eToro Review

eToro Broker Products

There are thousands of different instruments that eToro traders have access to. This covers everything from forex to CFDs, stocks, commodities, and cryptocurrencies. A lot of traders are happy that they can choose between trading the underlying asset or trading CFDs for the given asset. There are also dozens of different cryptocurrencies that are tradable on eToro, but there are no crypto CFDs to check out. For forex traders, there are almost 50 different currency pairs on offer.

eToro Trading Conditions

eToro has a good reputation for having fast execution. The level of leverage you can use is going to depend on what instruments you are trading and your account type. It generally is preferred for its social copy trading functionalities and its cryptocurrency trading, with its CFDs and forex trading offering not being as popular due to the relatively higher fees.

eToro Account Types

eToro has separate account options for retail and professional traders. For retail traders, the sole account option only requires a £50 minimum deposit.

eToro Commission and Fees

eToro acts as a market broker and the typical spread is going to be about 1 pip for EUR/USD, which is about average for the industry. Certain types of trading, such as US stocks, will carry no commission charges. There are also different discounts you can get depending on if you are a member of the eToro members club or not.

Generally, if you are trading at higher volumes, the fee structure at eToro is not as competitive as other brokers. When it comes to trading cryptocurrencies, you will pay 0.75% when you buy or sell Bitcoin. For trading fiat to crypto, the fee of 5% is quite high. There is also a £5 withdrawal fee in place.

eToro Platform and Tools

One of the highlights of the eToro offering is the social trading aspect. The overall proprietary platform is also very easy to use, making it a good entry point for a lot of new traders. You have the ability to quickly manage your dashboard so you see what is most relevant to your needs.

Its CopyPortfolio tool allows traders to be grouped together, allowing for effective copy trading. This allows people to take a more passive approach and copy a successful trader on the platform. However, everything is done manually as there is no allowance for fully automated trading systems.

Therefore, you know that the person will have placed each of those trades themselves. There are plenty of tools for cryptocurrency traders, including crypto trading ideas. There is also the ability to get an eToro demo account. You have access to more than 60 indicators, as well as over a dozen drawing tools for charting.

Is eToro Mobile Friendly?

As eToro is a browser-based trading platform, it is accessible on mobile devices through popular web browsers. This version has been optimized to make sure that everything works as it should despite the smaller screen size.

You also can access eToro through the dedicated app for both iOS and Android users. You can customize the layout of the app and you get access to a wide range of features, including charting and easy access to a cryptocurrency wallet.

eToro Promotions

At the time of writing, eToro was not offering any sort of promotions to its user base.

eToro Deposits and Withdrawals

To add funds to your eToro account, you can do so through leading credit and debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna, Bank Transfer, or Trustly. The supported currencies will vary, as well the size of the max deposits. Most of these options (except for bank transfers) will process your money instantly to your account.

Usually, your funds will then be withdrawn through the same method, unless this is not a possibility. eToro usually takes a single business day to process payout requests. Then the time it takes to get your funds will depend on your withdrawal methods. Most of the methods will take 1-2 business days, while bank transfers and card withdrawals can take up to eight business days.

eToro Customer Support

There is a comprehensive help center in place at eToro that provides you with useful answers to a whole host of topics. Therefore, you will often have any issues resolved by simply taking a trip to this section. Otherwise, you can try to reach the customer support team at the broker directly.

You are able to use the live chat function or send the team an email. The responses across the board tend to be pretty good and a variety of languages are catered for. The live chat is operational 24/7, while the response time for emails is generally within three hours. eToro does not currently offer any form of phone support.

eToro Research and Education

eToro has a solid range of research tools. It has all of the standard types of economic calendars, reports, news features, and daily market analysis. There are also some useful podcasts. eToro delivers nicely when it comes to fundamental analysis for shares in particular.

There is also sentiment data available based on what other traders on the platform are doing. Finally, there is also a content feed wall that can be integrated into your dashboard, showing you a scrolling feed of the latest thoughts of other eToro traders for a given instrument in real-time.

In terms of education, there are webinars taking place each week, covering a wide range of different topics. There are also plenty of articles and other forms of educational content available to people. The Trading School provides a video series for people who are getting started with trading, while there is also a whole host of YouTube videos available.

Noteworthy Points to Mention for eToro

eToro is a very user-friendly offering, making it an ideal selection for beginner traders. It also has a competitive cost structure for lower-volume traders. There are plenty of functionalities with the mobile and desktop platforms that make it easy for traders, while the copy trading functionalities are some of the best that you will see in the space.

Conclusion for eToro

If you are someone who is beginning in trading, enjoy having the option to engage in copy trading, or like buying and selling cryptocurrencies, then eToro is a great option for you. The proprietary trading platform is very easy to use and its social trading features are some of the best in the world today. Having been around for many years, eToro has built up a solid offering and offers great customer support to its 20 million users.