Etoro review: Etoro is one of the most innovative and progressive brokerage companies founded in 2007. It has more than 20 million registered users in more than 100 countries. Etoro has received awards, including “Best Broker for Social Trading” from the UK Forex Awards and “Best Broker for Cryptocurrencies” from Finance Magnates.
One of Etoro's main advantages is social trading, which allows users to copy trading strategies of successful traders. The company also provides a wide range of assets, including currency pairs, cryptocurrencies, indices, stocks and commodities, available on Etoro's trading platforms.
The platform is a regulated brokerage company that provides a high level of customer protection. It is licensed by a number of regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Conduct Authority (FCA).
Awards:
| 💵 Currency: | USD, EUR |
| 💰 Min deposit | From $50 |
| ⚖️ Leverage | 1:30 (Forex 1:400) |
| 💱 Spread | Floating from 0 pips |
| 💹 Markets | Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, Metals, Cryptocurrencies |
| 📱 Mobile apps | iOS, Android |
| 🗺️ Headquarters | Limassol, Cyprus |
Overall eToro Review
The user interface of the eToro mobile app is easy to use and allows you to trade on the move. However, if you are looking for more diverse options for customer support, you may be better off considering other brokerage companies. Overall, eToro is an attractive choice for those looking for a social broker with a wide variety of markets and trade copying features.
Go to eToro website
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Geographic Distribution
Geography of clients (traders) of eToro
Top Reviews
Best customer reviews of eToro
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I am very satisfied with this broker. Their trading platform is intuitive and easy to use. I also received excellent support from their customer service team, who resolved all my questions quickly and professionally. I recommend eToro to anyone looking for a reliable broker.
UK
Great platform! I can say that it has a good interface and many tools for trading. I also appreciate their social trading, which allows me to copy trades of successful traders. However, I am not very happy with their commissions and hidden costs, which can have a negative impact on my profits.
Spain
I cannot recommend the eToro platform because of their high commissions. In addition, I did not like their customer support, which does not always answer my questions quickly and efficiently. Even though the platform has a user-friendly interface and many tools for market analysis, I would not risk my savings on this platform.
Germany
Expert Review
Expert eToro Review
eToro is one of the most reliable and secure trading platforms on the market. The company has all necessary licenses and is regulated in accordance with the laws of the country where it is registered. In addition, they use state-of-the-art security technology to protect their clients' personal data and prevent fraud. I also appreciate their transparency regarding the commissions and charges they provide to their customers. Overall, I recommend eToro as one of the best trading platforms on the market.
Financial expert and analyst at TradersHero.com
Risk Warning! Etoro also has its own set of risks to be aware of. These include market volatility, which can result in sudden and significant price movements, as well as the risks associated with the use of leverage. As a social trading platform, Etoro also allows for copying other traders, but it's important to note that past performance is not necessarily indicative of future results, and it's crucial to conduct your own due diligence before following another trader.
Copy Trading
Investment Programs
eToro's copy trading feature, also known as CopyTrader, allows users to automatically replicate the trades of successful traders on the platform. This feature is particularly useful for novice traders who want to benefit from the knowledge and expertise of more experienced traders. The platform's social trading network allows users to browse through the profiles of successful traders and view their trading history and performance statistics before deciding to copy their trades. Once a trader has been selected, the user can set their preferred level of investment and automatically replicate the trader's positions in real-time.
CopyTrader on eToro allows users to automatically copy the trades of top-performing traders.
eToro's CopyTrader feature also includes a number of risk management tools that help users minimize potential losses. These tools include the ability to set stop loss and take profit levels, as well as the option to manually close trades at any time. Additionally, eToro's social trading network allows users to interact with other traders, ask questions, and share trading strategies.
While eToro's copy trading feature can be a powerful tool for generating profits, it is important for users to understand the risks involved. Copying the trades of other traders does not guarantee profits and may result in losses. Therefore, users should carefully review the trading history and performance statistics of traders before deciding to copy their trades, and should also take advantage of the risk management tools offered by the platform.
One unique aspect of eToro's copy trading feature is the CopyPortfolios program, which allows users to invest in a diversified portfolio of top traders, rather than just copying the trades of a single individual. CopyPortfolios are professionally managed and designed around a specific investment theme, such as technology, commodities, or emerging markets.
Best Copy Trading Platforms
Disclaimer: Trading in financial markets carries risks, and it's important to carefully consider your investment goals, risk tolerance, and financial situation before engaging in any trading activities. Past performance is not indicative of future results, and the information provided in this article is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
Conditions
Trading Conditions for eToro Traders
Trading Terminals:
At eToro, traders can choose from a variety of trading instruments, including cryptocurrencies, stocks, commodities, forex, and indices. The minimum deposit required to open an account is $50, and the maximum leverage can go up to 1:400 for certain instruments.
Traders can choose from different trading platforms, including the eToro WebTrader, eToro Mobile Trader, and the MetaTrader 4 (MT4) platform. The spreads offered by eToro are generally competitive, and the company does not charge any commissions on trades.
