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eToro Broker Review

The Best in Service Provided by an Industry Titan

Reviewed By |

Overall Rating

4.6/5

FAST FACTS

Fees: 0.75%

Best For: Beginners

Warning: eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

eToro is one of the biggest names in the industry and they are popular for cryptocurrency traders.

They have been operating since 2007, and have become a household name around the world thanks to their excellent, top-tier regulation, and the unbeatable trading experience they offer to those looking to get involved in social trading, or cryptocurrency.

They now have locations worldwide and offer services to more than 7 million traders across hundreds of countries. Through this eToro review, you will get a comprehensive look inside one of the biggest brokers on the planet to see what they can offer you as a broker choice.

Pros

  • Top-tier regulation in place
  • User-friendly trading platform
  • Great social and copy trading capabilities
  • Dedicated customer support available

Cons

  • Higher than average minimum deposit
  • Cryptocurrency Fees Higher
  • Some withdrawal fees applied

Trust

4.8/5

Safety and security are paramount across the entire industry. This applies no matter who large or small your trading volumes, or where in the world you are trading from. It is something that eToro recognizes, and takes very seriously.

eToro are extremely well-regulated by top-tier bodies around the world. These bodies include CySEC in the EU which makes the broker fully ESMA compliant, as well as the FCA in the UK, and ASIC in Australia. The broker are now also registered with FinCen in the USA as a money services business which gives them a platform to expand their service offering within the US through their American entity, eToro USA LLC.

When the coins (cryptocurrency) are in the wallet, they are stored on the blockchain (hot storage). Coins on the platform are held mostly in cold storage.

Investment Products

4.5/5

When it comes to trading at eToro, you can look forward to having a broad range of markets to choose from, along with a number of unique offerings that can provide you with more ways to get involved in trading.

They have 90 of the most popular tokens including:

Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Dash (DASH), Ripple (XRP), Litecoin (LTC), Stellar Lumens (XLM), NEO (NEO), EOS (EOS), Cardano (ADA), IOTA (IOTA), Tron, (TRON), ZCash (ZEC)  Tezos (XTZ).

If you are looking at diversifying into other investments such as forex they also offer 47 different currency pairs. Commodities, and indices trading is also available with more than a dozen markets in both categories. eToro goes from strength to strength in stock trading which you can trade either as real, or CFDs, with more than 950 stocks to choose from around the world &145 ETFs on offer.

Of course, the core of eToro is in copy and social trading. So to that end, you can get involved in copying other traders, or provide your own signals through the eToro CopyTrader product. Copy Portfolios are also available and another unique offering which allows you to copy entire baskets of assets from certain market sectors that you may be interested in.

Commission & Fees

3.9/5

eToro offers variable spreads only. The broker does a good job in maintaining an environment that can be considered as low-fee with spreads typically starting from 0.75% on cryptocurrency trades.

This means they are an entirely commission-free broker. This also applies if you are trading in real stocks and ETFs. Therefore, depending on your trading choices and volumes, you may find eToro to be beneficial when it comes to spreads and fees.

The only other fees which you have to consider with eToro are the overnight fee which is variable, and charged by every broker in the industry unless you have an Islamic trading account. eToro Islamic trading accounts are available if you require one. An inactivity fee is also levied by the broker, though the conditions here are reasonable. A fee of $10 is applied if you have not been active for a period of 12 consecutive months.

With deposit and withdrawal fees, these remain competitive overall. There are very limited fees on deposits which only apply if you are depositing with a wire transfer, or a non-base currency. The withdrawal fees meanwhile stay at a flat $5 per withdrawal.

This is not the cheapest fees for cryptocurrency trading, but the peace of mind of being with a broker that is regulated in multiple jurisdictions for many justifies the higher fees.

Trading Platforms

4.8/5

The eToro trading platform is likely the best known strength of the broker, and is one of the most user-friendly trading platforms in the entire industry. Here the eToro proprietary trading platform is offered. This platform is web-based so you can trade directly from your browser. It is also a very visually appealing platform that is extremely intuitive and with less of a learning curve than other major trading platforms.

There are more than 60 tools and indicators to give you the most detailed, and customizable trading experience possible, while you also have a full social side to the platform through which you can follow, and stay updates with the activities of other traders through a live feed section.

On mobile, the trading platform can be accessed on both iOS, and Android devices, and appears without much difference, and no loss of capability when compared with the desktop counterpart.

Customer Support

4.7/5

As you would expect from a top name in the industry, eToro provides comprehensive customer support to all traders. This is done through three common mediums which are the website-based live chat, email, and telephone support.

From the outset when you open your account with eToro, you will also be assigned a dedicated account manager who can help you with many of the more common questions and challenges you might face. The eToro customer support team are well-renowned for being fast to respond to questions, and knowledgeable in their replies. There is also support for a huge range of languages, 19 in total. This is perfect to cater for the global trader base who use eToro.

Summary

4.6/5

Overall, our eToro review showcases a broker who are at the top of the industry. This applies to all areas of trading and not only the social trading aspect for which the broker is well-known. They work hard to provide an extremely transparent, secure trading environment that is well-regulated by several top-tier bodies, along with a wide range of market choices, competitive trading costs, and one of the easiest to use trading platforms in the industry.

eToro service more than 7 million traders worldwide and are growing all the time. This is ultimately due to the string attention to detail they provide, and the level of service with which they meet all traders.

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ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.

Securities.io is not a registered broker, analyst, or investment advisor.