eToro
- Written By Forex
- Updated:
eToro is a well-known broker that lets you trade different things like Forex, stocks, and crypto. They also have a cool feature where you can copy the trades of other people. It works for beginners or experts.
This review will tell you what you need to know before you decide if eToro is for you. On Trustpilot, eToro has a score of 4.2/5, which is great. They have about 27,550 reviews, and 65% of people gave them 5 stars, but 21% only gave 1 star.
eToro Overall Summary Table | |
Year Founded | 2007 |
Minimum Deposit | $50 – $10,000 (varies in different jurisdictions) |
Tradable Instruments | Forex, Crypto, Stocks, Indices, Commodities, ETFs, NFTs |
Open an Account | How to Open an Account at eToro |
Trading Costs | Spreads, Fees, and Commissions at eToro |
Key Pros and Cons
First, let us take a quick look at some of the merits and demerits that come with trading with eToro:
- Key Pros
- Top Copy Trading Platform
- Social trading tools
- Zero commissions on FX trades
- Leverage of up to 1:400
- Proprietary web, mobile, and desktop trading platforms
- Regulated in various jurisdictions
- Multiple financial assets (7,000+ instruments)
- A good selection of educational resources
- Segregated client funds
- Staking Crypto
- eToro club
- Multilingual client support team
- eToro Portfolios (Smart Portfolios)
- Free $100,000 demo account
- Key Cons
- No MetaTrader trading platforms
- Does not support scalping
- $10 inactivity fee after 12 months
- Exorbitant non-trading fees
- No third-party technical analysis tools, such as Trading Central
- No Economic Calendar
- Poor customer support
- $5 withdrawal fee
Company Information
eToro, started in 2007, is like a web-based trading place that wants to make trading easy for everyone, no matter where they are. Yoni Assia, Ronen Assia, and David Ring got it going, and since then, it’s gotten way bigger, with a bunch of talented people joining up.
At eToro, you can trade and put money into all sorts of things – like foreign money, stocks, stuff like oil, and even those digital coins. Plus, you can even copy what other investors are doing if you want.
The eToro name is used by a few different groups that have offices in places like London, Cyprus, Seychelles, New Jersey, and Sydney. These groups are:
eToro (Europe) Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC): office address: 4 Profiti Ilia Street, Kanika Business Centre, 7th floor, Germasogeia, 4046, Limassol, Cyprus.
eToro Money Malta Ltd, regulated by the Malta Financial Services Authority (MFSA): office address: 68, Northfields, Penthouse 10 63, Independence Avenue MST 9024 Mosta, Malta.
eToro (UK) Ltd, regulated by the Financial Conduct Authority (FCA); office address: 24th floor, One Canada Square, Canary Wharf, London E14 5AB, United Kingdom. eToro Money UK Ltd holds a license from the FCA allowing for the provision of electronic money and payment services; office address: Maclaren 3b – Lancastrian Office Centre Talbot Road, Stretford, Manchester, M32 0FP, England.
eToro Australia, regulated by the Australian Securities & Investments Commission (ASIC), office address: Level 3, 60 Castlereagh Street, Sydney NSW 2000, Australia.
eToro USA LLC, regulated by Financial Crimes Enforcement Network (FinCEN) and Financial Industry Regulatory Authority (FINRA), office address: 221 River St., 9th Floor, Hoboken NJ 07030 USA.
eToro Seychelles, regulated by the Financial Services Authority of Seychelles (FSAS); office address: Suite18, 3rd Floor, Vairam Building, Providence, Mahe, Seychelles.
eToro (ME) Limited, regulated by the Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA“); office address: Office 207 and 208, 15th Floor Floor, Al Sarab Tower, ADGM Square, Al Maryah Island, Abu Dhabi, United Arab Emirates (“UAE”).
eToro’s a big deal – it’s a social trading platform with over 35 million users in 140 countries. They’re all about keeping things simple, fresh, open, and good quality. What makes eToro different? It feels like you’re part of a community, not just trading alone online. Plus, their CopyTrader lets you copy what successful investors do!
