Skip links

eToro Experiences: Everything You Need to Know

eToro Experiences: Everything You Need to Know

eToro Trading

Authored by: J. Froentjes
Last updated: 14 August 2022

If you have not been living under a rock for the past couple of years, you would know how cryptocurrency has taken off. The market is huge. And there are tons of inspiring stories of people becoming millionaires through crypto trading.

The eToro trading platform is one of the most popular social trading platforms. It is secure, easy to use, and very popular with tons of currencies and markets available. It is the perfect place for both experienced and beginner traders. The customer service is great too!

However, eToro does have some fees and a few limitations like no third-party payments. Let’s dive into all these in more detail.

Table of Content

What Is eToro: Introducing the Broker

eToro is hands down one of the most reputable and popular social trading platforms. The term social trading means that investors can observe their peers’ investing habits. They can see what industry experts are betting on and investing in.

The platform mainly offers copy trading and financial services. It was founded way back in 2007 and has seen immense growth. You can trade different kinds of assets on the platform.

It did not start as eToro, though. In fact, the company was originally called RetailFX. The founders and co-founders, Ronen Assia, David Ring, and Yoni Assia, are the masterminds behind the now popular platform.

eToro started taking crypto seriously in 2018. That is when they started to offer crypto wallets and launched eToroX, which is its exchange service. The company is valued at $10.4 billion now, not bad, if you ask me. The founders and current CEO Yoni Assia know what they are doing.

What users like is how easy it is to use. But that does not mean that it offers only basic functionality. Serious investors will find eToro to be a very capable and robust platform to trade on.

The platform was one of the pioneers in supporting digital currency like Bitcoin in 2014, and later adding Ethereum support. Fast forward to today, eToro supports over 40 currencies.

The services are enterprise-grade, which professional traders will love. Plus, it also has a wallet that supports multiple cryptocurrencies.

– No wallet needed
– Secured trading platform
– One-stop shop

Currencies Supported on eToro

eToro has come a long way from when it first started. The platform now supports a lot of cryptocurrencies. When you sign up for eToroX, you can deal with over 40 currencies. Here is a list of the most popular ones:

  • Cardano
  • Ethereum
  • Bitcoin
  • Dash
  • Polkadot
  • Solana
  • Stellar Lumes
  • Dogecoin
  • Bitcoin Cash
  • Litecoin
  • Polygon

Is eToro a Trustworthy Platform?

The first question that might come to your mind is whether the platform is trustworthy or not. And that is normal to ask. When you are working with money and thinking about investing your hard-earned assets, the last thing you want to do is partner up with a shady platform.

However, you do not need to worry about anything like that here. As of 2022, eToro has a whopping 28.5 million registered users. All these millions of people are trading high-value assets on the platform every day.

Regardless of that, the platform has years of experience in its field, and that speaks volumes. You do not need to worry about any mishandling of information or assets either.

crypto portfolio

Why do Some Say that it Is a Scam?

Let’s not brush this one under the rug. If you ask enough people, you will likely come across someone that says eToro is a scam. But how reliable is this statement? Well, not at all.

First of all, eToro is regulated. More on this a bit later.

But when a platform is regulated, it becomes really hard to run a scam, especially at this large of a scale. There are governing bodies recording every move on the platform. And there are rules to help investors safeguard their money.

Here is something you should know, though. Risk is inherent in investing. You might win some or lose some. But that is not because of the platform itself. You need to be a savvy investor. Thanks to eToro’s numerous tools and risk management services, that is pretty easy.

How Does eToro Keep its Users Safe?

Let’s dive into some hard facts. Why should you believe that eToro is not a scam? And how does the platform keep its users safe?

Client’s Funds are Safe

First of all, the money is kept in tier 1 banks. This is your money, by the way. And it is kept safely in standard banks.

Strong Encryption

As for your information, eToro uses standard and high-tech encryption to ensure that information does not end up in the wrong hands. It uses SSL encryption for all the personal information you provide to the platform.

Since the nature of the information is sensitive, this is a great thing and will put users at ease, as well.

