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Get all the details you need to know about eToro. Find the latest information in this user-friendly and comprehensive wiki page.

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77% 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.

Compare eToro With Others

eToro Logo Robinhood Logo AvaTrade Logo
Minimum Deposit $10 - $1000 (depends on country) $0 $100
Markets 3000+ 5000+ 1000+
Market Types Stocks, Commodities, Currencies, Indices, Cryptocurrencies, ETFs Stocks, Options, Commodities, Cryptocurrencies Stocks, Commodities, Currencies, Indices, Cryptocurrencies, ETFs, Bonds
Maximum Leverage 30:1 2:1 400:1
Spreads Variable Fixed, Variable Fixed
Deposit Methods Credit/Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, Bank Transfer, Local Online Banking Bank Transfer Credit Card, Wire Transfer, Skrill, WebMoney, Neteller
Demo Account Yes (Unlimited) No Yes (21 days)
Regulation FCA (UK), CySEC (Cyprus), ASIC (Australia) FINRA (USA), SEC (USA) CBI (Ireland), ASIC (Australia), FSCA (South Africa), UAE (ADGM). FSRA (Canada)

About eToro

Our Take

eToro stands out with its user-friendly copy trading platform, allowing traders to mirror the strategies of seasoned investors. With a vast selection of over 3,000 assets, including CFDs, stocks, cryptocurrencies, and ETFs, it offers a diverse trading experience.

However, it falls short in areas like elevated non-trading fees, including withdrawal and currency conversion charges, and limited phone support for many regions. Nonetheless, eToro provides a well-rounded trading journey.

Rating: 97/100

Pros and Cons

👍Pros

  • Unique copy trading feature
  • 0% commission for real stock trading
  • Exclusive perks for club members
  • Extensive trading academy
  • Integrated wallet service
  • Licensed by various regulators

👎Cons

  • Platform only uses USD as base currency
  • User interface has no dark mode
  • Flat $5 withdrawal fee
  • No MetaTrader platform
  • Phone support is not available for most countries

eToro scored 97 out of 100 in our detailed evaluation. Ready to dive in?

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77% 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.

Introduction

eToro is a well-known trading platform that offers a range of assets for trading, from stocks to cryptocurrencies. The purpose of this review is to share my personal experience with this broker, highlighting its features, advantages, and areas for improvement.

To evaluate eToro's desktop capabilities, I used a computer that's running on Windows 11. For testing their app on mobile, I used an iPhone 13 running on iOS 16.6 and a Samsung Galaxy S23 running on Android 13.

Demo Account👍
AssetsForex, Stocks, Indices, Commodities, Crypto, ETFs
Base CurrencyUSD
MetaTrader👎
Inactivity Fee$10
E-Wallet👍
Minimum Withdrawal$30
Withdrawal Fee$5
LicenseFCA(UK), Australia(ASIC), CySEC(Cyprus)
 eToro Key Details

Did you know? You can actually open an eToro demo account right now! This only takes just a round a minute to do.

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77% 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.

First Impressions

Upon visiting eToro for the first time, I was struck by its clean and professional design. The registration and account setup were straightforward, with clear prompts guiding me through the process.

eToro registration page
eToro registration page

User Interface (UI)

Navigation is well-detailed, and while there's a learning curve, it's not hard to get used to. The web-based platform is responsive, automatically detecting the device I used, ensuring a seamless experience across desktop, mobile, and tablet.

eToro web-based platform
eToro web-based platform

The platform's green, gray, and white color combination is easy on the eyes, creating a calming environment for trading. However, a minor con is the absence of a dark mode option, which would have been a welcome addition. Also known as "dark theme", this mode is becoming a common option for most platforms as most brokerages are already offering this feature.

BrokerDark Mode
eToro❌
AvaTrade✅
Plus500✅
FXCM✅
XM❌
 Dark Mode Options for Broker Platforms

User Onboarding

The platform offers helpful pop-ups and notifications for first-time users, ensuring a smooth onboarding process. The instructions provided were clear and comprehensive, making the trading world less intimidating for newcomers like me.