Catering to Traders Worldwide
One of the impressive features of AvaTrade is its truly global reach, which is something that will appeal to traders all around the world. Their website is configured for over 25 separate countries and regions and supports at least 20 different languages.
Multiple Industry Awards
AvaTrade has won multiple industry accolades from reputable outlets, such as The European, International Business Magazine, FXEmpire, and Daytrading.com.
Why Trade with eToro?
Here are some of the key features we like about trading with eToro:
Aspect | What we like |
Regulation | The broker is regulated in multiple jurisdictions: FCA, CySEC, ASIC, the FSA of Seychelles, and more |
Pricing | Transparent pricing with no hidden charges on trades |
Trading | Multiple financial instruments across different asset classes, such as stocks, ETFs, cryptocurrencies, and CFDs on forex, indices, commodities, and more. |
Platforms | A proprietary trading platform that is available in web and mobile versions |
Education | A good selection of educational resources, such as trading guides, learning articles, FAQs, news, videos, webinars, and more |
Social Trading | CopyTrader functionality and a wide social trading network that makes use of the wisdom of the crowd sentiment to benefit traders |
Execution | Market Maker |
Customer Support | A multilingual client support team that is available via various contact channels |
Regulation
eToro's a financial service that follows the rules in lots of places. In the UK, the Financial Conduct Authority (FCA) keeps them in line. Across the EU, the Cyprus Securities and Exchange Commission (CySEC) makes sure they play fair. Plus, eToro (Europe) Ltd is on the up-and-up with France's Financial Markets Authority (AMF) as a digital asset service provider, listed with CySEC for crypto services, and checked out by the Bank of Spain. In Malta, eToro Money Malta Ltd has the thumbs-up from the Malta Financial Services Authority (MFSA) for handling electronic money and payments. Over in the Middle East, eToro (ME) Limited is watched by Abu Dhabi Global Market (ADGM)’s Financial Services Regulatory Authority (FSRA). Down Under, the Australian Securities and Investments Commission (ASIC), a top-level regulator, licenses and regulates them. In the US, eToro is registered with the Financial Crimes Enforcement Network (FinCEN) and the US Securities and Exchange Commission (SEC), and they're part of the Financial Industry Regulatory Authority (FINRA). For traders elsewhere, eToro (Seychelles) Ltd takes care of things and is watched over by the Financial Services Authority of Seychelles (FSAS). So, here's how eToro is regulated around the globe:
Flag | Region | Entity | Authority | License |
 | United Kingdom | eToro (UK) Ltd | Financial Conduct Authority (FCA) | License No. 583263 |
| Cyprus | eToro (Europe) Ltd | Cyprus Securities and Exchange Commission (CySEC) | License No. 109/10 |
| Malta | eToro Money Malta Ltd | Malta Financial Services Authority (MFSA) | Company No. C97952 |
| Middle East | eToro (ME) Limited | Abu Dhabi Global Market (ADGM)’s Financial Services Regulatory Authority (FSRA) | Financial Services Permission Number 220073 |
| Australia | eToro AUS Capital Ltd | Australian Securities and Investments Commission (ASIC) | License No. 491139 |
| Seychelles | eToro (Seychelles) Ltd | Seychelles Financial Services Authority (FSAS) | License No: SD076 |
| USA | eToro USA LLC | FinCEN, SEC, FINRA | FinCEN #31000204884179, SEC #8-70212/SEC CIK #0001753042, FINRA/CRD #298361 |
eToro is heavily regulated in many places like Australia, the UK, and Cyprus. This shows they’re seen as trustworthy and can run their business in different countries, even where some other brokers can’t because they don’t have the right licenses.
eToro is careful about keeping your money safe. They use strong security measures, store your funds in separate accounts at big-name European banks, and have top-notch cybersecurity. Plus, they won’t share your personal info without asking you first.
All in all, eToro’s regulation is good and helps build confidence in them.
Regulation
4/5
- Multi-jurisdiction regulation helps to develop trust
- Regulation with FCA and CySEC means that clients who fall under those regions are insured up to a certain amount
- Non-professional clients who trade with eToro Seychelles can use more than the 1:30 restriction valid for eToro Europe
- Clients' funds are held in segregated bank accounts
KYC Procedure for Account Creation and Depositing
Signing up with eToro is simple and filling out your info only takes a few minutes. You’ll need to send some ID to confirm your account, which might take about a day.
