EToro Review

EToro

  • Regulated broker (CySec, FCA, ASIC)
  • Best broker for Social trading
  • USA friendly only for Cryptocurrency Trading
  • 50+ forex pairs, 950+ CFD Stocks
  • EU, UK and Australian Traders Accepted
68% of retail CFD accounts lose money
Visit Now

Details

Broker EToro
Website URL https://www.etoro.com/
Founded 2007
Headquarters Limassol(Cyprus), London (United Kingdom), Tel Aviv (Israel)
Languages English, German, Italian, Spanish, Portuguese, Russian, Arabic, Bahasa (Indonesian), Tieng Viet, Swedish, Norsk, Danish, Nederlands, Romanian,
Trading Platform eToro CopyTrader
Minimum 1st Deposit 200€
Bonus 68% of retail CFD accounts lose money
Leverage Up to 30:1
Free Demo Account Open Demo
Regulated Yes
Regulation CySec, ASIC, FCA
Trading Methods Social Trading, Copy Trading
Number of Assets 950+ CFD Shares, 50+ Forex Pairs
Types of Assets Real Assets (EFT, Stocks, Cryptocurrencies), CFD Trading (Forex, Commodities, Indices, EFT's, Shares, Cryptocurrencies)
US Traders Allowed Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 98

Pros

  • Safe Trading in a fully Regulated and Reliable Broker
  • Accepts US Traders to trade Real Cryptocurrencies
  • Invest in Real Shares
  • Monitor and Copy other Succesfull Traders with proven Trading Records
  • State of the art Trading Platform, makes Trading a Social Activity
  • Excellent platform, brings trafing experience to another level

Cons

  • Could Provide More CFD Trading Instruments
  • US Traders can trade only Cryptos
  • Customer Support needs improvement
  • Non Trading Fees are considered to be high

EToro - Sign Up Now

Is eToro a scam Broker?

Is eToro a safe broker to Trade?

Read this eToro Review and determine whether the broker is the right match for your trading needs.

Toro was established in 2007 in Tel Aviv, Israel, as a brokerage company that provides social trading, and copy trading, financial, and brokerage services to traders and investors.

The company’s headquarters are located in Israel, Cyprus, and the United Kingdom. The company provides its services in more than 140 countries, with thousands of active traders trading daily in eToro platform.

eToro Online Trading Platofm can be found in www.etoro.com

 

Licenses, Regulations and Restrictions

eToro is offering its services to clients via its company subdiaries, based on the resedency of the trader.

For EU Residents (Germany, France, Italy, Spain, Nenderlands etc):

EEA Residents can use eToro via eToro (Europe) Ltd., a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under the license # 109/10.

For UK Residents:

UK Residents can use eToro via eToro (UK) Ltd, a Financial Services Company authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.
Cryptocurrency CFD Trading is not available to UK retail traders due to the latest (7 January 2021) regulatory restrictions

For US Residents:

US Traders can use eToro via eToro USA LLC, which is registered with FinCEN as a Money Services Business. eToro is not available in all USA states, check here where is available.
Up to today, US Traders can trade only cryptocurrencies
US Traders cannot trade any type of CFD due to US Law

For Australia Residents:

eToro AUS Capital Pty Ltd. is authorised by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139.

Most Important Restricted Countries

Albania, Armenia, Canada, China, Hong Kong, Iran, Iraq, Japan, Myanmar, Nigeria, North Korea, Pakistan, Panama, Serbia, Tunisia, Turkey

 

EToro Trading Instruments

Currencies, Commodities and Indices

  1. Currencies (Forex Trading), Commodities (such as Gold, Oil etc) and Indices are traded only via CFD Trading, meaning leveraged trades.
eToro Forex Trading Pairs

eToro Forex CFD Trading Pairs. Visit eToro

Stocks

  1. In EToro you can trade famous Stocks such as Google, Apple, Facebook etc
  2. You can buy a Real Stock. This means that the ownership of the Stock is transfered under your name. In that case you cannot sell a stock that you do not own
  3. You can trade stocks via CFD. You do not own the asset. In that case you can use leverage and also sell a stock that you do not own. (Short Selling)

EFT’s

  1. In EToro you can trade EFT’s such as
  2. Investing in ETFs on eToro by opening a BUY (long), non-leveraged position, means you are investing in the underlying asset, and the ETF is purchased and held in your name.
  3. EToro also offers additional functions via CFD trading. With CFDs, you can open SELL (short) positions with the use of leverage.
  4. All leveraged ETF positions in the UK, under FCA regulations, and all positions in Australia, under ASIC regulations, are executed as CFDs

Cryptocurrencies

  1. Famous cryptos to Trade in EToro are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH)
  2. Cryptos are very volatile, which makes them very risky for trading
  3. Buying crypto on eToro means you are investing in the underlying asset, and the crypto is purchased and held by eToro on your behalf. These trades are unleveraged. Buying and selling the underlying assets are unregulated and have no investor protection. Long (BUY) cryptocurrency positions are unregulated products with no investor protection. However, short (SELL) positions opened for cryptocurrencies on eToro are executed using CFDs (leveraged trades), and, therefore, operate under the regulations of CySec and the FCA.
  4. Trading Real Cryptos is available for US Traders in EToro. At the moment is the only available trading asset for US Residents.
  5. Trading Cryptos via CFD is not available for UK Traders
With eToro, traders can trade CFDs on stocks, ETFs, commodities, indices, forex, and cryptocurrencies. eToro supports CFDs on 950+ stocks on 17 stock exchanges, 50+ currency pairs, 250 ETFs, 45 types of commodities, and 15 market indices.
EToro EU EToro UK EToro USA EToro Australia
Company eToro (Europe) Ltd eToro (UK) Ltd eToro USA LLC eToro AUS Capital Pty Ltd
Regulation CySEC FCA US FinCEN ASIC
Real Shares
Real EFTs
Real Cryptos¹

