eToro was founded in 2007 and quickly moved to the cutting edge of the financial sector by pioneering the art of social trading, also known as copy trading. Not only can members of eToro open and close their own positions for assets like currencies, stocks, cryptocurrencies, and ETFs, but they can also mirror other members by automatically copying their trades. Aside from its user-friendly interface, eToro is valuable because it allows users to socialize with other traders, delve into their profiles and strategies, discuss the markets, and replicate their tactics.
You can also become a leader by attracting general followers or people who replicate your trades. If you become a leader with people replicating (or copying) your trades, you are entitled to compensation. eToro offers copy and self-trading for both CFD and non-CFD assets from its user-friendly interface, and authorities like the FCA, ASIC, and CySec have granted it a license to operate.
eToro Pros & Cons
Pros
- Intuitive social trading platform
- Demo account
- Low fees
- Trade a large variety of cryptocurrencies
- CFD and Non-CFD trading
- Investors earn fees from followers
- Licensed broker
- Wide range of assets
Cons
- Higher spreads than the average
- Limited leverage for retail traders
Who Is eToro Recommended For?
eToro offers competitive pricing and user-friendly features. Because it has such a wide range of tools, it is suitable for both new and experienced investors. Investors of all levels will find something to love with this broker.
Regulated By
- FCA
- ASIC
- CySec
- FINRA
- FinCEN
- Seychelles
Top eToro Features
- Smart Portfolios. eToro offers unique Smart Portfolios, which allow traders to copy a basket of thematic assets surrounding a topic, a geographical area, or a specific economic sector. When you sign up for eToro, you’ll be able to copy these Smart Portfolios at no cost. This feature is great for beginners who are learning the basics. It is also great for people who don’t have time to research in-depth strategies, yet still want to maximize their portfolio.
- Popular Investor. This is the official title for an expert investor or leader who trades on the eToro platform and is paid by eToro to share their knowledge and skills. Popular Investors earn a two-percent management fee from those who follow their trades. The program has four tiers: Cadet, Rising Star, Champion, and Elite. Major differences between these tiers include a minimum number of followers, minimum average equity, minimum assets under management, and time as a member.
- ProCharts. ProCharts provides eToro users with advanced charting and analysis capabilities. ProCharts users can view multiple instruments simultaneously with different parameters, customize the arrangement of charts, and adjust other settings to perfectly align with more complex strategies.
- Trading Academy. Besides the market analysis and updates provided by other traders on the platform, eToro offers a wide range of educational media tools like video courses, webinars, articles, eBooks, and more. This material is available for free from the moment a user joins the platform and provides the knowledge base for users to understand the different markets, trading strategies, various assets, and much more.
There are no management fees, rollover fees, or costs for opening trades as there would be elsewhere. eToro simply adds a markup on the spread of its assets, which differs depending on the asset being traded. There are too many to list, the full detailed explanation is located on eToro’s fees page.
eToro Overview
-
Registered Address
1 Canada Square 24th Floor Canary Wharf London UK, E14 5AB -
Type of Broker
Market Maker -
Regulation/Licensing
Financial Conduct Authority (FCA) in the UK Australian Securities and Investments Commission (ASIC) Cyprus Securities and Exchange Commission (CySEC) -
Accepted Jurisdictions
Over 60 countries in Europe and beyond -
Assets Offered
Cryptocurrencies, ETFs, Stocks, Indices, Commodities, Currencies -
Platforms Available
Web, Mobile -
Mobile Compatibility
iOS, Android -
Payment Types Accepted
Wire transfer, major credit cards, PayPal, Skrill, WebMoney, GiroPay, Yandex Money
eToro Account Types
|
Retail |
Professional |
|
|
Features |
Basic Account for Non-Professional eToro Investors |
Must Meet Certain Criteria, Access to More Features |
|
Account Currencies |
USD |
|
|
Available Leverage |
N/A |
N/A |
|
Minimum Deposit |
You can start investing with a minimum deposit of $10 |
You can start investing with a minimum deposit of $10 |
|
Commission Per Trade |
1% (Crypto) |
Depends on user type |
|
Decimal Pricing |
Up to 5 |
Up to 5 |
|
Trading Instruments |
Cryptocurrencies, ETFs, Stocks, Indices, Commodities, Currencies, Options |
Cryptocurrencies, ETFs, Stocks, Indices, Commodities, Currencies, Options |
|
Min. Lot Size Per Trade |
0.01 |
0.01 |
|
Spreads |
EUR/USD: 3, GBP/USD: 4, USD/JPY: 2 |
Varies |
|
Demo Account |
Yes |
Yes |
|
Swap/Rollover Free |
Yes |
Yes |
|
Copy Trading Support |
Yes |
Yes |
Trading Platforms
- eToro Investing Software By eToro
- eToro Money Wallet for Crypto
- eToro Options App
Trading and Investment Tools
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eToro Trading Software
eToro -
eToro WedTrader
eToro -
One-Click Trading
Yes -
Email Alerts
Yes -
Stop Order
Yes -
Trailing Stop Order
Yes -
Limit Order
Yes -
Charting Package
Yes -
Trade-off Charts
Yes -
Mobile Alerts
Yes -
Market Order
Yes -
OCO Orders
Yes -
24hr Trading
Yes -
Streaming News Feed
Yes
eToro Compliance & Regulation
eToro is licensed to operate in the EU by CySEC, the Cyprus Securities and Exchange Commission, in the UK by the Financial Conduct Authority, and in Australia by the Australian Securities and Investments Commission. UK investors are also covered by the FCA’s Financial Services Compensation Scheme (FSCS) which covers each trader to a maximum of £50,000 if eToro becomes insolvent. To keep customers safe, eToro carefully abides by the rules set by these oversight authorities. Traders are warned several times about the risks of trading and are asked for a thorough amount of personal information before getting started.
