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Founded in 2007, eToro boasts over 30 million customers in 140 countries. The company has won several awards during its more than 15-year tenure in the industry. Most recently, it won Best Trading Platform for Beginners at the 2022 Finder Stock Trading Platform Awards.
Previously, customers in the United States could only trade cryptocurrencies on eToro. But in 2022, the platform expanded its offering to include stocks, ETFs, and options.
eToro is a user-friendly investment platform that currently serves 46 American states and Washington, as well as several countries worldwide.
All US residents can sign up for an eToro account. However, actual trading is currently unavailable for those in Hawaii, Minnesota, Nevada, New York, Puerto Rico, American Samoa, Guam, and the US Virgin Islands.
eToro’s primary goal is to bring a communal aspect to trading, which many other brokerages lack. The platform has created a robust investment community built around social collaboration.
Some of eToro’s social investing features include:
A copy-trading program that lets you automatically copy the moves of more successful traders.
A “Popular Investor” program that rewards members of the eToro community for being copied.
A social news feed that lets you follow your favorite investors and financial assets, interact with fellow eToro users, and start discussions.
eToro is suitable for several types of investors.
The broker is a great option for beginners. When you open an account with eToro, you’ll automatically receive $100,000 in a virtual portfolio. As a newbie, you can use this demo account and cash to practice investing in the platform's financial markets and assets in real-time.
Additionally, eToro provides a wealth of educational materials, including a free course and blog articles, to help you learn more about investing.
eToro is also suitable for people who want to trade both stocks and crypto in one place. In fact, it’s one of the few investing platforms in the US that lets users buy and sell the two types of assets using a single account.
Lastly, eToro is an excellent option for crypto investors who want to learn from other traders' expertise. Using the CopyTrader feature, you can instantly replicate the moves of top-performing investors in your portfolio.
Even if you don't want to copy other investors’ moves, you’ll still be able to see other important details, such as their return percentage, the assets they trade, their risk level, and more. You can copy one trader or up to 100 simultaneously.
What’s more, this service is completely free. There are no management costs or other hidden fees to worry about.
However, copying a trade requires a minimum of $200. Also, this service is only currently available for crypto. eToro is working on adding stocks and ETFs to the CopyTrader program.
Feature/Product | Pricing |
Stocks and ETFs trading | $0 |
Options trading | $0 |
Cryptocurrency trading | 1% of crypto sales or purchases |
Account opening | $0 |
Minimum trading amount | $10 (for US customers) |
Minimum amount to copy trades | $200 |
Copy-trading fees | $0 |
Withdrawal fee | $0 |
Incoming wire transfers (domestic) | $8 |
Outgoing wire transfers | $25 |
Outgoing ACATs transfers | $75 |
Account inactivity fee | $10 per month after a year of inactivity |
eToro charges zero commissions for stocks, ETFs, and options trades. While commission-free trading on stocks and ETFs is now an industry standard, no commissions on options trades are rare, as most brokerages charge a per-contract fee of between $0.50 and $1.
Additionally, eToro allows fractional share investing. So, if you don’t have enough cash to buy one or more whole shares of a particular company, you can buy a portion of the share for any amount over $10.
You can invest in 24 different cryptocurrencies with eToro. However, crypto trading isn't free, unlike stocks, ETFs, and options. Each transaction incurs a 1% fee.
eToro also offers ready-made crypto portfolios called “Smart Portfolios” that you can invest in. These are a collection of crypto assets carefully selected (and regularly balanced) by eToro’s team based on a particular investing theme or strategy. A minimum investment of $500 is required, but you won’t pay any management fees for the service.
The company also provides a free digital wallet to store your crypto assets. You can transfer funds from the eToro investment platform to the crypto wallet at a small but capped percentage fee that will be determined when your request is processed.
In addition, eToro offers a limited margin account to allow for options spread trading. If you’re interested in opening this type of account, you can submit a request by contacting eToro’s customer support.
Finally, there’s a $10 monthly inactivity fee if you don’t log into your eToro account for over a year. However, the fee only applies if your account has any remaining balance. eToro won’t close any of your open positions to cover the fee.
You can open an eToro account online in minutes. Follow these steps:
Go to eToro.com and click the green “Start Investing” button in the middle of the screen.
On the next page, click “Sign up” at the bottom next to “Don’t have an account?”
Then, fill in the required information: a username, email, and password. You can also choose to sign up using your Facebook or Google account.
Review eToro’s Terms and Conditions, Privacy Policy, and Cookie Policy, and then check the appropriate boxes to accept them.
