Minimum Deposit: $200
Regulation: CySEC (Cyprus), FCA (UK)
Spread On EUR/USD: 3 pips
Tradable Assets: 1000+
Maximum Margin: 1:30

eToro Broker Review 2020

eToro

9.6

Platforms

9.6/10

Tradable Assets

9.5/10

Spreads

9.0/10

Customer Support

10.0/10

Credibility

10.0/10

Pros

  • Advanced social trading network
  • Real-time quotes
  • All-in-one platform
  • Wide range of payment options

Cons

  • No MT4 platform

eToro is a multi-asset platform which offers CFD and non CFD products.
75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


Easily sign-up with eToro for free via the form below!

eToro is a social investment network company that was founded in 2007. This multi-regulated company is widely known to be the pioneer in integrating online trading with social media and now they have more than 10 million users across the globe. Is this brokerage a good choice for trading? Let’s find out.

 

Want to know more about eToro?

Let’s continue exploring the vast potentials and the advantages we get to have with eToro in the succeeding sections of this review. They are all meant to keep you wondering and to keep you interested.

 

The simple plain truth is…

This CFD service is not perfect but any one of us can take the lead in learning from these advantages and disadvantages and how these will work FOR YOU and not against you.

Let’s look at the nitty-gritty details!

 

eToro Overview
Founded 2007
Platform eToro
Minimum account size $200
Minimum lot size 0.01
Tradable assets 1000+
Maximum margin 1:30
Spread on EUR/USD 3 pips
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 No
Regulated CySEC (Cyprus), FCA (UK)
Support Phone, Email, Live Chat
Website www.etoro.com
75% of retail CFD accounts lose money

 

Visit eToro Site

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Registration 10/10 5 out of 5 stars

Registration is done online via their website and you’ll only need to provide the following details:

  • First and last name
  • Preferred username
  • Email address
  • Preferred password
  • Phone number

 

And another thing…

If you have a Facebook or Google account, you may also sign-up and link them. Do take note that your details should be factual since eToro will need to verify your identity.

eToro registration page

eToro registration page

And speaking of verification, this is something that you need to complete in order to fully use eToro’s platform.

Such process is mandatory in accordance with regulatory requirements to keep their platform secure and prevent fraud.

 

How to verify your eToro account?

In order to verify your account with eToro, you will need to submit the following:

  • Proof of identity (POI) – This document must have your full name, birth date, photo, date of issue and expiry date of the document (if applicable). Here’s a tip:If you have a passport, this would be the best POI to submit as this is the fastest document that they can process.You may also use any ID that has been issued by government such as a driver’s license. If the document is double-sided with relevant information on the back, be sure to include this detail.
  • Proof of address (POA) – This document must have your complete name, address and date of issue which should be within 6 months. It also needs to have either issuer’s name or logo.You may use any of the following documents as proof of address:
    • Credit card statement
    • Bank statement
    • Phone bill
    • Internet bill
    • Utility bill such as electricity, water or gas
    • Council tax bill
    • Tax letter or bill
    • House rental official agreement that was issued by a rental agent
    • Letter from your employer
    • Letter from your local municipality

    Here’s a tip:

    If your POA was taken from a digital document, you can take a screenshot of it and submit this to eToro.

     

The verification may take a few days to process and once it’s complete or anything else, you will get a notification from their customer service team.

When your account is verified, you’ll be able to see a green tick beside your username when you access your profile.

 

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:

 

Visit eToro registration page

75% of retail CFD accounts lose money

Account Types 10/10 5 out of 5 stars

Instead of account types, eToro has a tiered membership system called the eToro Club and this will be based on your equity rather than your deposit.

As of this writing, these are the club membership tiers that they have:

  • Silver
  • Gold
  • Platinum
  • Platinum+
  • Diamond

Every membership tier will have exclusive features and perks and of course, the higher your tier is, the benefits you get to enjoy.

eToro Club membership tier

eToro Club membership tier

Here’s the deal:

You don’t have to apply or request to be a part of the eToro Club because you will be automatically assigned to the right club tier after the equity requirements have been met.

Demo Account 10/10 5 out of 5 stars

If you have no idea on how to use eToro’s platform or would like to explore it first without risking real funds then utilizing the demo account is the best way to do that.

The demo account is practically the same as the Real account and the only difference is that it is in virtual mode so you can execute trades as much as you like and familiarize yourself with the platform.

eToro demo account

eToro demo account

This account will have an initial fund of $100,000 which is most likely more than enough for you to use for doing practice trades and try out different strategies.

If your virtual funds have been used up, you can get in touch with their customer service team and request to have it topped up with additional funds.

The only downside of course is that this is in practice mode so there are no real profits or losses here.

We strongly recommend that you take advantage of this feature especially if you’re a newbie. You might also want to read our beginner’s guide to forex trading in order to understand the basics prior to using the demo account.