Go to the broker’s website and scroll to the top-right corner; click on the “Sign Up” button, and then follow these steps:
Personal contact details: Fill in your name, email address, and telephone number. Alternatively, you can sign up with your Facebook or Google logins.
Additional contact details: Fill in your date of birth and address.
Choose a password: You are required to choose a strong password to ensure the security of your trading account.
Choose your trading platform: eToro offers an in-house-developed trading platform that is available as a WebTrader and a mobile app.
Declare financial status and funding: At this point, you are required to disclose your estimated annual income, the level of your savings, how much you will invest, and the source of your funds. While this might feel pretty uneasy, it is the industry standard.
Check the relevant box: By checking the relevant box, declare that you have read and agree with all the legal documentation of eToro, including Terms and Conditions, Order Execution Policy, Privacy Policy, and Risk Disclosure Notice.
Upload other KYC documents for verification: You are required to upload some ID documents, such as a Passport, National ID card, or Driver’s License, as well as proof of residency (utility bill or bank account statement), to complete your account verification process.
Once you finish your profile and upload your stuff, you’ll wait for the broker to okay your account. This usually takes a business day. After they give you the green light, you can put money in your account using their payment options. Once that’s done, you’re good to go and can start trading right away. The smallest deposit you need to begin at eToro depends on where you live; it could be anywhere from $50 to $10,000.
Account Opening
3/5
- Quick sign up process (less than 10 minutes)
- Sign up includes a financial eligibility test
Account Types
Okay, so eToro has a few account types you can pick from: Retail, Professional, Islamic, and Demo. If you want to trade for keeps, go with Retail or Professional. The Demo account? That’s just for messing around and getting the hang of things.
Retail Account
With a minimum deposit requirement of $200 for most served regions, the Retail account is best suited for retail clients who do not qualify for the Professional account. Holders of this account type are allowed to trade all the available financial assets or use the copy trading functionality to replicate the trades of expert traders.
The Retail account has a limited leverage offer, especially for EU clients (1:30). However, it provides traders with certain protections such as coverage by the Investor Compensation Fund, recourse to the Financial Ombudsman Service, negative balance protection, and margin closeout restrictions.
Professional Account
The Professional account type at eToro is only available to traders who qualify as Professional traders. Eligible customers must meet at least 2 out of 3 conditions, including 10 transactions of significant size per quarter over the previous four quarters, investment portfolio exceeding €500,000, and at least 1 year of professional experience in the financial sector. As expected, the Professional account comes with many perks, including increased leverage of up to 1:400 for certain instruments, as opposed to the limitations imposed by ESMA on retail clients, as well as access to more features.
Note that professional traders must waive certain protections, such as civerage by the Investor Compensation Fund and negative balance protection.
Islamic Account
eToro has swap-free accounts for Muslim clients, so there are no interest charges. After a week, they charge daily admin fees for keeping CFD positions open overnight. These fees change based on the CFD and are charged daily for a standard lot of 100,000 units.
To open an Islamic account, just sign up for a regular account, deposit at least $1,000, and send in your ID to verify your account. With eToro’s swap-free account, you can trade over 5,000 instruments and use cool tools, including CopyTrading.
Demo Account
Besides the live trading account, the broker lets traders sign up for a demo account. It’s like a practice space with $100,000 in fake money. Newbies can mess around with it to get comfy with the broker’s platform before they put real cash on the line.
Experienced traders can also play around with the demo account to see if their trading plans work before they use them with the live trading account. You can use all 7,000+ financial instruments like Stocks, Crypto, Commodities, Currencies, Indices, and ETFs in the demo account.
Account Types
3/5
- Two main live account types: Retail and Professional Accounts
- Islamic Account available
- Demo accounts available
- Transparent trading fees and conditions for all account types
Trading Fees and Other Costs
When you’re trading, fees are super important since they can eat into your profits. That’s why it’s smart to pick a broker such as eToro that doesn’t charge crazy fees. Just like with any broker, eToro’s fees basically fall into two types:
- Trading fees: spreads, commissions, and overnight financing rates;
- Non-trading fees: account management fees, deposit and withdrawal fees, inactivity fees.
