EToro doesn’t have an account minimum that you must maintain. However, you must transfer at least $50 into your account when you make a deposit. EToro only offers one type of account — a standard, individual brokerage account. It doesn’t offer joint accounts or custodial accounts, and there are no retirement accounts such as IRAs offered on the platform. While most people use platforms like eToro to trade, not invest for retirement, this is a major drawback compared to even some of the other tech-focused brokerage apps. EToro is one of the few brokers that allows customers to trade stocks, options, and cryptocurrencies in the same place.
EToro offers over 25 different cryptocurrencies for U.S. investors. While U.S investors can buy Bitcoin and Ethereum, they cannot buy many top twenty cryptos such as Cardano , Solana , and Polkadot . The versatile trading platform is a standout, as is the CopyTrader feature that allows you to copy your favorite investors. It has a broad range of products for investors who want to manage all their assets in one place. A “Trading” tab lets you view prices and buy, sell, or convert crypto, ETFs, or stocks. There is a limited menu of assets that you can trade, as eToro offers 24 cryptocurrencies, 2,096 stocks, and 263 ETFs as of Jan. 27, 2023.
Fees
Eszter has been writing and editing BrokerChooser’s content since 2021 bringing her more than a decade-long experience in journalism to the team. She has been covering world affairs and several financial crises, and recently has been diving deep into SEO and coding to make BrokerChooser’s content more accessible to users. In addition to its adherence to regulatory requirements, eToro has proven to be a reliable investment platform. Digital assets are risky, check out the Risk Disclosure Document on your platform of choice for more details and consider getting advice from a professional. EToro has a fresh interface that is easy to use and is particularly aimed at novices.
For non-US customers, it is free to deposit your local currency, but there will be a currency conversion fee to deposit and withdraw funds. EToro has a number of useful services making it a popular broker around the world. Maybe you should check out our Smart Portfolios, curated by eToro analysts. Each with its own unique investment strategy, Smart Portfolios are a convenient and diversified way to access major market trends shaping our world today, without paying portfolio management fees.
Click on the ‘Portfolio’ tab, then go to ‘History’, and under the settings icon at the top right, you can access and download your account statement. This is a well-structured pdf file showing all your cash flows, including fees. When you are following someone, you will see all trades separately. However, fees are not added up, but listed individually by fee deduction. EToro has a $5 withdrawal fee, which is high, compared to other CFD brokers. In addition, eToro has a $30 minimum amount limit on withdrawals.
In the beginning I was a little skeptical to try eToro, or any Forex trading platform for that matter. I was new to the world of currency exchange and I could not find any trading communities. This is when I discovered eToro OpenBook, a massive and friendly trading community. I decided to give it a try and I cannot say that I’ve ever had any problems. I have tried 3 other Forex platforms including MT4 and It’s safe to say that I’ve thoroughly enjoyed eToro the most!.
Therefore, this option is very appealing to users who do not have much previous experience in cryptocurrencies. Our research team conducts thorough testing on a wide range of features, products, services, and tools . We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
These offerings combined with the site’s interactive nature can make the user experience feel more akin to a social media platform than a traditional brokerage service. In addition to these areas, another unique aspect of the platform is embedded ESG ratings that score assets based on socially conscious factors. You can also filter for ESG scoring in the trade search menu. The company’s flagship offering is the social investing feature, CopyTrader. Users can quickly find investors to follow and copy trades based on investor star ratings, coin interests, and performance metrics. With a minimum investment of $200 for this dynamic, traders can copy up to 100 investors simultaneously.
Trading Technology
Whenever I had a problem, support was always 1 button away. Deposits and Withdrawals are a breeze and the number of special offers and promotions eToro releases is spectacular. To put it bluntly, eToro gave me lots and lots of money to trade with – for no specific reason at all! Beginner investors may feel more comfortable with the app’s familiar feel, since eToro is not modeled like other traditional brokerage offerings. Experienced traders looking to execute orders without the social feel may find eToro to be a bit of an adjustment, but overall the mobile app is very intuitive. Full BioMark’s experience in financial services includes unique exposure to robo-advisors, brokerage platforms, trading systems, and the fintech ecosystem.
