eToro Review

In the era of technology and digitalization, everything related to investments, sending or receiving money, financial services, and even trading has adapted social and app-based appearances. However, some pioneers established this trend from the very beginning. eToro is a path-breaker in the trading industry, an innovator, and an initiator of diligence in the industry. eToro inspires more than 19 million users across the world with its ingenious platforms, revolved around copy trading services, various Assets trading including, stocks, CFDs (contract for differences), and cryptocurrency.

Founded in Israel, 2007 and having registered offices in UK, Australia, Cyprus, and recently in the US, eToro has become a paramount social trading platform of its own kind. In 2018 eToro emerged as a leading total asset value company by raising a $100 million round of private equity financing. This financing was led by some prominent financial investors and groups like Korea Investment Partner, China Minsheng Financing, SBI Group, and others, increasing eToro’s total assets value up to $800 million.

What is eToro

Starting from a general trading platform to becoming a multi-dimensional social trading platform eToro has unfolded many milestones. eToro’s social platform with eToro copy trading feature was launched in 2010. It has a legit presence in the modern trading industry, serving its clients under various regulated authorities including Financial Conduct Authority (FCA) (UK), Australian Securities and Investment Commission (ASIC), and Cyprus Securities and Exchange Commission (CySEC), Gibraltar Financial Services Commission (GFSC), Financial Crimes Enforcement Network (FinCen) (US) and Financial Industry Regulatory Authority (FINRA) (US). eToro is recently registered in the US and began its services in July 2018. You can anticipate its more offers and functionalities within the US shortly.

eToro simply operates on a no-dealing desk model, which means eToro can’t change the price between the investor and the market. eToro automatically processes the trade and transfer money without changing the price on their own end. Although, prices can vary on market trends. eToro is not having any kind of presence on any stock exchange but is considered safe because it is regulated by top-tier financial authorities. eToro is an illustrious fintech company expanded across 140 countries around the globe.

The company’s vision is to furnish the global markets for everyone to trade, invest and save following the principles of simplicity and transparency. eToro is busy with facilitating the evolution of tokenized assets while removing barriers and making online trading accessible to everyone through innovation, openness, and quality. The key feature of eToro is the ease of use in copy trading and the notable point is that copy trading itself does not guarantee either gains or losses.

eToro trade
eToro trade

Who is eToto Best for?

  • Cryptocurrency traders from the U.S.
  • Stock and CFD customers outside the U.S.

Whether you are looking to invest in individual currencies or finding new ways to extract financial benefits, eToro is an interesting way to invest and earn a profit on a short-term, mid, and long-term investment.

eToro’s graphics-intensive platform serving more than 2,000 different financial assets such as stocks, cryptocurrencies, ETFs, indices, currencies, and commodities to trade and invest, is an attractive social trading platform for cryptocurrency investors and social or copy traders.

How Does eToro work?

Account opening on eToro is free, simple, and fully digital. To open a new account on eToro go to www.eToro.com. Find and press the button “Join Now” or “Trade Now”. Then you will be taken to an electronic form where you are to enter personal data as required. Using Facebook or Gmail to log in are additional options for you. Before submitting review eToro’s privacy policy and Terms & Conditions. Then press the sign-up button to finalize the process. eToro offers two types of accounts for its users:

As a new investor, you are required to provide proof of identity i.e. valid passport, etc., and Confirmation of Residence e.g. a valid utility bill, etc. as per KYC policy.

Furthermore, you will be requested to fill out a questionnaire so that eToro may customize a service package for your investor’s profile.

Account Types

eToro allows you to choose your account type from:

  • Retail clients: As a retail client you have access to all trading assets but your leverage is restricted. With Retail Clients account you are eligible for certain protections like negative balance protection, Investor Compensation Fund, and Financial Ombudsman Service
  • Professional clients: If you qualify for a test to prove your suitability you will fall in the category of Professional Clients. As a Professional Client, you will give up the above-mentioned protections. As a Retail Client, you will also receive negative balance protection. Your leverage is not restricted, but do remember that higher leverage leads to higher risks.

Deposits

Deposits on eToro are free, and you can use Direct Bank Transfer, Credit Card, Debit Card, PayPal Wallet, Skrill Wallet, Neteller Wallet, etc. for making a transfer.

After verification, deposit your initial funding and you are all set to start trading.

Deposit Limits and Time Span

  • Bank transfer (USD, GBP, EUR) – 4 – 7 days – no maximum limit
  • Credit/Debit card – immediate – $40,000
  • Electronic wallets – immediate – $10,000

*Sources having the customer’s name are authorized to make deposits

Withdrawals on the Customer’s eToro Account

eToro charges fees when you make a withdrawal from your eToro account. The minimal amount of withdrawal is $30+ while the withdrawal fee is $5.

  • Credit/Debit card and wire transfer withdrawal process takes up to 8 business days
  • Electronic wallets take 1–2 working days
  • The accounts under the client’s name are authorized to receive the withdrawal amount

eToro Features

eToro Copy Trading

eToro’s most popular and award-winning technology allows you to follow the activities of real traders and copy their trading in a reflex manner. This unique feature is designed to help beginners to learn the online trading basics. You can now easily save your time by avoiding market research and just following top-performing traders.

eToro copy trading
eToro copy trading

Multi-Asset Platform

More than 2,000 assets e.g. stocks, cryptocurrencies, ETFs, indices, currencies, and commodities should sound fascinating as eToro fetches its customers to this boon platform where they can invest with or without leverage.

Low Fees and Commission

eToro declares 0% commission, no spreads, and no hidden charges on a non-leveraged stock or ETF. But there are some low competitive spreads on other assets.

Free Insurance

eToro goes one step ahead to benefit its clients and purchased an insurance policy of up to 1M Euro, GBP, or AUD from Lloyd’s of London. There are certain conditions for insurance coverage besides the fact that eToro offers insurance for cash, CFD, and securities and not for crypto assets.

Social Networking

eToro News Feed resembles any social network where investors and traders can interact with new people and share ideas, strategies, and business insights.

Ultimate Fund Safety

let any unlikely notions of eToro’s bankruptcy go without fail as your funds are secured in a separate account. So, rest assured that there is no chance of losing them.

Cyber Security

Not only your funds are safe but the same is the case with your personal and sensitive information as your information will never be shared except it is necessary by law.

Education

eToro’s education section includes:

  • News and Analysis
  • Financial markets guides
  • Video tutorials
  • Podcast
  • What is Social Trading?
  • Daily Market Review
  • Trading School

Free Demo Account ($100K)

eToro arrives with a unique feature of a free demo account. Now, sharpen your trading and investment skills with a free $100,000 demo account provided by eToro.

Trade with One Click

eToro’s one-click feature helps you avoid repeating trading habits at different times. Now, use ready-made parameters, click only once, and open a new position just like that.

Advanced Charts

Use eToro’s Procharts tool to compare charts from various financial instruments and add a technical analysis strategy to your work.

Trading 24/7

No matter if the eToro platform is going down for maintenance, its offline trading feature enables you to place specific trading and investing orders.

eToro watchlist
eToro watchlist

Web Trading

eToro web platform is considered one of the best in the business because of its up-to-date latest version. It is designed specifically with a user-friendly interface for your ease as you can find out their desired results with the help of the built-in search function. The alerts and notifications are of their kind, but customization is a bit hard here. Available languages are:

  • English
  • German
  • Spanish
  • Arabic
  • Polish
  • Greek
  • French
  • Italian
  • Russian
  • Chinese and more

eToro Mobile App

eToro’s innovative mobile application is available on APP store and Google Play Store. Now, you can enter trade 24/7 from anywhere you want. As compared to other brokerages, this app is taken as the best choice. It has the same language options as are available on the web platform.

16 Cryptocurrencies

You have 15 cryptocurrencies to buy, sell and hold. It means you can turn your USD into Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Dash, Litecoin (LTC), Stellar Lumens (XLM), NEO (NEO), EOS (EOS), Cardano (ADA), IOTA, TRON, ZCash, Binance Coin (BNB), Ripple (XRP) and Tezos.

Customer Service

eToro customer service is in your service where you can monitor the development of your open tickets, hold the record of your closed issues, search for answers to certain questions, submit questions and feedback. But getting answers to your inquiries may take as many as 14 days. So be patient or try live chat.

eToro Products

As the world’s leading social trading platform, and a one-stop-shop for stock trading, online investing, crypto trading, and more, eToro arrives reliable to the refinement of knowledge and rendering of practical experience into its trading tools.

With the mission of taking the lead in social trading features and the financial market, eToro is successfully managing its active social paths while creating a community of traders and investors rather than letting them trade in isolation.

The Popular Investor Program

eToro is taking the concept of social trading one step ahead with its Popular Investor Program. This program enables you to showcase your ability to the global network if you have developed a booming investing strategy. So, with experience in financial markets, here is a wonderful opportunity for you to establish your reputation as a successful investor.

This program offers benefits for both the investors and the copiers. The investors have the chance to set up and run an online investment business and earn a substantial income. The copiers get a prospect to copy the schemes of the advanced investors for their financial benefits.

