eToro UK (operates as eToro UK Ltd). This eToro review UK will provide you with everything you need to know about eToro in the UK and the features specific to eToro users within the UK. We will also test the broker’s reliability and why it’s so popular with traders of all levels of experience.
We will cover eToro overall services but specifically within the UK and outline for you the key advantages and disadvantages of trading with eToro in the UK.
The brokers main draw card is its unique blend of CopyTrading and Social Trading which has seen it attract traders and corner the market both within the UK and abroad.
Our review will show how the eToro Rating and eToro Ranking compares with other brokers in the market.
For more information check out our review of eToro demo account to start trading.
By the end of this eToro review UK, you will know how to get started with E-Toro and have a good understanding of how the broker works so that you can decide for yourself if the broker is for you.
But most importantly you will know whether is eToro scam broker or eToro a broker safe to trade with.
| | |  |  |  | |
|---|---|---|---|---|---|---|
| Safety | very high | high | high | high | high | very high |
| 5 Stars | | 50.0% |
| 4 Stars | | 50.0% |
| 3 Stars | | 0.0% |
| 2 Stars | | 0.0% |
| 1 Star | | 0.0% |
One of the most important parts of our review of eToro – the overall usability of the trading platform. If it’s clunky or overly complicated, then we certainly won’t beat around the bush about getting that opinion out there. Fortunately, the eToro website is a secure site that is subject to industry-leading security protocol and strict data privacy rules. For information about broker security read our review to find out about the IG Index safe article. The site provides traders with comfortable trading conditions which have gained eToro Ranking in first place for Best in Class in the Ease-of-Use and Beginners, categories in 2021.
The website is designed so that traders will experience an easy to use and functional interface. The eToroX mobile app has the same design and functionality as the website with the capability to sync your trading activity to your account.
The eToro website contains a large collection of learning resources that are useful for all traders, from beginner help articles to complex advanced trading topics. eToro provides regular webinars and has its very own Learning Academy which is available for all members upon joining.
Trade download speeds are fast to avoid trading delays in order execution and enable trading from watchlists. Adding instruments by searching available markets, as well as placing a trade is a seamless and easy process.
The platform is available in multiple languages including English Arabic, Chinese, French, German, Greek, Italian, Polish, Russian, and Spanish.
eToro offers a range of trading instruments that are easily located on their website in their Trade Markets Menu. This is where you will find all of eToro’s various instruments available to trade.
If you know which instrument you wish to trade, you can easily navigate directly to your desired instrument alternatively, if you are unsure or you want to copy a successful trade, this is where you can use the copy trade feature which is extremely convenient way to trade.
The trading instruments available with eToro UK include:
eToro UK does not charge a commission which means that traders receive 100% of their income earned from their trading which is guaranteed.
eToro charges fees on selected transactions only such as CFD and Forex Trading fees.
A conversion fee may apply on deposits depending on which currency is used. USD is used by eToro across all countries. The rates will vary according to the currency and the method of payment but range between 50 pips to 250 pips per conversion.
There is a flat fee for all withdrawals and a minimum withdrawal amount. You can check out the full details on their website.
For comparison fees and charges read our review of Spreadex, as well as our review of Forex.com and City Index review UK
eToro UK provides Traders with several options for payments and withdrawals that include bank transfer, Visa, MasterCard, Diners Club International, PayPal, Skrill, Neteller, WebMoney, China UnionPay and Yandex.
eToro UK customers are charged a conversion fee on any foreign currency transactions from USD. Most withdrawals to your account can take around 1-2 business days but may take up to 7 business days for credit and debit cards.
eToro handles all refunds as per the industry standard to avoid money laundering which means that any refund is automatically sent via the same channel as the deposit. For example, if the money funds were deposited via bank transfer, the refund will be deposited into your bank account.
eToro’s customer service is entirely online which can be accessed via the website via a ticketing system that handles all customer support queries. In addition, eToro UK provides a live chat service for customers to contact a chat agent and there is email support available.
