Broker:eToro
Leverage: 1:30
Regulation: CySEC, FCA, ASIC, USA FinCEN
Min. Deposit: 200 US$
HQ: Cyprus
Platforms: eToro Platform
Found In: 2006
Website: etoro.com
eToro Licences
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Eightcap Pty Ltd – authorized by ASIC (Australia)registration ABN 73 139 495 944 AFSL 391441
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Eightcap Global Limited is authorized by SCB (The Bahamas), registration SIA-F220
Founded in 2006, eToro was created by three partners who aimed to provide a trading platform that is accessible to all levels of traders, with easy-to-use trading tools. Today, the parent company has grown to be the largest and most well-known broker in the world along with the eTorosocial trading network which serves over 6 million users from around 150 countries.
eToro specializes in CFD asset trading and is a social trading platform. It is also a fully regulated broker, with a respected FCA and authority on Australian securities (ASIC).
You can view full reviews of forex brokers Australia here.
eToro provides both demo accounts and live accounts with advanced trading capabilities.
Every day, thousands of traders connect to eToro’s expanding global community. so let’s get close and see why.
eToro has a good reputation as a reliable broker. The account opening process is simple and seamless. EToro also ranks first for copy trading due to the large number of traders and portfolios.
The platform’s negative side is that spreads for certain instruments are large and there is not 24/7 support.
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Invest in stocks, ETFs, and crypto
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Users can copy trading done by other investors
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User-friendly app
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Free debit card deposits
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Demo account
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Limited selection of cryptocurrencies
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Fees could be lower
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Not available in every U.S. state
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Reliability ⭐⭐⭐⭐⭐
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Platform ⭐⭐⭐⭐
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Commissions ⭐⭐⭐⭐
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Support ⭐⭐⭐⭐
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Financial instruments ⭐⭐⭐⭐
RATING: 4.2
Since its inception, eToro has been a pioneer in innovation, creation, and introduction of new features that have revolutionized online trading and investment technology. Apart from the convenience of eToro traders having quick and easy access to world financial markets, it allows traders to copy successful traders around the globe without any commission.
It works this way: A brokerage firm that uses modern technology for orders and provides live quotes from the word exchanges, allows international traders to trade despite its size or experience. eToro trading platform with social trading capabilities that act as a market maker, thereby maximizing its profits from spread charges.
We will continue to cover its platform and how you can trade on eToro, step by step.
It is also a highly-recognized broker. This broker has received great reviews from global traders and was timely rewarded by international magazines, expeditions and other publications. Eventually, eToro Review discovered that the broker has been awarded Best Crypto Broker , Best Broker for Social Trading and many other “best” titles.
Yes, eToro can be trusted and is secure. It is safe and easy to trade Forex or socially with eToro.
eToro offers its trading services through its headquarters in Cyprus, and its additional entities eToro Europe eToro United Kingdom and eToro Australia Capital. Three separate jurisdictions authorize entities: FCA, Exchange Commission CySEC (Check Out CySEC regulated Forex broker LegacyFX Review), and ASIC.
It means that the financial services and trading account fully comply with all regulations and measures set forth by the authorities. MiFID, which serves European clients and is provided by the Cyprus Securities and Exchanges Commission(CySEC), and UK Financial Conduct Authority (FCA), licenses are eligible to trade.
eToro also has an entity in the USA that is available to US residents, and offers CryptoExchange trading services.
eToro clients also have additional protection through investment protection. This is a regulation rule that protects traders’ accounts through the compensation scheme in the event of a company-related problem. This rule is however different in every jurisdiction. Clients under UK FCA are eligible for eToro Compensation of up to GBP 50,000 through the FSCS, and EUR 20,000 for CySEC clients.
eToro provides live trading for Australian clients
Our eToro Review also mentions leverage, which is a loan that a broker gives to a trader. This allows traders to trade with a greater amount than their initial capital. Leverage can increase the possibility of higher profits, but it also increases the risk of losing your money.
It can eventually prove to be very risky if you set the leverage incorrectly or too high, depending on your strategy. You may also lose money trading CFDs with this provider.
