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CySEC, FCA, FSA, ASIC
eToro started in 2007 and has grown into a top spot for investors. 33 million people successfully registered on eToro in 2023. They offer lots of assets, tools for trading, and ways to connect with others who invest. Over 30 million users worldwide join eToro’s lively investing community. People of all skill levels share ideas, talk about strategies, and learn from each other. You can check out other investors’ portfolios. You can also copy their moves automatically. Plus, you can make money by being an investor. We, at Topforex, will give you a detailed review of eToro in 2024.
🏢 Headquarters | Cyprus |
🗺️ Regulation | CySEC (Cyprus), FCA (United Kingdom), FSA (Seychelles), ASIC (Australia) |
💻 Trading platform: | Mobile apps (iOS, Android) |
💰 Account currency: | USD |
💵 Withdrawal: | Wire Transfer, Neteller, Moneybookers, Webmoney, Skrill, PayPal, Debit Card, iDeal, Klarna, Sofort, Przelewy |
🚀 Minimum deposit: | $50 |
⚖️ Leverage: | 1:30 (CySEC ), 1:30 (FCA), 1:500 (FSA), 1:30 (ASIC) |
💼 PAMM-accounts: | No |
📈️ Min Order: | $1 for copying trades$10 for investing in stocks |
🎮 Demo Account | YEs |
💱 Spread: | From 2 pips |
🔧 Instruments: | Stocks, ETFs, stock indices |
📋 Orders execution: | During regular market hours or pre-market |
☎ Customer Support | 24/7 (Live chat, Email support) |
📚 Education |
Yes
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eToro is used by people who want to do social and copy trading. They have a big community of over 20 million traders from around the world. These traders share their strategies, follow each other, and learn from each other’s experiences.
eToro is good for beginners who want to copy the strategies of experienced traders. They don’t have to pay extra fees to do this. Also, experienced traders can benefit from eToro because they can get more people to follow their strategies. This can help them make more money from new subscribers.
eToro doesn’t charge a fee for copying other traders, which is rare among brokers that focus on copy and social trading.
Most exchanges and brokers only let you trade a few things. But eToro is different. It lets you trade many different things all with just one account. Depending on where you live, you might be able to trade everything eToro offers. But in some places, like the US, you can’t trade forex (foreign currencies) or commodities like oil, gold, or silver on eToro.
eToro lets you trade around 80 different cryptocurrencies, but some are not available in certain places. In the US, you can trade 23 cryptocurrencies, including Bitcoin. The popular ones like Bitcoin and Ethereum make up almost 70% of the global cryptocurrency market.
On eToro’s “Discover” page, you can see which cryptocurrencies are gaining or losing value each day. If you’re interested in one, you can click on it to find out more, like charts, analysis, news, stats, and trading signals.
eToro lets you buy parts of stocks. With eToro, you don’t need $400 or more to buy a Nvidia share. You can buy a small piece of a share, like half or even less, depending on how much you want to invest. The smallest amount you can put in is $10. So, you can buy parts of shares in any stock that’s worth more than $10.
Right now, eToro has more than 4,000 different stocks available. They include big companies like Apple, Tesla, and Amazon. This is a lot more compared to other brokers, especially those that offer contracts for difference (CFDs). Many of those brokers only have about a third of the stocks that eToro offers.
You can pick from more than 400 ETFs on eToro. ETFs are like bundles that follow a stock market index, a specific industry, or even just one thing like gold.
eToro offers different ETFs depending on where you live. Here are some popular ones you can trade on eToro:
eToro lets you trade indices using something called a CFD (Contract for Difference). CFDs are like bets on the direction of an asset’s price, and they allow you to trade indices all day and use borrowed money to increase your trading power. Unlike ETFs, which can only be traded when the market is open.
Because indices allow leveraged trading, you can also make money if the market goes down by selling short. But you can’t do this with ETFs, unless you find an inverse ETF for the index you think will fall.
Here are some popular index choices:
With indices, you can trade markets from around the world, bet on them going up or down, and use borrowed money. But be careful, because while leverage can increase your profits, it can also increase your losses.
Commodity trading means you can make money by trading the basic materials that we use in everyday life. Instead of trading the actual materials, you trade a contract.
You’ve probably noticed how oil prices affect gas prices or how wheat prices affect the cost of bread. With commodities trading, you can make money when prices go up. For example, you can profit from higher oil prices. You can also bet on the prices of gold, wheat, soybeans, or cotton.
eToro lets you trade over 30 different commodities from around the world. Like with stock market indices, you use CFDs (Contract for Difference) on eToro for commodities trading. This setup allows you to trade commodities without having to physically own, for instance, 100 barrels of oil.
