eToro Review

(8,848 user reviews)
3.9/5
Simon Lewis

Simon Lewis

Simon is a recognized world expert in investing. He has tested dozens of investment clubs, communities and investment research services. His research has been featured on Bloomberg, Business Insider, The New York Times, Wall Street Journal, CNet and more.

Ranked #4 out of 5

eToro - Best for crypto and social trading

eToro trading platform is an online brokerage service established in 2007. The fintech company offers a unique social trading feature that allows users to copy other investor’s tradings, giving them the opportunity to learn from successful shareholders. It also gives access to over 10 million registered users who can share their insights and advice on how to trade successfully.

The company has a wide variety of tradable assets, including stocks, ETFs, indices, commodities, cryptocurrencies, and other assets. EToro also offers over 50 currency pairs on global Forex markets to trade. To start investing is necessary to make a minimum initial deposit of $200.

Interactive Brokers Pros & Cons

Pros

Cons

Commissions & Fees

eToro charges no commission on stock trades or ETFs, nor management fees when copying other traders and investing in portfolios. However, the brokerage service charges high non-trading fees, such as a $5 charge for withdrawal requests, inactivity fees of $10/month after 12 months with no activity, and FX charges on non-USD deposits and withdrawals.

Although charging non-trading fees, the platform offers transparent and easy-to-understand pricing. EToro may also charge overnight fees and spreads depending on the size and time of the trade. Spread, which is the gap between buying and selling prices, can vary from asset to asset. For cryptocurrencies, spreads are wide, ranging from 0.75% to 5%.

Stock Trade
ETF Trade
Options Base
Options Per Contract
Futures Per Contract
OTC Trade
CFD's Trades
Mutual Fund Trade
Forex Trade
Crypto Trade
Inactive Account
Withdrawal
$0.00
$0.00
N/A
N/A
N/A
N/A
Variable spread and overnight fees
N/A
Variable spread
Variable spread (0.75% for Bitcoin)
$10 a month after one year
$5
Feature
Fee
Stock Trade
$0.00
ETF Trade
$0.00
Options Base
N/A
Options Per Contract
N/A
Futures Per Contract
N/A
OTC Trade
N/A
CFDs Trades
Variable spread and overnight fees
Mutual Fund Trade
N/A
Forex Trade
Variable spread
Crypto Trade
Variable spread (0.75% for Bitcoin)
Inactive Account
$10 a month after one year
Withdrawal
$5

Educational Content

The brokerage firm provides educational resources through webinars, podcasts, financial guides, tutorial articles, videos, and a trading school. Although the material is valuable for beginners, eToro has limited education tools compared to other leading trade platforms. Moreover, it’s hard to navigate as the content is not centralized in one place.

On the other hand, when joining eToro, users automatically receive $100.000 in fake money to use in a demo account. It’s a great tool for beginners to gain confidence and practice trading before using real money on the platform.

Website & Mobile Platforms

eToro is not recommended for day traders and active investors as the brokerage service does offer a professional desktop platform. However, the company does offer a user-friendly and well-designed web and mobile trading platform.

The website is available in many languages and has a clean design that makes it easy to navigate. The online platform has great functions for casual stockholders to manage their investments, such as good search functions, watchlists, news feed. The most interesting feature is “Copy People”, in which investors can apply social trading by copying and interacting with professional shareholders.

The mobile trading app is easily accessible and has the same functionalities as the website. In addition, investors can receive real-life notifications on their phones about gain and loss of assets.

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