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The details and statistics provided in this review do not apply to US customers, where there are likely to be differences to eToro services due to regulation of jurisdiction.

eToro is a popular social trading platform, which offers direct access to multiple asset classes, including shares, ETFs, indices, commodities, and cryptocurrencies.

The service is regulated by a number of prominent bodies, including the UK’s Financial Conduct Authority (FCA), and is currently available in 19 different languages. Keep reading to find out everything you need to know before signing up and using eToro.

The platform’s primary focus is on providing investing and copy-trading services. According to our reviews, eToro is currently the largest social trading platform in the world, with more than 13 million registered users making millions of trades each day. It also supports mobile-based trading along with a wide assortment of features and free educational materials.

eToro was founded in 2007 with the bold ambition of “disrupting the world of trading”. Since that time it has launched the first social trading platform in 2010, and CopyPortfolios, which are managed portfolios that bundle top eToro traders or various assets under a single market strategy. This means you can use the broker to make your own trades, and also to follow those of others.

It’s an online broker that offers both one of the best stock trading platforms and powerful stock trading apps. Through both of these, users can access six distinct asset classes and a couple of thousand instruments with each, as well as zero commission trades on certain stocks.

What assets and products can you trade on eToro?

Users of eToro can trade more than 2,000 CFDs, covering both major and minor forex pairs, ETFs, shares, indices, commodities, and cryptocurrencies. Here’s a summary of all of eToro’s trading options:

What cryptocurrency pairs can be traded on eToro?

eToro has significantly expanded its crypto offers and now you trade popular coins such as Bitcoin, Ethereum, or XRP (Ripple), along with tokens that have gained traction recently, like Solana, Decentraland, or Chiliz. As of June 2022, eToro has more than 60 coins available to buy. You can also trade crypto coins through different crypto crosses, currency crosses, and even commodity crosses.

What leverage trading options are there?

On all CFD trades, eToro offers leveraged trading options. However, the amount of leverage you can get will depend on the asset you’re trading – starting from 1:30 for forex. Please note that leveraged trading is highly risky and is not recommended for beginners. Readers are recommended to use leverage with caution and only once having gained some experience of online trading.

What are the spreads?

eToro offers floating spreads across all its account types, and makes its money from these spreads rather than commissions. This means that eToro’s profits are made from the difference between the price they charge for buying an asset (the bid price) and the price at which they will sell it to users (the ask price). 

Here’s a breakdown of the spreads you can expect with eToro (as these are all variable, they are subject to change over time and depending on market conditions):

What are the minimum spreads for buying and selling cryptocurrencies?

The broker allows trading of major cryptocurrency altcoins, and the spreads associated with these differ slightly from the regular spreads on eToro. A fee of 1% is calculated for buying or selling crypto assets on eToro. However, do note that the website outlines that these spreads may change based on market conditions and liquidity.

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What are the deposit and withdrawal fees, limits, and speeds?

There are a range of deposit and withdrawal options on eToro. The platform does not charge any fees for deposits, but withdrawals however are charged at $5 USD per withdrawal. Minimum & maximum limits are imposed on deposits but only minimum limits are imposed on withdrawals (but you may encounter maximum withdrawal amounts with your payment service provider).

A minimum deposit of $200 USD to $1000 USD is mandatory for all payment types and the minimum withdrawal amount is $30 USD. These numbers remain the same across GBP, EUR, and AUD. Here’s a full summary of the payment methods available, and the restrictions for each:

How much are eToro fees and commissions?

eToro charges different fees and commissions depending on which asset you trade. For the most part, the platform makes its money through spreads only, but there are fees for certain actions. Users can expect both overnight and inactivity fees, for example, unless share dealing or trading ETFs, which are exempt from overnight fees. 

It is also important to be aware that triple overnight fees are charged on some CFDs on either Friday or Wednesday depending on the individual CFD in question. In addition, a withdrawal fee, currency conversion fee, and inactivity fee can be charged. Here’s a breakdown of all the fees you can expect when using eToro:

eToro trade sizes and limits

The minimum trade starts at $10 for stocks, ETFs, and crypto, and goes up to $1,000 for most other assets. Maximum lot limits are not mentioned and vary according to the instrument traded. There are no also restrictions on the number of trades you may place in a day. 

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What devices can I use eToro on?

With a dedicated mobile app and user-friendly online platform, eToro offers several options for accessing the platform. Users can log into and use eToro on:

Can I use eToro in my country?

eToro is available across the world. However, due to legal restrictions, some of its features & services are not available in certain jurisdictions. Currently, eToro is available in over 50 countries, including:

Is eToro available in my language?

eToro’s website and mobile app are currently available in 19 languages. Here is a complete list:

How easy is it to use eToro?

eToro’s web platform and mobile apps are intuitive and easy to use, with simple functions and a user-friendly layout for both. The platform has a very intuitive signup process and also offers a free demo account so new users can learn their way around without risking any of their money (we thoroughly recommend using this feature before starting to trade on eToro)

Additionally, copy trading (the broker’s most popular feature) is similarly easy to pick up and get started with. Allowing you to choose a trader, set a trade amount, and copy in three simple steps. 

In the small chance you encounter any difficulties, there is an entire support section with multiple resources to guide you back on your path, and eToro’s customer services team is both responsive and helpful.

Key features

The eToro platform hosts many features for beginner users. We have selected the top three key features on the eToro platform for you:

Copy Trading

One of eToro’s flagship offerings is its ‘Copy Trading’ service. This is a social trading feature that lets you choose specific traders to follow. With this, you can track their trading performance over a weekly, monthly, or annual basis. You are also provided with useful information and statistics such as average holding time, trades per week, news feed comments, and a profile description.

