eToro Review: eToro broker is a well-established name for social trading and investment, and has gained a reputation for its user-friendly interface, extensive range of features, and wide range of financial instruments. In this eToro reviews article, we will take an in-depth look at the platform and its features, including its social trading capabilities, copy trading features, and the different asset classes available.
We will also discuss the fees and commissions associated with using eToro, and the customer support options available. Additionally, we’ll take a closer look at the safety and regulatory measures in place on eToro, as well as the mobile app, to help you decide if eToro is the right choice for your investment needs.
Table of Contents
About eToro Review:
Etoro is one of the best forex trading brokers for copy trading and a global leader in the field of social trading and investment. Founded in 2007, it has since grown to become one of the most popular and widely used platforms in the industry. The eToro platform offers a wide range of features, including social trading, copy trading, and a user-friendly interface. Overall, this review will provide a comprehensive analysis of the eToro platform’s social features and active community and whether it is the right choice for your investment needs. eToro has over 14 million registered users worldwide, and offers more than 1,500 different financial instruments for trading.
Discover the ins and outs of eToro, the leading social trading platform. Learn about its user-friendly interface, social trading capabilities, copy trading features, and wide range of financial instruments. Read about the fees, regulations, customer support and educational resources. Compare eToro to other social trading platforms and decide if it’s the right choice for your investment needs
| Pros | Cons |
|---|---|
| User-friendly interface | Limited range of research tools |
| Social trading capabilities | Higher fees than some competitors |
| Copy trading feature | Limited leverage options |
| Wide range of financial instruments | Limited educational resources |
| Available as a mobile app | Limited customer service hours |
| Regulated by multiple authorities | No Options trading |
| Popular Investor program | No phone support |
| Virtual trading available | Limited scalping opportunities |
| CopyPortfolio & CopyFunds | |
| AI-based trading feature |
A list of the top features of eToro
- Social Trading Capabilities: Allows users to interact with other traders and copy the trades of successful traders on the platform [1]
- Copy Trading Features: Allows users to allocate funds to copy the moves of Popular Investors
- User-Friendly Interface: Easy to use and navigate with a friendly interface.
- Low Fees: Low fees compared to other cryptocurrency trading platforms.
- Market Analysis Tools: Variety of market analysis tools to aid in trading decisions.
- Trading Platform: eToro’s platform offers a user-friendly and intuitive platform that is well-suited to traders of all levels. The platform features advanced charting tools, real-time market data, and an extensive range of assets to trade.
- Research and Analysis: eToro provides a range of market analysis and insights, helping traders to make more informed decisions.
- Regulatory Compliance: eToro’s regulated by the Cyprus Securities and Exchange Commission, ensuring that all trades are conducted in a secure and compliant environment.
- Trading Tools: eToro offers a variety of trading tools and features, including copy trading, copy portfolio, and copy trading portfolio.
- Mobile Trading platform, allowing users to stay connected and keep up with the markets on the go.
- Customer Support services via email, phone, and live chat, ensuring that users can get assistance when needed.
- Education Center: eToro has an extensive education center, providing a range of resources to help traders improve their knowledge and skills.
- Rating: eToro’s ranking and rates are currently a 4.7/5 star rating
Account Type Reviews:
eToro is a social trading platform that allows users to interact with each other and share ideas in order to make smarter trading decisions. On eToro, users can open and manage different types of accounts, each with their own unique features and benefits. Below is a list of eToro’s different account types:
- Demo Account – This is a practice account where users can familiarize themselves with eToro’s trading platforms and test your trading plan and strategies before investing real money.
- Standard Account – This is the basic account type, which requires a minimum deposit of $200.
- Islamic Account – This is a special account type designed for traders who follow Sharia Law.
- Gold Account – This requires a minimum deposit of $2,000, and offers additional features such as higher level of customer support and a personal account manager.
- Platinum Account – This requires a minimum deposit of $20,000, and offers additional features such as priority withdrawals, higher leverage and free trading signals.
- VIP Account – This requires a minimum deposit of $50,000, and offers additional features such as exclusive access to VIP tournaments, higher leverage and exclusive trading signals.
- The most basic account type is the Demo Account. This is a practice account and is available to all users for free. It’s a great way to learn how to use eToro’s platform and to practice trading strategies without risking real money.
- The Real Account is the most popular account type. It’s a live account that allows users to invest real money and start trading on the platform. With a Real Account, users can access the full range of features available on eToro, including copy trading, copy portfolio, and more.
