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Quick Summary
| Headquarters Location | International |
|---|---|
| Fiat Currencies Supported | USD, AUD, GBP, EUR |
| Total Supported Cryptocurrencies | 80+ |
| Trading Fees | 1% |
| Deposit Methods | Bank Transfer, Debit Card, Cryptocurrency, Paypal, Skrill, Neteller, WebMoney |
| Support | Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Founded by the Assia brothers, Ronen and Yoni, in collaboration with David Ring from Tel Aviv’s tech center, eToro was created to fulfill a need for more accessible and self-governing financial markets. Its services have since widened to encompass a multi-asset platform that offers numerous investment possibilities ranging from cryptocurrencies to options trading.
At the heart of its success is eToro’s CopyTrader function, which empowers novice users to replicate the investment strategies of seasoned traders. eToro also offers an easy-to-navigate interface and simplified trade operations to attract beginners eager to enter the world of investments alongside market makers.
The company has amassed an impressive user base that exceeds 25 million clients across over 140 nations worldwide. However, access is restricted in certain states in the U.S.
About eToro
Founded in 2007 to transform financial trading for every investor, eToro has since evolved into an international crypto exchange featuring a broad selection of assets, from cryptocurrencies and conventional stocks to ETFs.
The main reason for eToro’s success is its social investment platform, which has reshaped traditional approaches to trading and investing. With their secure and intuitive eToro wallet, clients have complete control over their portfolio management.
eToro’s network comprises global offices, which shows its broad-scale operations. Such a geographical presence offers peace of mind to eToro customers, who feel safe knowing they are backed by some of the world’s most esteemed financial companies.
eToro has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, TikTok and YouTube.
eToro has a mobile app on both the Apple App Store and Google Play.
eToro Supported Cryptocurrencies
eToro supports trading on over 80 cryptocurrencies on their platform. This exchange currently supports 15 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies eToro supports
eToro provides a diverse range of 80+ cryptocurrencies for traders around the world. The company also provides staking opportunities with ADA and TRON, allowing users to earn passively with average rewards close to 2.5%.
Trading Experience
The eToro trading platform offers a user-friendly interface that makes engaging in crypto trades smooth and easy, whether accessed via its mobile app or web platform. The combination of professional charts with straightforward order options suits all types of traders, making it an ideal choice for beginners and experienced investors.
Although eToro may not have some of the more advanced trading features seen on other online brokers, it nonetheless lays a solid foundation for supporting diverse trading strategies.
Personalization is where the eToro platform shines. Users can tweak settings to fit their individual needs, from custom alerts about market shifts to manually altering leverage according to personal risk preferences and investment tactics.
Order Types and Execution
eToro provides a selection of order types that adequately meet the needs of novice or occasional investors. These include market orders, limit orders, stop-loss orders, and take-profit orders.
These tools allow individuals to engage in stock and crypto trading confidently. Although eToro might lack some advanced order varieties, its fulfillment process is uncomplicated and sufficient for executing basic trades for most market participants.
Mobile App Experience
The eToro mobile app experience reflects the platform’s commitment to user satisfaction and functionality. The app stands out as a powerful tool for traders who demand a reliable trading app they can use anywhere, anytime. It’s a well-designed app that meets the needs of today’s on-the-go investors. It facilitates trading on the go without compromising on the features available on the web platform.
eToro Fees
eToro presents a clear and straightforward approach to transaction costs. All cryptocurrency trades incur a fee of 1%, which traders can see upfront during both the opening and closing phases of a position. Options trading incurs only minimal charges, and in situations involving CFDs and other assets, eToro operates as a market maker with the trading fees already factored into the prevailing market price.
The absence of commission for stock transactions stands out because eToro absorbs any regulatory transaction fees arising when clients divert from stocks. They intend to offer an easily understandable and manageable cost framework, enabling investors to concentrate more on making strategic investment choices rather than concern themselves over associated expenses.