You can also follow accounts without copying and post comments or reactions on their social feeds. When copying an account using CopyTrader, you have full control over how much you are prepared to risk and the service is free. The overall feature ultimately creates a sense of community within the trading platform, as traders are encouraged to interact with each other often.

To further encourage top investors to allow copy trading, it has launched a Popular Investors program whereby top investors will be paid some amount (fixed amount or a percentage of AUM depending on the plan) every month. This incentivises top investors to participate and boost the platform’s overall engagement.

CopyPortfolio

CopyPortfolio are CFD-based portfolios (grouped funds, basically). Unlike in Copytrade where you might have been following a specific trader, CopyPortfolio lets you invest either in an eToro trader’s portfolio or in a theme. Investing in themes is exactly what it sounds like. For instance, investing in ‘Big Banks CopyPortfolio’ allows you to directly invest into a mix of assets including Bank of America, Citibank, HSBC, and other big banks.

Money Account

Separate and distinct from an investment account, eToro offers the ability to use its platform much like a bank. An eToro money account is very similar to a checking account, in that it will hold your cash, convert it to other currencies, and you can both send and receive funds to any bank account (currently limited to UK bank accounts).

eToro club members can also obtain a Visa debit card, so they can spend funds in this account anywhere, anytime.

Is eToro safe?

eToro is a safe broker to use; it complies with multiple regulatory regulations in different jurisdictions, keeps clients’ funds separate from its own, and has rules to protect client data. This means you won’t find many safer online brokers than eToro.

Am I and my funds protected?

eToro is a member of the UK’s Financial Services Compensation Scheme (FSCS) and Investor Compensation Fund (ICS), hence traders in this jurisdiction are protected for the maximum amount by each scheme (currently up to £85,000). 

The broker also keeps your funds in a different bank account. This is important as eToro cannot use clients’ funds to operate its business. Segregated funds also add safety to users in case the broker goes bust, as client’s money is protected in tier-1 banks. 

Apart from this, eToro carries investor insurance in EUR, AUD, and GBP denominated amounts should it ever go under and users need to be reimbursed.

Is eToro regulated?

Yes, eToro is regulated by several authorities across the world. Below are the licences and registrations it holds:

Its regulations cover a wide range of jurisdictions and assets. For example, its cryptocurrency services are covered by its licence in the Netherlands, while its FCA and CySEC licences allow it to offer services across the European region. 

Do I have to verify my account with Etoro?

Yes, users have to verify their account information as eToro is a licensed and regulated broker and verification is necessary for KYC (Know Your Customer) purposes. You will need to provide proof of ID and proof of address to open an account with eToro.

Educational resources 

The eToro “Learn More” section offers a plethora of news articles, analysis features, and financial market guides. In addition to this you’ll also find a full trading academy containing videos, daily market updates, and even classroom teaching, webinars and podcasts etc. catering primarily to beginners. Most of the material is based on forex and CFD trading, but the lessons apply equally to other types of trading as well.

Tools and charting

For a broker whose primary demographic is new traders, eToro has a surprisingly large number of tools and charts of advanced traders.

Procharts is one of these, which is a professional grade technical analysis tool allowing comparison across different instruments and timeframes. Additionally, the mobile trading app offers tools like one-click trading which allows repetitive trades to be placed instantly, and a research tab that collects analyst insights and recommendations among other more basic functions.

Customer support

eToro provides a customer service portal on their website where you can raise a ticket which will be resolved by a member of the support team within 24 hours normally. They also provide a live chat feature on the website for more urgent requests.

With any investment there is the risk of losing your money. eToro makes financial trading and investing more accessible but a service that is so easy to use can ‘gamify’ the process, so you must be careful to do your due diligence before making any trade. Some more potential risks are listed below:

Overall, eToro is an innovative CFD trading platforms that has also expanded into stocks and ETFs. It makes available some 2,000 CFDs across 6 asset classes along with the ability to trade in some assets directly, and is one of the most user-friendly brokers you can find.

The crypto trading platform could offer a few more assets to trade, but what it lacks in this respect and in advanced features, it makes up with innovation by offering a Copy Trading function, whereby regular users can effectively follow trades from experienced pros and zero commission stock trades – something most cryptocurrency brokers do not offer. 

As with any service, there are fees to pay, and eToro’s come out a little higher than average. Starting with its high fees for withdrawal ($5), overnight trades (variable), and inactive accounts ($10 per month). Overnight fees are also sometimes tripled on a set day each week depending on the CFD instrument being traded. Additionally, the spreads offered are a bit on the higher side and there are brokers that offer higher leverage.

At the end of the day, if you are looking for a social trading broker, then this is the best platform for that. While the fees are a little higher than some other platforms, they’re far from unreasonable considering how well designed and respected the broker is. More experienced traders might consider looking for a service that caters more specifically to experts – but new investors won’t find many better options than eToro.

68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

When we review a broker we create a standard account and perform a series of tests to understand how it works. The tests include making a deposit and withdrawal, placing a buy order, and contacting customer support. We then attempt some more advanced actions, such as shorting or placing a leveraged trade.

We rate how the broker performs for each action on a scale, based on how easy and intuitive it is, and whether there are any restrictions. The design of the website and cost of each action plays into the final ranking. We then attempt to do all of the same actions from a mobile device.

Once we have an rating for each category, we research the broker online to find customer reviews and to answer any other questions we might have. All those factors combine to give the final rating out of five stars.

Bit Index AI

• 1Pros u0026amp; Cons
• 2Working with eToro?
• 3eToro Markets
• 4eToro Pricing
• 5Trading Platform
• 6Security
• 7Extra
• 8Risk
• 9Verdict
• 10Methodology
• 11FAQs