Most traders make use of the self-help section of the website which is part of the learning resources available. This is where traders can not only find learning materials, webinars, the Training Academy as well as a self-help section.
eToro has a Customer Service Wall for use while you are waiting for your ticket response as well as FAQs and help tools that are useful. For further information on broker service read our “is BDSwiss Good?” article.
Next up in our review of eToro, we’ll take a look at what existing customers think of the platform. eToro UK is known to be a reputable broker amongst its peers as well as customers. Its licenses and regulations show that they are honest and reliable.
Customer feedback is overall positive, with the general feeling of excitement being experienced by the traders. The feedback on the popular user review sites is positive as well as the feedback from the user reviews on the eToro site.
The only negative feedback from traders is the higher fees. But with the 0% commission and the popularity and success of the Copy Trader concept, especially amongst the generation of social media users, the benefits outweigh any negative views. It is also popular for its ease of use and available apps.
eToro UK operations are regulated by the Financial Conduct Authority (FCA). This FCA license allows eToro UK the ability to operate its services in the European Union (EU).
eToro UK is also regulated by the Cyprus Securities and Exchange Commission (CySEC), FinCen in the United States and ASIC in Australia. These regulations provide a safe trading environment for traders.
It has strong investor and financial growth backing which comes with its own set of rules around security and operations. eToro operates in 140 countries and is regulated by strict guidelines of each country in which it operates.
eToro was founded in 2007 and in 2010 launched its pivotal Social Investment and CopyTrading features which have seen it become one of the most popular trading platforms today. eToro went on to raise $31.5 million in funding and by December 2014 raised an additional $27 million backing from Russian and Chinese investors.
In December 2017, eToro and Coin Dash formed a partnership. This partnership developed Blockchain-based social trading. eToro has continued its rapid growth over the years with strong financial backing, a reliable reputation amongst its customers and is the pioneer share trading website that has millions of registered users.
Trading on eToro is simple and it is fast. Setting up your account is completed entirely online and once your ID is verified, normally between 1-2 days, you can then access your account so that you can get ready to start.
To start, select the Join Now button on the eToro site and follow the instructions. You will be prompted to complete your profile and once your profile is completed all you need to do is make your initial deposit to start trading! Deposits can be made include bank transfer, Visa, MasterCard, Diners Club International, PayPal, Skrill, Neteller, WebMoney, China UnionPay and Yandex.
eToro lists a typical variable spread of 1 pip on the EUR/USD with the choice of adding leverage when you trade stocks. You will find more information on the website as part of the learning resources that are available to all traders.
There is the option to set up a Demo account to try out all of the eToro features without the risk. The following types of accounts and programs are available:
VIP accounts: eToro offers this account for traders with balances between $5k -$250k. The benefits vary but may include discounts, private signals exclusive assets, etc.
Popular Investor program: eToro’s Popular Investor program has various benefits for eligible members. Benefits from this program can range from spread rebates, rewards, and other offers. Popular Investor is for traders who allow other investors to copy their strategy.
Cryptocurrency trading: trading crypto costs are standard but the conversion fee is high. If you are converting from crypto-to-crypto eToro will only charge a fee of 0.1%. With the number of crypto assets and CFDs eToro rated the best broker for Crypto Trading in 2021.
Exchange-Traded Securities: CFD shares eToro also offers zero-dollar commission for US stock trading.
As you well know by now, trading on the eToro platform is user-friendly. If you are a newcomer to online trading, then eToro will provide you with a great platform to trade stocks. You’ll be able to trade stocks from 9 different industries. The industries included are basic materials, conglomerates, consumer goods, financial, healthcare, industrial goods, services, technology, and utilities. For most industries, there are several hundred different stock options.
You won’t find much in the way of stock trading fees on the eToro platform. This online broker does not charge a commission rate for stock trading. Plus, you won’t incur a fee for opening your account. There are 0% management fees, too. Keep in mind you will need to pay an equivalent of $5 for withdrawals. Bear in mind that each transaction has a market spread. The spread will be reflected in the valuation of your position upon opening. Spreads are calculated by the market and not eToro. Spreads vary and we can’t put a single value on it. Be aware of market spreads when opening positions.
