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Overall Score
4.1 /5

Pros

  • Great Social Trading
  • Top Tier Regulations
  • Great Education Tools
  • Negative Balance Protection

Cons

  • Withdrawal Fee
  • Low Leverage for Retail Accounts
  • Inactivity Fee
Visit eToro
  • Main Regulators: FCA, ASIC, CySEC, FSA
  • Crypto: Yes
  • Minimum Deposit: $50
  • Average Trading Cost EUR/USD: 1.0 pips
  • Withdrawal Fee: $5
  • Account Opening: 1 Day
Year Established
2007
Headquarters
Israel
Traded Assets
5,000+
Options
Crypto
Trading Fees
Average
Trading Platforms
Prop Platform
Islamic Account
Demo Account
Funding Methods
Bank wire, credit cards, e-wallets, crypto
Tiers 1 Regulators
Tiers 2 Regulators
Negative Balance Protection

Products

Overall Score
4.1 /5
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Pros

  • Copy Trading available
  • Crypto available
  • Large Choice of assets

Cons

  • Low Leverage
  • Average Trading Fees

Asset Selection and Leverage

eToro provides Forex traders with a good selection of 55+ currency pairs, and it stands out with its extensive offering of 100+ cryptocurrency pairs.
The platform also features commodity CFDs, index CFDs, circa 5,000 equity CFDs, and 600+ ETFs.
This broad range of assets makes eToro an excellent choice, particularly for traders interested in cryptocurrencies, ETFs and equity CFDs.

 
Availability
Forex
Crypto
Stocks
Equity Indices
Precious Metals
Other Commodities
Bonds
ETFs
Real Stocks
Real Bonds
Options
Thematic Indices
Synthetics


eToro provides retail traders with a maximum leverage of 30:1 on Forex across all its entities, in line with regulatory standards, except in Seychelles, where higher leverage is permitted.
However, eToro appears to restrict the opening of Seychelles accounts to residents of specific geographical areas.
It's important to remember that trading with leverage is risky; while it can increase potential profits, it also amplifies potential losses.

 

Average Trading Spreads (for Standard Accounts)

EUR/USD
1.0 pips
GBP/USD
2.2 pips
USD/JPY
1.0 pips
Gold
$0.45
Bitcoin
$57
S&P 500 Index
0.8
WTI Crude Oil
$0.05

Platforms

Overall Score
3.8 /5
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Pros

  • User-friendly prop platform
  • Good Mobile app

Cons

  • MT4/MT5 not available

eToro takes pride in its proprietary trading platform, featuring a clean user interface and innovative social trading tools like CopyTrader and CopyPortfolios:

In-House Platform Offering

eToro's proprietary trading platform stands out with its sleek and intuitive user interface.
It offers unique social trading tools, such as CopyTrader and CopyPortfolios, enabling users to replicate the strategies of successful traders.
With its robust and user-friendly design, eToro caters to both novice and experienced investors.
The platform’s innovative features make it a leading choice in the world of online trading.

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Accounts

Overall Score
4.6 /5
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Pros

  • Smooth and Fast Account Opening
  • Islamic Account Available

Cons

  • Inactivity Fee
  • USD only as base currency

Account Types

eToro now provides the following trading accounts, each designed to cater to the varying needs of different trader types

Retail Clients Account
 The first option is the Retail Clients Account, also known as a retail investor account, tailored for non-professional traders. This account offers both Copy Trade functionality and manual trading. It comes with strict margin closeout restrictions, while negative balance protection ensures that losses do not exceed a trader's deposit. Maximum Leverage is limited at 30:1.
Professional Clients Account
 The Professional Clients Account is designed for experienced traders who are well-versed in financial markets and can pass a proficiency test. Professional clients can access leverage up to 400:1, while still benefiting from negative balance protection similar to that offered to retail clients.
Islamic Account
 eToro also offers an Islamic account, which requires a minimum deposit of $1,000. In contrast, most other traders can open an account with a deposit ranging between $50 and $200.
Demo Account
 Clients can test the platform with no expiry limit.

Account Opening Process

Opening an account at eToro is quick and effortless, with a relatively low minimum deposit required in most countries.

 

Account Base Currencies

At eToro, the only available base currency is USD. Therefore, funds in other currencies may need to be converted to USD by eToro, and will incur conversion fees.

This is important for two main reasons:
1) If you deposit funds into your trading account using the same currency as your bank account, or if you trade assets denominated in your trading account's base currency, you can avoid paying any conversion fees.
2) To further reduce currency conversion costs, consider opening a multi-currency bank account with a digital bank.
These accounts typically support multiple currencies and offer favorable exchange rates, along with low-cost or free international bank transfers. Plus, you can open an account quickly and easily using just your phone.

Account Features

Minimum Deposit
$50
Inactivity Fee
$10 monthly after 12 months of inactivity
Currency Conversion Fee
Broker commissions
No for Forex
Hidden Fees
Negative Balance Protection

Deposit and Withdrawal

Overall Score
4.3 /5
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Pros

  • Multiple Payment Solutions
  • No Deposit Fee

Cons

  • Relatively Slow Withdrawal
  • Withdrawal Fee

Depositing money is straightforward with many available options. However, there is a $5 withdrawal fee.
Additionally, since only USD accounts are available, you may incur a high conversion fee if you deposit or withdraw in another currency, such as EUR or GBP.

Payment Methods

Bank Transfer
Credit/Debit Cards
Electronic Wallets
Crypto Payments

e-wallets

Neteller
Skrill
Paypal
Klarna
iDEAL
Trustly
Giropay
RapidTransfer

Fees and Processing Time

Deposit Fee
Withdrawal Fee
Yes [$5]
Withdrawal Processing Time
Average

Trust

Overall Score
4.7 /5
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Pros

  • Top-tier regulations
  • Established since 2007

Cons

  • Low TrustPilot Score [4.2]

eToro is considered safe for trading, being regulated by major financial authorities like the FCA, CySEC, and ASIC.
The platform offers strong investor protection and advanced security measures, including SSL encryption and two-factor authentication.
With its transparent operations and positive reputation, eToro has a solid standing in the market.
Additionally, eToro plans to become publicly traded, further enhancing its credibility and trustworthiness.

Global Regulations
Registration Country
CySEC
Cyprus
FCA
United Kingdom
ASIC
Australia
FSA
Seychelles

Customer Xperience

Overall Score
3.1 /5
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Pros

  • Excellent Education Materials

Cons

  • Poor Customer Support
  • No Bonus available

Education and Research

While eToro does not offer in-house research, it provides analytics from the third-party service TipRanks, which is an excellent choice. Given the abundance of quality research available online, the lack of an in-house team is not a drawback.

A notable development at eToro is the introduction of the eToro Academy. Previously, eToro did not offer much support for beginner traders, relying mainly on its community. Now, the eToro Academy provides a well-structured platform with videos, webinars, and guides.

It is considered to be one of the best educational tools available and we recommend beginner traders to take full advantage of it.

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Sweeteners

Bonus
Trading Competitions
Mainly rewards traders for their number of followers
Free VPS
EA

Customer Support

While eToro states that they offer 24-hour customer service, 5 days a week, no contact number is provided.
Instead, users are directed to visit the help center, which includes FAQs, or to open a support ticket.
Some live chat is available within the eToro platform, but many reviews have noted: "The support is really bad, live chat usually not working."

FAQs
Poor
Support Methods
Live Chat,
Email,
Support Hours
24/5
Multiple Languages
English,
Arabic,
French,
Portuguese,
Spanish,
Russian,
Chinese