On eToro, you can trade:
Commodity prices are influenced by different factors compared to stocks and bonds. So, you can still make money from commodity trades even if the stock market isn’t doing well.
Remember, CFDs involve using borrowed money, which has its own costs and risks. Small changes in the market can lead to big gains or losses. So, be cautious when trading.
Pros | Cons |
---|---|
eToro is really good for copying others when they trade and for trading cryptocurrency. We picked it as the best for both of these things in our 2024 Annual Awards. | When you trade forex and CFDs on eToro, it costs a bit more than other places, even though they’ve reduced spreads and don’t charge fees for trading U.S. stocks anymore. |
It’s super easy to use because the website and mobile app are simple and great for people who are new to investing. | You can’t use automated trading strategies on eToro. |
eToro keeps adding more things you can trade. It has over 3,000 different symbols available. | Having to set stop-loss and take-profit orders might make it hard to use some trading plans. |
If you’re in the EU, U.K., or Australia, eToro gives you insurance of up to EUR 1 million. | Only eToro Club members in higher tiers can access Trading Central’s research and tools. |
Now, eToro lets you buy Bitcoin ETFs approved by the SEC. | |
If you join their club or become a popular investor, you get special perks. | |
eToro has more research stuff now, like a series called Digest & Invest, a podcast called Market Bites, and new videos and articles every week. |
At eToro, they take trust and safety very seriously when it comes to online trading. The company works hard to make sure that their platform is secure and reliable for users. Here’s how we do it:
So in our evaluation process, we’ve seen that the eToto’s priorities are to trust and safety and they are always working to make sure their users feel secure when they trade with them.
Yes, eToro is totally safe, you can trade with them. The broker follows rules from top authorities worldwide, like the FCA in the UK and ASIC in Australia. We can say eToro isn’t a scam but a real business trusted by almost 30 million people with their money. The part of eToro we looked at, eToro (UK) Ltd, is approved by one of the most trusted financial regulators, the FCA. It follows strict safety rules and gives multiple layers of protection. Also, it aims to give the best prices based on market conditions. So, we think it’s safe to trade with this broker.
eToro offers many different things you can trade. They have lots of choices for people who like to trade, from stocks to gold and oil. You can also trade different currencies and popular cryptocurrencies like Bitcoin and Ethereum. eToro wants to make sure its users have lots of options when they trade.
Different types of accounts are important for traders. eToro gives different account options for different traders. They have accounts for beginners and experienced traders. eToro has many features like demo accounts and Islamic accounts. These features help traders in different ways. They show that eToro cares about their traders and wants to help them succeed.
Picking the right account is important. Your account should match what you want to do in the market. You need to think about things like minimum deposits, fees, and how trades are done.
Demo accounts let you try out trading without risking real money. eToro offers demo accounts so you can practice and learn without worry. It’s a good way to get ready before you start trading with real money. You can have a demo account and a real one at the same time.
When you trade on eToro, you won’t have to pay any commission. This means you can buy and sell stocks, ETFs, and cryptocurrencies without extra charges. But, keep in mind that there might be some differences in prices, called spreads.
Account Minimum | To start trading on eToro, you need to deposit at least $50. This makes it possible for many people to join and trade. |
Trading Fees |
eToro doesn’t charge you any fees for trading stocks, ETFs, and cryptocurrencies. However, the prices may change depending on what you’re trading. |
CFD Fees |
When you trade CFDs on eToro, the prices can vary depending on what you’re trading. |
Forex Fees | eToro’s forex trading has prices that are similar to others in the industry. |
Futures Fees | eToro doesn’t offer trading in futures. |
Account Fee | You won’t be charged for having an account with eToro. There are no hidden maintenance or subscription fees. |
Inactivity Fee | If you don’t make any trades for a year, eToro will charge you $10 each month as an inactivity fee. |
Deposit Fee | eToro doesn’t charge you to deposit money, but if you’re depositing a different currency, there might be some conversion fees. |
Withdrawal Fee | When you withdraw money from your eToro account, there’s a $5 fee for each withdrawal. |
Overnight Funding Fee | If you keep your trades open overnight, eToro might charge you an overnight funding fee. |
Currency Conversion Fee | If you’re depositing money in a currency other than USD, eToro charges a currency conversion fee of 50 pips. |
If you use a guaranteed stop order to control risk while trading on eToro, you will have to pay a fee. eToro has a clear fee structure and shows fees transparently, making it easy to understand. Some trades on eToro are commission-free, which helps keep costs down.
eToro won’t charge you for depositing money into your account, but withdrawing money might have a fee. You might also have to pay fees charged by banks. If you don’t use your eToro account for a long time, they’ll charge you $10 each month after the first year of inactivity until you start using it again or your account has no money left.