Fees & Commissions
-
Rollover Fee
No -
Margin Interest
No -
Withdrawal Fees
5 -
Depositing Fees
Vary
eToro Pricing
It’s free to open an eToro account. However, to begin investing as a retail trader, there is a minimum deposit required which varies according to region. In some regions, it is as low as $10. Information on minimum deposits can be found here. Most fees are added as markup to bid/ask spreads. Fees are also added when a trader holds a position overnight. This fee varies based on the asset class. The flat-rate withdrawal cost is $5.
Fees are added as pips (2 pips) to currency pair spreads and as percentages to cryptocurrencies, stocks, and ETFs. Overall, these fees are competitive in the industry. There are no fees when buying individual cryptocurrencies without leverage, but they do apply to leveraged buy and sell positions in cryptocurrency pairs. ETFs and stocks have overnight “holding fees”. However, these apply only to leveraged trades and short positions.
Service Details
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Supported Languages
Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Indonesian, Italian, Malay, Polish, Portuguese, Romanian, Russian, Spanish, Swedish, Thai, Vietnamese -
Customer Service By
Chat, Email -
Customer Service Hours
24 hours 5 days a week. Monday-Friday -
Personal Account Manager
Yes
eToro Reliability & Security
In addition to its adherence to regulatory requirements, eToro has proven to be a reliable investment platform.. With regards to the security of funds and data, eToro states that it uses the highest-grade encryption standards for both, as well as a security system for its servers to protect against DDoS and other cyberattacks.
eToro ensures traders are aware of the risks of CFD trading and cryptocurrency trading. They offer educational material on risk management to drive the point home, a feature not commonly found elsewhere. Finally, client funds are stored in Tier 1 banks for safety to segregate them from the company’s operating capital.
eToro User Experience
Users will encounter colorful panels and symbols when they first log in, which is more reminiscent of an online magazine than a traditional, sterile trading terminal. This works in eToro’s favor when you consider that many trading platforms look the same and don’t deliver social functions. With just a brief look, users will appreciate an interface that is friendly and social.
Traders have a permanent sidebar on the left which lets them navigate between their portfolio, asset and trader watchlist, news and education, deposits and withdrawals, and more. Each page can be narrowly filtered to produce detailed, relevant information. The amount of information that fits into just the main panel is immense. For example, when viewing a list of top traders, traders can see the traders’ percentage return over the last 12 months, risk levels, number of copiers, and profile picture.
Clicking on the picture presents a very extensive look at investor performance, incorporating graphs, charts, tables, and more. Copying another trader is as simple as a single click, but one can just as easily go to the “Markets” section and trade on their own. One area in which eToro can improve is customer support. Long wait times are commonly reported when attempting to reach a representative via live chat or phone. A web ticketing system is available, however, this has not improved response times.
Final Thoughts on eToro
The unique features and benefits offered to eToro members justify the platform’s immense popularity among traders worldwide. The Social Trading Service pioneered by eToro, along with its deep community of Investors, Followers, and Portfolios, are all very impressive. What’s more, eToro continues to expand its geographical offerings, as well as its asset range. For new traders, eToro is an excellent alternative to the potentially-intimidating MetaTrader 4 interface. Experienced traders will also find greater leverage and fewer limitations from eToro, though they’ll have to meet strict qualifications to reach this level.
Trading Platform Screenshots
Contact Info
Company Address:
221 River St 9th floor, Hoboken, NJ 07030, United States