Introduction

If you're a user of the eToro platform in the United Kingdom, here are some information you need to know regarding engaging in trading of stocks, indices, commodities, cryptocurrencies and more, in this particular country.

If you're more interested about the online trading platform, then you might want to read our extensive review which is also applicable for UK traders.

Advantages

✔️ Regulated by the UK Financial Conduct Authority (FCA)
✔️ 0% commission on real stock trading
✔️ 10 GBP minimum deposit
✔️ Social trading
✔️ Leveraged trading
✔️ Real UK stocks available
✔️ Crypto assets including Bitcoin, Ethereum and Dogecoin

Disadvantages

❌ USD is the account base currency
❌ Inactivity fee after 12 months
❌ No ISA or SIPP

Nothing beats eToro in the UK. It is currently among the top investment platforms today.

78% 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.

eToro UK key details infographic
eToro UK key details infographic

 

🏢 Company Name eToro (UK) Ltd.
📍 Address 24th floor, One Canada Square, Canada Square, London E14 5AB, United Kingdom
📞 Phone # +44 20 3868 7213
🏛️ Regulation Financial Conduct Authority (FRN 583263)
eToro UK Details

Login for UK Traders

eToro has a universal login page where users can sign in and access their account. This means the login for UK traders is basically the same for traders from any country.

Logging in can be done via etoro.com/login or via their mobile app for Android or iOS.

eToro login page
eToro login page

You can sign in by entering your username or email address and the password for this account. Alternatively, you can log in via your Facebook account, Google account, or Apple ID if you have linked them during the registration.

How to Open an eToro UK Account?

If you are from the UK and would like to register for an account with eToro, here are the basic steps to follow:

  1. Open your browser and go to www.etoro.com. This will open the eToro homepage.
  2. Click on the "Start Investing" button. This will take you to the quick online registration page.
  3. Enter your desired username, the email address that you'd like to use for this account, and a password.
  4. Click the first check box on the form to agree on the risk disclosure and terms and conditions. Note: Make sure that you are agreeing to the terms and conditions of eToro UK limited, the company that is regulated by the FCA.
  5. Click on the second check box to agree with the privacy and cookie policies.
  6. Click on the "Create Account" button.
  7. Once you've successfully submitted these details, you will be asked to verify your email address.
  8. Check the inbox of the email that you used to register for an eToro UK account. The subject of it will be "eToro email verification".
  9. Open this message and click on the "Verify my email" button. This will then open a link which will take you to the eToro web-based platform with a notification that your email address has been verified.
  10. You may choose to explore the platform first by using the demo feature, or you can finish the verification process by completing your profile so you can make your first deposit and start trading.
Learn

How to Open an eToro UK Account?

Minimum Deposit for UK Investors

The minimum deposit required for UK resident users of eToro is around £10 (the base currency is USD so the value of the standard $10 minimum deposit in GBP will depend on the current exchange rate).

Such amount makes it affordable for anyone to open an account since the initial deposit requirement is not that high. In comparison, brokers like Plus500 and AvaTrade require higher first-time deposits at £100.

eToro UK £10 minimum deposit
eToro UK £10 minimum deposit

Take note that succeeding deposits are set at £50. However, if you are making a deposit through a wire transfer, the minimum deposit is £500.

eToro deposit page for UK clients
eToro deposit page for UK clients

Making a deposit using the UK currency of GBP is not a problem as eToro will convert it to the USD currency with a small conversion fee.

eToro (UK) Ltd.

eToro serves its clients in the UK via eToro (UK) Ltd., a Financial Services Company that has authorization and license to operate in this country.

If you are a UK resident, then your account needs to be under this corporate entity. Take note that upon making your initial deposit and based on the Terms and Conditions that you agreed on during the registration process, the account that you just registered shall be under a particular eToro entity and regulation.

eToro Demo Account

Any user who has successfully registered an account with eToro will be given access to a free and unlimited demo account. There's no need to activate this feature or request for it because all active accounts are allowed to use the platform in virtual mode.

The virtual portfolio is pre-loaded with $100,000 demo credits. If you prefer to use the GBP currency, the amount will change depending on the value of the GBPUSD exchange rate at the time you accessed the platform.

eToro UK demo account
eToro UK demo account


Here's the deal: You can open a free demo account!

The eToro demo account requires no commitment. All you need to do is register for an account and you'll be granted access to this feature so you can explore the platform without any risks.


TRY THE DEMO

78% 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.

eToro UK Platform

eToro currently has 2 platforms available: a web-based version and mobile apps for iOS and Android-powered phones.

