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eToro Review 2024

By:
Plamen Stoyanov
Updated: Feb 14, 2024
Overall Rating
4.3
  • Trust
    4.5
  • Fees
    3.4
  • Platforms and Tools
    4.3
  • Tradable Instruments
    4.7
  • Customer Support
    4.7
  • Research
    5
  • Deposit and Withdrawal
    3.9
  • Account Types and Terms
    4.2
  • Education
    4.9
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    *eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

    Our Take on eToro

    Founded in 2007 and headquartered in Israel, eToro has grown into one of the most trusted derivatives brokers in the online trading industry. In addition to its vast array of trading instruments, supporting tools, and an innovative proprietary platform, eToro specializes in copy trading.

    The broker is one of the biggest social trading platforms in the world, and it also provides its clients with plenty of trading and investing opportunities. I thus found eToro to be the perfect choice for those interested in diversifying their trading and investing opportunities.

    Recommended in 6 best broker guides: 
    Trading Apps | Platforms in Europe | Hedging | Commodities| EnergyEthereum

    eToro Pros and Cons

    Pros Cons
    • Highly regulated 
    • Feature-rich platform
    • Lots of supporting tools
    • Diverse social trading options
    • Suitable for hedging 
    • No desktop platform 
    • Scalping not permitted 

    eToro Highlights for 2024

    • Multiple Top-Tier Regulations. eToro is licensed and regulated by several top-tier financial regulators, underscoring its high trust level.
    • Geared Towards Social Trading. The platform connects over 20 million traders worldwide and offers them the chance to exchange trading ideas and experiences.
    • Versatile Trading Platform. eToro has developed a feature-rich trading platform that simplifies order execution and accommodates sophisticated technical analysis.
    • Trading and Investing Opportunities. Clients are allowed to speculate on price action behavior via CFD trading and to generate dividends from investing in real stocks.
    • Broad Instruments Selection. Traders can choose from more than 3,500 CFDs on instruments from different asset classes.
    • Comprehensive Research and Education. eToro offers clients a rich array of educational resources, including market analyses, video tutorials, and diverse content for a thorough understanding of market trends.

    Who is eToro For?

    eToro’s services are geared towards those interested in social and copy trading. The broker has fostered a global community of over 20 million traders who provide and follow each other’s strategies and also learn from each other’s trading experiences.

    eToro is ideal for beginners wishing to follow the strategies of seasoned traders with a proven track record; they can do so without having to pay extra commissions to the broker. Experienced traders can benefit from eToro’s enormous client pool and gain exposure for their strategies. They can generate extra revenue from each new subscriber.

    What Sets eToro Apart?

    eToro does not charge a service fee (commission) for copying other traders and their strategies, which is quite uncommon among brokers geared toward copy and social trading.

    I performed my tests on a CFD Trading account using the web-based and mobile app versions of eToro’s proprietary platform. The account was opened with the eToro (UK) Ltd entity of the broker. Some features and services may vary depending on where you reside and which entity you open an account with.

    eToro Main Features

    ☑️ RegulationsCySEC (Cyprus), FCA (United Kingdom), FSA (Seychelles), ASIC (Australia)
    🗺 Supported Languages
    Turkish, English, Russian, French, Dutch, Portuguese, Thai, Taiwanese, Polish, Czech, Arabic, Italian, Spanish, Chinese, Finnish, Japanese, Swedish, Greek, Vietnamese, Malaysian, German, Multi-lingual, Romanian, Norwegian
    💰 ProductsCurrencies, Stocks, ETFs, Crypto, Indices, Commodities
    💵 Min Deposit$50
    💹 Max Leverage1:30 (CySEC ), 1:30 (FCA), 1:500 (FSA), 1:30 (ASIC)
    🖥 Trading Desk TypeMarket Maker
    📊 Trading PlatformseToro Platform
    💳 Deposit OptionsSofort, Przelewy, Wire Transfer, Skrill, Neteller, iDeal, Klarna, Trustly, Rapid Transfer, Debit Card
    💳 Withdrawal OptionsWire Transfer, Neteller, Moneybookers, Webmoney, Skrill, PayPal, Debit Card, iDeal, Klarna, Sofort, Przelewy
    🤴 Demo AccountYes
    🗓 Foundation Year2007
    🌎 Headquarters CountryCyprus
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    eToro Full Review

    Trust

    eToro is authorized in several jurisdictions by four Tier-1 regulators and one offshore regulator. The broker adheres to the most stringent safety requirements and guarantees its clients a very high degree of protection. I also assessed eToro to be a fairly transparent and trustworthy broker.

    eToro Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    This is what I discovered about eToro:

