etoro review

Is eToro a good exchange?

Traders who want a simple trading platform, a variety of trading instruments and the option to copy other traders, could find eToro decent exchange.

Deposit fees

Withdrawal fees

Minimum deposit

Accepting US citizens

Regulation

None
$25
$200
No
CySEC
FCA

eToro is most popular for its social trading platform. This means you can choose a trader whose activity you find appealing, and the platform will automatically copy their trades to your account. This can be profitable if you manage to find good traders.

But if you prefer solo trading, you can do that as well with a variety of instruments, including currencies, cryptocurrencies, stocks, indices and more. And if you are successful, other traders can copy you. eToro gives the option to the best traders to become Popular Investors. This means eToro will give you funds to manage, from which you earn 2% of the entire amount.

What kind of platforms does eToro offer?

eToro lets you trade on their web-based platform, but you can also download their mobile apps for Android and iOS.

Standout features

  • No deposit fees. You can deposit funds without incurring any fees.
  • Social trading. Share experience with other traders and copy the best traders.
  • A variety of trading instruments. You can trade CFDs in the form of currencies, cryptocurrencies, stocks, indices and commodities.

Watch out

  • No desktop platform. If you're looking to trade on your desktop, look for other brokers.
  • Poor research and education. eToro is excellent for social trading. And that's it. You won't find solid research or education resources that other brokers offer.
  • High spread. EUR/USD spreads come with 3 pips. Day traders and scalpers will find it hard to trade in such conditions.

What can I trade with eToro?

  • Cryptocurrencies
  • Currencies
  • Stocks
  • Indices
  • Commodities

How do I signup with eToro?

  1. Go to the eToro website.
  2. Click Join Now.
  3. Fill out the application form.
  4. Deposit funds.

Bottom line

eToro is an excellent social trading platform. Also if you're looking to earn money by trading other people's money, this would be a solid platform to start with. However, if you're an advanced Forex trader and you want fast execution and low spreads, you may want to check out other brokers.