eToro Review 2021

Is eToro a Scam? Find Out If You’re Putting Your Funds at Risk

Is eToro a legit and reliable broker or is it a scam? This detailed, updated and unbiased eToro review will answer this frequently asked question so keep reading to find out the results of our tests.

Look: Contract for difference or CFDs allows users to speculate on the rising or falling prices of instruments. It has unique capabilities that allow you to invest not only on rising prices but also on those that have falling prices as well and take the decision without needing to buy that particular asset.

This is the reason that most people prefer to trade with CFD in comparison to stocks. If you are curious to trade CFD, then you would be familiar with eToro or you would have seen one of its many promotional contents.

eToro logo
eToro logo

Table of Contents

  1. What is eToro?
    How does it work? (22sec)
  2. Summary
    What is the overview of this eToro review? (44sec)
  3. Registration
    How to sign-up? (11sec)
    1. 3.1 Countries Supported
      Can I open an account in my country? (46sec)
    2. 3.2 Types of Accounts
      What accounts are available? (55sec)
    3. 3.3 Demo Account
      Is there a practice mode? (1min 23sec)
    4. 3.4 How to Sign-up?
      Step-by-step guide (59sec)
    5. 3.5 Minimum Deposit
      What is the lowest starting capital? (27sec)
  4. Trading Platforms
    Is eToro a good platform? (52sec)
    1. 4.1 User-Friendliness
      Is it easy to use? (42sec)
    2. 4.2 Logging In
      How can I login to my account? (18sec)
    3. 4.3 Searching for Instruments
      How can I look for the tradable assets? (40sec)
    4. 4.4 Favorites
      Can I save my preferred assets? (48sec)
    5. 4.5 Order Types
      What orders can I place on eToro's platform? (32sec)
    6. 4.6 Notifications
      What kind of notifications can I get? (1min 22sec)
    7. 4.7 Quotes Accuracy
      Are the price quotes in real time? (35sec)
    8. 4.8 Fee Details
      Will I be able to see the fees clearly? (13sec)
  5. Tradable Assets
    What assets can I invest on? (38sec)
    1. 5.1 Indices
      Are the most popular equity indices included? (9sec)
    2. 5.2 Forex
      Which FX currencies are on eToro? (12sec)
    3. 5.3 Commodities
      What commodities can I trade? (9sec)
    4. 5.4 Cryptocurrencies
      Is eToro good for cryptocurrency? (16sec)
    5. 5.5 Stocks
      Can I buy shares? (18sec)
    6. 5.6 ETFs
      What exchange-traded funds are available? (3sec)
  1. Deposits and Withdrawals
    What payment gateways are supported? (12sec)
    1. 6.1 Supported Currencies
      What currencies are accepted? (20sec)
    2. 6.2 Deposits
      What payment methods can I use? (30sec)
    3. 6.3 Withdrawals
      How to withdraw funds? (28sec)
    4. 6.4 Withdrawal Processing Time
      How long will my withdrawal take? (28sec)
  2. Fees and Charges
    How are these calculated? (12sec)
    1. 7.1 Spreads
      What spreads does eToro offer? (37sec)
    2. 7.2 Overnight Funding
      Does eToro charge overnight funding? (21sec)
    3. 7.3 Inactivity Fee
      What happens if my account doesn't show any activity? (19sec)
  3. Trading Tools
    What tools can be used for technical analysis? (18sec)
    1. 8.1 News Feed
      How to make discussions with users and markets? (21sec)
    2. 8.2 Charts and Indicators
      How to use Charts and ProCharts? (26sec)
  4. Education
    Does eToro have training? (51sec)
  5. Customer Support
    How do I contact eToro? (1min 34sec)
  6. Reputation
    Can eToro be trusted? (8sec)
    1. 11.1 Is eToro Safe?
      Is it a trustworthy broker? (29sec)
    2. 11.2 Regulation
      What regulates eToro? (33sec)
    3. 11.3 Background
      What's the history of eToro? (55sec)
  7. Conclusion
    Is it worth trading on eToro? (49sec)


Interested to test out eToro?

Curious enough to already test out this broker? You can quickly sign-up for an account by clicking the button below. The entire registration process takes only a few minutes so you can have an account in no time.


TAKE ME TO ETORO!

67% 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.

What is eToro?

eToro is basically a CFD service having exclusive platforms that enables you to do online trade on all types of instruments.

It’s regulated and approved by different financial organizations such as the Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA) and Australian Securities and Investments Commission (ASIC) which allow it to offer CFD trading services online.

So, are you curious to learn more regarding eToro? Let’s study it in detail to find out!


Summary

It’s very easy to be an eToro member from the process of registration and even until the withdrawal stage. The platform is user-friendly and unique in terms of design and it has integrated risk management tools for trading.

It has over 3000 options with very modest spreads regarding the available assets or instruments. In addition, the fees by eToro are transparent and it doesn’t have hidden trading charges as mentioned on the website.

While talking about its reputation, a stable organization operates it and its companies are in accordance with different regulators.

On the other side…

It doesn’t have any education center but it has a comprehensive FAQ page. Moreover, the unlimited demo account is also very useful for beginners.

Furthermore, it doesn’t offer any spread betting service but only offers the standard stock and CFD trading service.

Note:
Majority of the screenshots that you will see in this review are from their web-based platform.

Registration

The registration process is just a matter of a few minutes and won’t require you to spend a long time to accomplish it.


Pros

  • Quick registration process
  • Can use Facebook or Google account

Cons

  • You need to eventually complete your profile in detail

Countries Supported

Anyone from the globe can register with eToro with just a few exceptions:

 

North America Europe Asia Pacific Latin America Africa Middle East
Canada Albania American Samoa Bahamas Algeria Afghanistan
US Minor Islands Belarus Brunei Barbados Botswana Egypt
  Belgium Cambodia Cuba Burundi Iran
  Bosnia and Herzegovina Fiji Guyana Chad Iraq
  Macedonia Guam Jamaica Congo Republic Israel
  Montenegro Hong Kong Nicaragua Ethiopia Lebanon
  Serbia Japan Puerto Rico Ghana Syria
    Laos Trinidad and Tobago Guinea Turkey
    Maldives Venezuela Guinea-Bissau Yemen
    Mauritius   Libya  
    Mongolia   Mali  
    Myanmar   Namibia  
    North Korea   Somalia  
    Northern Marianas   Sudan  
    Pakistan   Tunisia  
    Palau   Uganda  
    Samoa   Zimbabwe  
    Singapore      
    Sri Lanka      
    Vanuatu      
Countries not supported by eToro


Here’s the thing…
You don’t need to find out if your country is supported by eToro or not, as it will notice your location by itself and will alert you.

Notice from eToro if your country is not supported
Notice from eToro if your country is not supported

Keep in mind that this will only work if you’re using your real internet connection. You should not be using any VPN service while opening the eToro website.

Types of Accounts

Rather than account types, they have the eToro Club which comes with a selection of benefits, services and tools that you will have exclusive access to according on your membership tier:

 

Tier Equity
Silver $5,000
Gold $10,000
Platinum $25,000
Platinum+ $50,000
Diamond $250,000
eToro Club minimum equity requirements


Membership is of this club will be determined not the amount you deposited on your account but rather by equity which is the sum of your available balance (funds available to open new trades), the total allocated funds (those that were currently invested) and your profit.


Like to open an account?

If you're curious and ready to open one right now, you can click this button and this will take you to their sign-up page. The process of opening an online trading account will only take a few minutes.


I'M READY TO BE A TRADER!

67% 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.

Does eToro offer bonuses?
eToro no longer offers sign-up bonuses. This is because of their agreement with regulators not to provide any kind of gratuities, offers, bonus, incentives or trader points to their customers for their protection.

Demo Account

If you sign-up with eToro, you can facilitate from an unlimited demo account. This demo account is very useful to discover a variety of its features and platforms if you are using it for the first time or if you like risk-free trading.

Furthermore…
It already contains $100,000 virtual funds that can be used whenever you want. And in case you’ve used up them all up, you can request additional virtual funds by contacting the customer support.

eToro demo account virtual funds
eToro demo account virtual funds

The demo account can be accessed just after you sign-up with eToro. You just need to choose the “Virtual Portfolio” on the left sidebar of the main platform screen.

In comparison:
Some other services also facilitate users with a demo account but they simulate the market situations and won’t let the user know about the real situation.

Professional traders make use of this demo account to make their strategies. The coolest thing regarding the demo account of eToro is that it displays real market conditions which allows you to be more familiarized with the interface within minimum possible time.

And in addition...
It enables you to build confidence and strategy prior to applying it in reality.


Ready to test out eToro's demo account?

You can easily do so just by clicking on the button below. Keep in mind that opening an account won't require you to make a deposit if you just want to utilize the virtual portfolio. You have the choice of funding your account later should you decide to pursue live trading with this broker.


GO TRY THE DEMO!

67% 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.

How to Sign-up?

The registration method of eToro is quite easy and it won’t take much of your time. This can be done via the following:

Simple, right?

eToro registration page
eToro registration page

After finishing the registration, you’ll see the main trading platform screen.

Now, you will able to use the “Real Portfolio” option through the free demo account. However, to start live trading, it is required for you to complete your profile and verify your account by accomplishing a series of forms.

The following documents are required to be uploaded in order to verify your identity:

  1. A POI (proof of identity) document such as a passport, driving license or any other government-issued ID. If it has important details on the back, be sure to send this as well.
  2. A POA (proof of address) document which can be any of the following:
    • Credit card statement
    • Bank statement
    • Phone bill
    • Internet bill
    • Electricity, water or gas bill
    • Council tax bill
    • Tax letter or bill
    • Letter from your employer
    • Letter from your local municipality
    • House rental official agreement that’s issued by a rental agent

After uploading these documents, eToro will verify them and will allow you to access the deposit menu for adding funds to your account.

Minimum Deposit

The lowest amount that you can deposit to your eToro account is $200 when you’re depositing through various methods such as credit cards or debit cards.

The amount is perfect and a lot lower as compared to other brokerages. Also, if you are a novice in this field, it is the ideal amount. On the contrary, if you plan to use bank transfers to fund the eToro account, you need to deposit $500.

Look:
This doesn’t matter if you are a long-term trader because you will make ensuing deposits with the passage of time.

Trading Platforms

The trading platform of eToro has a very simple structure, loads quickly, and is extremely slick. This allows you to get familiar with the interface without investing a lot of time.


Pros

  • User-friendly
  • Loads quickly
  • Colors won’t strain your eyes

Cons

  • Doesn’t support MetaTrader platforms

eToro’s combination of proprietary platforms are developed by themselves and are not provided by any other party.

Here’s a fact:
It is not common in the trading market for a brokerage to have their own software or platforms. With eToro having the capability to enhance their platforms, they can add more features and functionality in line with the needs of their clients.

And one more thing: The platform of eToro consumes fewer system resources irrespective of its use from the mobile application or browser. It's safe to say that eToro is very easy to use, loads quickly, and lag-free.

 

System/Device Platform
Web eToro
Desktop None
Mobile iOS App, Android App
Other N/A
eToro's trading platforms


You’ll be able to access the platform and use any of the following languages. However, the default will be based on the language that supports your country of jurisdiction during the time that you registered.

  • English
  • Spanish
  • Italian
  • German
  • Russian
  • French
  • Arabic
  • Chinese
  • Polish
  • Dutch
  • Norwegian
  • Portuguese
  • Swedish
  • Czech
  • Danish
  • Romanian
  • Vietnamese
  • Thai
  • Finnish

 

eToro trading platform
eToro trading platform

User-Friendliness

eToro has worked very hard on making its design to be simple and fitted for traders so that you can understand everything and won’t feel lost in the process of understanding their platform.

It won’t take long for those traders who are using it for the first time. This is very important as no one desires to have a difficult experience in trading.

What's interesting is that...
There is no considerable difference in the eToro’s web-based platform and its mobile apps for iOS and Android. If you have used it on one of the above-mentioned devices, you can simply use it on other devices also.

This has been made possible due to specific optimization for different operating systems.

Have a look at the two images below. The first image shows the web-based platform through a mobile browser whereas the second image is of eToro app for Android.


etoro banner

Logging In

Whenever you sign-in to eToro, it will provide you the below choices for logging into your account:

  • Via your Facebook account
  • Via your Google account
  • Via your email address and password


Take note:

Logging-in through social media accounts is available only if you have used them in the registration process. If you haven’t linked any account then you won’t be able to use this option.

eToro login page
eToro login page

Searching for Instruments

There are two ways to look for a specific asset. The first allows you to look through the list of markets on the right and wider section of the main screen.

eToro instrument search page
eToro instrument search page

You just need to click on the class of asset to identify in the list.

