As known from:
Write a Review
Write a Review
Nothing Found
About TradersBest.com
Contains commercial content
Write a Review
Write a Review
Nothing Found
About TradersBest.com
eToro was founded in 2007 and now serves over 30 million users in more than 140 countries. The platform is regulated by CySEC (Europe), the FCA (UK), and ASIC (Australia), ensuring compliance with international financial standards.
The platform is well-suited for cryptocurrency investing, offering over 15 coins. Its standout feature is social trading, which lets users copy the strategies of other traders. While the platform is easy to use and requires only a low minimum deposit, forex fees are relatively high, and withdrawals can be slow and costly. In the U.S., only crypto trading is available.
| 5 Stars |
|
100.0% |
| 4 Stars |
|
0.0% |
| 3 Stars |
|
0.0% |
| 2 Stars |
|
0.0% |
| 1 Star |
|
0.0% |
eToro Review: Don’t Sign-Up For eToro Before Watching This Video 🤯
When conducting our eToro review, we want to make sure that the general usability of the site is up to scratch. Ease-of-use seems to be at the forefront of eToro’s business model and special additions such as social trading make the website a joy to use.
eToro’s website and trading app is truly a treat for those who like a clean, modern design that’s paired with brilliant functionality. The colour scheme is pleasing whilst menus and buttons are clearly labelled and are exactly where you would expect them to be.
Furthermore, the built-in search function is predictive and extremely easy to use. You can also set price alerts and notifications with a click of a button.
eToro also has multiple bonus features like CopyTrader. This is an option that allows you to choose an investor you want to copy, click a button and you can mirror their trading positions automatically. This means that you will buy and sell as and when the trader does. Users can copy up to 100 traders simultaneously or simply track other traders’ portfolios, stats, and risk scores.
eToro also offers a comprehensive portfolio and fee reports that allow you to keep on track with your investments. These reports offer a great insight into your performance and risk areas.
eToro hasn’t dropped the ball in the security department either. The broker has embraced cutting-edge security protocols, which include data encryption by default and a mechanism to prevent cyber-attacks.
User accounts are also secure as eToro customers are required to complete Level 3 Identity Verification, and updating account information requires dual-process verification.
An important aspect of our eToro review is to look at making payments. eToro makes it easy to deposit money with lots of available options to do so. However, withdrawing money will set you back and only USD accounts are available.
One thing to note is that eToro only allows USD accounts. This means that your funds will be automatically converted to USD by eToro. For example, if you deposit EUR, a 0.025% fee will be applied and the same fee will also be charged when you withdraw.
eToro charges no deposit fees but the minimum deposit is $200. Thankfully, there are a lot of depositing options, making it easy for all. These include:
If you decide to make a bank transfer deposit, it will take 4-7 business days to appear in your account but there is no maximum deposit limit.
However, credit/debit card and electronic wallet deposits are instant but the drawback is maximum deposit limits. Credit/debit cards have a $40,000 limit whilst electronic wallets can be either $10,000 or $20,000.
Unfortunately, eToro does have a $5 withdrawal fee which is high in comparison to other brokers, with many crypto exchanges not charging a fee at all.
eToro also has a $50 minimum amount limit on withdrawals. You can make a withdrawal using any of the above options, the same as making a deposit.
The time it takes to make a withdrawal on eToro depends on the method, please see the list below:
eToro has a strong customer support team that you can reach on several different channels and can expect speedy, helpful answers. However, customer service isn’t available 24/7 as you can’t reach them on weekends.
You can contact eToro’s customer service one of two ways, either through live chat or a web-based ticketing system which will trigger a response via email. The customer service is quick and reliable. However, a downside is that you cannot contact them via telephone or on weekends.
eToro’s customer service is available in all of the 21 languages the trading platforms support.
eToro is fully regulated and compliant with top-tier financial authorities, which consist of the FCA, ASIC, and CySEC. However, some may be put off by the lack of a banking license and the fact that eToro’s financial information isn’t available publically.
eToro operates under three different authorities and each varies depending on where you live. This also means that the level of protection varies.
UK citizens will be protected by the Financial Conduct Authority (FCA). If eToro were to become insolvent, UK users would be entitled to compensation of up to £85,000, as guaranteed by the Financial Services Compensation Scheme (FSCS).
eToro Australia is regulated by ASIC, the Australian financial authority. However, Australian clients don’t have much protection at all, with no obligatory compensation.
Other eToro customers will be regulated by the Cypriot watchdog, CySEC. These users can be compensated by the maximum amount of €100,000.
One thing to note is that there is no investor protection for cryptos as this market is not regulated. Despite this, eToro is always keen to resolve any issues as quickly as possible.
An important thing to consider when deciding whether eToro is safe or not is to take a look at its history. eToro was established in 2007 which means it has already survived one financial crisis, which is a very good sign.
Despite this, eToro is still considered a start-up and is not listed on any stock exchange. On top of this, it doesn’t make its financial statements available to the public. This means that the broker’s financial performance is largely unknown. However, the fact that it is highly regulated makes it trustworthy to many investors.
eToro has an impressive array of cryptocurrencies to be traded – currently over 70 coins. This wide variety will appeal to many investors, especially compared to platforms like TradeStation Crypto (5 coins) or Robinhood (7 coins).
