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eToro

Forex broker
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51% of retail CFD accounts lose money

About

eToro is a social trading and multi-asset brokerage company that was founded in 2007. It is headquartered in Tel Aviv, Israel and has additional offices in Cyprus, the United Kingdom, the United States, and Australia. eToro allows users to trade a variety of assets, including stocks, cryptocurrencies, commodities, and more.

One of the key features of eToro is its social trading platform, which allows users to follow and copy the trades of other successful traders on the platform. This is known as "copy trading," and it can be a useful tool for beginners who are just getting started in trading.

In addition to its social trading platform, eToro offers a range of educational resources, including webinars and trading courses, to help users improve their trading skills. The platform is also known for its user-friendly interface, which makes it easy for beginners to get started.

Regulation and Security

Regulation eToro is regulated by multiple financial regulatory bodies in different jurisdictions, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. These regulatory bodies are responsible for overseeing eToro's operations, ensuring that the company adheres to the rules and regulations set out by each body, and protecting the interests of investors.

Security eToro also implements a range of security measures to protect users' funds and personal information. For example, the platform uses two-factor authentication to prevent unauthorized access to users' accounts, and it stores users' funds in segregated accounts to ensure that they are separate from the company's own funds. Additionally, eToro uses SSL encryption to protect users' personal information when it is transmitted over the internet.

Fees

eToro charges various fees for different services on its platform. Check out some of the most common fees listed below:

Spreads A spread fee is charged for each trade you make. The spread is the difference between the buy and sell prices of a particular asset, and it represents eToro's commission for facilitating the trade. The exact spread you pay will depend on the asset you are trading and market conditions.

Overnight fees If you keep a position open overnight, eToro charges an overnight fee, also known as a rollover fee. This fee is designed to reflect the cost of keeping your position open for an extended period, and it varies depending on the asset you are trading.

Withdrawal fees eToro charges a withdrawal fee of $5 for each withdrawal you make. This fee helps to cover the cost of processing your withdrawal request.

Inactivity fees If you don't use your eToro account for 12 months, the platform will charge an inactivity fee of $10 per month until you start using your account again.

eToro's fee structure can be complex and may vary depending on your location and the specific asset you are trading. Make sure to review eToro's fee schedule carefully before using the platform to understand the costs involved in trading on the platform.

Tradable Assets

eToro offers a wide range of tradable assets across multiple categories. Here are some of the most common asset categories you can trade on eToro:

Forex eToro offers a wide range of currency pairs, including major currency pairs like EUR/USD and GBP/USD, as well as exotic currency pairs like USD/ZAR and USD/TRY. To trade currencies on eToro, you can use the platform's web-based or mobile trading interface to open and close positions. You can use a variety of order types, such as market orders and limit orders, to enter and exit trades at your desired price.

Stocks Clients are able to trade stocks from major global markets, including the US, UK, Europe, and Asia. Some of the popular stocks available on eToro include Apple, Amazon, Google, Microsoft, Tesla, and many more.

Cryptocurrencies There is a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, Ripple, and many others. You can trade these cryptocurrencies against fiat currencies such as USD, EUR, or GBP.

Commodities eToro allows you to trade a range of commodities, including gold, silver, oil, and natural gas. These commodities are traded as CFDs (Contracts for Difference), which means you do not own the underlying asset but instead speculate on its price movements.

ETFs Traders are offered a selection of exchange-traded funds (ETFs) that track different markets and sectors. These ETFs can provide exposure to a diversified range of assets with a single investment.

Indices eToro offers trading on major stock market indices, including the S&P 500, NASDAQ, FTSE 100, and DAX. Trading indices can provide exposure to a broad range of stocks and can be a useful way to diversify your portfolio.

Specific assets available on eToro may vary depending on your location and regulatory restrictions. Before trading on eToro, make sure to review the platform's asset selection to ensure it meets your investment needs.

