eToro is a well-established online broker with more than 20 million customers (January 2022) and thousands of CFDs and stocks across multiple markets. The broker has made a name for itself for offering the world’s most advanced copy and social trading platform that connects traders from all over the world.
- Fully licenses in several jurisdictions
- Top-tier copy trading features
- A social trading platform where you can exchange information with other traders
- Has high fees and spread
- $200 minimum deposit
eToro – Who Are They?
eToro was founded as RetailFX in 2007 and since 2010 they’ve been focusing on copy and social trading features. In 2020, the company was valued at $2.5 billion, having tripled its value in only three years.
In the last couple of years, eToro has extended its services across the globe and today they are licensed by CySEC in Europe, the FCA in the UK, FinCEN in the U.S., and ASIC in Australia. This makes eToro one of the biggest brokers in the world, as well as one of the most well-regulated.
The one thing that makes eToro unique is its groundbreaking copy trading features and a social trading network. It allows traders to copy successful traders and learn from their strategies, it also lets you connect and share information and tips with all other eToro users.
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Our Opinion About eToro
According to our research as well as the review of almost 100,000 eToro users, this is a great broker. When trading with eToro, you’ll have access to thousands of CFD markets. However, recently, eToro has started incorporating real stocks as well as cryptocurrencies, making it a varied experience.
Add the fact that eToro is also available as a forex broker in the United States – which is no easy feat – and it becomes clear that eToro manages to live up to the strict legal requirements of financial markets all over the world.
Naturally, this means that we do recommend eToro to all our visitors. But that doesn’t mean eToro is the perfect fit for you. Before you decide whether eToro is a good choice, we suggest you check out our broker comparisons and top lists.
I really like that eToro offers traders a lot of fast and free payment methods
I will try this broker
Beginners looking for a broker can check out Forex.com and eToro. They are really popular and have good trading conditions. eToro customer support of both these brokers is really good. It is a trader-friendly broker. Trade execution over Forex.com is fast. Withdrawals and deposits with these brokers are quite fast and seamless
Where is eToro based?
eToro is headquartered in Israel, but traders are served from regulated entities in Cyprus, the UK, Australia, and the US.
eToro is the better company out there today
the accounts are very easy to open, customer service really helps people
Agree! Also, eToro is very reliable and regulated in multiple countries.
I have been trading with etoro for more than 6 months. Not just myself, but my friends have all been trading with this broker. All is great!
As a multi-asset broker, eToro goes above and beyond to make the experience smooth for traders. I really like it! eToro provides the ability to select between CFDs versus trading the underlying asset directly from the trade-ticket window. It is very useful. I can say that eToro is best for cryptocurrency traders and copy trading.
Etoro is a nice beginner-friendly platform but be aware that the fees are expensive and the platform is restrictive. You can use any broker with MT4. When you open an account, they will email you with the same login details.
In my opinion, eToro is a reliable company to trade. I have never had any problems making deposits or withdrawals, the customer service team is professional and quick. The tools eToro provides to make the best out of your investments are good.
You can start with a virtual account and play around for a while. If you’re not sure after that and still want to continue, make a small deposit of $200 and see what it can bring you.
Now, eToro has some pros and cons. It is worth using if you educate yourself first. Otherwise, you probably won’t make money.
eToro’s Pros:
Commission-free ETFs and stocks trading in Europe
Leader in the social trading field
Slick, modern, easy to use
Wide product portfolio – from stocks to cryptos, commodities, forex, ETFs, etc.
Innovative products like Copyportfolios or Copy People
eToro’s Cons:
Offers primarily CFDs, which are high-risk instruments and with no asset ownership. Be careful when leveraging your positions, because you are no longer investing in stocks (with free trading), but CFDs, and paying spreads!!
Only USD, so if you deposit EUR, you will pay very high currency conversion fees. Try depositing with USD, using low-cost currency conversion services like Revolut or Transferwise.
Many newbie traders – be careful when copying these traders.
I like this broker because it is secure and comfortable. Etoro is a legit company with license and regulation, they have 24/5 support – quick one and responsive. Few things to take in mind, people that do not know how to calculate the spread and use leverage will use their money very fast! Learn how to do it and use a demo account first, play with it and always use stop lose and take profit.
Never use the copy system if you have no clue how to trade yourself!
In my experience, having the support of the right broker at the beginning of your trading journey can prove to be very helpful in avoiding the major trading risks. When I started my trading with a small account, I did a lot of research and chose some effective small account brokers which include eToro, FxView, FXCM, and IG and these Forex brokers were actually of great help to me. When I was not able to understand the market changes, it was these Forex brokers that helped me make the right decisions so that I could trade safely.