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eToro Review: All You Need to Know

Kirk Miller
26 February 2022 |
Updated: 26 February 2022

eToro Overview

Founded in Tel Aviv in 2007, eToro is the world’s leading social trading and investing platform. Since introducing the world’s first-ever social trading platform back in 2010, eToro has been at the forefront of the fintech revolution. eToro’s most recent innovation comes in the form of CopyPortfolios — an AI-powered investing product driven by machine learning. Authorised and regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK, eToro provides a safe and secure place to trade for its global community of more than 12 million registered users.

Details

Address:

Address: 1 Canada Square 24th Floor, Canary Wharf London, E14 5AB

Phone:

Phone: 1-888-271-8365

Email:

Authorised and regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK, eToro provides a safe and secure place to trade for its global community of more than 12 million registered users.

But is eToro the right broker for you? In this eToro broker review, we’ll be taking a look at everything you need to know about this broker, including account types, regulation, trading platforms and more.

Commissions & Fees

Making a deposit or withdrawal is incredibly straightforward with eToro, which offers users plenty of payment methods to choose from. These include:

  • Credit Card/Debit Card (Mastercard and Visa)
  • Bank Transfer
  • PayPal
  • Rapid Transfer
  • e-Wallets (Neteller and Skrill)

Withdrawal times will vary depending on the payment method you opt for, but generally speaking you can expect the following:

Payment provider Timeframe
Credit/Debit card 3-8 working days
PayPal 1-2 business days
China Union Pay 1-2 working days
Neteller 1-2 working days
Skrill Limited UK 1-2 working days
WebMoney 1-2 working days
Bank Transfer/Wire Transfer 3-8 working days

It’s worth noting that eToro charges a flat fee of $5 on all withdrawals with the minimum withdrawal amount set at $30. Since eToro only allows trading in US Dollars, any deposit you make will automatically be converted into USD. This will bring with it an unwanted currency conversion fee that can’t be avoided unless you make a deposit in USD. Conversion fees start from 50 pips and will be subtracted from your final account balance.

Platforms & Tools

While eToro’s bread and butter may be social trading, there is still an extensive Forex offering for traders. eToro offers its users access to a wide variety of currency pairs, including majors, minors, and exotics. In total, there are 47 currency pairs to choose from.

eToro offers users a wide variety of CFDs to choose from that include Indices, Currencies, Commodities, Stocks and ETFs.

eToro offers its users over 2,000 stock CFDs to choose from. Users can choose from a wide range of stocks covering everything from Basic Materials to Utilities, or filter by over 20 exchanges such as the London and New York stock exchanges.

While eToro’s bread and butter may be social trading, there is still an extensive Forex offering for traders. eToro offers its users access to a wide variety of currency pairs, including majors, minors, and exotics. In total, there are 47 currency pairs to choose from.

eToro offers users a wide variety of CFDs to choose from that include Indices, Currencies, Commodities, Stocks and ETFs.

eToro offers its users over 2,000 stock CFDs to choose from. Users can choose from a wide range of stocks covering everything from Basic Materials to Utilities, or filter by over 20 exchanges such as the London and New York stock exchanges.

eToro - What's Hot or Not?

A major positive attribute of eToro is that they are highly transparent about their fees. It is important to note that they charge a withdrawal fee of $5 with the minimum withdrawal being $30.

What we like:

The most successful online trading service so farHuge range of instruments to tradeSimple, transparent fee and commission structures

What we don't:

USD ($) is the only currency eToro allows its users to trade withWithdrawing any amount from your account costs $5Regular mobile alerts can be irritating

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eToro Bottom Line

Since beginning operations in 2007, many organisations have conducted their own reviews and honoured it with multiple awards. Oddly enough, eToro does not readily list these honours on its website. In 2010, it earned a World Finance Award for “Most Innovative Trading Platform.” In 2016, it was one of CNBC’s “10 Fintech Startups Worth Watching.” FINOVATE honoured it with “Best of Show” in 2015 and 2017. In 2019, ADVFN honoured it with “Best Social Trading Platform” and “Best Platform for Trading Cryptocurrencies.”

eToro FAQs

eToro is the world’s leading social trading network offering millions of clients the choice of investing in a range of exchange-traded stocks, cryptocurrencies, and CFDs in commodities, indices, ETFs. The multi-regulated broker is under the stringent guidelines of the FCA, CySEC, and ASIC. All client deposits are in segregated accounts, come under negative balance protection while residents in the UK and Europe also receive compensation if eToro goes into administration. So, yes, it is safe to deposit funds with eToro.
eToro is only a financial markets broker, offering clients the opportunity to invest or trade in 2000+ assets across multiple asset classes. While the broker offers low fees, intuitive trading platforms, ready-made copy portfolios, social trading and a gamut of analytical tools, it is up to you how you use these features to make money. According to the broker, 75% of retail investors lose money when trading CFDs with them.
If you want to sell or short a stock on the eToro platform, you can do so using the stock CFD. To open a sell position, select the stock on the eToro trading platform and switch the toggle from ‘Buy’ to ‘Sell.’ It’s that simple. Equities investors can access over 2,000 stocks from 17 exchanges at zero commissions and a minimum trade size of £50. However, the zero-commissions apply for non-leveraged BUY positions while leveraged, and stock CFDs are exempted.
The withdrawal process at eToro is straightforward. All you do is go to the eToro client area and follow the below-mentioned process – Click on the ‘Withdraw Funds’ tab in the menu. – Enter the amount. – Fill-out the electronic withdrawal form. – Hit ‘Submit.’ The terms include a minimum withdrawal amount of $30 and a fee of $5 for every fund payout.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, 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. 68% 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. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. 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.

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