Trading Platforms

As it was mentioned before, eToro is a social trading and multi-asset brokerage company that provides a variety of trading platforms for its users. Here are the different trading platforms offered by eToro:

eToro WebTrader This is eToro's main platform, which is accessible through any web browser. It provides a user-friendly interface with a range of features, including live market news and analysis, social trading, and the ability to trade multiple asset classes such as stocks, currencies, and cryptocurrencies.

eToro Mobile App eToro also has a mobile trading app that is available on both Android and iOS devices. It provides users with all the essential features available on the web platform, including real-time market data, social trading, and the ability to buy and sell assets on the go.

eToroX eToroX is a cryptocurrency exchange platform that enables users to trade a range of cryptocurrencies and stablecoins. It provides advanced features such as customizable trading interfaces, real-time market data, and multiple order types.

eToro Trading Academy eToro also offers an education platform called the eToro Trading Academy. It provides users with a range of educational materials, including eCourses, videos, and webinars, to help them improve their trading skills.

Account Types

There are several accounts offered to the different types of traders. Here are the account types available on eToro:

Retail Account This is the standard account type on eToro, available to most traders. Retail accounts come with access to all of eToro's trading features, including access to the eToro trading platform and various assets.

Professional Account Experienced traders who meet specific criteria can apply for a professional account. Professional accounts offer higher leverage, lower margin requirements, and other benefits. However, professional accounts also come with higher risks, as they remove some of the regulatory protections that apply to retail accounts.

Islamic Account eToro also offers an Islamic account, which is designed to comply with Sharia law. Islamic accounts do not charge or pay overnight fees, and they do not offer leverage, as interest-bearing transactions are prohibited in Islamic finance.

Corporate Account Companies and other legal entities can apply for a corporate account on eToro. Corporate accounts offer access to eToro's trading platform and various assets, as well as specialized support and reporting tools.

eToro's account types may be subject to different regulatory requirements and fees, and the availability of certain account types may vary depending on your location. Before opening an account with eToro, make sure to review the account types and associated terms and conditions to ensure that they are suitable for your needs.

Educational Tools

eToro offers a range of educational resources to help traders improve their knowledge and skills. Here are some of the educational tools available on eToro:

Trading Academy eToro's Trading Academy is an online education center that offers a range of courses and resources to help traders improve their skills and knowledge. The Trading Academy includes video tutorials, webinars, e-books, and other educational materials that cover various topics, such as trading strategies, risk management, technical analysis, and more.

Market News and Analysis eToro's platform provides access to the latest market news and analysis, which can help traders stay informed about market developments and identify trading opportunities. The platform includes a news feed and a blog that covers various markets and asset classes.

Virtual Portfolio eToro's virtual portfolio feature allows traders to practice trading without risking real money. This feature can be a useful way for beginners to learn about trading and test their trading strategies in a risk-free environment.

Copy Trading eToro's copy trading feature allows traders to follow and copy the trades of other traders on the platform. This feature can be a useful way for less experienced traders to learn from more experienced traders and gain exposure to different markets and asset classes.

Investor Education Hub eToro's Investor Education Hub provides a range of resources and tools to help traders and investors learn about various aspects of investing, such as risk management, diversification, and long-term investing.

eToro's educational tools may vary depending on your location and regulatory restrictions. Before using eToro's educational resources, make sure to review the platform's terms and conditions and ensure that the resources are suitable for your needs.

Customer Support

eToro provides customer support through various channels to assist traders with their inquiries and concerns. Here are the customer support channels available on eToro:

Help Center eToro's Help Center is a comprehensive online resource that provides answers to frequently asked questions and troubleshooting guides. The Help Center covers various topics related to eToro's platform, including account registration, trading, payments, and security.

Live Chat eToro offers live chat support, which allows traders to get real-time assistance from a customer support representative. The live chat feature is available 24/5 and can be accessed through the platform's Help Center or by clicking the "Chat Now" button on the eToro website.

Email Support Traders can also contact eToro's customer support team via email. The email address can be found on the platform's Help Center or on the eToro website.

Phone Support eToro offers phone support to traders in some regions. The phone numbers can be found on the platform's Help Center or on the eToro website.

Social Media eToro has a social media presence on various platforms, including Facebook, Twitter, Instagram, and LinkedIn. Traders can reach out to eToro's customer support team through these channels as well.