- The Professional Account is a step above the Real Account, offering exclusive features and benefits to experienced traders. To open a Professional Account, users must meet certain criteria, including having a minimum balance of $2,000 and having enough trading experience. Professional Accounts have access to advanced risk management features such as leverage and margin, as well as access to eToro’s more sophisticated trading tools and features.
eToro’s Fees:
eToro is a commission-free trading platform, which means that there are no fees associated with purchasing or selling stocks and ETFs. However, there are some other fees associated with using eToro, including:
- Spread fee: When trading stocks and ETFs, eToro charges a spread fee, which is the difference between the buying and selling price. The spread fee is typically a percentage of the total transaction cost.
- Inactivity fee: If a user does not log in to their eToro account for 12 months or more, they may be charged a monthly inactivity fee. The inactivity fee is currently set at $10 per month.
- Overnight fee: Also referred to as the “rollover fee”, this fee is charged when a user holds a CFD position overnight. The overnight fee is typically a percentage of the total position size.
- Deposit and withdrawal fees: eToro charges a fee for deposits and withdrawals, depending on the payment method chosen.
- Currency conversion fee: eToro charges a currency conversion fee when a user find currency pairs to trade in a currency other than their account’s base currency. The currency conversion fee is typically a percentage of the transaction amount.
eToro Trading Platform:
The eToro trading platform is a popular choice among traders of all experience levels, thanks to its user-friendly interface, extensive range of features, and wide range of financial instruments. Some of the most notable features of the eToro platform include the web platform, Mobile trading app, Copy portfolio, copy trading, and social trading, which can be used for Forex, CFD, Cryptocurrencies, and other financial assets.
eToro does not use MetaTrader and is not an MT4 broker. eToro offers its own proprietary trading platform, which is designed to be user-friendly and intuitive. This platform offers clients access to a wide range of markets and features, including copy trading and social trading. eToro also offers a selection of web trading and mobile trading apps, allowing clients to trade on the go.
- Web based trading platform: eToro’s web-based trading platform is accessible through a web browser and offers a wide range of features, including social trading, copy trading, and a user-friendly interface.
- Mobile App: eToro also offers a mobile app that allows traders to access the platform and manage their account on the go. It is available for both iOS and Android devices.
- CopyPortfolio: eToro’s CopyPortfolio is a feature that allows users to invest in a diversified portfolio of assets managed by eToro’s investment committee.
- CopyTrader: eToro’s CopyTrader feature allows users to automatically copy the trades of other traders on the platform.
- Virtual Trading: eToro offers virtual trading, which allows users to practice trading with virtual money before they start trading with real money.
- CopyFunds: eToro’s CopyFunds feature allows users to invest in a diversified portfolio of assets, managed by eToro’s investment committee, that is tailored to a specific market or strategy.
- Social trading: eToro’s social trading feature allows users to connect with other traders, follow their trades, and learn from their strategies.
- Robo-Advisory: eToro’s best Robo-advisory service is a feature that allows users to invest in a diversified portfolio of assets, managed by eToro’s investment committee, that is tailored to the user’s risk profile.
- AI-based trading: eToro’s AI-based trading feature, CopyTrader AI, allows users to copy the trades of other traders on the platform based on the trader’s past performance, risk management, and sentiment analysis.
- Crypto Trading – Users can buy, sell, and trade cryptocurrencies on the eToro platform.
- CFD Trading – Most popular CFD trading platforms like etoro allows users to speculate on the price movements of various financial instruments without actually owning the underlying asset.
- FX Trading – FX trading allows users to trade financial instruments such as currencies on the eToro platform. You can find the list of fx brokers in the US and canadian currency brokers here.
- Stocks vs ETFs – eToro offers a wide range of stocks and ETFs for trading on the platform.
- Investing and Trading – eToro provides both investing and trading capabilities for a range of financial instruments.
Social Trading:
One of the most unique features of eToro is its social trading capabilities. This allows users to follow and copy the trades of other successful traders, which can be especially beneficial for beginners who are still learning the ropes. With eToro’s social trading feature, users can see the real-time performance of other traders, their trading strategies, and even communicate with them.
eToro’s social trading feature is built on a network of traders, where users can follow and copy the trades of other traders, as well as communicate with them through a built-in messaging system. This allows users to build a network of traders that they can learn from and potentially replicate their success. The platform also allows users to see the performance of other traders over time, which can provide valuable insights into their trading strategies and risk management practices.
