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eToro Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
eToro logo
4.32
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit eToro

Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.

eToro Service ARSN 637 489 466 Capital at risk. See PDS and TMD.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

eToro emerges as an excellent choice for those seeking a social trading environment with a breadth of crypto assets and traditional financial products. Its approach to trading, combined with a robust security framework and engaging user experience, positions it as a noteworthy player in the digital trading space.

While eToro’s innovative tools and community features enrich the platform, it’s crucial for users to consider their own investment goals and risk tolerance when engaging in the world of online trading.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • User-friendly interface
  • Social trading features
  • A variety of investment instruments beyond crypto
  • Demo account for practice trading
  • Regulated by multiple financial authorities

Cons

  • Withdrawal fees apply
  • Limited charting tools for advanced technical analysis
  • Customer service can be slow to respond
  • Crypto offerings less extensive than some specialised exchanges
  • Spreads can be higher compared to other platforms

Quick Summary

Headquarters Location International
Fiat Currencies Supported USD
Total Supported Cryptocurrencies 79+
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

Delving into the world of cryptocurrency trading, eToro stands out as a multi-asset platform that facilitates trading across various financial products. From the casual investor to the seasoned trader, eToro caters to a diverse clientele with its array of services.

eToro homepage

This article peels back the layers of eToro, shedding light on the nuances of its trading experience, customer support, and more.

In the current era of financial democratisation, eToro has emerged as a key player, bridging the gap between traditional investment opportunities and the advancing world of cryptocurrencies. The platform not only simplifies the investment process but also enriches it with a sense of community, a feature that’s increasingly valuable in the digital age.

While eToro’s diverse range of offerings already provides a compelling narrative, the company’s growth and adaptation to the ever-changing market environment further underline its position as a forward-looking platform that’s well-suited for the modern investor.

About eToro

eToro began its journey as a fintech startup in 2007, with the vision of democratising traditional money management to open the financial markets to everyone, everywhere. The platform has since evolved to include a comprehensive range of trading and investment options, including crypto assets.

With a global footprint, eToro prides itself on being a social trading pioneer, merging community with commerce by enabling investors to follow and copy the trades of expert users.

eToro features

eToro’s trajectory is marked by significant milestones that mirror the evolution of online trading itself. From its inception, the company has navigated through waves of technological advancements and regulatory changes to establish itself as a reputable online broker.

eToro’s commitment to innovation saw the early incorporation of cryptocurrencies into its list of tradable assets, recognising the potential of digital currencies before they entered mainstream consciousness. The adoption of social trading features allowed eToro to capitalise on the collaborative tendencies of the internet, fostering a new way for investors to engage with the markets and each other.

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 79 cryptocurrencies on their platform. This exchange currently supports 20 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Dogecoin (DOGE)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Internet Computer (ICP)
  • Shiba Inu (SHIB)
  • Dai (DAI)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Immutable (IMX)
  • Filecoin (FIL)
  • Uniswap (UNI)
  • Kaspa (KAS)
  • Hedera (HBAR)
  • Cosmos (ATOM)
  • UNUS SED LEO (LEO)
  • Ethereum Classic (ETC)
  • Stacks (STX)
  • Optimism (OP)

View all cryptocurrencies eToro supports

  • 1INCH
  • AAVE
  • ADA
  • ALGO
  • ALICE
  • AMP
  • ANKR
  • APE
  • API3
  • ATOM
  • AVAX
  • AXS
  • BAL
  • BAND
  • BAT
  • BCH
  • BICO
  • BNB
  • BNT
  • BTC
  • CELO
  • CHZ
  • COMP
  • CRO
  • CRV
  • CTSI
  • DASH
  • DOGE
  • DOT
  • DYDX
  • ENJ
  • ENS
  • EOS
  • ETC
  • ETH
  • FET
  • FIL
  • FLR
  • FTM
  • FTT
  • GALA
  • GRT
  • HBAR
  • IMX
  • KNC
  • LINK
  • LPT
  • LRC
  • LTC
  • LUNA2
  • LUNC
  • MANA
  • MATIC
  • MIOTA
  • MKR
  • NEO
  • OGN
  • OXT
  • QNT
  • REN
  • SAND
  • SGB
  • SHIBXM
  • SKL
  • SNX
  • SOL
  • SRM
  • STORJ
  • SUSHI
  • THETA
  • TRX
  • UMA
  • UNI
  • XLM
  • XRP
  • XTZ
  • YFI
  • ZEC
  • ZRX

Trading Experience

The user experience at eToro is polished, with an emphasis on intuitive navigation and accessible trading features. A testament to its user-centric design is the proprietary trading platform that offers real-time insights and seamless execution.

eToro’s platform is equipped with tools that cater to a wide range of experience levels, ensuring that all traders can make informed decisions.

