eToro is the world’s largest social investing community and a popular and trustworthy investing solution for millions around the world.
eToro has created a multi-asset investment platform that is built on social collaboration and investor education: a community where users can connect, share, and learn.
eToro maintains its excellent reputation by placing great emphasis on transparency, security, regulation, and ongoing communication with clients. You can learn more about the reasons to trade and invest with eToro in this Review.
In this eToro review, we explore everything there is to know about the broker – covering supported markets, fees, account minimums, user-friendliness, safety, payments, and more.
eToro is a leading online broker that is regulated by the FCA and covered by the FSCS. Lets us now take a look at the eToro Journey From 2007 to till Now, How it has emerged as the world’s largest social investing community.
Journey From 2007 to 2022
- Jan 2007- eToro is born
- Three entrepreneurs set out to disrupt the world of trading. Their mission: To make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions
- Sep 2007- Visual FX trading platform Launch
- The first iteration of e-Toro: an online trading platform that makes trading easy to understand, and even fun, using graphic representations for various financial
- May 2009 – WebTrader
- eToro launches its cutting-edge, intuitive trading platform, enabling anyone, anywhere to trade financial assets online. WebTrader included professional tools for both beginner and advanced traders.
- Jul 2010- OpenBook
- The world’s first social trading platform. Enabling anyone in the world to join the Fintech revolution by copying other successful traders using the innovative CopyTrader™ feature. The platform attracted global attention, winning Finovate Europe Best of Show for 2011.
- APR 2012- The eToro mobile app
- Both WebTrader and OpenBook are made available via a handy mobile app. Using their Apple or Android smartphone, clients could perform any action on the platform on the go.
- Jul 2013 – Introducing stocks
- Alongside commodities, currencies, and other assets on e-Toro, a wide selection of stocks was added (and is ever-growing), enabling traders to diversify their portfolios even further by investing in the global stock market.
- Oct 2015 – The new eToro
- Integrating both WebTrader’s online trading capabilities and OpenBook’s social trading features into one intuitive and innovative interface.
- Feb 2016 – Introducing CopyPortfolios (known as CopyFunds)
- CopyPortfolios group assets or investors together based on a theme or strategy, such as 5G, cloud computing, and renewable energy. Some portfolios use advanced algorithms, machine learning, and AI to build investment strategies and curate assets to form particular CopyPortfolios™ based on market conditions.
- Feb 2017 – Adding crypto
- After pioneering bitcoin trading in 2013, e-Toro expanded its digital asset offering, enabling clients to trade and invest in ether, XRP (by Ripple Labs), Litecoin, and other popular cryptos.
- Mar 2019 – US crypto platform
- eToro begins Phase 1 of servicing the US market. Bringing US clients our unique offering of digital assets and copy trading is only the beginning! Stay tuned for more to come…
- May 2019- Introducing 0% commission stocks to the world
- Setting the word free of commission. Zero commission means that no additional fee has been charged on top of the market spread. eToro never charges any management, administration, or ticketing fees.
- Nov 2021 – Launch eToro Money
- e-Toro Money is launched, a new financial service offering users a holistic approach to investing. Providing an account, a Visa debit card, and an app for easy management, eToro Money allows users to enjoy instant withdrawal and no FX conversion fees.
- Jan 2022 – Stocks, crypto, and beyond
- e-Toro officially launches stock investments in the US. Fractional share investing with zero commissions in over a thousand stocks and an array of ETFs were open to a majority of US States.
E-Toro Review Features
|License||Licensed from UK, Europe, Aus, Seychelles|
|Tradable Assets||Crypto, Stocks, ETFs|
|Fees & Commissions||Crypto Trading Fees, Stock Trading Fees, ETF Trading Fees|
|Deposit||Credit Card, e-wallets|
|Banking Methods||Credit Card, e-wallets, Bank Transfer|
|Virtual Account||copy trading, Smart Portfolios, and more.|
|Products||Crypto, ETFs, Forex, Shares, Commodities, Indices|
|Cryptocurrency Supported||40+ cryptocurrency|
|Mobile Application||Available for Both Android and iOS|
|Security||Two-factor authentication, FDIC insurance|
|Customer Support||Chat, Email and Telephone|
Etoro has Multiple licenses from different countries for the uninterrupted working of the organization. Below is the list of licenses held by e-Toro.
- eToro (Europe) Ltd., is a Financial Services Company authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under license # 109/10.
- eToro (UK) Ltd, is a Financial Services Company authorized and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.
- eToro AUS Capital Limited is authorized by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139.
- eToro (Seychelles) Ltd. is licensed by the Financial Services Authority Seychelles (“FSAS”) to provide broker-dealer services under the Securities Act 2007 License #SD076
eToro offers an easy-to-use interface that gives beginner investors the confidence and information they’ll need to conduct profitable trades.