The platform also offers a range of trading tools and features, such as CopyTrader and CopyPortfolios, that allow traders to automatically copy the trades of other successful traders or invest in pre-selected portfolios.
In terms of funding options, eToro offers a variety of methods, including credit/debit cards, bank transfers, PayPal, and other electronic payment methods. Withdrawals are generally processed within one business day, and the company does not charge any withdrawal fees.
eToro is regulated by several reputable financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC), among others. The company also follows strict security protocols to ensure the safety of clients' funds and personal information.
| 💵 Currency | USD, EUR |
| 💰 Min deposit | From $50 |
| ⚖️ Leverage | 1:30 (Forex 1:400) |
| 💱 Spread | Floating from 0 pips |
| 💹 Markets | Forex, Stocks, Indices, ETFs, Soft Commodities, Energies, Metals, Cryptocurrencies |
| 📱 Mobile apps | iOS, Android |
| 💵 Replenishment / Withdrawal: | Visa/Mastercard, bank transfers, electronic payments (Skrill, AstroPay, Neteller, AdvCash) |
| 🏦 Broker Type: | ECN, Market Maker, Dealing |
| 📞 Customer Service | Forums, Call Back, Phone, Chat, Email |
| 👩💼 Support | Multilingual |
| 👨💼 Personal Account Manager | ✅ |
| 🔁 Copy Trading | ✅ |
| 🔓 Demo account | ✅ |
| 🗺️ Headquarters | Limassol, Cyprus |
Risk Warning
Comparison
Comparison of eToro with other Brokers
Top 3 Broker comparison table of trading instruments
Commissions
eToro Accounts, Commissions & Fees
The platform offers three types of accounts for traders: Real, Demo and Islamic. The real account is the main account where traders can trade in the market with real money. The demo account is designed for training and allows traders to test their strategies without the risk of losses. The Islamic account is for Muslim traders who cannot earn or pay interest due to religious beliefs.
Commissions on eToro depend on the type of assets traders want to invest in. For example, the commission on stock trading is 0.09% of the transaction amount and 0.75% of the transaction amount on cryptocurrency trading. The withdrawal fee is $5 per transaction, and the deposit fee depends on the payment method selected.
eToro also charges some fees for holding positions overnight, which are called “rollover fees”. These fees can either be credited or debited to the trader's account, depending on which way the market moves. In addition, eToro also charges some hidden fees, such as the difference between buying and selling, also known as the spread.
| Club | SILVER | GOLD | PLATINUM | PLATINUM+ | DIAMOND |
|---|---|---|---|---|---|
| Tier balance required | $5K | $10K | $25K | $50K | $250K |
| Club Dashboard | ✅ | ✅ | ✅ | ✅ | ✅ |
| Dedicated Account Manager | ✅ | ✅ | ✅ | ✅ | ✅ |
| Daily Market Summary | ✅ | ✅ | ✅ | ✅ | ✅ |
| Live Webinars | ✅ | ✅ | ✅ | ✅ | ✅ |
| Exclusive data-based Smart Portfolios | ✅ | ✅ | ✅ | ✅ | ✅ |
| Crypto Staking | 85% | 85% | 85% | 90% | 90% |
| ETH 2.0 Staking | 85% | 85% | 85% | 90% | 90% |
| eToro Tax Report | ✅ | ✅ | ✅ | ✅ | ✅ |
| Discounted Tax Return | 5% | 10% | 15% | 20% | 25% |
| Delta PRO Investment Tracker | ✅ | ✅ | ✅ | ✅ | ✅ |
| Weekly Market Analysis | ❌ | ✅ | ✅ | ✅ | ✅ |
| WhatsApp – Direct Service Channel with Account Managers | ❌ | ❌ | ✅ | ✅ | ✅ |
| No Withdrawal Fees | ❌ | ❌ | ✅ | ✅ | ✅ |
| Trading Central Research & Analysis platform | ❌ | ❌ | ✅ | ✅ | ✅ |
| Discount or exemption on Exchange Fees | ❌ | ❌ | 50% | 50% | 50% |
| The Wall Street Journal Subscription | ❌ | ❌ | ✅ | ✅ | ✅ |
| Interest on Balance | ❌ | ❌ | 2.2% | 2.7% | 3.2% |
| Free Insurance up to 1 million EURO or AUD | ❌ | ❌ | ❌ | ✅ | ✅ |
| Invitations to Top Tier Industry Events | ❌ | ❌ | ❌ | ✅ | ✅ |
| Tickets to Handpicked Sporting Events | ❌ | ❌ | ❌ | ✅ | ✅ |
| Access to leading digital financial publications | ❌ | ❌ | ❌ | ✅ | ✅ |
| eToro Club Trading Academy | ❌ | ❌ | ❌ | ✅ | ✅ |
| Premium access to leading digital financial publications. | ❌ | ❌ | ❌ | ❌ | ✅ |
| Invitation to a Diamond Member Event | ❌ | ❌ | ❌ | ❌ | ✅ |
| Crypto Cashback Program | ❌ | ❌ | ❌ | ❌ | ✅ |
The overall commission at eToro is relatively low, but may be higher than at some other brokers. Nevertheless, eToro provides a number of additional features for traders, such as the ability to copy successful traders or use automated trading robots, which can justify high commissions.