Best Social Trading Brokers:
Below is a table of the top brokers for social trading, including eToro, Pepperstone, FXCM, IC Markets, and 4 more. It includes information about their features and benefits:
| Best Social Trading Brokers | Features | Benefits |
|---|---|---|
| eToro | Copy Trading, Social Trading, and CopyPortfolios | Low Spreads, Commission-Free Trading, and Easy-to-Use Platform |
| Pepperstone | MT4 & MT5 Platforms, Advanced Charting, and Low Spreads | Advanced Trading Tools, Low Fees, and Reliable Execution |
| FXCM | Low Spreads and Online Trading Platform | Dedicated Support, Regulated Broker, and Leverage of up to 400:1 |
| IC Markets | MetaTrader 4 & 5 Platforms, Low Spreads and Commission, and Expert Advisors | Fast Execution, Reliable Support, and Low Fees |
| AvaTrade | Variety of Trading Platforms, Low Spreads, and Expert Advisors | Negative Balance Protection, Range of Trading Instruments, and 24/7 Support |
| Roboforex | MT4 & MT5 Platforms, Low Spreads and Commission, and Expert Advisors |
The social trading feature on eToro is not just limited to copying other traders’ trades, but also allows users to share their own trades and strategies with the community. This can be a great way for traders to share their knowledge and experience with others and to learn from the community.
With eToro, users can follow and copy the trades of other traders, allowing them to benefit from the experience of the more experienced investors. Additionally, users can access the eToro’s social trading network [1], which provides insights into the market sentiment and allows users to discuss their trades and strategies with other traders. eToro also provides a wide range of tools and features, such as a wide range of tradeable assets, competitive spreads, low fees, and more.
Copy Trading:
Building on the social trading feature, eToro also offers copy trading, which allows users to automatically copy the trades of other traders. This can be an effective way to diversify your portfolio and potentially improve your returns.
Copy trading is a feature offered by eToro that allows traders to automatically copy the trades of other successful traders on the platform. This can be especially beneficial for beginner traders who are still learning the ropes and looking for ways to improve their returns. With copy trading, you can choose to follow and copy the trades of experienced traders, and their trades will be automatically executed on your account, without you having to do anything.
One of the key benefits of copy trading is that it allows you to learn from experienced traders and potentially replicate their success. By following and copying the trades of multiple traders, you can reduce your risk and diversify your portfolio. Additionally, copy trading allows you to gain exposure to different markets and asset classes, which can help to diversify your portfolio and potentially improve your returns.
Best Copy Trading Brokers:
Here is the list of best copy trading brokers such as etoro, Pepperstone, FXCM, IC Markets, AvaTrade, Alpari
| Best Copy Trading Brokers | Ratings | Benefits |
|---|---|---|
| eToro | 4.5/5 | Customizable portfolio, 24/7 customer support |
| Plus500 | 4.2/5 | Advanced charting tools, low minimum deposit |
| Markets.com | 4.4/5 | 24/7 customer support, advanced trading tools |
| AvaTrade | 4.8/5 | Commission-free trading, free demo account |
| Alpari | 4.3/5 | Automated trading, tight spreads |
| City Index | 4.1/5 | Low minimum deposit, 24/7 customer support |
| FXCM | 4.7/5 |
Copy trading with eToro is a simple and easy process, all you have to do is to find a trader you want to copy, and click on the “copy” button, then you can set the amount of money you want to invest and the stop-loss level, and the system will automatically execute the trades on your account, while also allowing other traders to learn from their forex trading strategies for beginners and experience.
eToro’s trading platform is also available as a mobile app, which allows you to trade and manage your account on the go. The app is available for both iOS and Android devices, and offers most of the features available on the web-based platform.
Overall, the eToro trading platform is a versatile and feature-rich option that can be suitable for both beginners and experienced traders. Its user-friendly interface, social trading and copy trading features, and wide range of financial instruments make it a popular choice among traders worldwide. Additionally, its mobile app version offers the same features and functionality as the web-based platform, making it accessible for traders on the go.
Financial Instruments:
eToro offers a wide range of financial instruments, including stocks, ETFs, cryptocurrencies, commodities, and more. This allows traders to diversify their portfolios and take advantage of different market conditions.