The first thing we noticed was a live snapshot of the biggest stocks and cryptocurrencies on the market. As the value of each item rises and falls, you’ll be the first to know.
Their “Big Movers” section gives traders a clear picture of the stocks and cryptocurrencies that are doing exceedingly well in real-time. If there were ever a time to hop on the investment bandwagon, it would be now.
Similarly, you can see exactly which investors are making a killing on particular trades. If you trust their judgment, you can get what they’re having with one or two clicks.
Overall, their desktop website is butter-smooth and lag-free. It does away with complicated sidebars and impossible-to-understand flow charts in favor of easily digestible categories and self-explanatory icons.
We couldn’t ask for a more beginner-friendly option. eToro removes the hassle and frustration from getting acquainted with their platform and making your first trade.
How to Open a New Account on eToro:
Please follow the steps below in order to open a new trading account
2 On the following web page, you will see an electronic form where you will be able to enter all the personal data that is required to open a new trading account.
3 Please fill in all the relevant information requested in this form. Logging in via Facebook or Gmail are additional options
5 Upon completing your review of all the terms, please indicate your agreement with them by checking the appropriate box.
6 Submit your information by clicking the “sign-up” button.
7 As part of the KYC process, newly registered investors are required to provide a Confirmation of Residence (e.g. a valid utility bill dated the last 3 months,) as well as a Proof of Identity such as a valid passport, or another form of officially issued photo ID.
How e-Toro works
eToro is purely a cryptocurrency exchange. Users deposit fiat currency, such as U.S. dollars, into their accounts (or transfer other cryptocurrencies) to use on the platform. For seamless transfers, users can link their bank account or can choose to deposit funds via wire transfer instead. Withdrawals of U.S. dollars can be made directly to the user’s bank account.
Once an account is established, cryptocurrency trading can be done on eToro’s web-based platform, or on its user-friendly app. If you don’t know what to buy, you could use the CopyTrader feature to replicate the trades of one of the traders in eToro’s Popular Investor program.
And if you don’t want to dive right into cryptocurrency trading with your hard-earned money, e-Toro is a great place to learn. e-Toro users get a demo account that is credited with $100,000 put in a “virtual portfolio.” This lets you experience cryptocurrency investing and trading without the risk while you’re learning.
In comparison to other stock trading platforms, eToro brings:
- Tons of educational resources
- 40+ cryptocurrency options
- Comprehensive copy trading program
- Low Forex and CFD fees
- Immersive interface
- Streamlined mobile app
One of the more unique features of the eToro platform is its CopyTrader feature. Essentially, this allows eToro users to copy trading done by their favorite high-performance traders with one click. Just set the amount of money you want to use.
e-Toro automatically allocates those funds proportionally to mirror the positions of your favorite eToro trader. And there are no management or other fees charged by this social trading platform. To use this trading tool, users can choose to copy just one successful trader or as many as 100 at the same time.
There are only a few places where you can trade cryptocurrencies and stocks in the same place, and those that offer both tend not to have an excellent cryptocurrency selection. e-Toro offers perhaps the best selection of digital assets that can be combined in the same account as stock investing.
eToro offers zero-commission stock trading with the ability to buy fractional shares. And if you’re new to investing or just want to see if the platform is right for you, eToro offers a virtual brokerage account to let you test-drive it without putting real money at risk.
We will explore what trading markets users have access to.
Following are the tradable assets available on e-toro to trade in.
Those looking to gain exposure to digital currencies will likely find that e-Toro is the overall best place to buy crypto. The eToro crypto platform supports more than 70 tokens as of writing, albeit, this number continues to grow as per client demand.
Not only can users buy Bitcoin on eToro alongside other large-cap tokens – like Ethereum, Cardano, and Dogecoin, but plenty of Defi tokens too. Examples here include Decentraland, Uniswap, Compound, and The Graph.
What we really like about the crypto department at eToro is that the platform requires a minimum trade size of just $10 (about £8). This means that investors can gain exposure to expressive tokens like Bitcoin, which trades for thousands of dollars.
As we explain in more detail shortly, e-Toro also offers crypto-centric Smart Portfolios. This means that through a single trade, users can invest in a broad basket of cryptocurrencies, which is managed and maintained by the eToro team.
Previously, eToro also offered leveraged crypto CFDs. However, as per FCA regulations, only professional clients can access this product.
In our eToro review, we found that the broker really stands out when it comes to shares. First and foremost, e-Toro is home to more than 2,500 shares from a variety of markets.
This covers most companies listed on the FTSE 100, with popular shares including Vodafone, BP, BT, Royal Mail, GlaxoSmithKline, and Rio Tinto. With that said, many investors will use eToro to invest in shares from overseas markets.