    • eToro (Europe) Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 109/10. We rank CySEC as a Tier-1 regulator.
    • eToro (UK) Ltd is licensed and regulated by the Financial Conduct Authority (FCA) under license number FRN 583263. We rank the FCA as a Tier-1 regulator.
    • eToro AUS Capital Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 491139. We rank ASIC as a Tier-1 regulator.
    • eToro USA Securities Inc. is licensed and regulated by the Financial Industry Regulatory Authority (FINRA) in the United States under license number 298361/SEC#:8-70212. We rank FINRA as a Tier-1 regulator.
    • eToro (Seychelles) Ltd is licensed and regulated by the Financial Services Authority (FSA) of Seychelles under license number SD076. We rank the FSA as a Tier-3 regulator.
    eToro (UK) Ltd’s licensing information on fca.org.uk

    We have summarized the most essential aspects of eToro in terms of regulation and safety in the table below:

    Entity Features eToro (UK) Ltd eToro (Europe) Ltd eToro AUS Capital Ltd eToro USA Securities Inc. eToro (Seychelles) Ltd
    Country/Region UK, London Cyprus, Limassol Australia, Sydney USA, New York Seychelles, Mahe
    Regulation FCA CySEC ASIC FINRA FSA
    Tier 1 1 1 1 3
    Segregated Funds Yes Yes Yes Yes Yes
    Negative Balance Protection Yes Yes Yes No Yes
    Compensation Scheme Up to GBP 85,000 Up to EUR 20,000 No Up to USD 500,000 No
    Maximum Leverage 1:30 1:30 1:30 1:1 1:500

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All of eToro’s entities ensure this.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. This is especially important in volatile markets. All eToro’s subsidiaries provide negative balance protection, except for the U.S. entity.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. Clients of eToro (UK) Ltd are protected under the Financial Services Compensation Scheme (FSCS) of the FCA by up to 85,000 GBP. Clients of the CySEC-regulated entity, eToro (Europe) Ltd, are protected by up to EUR 20,000 under the Investor Compensation Fund (ICF). Clients of the FINRA-regulated subsidiary, eToro USA Securities Inc., are protected by up to USD 500,000.
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum retail leverage with eToro is 1:500, available with eToro (Seychelles) Ltd.

    Is eToro Safe to Trade With?

    The eToro (UK) Ltd entity, which I was reviewing, is authorized by one of the most trusted financial regulators in the industry – the FCA – and complies with the most stringent safety requirements and generally provides multilayered protection. Additionally, the subsidiary operates on a ‘best execution’ basis, meaning it is required to provide the most favorable price quotes under prevailing market conditions. Consequently, I concluded that this broker’s entity can be considered safe for trading.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.

    I reviewed eToro’s client agreement and multiple legal documents and found them quite transparent. Important information is easily accessible on the website and written in an easy-to-grasp manner.

    eToro’s high regulation transparency

    An attestation to eToro’s high regulation transparency is its risk notice found at the bottom of the main page. It cautions traders against the risks of cryptocurrency trading and copy trading. This is particularly important given that eToro offers a fairly large amount of cryptocurrency assets structured in different ways.

    In summary, my research indicates that eToro can be regarded as having a high level of trust and stability due to the following factors:

    • Licensed by multiple top-tier regulators
    • Adheres to all essential safety mechanisms
    • Has a fairly transparent website
    • Does not hide information about the risks of trading

    Fees

    eToro was one of the first brokers to introduce commission-free trading. Its floating spreads generally meet the industry average, though some are quite elevated. Its rollover fees are also higher than usual, though swap-free trading is possible via eToro’s Islamic accounts. The broker’s non-trading fees generally fall below the industry average.

    eToro’s Trading Fees

    eToro’s Spreads

    I tested eToro’s spreads during the most actively traded times – the London open at 8:00 a.m. GMT and just after the U.S. open at 2:45 p.m. GMT. The test was conducted on 13 November 2023. The results are shown in the table below:

    Instrument Live Spread AM Live Spread PM
    EURUSD 1.0 pips 0.9 pips
    GBPJPY 2.7 pips 2.9 pips
    Gold (XAUUSD) 45 pips 45 pips
    Crude Oil 0.05 pips 0.05 pips
    Apple Not Applicable 0.56 points
    Tesla Not Applicable 0.74 points
    Dow Jones 30 6 basis points 6 basis points
    Germany 40 2 basis points 2 basis points
    Bitcoin (BTCUSD) Not Available Not Available

    Broken down by asset class and compared to the industry average, eToro charges low-to-high spreads on FX pairs, average spreads on share CFDs, and average-to-high spreads on commodities and indices. I concluded that trading share CFDs with eToro is particularly advantageous, primarily because the broker does not impose any fixed commissions on these instruments.

    eToro’s Swaps

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full contract (100,000 units) of the base currency.

