eToro Review – Our Experience, Fees and more
- Free eToro demo account
- Simple and user-friendly platform
- Good mobile trading platform
- Many assets
Broker eToro is a very popular, innovative and trusted CFD broker that has been providing its services since 2007. eToro has gained the trust of millions of people from over 200 countries around the world. It is one of the main players in the online financial markets and its brand is a guarantee of quality services.
The eToro platform is intuitive, innovative, superbly secure and offers low fees. But what this broker builds on and the main reason why it is so popular is the eToro social trading platform. The broker allows its users to copy the trades of other traders, which is why even users without extensive knowledge of investing can become profitable. This type of trade copying is called social trading.
But is this way of trading really as simple as pressing CTRL + C and CTRL + V, or is etoro a scam? What are eToro’s fees and what are the reviews of real users?
You will learn this and much more in our detailed eToro review below!
eToro review table of content:
1) eToro platform
2) What can you trade with eToro?
3) eToro social trading
4) eToro registration proccess
5) eToro demo account
6) Deposit and withdraw
7) eToro fees
8) How to start trading with eToro
9) Your experience (discussion)
eToro broker platform
Of course, eToro is not the only broker offering social trading, but it is the biggest and most popular one among the users. In addition to copying eToro traders, you can of course also trade for yourself.
You don’t have to download and install any apps to be able to trade with eToro, because eToro works on a synoptic web platform. Their platform is not only brilliantly intuitive, but also fast and available in mobile versions for both Android and iOS.
The eToro platform offers the trading of hundreds if not thousands of stock assets, which of course include stocks, cryptocurrencies, indices and more. With the eToro broker, just as in any other platform, you can view basic information about each asset, that is, for example, current price graphs with adjustable parameters, technical indicators, and other various graphical tools.
As mentioned above, eToro does not only allow copying successful investors – this method is just one of the available options.
The elementary and common platform of the eToro broker (see above) does not provide you with much of an ability to customize given graphs, draw lines, or use indicators. To access the interactive, more advanced graphs, you need to open it by clicking the opposing arrows (“fullscreen”) in the top right corner.
Then you access the handy Pro Charts tool, in which you can enter anything, add indicators, or even compare two assets against each other (see below).
Just click on the pencil with the graph in the top right corner of the graph.
Besides the aforementioned Pro Charts function, the eToro broker also offers many other great features that you will surely appreciate as a trader. These features include statistics, surveys, and the ability to talk to the community about given assets and know what the community is talking about (see the picture below).
What can you trade with on eToro?
eToro Broker manages and provides trading of hundreds of different assets. There is something of interest for everyone here.
The current and accurate list of all assets can be found on the company’s official website.
Here are some examples of assets that the broker currently provides:
- Shares (e.g. Apple, Google, Facebook, and many others)
- Commodities (e.g. gold, oil, gas, and others)
- Forex (e.g. EUR / USD, USD / JPY, EUR / GBP and many others)
- Cryptocurrencies (e.g. Bitcoin, Ethereum, Litecoin, and many others)
- Stock Exchange – ETFs (e.g. Proshares Ultra S&P 500, SPDR Gold, Emerging Markets Index and many others)
- Stock Index (e.g. Nasdaq, DAX, Dow Jones and many others)
eToro social trading
We’ve already stated at the beginning that eToro provides social investment, but how exactly does it work?
It is actually very simple.
There are tens of thousands of different traders who let their portfolio and trades be public for other traders to see.
You can then easily filter these traders by your own criteria and if you like one of them, you can copy their trades. You can compare traders to each other by their success, by trades, by profits, or by assessing the risk of their strategy.
If you choose to use the trade copying feature and begin to copy the trader, all of his or her transactions will be reflected in your account. Therefore, all you have to do is allocate a portion of your capital to the copied trader, the minimum being $ 200 – however, you do not have to worry, as you can control your loss by setting a maximum loss value.
The CopyPortfolio platform works on a similar basis, but in this tool, you do not copy individual traders but groups of top traders.
eToro registration process
How to register and start trading with eToro? It’s pretty quick and straight forward.
The registration process is similar to that of any other broker.
You will be asked to fill in a few forms to which you must provide copies of personal documents such as your identity card or passport. To provide some kind of proof of identity is a basic condition of all regulated brokers. Some even require a “selfie” with the given document. This authentication is necessary for preventing money laundering.
|Broker||Bonus||Min Deposit||Payout||Review||Open Account|
| ||Great social trading platform||200 USD||*||Review||Trade Now!|
eToro demo account
Before you start trading with real money which you might lose, you may first want to try trading on eToro using their demo account. On this eToro demo account, you’ll be given $ 100,000 of so-called “testing” money.