If you’re new to fractional stock investments – here’s how it works at eToro. At eToro, the minimum stock investment is just $50 – irrespective of how much the shares are priced at. Using firewalls and data encryption, eToro works tirelessly to ensure the trading community is safe.
If you know which asset you want to buy or trade – use the search box at the top of the page. As you can see from the below, we are searching for ‘Twitter’ stocks. For US-based traders, eToro is also registered with the Securities and Exchange Commission and Financial Industry Regulatory Authority . There is no requirement https://broker-review.org/ to deposit any funds or even upload any ID to use the demo account – which is great. First and foremost, if you are a US resident depositing in US dollars – you can fund your account without paying any fees. Everyone else will pay a foreign conversion fee of 0.5% – which is multiplied against the size of your deposit.
With a very attractive design that facilitates trading even for novice traders, eToro stands out as a broker that facilitates trading for experienced users as well as for beginners. Below are the precise eToro fees and commissions you should know before you start using the platform. In addition, we will have a quick look as well at eToro’s non-trading fees.
eToro Review
Etoro has been one of the leading trading platforms in the field of contract for difference, social, and copy trading since 2007. Overall you can invest in more than 2,000 different assets and markets. Since 2017, the range has also been expanded to include new digital currencies like Bitcoin, Ethereum, and more . The Etoro brand is backed by an innovative company that wants to clearly differentiate itself from other providers by inventing the best trading platform. Online trading platform and broker eToro was launched in 2013. No commission is charged for buying, selling, and trading thousands of assets.
- Currently, eToro’s minimum investment for the MetaverseLife is $500.
- We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels.
- There are only a few places where you can trade cryptocurrencies and stocks in the same place, and those that offer both tend not to have a huge cryptocurrency selection.
- Once you’ve created an account on eToro.com, registering for eToroX is only a matter of one click, as your eToro account allows you to access both trading platforms.
- If you plan to keep your crypto purchases on the eToro platform and never move them elsewhere, this difference may be a matter of semantics.
- Except for US clients, eToro customers can also trade real stocks , in which case they will own the stock in question.
You can also add traders to your ‘watchlist’ – meaning that you will be notified if and when they comment or ‘Like’ post on the eToro website. You can also find your preferred market by using the search box at the top of the page. Either way, once you have found the asset you want to buy or trade, the process of setting up an order is also simple.
What is Forex trading?
Our eToro trading platform review was particularly keen to explore the platform’s claim as the “world’s leading social trading network”. For those new to the phenomenon, this works in a similar way to social media platforms like Facebook. For example, you have the option of uploading a photo to your profile and choosing a username. This is in stark contrast to other online trading platforms that are jam-packed with overly complex tools and features.
Trading Platforms
The eToro platform offers an active user community and social features like news feeds for specific coins available for trading. Chatting with others and diving into social feeds can provide a great introduction to the crypto world. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review. Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions.
EToro’s standard customer support is limited, offering only email contact or a support ticket option. EToro Club members can also receive customer support via live chat and phone, though methods of contact depend on the level of club membership. Only members at the silver level and above — which requires equity of $5,000 or more — can call to speak to a representative directly. Spread is the differential between an asset’s ask and bid prices at a specific moment. Etoro has a versatile asset spread range, with the minimum valuation being one pip for EUR/USD and USD/JPY and the highest being 600 pips for DowJones. No matter if indicators, technical drawing tools, or fundamental data of an asset, Etoro offers you the necessary functions.
Overall, I would recommend eToro as a trading platform, especially if you’re interested in social trading and a diverse range of financial products. The short answer is yes, as much as cryptocurrency assets can be safe on any crypto platform. Like most major exchanges, the majority of cryptocurrencies stored on eToro’s platform are kept in cold storage, meaning it is kept on servers not connected to the internet. The company maintains some crypto in “hot wallets” for liquidity purposes. EToro also has several user level protections such as Two-factor authentication and account encryption. The selection for crypto investors in other countries includes almost all the top 20 cryptos by market cap.
You can trade a wide variety of cryptocurrencies on eToro. If you only trade the most popular stocks, like Microsoft or Apple, you probably won’t notice the lack of smaller stocks. EToro will, from time to etoro broker review time, make new stocks available for trading, usually in a batch. Investing in themes means, for example, investing in a portfolio of Future Payment systems, DroneTech, Renewable energy or cryptocurrencies.