The web-based version is designed to be accessed on a web-browser like Google Chrome, Mozilla Firefox, Microsoft Edge and Opera. This doesn't require any software installation since you just need to go to etoro.com on your browser, login to your account, and start trading.

eToro UK trading platform
eToro UK trading platform

eToro's mobile apps for Android and iOS were designed to be used for smartphones that have touchscreens. There's no difference between the app for Android and iOS since their layout and features are the same.

eToro mobile app for Android
eToro mobile app for Android

UK Office

The eToro (UK) Ltd. office in the United Kingdom is located on the 24th floor, One Canada Square, Canada Square, London E14 5AB, United Kingdom.

eToro (UK) Ltd. office address in Google Maps
eToro (UK) Ltd. office address in Google Maps

How does it compare?

We've made a detailed comparative analysis of eToro with other known trading platforms in the UK and here's how it turned out:

 

Broker eToro Plus500 AvaTrade FXTM
💰 Minimum Deposit (UK) £10 £100 £100 £10
🛍️ Markets 3000+ 2400+ 1000+ 1300+
📈 Market Types Stocks, Commodities, Currencies, Indices, Crypto, ETFs Stocks, Commodities, Currencies, Indices, Crypto, ETFs, Options Stocks, Commodities, Currencies, Indices, Crypto, ETFs, Options, Bonds Stocks, Commodities, Currencies, Indices
💱 Spreads Variable Variable, Fixed Fixed Fixed, Variable
💳 Deposit Methods Credit/Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, Bank Transfer, Local Online Banking Credit/Debit Card, Skrill, Wire Transfer, PayPal Credit Card, Wire Transfer, Skrill, WebMoney, Neteller Credit Card, Skrill, VLOAD, TC Pay Wallet, Neteller, WebMoney, Yandex.Money, QIWI, Perfectmoney, Konnexone
🖥️ Demo Account Yes (Unlimited) Yes (Unlimited) Yes (21 days) Yes (30 days)
🏛️ UK Regulation FCA (UK) FCA (UK) None None
💁 Customer Support Email, Live Chat Email, Live Chat Phone, Email, Live Chat Phone, Email, Live Chat
Side-by-side comparison of eToro vs. other UK brokers

Note: We have a dedicated comparison page for each broker against eToro.

Tax in the UK: What You Need to Know

The United Kingdom sets an income tax ranging from 0% to 45%. The following are as follows:

 

eToro Profit UK Income Tax
£1 to £12,500 0%
£1,501 to £50,000 20%
£50,001 to £150,000 40%
Over £150,000 40%
Income tax table for eToro clients who are residents of the United Kingdom (UK)

UK Corporate Tax

The United Kingdom imposes a 19% corporate tax. If you are a trader trading through a UK registered company, your corporate eToro account will have to pay a 19% tax.


Thinking already of opening an account?

If you're from the UK and are already interested to open an eToro account, you can easily do so by clicking the button below. This will redirect you to eToro's online registration page.


YES, OPEN AN ACCOUNT!

78% 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.

The UK Capital Gains Tax

The computation for the UK capital gains tax is as follows:

For example:
If you buy a stock on eToro for £5,000 and sold it for £10,000. This would indicate that you must pay tax on a gain of £5,000.

Please note: The UK sets a free tax allowance for a gain up to £12,300. Capital gains tax rates imposed on financial assets for the year 2021 and 2022 is set from 10% to 20%.

Taxes for Selling on eToro

As a UK-based investor using the eToro trading platform, you still need to follow UK tax regulations and laws. The tax for "Selling" stocks on eToro—as in most trading and other business activities done in the country—is called the "Capital Gains Tax".


Good news:

You are exempt from paying any Capital Gains Tax if your profit ranges from £1 to £12,300. Any amount over £12,300 is subjected to the Capital Gains Tax.

Also take note:
Capital gains tax rates imposes on financial assets for the year 2021 and 2022 is set from 10% to 20%.

eToro UK Phone Number

The phone for eToro UK office isn't listed online. For any concern, you may contact the eToro Customer Service or Live Chat support at this link: etoro.com/customer-service

Fees for UK Clients

The fees for UK residents is similar to almost every user from all over the world. When you trade CFDs, eToro will charge your account with an overnight fee every time you open a position after trading hours. If you keep a position open during the duration of the weekend, eToro will charge you for three nights or three overnight fees.

