eToro: Best Copy Trading Platform

Commission range Low, zero commission
Trading Portfolio CFD, Crypto, Forex, Fx
Regulation Fully regulated by several financial authorities
Trading Platform & Apps Mt4, Mt5, Webtrader, Android, IOS
Education Quality FAQ, Video, webinar
Category:

With about 1900 Stocks CFDs & 47 currency pairs, eToro is one of the best copy trading platforms for beginners and Pros. It is regulated in Australia, Cyprus, and UK financial authorities.

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You will get: Free commission stocks is available in EU countries ETF trading is available in the EU Registration & account opening process is very easy Copy Trading & Social Trading is Available Offers Basic Fundamental Data

The Best Copy Trading Platform in 2021

Best Copy Trading Broker for beginners?

8.7Expert Score
eToro: Best Copy Trading Platform
eToro Review
With about 1900 Stocks CFDs & 47 currency pairs, eToro is one of the best copy trading platforms for beginners and Pros. It is regulated in Australia, Cyprus, and UK financial authorities. eToro offers Copy Trading, Social Trading to all traders. Beside charging zero commission, you will have access to basic Fundamental Data and comprehensive technical analysis tools, and charts.
Trading Platform
9
Commission
10
Research & Tools
9
Education
8.5
Investor Protection
9
Customer Support
7.5
PROS
  • Free commission stocks is available in EU countries
  • ETF trading is available in the EU
  • Registration & account opening process is very easy
  • Copy Trading & Social Trading is Available
  • Offers Basic Fundamental Data
CONS
  • It charges high forex trading fees
  • You can only hold one account base currency
  • Withdrawal is not free. It costs $5 per withdraw.

What we've covered in this review:
10Expert Score
Regulation Score

The broker is fully regulated. We have also checked it against scam and fraud.

What are eToro Pros & cons?

eToro is a leading copy trading platform

Undoubtedly, eToro is one of the best forex trading platforms and very well known brokerage company for copy traders all over the world.

It was not that long ago, in fact, it was 2007 where they started as a fin-tech Israel base startup and managed to grow their portfolio and become a regulated online broker that is regulated by:

  1. ASIC in Australia,
  2. Cyprus
  3. UK

You can open your trading accounts using these quick links:

Open Demo Trading Account with eToro:

Open Crypto Trading Account with eToro

These are the regulation authorities: the Financial Conduct Authority (FCA), Investment Commission (ASIC), and (GySEC) also known as the Cyprus Securities and Exchange Commission.

eToro is not publicly listed on any stock exchange but offers different brokerage services that we will discuss in detail, but in short, the trading portfolio of this brokerage firm is mainly around Stocks, ETF, Forex, CFD, and Cryptocurrencies. After careful evaluation and running multiple comparison scenarios with other top brokers in the world, our editorial team rated eToro as you see below:

There are different revenue streams when you want to explore how much forex brokers make money. eToro, just like AvaTrade which is the best commission-free broker, offers stock trading and ETFs to European citizens and charges very low commissions for traders who reside outside Europe.

When buying or selling stocks through certain brokers, you might be tricked to pay a dealing fee Or a quarterly management fee When we talk about zero commission brokers, it means that you are not charged any additional fees.

The flip side of the coin is eToro’s slow and not-free withdrawal process.
You will be charged $5 fee for every withdrawal and the minimum amount limit is $50. So if you plan to withdraw small amounts or go through other channels. eToro is one of those rare brokers that accept PayPal to deposit fund to your account. Remember, there is a chance that you will be losing money when trading leveraged products.

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eToro: Best Copy Trading Platform
Deal
With about 1900 Stocks CFDs & 47 currency pairs, eToro is one of the best copy trading platforms for beginners and Pros. It is regulated in Australia, Cyprus, and UK financial authorities.
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8.5Expert Score
Trading Fees Score

There is $10 Inactivity fee, yet the CFD fees are fair.

Best Forex Brokers for Copy Trading

How much is eToro fees, commissions for Copy Trading?