This is inclusive of both the NYSE and NASDAQ, which means that it is possible to buy shares in Amazon, Apple, IBM, Tesla, Microsoft, Nike, Disney, and more.
Additionally, e-Toro also offers access to markets in Germany, France, the Netherlands, Hong Kong, and more.
- In terms of minimums, eToro offers fractional shares from just $10.
- This means that instead of needing to buy a full share, eToro users in the UK can invest just a few pounds.
- This will suit newbie traders that wish to access the share markets without breaking the bank.
- Furthermore, this also makes it a breeze when it comes to creating a diversified portfolio.
- For instance, a deposit of $150 (about £120) would allow the user to buy shares in 15 different companies.
Although we cover fees later in this e-Toro review, we should note that all shares listed can be traded at 0% commission and without stamp duty tax.
Another thing to note about shares at eToro is that it offers dozens of Smart Portfolios which offer the chance to invest in a diversified portfolio of shares that is managed by e-Toro.
When buying dividend stocks and shares on e-Toro, users will receive their payments directly. This will be reflected in the trader’s account balance, which can then be used to buy more shares or request a withdrawal.
Note: Shares can also be accessed via CFD trading on eToro This means that users can apply the leverage of up to 1:5 on a position and even elect to short-sell a company.
Exchange-traded funds (ETFs) are also popular at e-Toro. This financial instrument allows users to invest in a group of assets via a single trade. Not only does this include shares, but commodities like gold and silver too.
At eToro, there are hundreds of ETFs, many of which are managed by tier-one institutions like iShares, Vanguard and SPDR. To invest in an ETF at eToro, just $10 is required.
ETFs will potentially suit those that wish to invest in a broader stock market index, like the FTSE 100, Dow Jones, or S&P 500. This is because dozens or even hundreds of shares can be purchased via an ETF through a single trade.
Note: ETFs on eToro can also be traded via CFD instruments. This means that users can apply the leverage of up to 1:5 on a position and even elect to short-sell an ETF.
Forex is the largest trading marketplace globally and consists of investors buying and selling currency pairs like GBP/USD or AUD/USD. If forex trading is of interest, investors will be pleased to know that e-Toro offers dozens of pairs.
All major and minor pairs are covered, as well as a good selection of exotics. The latter includes currencies like the South African rand, Hungarian forint, and Mexican peso.
It is important to note that the forex department on eToro is represented by CFDs. This means that users can trade the future value of a forex pair without owning the underlying asset.
This also means that users can apply the leverage of up to 1:30 on majors and 1:20 on minors and exotics. For instance, a £100 stake on a major pair GBP/USD could be amplified by 30 times, which would take the trade value to £3,000.
In terms of minimums, forex pairs at e-Toro need to be traded at a stake of at least $1,000 (about £815). However, when applying the maximum rate of leverage at 1:30, the minimum capital outlay is reduced to $33.33 (about £27).
Another popular financial instrument that can be traded via CFDs at eToro is indices. These are specifically linked to index funds such as the Dow Jones or FTSE 100.
Unlike ETFs that track stock market indexes, indices at e-Toro are more suitable for short-term traders. This means that they give investors the opportunity to speculate on whether the indices will rise or fall.
In total, eToro offers access to 15 different indices from a wide variety of markets. This is inclusive of the China 50 and Hong Kong 50, which are both great for gaining exposure to the Asian economies.
The EURO STOXX 50 is also supported here, which is an index that tracks 50 large-cap companies from the European single market.
The minimum trade size on indies at e-Toro is $200. With that said, indices positions can be entered with leverage of up to 1:20.
In our eToro review, we found that the platform also offers an impressive commodities trading suite. This covers the three core commodity types – metals, energies, and agricultural products.
Metals are inclusive of gold, silver, copper, palladium, and platinum. Energies are inclusive of oil and natural gas. Agricultural products include sugar, cocoa, and cotton.
It is also possible to trade oil via futures, with e-Toro supporting a range of expiry dates. Commodities on the e-Toro platform are backed by CFD instruments.
Once again, this means that investors have the opportunity to go long or short on a commodity without taking ownership. Gold can be traded with leverage of up to 1:20, while other commodities come with lower limits at 1:10.
Those that wish to invest in commodities directly can opt for a suitable ETF. For example, eToro offers access to the SPDR Gold ETF and the iShares Silver Trust.
Deposits at e-Toro
Deposits on eToro are divided into instant payment methods and ones that might take longer like a Bank Transfer.
Instant payments like Credit Card, e-wallets, and others will appear immediately on your e-Toro account.
Other methods might take several business days to arrive depending on the payment provider chosen. When sending a Bank Transfer, please make sure to take the bank details from the e-Toro platform according to the chosen currency.
It is of the utmost importance to include the unique Transaction ID to allow e-Toro to efficiently recognize the transfer and credit your investing account.
