eToro review, a multi-asset broker online, is well-known for its copy and social trading. It was established in 2006 by Ronen Assia (Yoni Assia) and David Ring. They offer CFDs and cryptocurrencies as well as stocks and ETFs. eToro has a large client base and operates in over 140 countries. The company headquarters is in Tel Aviv, Israel. eToro, a trusted broker, is regulated by the highest-ranking authorities. These include the United States, Australia, and UK.
Summary:
eToro is a leading brokerage firm that offers commission-free stock trading. They have great fees, a mobile app that is easy to use, a wide variety of investment options, and copy trading. We recommend eToro for copy, stock and cryptocurrency trading.
Social copy trading is the main attraction of eToro. Users who do not want to trade can copy successful traders’ trades. This allows for peer-to-peer communication by offering a messaging feature, social media feed and other similar addons. We will go into more detail about them. eToro does not allow fully automated trading systems.
More than 300 million trades have been made through their platform. The company is expanding its operations and focusing on Asian markets. It will provide brokerage services to China, Hong Kong and other Asian countries.
Here’s a list listing all registered subsidiaries of companies:
- United Kingdom eToro U.K. Ltd. is regulated by Financial Conduct Authority ( FCA).
- Australia eToro AUS Kapital Pty Ltd. is regulated under the Australian Securities and Investments Commission.
- Cyprus eToro Europe Ltd. is regulated by the Cyprus Securities and Exchange Commission.
- United States eToro USA LLC regulated US FinCEN
This eToro review will explain why.
This comprehensive eToro analysis was compiled by us. This will save you time and help you compare what eToro offers before you decide on which brokerage company to use. This will allow you to compare key characteristics and features. Then, you can narrow down your choices and go through their demos to decide which one to use for your trades.
There are many things to take into consideration. You may find it overwhelming to choose the right one that offers competitive fees, excellent customer service, and a user-friendly interface. And, of course, make sure you protect your money.
Overview
eToro offers a range of investment products, including stocks, fiat currencies and commodities, exchange-traded fund funds, and 15 cryptocurrencies. Some can be traded via CFDs, while others are actual assets.
They were the first to offer social trading. They were the first to adopt this trend. Today, many competitors offer similar options. eToro is still the leader in this area. Social trading is a mix of social media and a chat room where people can connect. You can follow other traders and see what instruments they trade and their performance. Two new products were introduced by them in this area: CopyTrader (tm) and copyPortfolios_(tm).
Their reputation for being a reliable and trustworthy broker has earned them a good reputation from both day traders and experienced traders. Its low fees and user-friendly platform are the reasons for this reputation. Plus500 is a great alternative to eToro. Forex traders should review Pepperstone and AvaTrade.
eToro raised $100 Million in private equity from China Minsheng Financial, Korea Investment Partner and other investors.
They launched a crypto trading platform called eToroX in 2019. It was regulated by Gibraltar Financial Services Commission ( Gibraltar FSC) as a Money Service Business and registered with FinCEN.
eToro offers a web-based platform and a mobile platform. However, there is no desktop platform.
There are 26 languages available on their interface. It is modern and polished, which makes it appealing to younger customers than other brokers’ traditional shares trading.
The interface is not customizable. Traders must feel at ease.
eToro Mobile App
Both the mobile app and web platform offer two-step logins, which increase their security. Predictive search functions are available. These functions allow traders to search through the many securities available on their mobile devices.
Both versions offer real-time market price alerts, notifications, and can be sent via Push Notifications.
You can find reports under the portfolio tab. A summary of trades and market values can be found under the portfolio tab. A statement of accounts is available that summarizes the transactions made over a period.
Minimum Trade Size
Minimum trade size at eToro effective December 6, 2020
A user of eToro can open a position for oil (commodity – $1000 minimum) with $100 leverage and $100. Copying a trader’s trades is limited to $200. Each copied trade must be at least $1.
High-volume active trades may need to look elsewhere as eToro’s maximum trade size is too small.
Fees
eToro’s trading costs are at the low end of the industry. There are no fees for stocks that are US-listed. CFD fees for US-listed stocks are very low and are included in the spread.
The S&P 500 CFD Fee is 0.75, while the Europe 50 CFD Fee is 3.
The spread for cryptocurrencies is between 0,75% and 5%. Unless you trade under ASIC (Australian Securities & Exchange Commission), you get ownership.
It is expensive to trade currency pairs. The cost of trading EURUSD is 3 pip, while other brokers charge between 0.6% and 1 pip per transaction. Forex brokers can be a better option for traders looking to trade. Spreads that are higher for active traders or those who trade high volumes of forex are not a good idea.
Deposit fee
eToro does not charge a deposit fee. Most brokers do not charge any fees for depositing money.
Withdrawal fee
Bank transfers are subject to a $5 withdrawal fee by eToro. This fee is in line the industry standard.
Inactivity Fee
Inactivity fees are $10 per month at eToro. If the user does not log in to the account for 12 consecutive months, eToro will charge $10 per month in inactivity fees. It is based on the current market conditions and will apply to overnight rollover fees.
Types of Order
There are four types of orders that eToro offers:
- Market – A market order is executed at a price that is quoted at the time the order is placed.
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- Trailing stop loss: An order that allows trader to lock-in gains while it executes the asset’s sale. It is inactive while price moves in favor of it.
CopyPortfolios
eToro offers CFDs for financial markets other than stock indexes and commodities. It also has certain asset management solutions such as Copy Portfolios ™, and Copy Traders ™. CopyPortfolios are an innovative feature that allows traders to be grouped into one fund that others can copy. CopyPortfolios can be a great option for eToro clients looking for a passive investment method.
CFDs are available for cryptocurrency trading, as is trading the actual asset (“physical”) UK etoro customers cannot trade crypto CFDs ( FCA Crypto CFDs Derivates Ban). The Netherlands, France, and the French Territories are not able to trade cryptocurrency.
Education
eToro has a few education tools. There are weekly webinars, tutorials on the platform and frequently asked questions. These tutorials include beginners trading guides, basic platform tutorials and advanced tutorials.
Platform Educational Content
eToro offers a detailed section alongside the instruments on its platform. These details provide additional information beyond the basic information. You can find information about the instrument and what you should consider before trading.
Trading School
eToro offers a “Trading School”, where you will find a series basic videos. They don’t go into detail on any topic and they weren’t particularly helpful to me. You can also find past webinars, and other educational content on their YouTube channel. You can find analysis videos, webinars and other tutorials on the YouTube channel.
Demo accounts are a great way to start learning, even if you don’t have the money.
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