Transparent Practices

A very clear giveaway that something is unsafe or untrustworthy is the lack of transparency. You will not see scammers trying to tell you everything. It is quite the opposite on eToro.

The platform does not withhold information. It tells you all you need to know about the platform and the risks right away. The platform informs you of the natural risk that comes with investing.

It does not stop there, though. The platform also gives its users the right tools to help them protect their assets and invest wisely. You can withdraw funds at any time and the built-in risk management tools are great as well.

Real Users

If you have been paying attention, then you know that eToro has millions of users. Over 28 million, to be exact. Real users create trust on a platform. To prevent scammers from getting on, eToro always encourages its users to use their real names and identity, which makes sense for a social trading platform.

Apart from that, customer service is available round the clock. Expert representatives are there to help users with any kind of problem. You will always have someone to reach out to in order to resolve an issue.

PLUS500
etoro
IG
RATING :
(5/5)
5/5
(5/5)
5/5
(5/5)
5/5
REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

BaFin, FCA

DEMO ACCOUNT:

✔ Free

✔ Free

✔ Free

LIVE ACCOUNT:

$100

$200

0

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

2000+

1000+

17.000+ (FX, Stocks, CFDs, Commodities and more)

SUPPORT:

24/7

24/7

24/7

PAYOUT:

1 – 3 Days

1 – 3 Days

1 – 3 Days

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

RATING:

(5/5)
5/5
(5/5)
5/5
(5/5)
5/5

REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

17.000+ (FX, Stocks, CFDs, Commodities and more)

PAYOUT:

1 – 3 Days

Regulation And Security of Client Funds on eToro

If you want to ensure complete safety, then partnering with a regulated platform is a must. I would not suggest any other way. Another reason why millions of users are confident in signing up for eToro is that it is regulated.

So, if you were wondering whether the eToro Trading Platform is regulated or not, there is nothing to worry about. eToro is regulated. And these are not run-of-the-mill regulations, either.

The platform is regulated by strict financial bodies and authorities. This gives it a sense of legitimacy. Since the platform offers its services in a lot of countries, eToro needs to operate on a very large scale.

It serves millions of people across 140 counties via eToro licensed companies. All these companies are required by law to comply with all the rules and regulations of the financial bodies and authority.

The specific rules themselves can vary sometimes, but they are put in place to ensure safety. Let’s take a detailed look at the licenses.

eToro USA

In the US, eToro is registered with the Financial Crimes Enforcement Network, also known as the FinCEN. It is registered as a money service business for US residents. That is not all, though.

It even has licenses with different states as well. You can read more in this in-depth guide on eToro regulations and licenses.

eToro Europe

eToro Europe is regulated by the Cyprus Securities and Exchange Commission (CySEC). They are the body that provides the license to eToro Europe. It even holds cross-border licenses as well.

This allows the eToro trading platform to provide services to anyone in the European Economic Area member states.

ASIC License

Australian residents are protected thanks to the Australian Securities and Investments Commission (ASIC) license.

The services are provided by eToro AUS Capital Pty Ltd. The company holds an Australian Financial Services license, along with an Australian Business Number or ABN. It is regulated under the Corporations Act.

London

eToro UK

eToro operates as simply eToro UK Ltd in the United Kingdom. The FCA regulates all the operations and has authorized eToro UK under the FRN 583263 license.

Honestly, users do not need to worry about anything here when it comes to the safety and legitimacy of the platform. It is regulated by strict governing bodies that enforce all the rules to keep users safe.

eToro operates in compliance with miFID, which stands for Markets in Financial Instruments Directive. It is a law that enables more transparency in financial markets to protect investors and consumers just like you.

Things to Know When Signing Up

When you sign up with eToro, you will see the Terms and Conditions page. You will need to accept these terms to open an account.

eToro will tell you which exact entity you will be dealing with. And you can find all the details regarding it on your account as well. This allows you to check the regulations for your specific entity.

– No wallet needed
– Secured trading platform
– One-stop shop

How do I Sign Up for eToro?