    Instrument Swap Long Swap Short
    EURUSD Credit of $9.82 Charge of $71.48
    GBPJPY Charge of $22.34 Credit of $13.91

    I recorded average-to-high swap charges with eToro.

    eToro’s Commissions

    The broker offers commission-free trading across all major markets except for crypto assets (not CFDs). eToro charges a 1% commission in addition to the spread cost for buying and selling cryptos.

    There is also a conversion fee liable when trading instruments denominated in a currency different from your account’s base currency.

    Most importantly, the broker does not charge a commission for copying other traders’ strategies on the eToro platform.

    eToro’s Non-Trading Fees

    eToro does not charge a handling fee for deposits, though withdrawals may be liable for a service fee; third-party banking fees may also apply. The broker also charges dormant accounts an inactivity fee of $10; the fee is charged monthly after the 12th month of inactivity until activity resumes or the account balance drops to zero.

    Are eToro’s Fees Competitive?

    The competitiveness of eToro’s fees varies depending on the instrument traded and across asset classes. They generally meet the industry average, though the spreads on some instruments are quite elevated. Because of its $0 commissions and generally average spreads, eToro’s most competitive conditions are for trading share CFDs.

    eToro’s fees are also quite competitive for copy and social trading, primarily because the broker does not charge a service commission for subscribing to other traders’ strategies.

    Accounts Comparison

    Usually, we compare the fee competitiveness of a broker’s own trading accounts, but since eToro only provides a single CFDs Trading account type (whose underlying conditions vary depending on your membership status), I decided to compare its pricing mechanism to the industry average.

    The table below illustrates the spreads and commissions I have recorded on the EUR/USD pair on eToro’s CFD Trading account and the usual values I record on classic STP and ECN accounts in other brokers. It shows how much you have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10.

    To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

    Account Type* Spread Commission** Net Cost
    CFD Trading 1.0 pips $0 $10
    Typical STP 1.1 pips $0 $11
    Typical ECN 0.4 pips $6 $10

    *The numbers in this chart are only indicative and subject to change over time

    **Round-turn commission

    My tests indicate that eToro’s fees are only marginally better than what you can expect on your typical STP trading account and comparable to the typical ECN trading account.

    Platforms and Tools

    eToro has developed its own feature-rich web trader platform as well as a very practical mobile app. The broker has developed an excellent ‘Delta Tool’, helping traders to better manage their portfolios. However, it does not incorporate any other retail platforms.

    eToro stands out as a leading social trading broker, a fact reflected in its platform design. Primarily structured to facilitate copy trading, it does not, however, support algorithmic trading. Access to eToro’s CopyTrader feature is straightforward – simply click the ‘Discover’ button on the platform. Moreover, the platform allows you to search for strategies aligning with your criteria, such as average risk, duration, and traded assets, making it easier to find a match that suits your trading style.

    Copy Trading with eToro

    What impressed me about the platform is its user-friendly design, where all features are just a few clicks away. As depicted in the image above, traders can instantly access the latest financial news, current market sentiment, and key information about the instruments they intend to trade, ensuring a streamlined and informative trading experience.

    eToro’s detailed platform

    Another advantage of eToro’s platform is that it incorporates its charts from TradingView, which, in my opinion, offers the most versatile charting tools in the industry. It thus caters to the needs of experienced chart artists seeking to conduct probing technical analyses.

    eToro’s proprietary ‘Delta Tool’

    Then there is eToro’s intuitive ‘Delta Tool,’ designed to simplify performance tracking of one or more portfolios and accounts with eToro. I assess this feature to be very useful as it allows you to trade and invest in multiple ways.

    eToro’s Proprietary Web Trader Platform

    eToro’s watchlists

    General Ease of Use

    eToro’s platform is very easy to use, and even beginners can quickly get used to it. Its watchlists of selected instruments are light and easy to scroll through; its charts are detailed and suitable for conducting probing technical analyses. Account info is easily accessible and exhaustive. Finally, the platform is also integrated with a sophisticated news screener, allowing you to stay on top of current market developments.

    Charts

    I consider the chart screen of a platform its most important feature. It aids technical analysis by providing an overview of price action behavior and allows traders access to a number of analytical tools and chart configuration possibilities. A good chart should afford easy scaling up and down of price action.

    eToro’s charts are powered by TradingView

    eToro’s platforms are powered by TradingView, which is why they are so detailed and intuitive. As shown in the above image, price action is illustrated clearly; it is remarkably easy to scroll price action up and down.

