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Risk Warning: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

4.1
/ 5

eToro review

Updated on Jun 28, 2024
|
10 mins read
Start trading
Risk Warning

Overview

Established in 2007, eToro has consistently provided an easy-to-use platform for traders, earning a reputation as a reliable and trustworthy service. Three entrepreneurs founded the company in Israel;...
See full overview for eToro
Countries
+17
Devices
Max insured
Yes
Our Verdict
4.1
/ 5
Commissions & Fees
4
/ 5
Deposit & Withdrawal
4.3
/ 5
Customer Support
3.9
/ 5
Account Opening
4.4
/ 5
Regulation & Safety
4.1
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • eToro has a simple and intuitive interface that makes it easy for new traders to start trading.

  • The availability of Social trading features allows users to imitate the trades of other successful traders on the platform.

  • eToro offers a wide range of assets for trading, including cryptocurrencies, stocks, commodities, and more.

  • Also, its mobile trading app allows users to manage their portfolios and trade on the go.

Cons

  • eToro’s fees can be higher than other trading platforms, particularly for certain asset classes.

  • eToro does not support the popular MetaTrader platform, which some traders may find inconvenient.

  • The platform’s customer support can be slow to respond and may not always be able to resolve issues quickly.

  • Although eToro is available in the US, some trading restrictions on its services may limit access for some traders.

General details

Type of accounts
Unlimited Demo Accounts
Standard Accounts
VIP accounts
Execution Model
NDD
STP
Deposit currency
USD
EUR
JPY
GBP
AUD
CAD
CNY
RUB
Regulatory complience
ASIC
CySEC
CNMV
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Arabic
Spanish
Italian
Chinese
German
Russian
Autotrading
CopyTrader™
Contact details
[email protected] 1-888-271-8365

Customer reviews

Overall
score
3.8
/ 5
137 reviews

Read real reviews from traders all over the world:

R
Robert Hayes
28 August 2023
Advantages:
Disadvantages:
It is a common misconception that stolen Bitcoins can not be recovered. This is totally false as I have personally just recovered my bitcoins with the help of Mattdunham928 at g male .com
D
Damian Spencer
31 July 2023
Advantages:
Disadvantages:
Technology, like crypto, can have both positive and negative impacts on society. While crypto is known for making payments more convenient and efficient, it is important to acknowledge that people do lose significant amounts of money to crypto scams, such as Bitcoin Investment/mining . The question then arises: How do you respond after falling victim to crypto scammers? Do you simply accept the loss of your hard-earned funds, or do you fight back?I myself have experienced the unfortunate reality of being a victim of crypto scams. In January, I lost over $500,000 to a Bitcoin mining scheme. Despite not having any personal details about the individuals responsible, I refused to give up hope. I decided to undertake research to explore any potential solutions. After a month of dedicated effort, I discovered a group of skilled hackers specializing in crypto recovery. I reached out to them on a Tuesday evening, providing them with the necessary information and details. They assured me they would respond promptly, and to my surprise, just 48 hours later, they informed me that my funds were ready to be returned to any wallet of my choice. I felt a sense of pride and accomplishment for not giving up on the situation from the very beginning. If you find yourself in a similar situation, I encourage you to seek help from this team of hackers. Regain the peace of mind and financial stability you deserve. You can contact them via email at V I R T U A L H A C K N E T @ G M A I L . C O M or reach them on Telegram with the ID @Virtualhacknet.
See all 137 customers reviews
Accounts

Type of Trading Accounts on ETORO

eToro offers two different trading accounts designed to meet the specific needs of their clients: retail and professional trading accounts. Both accounts provide a range of benefits to meet the varying needs of traders. 