Speaking of signing up, let’s see how it all works. Remember how I said that users love the simplicity of the platform? This shines through in the intuitive sign-up process. It takes only a couple of clicks to create an account and get started.

Before we dive into the process, though, let’s check out the account types you can have. There are mainly four types of accounts – professional, retail, Islamic, and demo accounts.

Professional Account

Not just anyone can have a professional account. To become a client, you will need to meet some criteria. These are there to see whether you are suitable for a professional account. Keep in mind that there are some risks involved with becoming a professional client.

First of all, you do not get any negative balance protection. There is also a minimum deposit amount of $50 to $10,000. However, eToro can change this limit at any time. As a professional client, some ESMA protections, like Financial Ombudsman Service Investor Compensation Fund, are waived.

Retail Account

Retail account holders do not have any Investor Compensation Fund coverage. You can receive access to trading assets. This allows you to trade both via copy or manually. However, trading by copy needs to be available.

Islamic Account

eToro has also made it easy for Muslims who follow Sharia law to open an account. It allows you to convert your live trading account into an Islamic account.

This is a separate process. This account does not need you to pay any interest like overnight fees. Also, you need to contact your broker’s customer support for it.

Demo Account

The last type of account is a demo account. You can think of a demo account as a practice account. Your transactions and trades do not have any ‘real’ consequences.

This type of account is perfect for a beginner. I will talk more about whether the eToro trading platform is beginner friendly in more detail later on in the article.

You can use this demo account to get a feel for what it is like to trade on the platform. You will be given virtual funds that you can trade risk-free. It is also a good way to test out your specific trading strategies to see whether they work or not.

How to Open an Account on eToro

So, how do you open an account on eToro? The platform asks you to provide a couple of pieces of information when signing up. This is to verify your identity. It is all standard things like your username, password and email address.

You need to verify your email address, though. After you have done that, it is time to answer some questions. Do not worry, these are not tests or anything like that. It is all just to check your trading experience and risk tolerance.

eToro prides itself on having real users. This not only makes the site legitimate but also creates a safe trading space. The way it does this is by asking for personal information about every user.

The platform will ask things like your address, ID, and more. The complete process takes a couple of days. When you have filled out all the information, you will receive a notification saying that your verification is complete.

Now, you can start trading and creating an eToroX account takes a single click. It is pretty straightforward.

Is eToro Good for Beginners?

New users might wonder whether or not the eToro trading platform is good for beginners. Well, it is. The services offer adequate information on how to use it. The UI design is pretty spot on too!

The process of opening an account is hassle-free. And since you will use the same credentials for eToroX as well, you do not need to maintain two separate accounts. This makes things even easier.

Then there is the trading process. I will dive deep and give you a step-by-step guide on how the trading works in a bit. It is pretty simple for the most part.

When you are familiar with the platform and all of its features, it will become second nature to you.

One of the coolest features is the ability to have a demo account. These accounts are practice accounts that let you check out the platform without any serious consequences. You can ‘trade’ with virtual funds on the platform.

There are some eToro fees when you trade assets, though. But those are not that high and are pretty standard fees. All in all, it will be pretty easy for even a beginner to open an account and start trading.

Of course, you cannot expect that you will become an expert at trading on eToro within a week or two. With some practice and the right strategy, it is very doable though.

How Does Trading Work at eToro? – A Step-by-Step Guide

Want to buy stocks with eToro? eToro makes it easy to trade on the platform. You do not need to know any magic spells to make the eToro trading platform work for you.

You can trade and buy stocks on eToro with just a few clicks. Here is an easy-to-follow step-by-step guide to trading on the popular platform.

Buying Stocks

I am not going to detail the basics here, like opening an account. Of course, you will need to open an account with eToro.

I included a detailed guide on opening an account and account types as well. Once you have created your account, here is how to trade.

Step 1: Head to Markets

Start by clicking on the Markets page. Then you can click stocks to see the list of stocks available. These are the ones you can trade.