Risk Warning
Final review
Detailed review of eToro
eToro is a popular social trading platform that allows traders to invest in a wide range of financial assets, including stocks, currencies, commodities, and cryptocurrencies. The platform was founded in 2007 and is headquartered in Tel Aviv, Israel, with offices in the UK, Cyprus, and Australia.
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eToro offers a range of account types, including a free demo account for users to practice trading before committing real money. The platform also has a range of deposit and withdrawal options, including credit/debit cards, bank transfers, and popular e-wallets like PayPal and Skrill.
eToro operates as a market maker and charges spreads on all trades, with no commissions. The spreads vary depending on the asset being traded and the account type, with higher spreads for lower-tier accounts. However, the platform also offers a range of promotions and bonuses, including a referral program, to help traders offset these costs.
Overall, eToro is a user-friendly platform that offers a unique social trading experience, making it an excellent choice for novice traders and those looking to diversify their investment portfolios. While the spreads may be slightly higher than some other brokers, the platform's features and overall ease of use make it a popular choice for traders around the world.
Advantages:
eToro Regulator
Financial Conduct Authority (FCA)
Financial Conduct Authority (FCA): The FCA is one of the most respected financial regulatory bodies in the world, with a reputation for strict enforcement of rules and regulations. As an FCA-regulated broker, eToro must adhere to a range of stringent requirements designed to protect consumers and ensure fair trading practices. This includes maintaining strict capital requirements, segregating client funds, and ensuring that all financial transactions are conducted in a transparent and ethical manner.
Regulator website: Financial Conduct Authority (FCA)
Cyprus Securities and Exchange Commission (CySEC)
Cyprus Securities and Exchange Commission (CySEC): CySEC is a popular regulatory body for many European-based brokers, and eToro is no exception. CySEC is responsible for overseeing financial markets in Cyprus, which is where eToro's headquarters are located. As a CySEC-regulated broker, eToro must follow strict rules related to client protection, fair trading practices, and financial transparency.
Australian Securities and Investments Commission (ASIC)
Australian Securities and Investments Commission (ASIC): ASIC is one of the most respected regulatory bodies in the Asia-Pacific region, and its oversight extends to financial markets in Australia. As an ASIC-regulated broker, eToro must comply with a range of requirements related to financial transparency, client fund segregation, and fair trading practices. This includes regular reporting and auditing of financial transactions, as well as maintaining appropriate risk management controls to protect clients from potential losses.
Risk Warning
Promotions
Bonuses Paid by the eToro
eToro offers several bonuses and promotions for its clients. Here are some of the bonuses and promotions that eToro offers:
Welcome Bonus
eToro offers a welcome bonus of up to $2,000 for new clients who make a deposit of $5,000 or more. The bonus amount depends on the amount of the first deposit.
Refer-a-Friend Bonus
eToro offers a refer-a-friend bonus of up to $100 for each friend referred who signs up and makes a deposit.
Seasonal Promotions
eToro also offers various seasonal promotions throughout the year, such as cashback bonuses and trading challenges.
Education
Review of the eToro Education Program
The eToro education program offers a range of resources to help traders improve their skills and knowledge.
Tools for dividing learning into multiple categories:
Overall, the eToro education program offers a comprehensive suite of resources to help traders improve their trading skills and knowledge. The social trading platform is a unique feature that allows traders to learn from and copy successful traders, while the customer service is top-notch.
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Rating and Comments
eToro Users Reviews 2024
Authors:
Roman Mukhin
Financial expert, analyst and author
Jane Emberg
Financial analyst and editor
While I appreciate the wide range of assets available for trading and the social trading features, I’ve found the platform to be somewhat confusing and difficult to navigate. The fees are also on the high side, although they are comparable to other brokers. Overall, I think eToro has its pros and cons, and it’s worth considering if you’re looking for a broker with a social trading focus.
I want to write a little bit about security, eToro takes security very seriously. They have taken a number of measures to ensure the security of their users’ funds and personal information, including two-factor authentication and SSL encryption. They are also regulated by high-profile bodies such as the FCA and CySEC. Overall, I would say that eToro is a reliable and secure platform for trading and investing.
eToro has been a great platform for me to learn about trading and investing. The interface is user-friendly and the social trading features are a great way to learn from other traders. I also appreciate the low fees and the ability to invest in a variety of assets, including cryptocurrencies. Overall, I’m very satisfied with my experience on eToro and would recommend it to anyone who is new to trading.
I’ve been using eToro for a few months now, and my experience has been mixed. While I appreciate the wide range of assets available for trading and the social trading features, I’ve found the platform to be somewhat confusing and difficult to navigate. The fees are also on the high side, although they are comparable to other brokers. Overall, I think eToro has its pros and cons, and it’s worth considering if you’re looking for a broker with a social trading focus.