 

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.

How to access eToro's demo account

How to access eToro’s demo account

Open an eToro demo account!

75% of retail CFD accounts lose money

Payment Methods 10/10 5 out of 5 stars

Funding your account is the next step to be able to access the platform in real money mode and start trading.

 

Good news:

It’s easy to add funds to the account since eToro support a wide selection of banking methods. This includes the following:

  • Credit and debit cards (Visa, Mastercard, Diner’s Club)
  • China Union Pay, Giropay (Sofortüberweisung)
  • Neteller
  • Skrill Limited UK
  • WebMoney
  • Wire Transfer
  • Wirecard- Wire and Credit Card
  • Yandex
  • PayPal

Do take note that the time it takes for the funds to appear in your trading account will depend on the payment method that you selected.

Usually, funds are instantly deposited via credit/debit cards and online banking while Wire Transfer may take 3 to 5 business days depending on the value.

eToro deposit page

eToro deposit page

Your capital is at risk
 

Put it this way:

The more ways you can deposit, the better. Such variety of ways for funding adds more convenience and lessens the hassles. No doubt, this deserves a perfect score.

Minimum Deposit 8/10 4 out of 5 stars

Opening an account at eToro necessitates an initial deposit of $200 and this amount is considered to be average.

Such matter may be of a concern if you’re a newbie but think of it this way: if you’re serious in trading, then such amount won’t matter that much because you are most likely to make another deposit anyway in the future.

 

Now consider it this way:

You already have just the right amount of funds which you can use for investing on a couple of instruments or copying traders in the platform.

Please note that the minimum first-time deposit may still vary depending on your region and country regulations.

A corporate account also has a minimum first-time deposit requirement so if you’re planning to open this type of account, you need to check this with their customer support department.

 

Get started with eToro!

75% of retail CFD accounts lose money

Platforms 9.6/10 4.8 out of 5 stars

They now have an all-in-one platform which integrates all the features of their previous platforms with all the tools you could possibly need to manage your trading portfolio.

If you’re going to use a PC or a laptop, you won’t need to download or install anything since this is purely web-based and can be accessed directly from a web browser.

 

There’s more…

If you’re using a mobile device then you can install their app for iOS and Android. These were optimized for smartphones and tablets so you’ll be able to execute trades on while you’re on the go.

Whatever platform you choose, the thing is eToro has a very flexible social trading system so you can easily set the amount that you want to automatically copy.

You’ll have the option to either copy all the open trades or only the new trades of your selected investor.

There are no limits on the number of users that you can copy so you have the liberty to browse thousands of profiles and copy their trades to increase your chances of generating profitable yields.

Unfortunately, they don’t offer the MetaTrader platform but with such amazing features from their in-house platform, this minor downside for us is acceptable.

This complete set of online investment solutions deserves a perfect grade on our scoring table.

Design 10/10 5 out of 5 stars

Regardless if you’re accessing the platform on a web browser or via their mobile apps, the user interface is very much the same so even if you switch between platforms, you won’t get confused since the theme is uniform.

 

How can you actually use this?

It’s definitely an advantage since other brokers tend to have different designs for every platform but with eToro, the layout is pretty much identical.

Here’s a preview of their platforms:

eToro web-based platform

eToro web-based platform

Your capital is at risk
 

eToro Android mobile app

eToro Android mobile app

eToro iOS mobile app for iPhone and iPad

eToro iOS mobile app

Your capital is at risk
 

They have done a fantastic job in making their page very visually attractive and what’s even better is that they always make constant updates and improvements.

Tradable Assets 9.5/10 4.8 out of 5 stars

With more than 1000 choices, it’s very easy to find an instrument that has promising returns and profit opportunities and such variety warrants an excellent score.

eToro tradable assets

eToro tradable assets

Get started with eToro!

75% of retail CFD accounts lose money

 

eToro’s selection of trading instruments is grouped according to the following categories:

Currencies

There’s around 50 currency pairs that you can trade on the platform. You can invest not just on the majors but other pairs as well including the EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/JPY, USD/CHF, AUD/USD, USD/HKD, USD/ZAR, USD/RUB, USD/CNH, EUR/NOK and GBP/CAD among many others.

Commodities

As of this writing, they only have 6 commodities but the good news is that they offer the most commonly traded ones including oil, gold, silver, copper, natural gas and platinum.

Indices

The number of instruments in this category is also limited although they have the common indices such as AUS200, China50, DJ30, ESP35, EUSTX50, FRA40, GER30, HKG50, JPN225, NSDQ100, SPX500, UK100 and USDOLLAR.

Stocks

If you’re into trading shares CFDs then eToro is definitely one of the best brokers out there as they offer plenty of options.