Here is a breakdown of those two categories to know whether eToro really charges competitive trading fees.
Costs/fees | What is this? | With CMC Markets |
Spreads | The cost is incorporated into the price of what you trade. A wider bid-ask spread means higher costs. | eToro offers competitive spreads across its available assets, including spreads as low as 1 pip on major Forex pairs. |
Commission | A flat fee paid per position is often used as an alternative to charging via the spread. | As of August 2024, when investing in stocks, a fee of $1 or $2 may apply, based on traders’ country and the stock exchange. |
Financing charges | The cost of holding a position active overnight. | The broker charges for holding a position active overnight. The financing charges are dependent on the financial assets. |
Deposit fees | Fees charged by the broker to fund your account. | None (see more in Deposit Methods below) |
Withdrawal fees | Fees charged by the broker to withdraw money from your account. | Withdrawals incur a low fee of $5, and conversion fees apply to non-USD deposits and withdrawals. (see Withdrawal Methods below) |
Inactivity fees | Fees charged on dormant trading accounts. | After 12 months with no login activity, a $10 monthly inactivity fee will be charged on any remaining available balance. |
Spreads
eToro includes costs in its spread, and charges overnight/weekend fees for CFD positions. So, their spreads might be slightly higher compared to brokers with raw spreads.
At eToro, spreads start at 1.0 pip for currency CFDs. Here are the spreads for various major currency pairs:
Instrument | eToro Account Spreads |
EUR/USD | 1.0 pips |
GBP/USD | 2.0 pips |
USD/JPY | 1.0 pips |
USD/CHF | 1.5 pips |
AUD/USD | 1.0 pips |
USD/CAD | 1.5 pips |
NZD/USD | 2.5 pips |
Here, we compare eToro’s spreads for several major Forex pairs with those of other brokers.
Instrument | eToro | Fusion Markets | AvaTrade | IG Markets |
EUR/USD | 1.0 | 0.93 | 0.9 | 1.40 |
GBP/USD | 2.0 | 1.00 | 1.3 | 1.40 |
USD/JPY | 1.0 | 1.70 | 1.3 | 1.97 |
USD/CHF | 1.5 | 1.70 | 1.3 | 1.99 |
AUD/USD | 1.0 | 0.91 | 1.1 | 0.82 |
USD/CAD | 1.5 | 0.99 | 1.8 | 1.77 |
NZD/USD | 2.5 | 2.80 | 1.4 | 2.05 |
eToro’s spreads for commodity CFDs start from 2 points, which is actually the spread for copper. The spreads for other commodities are as follows:
- Oil: 5 pips
- Gold: 0.025%
- Silver: 5 pips
- Natural Gas: 0.25%
- Platinum: 35 pips
eToro’s spreads for other assets are as follows:
- Stock CFDs: start from 0.15%; US-listed stocks and ETFs priced at $3 or less entail a fee of 2 cents per unit.
- Indices: start from 0.02 points
- Cryptocurrencies: 1%
Commissions
Okay, so in August 2024, if you buy stocks, you might have to pay a commission of $1 or $2. How much it is exactly depends on where you live and which stock exchange you’re using. Just so you know, even if the stock isn’t in USD, the commission is always charged in US dollars.
Overall, regarding eToro’s fees and commissions:
- eToro charges trading fees primarily through spreads, which are variable and reflect current market conditions.
- Forex spreads on eToro are competitive with no additional commissions beyond the spread.
- Stock investments may incur a commission fee of $1 or $2 per trade based on users’ country of residence. Stock CFDs do not incur a commission fee.
- Crypto trades on eToro are subject to a flat 1% fee when buying and selling, or a 2% round-trip cost per trade.
Spreads & Commissions
2/5
- Competitive spreads
- Zero commission for Stock CFD trades
Financing Charges
If you hold CFD positions overnight, you’ll have to pay financing charges. Think of it as interest for the leverage you’re using. Weekend fees are just overnight fees, but for holding a position through the weekend – they’re usually three times the normal overnight fee.