How Does the Program Work?

eToro’s the Popular Program is a paid program that allows the development of an online investment business if you are a skilled investor. The more AUM (total copy assets) you have, the more income you will get. Popular investors can be paid highly as up to 2.5% of the total AUM.

Payment Table

Popular Investor LevelCADETCHAMPIONELITEELITE+
Monthly Payment$400 or *$8001.5% or *2.0% (annual)2.0% or *2.5% (annual)
Minimum AUM$500$50K$500K$10M

An investor having 1,000 copiers with a total AUM of $10M can make up to $250,000 in payments per year.

Additional Perks

  • Online investment services subscriptions
  • Bespoke personalized customer service
  • VIP tickets to sporting events

Steps to Become a Popular Investor

  • Create eToro account
  • Deposit equity (more than $1,000)
  • Trade for two months
  • Maintain maximum risk score below 7
  • Maintain average risk score below 7
  • Follow leverage restrictions
  • Achieve above $500 AUM
  • Go to privacy settings and add your full name and biography of minimal 150 characters
  • Keep your feed active

CopyPortfolios

eToro’s CopyPortfolios function like investment vehicles that make a collection of financial assets. CopyPortfolios reduce long-term risk, encourage growth opportunities by creating diversified investments.

There are two types of CopyPortfolios

  • Top Trader Portfolios
  • Market Portfolios

Top Trader CopyPortfolios are trader-only portfolios. Traders are selected on the basis of their CopyPortfolio’s strategy. Market Portfolios consist of no traders but financial assets only. So, Market Portfolios contain stocks, ETFs, indices, commodities, or currencies.

Minimum Investment Amount

  • $5,000

How to Start

  • Select the CopyPortfolio that suits you
  • Enter your amount for investment
  • Click the “Invest” button and it’s done

Your CopyPortfolio is managed, analyzed, and rebalanced automatically once you invest in a CopyPortfolio.

eToro Fees

Stocks & ETFs

There is no commission to invest in stocks and ETFs.

  • Management fees – No
  • Rollover fees – No
  • Ticket fees – No
  • Any additional broker fee – No

Cryptocurrencies

eToro charges only ‘spreads’ for cryptocurrencies. You become the owner of the crypto assets when you buy them.

CryptocurrenciesSpreads
BTC0.75%
ETH1.90%
BCH1.90%
DASH2.90%
LTC1.90%
ETC1.90%
ADA2.90%
MIOTA (IOTA)4.5%
XLM2.45%
EOS2.90%
NEO1.90%
TRX3.5%
ZEC3.5%
BNB2.45%
XTZ5%
XRP2.45%

Other Fees

CopyTrader

  • Spreads
  • Overnight fee
  • No extra fees
  • No hidden charges

CopyPortfolios

  • No commission on stock portfolios
  • No management fee

General Fees

  • No deposit fee
  • $5 withdrawal fee ($30 – minimum withdrawal amount)
  • Conversion fees – from 50 Pips (percentage in point or price interest point)
  • $10/Month – Inactivity fee

eToro Competitors

There are some lower-fees options for you in the industry. Have a look at them.

Other alternatives to eToro include:

  1. IG
  2. XTB
  3. Plus500
  4. Markets.com
  5. Saxo Bank
  6. City Index
  7. Forex.com
  8. Pepperstone
  9. Swissquote
  10. Zulu Trade
  11. Tradeo
  12. Ayondo
8.7 Total Score
eToro Review

eToro is a social brokerage with good opportunities for the growth of new investors and traders. Though the availability of only16 cryptocurrencies is not enough for serious traders and non-trading fees are high, yet your investment is safe as eToro keeps them in a separate account, so there is no risk for clients to go bankrupt. The Popular Investor Program is a unique service where even novice can benefit from senior traders and their trading and learning go side by side.

Trust
10
Fees
7
Ease of use
9
PROS
  • No per Trade Fees or Commission - With eToro you can trade 16 cryptocurrencies and there is no per-trade fee or commission
  • Social Persona - eToro is a leading social trading platform, so you can learn from others. in this way, eToro helps you create social ties while earning income.
  • eToro Copy Trading - As a copier or the being copied, you have chances to grow and glow.
  • Ease of Use - eToro’s web and mobile platforms are built user-friendly and simple.
CONS
  • Non-trading fees - Non-trading fees are high on eToro
  • Amateur traders - Amateur traders can be problematic by influencing your decisions
  • High spreads - You can face the problem of high spreads while trading some assets/cryptocurrencies
  • Crypto commission - Commissions are high on crypto transfers
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