Let me introduce you to eToro, a broker that has transformed trading through the integration of social media and technology. eToro provides a distinctive investing strategy that sticks out in the crowded market, regardless of experience level. We’ll examine all the things that set eToro apart in this in-depth analysis, from its excellentfeatures to its costs and customer support.
eToro pros & cons
- Pros
- Established in 2007, eToro is governed by laws of three Tier-1 and one Tier-4 nation. eToro has obtained a Highly Trusted Trust Score rating.
- We selected eToro as our winner in the social copy trading and cryptocurrency trading categories for our 2024 Annual Awards.
- Fantastic for ease of use because of its mobile app, eToro, which is ideal for novice and casual investors, and its user-friendly web platform.
- With more than 3,000 symbols accessible, eToro is a multi-asset broker that is constantly broadening the markets it offers.
- provides indemnity insurance up to EUR 1 million for each client in Australia, the UK, and the EU.
Spot Bitcoin ETFs now available on eToro after the SEC’s latest clearance. - Club members and well-known investors who achieve higher tier status are eligible for VIP-style benefits.
- Weekly videos and articles, the Digest & Invest series, and the Market Bites podcast are all examples of eToro’s extended research offerings.
- Cons
- Even with the latest spread reductions and the introduction of zero-dollar charges for U.S. stock trading, trading FX and CFDs at eToro is marginally more expensive than at most of its rivals.
- At eToro, algorithmic trading tactics are not accepted.
Some trading techniques may be hampered by mandatory take-profit and stop-loss orders. - Certain eToro Club members who have attained higher Club tiers are the only ones with access to Trading Central research and tools.
Overall Summary
Overall Rating
Trust Score
89
Commissions & Fees
Offering of Investments
Platform & Tools
Mobile Trading
Education
Research
Is eToro Legal?
eToro has an overall Trust Score of 89 out of 99, making it regarded as Highly Trusted. eToro is approved by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). It is not publicly listed and does not run a bank. The Australian Securities & Investment Commission (ASIC), the Financial Conduct Authority (FCA), and the European Union’s MiFID passporting scheme are the tier-1 regulators that have authorized eToro. Find out more about Trust Score or the regulatory jurisdictions of the various eToro businesses.
Year Founded
2007
Publicly Traded
No
Bank Info
No
Tier-1 Licenses info
3
Tier-2 Licenses info
0
Tier-3 Licenses info
0
Tier-4 Licenses info
1
Offering of investments
A total of 3479 tradeable symbols are available on eToro. The various investment products that eToro clients can choose from are compiled in the table below.
Usability: eToro goes above and beyond as a multi-asset broker to ensure that traders have a seamless experience. One option offered by eToro, for instance, is to trade CFDs or the underlying assets straight from the trade-ticket window. A small but incredibly helpful function.
Cryptocurrency: eToro offers CFDs and trading the underlying asset (such as purchasing Bitcoin) for cryptocurrency trading. The recently approved spot Bitcoin ETFs are also available on eToro. eToro was voted top broker for cryptocurrency trading in our 2024 Annual Awards because of its vast array of crypto assets, including both CFDs and the underlying assets.
Note: Residents of the United Kingdom and the Netherlands, as well as retail traders from any broker’s U.K. organization, are not permitted to access cryptocurrency CFDs. Additionally, in Russia people unable to trade cryptocurrencies on eToro.
Tradeable Symbols
3479
Forex Trading (Spot or CFDs)
Yes
Forex Pairs
52
Social Trading / Copy Trading
Yes
U.S. Stock Trading
Yes
Int’l Stock Trading
Yes
Cryptocurrency (Physical)
Yes
Cryptocurrency (Derivative)
Yes
Commissions and fees
Popular Investor program: There are four levels in eToro’s Popular Investor program, from Cadet to Elite, where traders can earn different benefits if they let other investors imitate their approach. You need to attract 0 in customer assets that replicate your strategy, have more than 1,000$ in account equity, and keep your risk score below 7 for a maximum of two months in order to be eligible for the Cadet tier. Spread rebates, monthly payouts, and even a management fee for elite status are among the perks offered to Popular Investors.