These rollover fees can change depending on what’s happening in the world markets, and those adjustments affect any positions you currently have open. Overnight fees are applied every weekday at 5 PM EST. For most stocks, ETFs, and index CFDs, you’ll be charged the triple weekend fee on Fridays. But for Cryptocurrencies, Commodities, and Currencies, that triple charge hits on Wednesdays.
Deposit fees
Withdrawal fees
eToro charges a flat $5 fee on withdrawals to take care of some international transfer costs. If you’re depositing or withdrawing in a currency other than USD, there will be a conversion fee. Withdrawals are in USD. So, if you’re withdrawing in another currency, it’ll get converted, and you’ll see that conversion fee. Check out Withdrawal Methods for the details.
Administration fees
The broker does not charge any administration fees.
Inactivity fees
If you don’t log in for a year, we’ll start charging a $10 monthly fee on your remaining balance. Don’t worry, we won’t close any open positions to cover it, though.
Inactivity Fees
3/5
- $10 per month after 12 months of inactivity.
Overall on Fees
eToro doesn’t charge commission or admin fees, which is cool. Just keep in mind their spreads, especially on currencies, are a little wider than some other places. They also hit you with fees if your account sits there doing nothing. On the bright side, putting money in is free, and taking it out won’t break the bank.
Costs and Fees
2/5
- Trading costs are low with low spreads and zero commissions
- Zero deposit and low withdrawal fees are also fair
- Inactivity fees on dormant accounts are high
Desktop Trading Platforms
The broker provides traders with a proprietary trading platform that is designed to ensure seamless trading of multiple financial assets.
eToro Trading Platform
We built our multi-asset trading platform ourselves. The interface is simple to use, so both new and experienced traders can easily trade over 7,000 assets. Plus, it has cool copy trading stuff.
Some of the essential features we love about the broker’s trading platform include the following:
7,000+ financial instruments
CopyTrader
One-click trading functionality, which enables clients to open a new position with a single click.
ProCharts, a professional-grade technical analysis tool that allows you to compare charts from different financial instruments and different time frames.
Research Tab
Stop Loss and Take Profit
Trailing Stop Loss
CopyPortfolios, which are ready-made, investment strategies, offering thematic investment, such as medical cannabis, driverless cars, and people-based portfolios.
Virtual Portfolio
WebTrader
The broker’s social trading platform is a WebTrader. You can use the web version on Chrome, Safari, Firefox, and Edge — no downloads or installs needed.
Copy-trading with eToro
So, eToro’s got this popular social trading thing going on with over 35 million traders from around 140 countries. They’ve got this CopyTrader thing, letting you pick experts to copy by hitting the Copy People tab.
In the Copy Trading section, you can check out different stats to see which traders might be good to copy. Just click on the stats tab in their profile, and you’ll see stuff like how their money’s grown, their biggest losses, wins, losses, you know, the usual.
eToro’s social trading thing can be great for newbies and pros. Newbies can learn from experienced folks, while experienced traders can talk shop with each other. Some of the big names on eToro now are Jay Edward Smith, Olivier Danvel, Jeppe Kirk Bonde, and others. Also, eToro has this Popular Investors Program. Only traders who are copied by others can join and it pays well. If you reach to the top Elite Popular investor group you can earn up to 2% of all the money other people invested through you. I mean, if you have $20 million being copied by a thousand people, that’s $400,000 a year!
Desktop Platforms
3/5
- Proprietary social trading platform
- Advanced trading tools and features
- Copy Trading available via CopyTrader
Mobile Trading Platforms
The broker’s social trading platform also has a mobile app version. It’s like a smaller version of the platform for your phone. You can do pretty much everything – handle your investments, keep up with the markets, copy other traders – right from your smartphone.