Step 2: Select Stocks

From the list, you can choose which stock you want to buy. Just select the stock you want to trade and click on Buy.

Step 3: Enter the Amount

Clicking the Buy button will not do anything. You need to tell eToro how much you want to buy as well. So, enter the amount you want to invest. You can enter the number of units of stocks you can buy as well. Keep the leverage to X1.

Step 4: Select Take Profit (or don’t)

Then, you have a choice here. You can either select the take profit parameter or leave it as is. What does it do? It is just a simple instruction that closes the trade when the market rises. It ensures that your profits go to your balance.

Step 5: Select Open Trade

Finally, just select the open trade option. And voila! You just bought stocks.

– No wallet needed
– Secured trading platform
– One-stop shop

Trading CFDs

eToro is also a popular trading platform for CFDs. And the process of trading CFDs is pretty similar to trading stocks as well. Start by logging into your account and follow these steps.

Step 1: Go to Markets.

Step 2: Click on the desired stock.

Step 3: Click either Buy or Sell.

Step 4: Enter the amount you want to invest.

Step 5: Set the leverage

Step 6: Then also set the Take Profit or Stop Loss parameters.

Step 7: Select Open Trade

Note: When deciding to buy or sell CFD, you need to look at whether you expect it to rise or fall. If you expect the stock to rise, then you buy, and if you expect it to fall, you sell.

Experience With eToro Deposit And Withdrawal

When you buy stocks with eToro, depositing and withdrawing funds into and from your account is something you will do often. So, how is the experience? 

The site makes it super easy and intuitive. Not only are there tons of options available, but there are also no deposit fees, either. All the major payment processors are supported too.

By the way, I included an eToro test section at the end of the article. That is where I will tell you about my personal experience with the platform.

How Does Depositing Work On eToro?

After you get your eToro login, you can deposit and withdraw money. There are some eToro fees you need to know about. First of all, the site gives you a lot of options when it comes to depositing.

You can deposit money either by:

  • PayPal
  • Neteller
  • Bank transfer
  • Credit card
  • Debit card
  • China UnionPay
  • Skrill
  • Klarna / Sofort Banking

However, not all the options are available in every country. There is a minimum deposit limit as well. It can range from $50 to $10,000. This depends on the country. Although the main currency is USD, users have the option to deposit using other currencies.

But you will need to convert it to USD before you can use it or trade with it. To start depositing funds into your account, follow these steps:

Step 1: Logging In

When you first open an account, you will get an eToro login. Log in to your account with the password, email, and username you provided.

Step 2: Click Deposit

After you have logged into your account, click on the Deposit Funds button. It will be on the lower left corner of the screen.

Step 3: Choosing Currency and Amount

The site will prompt you to choose how much you want to deposit and the currency. Enter your desired amount and select the currency from the list of options. If you are depositing funds in another currency, the exchange rate will be calculated based on the day you process it.

Step 4: Payment Method

eToro has different payment methods. So, choose the one you want to use and click Deposit.

Step 5: Check for Confirmation

Once you click Deposit, eToro will send you confirmation of the deposit. If the process is successful, it will tell you that.

Not all deposits are instant. Any online banking deposits will take about three business days to process. But online payment processors like Skrill or PayPal take only a few hours. Sometimes, the funds can transfer within minutes too!

Users can see all their past deposit history right from their accounts. You just need to click the Portfolio button and then navigate to the Clock icon and click on Account Statement.

You can filter the data by date too. Just enter the start date and end date. And it will bring up a list of the deposits and activities you did within those dates.

Dogecoin walk

Is There a Deposit Charge?

There is no deposit charge whatsoever. This means that whatever amount you deposit, you get to keep for trading. Having said that, if you are using third-party payment services, they might charge you a fee. The same goes for banks as well.

Can You Make Third-party Payments?

A third-party payment is when the payment or source of the funds does not come from the owner of the account. You cannot make any third-party payments on eToro.

This is to ensure safety. And that means you cannot deposit any money from someone else’s bank account. All the money needs to come from the primary owner of the account.