Switching to Virtual Portfolio in eToro's platform
Switching to Virtual Portfolio in eToro's platform

See how user-friendly this platform is? Get to experience it yourself by opening an account right now!

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77% 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.

Making a Deposit

One distinct feature of eToro that I noticed is its varying minimum deposit amounts, which are determined by your country of residence.

eToro's $200 initial deposit requirement for German traders
eToro's $200 initial deposit requirement for German traders

For those in the US, an initial deposit of $10 is required. In contrast, UK traders need to start with a minimum of $50. Residents from other countries might encounter deposit requirements ranging between $50 and $200.

Minimum 1st Deposit Country of Residence
$10USA
$50Australia, Austria, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, Germany, Greece, Guernsey, Hungary, Indonesia, Ireland, Italy, Latvia, Liechtenstein, Malaysia, Malta, Netherlands, Norway, Philippines, Portugal, Singapore, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates, Vatican City, Vietnam, UK
$100Belgium, Czech Republic, France (including French Guiana, Guadeloupe, Martinique, Mayotte), Luxembourg, Monaco, Poland, Romania, Slovakia, Slovenia
$200Other countries
$1000Cayman Islands, French Polynesia, Gibraltar, Isle Of Man, Jersey Island, Kuwait, New Zealand, Reunion Island
$10000 Israel
 eToro Minimum First Deposit Requirements

Trading Experience

A fundamental trading strategy I often employ is diversification, which involves blending various investments in a portfolio to mitigate risk.

However, this approach is most effective when partnered with a broker offering a broad range of asset classes. The good news is that eToro has a vast range of over 3000 assets, including:

  • Stocks
  • Forex
  • Commodities
  • Indices
  • Cryptocurrencies
  • ETFs

The downside?

I did notice they only offer around 13 indices, and it would be beneficial to see more, especially from Asian markets.

Meanwhile, the trade execution is impressive, with minimal time between placing an order and its market fulfillment. This high execution speed reduces slippage, ensuring traders get their desired price.

Buying Bitcoin (BTC) on eToro's platform
Buying Bitcoin (BTC) on eToro's platform

The platform also offers a plethora of charting tools catering to both novice and experienced traders:

  • Bollinger Bands
  • EMA
  • Fibonacci
  • Ichimoku Clouds
  • MACD

Social Trading

What really sets eToro apart from the other online investing platforms I've tested is its social trading feature. I was able to grasp the process of following and copying other traders within minutes of signing up. The social features, such as posts from top traders, add an engaging dimension to the platform, offering insights and pro tips that can be invaluable for trading decisions.

But here's the thing...

The basic concept of copy trading truly shines when you're with a broker that boasts a vast pool of traders to emulate. What's the benefit of this feature if only a limited number of traders are available? This is where eToro distinguishes itself from competitors offering similar services.

Here's a basic comparison of eToro's number of users against the user base of its competitors:

BrokerEstimated # of Users
eToro30 million
ZuluTrade2.5 million
AvaTrade400,000
Pepperstone400,000
FP Markets200,000
 Number of Broker User Accounts

With a robust community of over 30 million users from diverse regions, eToro ensures you have an extensive array of profiles and portfolios to align with your risk preferences. There were quite a lot of impressive traders to follow and copy given that this is an expansive social investment network but one of my top favourites is Jeppe Kirk Bonde.

Jeppe Kirk Bonde (@JeppeKirkBonde) trading profile on eToro
Jeppe Kirk Bonde (@JeppeKirkBonde) trading profile on eToro

Ready to follow and copy these top-performing traders? The first thing to do is to sign-up for an account!

SIGN-UP NOW!

77% 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.