    I particularly liked that you can implement multiple technical indicators and drawing tools without obscuring price action. This makes it very easy to spot potential breakouts/breakdowns from established trends, which is why I determined that the platform is quite useful for conducting comprehensive technical analyses.

    I have broken down the available analytical tools and chart configurations below:

    • 105 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next. Thanks to TradingView, eToro’s platform has access to one of the biggest collections of technical indicators in the industry.
    • 55+ drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels. I particularly liked the wide variety of available Elliott Waves and Fibonacci retracement level configurations.
    • 9 timeframes. The platform affords multi-timeframe analysis of price action behavior. The greater the number of timeframes, the more intricate examinations that can be carried out across the short-term and long-term.
    • 9 chart types. eToro’s platform has one of the best offerings for chart type configurations. This diversity makes it possible to examine potential trading opportunities from multiple angles.

    Orders

    An order placing screen on eToro’s platform

    One of the biggest advantages of eToro’s platform is that you can configure your preferred leverage before executing a trade. This gives you greater flexibility to manage your risk depending on the performance of past trades, changing market volatility levels, parameters of underlying strategy, and more.

    I also quite liked that the order screen provides you with ample information pertaining to the trade you wish to execute before placing an order. This includes information related to the trade’s estimated margin, percent of equity, market exposure, and rollover charges.

    I have broken down the available order types on eToro’s platform below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    My Key Takeaways After Testing eToro’s Proprietary Platform

    My experience with eToro’s platform was exceptionally positive. The platform, abundant in features, facilitates smooth order execution. As an experienced chart analyst, I found its charts particularly effective for examining price action behavior. This makes the platform suitable for implementing in-depth technical analysis. Furthermore, it supports robust risk management strategies, allowing traders to adjust leverage for each trade, thereby enhancing control over their trading risks.

    eToro’s Mobile App

    The app’s home screen, a watchlist of selected instruments, a chart screen, and an order-placing screen

    eToro’s mobile app retains most of the features that are available with its web trader version. It affords traders easy access to the market and to their accounts. Order execution is simplified, which is an essential requirement for a practical app. The charts are still powered by TradingView, though it is comparatively more difficult to conduct sophisticated technical analysis on low-resolution devices such as smartphones.

    My Key Takeaways After Testing eToro’s Mobile App

    While I’m usually wary of trading apps due to the challenge of displaying complex information on small screens, eToro’s app impressively stands out for its versatility. It adeptly handles copy trading and enables traders to make prompt adjustments to their open positions, a feature I consider to be its most significant advantage. This functionality makes it a strong contender even among those who prefer desktop trading.

    Tradable Instruments

    eToro boasts a diverse portfolio of over 3,500 instruments across various markets, available for trading as Contracts for Difference (CFDs), ranging from lower-risk securities to higher-yield/risk assets. Moreover, eToro clients have the opportunity to invest in actual stocks and a wide array of cryptocurrencies, enhancing their investment choices.

    Despite eToro’s wide range of available instruments, it is quite easy to look for a particular instrument on the broker’s platform. As shown below, you can explore eToro’s offering by choosing a particular market and a set of available asset types.

    The intuitive instruments search on eToro’s platform

    What Are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying asset without physical delivery. For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With eToro?

    I have broken down the available instruments with eToro below:

    • 51 Currency Pairs
      Major, Minor, Exotic
    • 32 Commodities
      Agriculture (9), Metals (5), Energy (8), Precious Metals (4), Other (6)
    • 3201 Stocks
      Tech, Retail, Entertainment, Transportation, Manufacturing, Other.
    • 21 Indices
      Europe, US, UK, Asia, Treasury Futures.
    • 400 ETFs
      Retail, Commodities, Tech, Other.
    • 158 Crypto
      Coins (80), Crypto Crosses (14), Currency Crosses (63), Commodity Crosses (1)

    Compared to the broader industry, eToro offers an average amount of currency pairs and a high amount of commodities, share CFDs, indices, and cryptocurrencies.