This unlimited trial account will then allow you to test all your strategies, from copying other traders to your own investments with no risk at all.
There is very little difference between the demo account and the real one. All you have to do to begin trading with real money is transfer money to your credit via the Deposit Funds button, enter the amount, and then choose your payment method.
Deposit and withdrawal of money at eToro
How to deposit money to eToro? Recently, a lot of changes have been made to eToro’s deposits rules. The broker has increased and decreased the minimum deposit value several times within a relatively short time. The reason why? eToro has been enormously popular in 2017 and in order to maintain the quality of the services offered, the platform decided to increase its minimum deposits.
A few weeks later, eToro reduced its minimum deposits. So, the minimum deposits increased from $ 50 to $ 100, then to $ 200, $ 400, and in January 2018 the minimum deposit was $ 500.
Today, the minimum deposit is set to $ 200 and the minimum value of one transaction is $ 25. You can use classic methods of payment to deposit money with eToro, including credit cards, bank transfer, Skrill (skrill review), PayPal and more. The current list of available deposit and withdrawal methods can be found on the broker’s website.
How to withdraw money at eToro?
There is nothing complicated about money withdrawals at eToro. You can have the money sent directly to your credit card (bank account), PayPal account or by bank transfer. You can use the same methods for depositing. But be careful, each method has its own rules.
- You must have the money you want to withdraw from the account available. It cannot, therefore, be locked as margin in any of your open positions.
- Your account must be verified (you can tell by the green checkmark in your user profile). If it is not verified, you must provide your identity documents. You can learn how to do that here.
- The minimum withdrawal amount is $ 50.
Every broker, stock exchange or exchange office charges fees. Unfortunately, this cannot be avoided – brokers need to make money somewhere. The good news is, these are no extreme amounts. The eToro Broker charges the difference between the purchase price and the spread price as a fee. Here are a few examples of fees charged for a given market:
- Cryptocurrencies: From: 0.75%
- Commodities: 2 – 45 pip
- Forex: From 3 pip
- ETF: 0.09%
- Indexes: From 75 pip
- Shares: From 0.09%
Be careful, there is a $ 25 withdrawal fee for eToro, which is half of the minimum $ 50 withdrawal. It is, therefore, better to withdraw larger amounts so that you do not have to pay for your withdrawal very often.
In addition, eToro charges a fee for inactivity. So, if you don’t sign in to your real account for more than 12 months or into the trial account for more than 4 months, eToro will charge you $ 10 per month. However, it will do so only if you have the required balance left in your account. Once you sign in to your account, this inactivity fee will be canceled. All current fees can be found at the official eToro website.
How to start trading with eToro?
We are now almost at the end. You already know what the eToro broker platform looks like, what are the fees, how the demo account works and many other things. But how exactly do you start trading? Look below. The whole process can be summarized in 4 steps.
- Sign up
- Verify your account
- Transfer your trading resources
- Open a trade
Are you registered? Do you have enough money in your account? If so, trading is very simple. To enter the trade, click the Trade button and fill out the pop-up window, in which you enter the Amount, that is, for how many Dollars or Euros you want to buy the asset, choose the lever you want to use (1: 2 to 1:30), eventually enter stop loss and take profit and your trading order will be confirmed.
Of course, it is also possible to order trades, i.e. to plan for the future. For example, you can set the trade to open when the price reaches a certain level.
Wasn’t this eToro review sufficient for you? Do you have any other questions you don’t have the answers to?
Let us know in the comments and we will help you!
eToro - Review author
|✅ Website URL||https://www.etoro.com|
|✅ Headquarters||Lemesos, Kypr|
|✅ Support Types||FAQ , Email , Chat|
|✅ Languages||21 languages|
|✅ Minimum 1st Deposit||200 USD|
|✅ Minimum Trade Amount||25 USD|
|✅ Bonus||Great social trading platform|
|✅ Leverage||Up to 1:30|
|✅ Spread||From 2 pips (depends on asset)|
|✅ Free Demo Account|
|✅ Regulation||Cysec , FCA , MiFID , ASIC|
|✅ Deposit Methods||Credit / Debit card , Paypal , Wire transfer , Skrill , Neteller , WebMoney , UnionPay|
|✅ Withdrawal Methods||Credit / Debit card , Paypal , Wire transfer , Skrill , Neteller , WebMoney , UnionPay|
|✅ Trading Methods||Forex , CFD Crypt o, CFD ETF , CFD Shares , CFD commodities , Indices|
|✅ Number of Assets||1000|
|✅ Trading Currency||USD, EUR, GBP, etc...|
|✅ Account Currency||USD, EUR, GBP, etc...|
|✅ US Traders Allowed|
|✅ Mobile Trading|
|✅ Tablet Trading|
|✅ Overall Score||94/100|