eToro was founded in 2007 and quickly moved to the cutting edge of the financial sector by pioneering the art of social investing. Not only can members of eToro open and close their own positions for assets like stocks, cryptocurrencies, and ETFs, but they can also see what other members are investing in. Aside from its user-friendly interface, eToro is valuable because it allows users to socialize with other investors, delve into their profiles and strategies, discuss the markets, and replicate their tactics.
eToro Review
eToro Pros & Cons
Pros
- Intuitive Social Investing Platform
- Low Fees
- Commission-Free Stocks
- Invest in A Large Variety of Cryptocurrencies
- Licensed Broker
- Wide Range of Assets
- US incentivized “Deposit $100, Get $10” (Stocks) , “Trade $100, Get $10”(Crypto)
Cons
- Not operating in all states
- Limited Leverage for Retail Investors
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 investors to copy a basket of thematic crypto portfolios surrounding a topic 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.
- 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.
- eToro Academy. Besides the market analysis and updates provided by other investors 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, investing strategies, various assets, and much more.
- Fees: When buying crypto assets on eToro, you gain ownership of those assets. eToro charges a single, simple, and transparent fee of 1% for buying or selling crypto. For stocks & Options, eToro charges 0% commission. For full details on fees, explore eToro's fees page.
eToro Overview
- Clients Accepted from 45+ States
- Assets Offered Cryptocurrencies, Options, ETFs, Stocks
- Platforms Available Web, Mobile
- Mobile Compatibility iOS, Android
- Payment Types Accepted Debit card, Wire transfer, PayPal, Bank Transfer
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
- One Click Trading Yes
- Trade off Charts Yes
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Trailing Stop Order No
- OCO Orders No
- Limit Order Yes, not for Stocks
- 24hr Trading Limited
- Charting Package Yes
- Streaming News Feed Yes
eToro Compliance & Regulation
eToro is licensed to operate in the US by FINRA and the SEC.
Fees & Commissions
- Rollover Fee No
- Margin Interest No
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 is $10. Information on minimum deposits can be found here. Fees -1% on Crypto and 0% on Stocks/ETFs.
Service Details
- 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, What’sApp, phone support for club members
- Customer Service Hours 24 hours, 5 days a week. Monday-Friday
- Email Response Time Up to 48 business hours
- Telephone Orders No
- 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 investors are aware of the risks of cryptocurrency investing. 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 investing terminal. This works in eToro’s favor when you consider that many investing 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.
Investors have a permanent sidebar on the left which lets them navigate between their portfolio, asset, and investor 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 investors, users can see the investors’ 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. 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 investors worldwide. The Social Investing 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.
Trading Platform Screenshots
Contact Info
location_on
Company Address:
221 River St 9th floor, Hoboken, NJ 07030, United States
221 River St 9th floor, Hoboken, NJ 07030, United States
eToro FAQs
Q: How can I contact customer support?
A: If you need customer support with eToro, click https://www.etoro.com/en-us/customer-service/.
Q: How does eToro calculate stats?
A: This page: https://www.etoro.com/en-us/news-and-analysis/etoro-updates/new-user-stats-page/ explains how this broker calculates its statistics.
Disclaimer: Securities trading is offered by eToro USA Securities Inc., member of FINRA and SIPC, a self-directed broker-dealer that does not provide recommendations or investment advice. Options involve risk and are not suitable for all investors. Please review Characteristics and Risks of Standardized Options prior to engaging in options trading. Content, research, tools, and stock symbols on eToro’s website are for educational purposes only and do not imply a recommendation or solicitation to engage in any specific investment strategy. All investments involve risk, losses may exceed the amount of principal invested, and past performance does not guarantee future results. Cryptotrading is offered by eToro USA LLC. This entity is not a registered broker-dealer or FINRA member and your cryptocurrency holdings are not FDIC or SIPC insured. Visit our Disclosure Library for additional important disclosures. FINRA Brokercheck © 2022