Trading of cryptocurrencies: In general, eToro’s pricing for trading actual cryptocurrencies is comparable to the industry norm. Users pay a single flat charge of 1% (plus the spread) on both the buy and sell sides of every trade (both When opening and closing a position).
With its 1% flat rate commission, eToro has leveled the playing field on nearly 200 crypto assets, even though trading bitcoin has become slightly more expensive (compared to its previous pricing at 0.75%). This can be useful when trading emerging cryptocurrencies that would have otherwise been more expensive (on its previous fee schedule).
At eToro, however, the cost of changing one cryptocurrency to another is just 0.1% (plus any applicable spreads).
Exchange-Traded Securities: eToro not only allows fractional shares and offers zero-dollar commission for U.S. stock trading (which is restricted to investors in the country), but it also allows trading CFD shares. See our UK.StockBrokers.com review of eToro for additional information.
Minimum Deposit
£50-£10000
Average Spread EUR/USD – Standard
1
All-in Cost EUR/USD – Active
NA
ACH or SEPA Transfers
Yes
PayPal (Deposit/Withdraw)
Yes
Skrill (Deposit/Withdraw
Yes
Visa/Mastercard (Credit/Debit)
Yes
Bank Wire (Deposit/Withdraw)
Yes
Mobile trading apps
eToro provides a top-notch mobile experience: Multi-device users will value eToro’s high degree of simplicity of use and practically identical functionality offered by both its mobile app and web platform.
Overview of the apps: For cryptocurrency and money transactions, eToro offers two mobile apps: the eToro app and eToro Money. For iOS devices, the apps are accessible through the Apple App Store, and for Android users, Google Play.
Usability: During my testing on Android, I discovered that the eToro mobile app preserves the appearance and feel of the web version. It also has practical features like synchronized watchlists and dark and light mode themes, which contribute to the platform’s cohesive experience across devices.
Charting: Although there are only five indicators on the mobile app as opposed to 67 on the site, the charts are responsive and closely resemble the experience on the web platform. The absence of drawing tools in the app is complete, which is unfortunate because the software is otherwise well-integrated and well-designed.
Note: It should be noted that although investors can access cryptocurrency trading services on the eToro platform, retail clients are no longer able to use eToroX, the brand’s cryptocurrency exchange.
Other trading platforms
Trading tools: eToro’s CopyPortfolios function, which unites traders into a single fund for copy trading, is another cutting-edge tool. Because they can build a portfolio based solely on one or more CopyPortfolios, investors who wish to use eToro in a passive manner can find a way to bridge the gap. However, CopyPortfolios can also be used by self-directed traders to diversify their trading, which means that it could be a helpful tool for all eToro customers..
The CopyPortfolios™: eToro offers CopyPortfoliosTM, a more detached approach, for individuals who choose it that way. These are investment portfolios that are professionally managed and combine several traders or assets. The goal is to offer customers, depending on a predetermined investment topic, diversified exposure to several market sectors or techniques. It allows you to participate in a particular market trend or strategy without having to handle individual assets.
Tools for cryptocurrency trading: eToro users can copy other traders or groups of traders across 108 supported cryptocurrency pairs and discover ideas for cryptocurrency trading. Investors can utilize the eToro Mobile wallet app to withdraw underlying cryptocurrency assets from their eToro account. This app is quite similar to the brand’s FX mobile app and functions as a custodian with a multi-signature method.
Copy trading structure: eToro does not allow fully automated trading systems, or algo trading, like those offered by MetaTrader. You may therefore be certain that a trader you replicate on eToro is making each transaction by hand. Knowing this is quite helpful because most other social trading platforms that compile traders’ results typically allow both automated and discretionary (human) trading.