Sometimes traders ask questions like: “Is eToro a safe Copy Trading broker?” or “should I use other online brokers likeZulu Trade and FXTM?“.
Well, it all depends on your trading portfolio and the traders that you will follow.

How much is eToro fees? It depends on whether you are asking about low trading fees of cryptocurrencies trading or non trading fees like portfolio management fees. Generally, being able to change the default leverage is of importance to many professional traders. With eToro You Are Allowed to change the leverage when trading with this brokerage platform.

eToro fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into spread and as follows:

✓ For S&P 500 CFD the fee is 0.75 average spread cost, which is considered to be low.
✓ The Fees for Europe 50 CFD, and Euro-USD is 3 average spread cost, which is considered low.
✓ You will be charged $10 extra per month after one year of inactivity.

eToro absorbs Stamp Duty and Financial Transaction Tax for certain clients, that means you might be saving additional fees. The Structure is like “of 0.5% in the UK, 1% in Ireland, 0.3% in France, and 0.1% in Italy”.

TIP: In reality it can take up to 2 business days to withdraw your money via bank transfer.

Let’s have a closer look at overall eToro Trading fees and look at the comparison table that illustrates the differences between eToro and other popular online brokers.

The Scenario is as follows:
Let’s say you will perform a typical trade which means buying a leveraged position, holding it for 7 days and only sell it after that period.

* Volume: a $2,000 position for:
1) The stock Index
2) CFD
3) Forex transactions.

The leverage in these scenarios is:
• 20:1 stock index CFDs
• 5:1 CFD
• 30:1 forex

Below you can see the difference between two other top online brokerage companies that we compared with eToro: Markets.com review and Plus500 Review

Compare eToro Alternatives

What are the best eToro alternatives, their Fees and commissions

CFD ScenarioeToroPlus500MarketsX
S&P 500 index CFD fee$2.4$2.1$2.6
Europe 50 index CFD fee$2.7$1.3$2.5
Apple CFD fee$6.3$8.9$6.4
Vodafone CFD fee$7.6$6.7

Stock ScenarioeToroPlus500MarketsX
US Stocks$0.0$15$10
UK Stocks$0.0$9.6$10
German Stocks$0.0$11$8.8

Benchmark FeeeToroPlus500MarketsX
EURUSD$19.6$17.9$24.5
GBPUSD$16.2$14$25
AUDUSD$12.4$12.6$25.1
EURCHF$11.8$9$22.1
EURGBP$19.9$14.6$20.5

“Illustrative prices”

To choose the right broker you must know more about Trading Fees & Non Trading Fees. Whether they charge you based on trades, transaction volume, commissions, spreads, or hedging strategies, you should be aware of the other fees that an online broker might charge you. (‘Plus500 does not offer hedging orders’)

Generally speaking, brokers charges traders different fees. Number one is a fee when you perform any trade on their trading platform. This is called “Trading Fees” and appear in forms of:

  • Commissions
  • Spreads
  • Financial Rates
  • Conversion Fees

Some brokers also charge you “Non-trading fees” such as withdrawal fees, deposit fees, and inactivity fees. :
These charges are not related to what currency, share, CFD or options you trade.

eToro operates in the majority of countries and accepts traders from more than 90% of countries and normally approves your account within one business day. Obviously, your demo account is accessible instantly and you can learn trading with $100K demo credit.

The minimum deposit is $200 unless you meet the following criteria:

• For Israel citizens, the deposit base is $10,000.
• For Australian and USA citizens, the first-time deposit is $50.
• the price is $500 for residents of Russia, China, Hong Kong, Taiwan and Macau.

To start trading eToro does not charge any deposit fees. You ought to remember that in order to deposit money you have to use funding sources that are in your own name, not anyone else.

8.5Expert Score
Trading App Score

When trading with FXTM, you can enjoy the power of MT4.

Best Copy Trading Platforms in 2021

What is the best copy trading App in 2021?
Is Copy Trading a good practice?​

Let’s start with the negative point; So, eToro online trading platform is not available for desktop traders.