Customer support availability and response times may vary depending on your location and the type of inquiry. Before contacting eToro's customer support, it's a good idea to check the Help Center and see if your question has already been answered.

Bonus and Promo

eToro occasionally offers bonuses and promotions to traders. However, these bonuses and promotions may vary depending on your location and the regulatory restrictions in your region. Here are some examples of bonuses and promotions that eToro has offered in the past:

Deposit Bonus eToro has offered deposit bonuses in the past, which give traders a bonus amount of funds when they deposit a certain amount into their trading account. These bonuses may be subject to specific terms and conditions, such as minimum deposit requirements and trading volume requirements.

Refer-a-Friend Bonus eToro has a refer-a-friend program that rewards traders who refer new users to the platform. The referral bonus may vary depending on your location and may be subject to certain conditions, such as a minimum deposit requirement.

CopyTrading Promotion eToro has offered promotions in the past that reward traders for using the CopyTrading feature. These promotions may offer cashback or other incentives for traders who follow and copy successful traders on the platform.

Bonuses and promotions come with terms and conditions that traders should carefully review before participating. These terms may include trading volume requirements, time limits, and other conditions that may affect the availability and usability of the bonus or promotion. It's a good idea to read the fine print before participating in any eToro bonus or promotion.

Account Opening

Opening an account on eToro is a simple and straightforward process. Here are the steps to follow to open an account on eToro:

1 - Go to the eToro website Visit the eToro website (www.etoro.com) and click on the "Sign up" button.

2 - Provide personal information Enter your personal information, including your name, email address, and phone number. You will also need to choose a username and password for your account.

3 - Complete the questionnaire eToro requires all traders to complete a short questionnaire to assess their trading experience and knowledge. This helps eToro determine the appropriate level of support and guidance for each trader.

4 - Verify your identity eToro requires all traders to verify their identity by providing a copy of their government-issued ID and a proof of address, such as a utility bill or bank statement. This is to comply with regulatory requirements and ensure the security of traders' accounts.

5 - Fund your account Once your account is verified, you can fund your account using a variety of payment methods, including credit/debit cards, bank transfers, and e-wallets.

6 - Start trading With your account funded, you can start trading on the eToro platform. eToro offers a range of assets, including stocks, cryptocurrencies, commodities, and more.

eToro may have different account opening requirements and procedures depending on your location and regulatory requirements. Before opening an account on eToro, it's a good idea to review the platform's terms and conditions and ensure that it's suitable for your needs.

Deposit and Withdrawal

eToro offers a variety of deposit and withdrawal options for traders to choose from, depending on their location and regulatory restrictions. Here are some of the most common deposit and withdrawal options available on eToro:

Deposit options

  • Credit/debit cards: eToro accepts deposits made with major credit and debit cards, such as Visa, Mastercard, and Maestro.
  • Bank transfers: Traders can also fund their eToro accounts via bank transfer. This option may take longer to process than other deposit methods.
  • E-wallets: eToro accepts deposits made with popular e-wallets, such as PayPal, Neteller, and Skrill.

Withdrawal options

  • Credit/debit cards: eToro allows traders to withdraw funds to their credit or debit card. This option may not be available in all countries.
  • Bank transfers: Traders can withdraw funds from their eToro account to their bank account. This option may take longer to process than other withdrawal methods.
  • E-wallets: eToro allows traders to withdraw funds to their e-wallet account. This option may not be available in all countries.

eToro may have different deposit and withdrawal options depending on your location and regulatory restrictions. Before making a deposit or withdrawal, it's a good idea to check the platform's terms and conditions and ensure that the option you choose is suitable for your needs. Additionally, eToro may have specific fees and processing times for each deposit and withdrawal method, so it's important to review this information before making a transaction.

Spreads

eToro offers competitive spreads on a wide range of assets, including forex, stocks, commodities, cryptocurrencies, and more. The spreads on eToro vary depending on the asset being traded and market conditions, and they can be either fixed or variable.