Virtual Trading (Demo)
Yes
Proprietary Platform
Yes
Web Platform
Yes
Social Trading / Copy Trading
Yes
MetaTrader 4 (MT4)
No
MetaTrader 5 (MT5)
No
DupliTrade
No
ZuluTrade
No
Charting – Indicators / Studies
104
Charting – Drawing Tools
161
Charting – Trade From Chart
No
Watchlists
6
Final thoughts
Retail traders who wish to use copy trading to crowdsource ideas for investments or highly experienced active traders who want to get paid for sharing their ideas with other traders will find eToro to be very helpful.
An additional advantage for less seasoned traders who need some guidance might be the user-friendly interface. However, because of the greater spreads and smaller maximum trade sizes, I do not advise eToro for active or high-volume traders (unless you want other investors to copy your approach). Algo trading is not supported at eToro.
eToro, which won first place in our 2024 Annual Awards for both social copy trading and cryptocurrency trading, is a great option. Our 2024 Industry Award for #1 Trader Community went to eToro once more.
FAQs
eToro: what is it?
Since its founding in 2007, eToro has developed into a world leader in social trading and investing, having started as a niche trading platform. The Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia are two of the financial regulators that oversee eToro, which has its headquarters in Cyprus and offices across the globe. The site is renowned for its innovative social trading tools, wide selection of assets, and easy-to-use of all its layout.
Really, is eToro free?
Spreads on eToro include the price of its copy-trading service. Therefore, even while using eToro may be “free” in terms of commissions, there are still expenses associated with trading, such as bid/ask spreads.
Commissions, spreads, or a combination of the two are how all online brokers generate revenue (and may receive rebates and the like). Other than spreads and carry charges, there are no additional fees while holding positions overnight.
Is it possible to get profit from eToro?
Yes, you can profit via eToro, but as with any broker, there’s never a guarantee. The social copy trading features of eToro, which let you choose from a sizable trader database and copy transactions in real time, are what make the platform valuable. But keep in mind that dealing with investments like stocks, forex, and CFDs—including eToro—can also result in losses.
Making wise trading and risk-management decisions is essential to being a profitable trader at eToro (whether you trade manually or through a copy trade). This will keep your average losses in line with your average earnings over time.
Does eToro make sense for novices?
Indeed, eToro is an excellent option for novice forex traders. Its trading platform is not unduly complicated and is simple to use. eToro excels at striking a balance between practical tools and features in an intuitive mobile trading app and web platform. Despite being more user-friendly for novices than some of the more complex trading platforms available, eToro does not necessarily generate money easily.
One difficulty that new users of eToro may encounter is choose which investors to follow after doing enough research and learning to consider factors other than a trader’s absolute profits.
How does eToro classify as a broker?
Depending on several circumstances including which eToro business holds your account, eToro can function as either an agency broker or a market maker. Whereas agency brokers forward your order to other market makers in exchange for commissions, profit-sharing, rebates, and widening spreads, market maker brokers serve as the counterparty to your trade. Take a look at my guide to the top forex market makers.
For example, eToro U.K. and eToro Europe both act as market-makers but can also hedge their client’s trades and act as a matched-principal (agency broker) if needed as part of the firm’s internal risk management process. It is important that brokers follow best execution rules, and eToro must comply when required to.
Disclosures
eToro is a multi-asset platform that allows CFD trading in addition to stock and cryptocurrency investing.
This communication is not meant to be used as investment advice or recommendation; rather, it is meant purely for informational and educational purposes. Future outcomes cannot be predicted based on past performance.
Investment advice is not what copy trading is. Your investments may increase or decrease in value. Your money is in jeopardy.
Investing should only be done if you are willing to lose all of your money. You should not anticipate protection in the event that something goes wrong because this is a high-risk investment. Visit eToro to learn more.
eToro USA LLC has generated this publication using publicly accessible non-entity specific information about eToro, but does not sell CFDs.
Disclaimer of Forex Risk
Trading securities carries a significant amount of risk. Leverage, creditworthiness, limited regulatory protection, and market volatility are just a few of the risks associated with margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies. These risks have the potential to significantly impact the price or liquidity of a currency or related instrument. It should not be expected that the strategies, tactics, or indications that are described in these goods will be lucrative or loss-free. Study up on the dangers of FX trading.