The overnight fees are calculated depending on the amount of leverage being utilized and it also depends on whether you are engaging in a buy or sell trade.


Withdrawal Fees for UK Traders

To cover expenses involved in making international money transfers, eToro charges a fixed withdrawal fee of around £5 for any amount from the minimum withdrawal amount of £30. This rate also applies to traders based in the UK.


Inactivity Fee

If your account has been inactive for more than a year, you will be charged with an inactivity fee of £10 every month.

If your eToro account becomes dormant, meaning you have not accessed your trading account for 6 years, eToro UK will send the money in your account to a charity that they support.

How to Display in UK Pounds (GBP)?

To make your eToro dashboard display the UK Pound currency instead of the default US Dollar, you need to set it in your profile settings. To do this just follow these simple steps:

  1. On your profile click "Settings" from the left side menu.
    eToro Settings screen
    eToro Settings screen
  2. Click "General".
    eToro "General" link on Settings screen
    eToro "General" link on Settings screen
  3. Click the drop-down button of the "Local Currency".
    eToro local currency setting
    eToro local currency setting
  4. Select "Pound Sterling (£).
    Changing the local currency to Pound Sterling on eToro's platform
    Changing the local currency to Pound Sterling on eToro's platform
  5. Go back to the main page/screen and see the platform in GBP currency.
    eToro platform with GBP currency
    eToro platform with GBP currency

Showing Stocks in the UK Only

To view the top performing and most followed stocks in the UK, you will only need to change a few settings on your eToro dashboard. Here are the simple steps:

  1. Click "Trade Markets" on the list under your profile.
    eToro Markets screen
    eToro Markets screen
  2. Click "Filter" found on the upper right of the screen.
    Filter link on eToro Markets screen
    "Filter" link on eToro Markets screen
  3. From the pop-up menu, select "Stocks".
    Clicking "Stocks" on eToro's Filter menu
    Clicking "Stocks" on eToro's Filter menu
  4. Select "Exchange".
    Clicking "Exchange" on eToro's Filter menu
    Clicking "Exchange" on eToro's Filter menu
  5. Choose "London" from the list of exchanges from all over the world.
    Clicking "London" on eToro's Filter menu
    Clicking "London" on eToro's Filter menu
  6. You will now be able to see all of the UK stocks that are available on eToro's platform.
    Tradable UK stocks on the eToro platform
    Tradable UK stocks on the eToro platform

How to Trade the UK100 Index CFD?

To view and trade on the UK100 indices on your eToro dashboard, simply follow these steps:

  1. Click "Trade Markets" on the list under your profile picture.
    eToro Markets screen
    eToro Markets screen
  2. Click on "Indices" from the list on top.
    "Indices" link on eToro Markets screen
    "Indices" link on eToro Markets screen
  3. Choose and Click the "+" sign beside the "UK 100" box from the list to add it to your "Watchlist".
    Adding UK100 to Watchlist of the eToro platform
    Adding UK100 to Watchlist of the eToro platform

To view the UK100 on the "Watchlist" section of your eToro dashboard simply follow these steps:

  1. Click "Watchlist" under your profile.
    Watchlist on the eToro platform
    Watchlist on the eToro platform
  2. Click the "Filter" icon on the upper right and select "Indices" from the list.
    Selecting "Indices" on the eToro Watchlist filter
    Selecting "Indices" on the eToro Watchlist filter
  3. Click on "UK100".
    UK100 listed on eToro Indices Watchlist
    UK100 listed on eToro Indices Watchlist

You will be taken to a page showing a feed of the latest updates on companies included in the UK100. There are menus for "Stats" and "Charts" as well as a "Trade" button taking you to a pop-up window to invest on the UK100.

UK100 page on eToro's platform
UK100 page on eToro's platform

For starters:
The UK100 or the Financial Times Stock Exchange 100 (also known as the FTSE 100, the UK 100 Spot Index and the slang term "Footsie") is a FTSE-managed stock index comprising of the top 100 companies listed on the London Stock Exchange, based on market cap size.

eToro UK Stats

Here are some of the latest statistics and data that we have harvested and gathered from our resources regarding eToro's popularity and user base in the UK. This research was done using reliable and the most updated sources.


69% of Traders Are from Europe and UK

This latest data is taken from eToro's Q4 2021 Investor Update (March 2022)[1]. Based on this released report, there were 2.41 million funded accounts, 69% of which were from Europe and UK as of December 31, 2021.