Withdrawal Fees
Investors must consider the possible extra costs associated with withdrawing funds. These may include currency conversion charges and potential fees incurred by payment providers such as banks or credit card firms. These additional expenses can fluctuate and should be carefully considered when transferring funds from an eToro account.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer) | 0% |
| Deposit Fee (Debit Card) | 0% |
| Trading Fee | 1% |
| Withdrawal Fee (Bank Transfer) | 0% - $5 USD |
Security - Is eToro Safe?
eToro prioritizes safeguarding its users’ data and assets. To secure its platform against unauthorized access or financial crimes like money laundering and terrorism funding, it adheres to regulations such as those laid out in the USA PATRIOT Act. Authoritative regulatory bodies, including the FCA, CySEC, and ASIC, also monitor the company.
The collaboration with Apex Clearing Corporation has several advantages. It consolidates trading activities by eliminating irrelevant third-party brokers and strengthens transactional security.
The company also uses SSL encryption to secure user personal information against breaches. Two-factor authentication (2FA) adds an extra shield for account safety.
Traders on eToro also benefit from other protective measures. FDIC insurance secures bank accounts up to $250K value per depositor, which shows eToro’s commitment to providing a fortified trade space for crypto assets. Their cryptocurrency storage protocols are equally strict, reflecting a dedication to delivering safe investment opportunities across different asset types.
eToro Customer Support
The trustworthiness of a platform can often be seen in the quality of its customer support, and eToro excels in this regard. eToro is a highly trusted online brokerage platform backed by a solid security track record with no major breaches. This level of trust is further reinforced by the dedicated account managers provided to regular and club members, ensuring personalized customer service.
eToro’s customer support also comes with various contact options, including email and support tickets for all users and additional live chat and phone support for eToro Club members. However, despite these support offerings, some users have reported dissatisfaction, particularly with the responsiveness of the service and the process of withdrawing funds.
All in all, eToro’s high trust score and clean security history continue to contribute to its reputation as a reliable platform for its clients.
eToro Support Channels
eToro’s Educational Resources and Research Tools
eToro is committed to supporting its users with a wide selection of learning materials and analytical tools. Although it might not provide some advanced tools found in other platforms, the research features offered by eToro are user-friendly.
eToro Academy
The eToro Academy is a great tool for those venturing into crypto trading and investing. Here, beginners can take courses that cover the essentials, from understanding crypto market caps to the intricacies of behavioral finance. The Academy also provides educational videos and articles on various investment subjects, enabling users to deepen their knowledge and engage in responsible trading practices.
eToro’s commitment to education shows the importance of informed investing. By advocating for a thorough understanding of portfolio diversification and the different asset classes, the Academy plays a crucial role in promoting the long-term success of eToro users. This approach helps traders mitigate risk and encourages a more strategic and thoughtful approach to investing.
Screening Tools
eToro’s stock screener simplifies users’ process of choosing assets, yet it lacks the more complex trading tools and features on other brokerage platforms. This is even more apparent in the absence of a dedicated cryptocurrency screener tool, a functionality sought after by crypto traders. EToro counters with its Smart Portfolios feature, which presents an innovative approach overseen and fine-tuned by eToro’s expert investment team.
These smart portfolios serve as a portfolio management service that can captivate investors wanting diversity without having to monitor market movements. They reflect eToro’s dedication to offering diverse investing options that resonate with various investor profiles, from those actively managing their investments to those who favor a passive strategy.
Third-Party Research Integration
The array of research tools available to eToro users is strengthened by incorporating third-party insights from TipRanks, which offers investment information such as consensus price targets and analyst ratings. This feature enhances eToro’s research capabilities, giving customers a richer base for investment choices. Although it may not rival the in-depth third-party resources that some peers like Interactive Brokers provide, eToro’s alliance with TipRanks considerably enriches its value offer to clients.
Social Trading and CopyTrader
The social trading aspect of eToro’s platform marks a distinct feature that sets it apart, with its CopyTrader tool being particularly innovative. This feature enables eToro users to mirror the actions of successful traders on the platform by offering advanced investment strategies even to those new to investing. This facilitates an interactive and community-oriented experience in online investing.