Your risk level at eToro is determined by Trading using a specific leverage level. Brokers were required to reduce the maximum leverage level to 1:30 as part of the European risk regulatory update and its ESMA system. This was done to protect European clients against losing money.
Europe eToro traders have the ability to use a leverage multiplier that can be set at a maximum of
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x30 major currency pairs
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x10 to commodities
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x5 CFD stocks
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x2 Cryptocurrencies
If you have an account with an eToro entity which complies with ASIC regulation (e.g., a bank account), you might be able to access higher leverage ratios, depending on what the authority says.
eToro provides a single-account with easy account opening and access the Demo account. The traders account might be eligible for Premium services . This includes VIP club membership with access to exclusive promotions, multi-asset platform, funding benefits, and professional tools. This offer is available to traders with a minimum balance of $5k. Trading conditions and account terms may differ depending on which eTOro entity is being traded. US clients can also open CryptoWallet to trade Cryptos under completely different conditions than European accounts.
You can open an account if you are a South African resident, as our eToro review found. The entity that is authorized to provide its service has an Australian license. There is also the South African eToro Community, which facilitates trader discussions.
To sign up for eToro you will need to either complete an online application or sign with your Facebook account to instantly access a demo account . You will need to provide all necessary proofs of identity and registrations in order to open a real-money account. You will need to verify your account using a clear and easy-to-follow process.
After your account has been activated, you can go to the eToro login to sign in, make initial deposits (see our review for more information on how to fund your account) and then trade powerfully.
Account opening process
1. Select the Sign in page and click on it
2. Enter your personal data (name, email, number, etc.).
3. Upload documentation (ID, residential proof, etc.) to verify your personal data
4. Take the electronic quiz to confirm your trading experience
5. After your account has been activated and verified, you can deposit money.
Average Forex and CFD fees for eToro trading are both average. You should also check for additional fees such as withdrawal or deposit commissions. Below are the eToro fees.
Fees are usually defined by several points. These include spreads, the main fee for each position, commissions, non-trading fees, and inactivity. CFD Brokers such as eToro charge no commissions. Instead, their fees are calculated and integrated into a dealing spread. (Check out the best fixed spread brokers) This is the difference between ask and bid prices.
A Inactivity Fee is charged to accounts that are inactive for more than 12 months. This fee amounts to $10 per month. If you are still active, there are no account fees. However, additional fees such as withdrawal fee or deposit fee will be charged. You can read more about this in our eToro Review.
Spread table is a good example of minimal spreads. Typically EURUSD spread is around 1 pips, price eToro 50 pips, and BTC eToro 100 pips while considering eToro’s low CFD fees as well as Forex fees within the industry. Below is the eToro Spread.
It is important to compare industry offerings and see what you should be paying. eToro prices are very high but they are manageable from our point of view and considering the other amazing points we reviewed in etoro Review.
A spread is not the only thing that matters when choosing a broker. You’ll still be winning, thanks to many other eToro investment advantages. You can compare this broker to its peer BDSwiss.
The costs are not guaranteed. They are presented as a reference only. Fees may change depending on market conditions and liquidity.
If you are in a leveraged position that lasts more than one day, the broker may charge an overnight fee in addition to the spread. Although the broker’s fee is quite high, it is still competitive with similar offerings, such as e.g. eToro EURUSD fee is 3.7%.
Deposit
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eToro’s money management and funding options are quick and easy, which is a great convenience for account management.
These methods allow money transfer to be made. All transactions are encrypted and secured by SSL technology. Methods may differ depending on the regulations in each region.
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Debit or Credit Card
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Bank Wire Transfer
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Payment systems PayPal, Giropay, Skrill, WebMoney, Yandex, China Union Pay
eToro account base currencies defines only USD for its measure.
Consequently, a conversion fee will apply when you transfer the money either by the broker or to the bank account that you use.
Minimum deposit Depending on client’s region and country regulations, it varies from $200 to $10,000 for clients in Europe. These are just a few examples, but you should always verify with the customer service of any entity regarding its terms.
