Trade Broker ETORO.com Reviews

eToro is universally recognised as one of the best brokers in the world, particularly suitable for those interested in social and copy trading services. In general, for many investors eToro is perfect as a first broker, while the average high spreads, the prohibition of scalping, hedging and using EA, make eToro unsuitable for some specific categories of Day Trader.

eToro is ideal for those with slightly longer time frames, those interested in crypto or the commission-free stock market offered by the broker.

To try all these services, eToro makes available an unlimited demo account with $100,000 virtual, which is by no means a discounted offer. In fact, with a few simple steps, you can access the platform and see for yourself the costs, services, and overall experience offered by eToro.

FOUNDED	2006
BROKER TYPE	MM
TRADING PLATFORMS	eToro
ACCOUNT TYPES	Standart Account
LEVERAGE – retail	1:30
LEVERAGE – global / pro	1:400
SPREAD – standart account	From 1.0 pips
MINIMUM DEPOSIT	200$
MINIMUM TRADABLE VOLUME	0.01 Lot
DEPOSIT/FUNDING OPTIONS	Bank transfer, Credit/Debet card, Electronic wallet
WITHDRAW OPTIONS	Bank transfer, Credit/Debit card
SUPPORT	24/5
REGULATIONS	CySEC, MiFID, ASIC, FCA(UK), FinCEN

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Advantages

In terms of advantages, you can trade stocks and ETFs with zero commissions, and buy real cryptocurrencies as if you were on a specialised exchange.

In addition, you can open an unlimited demo account with eToro, totally free of charge and without obligation, great for practicing and testing all the information you’ll find in this article.

Minimum Deposit

– $200

Social Trading

– Well stocked

Copy Trading

– Easy to use

CFDs and Forex

– Over 1000 tradable assets

Stocks and ETFs

– eToro does not charge any commissions

– Buy as real, spreads from 0.75% on BTC

eToro Wallet (eToroX)

– Dedicated exchange with over 100 crypto assets

Disadvantages

– Capital too high compared to the reality of the classic user

Minimum Deposit

– You may incur slight conversion fees

Social Trading

– Presence of non-professionals

Copy Trading

– Above average but not excellent service

CFDs and Forex

– Average high spreads on some product types

– No commissions only for CySEC, FCA and ASIC users

– Very high spreads on some cryptocurrencies

eToro Wallet (eToroX)

– Very high fees for cryptocurrency transfers

Copy trader opinions

The broker is an excellent choice for both investors and copy traders, as the former can benefit from a commission-free service relying on the experience of experienced traders, while the latter (depending on the tier of membership) can not only earn commissions from followers, but be paid directly by eToro.

Besides the basic copyTrading functions, eToro also offers dozens of CopyPortfolios, i.e. baskets of assets that replicate stock indices, market trends, the portfolios of the biggest investors, and much more.

Nevertheless, eToro does have some problems in this respect. Experienced traders may find the lack of advanced copytrading tools limiting. Nonetheless, our opinion of eToro CopyTrading remains overwhelmingly positive.

Pros

No commissions
Low minimum investment for copy trading
Payments from eToro for those who are copied

CFD-Forex opinions

eToro offers a wide range of markets and assets, over 1000, making it a versatile broker. You can trade forex, commodities, indices, stocks, ETFs and cryptocurrencies as CFDs as well.

Spreads starting from 1 pip on Forex are in line with the industry average, however it is not uncommon to find brokers with spreads extremely lower than eToro. This factor, coupled with the fact that the broker does not allow techniques such as Hedging, Scalping and Algorithmic Trading, makes it unsuitable for advanced day traders such as scalpers.

The trading platform is user friendly and flexible, making it possible to manually change the display of orders in lots, USD, or contracts, depending on your preference.

Trading online with eToro is a good choice, as it balances some shortcomings with excellent additional services such as copy-trading, social trading, buying stocks, etfs and real cryptocurrencies.

Pros

Good range of markets
Good number of assets
Spreads in line with the market

Stocks and ETFs opinions

eToro allows you to buy real Stocks and ETFs, but without taking away the ability for investors to open CFD positions if they wish. CFD trades will not benefit from eToro’s Zero Commission policy, but if held long enough they can still receive dividends as if they owned the underlying asset.

eToro offers over 950 stocks and over 140 ETFs from 17 stock indices, which include not only the US Indices, but also 13 European stock exchanges. The stock market can be prohibitively expensive to enter, but eToro also provides fractional shares and etfs, which basically means you can invest in very expensive real stocks like Amazon from as little as $50.

However, it should be noted that not all stocks are tradable as real and commission-free. Also, the number of stocks and ETFs may be limited for those investors looking for extreme variety and lesser-known stocks.

Nevertheless, eToro remains an excellent compromise between a social trading broker and a multi-asset broker offering the classic stockbroking service.

Pros

Dividends
No commissions
Fractional shares
Even cfd’s give dividends

eToro comprises four main companies operating worldwide

In addition to being well regulated by some of the best authorities in the industry, eToro is also ESMA compliant and regulated in almost all European countries. Thanks to these all-encompassing regulations, eToro is available to traders from virtually all over the world, including the United States (albeit with some limitations due to local regulation).

Customers Not Accepted

Albania
Belarus
Bosnia and Herzegovina
Crimea
Serbia and Montenegro
Botswana
Burundi
Chad
Congo
Ethiopia
Guyana
Guinea
Guinea-Bissau
Guinea
Mali
Namibia
Congo, Democratic Republic of the
Somalia
Sudan
Uganda
Uganda
Palau
Samoa
Afghanistan
Brunei
North Korea
Japan
Iran
Myanmar
Turkey
Yemen
Canada
Cuba
Nicaragua

Account types

Demo Account
Standard account
Islamic Account
MAM/PAMM Account
Professional Account (eToro PRO)
eToro Club

Spreads and Commissions

Spreads on eToro are only offered as variable. The broker therefore does not offer fixed spread options. The spreads at eToro may seem a little higher than the competition. This is due to the strong copy trading infrastructure, which you as a trader can also benefit from.

Forex spreads usually start at around 1 pip on major currency pairs. That said, spreads between 2-4 pips are also quite common. eToro does not charge any commissions on trades.

Platforms and Mobile

The next important aspect to look at is the trading platforms available and how you can trade with devices, mobile or otherwise, on eToro.

Proprietary Platform (desktop platform)

To trade with eToro, you will only have one type of platform available -eToro Webtrader. This is their proprietary trading platform, which over the years has earned a reputation for being extremely intuitive and easy to use. The platform is well organized and you will find that compared to others, it takes much less time to get the hang of it.

Mobile

Forex trading from mobile devices is essential nowadays. Even in this respect, eToro’s proprietary mobile trading platform does not disappoint: it can be used from Android and iOS mobile and smart devices, although it is not available for smartwatches.