You can grab the app from the app store—links are on eToro’s site. As long as you’ve got the internet, you can trade and invest whenever, wherever.
eToro Mobile Trading Platform
Android | iOS | |
Minimum System Requirements | Android 6.0 and up | iOS 14.0 and later |
User Rating | 4.2/5 | 4.4/5 |
User Reviews | 2,940+ votes | 222 ratings |
Supported Languages | English, Arabic, Czech, Danish, Dutch, Finnish, French, German, Italian, Norwegian Bokmål, Polish, Portuguese, Romanian, Russian, Simplified Chinese, Spanish, Swedish, Traditional Chinese, Vietnamese | English, Arabic, Czech, Danish, Dutch, Finnish, French, German, Italian, Norwegian Bokmål, Polish, Portuguese, Romanian, Russian, Simplified Chinese, Spanish, Swedish, Traditional Chinese, Vietnamese |
Forex Pairs | 55+ | 55+ |
Other Tradable Assets | Crypto, Stocks, Indices, Commodities, ETFs, NFTs | Crypto, Stocks, Indices, Commodities, ETFs, NFTs |
Features | Demo account with virtual balance of $100,000; zero commissions on various assets; Engage with other traders; Quick access to valuable market research; technical analysis; ProCharts | Demo account with virtual balance of $100,000; zero commissions on various assets; Engage with other traders; Quick access to valuable market research; technical analysis; ProCharts |
Biometric Authentication | Yes | Yes |
2-Factor Authentication | Yes | Yes |
Mobile Trading
4/5
- Proprietary mobile social trading platform
- Mobile apps offer the full functionality of the trading platform
- The app is compatible with Android and iOS devices.
Trading Instruments
eToro lets you trade over 7,000 things, like stocks, ETFs, cryptos, and CFDs for forex, indexes, commodities, and such. That’s a pretty good amount compared to big brokers like OANDA and Fusion Markets.
Asset Class | eToro | Fusion Markets | OANDA | |
Forex | 56 | Fair | 79 | 70 |
Indices | 25 | Good | 11 | 15 |
Commodities | 44 | Good | 16 | 31 |
Stocks CFDs | 6245 | Excellent | 50 | 0 |
ETFs | 732 | Excellent | 50 | 0 |
Cryptocurrency | 138 | Very Good | 5 | 2 |
Bonds | (via ETFs) | N/A | 0 | 6 |
Futures | 0 | N/A | 0 | 0 |
Options | 0 | N/A | 0 | 0 |
Forex
The foreign exchange (forex) market is huge, with over $4 trillion traded daily. It’s a fast-moving market, which makes it interesting for quick trades.
On eToro, forex pairs are traded as CFDs, so you don’t have to buy the actual currency. The CFD trading here has spreads that are not bad for major currency pairs.
eToro has over 55 currency pairs to trade, like EURUSD and GBPUSD, which is similar to other forex places. What’s cool about eToro is its big social trading group. Good traders can show off their stats, and others can copy what they do. You can check out these traders to find someone who fits how much risk you’re okay with.
Trading costs at eToro are okay, with about 1.0 pip spread for EUR/USD and no added fees. They handle trades themselves, so it’s fast with no delays. But some traders don’t like this setup because of possible conflicts. You can get up to 1:400 leverage, but in the EU and UK, that’s only for certain accounts. Regular folks in the EU and UK can only get 1:30 leverage.
Stocks
Stocks are usually seen as investments you hold for a while, giving traders lots of choices. Things like earnings reports, fresh products, and what rivals do can really move stock prices.
On eToro, you can trade over 6,200 stocks from 17 markets. You can grab real stocks or CFDs. If you grab real stocks without using leverage, you own the stock. You can even buy part of a share – like $50 of a $1,000 stock. But, you can only bet the stock will rise, never fall.
Trading stock CFDs lets you bet either way: up or down. You can also use leverage to pump up your position and maybe get bigger gains. Regular eToro clients in Europe, Australia, the Middle East, and the UK can use leverage up to 1:5 on stock and ETF CFDs. But, if you’re with eToro in Seychelles, you can get up to 1:10 leverage on the same stuff.
Cryptocurrencies
Cryptocurrencies are like digital money that’s traded on networks built with blockchain tech. Think of blockchain as a shared record book kept secure by lots of computers. Since no single company controls cryptocurrencies, rules about them are still catching up.