Trading on eToro offers an experience that resonates with a broad spectrum of traders, from those making their first foray into the markets to seasoned professionals seeking a rich trading environment. The platform’s design facilitates a seamless journey through the intricacies of the financial markets.

This experience is enhanced by a suite of tools that serve both educational and practical trading needs, enabling traders to perform comprehensive market analysis and execute trades with confidence. eToro’s commitment to an enriching trading experience is evident in the continuous refinement of its tools and services, which cater to the dynamic needs of the trading community.

eToro exchange marketing

eToro Fees

eToro’s fee structure is crafted to accommodate the varied needs of its users. While specific figures are beyond the scope of this content, it’s important to note that the platform operates with a blend of spread-based pricing for certain asset classes and explicit fees for others.

As with any trading environment, it’s crucial for users to familiarise themselves with the costs associated with their investment strategies on eToro.

Understanding the cost structure of trading is integral to developing effective investment strategies. eToro, recognising this, has designed a fee system that is transparent and adaptable to the varied approaches of its user base.

The platform’s fees are structured to support both short-term and long-term trading activities. eToro’s nuanced approach to trading costs ensures that traders can plan their investment moves without the burden of unexpected expenses.

This is particularly important in a fast-paced trading environment where the ability to act swiftly and with full knowledge of cost implications can greatly affect trading outcomes.

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?

Security is paramount at eToro, where regulation and safety measures are tightly interwoven. eToro operates under the oversight of several financial authorities, ensuring that it adheres to the highest standards of broker conduct.

The safeguarding of client funds and personal information is achieved through advanced security protocols and adherence to regulatory requirements.

Security on eToro is not a static concept but one that evolves in response to the threats that are inherent in digital finance. Among the array of measures eToro employs, there is a strong emphasis on encryption technologies to protect data transmission, and sophisticated network defences to safeguard the platform against unauthorised access.

In addition, multi-factor authentication processes provide an extra layer of security at the client level. These security features are part of a broader strategy to deliver a safe trading environment that aligns with best practices and regulatory expectations.

eToro Customer Support

Customer support on eToro is a cornerstone of its service, boasting a responsive and helpful team. Whether through real-time chat or various online support channels, traders can expect prompt assistance.

eToro also provides a rich repository of educational content, fostering a supportive environment for traders to grow their knowledge.

In a landscape where timely support can be the difference between a positive and negative trading outcome, eToro places a high priority on customer assistance. The platform ensures that traders have access to support when they need it, through multiple channels that are designed for efficiency and effectiveness.

This commitment to customer support also extends to educational provisions, with the eToro Learning Academy serving as a testament to the platform’s dedication to empowering traders with knowledge and skills. Moreover, the availability of a vast array of educational content helps build a solid foundation for making informed investment decisions.

eToro support

eToro Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on eToro

  1. 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.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Skrill
  • Neteller
  • WebMoney

eToro Alternatives

Binance logo

Binance

3.27
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

Visit Binance
Kraken logo

Kraken

3.67
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
233+

Trading Fees
0.06% - 0.16%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

Visit Kraken
OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

After thorough exploration, eToro demonstrates a commitment to providing a user-friendly experience elevated by its social trading edge. The platform’s dedication to innovation is reflected in its diverse offering of trading options and its inclusive approach to both novice and professional investors.

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, it’s important for users to conduct their own research and consider their investment goals and risk tolerance.

One of the downsides 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 have as extensive an offering as some specialised brokers.

Additionally, it’s worth noting that the use of social trading features requires careful consideration, as following the trades of others doesn’t guarantee success.

The risks with using eToro include the inherent risks associated with trading any financial markets. These can include 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, there’s a risk in relying solely on the performance and decisions of other traders.

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 are also required to 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, particularly because of its social trading features, which 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, have a look at our pages comparing eToro vs Coinbase.

On eToro, when users buy stocks without leverage, they are purchasing the underlying asset and, in most cases, will own the shares. However, if users are trading stock CFDs, they are not owning the actual shares but rather a contract that mirrors the performance of the stock.

It’s important to differentiate between these two methods to understand what ownership rights and risks are involved.

eToro can be considered cheap due to its commission-free structure for stock trading. This appeals to many users, as it allows them to invest in stocks without paying a fee every time they enter or exit a trade.

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 take money out of their account. This fee is set by eToro and can be subject to change, so it’s advisable for users to review the current fee structure on eToro’s website or within their platform before initiating a withdrawal.

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eToro Disclaimer

eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Smart Portfolios are not exchange-traded funds or hedge funds and are not tailored to your specific objectives, financial situations, and needs. Your capital is at risk. See PDS and TMD.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk. May not suffice as a basis for investment decisions.

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 Headshot
Written by

Crypto Technical Writer

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.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

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.

Check Adam out on: