Company Information
eToro is known worldwide for its unique form of social trading. They boast more than 30 million accounts worldwide. eToro abides by strict, strong regulatory frameworks to ensure safety and transparency when dealing with investors. The uniqueness of its platform is underscored to be user-friendly. Some of the features include the CopyTrader™ and Smart Portfolio.
Advantages:
- A great selection of cryptoassets are available with over 80 to choose from
- You can buy the underlying crypto asset
- Fractional trading is available that makes it very accessible
- The eToro Wallet is a great proprietary storage solution.
Disadvantages:
- The eToro crypto spread can be high particularly on more volatile assets
- Less cryptos are available here than you will find on a traditional exchange
Security
The eToro has a structured authorization:
- Financial Conduct Authority (FCA) in the UK.
- Cyprus Securities and Exchange Commission (CySEC).
- Australian Securities and Investments Commission (ASIC).
Users' funds sit in tier-1 banks, and the broker employs SSL encryption to protect all user data. Negative balance protection ensures users cannot lose more than the balance they have in their account.
Tradable Place
eToro enables trading involving more than 3,000 instruments including:
- Stocks - Trade in fractional shares from some of the most worldwide established companies.
- Exchange Traded Funds - Trade through diversified exchange-traded funds.
- Forex - Major, minor, few exotic pairs
- Cryptocurrencies - Bitcoin, Ethereum, Dogecoin, among others.
- Commodities - Trade gold, oil, or agricultural products.
- Indices: S&P 500, NASDAQ, and FTSE 100 are the most popular ones whereby users can invest.
Account Types
Standard
Minimum deposit | 0 |
---|---|
Commission | 1.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 1:400 |
Stop-out level | 50 |
Charges and Fees
Easy to remember charges at eToro are:
- No trading fees or commission charges apply to stock exchanges, with 1 pip forex spreads.
- The withdrawal fee stands at $5; it is in the form of an inactivity fee of $10 after 12 months if no activity has been detected.
Trading Platforms
Available tools | Cryptocurrencies, Stocks, ETFs, Smart Portfolios |
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Cryptocurrencies | AAVE, BAT, BNB, BTC, BTCCash, ADA, LINK, DASH, Doge, EOS, ETH Classic, ETH, FIL, IOTA, LTC, XMR, NEO, DOT, SOL |
CFD | Stocks: 3121 ETFs: 317 Commodities: 27 Forex: 49 Indices: 18 |
They provide their own in-home platform in web and mobile versions. Main features include:
- CopyTrader™ - Follow and replicate the trades of successful investors
- Smart Portfolios - Trades diversified portfolios designed and managed by eToro-Qi
- Analytics Tools - Basic charting and technical analysis for informed trading
Customer Support
eToro offers multilingual services via:
- Help Center - Complete assistance in FAQs and guides
- Live Chat - Exclusive to eToro Club members
- Support Tickets: Email-based support is dealt with quick response
Support hours vary accordingly with financial market hours.
Open Account
With eToro, it is also very easy to open up an account:
- You can register using an email or a social login.
- Next, fill out the KYC process annotating with your ID and proof of address.
- The available payment channels are advertised to provide for depositing funds.
Deposits and Withdrawals
Several deposit and withdrawal methods supported on eToro include:
- Payment Methods: Credit/Debit cards, PayPal, Skrill, Neteller, and bank transfer
- Processing times are generally instant for deposits, while for withdrawals, it takes 1-3 business days.
- Fees: Withdrawal fee is pegged at $5 while very little to no fees are charged upon deposits.
FAQ
Is eToro regulated?
Yes, it is under the guidance and regulation of CySEC, FCA, and ASIC complying with international standards.
What are the trading platforms available?
eToro runs its proprietary web-oriented trading platforms and mobile trading platforms, both of which are equally attractive.
What is the minimum deposit to open an account?
Its minimum deposits vary from one place to another, but $50 covers a deposit in most countries.
What is the maximum leverage available?
They offer leverage up to 1:30 for retail traders as per the regulation of ESMA.