You can currently trade these cryptocurrencies on eToro, including but not limited to:
Cryptocurrency trading is currently available in 39 US states. At the time of writing, eToro is not licensed for crypto trading in the following states: Delaware, Hawaii, Illinois, Louisiana, Minnesota, Nebraska, Nevada, New Hampshire, New York, North Carolina, and Tennessee.
If you’re also interested in trading stocks, eToro provides access to over 6,000 equities listed across 16 global stock exchanges, including:
For an in-depth look into the sector in general, check out our crypto trading review.
eToro does not charge any deposit fees. However, the minimum deposit starts from $50, depending on your country. eToro also applies a $10 monthly inactivity fee after 12 months without login or trading activity.
Real ETF investing is commission-free on eToro for most supported markets. However, trading ETFs as CFDs may involve spreads and overnight fees. Always check if you’re buying the asset or trading it as a derivative.
Crypto fees are built into the spread, which varies by market conditions. For example, Bitcoin spreads typically start at 1%, while smaller coins like Tezos can have spreads of up to 5%.
eToro is regulated by top-tier authorities, including the Cyprus Securities and Exchange Commission (CySEC), the UK’s Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC).
In the U.S., eToro currently offers only cryptocurrency trading, and this service is available in 39 states. Due to regulatory restrictions, residents of certain states cannot access the platform’s crypto features.
The first step to trading cryptocurrency on eToro is actually setting up your account. Getting started couldn’t be easier as you’ll only need your email and phone number to begin with!
Once you’ve verified your account via email, you’ll be able to log into your eToro account and complete your profile. You will need to confirm your identity and provide further information for eToro to comply with regulations.
All you need to do is click “Complete Profile” under your username and follow the steps.
Now that your profile is completely verified following the eToro review, you’ll be able to deposit funds and begin trading. Depositing funds on eToro is very simple – just click “Deposit Funds” under your profile.
You can then fill in the amount (minimum from $50, depending on your country) and your payment information.
Once the funds have been successfully deposited into your account, you’re ready to buy on eToro! Now what you need to do is go to the “Trade Markets” section in the navigation bar and click “Crypto”.
You will then see a list of all the cryptocurrencies available to purchase on eToro. Let’s take a look at how to buy some Bitcoin:
Once you’ve selected your cryptocurrency, a window will pop up where you can put in the details of the trade.
You can now select the amount that you wish to invest. Under “Stop Loss” you can enter the maximum loss you are willing to have in the trade. This means that if the price falls to your stop loss, the Bitcoin will be automatically sold.
Under “Take Profit”, you can set the price at which your Bitcoin will be automatically sold.
You can also disable both “Stop Loss” and “Take Profit”.
Once you’re happy, you can go ahead and click “Open Trade”.
Positive eToro reviews all state that it’s easy to use, functional, and easily accessible for beginners. Many also report that customer service quickly resolved their issue and they also found the reports extremely helpful.
The more negative reviews tend to state that the fees are high and that buying trades using CopyTrader didn’t work too well for them. Of course, this isn’t necessarily the fault of eToro as they don’t decide what other traders are going to invest in!
eToro is a brilliant tool for those looking to get into cryptocurrency trading. It offers a wide range of coins to invest in and is now available to trade crypto in the US. On top of this, the website is incredibly user-friendly and is accessible for all traders, whether a beginner or an expert. It’s intuitive to use and the helpful reports make it easier than ever to invest.
What really sets eToro apart is the additional features. CopyTrader is a brilliant asset that allows anyone to copy the moves of top traders. This invaluable insight will prove to be a huge selling point for many.
eToro does suffer from some minor drawbacks though. Not only are the fees fairly high but also only USD accounts are allowed. The limitations in the US also don’t make this broker accessible for all. If you are looking to mainly trade in stocks, this might not be the one for you – even though eToro offers access to over 6,000 stocks and more than 700 ETFs.
So, what did you think of our eToro review – will you try it out?
Your capital is at risk.
Click here for more crypto trading broker reviews.
eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFDs.Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at https://etoro.tw/44JRWLY. eToro USA LLC does not offer CFDs and makes no representation, and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity-specific information about eToro.
eToro is undoubtedly the best broker for forex. I have made good money through it. But for the last few months, I have been facing issues with withdrawal. Tried calling customer support many times but didn’t get any satisfactory answer. Distressed with the services, I searched for another Forex broker and found InvestFW. The broker was regulated, I quickly created an account and started trading. After using the platform for over 1 month, here’s my review – The platform is perfect, leverage is good, spreads are lowest and most importantly, the withdrawals are quick. It took only a few hours for withdrawals to credit to my bank account.
InvestFW is the best trading and investment platform I have used so far. My account manager, Laurent Szklarz, seemed like a friendly gentleman and was eager to assist when we spoke.
However, it might be challenging to understand the regulations governing copying and risk attribution. However, with some trial and error, one can obtain what they require.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. 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.
This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.
You've landed on TradersBest global.
We recommend you switch to
TradersBest US.
You've landed on TradersBest global.
This page does not provide recommendations and offers for users based in the United States.
We recommend you switch to
TradersBest US