And with so many choices, their platform will allow you to explore the stocks by industry or exchange. And just to give you a preview on how they intuitively categorized this instrument type, we’re giving you a preview on how the assets are grouped by industry:

  • London – These are companies listed in the London Stock Exchange such as Ryanair, Metro Bank PLC, On the Beach, Lloyd’s, Next and Sports Direct.
  • Technology – Popular brands include Nokia, Twitter, Shopify, Facebook, Snapchat Inc., Oracle Corporation and Samsung Electronics.
  • Consumer Goods – Among the known names in this sector are Harley-Davidson Inc., Tata Motors, Novartis, Xiaomi Corp, Heineken and Danone.
  • Services – You’ll have the choice of over 250 companies such as JC Penney, William Hill, Tesco, easyJet, Etsy Inc., Alibaba and eBay.
  • Financial – With 300+ stock brands in the financial sector, there are plenty of choices like Royal Bank of Scotland, AXA Group, Berkely Group Holdings, FinecoBank and DNB.
  • Healthcare – You can invest on known brands in the healthcare industry including Sartorius AG, Akorn, Sanofi, Pfizer, AstraZeneca, GlaxoSmithKline, Abbott Laboratories and Johnson & Johnson
  • Basic Materials – Names like Nordex, Total S.A., BP, Royal Dutch ADR and Rio Tinto are listed in this industry.

Crypto

If you want to ride the wave of the cryptocurrency craze, then eToro is also a good choice because they offer CFD trading on a selection of digital coins including Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Cardano, IOTA, Stellar, EOS, NEO, TRON, ZCASH, Binance Coin and Tezos.

But remember this:

Trading cryptocurrencies via CFDs is not the same as buying/selling cryptocurrencies from an exchange.

ETFs

This gives you 140+ thematic investment options for various industries like biotechnology, wheat and natural gas futures contracts.

Minimum Lot Size 10/10 5 out of 5 stars

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.

 

Remember:

Trading with 0.01 lot is the ideal size although this would still depend on your risk management strategy.

Spreads 9/10 4.5 out of 5 stars

eToro’s spreads are still well within the competitive range as compared with the spreads of other popular brokers.

 

Fact is:

Most of the assets have around 3 to 4 pip spreads which are standard for most platforms. It may not be the narrowest in this industry but it is still considered to be very competitive compared with its peers.

For example, the spread for the EUR/USD currency pair is 3 pips on average. These numbers still warrant a high score.

 

Trade now with eToro!

75% of retail CFD accounts lose money

Quotes Accuracy 10/10 5 out of 5 stars

It’s highly essential to know if the quotes or market prices that you are receiving from your broker are accurate because this is where you will base your trading decisions.

 

In addition to that…

This is also a good way to test if they are indeed giving you the correct market prices or if they are controlling the values in their favor.

eToro quotes accuracy

eToro quotes accuracy

Allow us to explain:

In order to determine the accuracy of the quotes on eToro’s platforms, we’ve done a series of stringent tests and after a thorough investigation, we were able to conclude the prices that they show were never manipulated or delayed.

eToro’s platform quotes are synchronized with the actual market prices.

Withdrawal Time 10/10 5 out of 5 stars

Now how about the withdrawals?

While most traders complain about the delays in the processing time of their withdrawal requests with their brokers, our experience with eToro in this part of the test was very smooth and didn’t take too long to accomplish.

As long they have all the necessary information, the withdrawal processing time only take 1 business day while the time it takes to receive the payment may vary depending on your payment provider.

Customer Support 10/10 5 out of 5 stars

There are plenty of ways to contact the support department but is recommended that you first refer to their Help Center and enter your queries because you are most likely going to find the answers there.

eToro Help Center

eToro Help Center

Your capital is at risk
 

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: phone, email or live chat.

The choice is actually yours.

eToro customer support

eToro customer support

Your capital is at risk
 

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.

Via the email support, we got a reply from them within an hour and their responses were pretty detailed so we got the answers that we were looking for.

 

And lastly…

There’s also the live chat which is a very convenient way to contact them with just a few clicks. This is a great option if you want to talk to a real person and need fast answers.

eToro live chat

eToro live chat

Overall, we were very satisfied with our experience with eToro’s customer support across all the available channels and most notably because of the fast and detailed answers.

The excellent customer service warrants an excellent score and we never hesitated to give them a perfect rating.

 

Get started with eToro!

75% of retail CFD accounts lose money

Credibility 10/10 5 out of 5 stars

After doing an extensive research about this brokerage, we’ve learned that their reputation remains untarnished in many countries.

Since they started their operations in 2007, they easily managed to become world’s most popular trading platforms.

eToro is widely known to be the pioneer in the social trading industry and that is proven by their massive 10 million global users. Such number is no doubt an indication that they are a credible brand.