    Forex Commodities 
    EURUSD | GBPJPY | USDZAR | USDJPY | EURCHF | AUDCAD | Gold | Silver | Crude Oil | Natural Gas | Wheat | Corn | Cattle | Orange Juice
    Stocks Indices
    Apple | Tesla | Barclays | Microsoft | Goldman Sachs | Uber | Caterpillar Dow Jones 30 | Germany 40 | Nasdaq 100 | France 40 |  Japan 225
    ETFs Crypto
    SPDR Gold | Energy Select Sector SPDR | iShares 1-3 years Year Treasury Bond ETF | iShares China Large-Cap ETF Bitcoin | ETHBTC | Dash | XRP | Tron | Neo | Solana | Teta | ZECXLM | BCHLTC | BTCEOS

    My Key Takeaways After Exploring eToro’s Tradable Instruments

    I discovered that eToro has one of the highest assortments of commodities and crypto assets in the industry. The broker features an ample amount of lower-risk securities like ETFs, which can be used to hedge trading risk. Additionally, there is a wide choice of high-yield/risk assets like share CFDs, cryptocurrencies, and indices, which can be used to speculate on changing volatility levels. Consequently, I assessed that eToro’s instruments offering is very well-balanced and versatile.

    Customer Support

    eToro offers multilingual support via various channels, including email, live chat, and phone. However, the latter two are only available to active traders with at least $5000 in their accounts. Visitors of eToro’s website can send a request form to eToro’s customer support. There is also a dedicated FAQ section.

    The broker’s ticketing form is available from its Customer Service Center. Before submitting your question, you have to choose the type of your query. You can also submit supporting images. It may take up to 2 business days to receive a reply.

    eToro’s ticket form

    Customer Support Test

    When we test a broker’s customer support team, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    I submitted a ticket to eToro, requesting additional information about the broker’s execution model and its average execution speed. As promised, I received a detailed answer within two days after submitting my ticket. The explanation was comprehensive and well-structured.

    Deposit and Withdrawal

    eToro accepts payments via bank wire, credit/debit cards, or e-wallets. Deposits are charge-free, while withdrawals are liable for a $5 fixed fee plus any third-party banking fees that may apply. Transactions are processed fairly quickly.

    eToro’s Deposit Methods

    Method Processing Time Currencies Fee Countries Max. Single Deposit
    eToro Money* Instant GBP $0 International £250,000
    Credit Card*/Debit Card Instant EUR, USD, GBP, AUD $0 International $40,000
    Wire Transfer 4-7 business days USD, EUR, GBP $0 International Unlimited
    PayPal* Instant EUR, USD, GBP, AUD $0 International $10,000
    Neteller Instant EUR, USD, GBP $0 International $10,000
    Skrill Instant EUR, USD, GBP $0 International $10,000
    Rapid Transfer Instant EUR, USD, GBP $0 Norway $5,500
    iDeal Instant EUR $0 The Netherlands $50,000
    Klarna/Sofort Banking Instant EUR $0 Germany $30,000
    Trustly Instant EUR, GBP, SEK, DKK, NOK, PLN, CZK $0 Estonia, Finland, Latvia, Lithuania, Norway, Sweden $40,000
    Przelewy24 Instant PLN $0 Poland  $11,500

    *Availability varies depending on the region.

    eToro’s Withdrawal Methods

    Method Currencies Countries Fee
    eToro Money* GBP International $5
    Credit Card*/Debit Card EUR, USD, GBP, AUD International $5
    Wire Transfer USD, EUR, GBP International $5
    PayPal* EUR, USD, GBP, AUD International $5
    Neteller USD, EUR, GBP International $5
    Skrill EUR, USD, GBP International $5
    iDeal EUR The Netherlands $5
    Klarna/Sofort Banking EUR Germany $5
    Przelewy24 PLN Poland $5

    *Availability varies depending on the region.

    Please keep in mind that any non-USD payments are liable for a conversion fee.

    Account Types and Terms

    eToro provides a range of trading and investing options through its singular CFD Trading account, adaptable for margin trading. The specific terms of this account can differ based on your account balance and tier within the ‘eToro Club’ program. The platform accepts multi-currency deposits, but it’s important to note that non-USD deposits incur a conversion fee. Additionally, eToro accommodates swap-free trading through its Islamic Accounts.

    Why is Choosing the Right Account Type Important?

    Your account should reflect your goals, needs, and ambitions on the market. You should take into consideration several factors, such as whether the account type has a minimum deposit requirement, its spreads and commissions, the execution method, and more.

    What Account Types Does eToro Offer?

    I have broken down the features of eToro’s single CFD account type below:

    Account Type CFD Trading
    Spread From 1.0 pips
    Commission $0
    Minimum Deposit $50
    Base Currencies USD
    Islamic Account Yes
    Demo Account Yes
    Maximum Leverage 1:30

    The eToro CFD Trading account is a classic retail account featuring commission-free trading and floating spreads from 1.0 pips. Its greatest advantage is that it is quite accessible with a minimum deposit requirement of only $50.