On the contrary, eToro promises good user-experience for trading and copy trade through its mobile trading app, and web trading platform. The User-interface & User-experience of eToro platform is unique and user-friendly.

If you want to trade on to go, you can easily install eToro’s top mobile trading platform on your android and IOS device. This way, you can enjoy receiving push notifications that inform you about traders and market positions, and easily trade using enhanced touch experience by simply swiping right or left.

From security perspective, you can add protect your account by configuring two-step authentication and improve your login profile’s security.

Trading with eToro platform looks like this:

You are good to go if you wish to change the eToro trading platform’s language to any of the following languages:

أفضل وسطاء الفوركس in Arabic Bulgarian Chinese Croatian Czech Danish Dutch, Estonian Finnish French beste forex broker in German Greek Hebrew Hindi Hungarian broker cfd terbaik in Indonesian migliori broker cfd in Italian Japanese Korean Latvian Lithuanian Malay Mongolian Persian Polish melhores corretoras de forex Portuguese in brazil Romanian Russian Serbian Slovak Slovenian Spanish bästa cfd-mäklare i Sverige in Swedish Tajik Thai Traditional Chinese Turkish Ukrainian Uzbek Vietnamese.

How to open PAMM account?

What is automated copy trading?
What broker offers the best PAMM Account?​​

You can expect a very smooth and user-friendly process to open your trading account on eToro. You will be guided throughout the process, so to trade in today’s financial markets, all you need is an email or a social platform login to begin with. Here are 5 steps to open your account on eToro platform.

Step 1: Register using eToro account application form
Step 2: Agree to terms and conditions
Step 3: Verify your account
Step 4: Deposit funds to your account or begin using your demo account
Step 5: As part of the KYC process, you’d be requested to provide government issued documents such as passport. Then you will get your account opened in 1 day.

The response time of eToro customer support team was much better before Covid-19. These days it might take up to a week to respond to your emails. However, we encourage you to use their live chat if you wish to talk to someone and get a quick response to your questions.

7Expert Score
Trading Instruments

Most of trading instruments and products are CFDs. The portfolio is not that comprehensive.

Can You Make Money by Copy Trading?

What can you trade with eToro?

All Forex instruments, and CFD contracts that you can copy trade very much  depends on your trading strategy, the options that are available to you at eToro are as follows:

  • CFD
  • Forex
  • Real Stocks
  • ETFs
  • Crypto Currency
  • Social Trading
  • CopyPortfolio
  • CopyTrade
 

What is Copy Trading?

Is Copy Trading Legal?

CopyTrader allows you to follow other well-known trader’s strategy and see their trading history on a weekly basis, average holding time, and also their performance on charts. In fact, you can copy up to 100 traders’ portfolio all at once and browse through their portfolio.

Good thing is that you can easily check their previous performance (Both yearly and monthly), and review a trader’s risk score that eToro assigns to their account.
Tip: Min investment per trade is $200 and Max is Half a million.

What can you trade on eToro?

What broker is best to copy trade?

Currency Pairs

47

Stock Index CFD

13

Stock CFDs

1900

ETF CFDs

145

Commodity CFDs

6

Bond CFDs

0

Future CFDs

0

Crypto

17
 
 
9Expert Score
Tools & Education Score

Although the minimum deposit seems high, the tools & materials are fair and good for beginners

​How to copy other traders?

How good is eToro Research Tools & Education?

All copy trading platforms should provide a list of their best strategy manager. You can do your market research and choose the copy strategy manager that matches your risk tolerance. 

First you need to open your copy trading account. here is a list of top copy traders on eToro:

Market research is one of the great features that is at your disposal when trading with eToro. The investment protection that eToro offers is £85,000 for UK residents, €20,000 for non-UK residents.

Does eToro offer Fundamental Data? Yes, Basic information is available.

You can also set alerts and receive notifications on eToro. For instance, your price alert can be configured for times that your preferred asset reaches a certain price range.