 

CFD Trading Forex
CFD Trading Shares
CFD Trading EFT’s
CFD Trading Commodities
CFD Trading Cryptos²
CFD Trading Indices
  1. Cryptocyrrencies are high volatile and unregulated investment product. No EU investor protection. Your capital is at risk.
  2. Trading Crypto CFD’s is not available for UK residents
  3. Real Shares, Real EFT’s and Real Cryptos: The owner buys the underlying asset. (No Leverage)
  4. CFD Trading = Leveraged positions. 68% of retail investor accounts lose money when trading CFD’s with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

Sign Up and KYC Verification Process

  1. Move to ΕToro Website
  2. To sign up you need a username, an email, and a password. Alternatively you can use your facebook or Gmail Account
  3. At the sign up stage you do not need a KYC Compliance. But in order to Deposit and Trade you need to verify your account.
Type of Document It must contain It could be
Government issued ID Full Name, Date of Birth, Photograph, Valid Expiry Date Your State ID Card, your passport, your driving Lisence
Phone Verification Valid Mobile Phone Number Recieve SMS code
Proof of Address
Your name, Your current residential address, The date of issue, The issuing authority, a reference to the issuing authority (logo, contact information, website etc.) a Bank statement, a government tax letter, a Social insurance statement or just an Electricity, water, gas, telephone or Internet bill

 

eToro Trading Platform

eToro was among the few brokers to launch a social trading feature in its trading platform, the eToro CopyTrader.

The platform was launched in 2010 and is the world’s top social trading platform with millions of users.

The eToro CopyTrader has an interactive interface and offers a variety of useful features.

One of the most distinguishing features of eToro’s trading platform is its social trading feature that allows traders to interact with other traders to discuss their trading strategies on the social feed on the platform.

The copy trading and copy portfolio features lets traders copy trades and portfolios of other traders. Any changes made in the original portfolio or trade will be replicated, allowing you to mimic the returns of the original portfolio or trade.
eToro Copy Trading Platform

eToro Copy Trading Platform. Visit eToro

To get users familiar with the trading platform and trading, every user receives $100,000 virtual currency in a demo trading account after opening a trading account with eToro.

With the eToro CopyTrader platform, traders can get access to the latest research and insights from the financial industry experts. They have a clear access to the trading stats performance of other traders. The platform’s one-click trading feature allows traders to make repeated trades with a single click using the pre-entered trade parameters.

Traders can manage their trades by setting Stop Loss and Take Profit points, using which traders can limit risks and secure profits on their trades. With the platform’s trailing stop loss feature, the stop-loss moves up or down automatically based on the price movement, which ensures that traders lock in some of the gains and get maximum profit as long as the market is moving in a favorable direction.

The platform offers a robust charting tool, called ProCharts, which enables traders to compare charts and price action of different financial instruments side by side.

 

Account Types & Minimum Deposit

Traders have the option to open the following types of trading accounts with eToro:

1- Standard Trading Account

2- Islamic Account

3- Professional Account

We will discuss features of each of the trading account offered by eToro:

1- Standard Trading Account

The Standard trading account can be opened for $50 in the U.S and in other countries.

Retail Traders can get leverage of 30:1 for major currency pairs, and 20:1 for non-major currency pairs. For commodities, CFD stocks, and cryptocurrency CFDs, eToro offers leverage of 10:1, 5:1, and 2:1, respectively.

2- Islamic Account

eToro offers a swap-free Islamic account to its Muslim clients. eToro doesn’t charge swap or rollover interest on overnight positions on the swap-free account. The account meets the criteria of Islamic law regarding interest and is suitable for Muslim traders.

3- Professional  Account

eToro also offers a Professional account with the same minimum deposit requirements but provides more leverage to traders. However, to qualify for opening a professional account, traders need to pass a test.

 

Fees

eToro charges zero commissions for trading US-listed stocks. The fees charged are generally lower for CFD trading as eToro includes the charges in the spread. The broker charges no commission on trading stocks. eToro charges a spread of 0.75% to 4.5% on buying cryptocurrencies.

eToro’s spreads on currency CFDs range from 1 to 7 pips on major currency pairs. The spread on commodity ETFs starts from 2 pips whereas, on indices ETFs, the spread ranges from 4 to 1200 pips, depending on the type of indices traded.

On stock and ETFs CFDs, the spread averages 0.09% while on cryptocurrencies CFDs, the spreads start from 0.75% and range to 5%. eToro also charges overnight fees on CFD positions that trades leave open overnight.

 

Deposit Methods

Traders can deposit funds into their trading accounts using credit cards (Visa, Mastercard, Diners), eWallets (Neteller, China UnionPay, Skrill, PayPal, Yandex, WebMoney, etc.).

eToro also allows making deposits through bank wire transfer. The broker doesn’t charge any fee for depositing funds into the accounts.

 

Conclusion

EToro Review

  • Regulated broker (CySec, FCA, ASIC)
  • Best broker for Social trading
  • USA friendly only for Cryptocurrency Trading
  • 50+ forex pairs, 950+ CFD Stocks
  • EU, UK and Australian Traders Accepted
68% of retail CFD accounts lose money
Visit Now

eToro is a leading international broker regulated by the most reputable regulating bodies, such as CySec, FCA, ASIC.

Millions of Traders already trust eToro, signal that it is one of the best options for Online Trading.

eToro’s innovative platform allows Social Trading, and Copy Trading protfolios. Discuss with other traders, learn from their strategy, or just copy their trades.

Trade in a Regulated and Safe enviroment.

Visit eToro

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% 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.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.k.

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.


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