    The eToro Club’s Membership Tiers

    Club Silver Gold Platinum Platinum+ Diamond
    Tier Balance Required $5,000 $10,000 $25,000 $50,000 $250,000
    Account Manager Yes Yes Yes Yes Yes
    Live Webinars Yes Yes Yes Yes Yes
    Weekly Market Analysis Email Yes Yes Yes Yes Yes
    eToro Club Trading Academy Yes Yes Yes Yes Yes
    Discount on Exchange Fees 25% 25% 50% 50% 100%
    Interest on Balance 0% 2% 2.4% 5% 5.3%
    No Withdrawal Fees No No Yes Yes Yes
    TradingCentral Research and Analysis No No Yes Yes Yes

    To access eToro’s live chat, weekly market analyses, and live webinars, you must deposit a minimum of $3000, qualifying you for a silver account membership. With a gold membership, you earn interest on your balance, generating passive income even without active trading. The higher-tier memberships (platinum, platinum+, and diamond) offer even more benefits, including higher interest rates, commission-free withdrawals, and exclusive access to advanced insights from TradingCentral.

    eToro’s Execution Model

    eToro operates as a market maker, which means that it acts as a counterparty to its clients’ orders. The benefit of this model is its superior execution standards. Market makers support fast and precise order execution, mitigating the risk of negative slippage.

    What is CFD Leverage?

    The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

    eToro’s Account Opening Process

    Setting up a trading account with eToro

    The account creation process with eToro is straightforward and quick. You can go at your own pace, though realistically, you will be done with everything within an hour. I have summarized the process step-by-step below:

    • Step 1. Click ‘Sign Up’ in green at the top-right corner.
    • Step 2. Enter a chosen username, a password, and an email address.
    • Step 3. Copy the activation code you’ve been sent to your email address.
    • Step 4. Fill in your personal information.
    • Step 5. State your trading experience and personal wealth information.
    • Step 6. Upload proof of address and ID to verify your account.
    Filling out a registration form

    Why is a Demo Account Important?

    eToro offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.

    eToro’s Available Countries

    Argentina, Australia, Austria, Bahrain, Bangladesh, Belgium, Bolivia, Brazil, Bulgaria, Cayman Islands, Chile, Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Estonia, Finland, France, French Guiana, French Polynesia, Germany, Gibraltar, Greece, Guadeloupe, Guernsey, Hong Kong, Hungary, Iceland, Ireland, Isle Of Man, Israel, Italy, Jersey Island, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Macau, Malaysia, Malta, Martinique, Mayotte, Mexico, Monaco, Netherlands, New Zealand, Norway, Oman, Peru, Philippines, Poland, Portugal, Qatar, Reunion Island, Romania, Seychelles, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates, United Kingdom, United States, Uruguay, Vietnam.

    Research

    eToro provides excellent in-house research materials and incorporates content from third-party providers. Traders are given access to multiple video breakdowns, written articles, market sentiment tools, and more. As a whole, eToro’s research content affords a 360-degree overview of current market developments.

    Research Tools

    I have broken down eToro’s different types of research content below:

    News and Analysis

    eToro publishes periodic market analyses that are mostly investment-oriented. They offer a broad overview of prevailing market trends. This type of content is free and available from eToro’s website.

    A market research material by eToro

    Earnings Calendar

    The earnings calendar, as the name suggests, informs traders of upcoming releases by publicly traded companies. These events usually cause a significant market reaction, resulting in viable trading opportunities.

    eToro’s earnings calendar

    ESG

    ESG stands for Environmental, Social, and Governance data. This third-party tool helps you understand the value of a company stock based on how ethical the company is e.g. how well it treats its employees, how clear its corporate structure is, and how eco-friendly it is. Companies with high corporate social responsibility (CSR) are likely to attract more socially responsible investors, which, in turn, attracts capital and helps the company grow in value.

    eToro’s ESG tool thus allows traders to look for companies whose share value is likely to grow in the future, which can help them spot viable trading opportunities. Another thing I like about the tool is that it displays a risk factor for each company, helping traders and investors appreciate the underlying risk even better.

    eToro’s ESG tool

    eToro Plus

    eToro’s weekly and daily market breakdowns review the latest developments in different industries. There are also analyses of upcoming market events and economic releases, underpinning their likely impact on the market. Content is supported by multiple images and graphs, making it easier to understand. Notably, there are no price charts to illustrate direct trading opportunities. You can check out one such broad review here.

    eToro’s deep market analyses

    Video Breakdowns

    eToro also published market breakdowns in video format, which are available from the broker’s YouTube channel. These are well-informed and have more direct trading implications.

    eToro’s Video Breakdowns

    News Screener

    The news screener is available to active accounts directly from the platform. Its advantage is that it helps traders stay on top of the latest market developments and emerging trading opportunities without having to leave the platform, thereby saving precious time in the process.

