy. You’ll need $5,000 to get started with CopyPortfolios.

Social News Feed

All eToro clients get a specially tailored news feed that’s a lot like a Twitter feed. You can post updates, discuss strategies and tag other users to start conversations. The news feed also provides alerts when markets get volatile or when a trader you copy creates a new post or trade.

Mobile App

eToro’s mobile app is available for both iOS and Android operating systems. Users can get access to all the markets and features available on the desktop platform, including the CopyPortfolios features.

eToro’s Research Offerings

CFDs are complex financial products and eToro understands that there could be a steep learning curve for some new traders. The brokerage has set up an education center with actionable info for both experienced veterans and newbie traders.

Two online e-courses are available:

Trader Course

Trader Course provides information on basic forex terms, order types and a few basic strategies. It’s complete with a financial concepts glossary.

Investor Course

You’ll learn more about the nuances of global trading in this course, but it also covers capital management and the different ways to analyze financial products, including advanced technical analysis.

If you don’t have time for e-courses, you can peruse the list of instructional videos or sign up for one of eToro’s many live trading webinars. If you’d rather read something the old-fashioned way, eToro’s blog also covers all the fintech news of the day.

eToro’s Commission and Fees

eToro has no commissions or trading fees, only spreads. But since all markets use CFDs as trading instruments, spreads tend to be higher than average. Stock and ETF CFD purchases come with a 0.09% spread on both sides. The U.S. dollar index CFD has a spread of only 4 pips, but SPX contracts are 75 pips, NSDQ contracts are 240 pips, and contracts on indices from countries like China and Japan can top out at a whopping 1,200 pips.

Commodity spreads are lower, with copper at 2 pips, oil and silver at 5 pips, natural gas at 10 pips, and gold at 45 pips. For currency pairs, spreads range from 1 pip to 50 pips. EUR/USD and USD/CAD are both 3 pips, USD/JPY is 2 pips, and AUD/USD is 1 pip. Exotic pairs like USD/ZAR and USD/TRY are 50 pips.

No fees apply to unleveraged cryptocurrency buy orders, but shorts and leveraged buys are subject to spreads. Bitcoin has the lowest spread at 0.75%, Ethereum and Litecoin are 1.9%, and Ripple is 2.45%.

Additionally, eToro charges a $25 withdraw fee and overnight/weekend fees. Withdrawals must be at least $50.

eToro’s Security

eToro is registered with the Cyprus Securities and Exchange Commission (CySEC) and the British Financial Conduct Authority (FCA). Additionally, FinCEN in the United States and the Australian Securities and Investment Commission (ASIC) recognize eToro as a licensed broker. Client funds are kept in top tier European banks.

Client data is protected using top of the line data encryption and firewall technology. Specific information about clients can only be accessed by authorized eToro employees. When depositing or withdrawing money, customer transactions are protected by secure socket layer (SSL) technology.

eToro’s Customer Support

Contacting customer service on eToro is an adventure. eToro’s preferred method of contact is a support ticket, where you send a message to an automated system.

If you want to reach eToro via email or phone, you’re out of luck. No email addresses or phone numbers are listed on the main customer service page. For corporate inquiries, eToro has addresses listed in Hoboken, London and Sydney, but only the Australian office has an email address and phone number listed. If you need to troubleshoot your eToro account, expect to wait for a response.

eToro’s Tradable Asset Classes

eToro offers a number of tradable markets, but there’s a catch involved. Only CFDs are traded on eToro, not the underlying assets. Even with currencies, eToro clients purchase CFDs in order to trade. This could be a sticking point for some users who would prefer to own the actual currency pairs themselves. However, if you don’t mind using CFDs as your primary trading vehicle, there are plenty of options to choose from.

CFDs are available for:

  • Stocks: Hundreds of shares can be traded; mostly large-cap U.S. companies.
  • ETFs: Offers funds from companies like iShares, Pimco and State Street Advisors.
  • Indices: Trade all 3 major U.S. indices (DJIA, S&P 500 and NASDAQ) along with international indices like the DAX, FTSE and Nikkei.
  • Commodities: Contracts for gold, silver, copper, platinum, oil and natural gas.
  • Currencies: 47 different pairs can be purchased, including some minor pairs like GBP/NZD and USD/MXN.
  • Cryptocurrencies: 10 different cryptocurrencies are available. Unlike other eToro products, cryptocurrencies don’t require CFDs to purchase and U.S. traders can access these markets through eToro. Short selling of cryptocurrencies is not allowed in the U.S.

eToro’s Ease of Use

eToro’s platform is simple yet highly interactive. New users won’t have any trouble learning the basics and experienced traders can execute multiple trades quickly.

Your watchlist, portfolio and newsfeed are all accessible on the main sidebar. Navigating from market to market is simple and you’ll quickly build a base of users to follow and interact with.

The social trading experience is still a new phenomenon, but eToro makes it easy to get involved and copy the users you want to imitate. Entry barriers are light, too. You only need $200 to open an account and can begin trading instantly (most markets are open 24/5).

Final Thoughts

Social trading is on the rise, and eToro has put itself ahead of that curve. You no longer need decades of experience to trade like a pro. The platform is highly functional, without a steep learning curve and interactions with other users are very similar to Twitter.

But eToro is also expensive and forces you to trade CFDs, which are highly speculative products. Contacting customer support is also a chore. Even though copy trading makes it seem easy, it’s really important that you know what you’re doing on eToro so you don’t lose your hard-earned cash.

Disclaimer: eToro is a multi-asset platform which offers both investing in stocks andcryptoassets, as well as trading CFD assets.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Cryptoassets are unregulated and can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptoassets is not supervised by any EU regulatory framework. Past performance is not an indication of future results.

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eToro Review 2020

Regulated By: ASIC, CySEC, FCA, MiFID

Foundation Year : 2007

Headquarters : Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus

Min Deposit : $200

62% of retail CFD investors lose money

Latest Tweets by @etoro

Open UBI Ecosystem Launched by GoodDollar and Partners in Berlin

At Web Summit 2020, in early November, Yoni Assia, Chief Executive of eToro, announced the launch of GoodDollar: an ecosystem-led project that explores how cryptocurrency and blockchain technology may reduce inequality through models based on universal basic income (UBI).Less than two weeks later, on November 19, GoodDollar’s first community event

eToro Brings Bitcoin to Football

Seven Premier League clubs to be paid in cryptocurrency in landmark partnership deals with eToro

Two Leaders in Their Fields Join Forces: eToro is Eintracht Frankfurt’s New Premium Partner

The current German Cup winner Eintracht Frankfurt has a new Premium Partner: eToro. eToro continues to successfully expand in the German market, recently completing a $100 million Series E round of financing and presenting strong growth in the first quarter of 2020. The partnership with Eintracht Frankfurt was signed for

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