This crypto place lets you trade 133 different cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash, Cardano and XRP. You can buy or sell the actual coins, or trade crypto CFDs which let you bet on price changes without owning the coins. If you’re in Europe, Australia, or the Middle East, the most you can borrow for crypto CFDs is twice your money. But if you’re using eToro in the Seychelles, you can borrow up to 5 times your money.
eToro also has some interesting options. There’s one way to trade gold against Bitcoin, 14 ways to trade different cryptos against each other (like ETHEOS or BCHLTC), and 63 ways to trade cryptos against regular money (like BTCEUR or ETHGBP). Plus, they have a special section for newer, riskier cryptos. The eToro team also has a CryptoPortfolio thing, which is like a way to invest in a bunch of cryptos at once.
Commodities
eToro lets you trade stuff like oil, sugar, cotton, even natural gas. Like other big gold brokers, you can also find metals such as gold and platinum on eToro. One thing that is cool is you trade commodities as CFDs, so you don’t have to actually buy the item.
Right now, eToro has about 44 commodity CFDs you can trade. CFDs let you bet against something and use borrowed money. If you live in the EU, you can borrow up to 10 times your money. If you’re outside the EU, you can borrow even more.
ETFs
eToro has over 700 ETFs to trade, giving traders a good chance to diversify their portfolios. You can invest in ETFs as real assets or trade them via CFDs. In the UK, because of FCA rules, and in Australia, because of ASIC rules, all leveraged ETF positions are done as CFDs.
If you’re in the UK, you can invest in real ETFs by opening a regular, non-leveraged buy position. The ETFs you buy are held in your name. With CFD trading, you can also take a short position on an asset. eToro has ETFs like Vanguard S&P 500 ETF, SPDR S&P 500 ETF, and iShares Bitcoin Trust. ETFs have the same leverage limits as stock CFDs: 1:5 for retail clients registered in Europe, the UK, and Australia, and 1:10 for retail clients registered in Seychelles.
Indices
eToro has around 25 stock market indices from around the world. As a CFD broker, it lets you trade indices as CFDs, so you can use leverage to buy (go long) or sell (go short). Some of the more popular indices on eToro are the US Dollar Index, GER30, NSDQ100, DJ30, UK100, SPX500, AUS200, ESP35, JPN225, and FRA40.
For retail clients of eToro (Europe) Ltd, eToro AUS Capital Ltd, eToro (UK) Ltd, and eToro (ME) Ltd, the highest leverage allowed is 1:20 for major indices and 1:10 for others. If you’re trading under the Seychelles branch, you can get advanced leverage up to 1:100 on major indices.
Traded Instruments
4/5
- A good range of tradable asset classes
- Forex, Stocks, ETFs, and cryptocurrencies offering above average
- Investing and CFD trading are both available
- Competitive but marked-up spreads for Forex, Spot Metals, and Equity Indices
- No futures and options CFDs
Trade Execution
eToro works as a market maker. This setup has some cool perks: super quick trades, small spreads, and no commissions. Basically, eToro posts buy and sell prices for stuff, showing how much they’re willing to trade. This helps make the market flow smoothly, and they make a bit of cash on the difference between the buy and sell prices.
eToro helps keep things moving in the financial markets, giving investors a place to trade. They show prices for a set amount of shares, and when someone wants to buy, they sell shares from what they have on hand. This makes things easy and lets them earn money on the price difference. eToro uses STP (Straight Through Processing) for some things, but you can’t use ECN (Electronic Communications Network) with them.
Trade Execution
3/5
- Dealing Desk broker
- Fast execution, marked-up spreads, and no commissions
- No ECN execution
Deposits
This broker lets traders add money to their accounts in a few easy ways: bank transfers, credit or debit cards, and e-wallets like Skrill, PayPal, and Neteller.
To deposit, just click deposit funds, enter how much you want to add, and pick your payment method. Simple as that. Keep in mind that how long it takes for the money to show up depends on the payment method you pick.