There are different types of trading platforms: MT4, MT5, cTrader, and eToro’s own platform. Various Choices, eToro offers many different trading platforms to suit different people and skill levels. Let’s look at what they offer:
eToro has easy-to-use apps for both Android and iOS phones. This lets traders keep an eye on the markets even when they’re on the move. These apps show real-time information, are easy to navigate, and allow traders to make trades right from their phones.
eToro’s website has a trading platform that you can access from any web browser. It’s easy to use and has tools to help with trading, like charts and indicators. This platform is good for traders at any level. It also lets you do social trading, which means you can see what successful traders are doing and copy their trades.
Unlike some other platforms like MetaTrader or cTrader, eToro doesn’t have a separate app for desktop computers. Instead, they focus on web-based and mobile trading.
eToro has made its own trading platform. It’s special because it combines social trading, where you can see and copy others’ trades, with a simple design. They also have something called “CopyPortfolios” which lets you invest in groups of assets managed by experienced traders.
Overall, eToro offers a range of trading options. With its unique platform, easy-to-use mobile and web apps, and focus on social and copy trading, it’s suitable for both new traders and those with experience.
eToro has some great tools and features to help buyers make better choices. One of these devices is called Smart Portfolios. With smart portfolios, traders can reproduce assets that relate to specific subjects, places or kinds, such as ETFs, to companies. These portfolios are prepared by eToro professionals and help investors spread their investments without having to pay additional fees for a person to manage them.
Another problem with eToro is Popular Investors. They are people who are really genuine in using eToro and that they get commission from eToro for sharing their expertise. They get a chunk of money based on how many people reproduce what they do. Popular investors are divided into 4 groups, each with its own personal guidelines.
eToro also has fancy charts that help traders understand what’s going on in the market better. These charts let traders look at lots of different things at once and change them to fit what they need.
eToro also has a Trading Academy. It’s full of stuff to help traders learn more about trading. There are classes, webinars, articles, and eBooks. Traders can start learning as soon as they sign up.
eToro doesn’t charge fees for managing your portfolio, but they do charge extra if you keep your trades open overnight or over the weekend. They also add a bit extra to the price you pay for trading certain things. Overall, eToro is seen as a good place for traders because of all these tools. They help traders make decisions and learn together, which makes eToro popular among traders who want more than just basic tools.
eToro is definitely trying to teach people how to trade. They have a unique region called eToro Academy just for that.
Here’s what you can find in eToro’s mastering center:
EToro sincerely wishes people to learn about buying and selling. They have something for everybody whether you are just starting out or have some great stuff to learn.
eToro has a lot of different research materials covering many subjects in different approaches. This makes it easier for people to apply because absolutely everyone has unique approaches that they love to learn.
eToro helps traders a lot with their questions. They have a team ready to help during normal hours and even later. If you need quick answers, you can chat with them from 9 AM to 6 PM EST. But if you have questions outside those hours, you can email them anytime. They offer different ways to get help because people like to communicate in different ways. Also, they have a website with a lot of answers to common questions. It’s really helpful if you’re new to trading or have technical questions.
We checked how good eToro’s support team is. We looked at how well they know their website, how fast they respond, and how clear their answers are. We also asked them a question about how they execute trades and how fast they do it. They replied within two days with a detailed answer. It was easy to understand and gave us all the information we needed.
To make an eToro account, follow these steps:
It usually takes a few hours to a day for eToro to check everything. How long it takes to add money depends on how you do it. Overall, eToro tries to make it easy for anyone to start trading, whether you’re new or experienced. They could make the process even faster by improving how they check documents.
eToro gives you many ways to put money into your account and take it out. These options are safe and easy to use. Let’s look at how you can deposit and withdraw funds:
You can deposit money using different methods like credit/debit cards, bank transfers, PayPal, Neteller, and Skrill. The smallest amount you can deposit depends on where you live, but it’s usually not too much. This means traders with different budgets can join in. When you deposit money, it happens fast. You can start trading almost right away because the money shows up in your account quickly.
Taking money out works the same way as putting it in. You can use the same methods like credit/debit cards, bank transfers, PayPal, Neteller, and Skrill. But, how long it takes for your money to reach you depends on the method you choose. E-wallets usually get your money to you faster than bank transfers. When you take money out, eToro charges a fixed fee of $5. If you take out money in a different currency, there might be extra fees for converting it. Also, keep in mind that your bank or card provider might charge you extra too.
