If you are interested in trading Ethereum with eToro then let it be known that they offer 3 products that are applicable for this cryptocurrency.
You can use their platform to trade real ETH tokens or CFDs, or copy the positions of other experienced traders. There’s also the advanced digital exchange that is primed for institutional-grade investors and seasoned traders. And lastly, there’s the online wallet where you can transfer and receive ETH coins.
This page covers the most common topics and questions related to this particular cryptoasset so if you’re keen on trading Ethereum with eToro then continue reading to find more information that you might find interesting and helpful. We also have an detailed eToro assessment that you should definitely read.
Interested now to trade Ethereum? Open an eToro account today!
How to Trade Ethereum on eToro?
To be able to begin trading ETH on eToro, first, you need to sign-up for an account and then make a deposit so you can have a starting capital. The next steps are as follows:
- Open the eToro trading platform.
- Click “Trade Markets” and then “Crypto”. This will provide you with list of all the available cryptoassets.
- Search for Ethereum or its symbol ETH and then click on it. This will take you to the Ethereum trading page.
- Click on the “Trade” button to open the pop-up trading screen.
- Input the amount that you want to invest and set the custom parameters according to your preferences and click the “Open Trade” button to execute it.
Is Trading This Cryptoasset a Scam?
No. Any Ethereum trading-related activities done on eToro is not a scam as it is a legit and legal broker. eToro currently operates with a license from various financial regulators which means it has passed their regulatory requirements.
ETH Copy Trading
Aside from trading the ETH coin by yourself on the platform, there’s also the CopyTrader which is a unique social investing feature of eToro.
As the term implies, you are basically copying the trades that were executed by more experienced users using an allocated amount that you will set. That means when you executed a copy position, your account will automatically open when the user that you “copied” opens a trade via his account.
Take note that the amount that will be opened is going to be proportionate to the amount that you set.
Can I Lose More than the Amount I Invested?
Yes. It is possible to lose an amount higher than what you invested and if your trade results into a loss or if you have used all of your entire capital to open positions and it incurs overnight fees.
However, the platform comes with Negative Balance Protection. This will automatically absorb all the losses incurred and it will simply reset your equity to zero.
How can this benefit you?
This basically means that you may lose more than the invested amount but thanks to eToro’s Negative Balance Protection policy, you won’t lose an amount that is higher than your capital or the total amount that was deposited in your account.
Trading Hours: 24/7
Crypto trading is open 24 hours a day, 7 days a week and this applies to ETH because it belongs to the crypto asset class. Compared to stocks, indices, currencies and commodities, which have specific opening and closing times, this particular market is always open.
Fees That You Might Incur
Depending on the transaction type or activity that you will perform with eToro, there are some fees that you could be charged with and you need to be aware of this.
Transfer fee: There’s a 0.006 ETH charge for every withdrawal of this coin from your account regardless of the amount. You can take out a minimum of 0.26 ETH per transaction.
Overnight fee: If you short-sell an ETH order then this will be executed as CFD and is covered by a rollover or overnight fee of $0.300336 for selling (short). On the other hand, there’s no fee for buying (long).
Bear in mind:
All the fees that were discussed are subject to change especially when there’s movement in the financial markets. For the actual fees and rates, we strongly suggest that you refer to their official trading fees page so you will be updated.
Spreads for CFDs
The spread for Ethereum CFDs is 1.90%. This will only be applied once the your position for this cryptoasset has been closed.
Take note that the rate mentioned here is the lowest possible spread and it may change based on market conditions because it is the variable or floating type.
Ether’s price can be seen on the platform so you can keep track of the actual value of this cryptocurrency. The quote displayed is in real time, which means you may see changes in its value rapidly as the market is open 24/7.
Live ETH Charts
All assets on the platform including crypto have integrated live charts via their dedicated instrument pages and in this case, you will be able to access ETH’s price charts. This can be very useful if you want to monitor and apply technical analysis of its price history.
Via the ProCharts feature, you can view the graphs using Japanese candles, Bollinger bands and Fibonacci. In addition, you can also choose specific timeframes based on your preferences or how you plan to analyze the market.
In line with the standards for displaying the prices, this is the value for the Sell so if you prefer to determine the Buy rates then just add the spread to the value that you see on the chart.
Will I Own the ETHs That I Bought?
Yes. Whenever you buy an ETH coin on the eToro platform, you will own these specific tokens that you purchased and this goes the same for the other cryptoassets that they offer.
This doesn’t mean that you can physically own them because these are in digital form so it has to be securely stored in a digital wallet or you will have to authorize an entity to keep custody of these acquired tokens.
ETH Cross Pairs
eToro also provides access to users who want to explore investing on ETH-related cross instruments. The platform supports currency crosses and crypto crosses, and their availability or diversity may change based on market demands. Commodity crosses for ETH are not available.
|Currency Crosses||Crypto Crosses|
|Australian Dollar (ETHAUD)||Bitcoin (ETHBTC)|
|Canadian Dollar (ETHCAD)||EOS (ETHEOS)|
|Swiss Franc (ETHCHF)||Gram Coin (ETHGRAM)|
|Euro (ETHEUR)||Stellar Lumens (ETHXLM)|
|British Pound (ETHGBP)||Zcash (ZECETH)|
|Japanese Yen (ETHJPY)|
|New Zealand Dollar (ETHNZD)|
Some regulators do not allow investing on these types of cryptoassets so if your account is under such financial authority then you won't be able to trade these instruments in particular.
To determine if your account is restricted, simply check of the buy/sell buttons are clickable. If these are disabled then it means that you're account is covered by these regulatory constraints.
In addition, you will also get this pop-up message after clicking on any these crosses:
A digital wallet called eToro Wallet is available for all registered clients, this can be used for storing, sending and receiving ETHs, and other supported digital coins. This is categorized as an online wallet so it doesn’t require its users any hardware for storing them.
How to Create an ETH Wallet?
After you have bought an ETH coin from the eToro trading platform and then you decided to transfer it to the wallet, that will be the time wherein you will be allowed to create a wallet for this specific cryptocurrency.
Ethereum Cash or ETC is a different digital coin from the mainstream Ethereum crypto. While this is considered to be the original version of the Ethereum blockchain, this should not be mistaken as the same entity as it is traded separately from ETH.
Thinking of trading ETH with eToro? Open an account to begin.
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. 78% 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.