The second way for searching the instrument is through the search bar. This feature is very cool if you know the keyword of the asset to get the best results or you may enter the ticker symbol manually.


Here’s an example:

If you have the interest to do trading in the currency of the US dollar, you may search “USD” or “dollar” and the assets that are attached with this currency will appear in the list involving other categories also (if they exist), such as cryptocurrencies, indices, and others.

Favorites

If you usually do trading on a particular instrument then it is best to add it to the list of your favorites.

How can you actually use this?
The favorites option save a lot of your time as you don’t need to search a particular asset at the time of purchasing or selling CFD order. This is very useful if you are in a hurry and don’t wish to miss the trading prospect.

Here’s how to do it:
You can add a particular instrument to favorites by searching it and then clicking on the plus5 (+) symbol. This way it will be added to the “My Watchlist” or a new list with a specific name.

eToro enables you to add unlimited assets to your watchlists. However, it is recommended to add only important ones. Otherwise, this list will get crowded and would defeat its purpose.

This list can be easily accessed via “Watchlist” category. You can see it in the left section of the main page.

eToro Watchlist
eToro Watchlist

Order Types

eToro allows you to place various type of orders on their online trading platform. These are stated below:

  1. Market order: It is the default order type and is placed when you desire to execute the order quickly.
  2. Take profit: In this type of order, you can reset a particular value to sell or purchase a specific asset.
  3. Stop loss: This automatically prevents the order from selling or purchasing if the particular asset meets the pre-set value for reducing the potential loss.
    eToro order
    eToro order

With eToro, you can set a particular rate to close at a particular price level by itself in order to reduce the loss and increase the profit.

Notifications

eToro’s notifications is very beneficial if you like to track the latest updates regarding your trading. You’ll get all the updates as soon as possible through this feature.

eToro notification settings
eToro notification settings

eToro permits you to change the settings on your account according to your wish to get the latest updates about the following:

Email notifications

  • Updates, promotions and tips
  • Social activity – if someone started following you, commented on your post, wrote on your wall, started copying you, one of your Facebook friends joined eToro or someone commented on a post that you participated in.


Tip:

You can completely opt out from eToro’s marketing communication or even a particular newsfeed activity.

However, you won’t be able to turn off the notifications on important matters such as the status of your deposits, withdrawals, requests to receive documents and technical notifications.

Push Notifications

  • Night Mode – you may opt not to receive notifications at night and turn off the sound
  • Types – you can toggle the switch according to type and this includes the following:
    • Trading
    • Account
    • Social
    • Volatility Alerts
    • eToro Updates and Promotions
    eToro web push notification settings
    eToro web push notification settings

You can set the types of notifications that you wish to receive. Do take note that you may still receive a minimal set of mandatory notifications due to regulation requirements.

 

Web Push Notifications – similar to Push notifications, you can receive alerts according to type:

  • Trading
  • Account
  • Social
  • Volatility Alerts
  • eToro Updates and Promotions


Take note:

If you have enabled this notification but noticed that it’s not working, you might need to approve eToro first in your browser settings.

You’ll get the notifications or latest updates through push notifications on the platform application on your phone through the email that you provided during the registration process.

And one more thing: There’s no fee for these notifications! Isn't that cool?

Quotes Accuracy

The prices of assets on the broker platform is the key to your success in trading. Therefore, it is of great importance for you.

How do you do it?
You just need to make a comparison of the actual market prices with quotes and if there is a huge difference between the actual market prices and quotes, then you might want to reconsider trading with this broker.

So how did it turn out?
The trading platform of eToro is not prone to slippages. Instead, it provides the precise rates before and after the deal. So, based on the above review, eToro has managed to get an exceptional rating in this important category because due to the accuracy of prices in their platform.

Fee Details

The platform of eToro openly discloses the fee that you have to pay at the time of trading.

In fact, there is an option for you to check the full details of the fee to avoid any later surprise when you deal with an order.

Tradable Assets

eToro allows you to discover countless trading prospects with the help of more than 3000 financial instruments.


