Introduction or Skip Content and Read the Bottom Line!
eToro was founded in 2007 and is one of the pioneers in social trading. It currently has more than 20 million users. Is this a good brokerage firm? Let’s find out in this review. Our experts have done a comprehensive test of eToro so what you’ll find here is unbiased and real results based on our own experiences.
|Minimum account size||$10 – $200|
|Minimum lot size||0.01|
|Spread on EUR/USD||1 pip|
|Payment methods||Credit/Debit Cards, China Union Pay, Giropay, Neteller, PayPal, Skrill Limited UK, WebMoney, Wire Transfer, Wirecard, Yandex|
|Demo account||Unlimited time|
|Accepts US traders||Yes|
|Regulated||CySEC (Cyprus), FCA (UK), FinCEN (US)|
|Support||Email, Live Chat|
68% of retail CFD accounts lose money.
To open an account, you need to provide the following details:
- First and last name
- Preferred username
- Email address
- Preferred password
- Phone number
There are some countries which eToro doesn’t support and this includes Singapore, Taiwan and Hong Kong.
To fully use the platform, keep in mind that you need to verify your account and to do this you need to submit these 2 proofs::
- Proof of identity (POI)
- Proof of address (POA)
If you want to sign-up with eToro now, you can click on the button below and we’ll take you straight to the registration page:
Account Types 10/10
eToro’s assigns account types for their clients based on their equity size. The tier is as follows:
There’s no need to apply for the club membership because this is automatically assigned to you. You will see your club tier on your profile.
Demo Account 10/10
To test the platform, it is best to use the practice account which has $100,000 virtual funds on it. You can easily switch from real money mode to demo with just a few clicks on the interface.
How to access the eToro demo account?
You’ll be able to access eToro’s demo account right after you finished the registration process. Once you are taken to the main platform, there’s a dropdown menu on the left column where you can toggle between “Real” and “Virtual Portfolio”. Click on “Virtual Portfolio” to launch the demo account.
Payment Methods 10/10
You can deposit funds into your account using the following methods:
- Credit and debit cards
- Skrill Limited UK
- Wire Transfer
These are the most common payment gateways so you have lots of options.
Minimum Deposit 8/10
The minimum deposit is $10 for traders who are based in the US and UK. For other countries, the minimum ranges from $50 to $2000. Israel is the only exception with a minimum requirement of $10,000.
The platform is available in a web-based version and downloadable apps for smartphones running in iOS or Android. There’s no MetaTrader platform.
Here’s a preview of their platforms:
So how do you trade on eToro’s platform? Let’s say Apple stocks.
Want to see it in action? Watch this short animation to find out:
Tradable Assets 9.5/10
You can choose from more than 3000 instruments on the platform and with so many markets to explore, this warrants an excellent score.
Minimum Lot Size 10/10
With a low lot size, the risks are lowered and you can even do some experimenting on your trades.
It’s a good thing that eToro allows a minimum lot size of 0.01 which is why they earned the highest score.
Trading with 0.01 lot is the ideal size although this would still depend on your risk management strategy.
eToro offers variable spreads. It may not be the narrowest in the market but these numbers still definitely warrant a high score.
Quotes Accuracy 10/10
The quotes on the platform never showed any discrepancy from the prices we saw on the market during testing. It was accurate and not rigged.
Withdrawal Time 10/10
Processing of withdrawal request will take just 1 working day. Keep in mind that it takes a few more days to receive the actual funds and this will be primarily based on the payment method you selected.
Customer Support 10/10
Make sure to check the Help Center first before you decide to contact their support team. You’ll find plenty of useful information and guides in this page.
And if you can’t find the answers, you can easily get in touch with one of their agents via the most common methods of communication: email or live chat.
The choice is actually yours.
Calling the phone support was a no-brainer and there was no waiting time as we were easily answered by an agent in just a few seconds.
There’s also email support and live chat which the new and modern way to contact this broker.
The excellent customer service warrants an excellent score and we never hesitated to give them a perfect rating.
eToro is no doubt one of the best brokers out there. They have a very stable platform that allows you to trade not only on your own but also the opportunity to copy other professional traders via their social trading network.
There are over 3000 assets to invest on so you have plenty of trading opportunities. Making a deposit is easy and cashing out the funds if you choose to withdraw is also fairly simple. Just make sure your account has been verified
Lastly, it has a very friendly and reliable support so you know that there’s someone you can get in touch with for any concerns or issues.
Overall, this is the best broker to choose whatever market you prefer and experience you may have so be sure to open an account with this reputable brand and don’t get left behind!
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.
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.