Click the green “Create Account” button.
Go to your email inbox and verify your email address.
Before you can start trading on eToro, you must undergo a mandatory verification process.
This involves uploading a proof of identity document (which can be either a passport or government-issued ID) and a proof of address document (which can be a bank statement, a credit card statement, or an electricity, water, or gas bill).
eToro will review the documents and reach out in a few days to notify you if it has verified your account.
From there, you can deposit funds into your account and start trading. eToro offers four payment methods for its US customers: debit card, bank account, PayPal, and Wire transfer.
eToro has a mobile app available for iOS and Android devices. The app is highly rated by users, with a 4.1 out of 5 rating on the Google Play Store and a 4.2 out of 5 score on the App Store.
The eToro mobile app has a sleek, modern, and uncluttered design. As an eToro customer, I find the app easy and enjoyable. New customers will love its intuitiveness.
eToro’s app provides access to many features available on the web-based platform, such as viewing investments, checking account balances, executing trades (including copying fellow traders), and depositing and withdrawing funds.
eToro is regulated by several credible regulators, including the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This means the company has to adhere to the standards and regulations established by these two organizations to safeguard investors’ funds.
eToro is also a member of the Securities Investor Protection Corporation (SIPC), which provides financial protection for customer funds—up to $500,000, including $250,000 for cash claims—if the brokerage fails.
Moreover, eToro’s clearing firm, Apex Clearing Corporation, has bought an additional insurance policy that provides extra protection for securities and cash in customers' accounts. This policy protects your money to the value of $37.5 million for securities and $900,000 for cash.
Regarding cybersecurity, eToro employs advanced encryption and masking technology to ensure your personal and financial information is safe. Any data sent between customers and the organization is done only via encrypted transport layer security (TLS).
To prevent authorized access and use of your account, the firm offers several secure login features, such as two-factor authentication and a rate limit on account operations (including failed login attempts).
eToro isn’t accredited by the Better Business Bureau (BBB) and has an F rating on the platform. BBB ratings represent the bureau’s opinion of an organization’s commitment to ethical practices, including providing timely feedback to customer queries.
However, the bureau says its ratings don’t guarantee business performance. Therefore, to get a complete picture of eToro’s dependability, you should do your own research in addition to considering its BBB rating.
On Trustpilot, eToro has a relatively high score of 4.4 out of 5 stars. Customers who’ve positively reviewed the platform praise its user-friendliness and knowledgeable, supportive account managers.
eToro offers several avenues for customer support.
First, there’s an automated chatbot. It’s available 24/7 and uses AI technology to answer your questions. Agents are available on live chat 24 hours a day, Monday to Friday, if you prefer to speak to a real person.
You can also open a ticket via the company’s online Customer Service Center. Click “Open a New Ticket,” and then specify your question using the drop-down lists. The company says it’ll get back to you within 48 hours.
An extra customer support option is available if you’re in the eToro Club, which you’ll automatically join when your account balance reaches $5,000. Once you’re an eToro Club member, you can communicate directly with an account manager on WhatsApp.
Finally, eToro offers a Help Center on its website. You’ll find answers to frequently asked questions about various topics—including account modifications, deposits and withdrawals, copy trading, and much more.
With several investment products on offer—including cryptocurrencies, stocks, ETFs, and options—eToro is a solid platform that could be worth a look to various types of investors.
Beginners who are just learning to trade, or investors who don’t have time to study the market, will enjoy eToro’s copy-trading feature that lets them mirror the moves of expert traders with just one click.
The platform is user-friendly on both mobile and the web. It’s easy to open an account and every new user gets a free demo account to practice investing before putting in real money.
eToro USA LLC
221 River St.
9th Floor
Hoboken, NJ
07030
United States
Yes. eToro is a reputable investing platform with millions of users worldwide. It's regulated by several credible institutions, including the SEC and FINRA. eToro also employs various security measures, including encryption technology, to protect investors' information and funds.
While eToro is a reliable platform overall, it does have a few limitations. For example, eToro’s services are unavailable in New York, Minnesota, Hawaii, and Nevada. The platform also doesn’t offer access to some asset types like bonds, mutual funds, commodities, or foreign currencies.
Yes. eToro’s intuitive and user-friendly platform, free demo account, and useful learning materials make it a solid option for beginners. Its copy-trading features allow newcomers to learn from and emulate the moves of more experienced investors.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Disclaimer:
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. 76% of retail investor accounts lose money when trading CFDs with this provider. 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.
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 decisions.
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.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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.
“[Affiliate] is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.”