UK's Most Downloaded Online Trading App

eToro currently holds the top spot in the UK for being the most downloaded e-trading app in terms of monthly downloads. Plus500 used to be more popular, but in early 2021, eToro overtook its competition by having more than 100,000 downloads each month during the months of January, February, April and May 2021.



Most Copied eToro UK Traders 2022

Below is a graph of the most copied eToro traders who are based in the UK and a comparison of their performance from 2018 to 2021. Do take note that their performance for the current year cannot be compared yet as the 2022 rates are constantly changing.



eToro Trends in the UK

The graph below shows eToro's trend in the UK and the significant increase in interest from 2009 to present. This data is taken from Google Trends.


eToro Frequently Asked Questions (FAQ)

Below are commonly asked questions about eToro and the relevant answers.


Is eToro Legal in UK?

This is actually one of the most common questions of UK traders about this broker. The answer to that is yes, eToro is authorised and regulated by the Financial Conduct Authority. Its current license is under the FRN or firm reference number 583263.

eToro (UK) Ltd. FCA details
eToro (UK) Ltd. FCA details

This entity also has a cross border license from the FCA to offer its services to European Economic Area member states.

In addition, it is also a member of the Financial Services Compensation Scheme (FSCS). This means that there are measures in place to protect their investors in the UK.

In general, it means that this brokerage firm has a license to operate since they complied with the local financial authorities in the UK.


Is My Account Under eToro UK?

Not sure if your eToro account is under the FCA regulation? You'll be able to determine which corporate entity of eToro your account is registered to including the regulation by going to the Settings menu, clicking on your username and accessing your profile settings. This will then take you to a page where you will be able to see the specific eToro entity and regulation that applies to your account.

An eToro account under eToro (UK) Ltd.
An eToro account under eToro (UK) Ltd.


Do UK banks accept eToro??

Yes, most banks in the UK support making deposits into an eToro account. It is safe and secure since transactions are done via Secure Socket Layer (SSL), the most powerful encryption that exists today.


Is eToro blocked in UK?

No, eToro is not blocked in the UK. Its company, eToro (UK) Ltd., is authorised and regulated by the Financial Conduct Authority (FCA). This current license that they have from this regulator allows them to operate as an investment firm.


How long does eToro withdrawal take in the UK?

After submitting a withdrawal request, you will get an email confirmation regarding its status within 2 business days. From the time the withdrawal has been processed by eToro's team, the waiting time for the funds to reflect on your account may take a maximum of 8 business days.


Is Trading with eToro Tax-free for UK Clients?

No. UK imposes a Capital Gains Tax on all trading activities done within the United Kingdom jurisdiction. Read the section above “eToro and UK Capital Gains Tax”.

User Reviews

Listed below are the latest comments of eToro traders from the UK:

 

05/10/2022
⭐⭐⭐⭐⭐
Oliver L. says...
I've been a user of eToro since 2015 and never experienced any problems with my account since I started. It's nice to know that they have reduced the minimum deposit to just around 10 GBP and that they continue to add more products to invest on.
28/09/2022
⭐⭐⭐⭐
Amelia S. says...
What I really liked about eToro is their copy trading feature and their user-friendly app. Knowing that it has a license in the UK gives me peace of mind that my money is safe and that I won't get scammed.
10/09/2022
⭐⭐⭐⭐⭐
George H. says...
I'm a newbie when it comes to investing but eToro made it easier for me to know more about trading forex, stocks and even crypto. It's been over 3 months now and it's been a fairly smooth process including the registration, deposits and even withdrawals. Customer service is also top-notch 👍👍👍

Introduction

Based on the tests that we did, we found eToro's platform to be user-friendly. You will be able to invest on a divese choice of assets including more than 280 UK stocks and various crypto assets as well. What's also notable is its extensive social network where you can learn from professional traders and see their performance at investment portfolio. The social trading feature allows you to follow and interact with these experienced investors and even copy their positions. What it provides is a platform with extensive features that you won't just find with any regular broker. In addition to that, it is locally licensed by the FCA so you won't have to worry about the safety of your funds and with just a minimum deposit of £10, you can start trading without risking a lot of money. Overall, our experience with eToro was entirely positive and for this reason, we are giving them a rating of 5 stars.

Here's the deal: eToro offers an unlimited demo account that you can test out without any commitments. It's free and all you need to do is to open an account in order to use this feature.

If you are from the UK, you can open an eToro account here.

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.

References


  1. ^ Fintech Acquisition Corp V Merger Prospectus/Communication 425 SEC.report


VISIT ETORO 78% of retail CFD accounts lose money