This way you will be notified based on the trigger that you’ve configured. The charts and charting feature is pretty good. It saves automatically and let you play around with around 70 indicators.

For instance, only for a limited number of well-known products, there are recommendations such as hedge fund and insider trading sentiment, or (buy/hold/sell) also known as analyst consensus, and average price target analysis.

Whether you need to work with your charts, or see the list of assets, portfolio, and trading history, you can easily generate the reports and track the performance of your trading portfolio.

It’s also easy to see a structured cash flow and other financial fees in your dashboard. Once you opened your account you may follow this path:

  • Navigate to portfolio
  • Then go to history tab
  • Access your account statement
 

How Do I Find the Best Copy Trading Brokers in UK?

What are the best Copy trading in UK?

AvaTrade uses a 3rd party system called DupliTrade and eToro, as one of the best copy trading brokers, has built its own copy trader platform. They are both available in UK.

As for education, if you are a beginner trader you may find plenty of articles on our trading & Investment blog, and choose the right broker.

Some believe that eToro education materials are not that comprehensive.
We think otherwise, let us explain why and hear our point of view.

  1. eToro offers webinars and go through platform features.
  2. Additionally, you can listen to podcast and audios to follow with your preferred topic.
  3. If you are in London, you can attend their classroom instructor-led trading. In that class apart from
  4. eToro platform, you’ll get a crash course on online trading.
  5. You will get a demo account and sufficient balance to practice.
  6. eToro learning lab has plenty of recorded videos that walks a beginner through A-Z of trading.

Well, if That’s not enough, then what is?

Best eToro Alternatives

What are the alternatives for eToro

We have selected 4 brokerage companies based on their portfolio and trading platforms to compare with eToro. You cam compare eToro Vs IG, or Plus500, Markets.com, and AvaTrade.

 

Conclusion: A Complete Guide to Social Trading & Copy Trading

How does CopyTrader work?
4.5/5

Copy trading, Portfolio trading or trading other experienced trader’s strategy is a safeguirded investment and trading strategy where you choose a trader and invest in their PAMM account and let them trade and charge you commissions for their successful results and positive returns.

It’s also sometimes called social trading or mirror trading which is part of automated trading strategies.

After reading the review if you still need to know whether you should social consider trading with this copy trading broker or find alternatives to eToro?

All of those questions are fair, so let’s summarise it.

Open Demo Trading Account with eToro:

Open Crypto Trading Account with eToro

We believe eToro is a good copytrader broker, here is why:

 In a nutshell, eToro is one of the top regulated forex brokers that keeps innovating their services. It’s also listed as one of the top 10 no commission brokers.

When it comes to online trading, brokers that offer decent customer support are more favoured by online traders.
As a market leader and best broker for social trading, eToro’s support team responds fast if you use their live chat service, but you may get stock for up to 7 days when asking for help via email.

With around 47 currency pairs and 1900 Stocks CFDs, you can confidently trade CFD and Forex with eToro. It’s worth opening your account and giving it a shot.

eToro: Best Copy Trading Platform
Deal
With about 1900 Stocks CFDs & 47 currency pairs, eToro is one of the best copy trading platforms for beginners and Pros. It is regulated in Australia, Cyprus, and UK financial authorities.

Yes, This broker is regulated by Australia and UK regulation authorities :

The Financial Conduct Authority (FCA) and Investment Commission (ASIC).

Follow these steps to learn how to open trading account:

1. Get ready with your email address
2. Select the country of residency.
3. Provide demographic data
4. Choose your preferred online trading platform
5. Select your account type & base currency.
6. Explain your trading experience and provide employment history
7. Provide identity and residency proof for activation.

The minimum deposit is $200.

  • Free commission stocks is available in EU countries
  • ETF trading is available in the EU
  • Registration & account opening process is very easy
  • Copy Trading & Social Trading is Available
  • Offers Basic Fundamental Data

XM
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eToro: Best Copy Trading Platform
eToro: Best Copy Trading Platform

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