Depositing funds on eToro is very safe and secure. Since the site uses state-of-the-art SSL encryption, you can rest assured that your sensitive information will be completely safe. SSL is an industry-standard encryption technology and is used by major banks as well.

Depositing on eToro At a Glance

Minimum Deposit Limit

$50 ($10) to $10,000

Currencies Supported

AUD, CZK, VND, EUR, MYR, PLN SEK, THB GBP, USD, NOK and more

Methods

Credit card, Debit cards, PayPal, Skrill, Online banking, Wire transfer, and more

Charge

$0

How Does Withdrawing Work on eToro

After you buy stocks on eToro or sell, you may have made a profit and now want to withdraw. Thankfully eToro makes that process super easy too!

Just like depositing, there are tons of options for withdrawing. However, there are also a $5 withdrawal fee. There is a bit of a caveat for withdrawing funds in other currencies. You will need to pay a conversion fee in that case.

Having the option to withdraw via different payment processors gives you flexibility. The platform supports the following methods for withdrawals:

  • Bank transfer
  • PayPal
  • Credit cards

Right off the bat, you will see that the platform does not support as many withdrawal methods as deposits. Let’s dive into each a bit more.

Bank Transfer

To use a bank transfer, you need to grant eToro all the details, along with the ABA routing number. And the routing number needs to be Fedwire compatible.

PayPal

PayPal is a widely-used payment processor. But there is a bit of a catch here. You can use PayPal to withdraw only if you have used your PayPal account to deposit funds into your account.

Credit Card

When you use a credit card to fund or deposit money into your eToro account, the same credit card can be used to withdraw funds as well. It cannot be a joint-name account, either. And you will receive the money as credit card refunds, not cash.

PLUS500
etoro
IG
RATING :
(5/5)
5/5
(5/5)
5/5
(5/5)
5/5
REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

BaFin, FCA

DEMO ACCOUNT:

✔ Free

✔ Free

✔ Free

LIVE ACCOUNT:

$100

$200

0

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

2000+

1000+

17.000+ (FX, Stocks, CFDs, Commodities and more)

SUPPORT:

24/7

24/7

24/7

PAYOUT:

1 – 3 Days

1 – 3 Days

1 – 3 Days

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

RATING:

(5/5)
5/5
(5/5)
5/5
(5/5)
5/5

REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

17.000+ (FX, Stocks, CFDs, Commodities and more)

PAYOUT:

1 – 3 Days

How to Withdraw From eToro: A Step-by-Step Guide

Let’s check out how to withdraw funds from the platform. The process is pretty simple and the UI is very similar to depositing. Here is how to do it.

Step 1: Logging In

The first step is the same. You will need to use your eToro login to log into the platform using your account details.

Step 2: Click on Withdraw

Once you have logged in, you will see the menu bar at the right. Click on Withdraw from the pop-up menu.

Step 3: Enter the amount

Next, just enter how much you want to withdraw. Remember that there is a charge. But it does not matter how much you withdraw, the charge is just $5.

Step 4: Read the Notices and Click Submit

When you wish to withdraw the funds, the platform will give you a couple of notices. These are just options you have instead of withdrawing, such as investing in stocks or buying NFTs. If you still wish to withdraw, just click on Submit.

Step 5: Select the Withdrawal Reason

After clicking Submit, choose the reason you are withdrawing your funds. There are a few options. Make sure you choose the most appropriate one and click Continue. After that, you will see the method you used previously. eToro will also show you the actual amount you will receive after the eToro fee of $5 is deducted.

– No wallet needed
– Secured trading platform
– One-stop shop

How Long Do Withdrawals Take?

The time it takes to withdraw money depends on several factors. First, you need to know that there are different time frames here. One is the time it takes to process the request, and the other is you receiving the funds.

All withdrawal processing is handled by eToro themselves. But how long it takes for you to receive the funds depends on the method you used. Processing withdrawals takes about one working day on eToro’s end.

The time is takes to receive it can vary. It can be one or two working days to eight working days. Here is a table to help you understand the time needed.