For example, the minimum spread for major forex pairs like EUR/USD, GBP/USD, and USD/JPY is typically 1 pip, while the minimum spread for minor forex pairs like AUD/CAD, EUR/GBP, and GBP/JPY is typically 2 pips. Spreads for commodities like gold and silver are also competitive, with spreads typically starting from 0.45 pips.

It's important to note that eToro's spreads may vary depending on the trading platform being used. The spreads on the eToro web platform may differ from those on the mobile app or the eToro Pro platform. Additionally, eToro may charge additional fees, such as overnight fees or withdrawal fees, depending on the asset being traded and the account type.

Before trading on eToro, it's a good idea to review the platform's spreads and fees, as well as any other terms and conditions that may affect your trading experience.

Leverage

eToro offers leverage on a range of assets, including forex, stocks, indices, commodities, and cryptocurrencies. The amount of leverage available varies depending on the asset being traded and the account type.

For example, the maximum leverage for major forex pairs like EUR/USD, GBP/USD, and USD/JPY is typically 30:1 for retail clients and 400:1 for professional clients. The maximum leverage for stocks is typically 5:1 for retail clients and 20:1 for professional clients. The maximum leverage for cryptocurrencies is typically 2:1 for retail clients and 100:1 for professional clients.

Leverage can amplify both profits and losses, and traders should be aware of the risks involved when trading with leverage. Additionally, eToro may have different leverage limits depending on your location and regulatory restrictions.

Before trading on eToro, it's a good idea to review the platform's leverage limits and ensure that they are suitable for your needs.

Advantages

Social Trading eToro pioneered the concept of social trading, which allows traders to follow and copy the trades of other traders on the platform. This feature enables less experienced traders to learn from more experienced traders and can help traders build diverse portfolios.

CopyPortfolios eToro offers a range of pre-packaged investment portfolios called CopyPortfolios. These portfolios are designed to provide exposure to a specific market, theme, or asset class and are managed by eToro's investment committee. CopyPortfolios can be an easy and convenient way to invest in a diversified range of assets with a single investment.

Zero Commission Trading eToro offers zero-commission trading on stocks, which means that traders can buy and sell stocks without paying any commission fees. This feature can make it more affordable for traders to invest in individual stocks.

Advanced Trading Tools eToro's trading platform offers a range of advanced tools and features, such as technical analysis tools, customizable charts, and risk management tools. These features can help traders make more informed trading decisions and manage their risk more effectively.

Crypto Wallet eToro offers a cryptocurrency wallet that allows traders to store and manage their cryptocurrencies securely. The wallet supports several cryptocurrencies and offers features such as two-factor authentication and multi-signature security.

Broker’s unique features may vary depending on your location and regulatory restrictions. Before using eToro, make sure to review the platform's features and associated terms and conditions to ensure that they are suitable for your needs.

Disadvantages

Research and Analysis eToro does not provide extensive research and analysis tools compared to other trading platforms, which may be a disadvantage for traders who rely heavily on these resources.

Order Types eToro only offers market orders and limit orders, which may limit the trading strategies that traders can employ.

High Spreads eToro has relatively high spreads compared to other trading platforms, which can increase the cost of trading.

Limited Withdrawal Options eToro offers limited withdrawal options, and the withdrawal process can be slow and cumbersome.

Limited Availability eToro is not available in all countries, which may limit its accessibility to some traders.

Summary

$200
Minimum Deposit
30:1
Maximum Leverage
FCA / CySEC / ASIC
License
Visa / Mastercard / Bank transfer / PayPal / Neteller / Skrill
Deposit / Withdrawal Options
eToro WebTrader / eToro Mobile App / eToroX /
Trading Platform
Retail / Professional / Islamic / Corporate
Accounts
From 0.7 pips
Spreads
Forex / Stocks / Cryptocurrencies / Commodities / ETFs / Indices
Tradable Assets
eToroX, a DLT (distributed ledger technology)
Liquidity Provider
Yes
Affiliate Program
Yes
Mobile Trading
Live chat 24/5
Client Support
Please note that trading carries risks, and traders should always conduct their own research and risk assessment before opening an account with any broker.

Contact Information

www.etoro.com

support@etoro.com

00357 25 030573

Myronos Street 3, 3035, Limassol, Cyprus