eToro

Excellent all-round offering

Minimum deposit $10

Overall Summary 4.7/5 stars rating based on analyzing 300+ criteria and testing the broker’s trading  platforms and tools

Regulation	5.00
Platforms and tools	4.50
Commission and spreads	4.70
Education and Research materials	4.50
Costumer support	5.00
Mobile trading	4.50
Overall Rating	4.70

Review

Etoro was founded in 2007. It is a market-leading global investment community where traders can copy the trades of experienced investors and opportunity to get in touch with their investing strategies.

Regulatory Compliance

eToro is a safe and fully regulated broker. The eToro offers services through its regulated eToro companies to millions of people in more than 140 countries around the world. As a global entity, each eToro regulated company follows the local regulatory framework. eToro (Europe) Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC). eToro (UK) Ltd, regulated by the Financial Conduct Authority (FCA). eToro is available also for United States clients, as it follows all SEC (Securities and Exchange Commission) and FINRA (Financial Industry Regulatory Authority) regulations in United States.

Broker’s Investment offerings

eToro offers over 5,000 instruments from a wide range of asset classes. These include Stocks, Indices, ETFs, Currencies, Commodities and Cryptoassets. The table below has summarized the available markets in eToro:

Trading Platforms and tools

eToro has easy to use multi-asset web trading platform and intuitive mobile app.

Trading Features:

• Virtual portfolio – Upon opening an account with eToro, each user receives a free $100,000 demo account. You can build, practice, and experiment with a personal virtual portfolio.
• Research tab – you can gain insights from leading analysts in one place, as the Research Tab aggregates the cumulative knowledge of investors and experts from some of the world’s leading financial institutions.
• Stop loss and take profit – To help better manage your positions, protect your trades, and secure your profits, eToro enables you to set predetermined price points for closing an open position.
• ProCharts – a professional-grade technical analysis tool, ProCharts enables you to compare charts from different financial instruments and/or different time frames.
• Trailing stop loss – This feature is an expansion of the Stop Loss feature, enabling you to keep a position open, as long as the markets are moving in the direction that benefits your trade.
• Multiple watchlists – it allows you to track and follow your favorite assets in one place. You can create as many lists as you wish, customize them, and receive volatility alerts about your assets straight to your mobile device.
• Offline trading – Because trading is often a 24/7 business, eToro allows specific trading orders to be placed, even if the electronic trading platform is down for maintenance.

Spreads and Commissions

There are five types of fees on eToro – conversion fees, spread, overnight fee, withdrawal fee and inactivity fees.

Conversion fees – eToro charges this fee when the deposit and withdrawal of currency that is not USD. They also charge a conversion fee when you withdraw funds from your eToro investment account in any of these currencies. Conversion fees vary according to your payment method and currency.

Spread – eToro provides two-way prices to its clients. The spread is the difference between the SELL (bid) price and the BUY (ask) price of a certain asset.

The spread is reflected in the valuation of a position as soon as it is opened.

On eToro, every position is subject to:

• The market spread (determined by the market, not by eToro).
• A markup charged by eToro when you open and close the position.
It is possible for some stocks to be commission free, in which case eToro charges only the spread, with no markup charge.
Overnight fees – payment for holding a position overnight
Withdrawal fees – there is $5 charge for any withdrawal request
Inactivity fee – $10 is charged after 12 months of inactivity

Costumer support

eToro has a great costumer support team which can be reached via Chatbot and Live chat. The chatbot is available 24/7. It is a fast and efficient way to help. You can also use Live chat with agents in real time available Monday to Friday (the availability hours depends on the country). eToro also has the option to open a ticket at their costumer service center and get a response in 48 hours via email. They can also be reached by phone. As we can see eToro has great costumer service options available to their clients.

Reputation

eToro is a great broker with multi-asset trading platforms and excellent customer service team. It is considered a safe broker to use as it is regulated worldwide by all regulatory entities. It serves more than 140 countries worldwide and has excellent clients’ testimonials.

Education and research materials

eToro has great educational programs and research materials. eToro has an educational section in their website. There you can find the eToro Academy. There are many courses available in this academy for different levels of trading education and experience. eToro also has market news and analysis available to their clients.
Deposit and Withdrawal Methods
eToro has a variety of methods for deposit and withdrawal which makes it very convenient for their customers. The deposit methods include bank transfers (wire transfers), debit and credit crads, electronic wallets (PayPal, Neteller, Skrill, iDEAL,Klarna, POLi, Przelewy 24) and online banking. Depositing money in eToro account is free of charge. However, eToro accounts are dominated in USD, so if you deposit funds in currency other than USD, you will be charged currency conversion fee.
eToro offers Bank transfer, debit or credit card and electronic wallets for withdrawal methods. A great feature for eToro is the ability to withdrawal fund through e-wallet. This option is rear among other online brokers. All withdrawal transactions come with $5 fee.

Deposit and Withdrawal Methods

eToro has a variety of methods for deposit and withdrawal which makes it very convenient for their customers. The deposit methods include bank transfers (wire transfers), debit and credit crads, electronic wallets (PayPal, Neteller, Skrill, iDEAL,Klarna, POLi, Przelewy 24) and online banking. Depositing money in eToro account is free of charge. However, eToro accounts are dominated in USD, so if you deposit funds in currency other than USD, you will be charged currency conversion fee.
eToro offers Bank transfer, debit or credit card and electronic wallets for withdrawal methods. A great feature for eToro is the ability to withdrawal fund through e-wallet. This option is rear among other online brokers. All withdrawal transactions come with $5 fee.

Broker`s Pros and Cons

Pros

• Fully licensed and regulated.
• Multi – asset platforms
• User friendly platforms, make eToro great for beginner users
• Social trading- a community of over 30 million users
• Investing with experts – unique portfolios and ability to copy top traders

Cons

• Algorithmic trading strategies are not supported at eToro
• Conversion fee
• Inactivity fee

CFDs are complex instruments and come with a substantial risk of losing money rapidly due to leverage. Between 74% and 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 substantial risk of losing your money.