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eToro Review 2023.
Advertiser Disclosure : Some of the links in this post are from our partners. We might receive a compensation (at no additional cost to you).
This content is not intended for US users. eToro USA LLC does not offer CFDs, only real Crypto assets available.
eToro is a multi-asset brokerage company and cryptocurrency exchange known for trademark cryptocurrency its copy and social trading. eToro was founded in 2007 by Ronen Assia, Yoni Assia, and David Ring. They offer eToro CFD trading, cryptocurrencies, stocks, and ETFs. eToro operates in more than 140 countries and has millions of registered eToro users.
Company headquarters are in Israel, Tel Aviv-Yafo. eToro has registered offices in Cyprus, United Kingdom, the United States, and Australia. Since 2018, the company's value grew from $800 million to $2.5 billion in 2020. eToro is a safe broker, regulated by top-tier authorities.
Summary:
Before beginning our full eToro review, let's start with a quick overview.
eToro is great for copy social trading and cryptocurrency trading; we recommend it to beginner and advanced traders. It is excellent for $0 commissions for US stock trading. One of the downsides of eToro is their forex and CFD trading fees, which are a bit higher than most of its competitors.
Disclaimer : CFDs are complex instruments that come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. Make sure you understand how CFDs work and if you can afford to take the high risk of losing your money.
Is eToro Safe?
While eToro is an established and reliable company that millions of eToro users trust, we take a look at the safety of the eToro trading platform. To avoid scams, here are a few things to consider.
eToro is safe, secure, and reliable . Your funds are kept in secured tier 1 banks. All of your personal information is kept secure under SSL encryption. You should always look for security signs in your browser window before trading. eToro respects your privacy and the user has complete control over the account settings. Your data is never shared or sold to third-parties. eToro is regulated by tier-1 financial regulators , including FCA, ASIC, CySEC, and FinCen. Clients' funds are kept secure at trusted banks, and their personal information is protected under an SSL certificate. You should always look for security signs when trading through your browser.
UK investors are protected by the Financial Services Compensation Scheme (FSCS). European investors under eToro Europe are protected by the Investor Compensation Fund designed for Customers of Cypriots Investment Firms up to €20,000.
The company is not listed on a stock exchange and is not a publicly-traded company. eToro is planning to go public soon, with a possible listing on the stock exchange.image
Users have an option to enable Two Factor Authentication ("2FA") which adds an extra layer of security.
Trading Platform eToro Demo account: Yes Minimum Deposit: $50 - $200 Minimum Trade: $50 - $1000 (less with leverage) copy trading crypto app Trading: copy trade cryptocurrency Yes Mobile App: iOS, Android Desktop: N/A Web Platform: Proprietary Countries not available: Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria and Venezuela (full list) Deposit Methods: Bank Transfer, Maestro, Visa, MasterCard, crypto copy traders Diners Club, PayPal, Skrill, Neteller Withdrawals: 3 - 8 days Islamic Account: Yes Regulated by: FCA, CySec, FinCen, ASIC Our Score: 4.9/5.
The eToro trading platform has a general main appeal for social trading. This allows users who don't want to trade to copy the trades of successful investors. eToro allows this by providing a messaging feature, a social media feed, and other similar add-ons that we will explain in further detail. Fully automated trading systems are not permitted.
eToro has facilitated more than 300 million trades. The company is expanding its operations, focusing on entering the Asian markets to provide brokerage services to China and Hong Kong.
Here is a list of eToro subsidiaries registered:
United Kingdom : eToro U.K. Ltd. regulated by Financial Conduct Authority (FCA) Australia : eToro AUS Capital Pty Ltd. regulated by the Australian Securities and Investments Commission (ASIC) Cyprus : eToro (Europe) Ltd. regulated by Cyprus Securities and Exchange Commission (CySEC) United States : eToro USA LLC regulated by US FinCEN.
eToro Compared To Similar Trading Platforms.
Here is an overview of how eToro compares to the trading platform of others:
They have a web-based and a mobile platform, however no desktop platform is available.
Their interface has 26 different languages available. It looks polished and modern, appealing to a young audience in opposition to the classic and sometimes outdated platforms offered by other brokers.
One downside is that the eToro workspace is not customizable, you will have to feel comfortable with the interface as is.
Mobile App.
Both the web platform and mobile app offer a two-step login, which increases their level of security for users. Search functions are predictive. They allow you to browse through a large number of available securities on your mobile device.
Both versions include real-time market price alerts and notifications and can be sent via push notifications.
Reports are available under the portfolio tab. You can find a summary of your trades, their market value, and the fees paid. An account statement is available, summarizing the operations made during a certain period.
Minimum Trade Size.
The minimum trade size as of December 6th, 2020.
Market Minimum Trade Size Crypto $10 Stocks and ETFs $10 Currencies $1,000 Commodities $1,000 Indices $1,000 Copy Trading $1.
*The minimum trade size includes leverage. If an user wants to open a position on oil (commodity – $1000 minimum), they can open it with $100 using 10x leverage. The minimum for eToro copy trading is $200 and the minimum for each copied trade is $1.
Active and high-volume trades will need to look elsewhere, as the small maximum trade sizes will not suffice most.
eToroX.
eToroX has all the features that institutional-grade exchanges have. It is a cryptocurrency-only exchange. This makes it great for institutional and professional traders. eToroX offers margin trading, APIs, fast order execution, and USD deposits.
eToroX fees.
There are no deposit fees on eToroX.image Trading fees range base on an inverted Maker-Taker model. Instead of charging the taker and rewarding the maker, the fees are 5 basis point per side. Non U.S. clients incur a currency conversion fee for withdrawals and deposits (starting at 50 basis points). Inactivity fee is $10 per month after 1 year of inactivity. There is a crpyto transfer fee for transferring crypto out of eToro.com and into the eToro Money crypto wallet (depends on the coins you are transferring).
eToro Fees.
eToro fees are on the low-end of the industry. They don't charge fees for US-listed stocks. CFD fees are low and they are built into the spread. For stock indexes, the S&P 500 CFD fee is 0.75 while the Europe 50 CFD fee is 3. Cryptocurrencies have a fee of 1% added to the spread when buying or selling crypto assets. The fee is included in the price shown when users open or close a position. You get ownership of the asset, unless trading under ASIC (Australian Securities & Exchange Commission).
Currency pairs are expensive to trade, as the cost of the EUR USD currency pair is 3 pips while many other brokers charge between 0.6 and 1 pip per trade. Traders looking for forex brokers are better off elsewhere. Higher spreads are not great for active or high-volume traders. We suggest looking at Pepperstone or Avatrade.
Deposit fee.
There is no deposit fees. Most brokers don't charge a fee for depositing money.
Withdrawal fee.
eToro has a $5 withdrawal fee for bank transfers. This is in line with industry standard.

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