Customer Support

eToro provides phone support for countries like the UK and Australia, while users from the US and other regions can utilize email or live chat.

eToro live chat
eToro live chat

Here's a tip: The live chat is particularly convenient, accessible directly from the platform. When I reached out, the wait time was minimal, with an agent joining the chat in less than 1 minute (around 30 seconds to be exact). In comparison to the live chat experiences that I had with other brokerages, eToro is much faster:

BrokerLive Chat Waiting Time
eToro30 seconds
AvaTrade2 minutes
Plus50050 seconds
FXCM1.5 minutes
XM1 minute
 Live Chat Waiting Times

Email responses were prompt, taking only a few hours, a significant improvement over other brokers. The support staff was knowledgeable and helpful, though it would be beneficial to see phone support extended to other countries and the addition of communication channels like WhatsApp, Viber, or Skype.

Security and Trustworthiness

eToro is licensed by various regulators including:

  • UK: eToro (UK) Ltd. regulated by the Financial Conduct Authority (FCA)
  • Cyprus: eToro (Europe) Ltd. regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • USA: eToro USA LLC registered with the Financial Crimes Enforcement Network (FinCEN)
  • Australia: eToro Australia Pty Ltd. regulated by the Australian Securities & Investments Commission (ASIC)

Take note: The specific regulator overseeing your account depends on your residence. For instance, UK residents fall under the purview of the FCA.

Speaking of trustworthiness...

Based from the testimonials I've perused, many users appreciate eToro's platform, particularly its social trading feature. While there were some negative comments, they were few in number. Some mentioned occasional outages, but these seem infrequent.

Now that you're aware eToro is a licensed and trustworthy online broker, consider opening an account.

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77% 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.

Fees and Pricing

Another thing that I particularly liked about eToro is that they are transparent about their fees. For example, before executing a trade, potential overnight fees are clearly displayed, and any relevant action fees, like the $5 withdrawal charge, are indicated upfront.

eToro's fixed $5 withdrawal fee
eToro's fixed $5 withdrawal fee

In terms of competitiveness, their fees sit in the mid-range. An inactivity fee is charged after a year of dormancy, but this can be easily avoided by logging in periodically.

Mobile App Experience

The mobile app mirrors the desktop version's features. While accessing it on a new device requires an OTP, this adds an extra security layer.

eToro mobile app for Android
eToro mobile app for Android

As per my own personal experience with both platforms, the app's performance is on par with the web-based version, offering a smooth experience without lags.

In addition...

I was curious to know their app rating and was quite surprised to find out that their user feedback on the App Store and Google Play Store are generally positive, with scores of 3.5 and 4, respectively.

Mobile Operating SystemApp MarketplaceRating
iOSApp Store3.5
AndroidPlay Store4
 Rating of eToro on App Stores

Areas for Improvement

While eToro offers a comprehensive trading experience, there's always room for improving the user experience:

  • Adding more indices and stocks from diverse exchanges
  • An app for Windows and Mac computers
  • A dark mode option
  • Messaging features for traders
  • Integration with platforms like MetaTrader

Our Verdict

Having tested eToro, I can vouch for its user-friendly interface, diverse asset range, and unique social trading features. While there are areas for improvement, the platform's advantages significantly outweigh its minor shortcomings.

Based on my experience, I would recommend eToro to both novice and experienced traders, with the caveat to always conduct personal research and ensure it aligns with individual trading goals.

Don't just rely on my perspective. Experience eToro firsthand by registering for an account and exploring the platform yourself!

GET STARTED!

77% 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.

Methodology

At Wikitoro, our reviews are anchored in firsthand data, complemented by the insights and expert evaluations of our seasoned research team. We undertake comprehensive assessments of various features, products, services, and tools, ensuring that every trading platform undergoes rigorous scrutiny based on numerous data-centric parameters.

Our analysis delves deep into the broker's fee structure, such as commissions, average spreads for forex pairs, and other trading-related costs, such as inactivity charges, conversion fees, and minimum deposit requirements. Key areas of our research also encompass mobile trading proficiency, the richness of market research and educational resources, and the overall reliability of the broker.

Every piece on Wikitoro is penned by a veteran eToro trader. We do not employ generative AI tools in our content formulation or product evaluation. Our ratings and perspectives are purely a reflection of our exhaustive research and the cumulative trading wisdom we've garnered over the years.

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. 77% 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 does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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.

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77% 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.