eToro Broker Review: A Complete Guide to Features, Fees, and Trading Options

Reviewer Verdict

eToro is a good choice for beginners and intermediate traders who want something easy to use with a social aspect. It’s known for features like CopyTrader™ which lets you follow and copy top investors. The platform works well if you want to see what other people are doing and learn as you go. But eToro can be expensive if you’re active and care about keeping fees low especially on non-U.S. stocks.

eToro official logo

The Pros and Cons

Pros

  • Simple and user-friendly platform
  • Access to CopyTrader™ and investment portfolios
  • Free resources for learning through eToro Academy
  • Big selection of cryptocurrencies

Cons

  • High fees on some trades especially for CFDs
  • Limited options for advanced charting
  • Has a fee for withdrawals

Trust and Safety

eToro is regulated by well-known financial authorities including the FCA in the UK and CySEC in Cyprus. They hold client funds in top-tier banks which makes it safer to trade on this platform. eToro is generally considered secure but trading itself is always risky.

Tradable Instruments

eToro offers a lot of assets to trade including over 6,000 options. You can trade stocks, cryptocurrencies, commodities, forex, and ETFs. In the U.S., the main options are stocks and crypto. International users can also trade CFDs which isn’t available for U.S. customers.

Account Types

eToro mainly offers a standard retail account. There’s also a Professional Account with more leverage but fewer protections. For bigger account balances eToro offers Club membership which brings extra perks and benefits as your balance grows.

eToro portfolio diversification

Commission and Fees

eToro has some fees like a $5 fee for withdrawals and a fee if your account is inactive for over a year. U.S. users get commission-free stock trading. But fees for CFDs and currency conversion can add up and make it costly for frequent trades.

Trading Platforms

eToro’s platform is web-based with mobile apps for easy access on the go. It has a social feed similar to what you’d see on Facebook so you can follow and interact with other traders. But advanced traders might feel limited since the charting options don’t offer much customization.

Unique Features

eToro is known for CopyTrader™ which lets you copy other investors’ trades in real-time. There’s also CopyPortfolios™ which allows you to invest in themed portfolios managed by eToro’s team. This feature is good for people who want a hands-off way to diversify.

Research and Education

The eToro Academy provides a range of resources like webinars podcasts and articles. These cover topics from the basics of investing to technical analysis. It’s great for beginners but experienced traders might want more in-depth tools.

eToro main page

Customer Support

Support is available through a ticket system and live chat. But only eToro Club members at higher levels get access to live chat. There’s no phone support which could be a drawback if you need help urgently.

Account Opening

Signing up with eToro is simple. You provide basic info and go through a verification process. U.S. residents will need to give tax info while international users may need to submit extra ID.

Deposit and Withdrawals

Deposits are free but the methods vary like credit card bank transfer or PayPal. Withdrawals have a $5 fee and processing takes a few days. If you need to convert currencies be aware that comes with a fee too.

Final Thoughts

eToro is best for beginners and intermediate investors who like social trading and want a straightforward platform. With CopyTrader™ and lots of cryptocurrency options it’s ideal if you want a community-focused trading experience. Advanced traders though might prefer other platforms with lower fees and more control over settings.

Advantages of eToro, trusted in the entire world

Contact Info

You can reach eToro through their Help Center. Higher-tier Club members get VIP support for faster help.

FAQs

What is CopyTrader™?

CopyTrader™ lets you copy trades from experienced investors so you can follow along with their strategies.

Is eToro good for beginners?

Yes it’s designed to be easy to use with educational resources for those just starting out.

Are there hidden fees?

Watch out for withdrawal fees currency conversion fees and higher spreads on some trades.