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Russia citizens should also process 500$ for the ones from Taiwan, China Hong Kong, Macau, Hong Kong, or Hong Kong.
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Australia and USA traders (Find Forex Brokers for US Trades) can start with a 50$ deposit
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Israel residents can start with as little as 10,000 dollars
eToro Minimum Deposit vs Other Brokers
eToroAll Other BrokersMinimum Deposit$50-200500$“>
Deposit fees
There is a 0 deposit fee. This means that whatever amount you deposit according to your chosen account base currency will also be available as an eToro dividend.
eToro offers a variety of withdrawal options, including bank transfer, credit card, and electronic wallets. You shouldn’t experience any withdrawal issues. also established a Withdrawal Dashboard in February 2020 to improve its withdrawal policy. This dashboard allows for full tracking of your withdrawal process.
To withdraw funds from your trading accounts, you must first make a withdrawal request from your account management area. You can only withdraw funds to your account with your username. Third party transactions are not allowed by any broker regulated.
1. Select and click on “Withdraw Funds” in the menu tab
2. Enter the amount you wish to withdraw in the form
3. You can choose to withdraw using a Credit Card, Debit Card or Electronic wallet.
4. Complete the electronic withdrawal form with all required requirements
5. Confirm with the withdrawal fee and submit
6. Your Dashboard will show you the current status of your withdrawal.
After confirmation, you will be notified about your withdrawal request and updated statuses via email. Within a few days, the broker will process your withdrawal transaction request. You should also allow your payment provider access to your account to transfer funds. This can take a few business days depending on international laws and requirements.
You should still consider eToro withdrawal fees to be $5. This fee is charged for every withdrawal request made from your eToro wallet. The minimum withdrawal limit is $50. This is a huge improvement. Previously, eToro was charging 25$, but it is now much lower, which is absolutely fantastic.
eToro Club Platinum tier members and above receive no withdrawal fees.
Comparison of Deposit Options
eToroPlus500AvaTradeBank Transfer✔✔✔Debit Card , Credit Card✔✔✔Electronic Wallets✔✔✔Base Currencies1105“>
The eToro markets portfolio is among the best in the industry. It offers a wide variety of products through thousands if financial multi-asset platforms. There are also categories that offer flexible eToro trading hours. Each class has its own characteristics. You can trade them using a strategy that suits your needs or by following the successful strategies with eToro copy-trading.
The eToro product range includes Forex . Commodities, investing in stocks indices and eToro CFD. A recent trend is eToro Bitcoin or other cryptocurrencies based on CFD basis trading.
You can trade Cryptocurrencies through eToro. However, CFDs will eventually be available on the platform. CFD trading tips are always helpful to learn how to get the most out of CFD trading. The Cryptocurrency CFD is a wonderful instrument because it fluctuates widely. It also offers big advantages due to its secure and affordable nature. You can trade Bitcoin and Ethereum Classic, Binance Coin and Dash.
US clients can trade Cryptos via eToro Exchange.
eToro constantly improves its vast array of assets which includes more eToro crypto pairs, eToro xrp and other instruments. But it also develops controls, features, and other innovative tools to enhance its already strong trading platform. Cryptocurrency, despite its regulatory framework and investor protection is not regulated in all jurisdictions. This remains your responsibility.
It is a known fact that the eToro company rapid revival began with the presentation of the eToro OpenBook platform. This platform was the first to offer clients the opportunity to connect with successful investors and trading communities.
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eToro innovative platform has received multiple awards and vast recognition as a leader in the Financial Technology industry.
The platform features are simple and easy to understand . You can transact at the eToro trading sites without needing to download or install. Everything is done through the eToro website.
Once you have created a security login, an interface will appear with w atchlists, options to manage your account and search, portfolio settings, and Fee reports with all-time statistics.
One of the best features about eToro’s search function is the ability to search among traders and copy them. We will discuss this further in the eToro Reviews. You may also find organized search results that make it easy to find specific instruments, communities, and other searches.
You can keep up to date about the direction you have set by setting price alerts, notifications, and browser notification. This is extremely useful because it allows you to track price movements.