 

To top it off…

eToro is the biggest sponsor for the Premier League’s 2019/20 season having partnerships with 6 clubs. Having such sponsorship means that this is a real big and financially stable company.

 

It all boils down to this:

A brokerage like eToro that has built a solid reputation and integrity in this market deserves a notable score.

Regulation and License 10/10 5 out of 5 stars

eToro operates in various countries and has been able to get a license from the following international financial regulators:

 

Conclusion 9.6/10 4.8 out of 5 stars

eToro provides a suite of online investment solutions where the turnover opportunities are very promising thanks to their innovative combination of online trading and social media.

Not only will you be able to trade and invest on financial assets across several categories but you will also be able to copy leading investors on their expansive social investment network of over 10 million+ users.

But that’s not all…

The credibility of eToro is not questionable as it has proven to be one of the most regulated brokers worldwide and among the most well-known names for social trading.

The point?

Regardless if you’re a newbie that is looking for a safe entry into the trading scene or an advanced trader that is looking for higher rewards, eToro’s global multi asset investment platform is your best choice.

So don’t get left behind!

 

Sign-up with eToro!

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. 75% 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.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.


 

 
39 Comments
  1. Etoro’s platform has improved a lot. It’s much faster and easier to load now 👍

     
  2. Hi Caleb, as per my understanding they do allow trading of Dash but not Abra.

     
  3. How many cryptocurrencies were in the eToro platform? Do they allow trading of Dash and Abra?

     
  4. Copy trading with eToro was easy and I guess you can copy trade everything on the assets lists.

     
  5. It seems that copy trading with eToro is really simple, may I ask if you can trade all the assets in the index list?

     
  6. If you want to copy trade under eToro platform just make sure you register, look at their platform and look for the copy trading section and you are good to go.

     
  7. Are there simple steps to follow when copytrading with eToro?

     
  8. I agree with Tanner, nothing wrong with trading everyday but make sure you check on you balance because over trading is not a good way to earn profit.

     
  9. I don’t see anything wrong with trading everyday as long as you have the funds for it. If you have losing streak in a week make sure you stop a while and analyze your portfolio.

     
  10. Was it okay to trade on a daily basis or not?

     
  11. What a great profit, its around $25 per day in a 30-day period. It is if he was trading everyday with eToro. Good job!

     
  12. My friend who traded with eToro just raked $750 in profit after a month of trading with them. He made a deposit of $250, is that still minimal with you? I think its great.

     
  13. What do you mean by minimal? Up to what percentage you are talking about Peter?

     
  14. I am doing some copy trading with etoro, and I got to choose which one I think is better, and the payment for the successful trade was just minimal.

     
  15. Hi Florian it is always possible to copy trades of expert traders in the etoro platform, you just need to pay a bit of a commission if the trade goes successful

     
  16. It is possible to copy trade, you may choose from different expert trader in the etoro platform

     
  17. How can I copy the trades from expert etoro traders?

     
  18. You can trade bitcoin, litecoin, ripple, (and more)…

     
  19. I like trading ethereum but I am torn between etoro vs poloniex? Which one will you choose if you were on my shoes? By the way, I am from Ontario.

     
    • Polionex is a digital exchange while eToro offers CFD trading with very good spreads to start with. Unfortunately, etoro is no longer accepting traders from Canada so you better check which brokers is allowed in your area of residency.

       
  20. Has anyone tried trading cryptocurrencies like Bitcoin? Any feedbacks?

     
  21. Are you having issues when using paypal as your mode of payment with etoro?

     
  22. Have you heard about the etoro promo code? Or have you used one?

     
  23. Most successful traders for social trading comes form eToro and I most of my friends attest to it. Do I need to go beyond the knowledge of trading or do I need to join the bandwagon now?

     
  24. You need not to worry about social trading and the factors that affects the result of the trade if you are trading with the leading social trading platform like etoro. They have helpful staff to assist you if you need one.

     
  25. Etoro will educate you more about social trading by teaching you who to follow best to earn more profit and will give you proper evaluation why you need to follow the person and their trade.

     
  26. Etoro’s social trading is a lot easier for me to understand. Currently, I am following Kenneth Moway, Emmanuel le Bihan and Markus Katzmaier on their network and so far the returns are coming in nicely.

     
  27. It’s a lot easier to trade with Etoro compared to the other brokers I have tested. I simply copy those who are trading well and just wait for the profits to come in. This is amazing!

     
  28. At first I thought trading is just for those who know about the markets well. Seriously, who knew trading can be this easy?

     
    • Agree. This social trading thing from eToro makes it a lot easier to invest and get a sizable return if you know who to follow and when to copy their trades.

       
  29. Copying other traders gives me a high especially when it turns out to a win or profit

     
  30. I like in Atlanta, so glad I found eToro, very few honest brokers out there today.

     
  31. What are the different cryptocurrencies you can copy trade with etoro?

     

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