eToro’s financial instruments can be traded with leverage up to 1:5. The table below provides an overview of the popular instruments available on eToro and the corresponding leverage levels:
| Instrument | Leverage |
|---|---|
| Forex | 1:30 |
| Shares | 1:5 |
| Indices | 1:5 |
| Commodities | 1:5 |
| ETFs | 1:5 |
| Cryptos | 1:2 |
Comparing Fees & Commissions
Here is a table comparing eToro’s fees and commissions to 10 popular brokers:
| Broker | Commission | Fees |
|---|---|---|
| eToro | Flat rate of $5 | Slightly higher than competitors |
| TD Ameritrade | $0 on stocks, ETFs and options | $25 transfer fee |
| Fidelity | $0 on stocks, ETFs and options | $0 for regular accounts, $2.95 for IRAs |
| Interactive Brokers Platforms | $.005 per share, $1.00 minimum | No account maintenance or inactivity fees |
| Robinhood | $0 on stocks, ETFs and options | No account maintenance fees |
| Charles Schwab | $0 on stocks, ETFs and options | No account maintenance or inactivity fees |
| E*Trade | $0 on stocks, ETFs and options | No account maintenance or inactivity fees |
| Merrill Edge | $0 on stocks, ETFs and options | $49.99 annual maintenance fee |
| Ally Invest | $0 | $9.95 options trades |
| TradeStation | $0 on stocks and ETFs | $5 |
Below is a table comparing eToro’s fees and commissions to 10 popular CFD trading brokers.
| Broker | Trading Fees | Commissions |
|---|---|---|
| eToro | $0 | $0 |
| XTB | Variable | Variable |
| Plus500 | Variable | Variable |
| City Index | Variable | Variable |
| AvaTrade | Variable | Variable |
| IG | Variable | Variable |
| FXCM | Variable | Variable |
| OANDA | Variable | Variable |
| Forex.com | Variable | Variable |
| Capital.com | Variable | Variable |
Here is a table comparing eToro’s fees and commissions to 10 popular forex trading brokers:
| Broker | Fees | Commissions |
|---|---|---|
| eToro | 0.09% | $5 flat fee |
| Plus500 | 0.09% | $10 flat fee |
| FXCM Trading Platform | 0.07% | $0 |
| Oanda | 0.05% | $0 |
| XM | 0.04% | $5 flat fee |
| Pepperstone Web Trading Platform | 0.08% | $7 flat fee |
| FxPro | 0.04% | $45 flat fee |
| AvaTrade Mobile App Trading | 0.04% | $0 |
| IG | 0.08% | $10 flat fee |
| CityIndex | 0.03% | $7 flat fee |
A comparison table of eToro’s fees and commissions to 10 popular crypto trading brokers is provided below for your reference:
| Broker | Trading Fee | Withdrawal Fee | Inactivity Fee |
|---|---|---|---|
| eToro | 0.75% | 0.1% | None |
| Robinhood Stocks | No Fee | No Fee | No Fee |
| Coinbase | 0.50% | 3.99% | None |
| Kraken | 0.26% | 0.0005 BTC | None |
| Binance | 0.10% | 0.0005 BTC | None |
| Bitfinex | 0.20% | 0.0008 BTC | None |
| Bitstamp | 0.25% | 0.0005 BTC | None |
| Gemini | 0.25% | 0.001 BTC | None |
| Cex.io | 0.25% | 0.001 BTC | None |
| KuCoin | 0.10% | 0.001 BTC | None |
Here is a table comparing eToro’s fees and commissions to 10 popular copy trading brokers:
| Broker | Commission | Non-Trading Fees |
|---|---|---|
| eToro | 0 | $5 Withdrawal Fee |
| Robinhood | 0 | N/A |
| Webull | 0 | $75 ACAT Fee |
| TD Ameritrade | 0 | $75 ACAT Fee |
| Fidelity | 0 | $75 ACAT Fee |
| Charles Schwab | 0 | $50 ACAT Fee |
| TradeStation | $5 per trade | $50 ACAT Fee |
| Interactive Brokers | $0.005 per share | $15 Inactivity Fee |
| E*TRADE | $6.95 per trade | $50 ACAT Fee |
| Merrill Edge | $6.95 per trade | $49.95 ACAT Fee |
| Ally Invest | $4.95 per trade | $50 ACAT Fee |
Deposits & Withdrawals
Depositing and withdrawing funds on eToro is a straightforward process. The available methods for depositing and withdrawing funds include bank transfer, debit/credit card, e-wallet, and other payment methods. When depositing funds on eToro, no fees are charged. However, when withdrawing funds, eToro charges a fee of $5 for all withdrawals. The process for depositing and withdrawing funds on eToro is as follows:
Follow these 5 steps for depositing Funds on eToro:
- Log in to your eToro account.
- Select ‘Deposit Funds’ from the menu.
- Choose your preferred payment method.
- Enter the amount you wish to deposit.
- Follow the instructions to complete the deposit.
To withdraw Funds you should follow these steps:
- Log in to your eToro account.