The charting is easy to understand and has good visual characteristics. There are many tools that can be used for better analysis. The platform also offers eToro API which provides a variety of tools. This includes a schedule for each asset with a variety of settings and many indicators that allow for efficient functionality.
Apart from its clear charts and other functions , also offers a variety of orders and stop-loss configurations to make trading easy. Icon trades and one-click trading may also be possible.
A complete portfolio and fee report is available to track your portfolio performance. Here you can find the detailed historical data. All data for the portfolio can be found on the “Portfolio” tab. This includes fees, cash flows, orders history, and information about the time period.
Trading Platform
Simple and clean to use
Comprehensive search among portfolios
It’s easy and quick to navigate
Fee Report
Available languages: English, Spanish, Dutch, Thai, Arabic, Portuguese, Polish
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Mobile Trading Platform
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eToro mobile trading platform,which has been integrated through two platforms OpenBookallows for you to stay connected at all times through one application eToro app. All features are available: copy other traders, check real-time feeds and perform any platform action. Both iOS and Android devices can be supported. This is a great way for traders to trade any time, under any conditions.
The CopyTrader proprietary program, CopyFund has been extremely popular recently. It allows new traders to “search”, the highest ranked traders.
Let’s now get to the core details of how eToro Copy trade works. After you sign in, confirm your data and open a Live account, you can join the millions of traders around the world at eToro.
You have two choices. You can either invest in another’s portfolio by seamless automatic copyingof a selected eToro investor or you can create trading portfolios that specify a layer or group of traders or instruments. You are always in control of the risk levels and the amount that you want to invest.
You can also get copied if you’re a professional and earn additional income from your copiers.
eToro also uses the comprehensive research to help you choose the best traders. This includes criteria such as risk level, stable weekly indicator, trading volumes, and leading trades. You can always choose the best trader or portfolio to suit your needs, and this will allow you to determine the best working option.
It’s also fascinating that can not only copy transactions of individual traders but also various investments in an industry portfolio or groupstoo. This makes for great investment advice.
This is the most intriguing and captivating question a trader can ask. You have two options to make money with eToro or any other broker . You can either use Copy Tradingcapability or your own strategy. If you are just starting out in trading, the copy option is a great choice. It may also be a good investment strategy if you don’t want to trade.
Once you have found a trader that you like, you can decide how much money you will copy and what measures of risk you will use. You may also copy other traders if you feel it is appropriate.
The most important thing in trading is smart risk management. Trading is a complex business and can be dangerous if you don’t manage your positions properly. eToro provides all the tools you need to trade successfully, but the final outcome is entirely up to you.
You must adhere to a discipline strategy with eToro pending closing orders and management your close trade positions using eToro stop-loss or eToro profit limit.
So does eToro have a desktop trading platform? Unfortunately, no. You can’t log in via desktop. The only options are either a Web-based platform or a mobile application. You should also consider another broker if MetaTrader4 is not an option.
Customer Support is available 24/7, excluding weekends, in various languages and via live chat, phone, and email. eToro considers client satisfaction a top priority. Therefore, they have created a web-based ticketing system that allows you to contact customer service with any question or concern.
All traders can also use many features such as eToro Education and eToro Guide.
You can use support content to help you trade better. Demo account is recommended for testing strategies and running trials in a risk-free environment. This account is easy to access through your accounts area.
You can also visit the eToro website to check out best practices, live webinars, and the latest data and updates. You will also learn how to trade on eToro.
While eToro videos and education materials aren’t super-comprehensive, they are more basic or medium level. It is still a good idea to include other guides from top providers if you’re a beginner.
You can also use eToro’s research tools to make better decisions and educate others. You may also receive trading ideas from the community, or its diverse portfolio, along with analyst recommendations.
eToro users can benefit from news feed by sharing education through the use of common technology, such as social streaming via twitter, etc.
eToro is a top social trading platform for transparency and number of copy traders. There are many reasons eToro is a top social trading platform. Add to that the benefits of trading teamwork and high deal bonus, and it becomes clear that cooperation can have a positive impact on all. Although there are many social trading platforms, eToro is the most popular and effective.