Key points on Withdrawals at e-Toro
Withdrawals at eToro have a flat fee of $5 USD. *Except in the USA where they do NOT charge a withdrawal fee.
A withdrawal in e-Toro has 2 stages. Once received, the request to withdraw will be processed by our teams within 2 business days.
Following the processing, a withdrawal will take an additional 3-8 business days until the funds arrive at the used method of payment.
It is important to note that this time period depends entirely on the payment service provider.
Emails will be sent at both stages confirming the request was received, that the withdrawal has been processed, and to which method of payment it was withdrawn.
eToro prides itself on offering transparent pricing that is easy to understand. Instead of charging a complex two-part fee structure like some of its rivals, e-Toro makes its money from a spread between the offer price and the asking price on its platform.
For example, a cryptocurrency that e-Toro is willing to pay $20 for and is willing to sell for $20.20 would have a 1% spread.
The spread depends on the particular cryptocurrency, and here’s what you can expect for the cryptocurrencies available on eToro:
eToro provides all registered users with a Virtual account that perfectly imitates the real account with an initial amount of $100,000 to trial the platform without risking users’ own funds.
This is a safe environment to learn all about the platform and its unique features like CopyTrading, Smart Portfolios, and more.
Trading disruptions are situations in which markets cease to function regularly, usually defined by fast and extensive movements in the market. There is no one specific reason for this – they can derive from unusual trading (such as a crash or a pump) or physical threats to the stock market.
No matter what the case is, trading disruptions are a result of the unusual conditions in the market, which can cause panic and disruptions to trading.
Why you might not be able to open or close a position during a market disruption
- Lack of liquidity, or inability to receive pricing from our liquidity providers
- A stock might be halted by the exchange
- Inability to open SELL positions due to an asset being “unborrowable”
- An unborrowable asset is an asset that won’t be lent out to short-sellers, which might happen when there is no one willing to lend out the asset.
- The extreme volatility of different asset types.
In general, when an asset is not available during halting periods, set order rates that are triggered (Stop Loss, Take Profit) during the halt will be executed on the next available executable rate when trading resumes.
eToro offers basic security features, including two-factor authentication, identity verification, and crypto cold storage.
Here are the details of some of eToro’s security features:
- Two-factor authentication: e-Toro users can enable two-factor authentication (2FA) via SMS.
- Biometric access (mobile apps): e-Toro supports biometric verification via fingerprint scanning through its mobile app.
- Cold storage: e-Toro states that most of their cryptocurrency is stored offline, though it doesn’t say what percentage.
- FDIC insurance (up to $250K): eToro protects all USD funds with FDIC insurance up to $250k.1 This does not insure your cryptocurrency holdings.
Customer Support Options
eToro offers phone and ticket support, but their phone support line is restricted to e-Toro club members only. In order to become an “eToro club member”, you’ll need to have $5,000 or more in equity with the site.
If you’re a beginner investor who’s just learning the ropes, not having phone support on hand may be enough to turn you away from this platform.
However, if you decide to sink $5,000 into your e-Toro money wallet; you’ll have a personal account manager at the ready to enhance your trading experience.
In their defense, eToro’s email response team is competent enough to answer any questions you may have in a quick and professional manner. Upon putting in a support ticket, we received a lengthy email reply from a real person within 3-4 hours.
To clarify; most crypto exchanges take 24-48 hours to respond to customer inquiries. It’s nice to see this broker prioritize their members so readily.
Needless to say; eToro’s arbitrary support restriction leaves an unsightly blemish on an otherwise reputable, beginner-friendly, and comprehensive platform.
Etoro Mobile App
EToro has an Application for Android and iOS users, which can be downloaded from the Play Store and APP store respectively.
- Regulated by the SEC and FINRA
- 70+ cryptocurrencies
- Mobile app for iOS and Android
- Thousands of commission-free stocks and ETFs
- The minimum trade size is just $10 across all supported markets
- US clients can get started with a minimum deposit of just $10
- USD payments via debit/credit cards and e-wallets are fee-free
- Secure e-Toro wallet for crypto investments
- No support for third-party trading platforms like MT4
- US clients can not access forex, commodities, or indices
eToro is a decent option for investors and traders who want access to the most popular crypto options on a simple user interface. It also offers the CopyTrader program, which is unique in the industry and allows users to copy popular traders’ investments.
There are no hidden fees or commissions, making e-Toro one of the more transparent crypto exchanges out there. e-Toro also has more positive user reviews than most crypto exchanges, with reviewers mentioning good customer service and trading experiences.
Overall, eToro is a great option for investors who simply want to trade crypto, but don’t want to take direct custody of their currency. It offers a fun way to share your trading ideas, and follow popular traders to learn about trading crypto from others.