Pros

  • More than 3000 instruments
  • Thematic investing via CopyPortfolios
  • Different financial assets across several categories

Cons

  • None

eToro will allow you to access a wide range of markets and doesn’t limit you to a specific asset.

eToro tradable assets
eToro tradable assets

There is every instrument type that you may imagine. It covers all the main assets categories.

In comparison of other brokerages, there is a huge difference as eToro offers more than 3000 instruments whereas other brokerages only offer approximately 100 to 200.


Coming to the point:

With a wide range of choices, you have the liberty to choose the asset in which you are most comfortable to invest on.

This is the reason that eToro secures a position with an exemplary score in this category.

Indices

In this class of assets, you can find the most common country indices counting the Netherlands 25, Germany 30, USA 500, US-TECH 100 and Japan 225 amongst many others.

eToro indices
eToro indices

Forex

You are allowed to make an investment on all the currency pair types that you can imagine:

  • Majors (EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD and USD/CAD)
  • Crosses (EUR/CHF, EUD/CAD, GBP/ZHF, NZD/JPY, CAD/JPY and many more)
  • Exotics (EUR/TRY, USD/TRY, USD/SEK, USD/NOK, USD/DKK, USD/HKD, USD/MXN and many more)
eToro currencies
eToro currencies

Commodities

You have the choice to invest in both type of commodities: Hard and Soft.
Soft commodities include sugar, cocoa, coffee, corn whereas hard commodities include copper, oil, gold, platinum, silver, etc.

eToro commodities
eToro commodities

Cryptocurrencies

This latest category of assets has the option to sell or buy real crypto or CFD orders through digital currencies including Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Cardano, IOTA, Stellar Lumens, EOS, NEO, Tron, Zcash, Binance Coin, Tezos, Compound, Chainlink, Uniswap, Yearn.finance, Dogecoin, Aave, Algorand, Decentraland, Basic Attention Token and Polygon.

eToro cryptocurrencies
eToro cryptocurrencies
etoro banner

Stocks

You can place a sell or buy position on particular company shares from different countries counting Germany, USA, UK, Italy, Hong Kong, Japan, Australia, Ireland, Singapore, etc.

eToro stocks
eToro stocks

In comparison…
The other services also provide some stocks, however, they are mostly from a few countries only. This is because they have shares in the markets of UK, US and some European countries.

Sounds exciting, right?


etoro banner

ETFs

You’ll find contracts of over 80 choices for commodities and indices.

eToro ETFs
eToro ETFs

Deposits and Withdrawals

It is extremely easy and quick to make a deposit and withdrawal through eToro.


Pros

  • $5 flat withdrawal fee regardless of the amount
  • All transactions utilize Secure Socket Layer (SSL) technology
  • Various payment methods are supported

Cons

  • Non-USD deposits are subject to a conversion fee

Supported Currencies

The eToro platform only operates with USD. However, visually speaking you can change the currency displayed as your equity.

To change the currency displayed in your Equity, you just need to click on the Equity badge on the bottom of the platform and you will be able to select the display currency there.

Take note: If you’re going to use other currencies on the platform, this converted with additional fees.

Deposits

eToro supports the below-mentioned payment methods:

  • Credit / Debit card (Visa, Mastercard, Diner’s Club)
  • China Union Pay
  • Giropay (Sofortüberweisung)
  • Neteller
  • PayPal
  • Skrill Limited UK
  • WebMoney
  • Wire Transfer
  • Wire
  • Yandex
  • Local Online Banking
  • ACH

 

The above-mentioned methods are the most reliable and commonly used and it is very easy to make a deposit through them.

So making a deposit in your eToro account is very simple and quick through a number of payment options.

 

Broker Credit/Debit card Electronic wallet Bank transfer
eToro Yes Yes Yes
Plus500 Yes Yes Yes
XM Group Yes Yes Yes
eToro supported deposit methods compared with other brokers

 
When you are done with the registration process, the next stage is to make a deposit. For this, you just need to select Deposit and then choose your preferred payment option.

eToro deposit page
eToro deposit page

Withdrawals

If you have deposited money through a credit card in your account, then the withdrawal will also be made in the same credit card even if you have mentioned any other payment method in the withdrawal process.

eToro withdrawal
eToro withdrawal page

If the first try to withdrawal does not succeed, the withdrawal will be made to your secondary payment option.

If you wish to make a withdrawal to your PayPal account, you will be required to login to your PayPal account for claiming the funds.