    My Key Takeaways From Exploring eToro’s Research Content

    eToro’s research resources are comprehensive and varied, encompassing a broad spectrum of topics in various accessible formats. This diversity enhances usability, catering to different preferences and learning styles. I particularly appreciated video breakdowns tailored for traders, alongside content focused on broader investing themes, as they effectively address the needs of both traders and investors.

    Education

    eToro’s educational content provides beginners with a solid foundation in trading basics, effectively covering essential concepts in an accessible manner. It serves as a useful introduction to the fundamentals of trading and an archive of key concepts. However, for those seeking to delve into more advanced topics and strategies, external resources will be necessary to complement this foundational knowledge.

    eToro’s Educational Materials

    I have broken down eToro’s educational materials by type below:

    Educational Courses

    eToro has 21 trading courses available from the ‘Academy’ section of the website; each one can be read/watched in less than 10 minutes. They cover mostly general investing topics. Others cover topics such as, ‘what is Bitcoin’ or ‘what is Forex’.

    I assessed these courses to be good for beginners, but they are not enough to provide first-time traders with a solid basis. I, however, like that there are quizzes at the end, helping you memorize what you have read. The texts are supported by graphs, images, and sometimes by video content.

    eToro’s educational courses

    Educational Guides

    The guides offer a basic introduction to fundamental trading and investing concepts, without delving too deep into the subject matter. Some of them are in video format, making them more easily accessible. I like that there are lots of images and supporting graphs to underscore the written text.

    eToro’s educational guides

    Tutorials

    Step-by-step guides about eToro and its services, such as how to partner with eToro and how to become an eToro affiliate.

    eToro’s tutorials

    Digest and Invest Podcast

    The Digest & Invest is a collection of lengthy conversations between market experts on multiple trading and investing topics. The content is developed in a podcast form, making it easy to listen to even when driving or doing other daily tasks.

    eToro’s Digest & Invest podcasts

    Account Security

    Quite unique to eToro, the broker has a dedicated page on how to protect themselves against forex scams. There you can read about the most common ploys used by scamers when trying to steal the money of their victims.

    eToro’s account security info

    The Bottom Line

    eToro ranks among the best-recognized brand names in the trading industry because of its extensive range of superior trading and investing services. The broker comprises one of the biggest social trading communities connecting over 20 million people worldwide, which makes it the perfect choice for those interested in copy trading.

    eToro is regulated by several top-tier bodies, underscoring its trustworthiness. The broker is also in the process of getting listed on the Nasdaq, which is another indication of its reliability.

    eToro operates as a market maker and offers its clients access to over 3,500 trading instruments across multiple asset classes. It strikes a fine balance between lower-risk securities and higher-yield/risk assets, thus allowing traders to better hedge their risks. The broker has also developed an excellent proprietary platform, which is ideal for copy trading and carrying out probing technical analysis.

    Regarding its drawbacks, I would list its average-to-high trading costs on instruments from some asset classes and the lack of diversity of trading platforms.

    Risk Warning

    eToro is a multi-asset platform that offers both investing in stocks and crypto assets, 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. 76% 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 decisions.

    Copy Trading does not amount to investment advice.  The value of your investments may go up or down.  Your capital is at risk.

    Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

    Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

    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.”

    FAQ

    eToro is headquartered in Tel Aviv, Israel. The broker also has offices in the US, Cyprus, the UK, Australia, and Seychelles.
    eToro is regulated by a couple of top-tier regulatory bodies, and it adheres to most safety requirements. Overall, it can be considered safe to trade with.
    Yes, eToro is good for beginners because of its multiple social trading services as well as a rich array of educational and research content.
    The minimum deposit requirement with eToro is $50.
    Clients of eToro can withdraw funds via bank transfer, bank card, or e-wallets.
    Wire transfers typically take between 3–5 business days. Other payment methods vary.
    The maximum leverage for retail traders with eToro (UK) Ltd is 1:30.
    Accounts can be opened from the main page of the website.
    eToro has a proprietary web-based platform.
    Yes, it does.
    No, scalping is not permitted on eToro’s platform.
    No, auto-trading is not permitted on eToro’s platform.
    Yes, hedging is available with eToro.
    No, eToro does not offer spread betting.
    No, it does not.
    Depends on the particular asset class. For instance, the Forex market is open 24/5, whereas shares of U.S. companies can be traded during the New York Stock Exchange (NYSE) open – Monday to Friday from 09:30 a.m. to 4:00 p.m. EST.
    Yes, eToro operates as a market maker.
    No, eToro does not operate a bank.