Method | Processing Time |
Credit and Debit Cards by Visa or MasterCard | Instant processing of deposits |
PayPal | instant processing |
Neteller | instant processing |
Skrill | instant processing |
UnionPay | instant processing |
FasaPay | instant processing |
Bpay | processing time between 12 and 48 hours |
Wire Transfer | processing time between 2 and 5 business days |
Deposits Methods
4/5
- Minimum deposit of $200 (for most regions)
- Fee-free deposits
- A diverse selection of payment options
Withdrawal Methods
Withdrawing money from your eToro account is pretty straightforward. You can use your credit/debit card, or a bank transfer.
Just log into your account and find the withdraw funds button on the left side of the page. Type in how much you want to take out, fill out the form, and send it off.
Keep in mind, you can only withdraw up to what’s actually in your account, not counting any margin you’re using. So, double-check your balance first.
eToro usually gets withdrawal requests processed in about a day, as long as they have got all the info they need. How long it takes to get to you depends on how you’re getting paid. E-wallets are fastest at around a day. Bank and card take a bit longer, like 3-8 days.
Withdrawal Methods
3/5
- Multiple withdrawal methods
- Low fixed fee of $5 for withdrawals
- Conversion fees apply to non-USD deposits and withdrawals.
Customer Support Contacts
The broker has a client support team that knows their stuff and is ready to help with questions about anything from general stuff to tech issues and account problems. You can get in touch with them through:
Support Contact | Available | Response |
Live Chat | 24/7 | Less than 30 seconds |
Social Media | 24/7 | Less than an hour |
FAQs | 24/7 | On the website |
Live Chat: To access the Live Chat function, you will need to log into your live trading account to start the live sessions. Then, the broker’s support team responds fast within seconds via Live Chat.
Email Contact: There is no specific email address on the website; however, you can send a query via the “Open a New Ticket” button on the customer service page.
FAQs: The “help center” of the broker’s website contains various FAQs that answer some of the common questions that traders may have.
Social media channels: The broker can be reached via social media channels, such as X, Facebook, LinkedIn, Instagram, and YouTube.
Support Contact
2/5
- Good FAQs content
- Live Chat
- Social media channels
- No dedicated email contact.
Research and Educational Materials
eToro gets that research and learning stuff is super important for traders to get better. That’s why they have a bunch of resources like articles, guides, videos, market breakdowns, online classes, and news to keep everyone in the loop with what’s going on in the markets.
The broker’s research team carries out an in-depth analysis of the various financial assets and come up with educational content, including:
eToro Academy
News reporting and commentary
In-depth analysis
Video analysis and commentary
The week ahead on key markets
Research & Education
4/5
- Comprehensive educational content available
- A strong range of research and commentary materials
- Good selection of webinar content to attend
Security and Money Guarantees
When picking an online trading broker, think about security and any money-back guarantees. Keeping your account safe is super important. That’s why we at BestBrokers.com always say: go with a broker that’s watched over by the authorities.
For example, eToro follows the rules of a few agencies like ASIC, FCA, and CySEC. These groups work to keep investors’ money safe. The most you can get back if a broker goes broke depends on who’s in charge. CySEC covers up to €20,000, while the UK’s FCA covers up to £85,000.
Also, eToro sticks client funds in a separate bank account that isn’t used for their own money. This keeps your money safe if they go out of business.
Finally, eToro keeps your info safe with SSL encryption. They also use two-step verification for extra security. This sends a code to your phone when you log in, which you have to type in to get in.
Security of funds
4/5
- Segregating client funds pretty much comes as standard now
- Negative balance protection
- Multiple regulations: FCA, ASIC, CySEC, and more.
Conclusion
We at BestBrokers took a good look at eToro. We think it’s a solid choice for new traders, especially if you’re into copying what more experienced traders do. eToro is watched over by a bunch of financial regulators like ASIC, FCA, and CySEC. Plus, they’ve got a wide range of things you can trade. Here are some key things about them:
- 7,000+ trading instruments
- Marked up spreads
- Proprietary trading platform
- A good selection of educational resources
- Fast trade execution
- Large copy trading community
Overall
3/5
- Regulated in multiple jurisdictions
- 7,000+ trading instruments
- Retail, pro, Islamic, and Demo account options
- Fair trading costs
- Proprietary trading platform
- Strong educational content
- Negative balance protection
- Market maker