Important: We highly recommend verifying the email address of your PayPal account before making any withdrawal.

Withdrawal Processing Time

It is very frustrating if your withdrawal request takes a lot of days to process. This is the case of some brokers and in some situations, the withdrawal request does not even succeed.
That's annoying, right?

So how long does eToro takes to process a withdrawal request?
Luckily, the withdrawal processing feature of eToro is very quick and it takes only three days to transfer funds from your EToro account to your credit card or bank account.

It means that eToro is highly reliable because they transfer your funds within minimum possible time and without any difficulty.

Fees and Charges

eToro is very transparent in terms of charges as there are no hidden fees.


Pros

  • No deposit or trading fees
  • Transparency on current spreads and overnight fees
  • Very simple to avoid inactivity fee

Cons

  • $10 monthly inactivity fee if no login for 12 months

Spreads

eToro gets the benefit only from the market spread that is the difference between the selling and buying price of the instrument. It is not benefited from commissions.

In comparison, other renowned services earn a lot from commissions when you trade on a particular share. The commission value is dependent on the country or market. Only eToro allows you to earn with zero commissions.

Some instruments have dynamic spreads. They vary sometimes whereas some instruments have fixed spreads and they do not change.

Look: It is very important for you to get yourself familiarize with spreads as it indicates the amount that you will earn with the successful trade.

In conclusion, the spreads of eToro are a lot better in comparison to other services and deserve the highest score.

Overnight Funding

This is the amount that will be added or subtracted to your account if you hold a position for more than a day.

Here is how it works:
If you are interested to know the details, you can select the desired asset on the trading platform, click the Trade button and you will be able to see the daily and weekend overnight fees at the bottom of the pop-up window.

eToro overnight fee
eToro overnight fee

Inactivity Fee

You will be charged $10 if you stay away from your account for 12 months. This cost is due to the active service and maintenance of your account.

The best thing is: You can avoid this fee by signing in daily to your account as it will not take more than a minute to do this. Besides, 12 months is such a long time!

Trading Tools

The trading tools are very important to speculate on the position of the market. eToro has a variety of tools that helps you to make an analysis of historical prices, events, and trends for successful trading.


Pros

  • Shows the percentage of traders buying/selling on a particular asset
  • Detailed instrument stats
  • High quality charts
  • Research information

Cons

  • Research information only accessible if you have a funded account

News Feed

What’s great about eToro is that it has incorporated not just real-time news feed for a particular instrument but also feeds from other traders as well.

eToro news feed
eToro news feed

That means you’ll get useful information not just from news resources but also from other users who are also interested about this market.

It’s like having a Facebook newsfeed of anything related to your favorite asset and it’s really helpful in knowing the latest trends!

Charts and Indicators

If you like to use the charts feature to do the technical analysis, then you will definitely like the charts tools of eToro. The below-mentioned chart styles are made available by this broker:

  • Candle
  • Hollow Candle
  • Bar
  • Line
  • Mountain
eToro trading charts
eToro trading charts

There are more than 70 technical indicators for you if you are really interested in the deep analysis via Studies I and II. This gives you the opportunity to know the upcoming market situation. Below are just some of the many indicators that you can use:

  • Alligator
  • Bollinger Bands
  • MACD
  • Parabolic SAR
  • RAVI
  • RSI
  • Standard Deviation
  • Weighted Close

Education

If you want to be a professional in this field, then eToro’s trading academy is the best tool to learn and refresh your knowledge.


Pros

  • Most of the resources are free

Cons

  • Education center can be expanded further

While talking about the other trading services, they offer particular education centers and trading academies, eToro keeps up with the competition as it has all the essential tutorials and information regarding their service and how you can be a better trader.

eToro trading academy
eToro trading academy

eToro has a specialized financial trading Trading Academy which is not just for newbies but also for advanced traders as well. Via these resources, you will have the opportunity to enhance your trading skills:

  • Live Webinars: With the help of their online trading experts, you’ll be able to learn your way around the platform and get top trading tips.
  • eCourse: This is an exclusive financial trading online course which allows you to learn and understand financial trading without any time pressure.
  • Trading Videos: If you’re not fond of reading then their videos are you next best learning tool.

Customer Support

Getting in touch with eToro’s support service is very easy and can be done in a number of ways.