- Select ‘Withdraw Funds’ from the menu.
- Choose your preferred payment method.
- Enter the amount you wish to withdraw.
- Follow the instructions to complete the withdrawal.
- Note that a $5 withdrawal fee will be charged.
Here is the breakdown of eToro fees for deposit and withdrawal based on different payment methods:
| Payment Method | Deposit Fee | Withdrawal Fee |
|---|---|---|
| Credit Card | 0 | 0 |
| Debit Card | 0 | 0 |
| Bank Transfer | 0 | 0 |
| PayPal trading brokers | 0 | 0 |
| Skrill | 0.9% | 0.9% |
| Neteller | 0.5% | 0.5% |
| Cryptocurrency | 0 | 0 |
Education for new users:
eToro offers a range of educational resources, including market analysis tools, podcasts, research reports and more to help you be successful on the platform. Additionally, eToro provides access to a range of research tools, such as ProCharts, which is an advanced charting tool; a variety of technical indicators; and an economic calendar. Additionally, the platform allows users to access stock symbols and other market-related information.
Charting:
eToro offers a range of charting tools to help traders analyze and understand the markets they are trading in. These charts include line charts, bar charts, candlestick charts, Heikin-Ashi charts, Renko charts, Kagi charts, and more. eToro also offers drawing tools such as trend lines and Fibonacci retracements, as well as indicators such as Moving Averages, MACD, RSI, Stochastics, and more. These tools can be used to help traders identify potential trading opportunities.
Analysis & News:
eToro offers a range of tools and resources to help investors with their analysis. These include charting tools, market news and analysis, technical indicators, and trader performance ratings. They also provide users with the ability to copy the trades of successful traders [1], allowing them to benefit from the insights and strategies of experienced investors. Additionally, eToro offers a range of educational materials, such as tutorials and webinars, to help users learn more about the markets and develop their trading skills.
eToro does offer fundamental analysis data. They have a variety of research tools and data for users to access, including analyst recommendations and market sentiment indicators, as well as a comprehensive fundamental data section. There is also a variety of charting tools available for users to compare and analyze the fundamental data.
Where is eToro regulated?
eToro is regulated in several countries, including the United Kingdom, Cyprus, and Australia. In the United Kingdom, eToro is regulated by the Financial Conduct Authority (FCA). In Cyprus, it is regulated by the Cyprus Securities and Exchange Commission (CySEC). In Australia, it is regulated by the Australian Securities and Investments Commission (ASIC). Additionally, eToro has applied for listing of eToro common shares and eToro warrants on The Tel Aviv Stock Exchange [1], and is subject to regulations in other countries as well.
Does eToro offer mutual funds?
Yes, eToro offers mutual funds. Mutual funds are a type of investment product that pools the money of multiple investors and invests it in a range of assets. The assets can include stocks, bonds, and other securities. The fund manager will select the underlying assets and manage the fund, diversifying the investments to help reduce risk.
eToro’s mutual funds are typically composed of ETFs, which track the performance of a specific stock index or other investment assets. The funds are actively managed and investors can choose from a range of risk levels, depending on their needs and goals.
What are eToro alternatives?
The best alternatives to eToro in 2023 are Trading 212, MetaTrader 4, thinkorswim, Robinhood, Coinbase, Binance, Active Trader Pro, TCS BaNCS, E*Trade Web Platform, Finacle Treasury, and Slashdot.
There are also several alternatives to eToro for social trading, such as NAGA, AvaTrade, B2Broker, ZuluTrade, Forex Copier, CopyFundsTM, Pepperstone, CopyFX, and RoboForex. Each of these platforms offers its own unique features, so it is best to read their review using online trading platform comparison tols to see which one is the best fit for your needs.
What is the difference between Copy Vs Social Trading?
Copy trading and social trading are both forms of trading that involve copying the trades of other traders. The main difference between the two is that copy trading ties up your account with the account of another trader [1], and their trades are reflected in your account. In social trading, you can follow the trades of others, view their thoughts, and see their overall holdings, but you don’t actually copy their trades. Additionally, social trading allows for more discussion and exchanging of ideas, while copy trading is a more rigid and direct approach to trading.
How is eToro’s customer support?
eToro provides customer support through email, online chat, and telephone. For email support, customers can contact [email protected] For online chat, customers can log in to their eToro account and use the chat feature to ask questions or get help. For telephone support, customers can contact eToro’s customer service line at 1-888-271-8365. Additionally, customers can visit eToro’s website at [email protected] to find answers to commonly asked questions and access helpful resources.