Besides, eToro makes sure your money and personal details stay safe. They use things like SSL encryption and keep your money separate from theirs.
In short, eToro gives you many ways to put money in and take it out of your account. While the withdrawal fee might not be great for some people, the convenience and safety of these methods make the experience positive. They could make things even better by thinking about reducing or not charging fees for certain withdrawal methods.
It’s really important to know where your broker’s subsidiaries are regulated because different places have different rules to keep your money safe. Brokers have different parts of their business in different countries so they can help people from all over the world. But, not all countries have the same strict rules to protect your money.
Here’s what you should look for to make sure your money is safe with a broker:
eToro can be two types of brokers: market-maker or agency broker. Which one it is depends on which part of eToro you’re dealing with. Market-maker brokers handle your trade directly, while agency brokers pass your order to other brokers and get something in return like rebates or commissions.
For example, both eToro U.K. and eToro Europe are usually market-makers, but they can also act as agency brokers if needed to manage risk. The important thing is that brokers follow rules to make sure trades are done fairly, and eToro has to do that when it’s required by law.
Well, not exactly. Even though you don’t pay direct commissions, there are still costs involved. eToro makes money through something called ‘spreads.’ These spreads are basically the difference between buying and selling prices.
So, while there aren’t explicit fees, you’ll still end up paying a bit more than the market price when you trade. This is because of those spreads. It’s how eToro makes its profit. Also, if you decide to keep your trades open overnight, there might be additional costs, but these are all included in what you pay through those spreads.
Basically, eToro isn’t free in the traditional sense, but the costs are built into how they operate, mainly through spreads and possible overnight fees.”
Yes, you can make money with eToro, but like with any broker, it’s not guaranteed. eToro lets you copy trades from other traders in real time. This means you can choose someone to copy and their trades will be automatically copied into your account. But remember, you can also lose money when you’re dealing with things like forex, stocks, and CFDs, even on eToro.
The key to making money on eToro is making smart trading choices and managing your risks well. This means trying to keep your losses low compared to your profits over time. Whether you’re doing your own trading or copying others, this is important.
When you copy trades on eToro, you still need to do some research. You have to look through the list of traders and decide who to copy. You also need to figure out how much money to put into each trader’s strategy, whether to set any limits for how much you’re willing to lose, and if you want to copy trades that are already open or only new ones.
At eToro, they make sure to check the rules and permissions for each part of the business. This helps them see how much they protect customers. We rate these permissions from different groups, with the highest level being Tier-1.
Here’s what we found for eToro:
Our experience with eToro’s platform was excellent. It’s a great choice for traders who want a social and easy trading experience. eToro suits traders who want a simple platform with many assets in one portfolio. Experienced investors will find advanced tools like analysis charts, an economic calendar, and one-click trading. While spreads are a bit high, they’re competitive for such a rich platform. Their focus on education and unique tools helps decision-making. Though not the cheapest, eToro offers a secure trading experience with regulatory compliance. So, if you have specific strategies or seek lower fees, you’ve to research before choosing.
eToro’s main headquarters is in Tel Aviv, Israel. They also have offices in the US, Cyprus, the UK, Australia, and Seychelles.
Yes, eToro is considered safe. It follows rules set by top regulators and meets safety standards.
Yes, eToro is great for beginners. It offers social trading services and has lots of educational material.
You need to deposit at least $50 to start trading with eToro.
You can withdraw money from eToro using bank transfer, bank card, or e-wallets.
Withdrawals usually take 3 to 5 business days for wire transfers. Other methods vary.
For retail traders with eToro (UK) Ltd, the maximum leverage is 1:30.
You can open an account on eToro’s website.
Yes, you can buy bitcoins on eToro. You need to create an account on eToro, link your bank account, and transfer funds to your eToro account. After that, you can buy bitcoins easily.
eToro has its own web-based platform.
Yes, it does.
To start trading on eToro, make sure you’ve registered and verified your eToro Options account. then you need to fund your account, then choose your option and buy your option.
No, scalping isn’t allowed on eToro.
No, you can’t auto-trade on eToro.
Yes, you can buy Apple Stock CFDs at eToro.
Yes, you can hedge with eToro.
No, eToro doesn’t offer spread betting.
No, it doesn’t.
Trading hours vary depending on the asset class. For example, Forex is open 24/5, and US stock trading is from 9:30 a.m. to 4:00 p.m. EST, Monday to Friday.
Yes, eToro operates as a market maker.
No, eToro does not operate as a bank.
I want to know more about the eToro company. Can you help me?
Sure, we have covered many topics about eToro, so you can know this broker in depth.
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