Pros

  • Well-trained support agents
  • Available 24/5
  • Ticket submissions available

Cons

  • None

Never forget:
When selecting a broker to sign-up with, the factor of customer support service is of great importance. The customer support service of any trading website should provide you the required information and they should adopt every possible measure to help you out.

The good news is…
This is what the customer support service of eToro actually does!

eToro help page
eToro help page

They can be accessed via the most common methods available: phone, email and live chat.

Thus, how did it turn out?
To check their support service quality, we called them via phone and threw a set of questions and they were able to provide us with all the answers that we need professionally and without any marketing tactics.

eToro Customer Service Center
eToro Customer Service Center

We’ve also tried contacting them via email and also sent them the same kinds of questions that we asked via phone. Satisfactorily, they were able to provide the same answers in detail and the response time didn’t take too long.

The same goes for the live chat with even faster responses and detailed answers as well.

eToro live chat
eToro live chat

Take note: The customer support service through live chat can only be accessed if you are registered and logged in on eToro account.

The reality is that:
The customer support service of other brokerages takes more than 24 hours to answer an email. This is the reason that the customer support service of eToro is best and very fast.

Moreover, we noticed that the reply to our inquiries was very sincere, quick, and honest. Their staff did not try to market their service at all and that’s the kind of support that we’re looking for.

Bottom line?
The customer support service of eToro is very quick, sincere and honest. They are well-trained and can answer all of your questions and within no time.

Reputation

eToro has been able to keep an established credibility since the company started its operations.


Pros

  • Licensed from different regulators
  • Functioning since the year 2006
  • One of the pioneers in social trading

Cons

  • None

Is eToro Safe?

That's the magic question. If fact, this is a very common question and here’s the answer:

eToro is definitely a safe and secure platform for trading. They have a good background and history and has never been flagged by financial authorities for any violations.

We can’t stress more than this:
You should trade on a platform that is transparent and honest. eToro is not only transparent and honest but also very friendly and they even go the extra mile to facilitate you. They have a sound reputation.

In conclusion, eToro is the best platform in terms of safety for trading.

Regulation

eToro is approved and controlled by the below bodies:

eToro is verified and licensed with renowned bodies. This ensures that they meet all the trading regulations and standards to provide the best possible experience to their clients.

Background

In the year 2007, eToro came into existence, so it has been more than a decade since it provides the CFD service to traders. The period of over ten years is undoubtedly enough to prove their constancy.

And it is important to know that they also have a license to operate from trusted financial regulators. The above mentioned are enough to conclude that eToro is a verified and financially strong organization for trading.

What else?
eToro doesn’t charge any commission on any of the transactions and for this reason, it is appreciated by many traders. This fact can be proved by the reviews and comments that are available on famous forex trading forums, sites and on even social media such as Twitter and Facebook.

Moreover…
There is an agreement of sponsorship by eToro with the Premier League and in fact, it is the club’s biggest club sponsor for the 2020/21 season. The sponsorship with sports clubs such as this one is too costly specifically if this is a long-term sustainable agreement.

So what do we mean by this? It indicates that eToro is enough financially strong to sign such agreements and stable!


Conclusion

eToro is a very stable online trading and investment service having all the important aspects and risk handling tools that are preferred by the majority of traders and that includes beginners and the experienced ones as well.

Guess, what is the best thing?
They have a complete trading package. It provides best trading opportunities, reliable and quick order processing and a very friendly customer support team that is very quick and knowledgeable enough to easily answer all of your inquiries.

It's not really surprising if other CFD services follow their footsteps as it is the best trading service in the market because of its numerous notable features.

Bottom line?
eToro gained a very good score in all the categories. Therefore, it is highly recommended by for trading forex, stocks and CFDs.


Ready to try eToro?

If you think that eToro is the better choice for trading and are already interested to invest with this broker then you can click the button below and you'll be directed straight to their quick-and-easy registration page.


TAKE ME TO ETORO NOW!


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. 67% 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.

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.

Limited Time Offer
$50 First Time Deposit!

  • Days
  • Hours
  • Minutes
  • Seconds
Get Started Now
Wikitoro logo

Try eToro’s free demo trading account

Get started risk free with $100,000 in virtual funds on eToro’s practice trading account

TRY IT NOW!
*67% 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.