When it comes to accessible stock exchanges, you’ll have a great deal to choose from. eToro enables you to trade stocks from 17 different exchanges. In terms of variety, this online broker has hit the nail on the head. You can trade stocks from exchanges such as the London Stock Exchange, Helsinki Stock Exchange, Hong Kong Stock Exchange, Zurich Stock Exchange, NASDAQ, New York Stock Exchange, Amsterdam Stock Exchange, Brussels Stock Exchange, Madrid Stock Exchange, and more.
eToro is a fantastic platform from which to start your online trading venture. If you wish to trade stocks, then eToro is a well-suited platform to use. You won’t incur commission fees for trading stocks while you can access hundreds of different stocks from exchanges all over the world. With a user-friendly app and wide range of industries to choose from, trading stocks has never been easier.
Cryptocurrency “Crypto” is one of the most popular currencies to trade online and eToro has earned its reputation as a global leader in crypto trading. Crypto is a digital currency and is traded in the way as any other currency is traded online.
The great thing about crypto is that there is no specific ownership principle which means its value can’t be influenced by any central authority, like a country’s government for example.
eToro offers safe and secure crypto trades with transactions that are lightning-fast.
The typical spread when buying Bitcoin on eToro is 0.75%, so your overall fee will depend on how much you’ll be investing. eToro also charges a conversion fee of 0.1% for crypto-to-crypto-transactions. For an alternative, check out our Zeply Review.
Other than the spread fee, there are very few conditions for UK-based traders who are looking to buy cryptocurrency on eToro. Unlike traditional stocks, cryptocurrency trading is available on the platform 24/7. The minimum trade size for all cryptocurrencies is only $25, making it a beginner-friendly platform for casual investors. Is BDSwiss Safe? Find out with us here.
eToro crypto trading is so easy to use – it’s suitable for traders regardless of experience which has seen a growing number of non-traditional, mainstream traders who are joining because of its popularity. eToro UK offers a range of cryptocurrencies that you can trade such as Bitcoin, Bitcoin Cash, Ripple and Ethereum.
eToro has its own secure trading platform, digital wallet and exchange that provides its customers with a safe environment to trade. All in all, a great place to start your crypto trading adventure.
On eToro, our clients’ funds are kept secure in top-tier banks and all of their personal information is guarded under SSL encryption. For more information on safe trading, take a look at our latest broker review of eToro at Tradersbest.com
eToro is a fantastic and totally reputable site, which 10 million other traders will testify to. Copy-trading obviously doesn’t come without its risks, but no kind of trading does. Copy-trading on eToro is definitely one of your best options. It’s a pretty remarkable platform. To find out how to start trading with eToro, take a look at our trading guides and review of eToro at Tradersbest.com
eToro does charge commission to traders. If you buy stocks on eToro, there is no commission. If you want to short sell or use leverage, there is a charge, but for most new investors, the platform does offer a commission-free trading experience. For more information, take a look at our review of eToro at Tradersbest.com
eToro has been widely recognised for its innovative approach to trading as well as its success with the social trading feature. This is a widely popular feature that is not available with other brokers sites. Traders are connected to each other within a social trading community where you can find mentorship and learning opportunities.
Add to this the successful CopyTrader feature and you have a great trading experience that is accessible to traders of all experience levels. The seasoned traders are making trades and leading by example. The beginner traders are getting practical experience from traders with whom they feel connected. Before you go, we also recommend that you check out our review of FP markets for more information around this particular topic.
Our overall review of eToro found that it is unique and is recommended for traders of all experience levels. eToro’s exceptional service offers a safe platform and a very popular way to trade and learn to trade with success.
I love to be able to trade and share with others. Since I’m not a very experienced trader, copying the portfolios of more experienced traders has helped me a lot.
Having tried a few different brokers over the years, I tend to come back to etoro. Just easy access to a bunch of markets and good spreads for forex trading.
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.
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