There are multiple advantages for traders using CopyTrader. It encourages the sharing of insights and tactics among participants. Users can also allocate their capital to up to 100 different traders (this strategy diversifies their copied trades and mitigates risk exposure).
eToro’s Other Asset Offerings
eToro’s portfolio of assets extends well beyond just cryptocurrencies. The platform has more than 3,000 tradeable symbols that include CFDs, forex pairs, and exchange-traded securities. This positions eToro as a multi-asset platform ready to meet various investment styles and preferences, from the high-risk investment opportunities CFDs provide to the relative security of ETFs. Traders are ensured they have access to various tools for creating diversified trading strategies.
How to Sign Up on eToro
- Create Account - Visit the eToro website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
eToro Alternatives
Binance
Total Supported Cryptocurrencies
393+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
286+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
329+
Trading Fees
-0.005% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
eToro is an attractive choice for both beginners and seasoned investors. The platform offers a seamless user experience with its intuitive interface, diverse asset offerings, and pioneering features in social trading.
eToro also serves as a place where investors can exchange insights and develop their skills collectively. Whether one’s interests lie in cryptocurrencies or more traditional assets like stocks or ETFs, eToro provides top-tier security and flexibility when pursuing financial objectives.
The company’s strong emphasis on security measures, customer service responsiveness, and accessible educational content contribute to its appeal.
eToro Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. CFDs are complex instruments and come with a high risk of losing mon-ey rapidly due to leverage. 51% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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.
eToro FAQs
eToro is a well-known social trading platform that is regulated by several financial authorities, including the Cyprus Securities & Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC). These regulations help to provide a level of trust and security for users.
However, as with any trading platform, users should conduct their own research and consider their investment goals and risk tolerance.
One downside to using eToro can be the platform’s fee structure, as there might be charges for various services, such as withdrawal fees or overnight fees for certain positions held open. Users should also be aware that while eToro offers a range of financial instruments, the platform may not offer as extensive an offering as some specialized brokers.
Additionally, it’s worth noting that using social trading features requires careful consideration, as following the trades of others doesn’t guarantee success.
The risks associated with using eToro include the inherent risks of trading any financial markets. These can consist of market volatility and the possibility of losing your capital.
There’s also platform-specific risk, such as depending on the reliability and execution of trades on eToro’s system. As with any platform offering options like copy and social trading, relying solely on the performance and decisions of other traders is risky.
If eToro goes bust, clients’ funds are protected to a certain extent by the regulations set by the financial authorities governing eToro. For instance, eToro UK clients are protected by the Financial Services Compensation Scheme (FSCS), which can cover investments up to a certain limit if eToro fails.
Clients’ funds must also be held in segregated accounts separate from eToro’s own funds, reducing the risk of clients’ money being used to pay off the company’s debts.
eToro is often considered user-friendly and suitable for beginners. Its social trading features allow new users to observe and potentially replicate the trades of more experienced investors. However, beginners should approach investing cautiously, educate themselves on the risks, and consider starting with a demo account to get acquainted with the platform without risking real money.
To see how eToro compares to other crypto exchanges, look at our page comparing eToro vs Coinbase.
On eToro, when users buy stocks without leverage, they purchase the underlying asset and, in most cases, will own the shares. However, if users are trading stock CFDs, they do not own the actual shares but rather a contract that mirrors the stock’s performance.
It’s important to differentiate between these two methods to understand ownership rights and risks.
eToro can be considered cheap due to its competitive trading fees, which appeal to many users. However, it’s important to note that eToro still charges other fees, such as withdrawal fees and overnight/weekend fees, for positions held open, which should be considered when calculating the cost of trading.
eToro typically charges a withdrawal fee when users decide to withdraw money from their accounts. EToro sets this fee, which can be subject to change, so users should review the current fee structure on eToro’s website or in their platform before initiating a withdrawal.
Indeed, by utilizing eToro’s CopyTrader function, you can mirror the trading strategies of successful traders. This allows you to diversify your portfolio by distributing your funds among up to 100 different traders.
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eToro Disclaimer
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.
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Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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Visit eToro
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.