  • Retail Account: This is perfect for both novice and experienced traders. With this Account, clients have access to a wide variety of trading assets, including shares, stocks, cryptocurrencies, indices, and commodities. Clients are also provided with negative balance protection, ensuring they will never lose more than their account balance. This Account also offers the option to manually trade or copy other successful traders.
  • Professional Account: This is designed for experienced traders willing to take on larger risks. To qualify for this Account, clients must meet certain criteria and apply for it on the eToro online platform. The professional Account offers several benefits, including the ability to use high-leverage trading with no restrictions and negative balance protection. Professional account holders can also withdraw funds from their accounts without incurring any charges.
Standart - eToro
Availability of a VIP account
Hedging
Trailing stop
Mailing the documents
Trading Platforms
ETORO TRADER
Deposit currency
USD
EUR
JPY
GBP
AUD
CAD
CNY
RUB
Trading instruments
1:30
1:30
1:30
Stop Out
20 %
Execution type
market
Spread type
Floating
Decimal places
4
Margin Call
20 %
Commission
Not
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Standart - eToro
Availability of a VIP account
Hedging
Trailing stop
Mailing the documents
Trading Platforms
ETORO TRADER
Deposit currency
USD
EUR
JPY
GBP
AUD
CAD
CNY
RUB
Trading instruments
1:30
1:30
1:30
Cryptocurrencies
Stop Out
20%
Execution type
market
Spread type
Floating
Decimal places
4
Margin Call
20%
Locked Margin Level
20%
Commission
No
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents
Tradable instruments

Tradable instruments on eToro trading platforms include:

Stocks
N/A
ETF
N/A
Cryptocurrencies
N/A
Indices
N/A
Currencies
N/A
Commodities
N/A
Frequently asked questions

Find the right answer to your question below.

Is ETORO Safe?

Most cryptocurrencies are stored in cold storage, which means they are not connected to the internet. However, some are kept in hot wallets for liquidity purposes. eToro takes several measures to ensure the safety of cryptocurrency assets stored on its platform.

In addition, eToro also has user-level protections, such as 2FA and account encryption. Several authorities, including FINRA, FinCEN, and FCA, regulate the platform. eToro also provides an external crypto wallet called eToro Money for users who want to move their cryptocurrency off the platform.

How do I open an ETORO trading account?

Opening an eToro trading account is a straightforward process. Here’s a step-by-step guide on how to open an eToro trading account:

  • Visit the eToro website at www.etoro.com and click on the “Sign up” button in the page’s top right-hand corner.
  • You will then be asked to fill in your details, such as your name, email address, and password. You can also sign up using your Facebook or Google Account.
  • Next, you must verify your email address by clicking the verification link sent to your email inbox.
  • Once your email is verified, you will be prompted to complete your profile by filling in additional personal information such as your date of birth, address, and phone number.
  • You must also complete a short questionnaire about your trading experience and goals. This helps eToro customize the platform to fit your needs and level of expertise.
  • Finally, you must verify your identity by uploading a copy of your government-issued ID, such as a passport or driver’s license. This is a necessary step to comply with anti-money laundering regulations.
  • Once your Account is approved and verified, you can deposit funds and start trading on the platform.

It’s important to note that eToro may require additional information or documentation depending on your country of residence and other factors.

Is eToro good for Beginners?

eToro is a great platform for beginners in investing and trading. eToro’s user-friendly interface makes it easy to navigate, and its social trading features allow new investors to follow and learn from more experienced traders. The platform’s minimum deposit is also low, making it accessible for those just starting. 

Additionally, eToro offers a demo account, which allows users to practice trading with virtual money before risking real funds. Overall, eToro is a great choice for beginners looking to dip their toes into investing and trading.

eToro compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
eToro
  • Specialized trading accounts
Start trading
Risk Warning
  • 4.1
    / 5
  • 4.3
    / 5
  • N/A
  • N/A
  • 4
    / 5
  • N/A
  • N/A
  • 4.1
    / 5
  • CNMV, ASIC, CYSEC
  • Yes
  • See review
EXNESS
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Free VPS hosting
  • 4.9
    / 5
  • 4.9
    / 5
  • $10
  • 1:2000
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    / 5
  • $0
  • $0
  • 4.6
    / 5
  • FCA, CYSEC
  • No
  • See review
OANDA Corporation
  • Exceptional Execution
  • US Clients
  • Scalping
  • 3.9
    / 5
  • 4
    / 5
  • N/A
  • 1:50
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    / 5
  • N/A
  • N/A
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    / 5
  • CFTC, NFA
  • Yes
  • See review
ROBOMARKETS
  • Specialized trading accounts
  • 4.8
    / 5
  • 4.6
    / 5
  • $100
  • 1:2000
  • 4.9
    / 5
  • N/A
  • N/A
  • 4.9
    / 5
  • N/A
  • No
  • See review
Forex.com
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • 4.2
    / 5
  • 4.5
    / 5
  • 100$
  • 1:50
  • 4
    / 5
  • N/A
  • N/A
  • 4.5
    / 5
  • FCA, CFTC, NFA, CIRO, CIMA, CYSEC
  • Yes
  • See review
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