    See eToro Full Information

    Headquarters CountryCyprus
    Foundation Year2007
    RegulationsCySEC (Cyprus), FCA (United Kingdom), FSA (Seychelles), ASIC (Australia)
    Publicly TradedNo
    Number Of Employees200+
    Trading Desk TypeMarket Maker
    Trading PlatformseToro Platform
    Restricted Countries
    Afghanistan, Curacao, Tonga, Guam, Vatican City, Swaziland, Bermuda, Suriname, Senegal, Zambia, Albania, Angola, Turkey, Timor-Leste, Marshall Islands, Paraguay, Cook Islands, Antigua and Barbuda, Tunisia, New Caledonia, Andorra, Trinidad and Tobago, Kosovo, Northern Mariana Islands, Somalia, Puerto Rico, Sweden, Togo, Mongolia, Azerbaijan, Slovenia, Belgium, Russian Federation, Turkmenistan, Solomon Islands, Venezuela, Yemen, Niue, Saint Barthelemy, Saint Helena, Saint Martin, Saint Pierre, Wallis and Futuna, Greenland, Tuvalu, Botswana, Uganda, Syria, French Polynesia, Sierra Leone, Ukraine, Uzbekistan, Brunei, Cambodia, Central African Republic, Comoros, El Salvador, Saudi Arabia, Lebanon, Serbia, Madagascar, Aruba, Ethiopia, Taiwan, Fiji, Vanuatu, Gambia, Panama, Israel, Tajikistan, Mauritius, Japan, South Africa, Virgin Islands, British, Tanzania, Isle of Man, Kiribati, Libya, Mozambique, Myanmar, Netherlands, Pakistan, Portugal, Haiti, South Sudan, Sri Lanka, Sudan, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Zimbabwe, Bonaire, Christmas Island, Cocos Islands, Aland Islands, Anguilla, Svalbard and Jan Mayen, Honduras, Egypt, Samoa, San Marino, Algeria, Armenia, Bahamas, Barbados, Belarus, Belize, Benin, Bhutan, Bosnia and Herzegovina, Burkina Faso, Burundi, Cameroon, Canada, Cape Verde, Chad, China, Congo, Cote dIvoire, Croatia, Cuba, Cyprus, Djibouti, Dominica, Equatorial Guinea, Eritrea, Gabon, Georgia, Ghana, Jamaica, Jordan, Kazakhstan, Kenya, North Korea, South Korea, Nauru, Kyrgyzstan, Laos, Lesotho, Guinea-Bissau, Guyana, Montenegro, Liberia, Sao Tome and Principe, Moldova, Namibia, Palau, Macedonia, Malawi, Maldives, Mali, Mauritania, India, Micronesia, Monaco, Morocco, Nepal, New Zealand, Nicaragua, Niger, Nigeria, Iceland, Papua New Guinea, Iran, Grenada, Guatemala, Guinea, Iraq, Rwanda, Democratic Republic of the Congo
    Supported Languages
    Turkish, English, Russian, French, Dutch, Portuguese, Thai, Taiwanese, Polish, Czech, Arabic, Italian, Spanish, Chinese, Finnish, Japanese, Swedish, Greek, Vietnamese, Malaysian, German, Multi-lingual, Romanian, Norwegian
    Min Deposit$50
    Max Leverage1:30 (CySEC ), 1:30 (FCA), 1:500 (FSA), 1:30 (ASIC)
    Deposit OptionsSofort, Przelewy, Wire Transfer, Skrill, Neteller, iDeal, Klarna, Trustly, Rapid Transfer, Debit Card
    Withdrawal OptionsWire Transfer, Neteller, Moneybookers, Webmoney, Skrill, PayPal, Debit Card, iDeal, Klarna, Sofort, Przelewy
    Time to Withdrawal2
    Time to Open an Account9
    Crypto
    Ethereum, Bitcoin, Litecoin, Bitcoin Cash, Ripple, Dash, Zcash, Ethereum Classic, NEO, TRON, Cardano, Stellar, EOS, IOTA
    Products
    Currencies, Stocks, ETFs, Crypto, Indices, Commodities
    Demo AccountYes
    OCO OrdersYes
    Offers HedgingYes
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossNo
    Guaranteed Limit OrdersNo
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorNo
    Social TradingYes
    AutochartistNo
    Trading SignalsNo
    Platform Languages
    Multi-lingual
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsYes
    Deposit FeeNo
    Withdrawal FeeYes
    Inactivity FeeYes

    About the Author

    Plamen StoyanovBroker Analyst

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

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