Method

Time Required

Payment Processors (PayPal, Skrill, and Neteller)

1 – 2 working days

China Union Pay

1 – 2 working days

Credit/Debit Card

8 working days (Maximum)

Wire Transfer

8 working days (Maximum)

 

Withdrawing from eToro at a Glance

Minimum Deposit Limit

$30

Methods

Bank transfers, Credit cards, PayPal

Charge

$5

Time Required

1 – 8 working days (Max)

What Does eToro Offer? – The Conditions for Traders and Investors

eToro has tons of features and markets that make it so popular. You can trade over 2,000 assets. Markets include currencies, raw materials, stock indices, crypto and stocks. And since it is a social trading platform, you can even match other traders 1:1.

And if you have an awesome strategy, then others can copy you too! Plus, you will get paid for it. eToro does have a lot to offer for investors and traders. The platform is secure and safe. Your eToro login and all information are kept safe thanks to SSL encryption.

Then there is the popular investor perk.

It has some pretty sweet benefits for popular investors. That is why many big and successful investors love the platform.

But there are some conditions to meet if you want to become a popular level investor. And there are different levels of investors too!

Conditions for Cadet Level

  • 2 months of trading history
  • Average AUC of at least $500 last month
  • Average equity of $1,000
  • 1 average verified copier at least

Conditions For Champion Level

  • Be at Cadet level for at least 2 months
  • Average of 10 verified copiers in the last month
  • Average AUC of at least $50,000 last month
  • Average equity of at least $5,000
  • Complete the Marketing and Code of Conduct course

Conditions For Elite Level

  • Stay at Champion level for at least 4 months
  • Average AUC of at least $500,000 last month
  • Complement the Investment Management Qualification
  • Average equity of $25,000

Conditions for Elite Pro

  • Be Elite level for at least 2 months
  • Average account equity of at least $50,000
  • Completed the Advanced Investment Management Qualification
  • Average AUC of at least $10,000,000 last month

There are other nuances for qualifying to be a popular investor on the platform. You can check out this eToro’s blog to learn more.

The eToro Trading Platform Test

Before wrapping up, I wanted to tell you about my personal experience with the eToro trading platform and its services like the app, eToroX, and the wallet.

This will give you a clearer understanding of what it’s like to use the platform for trading stocks, crypto, or CFDs.

eToro Trading Platform

The platform as a whole is very intuitive and easy to use. I felt a little overwhelmed with the amount of information it gave me at first. But that just goes to show how many tools you have. It is very well laid out and does every action fluidly.

It is also available on multiple devices! So, you will never miss a beat. As I already mentioned, the market selection is phenomenal too! Data and analysis are very important factors as well.

Thankfully, the platform gives you great analysis and charting tools. You can create data that you can glance at and go in-depth with.

eToro App

When you are on the go, the eToro mobile app will come in handy. It is just as well designed as the desktop version. I found that every button is laid out intuitively and navigating around the app is effortless. The app is available for both Android and iOS devices.

eToro Crypto Exchange (eToroX)

If you are on the bleeding edge of trading and investing, then you probably also want to trade cryptocurrency as well. Thankfully, eToro makes that super easy thanks to eToroX – its cryptocurrency exchange.

Guess what? eToroX has a larger coin selection. Yes, you heard that right. It even beats the regular platform. However, the eToro fees can vary between 0.03% to 0.24% depending on the trading volume.

But just like the regular platform, there are no fees for depositing. I loved this bit and they kept it the same as the regular platform. eToroX is a professional platform with low fees and high liquidity. I found it super easy to use with inexpensive spreads.

eToro Wallet

eToro Wallet is available for mobile devices as an app. I liked it for how well-designed it is. The wallet is a secure place to store your cryptocurrencies. And it supports quite a lot of them as well, 120 currencies to be exact.

And you can also convert the crypto to fiat currency right in the app. This was a very convenient feature for me.

– No wallet needed
– Secured trading platform
– One-stop shop

How to Buy and Sell on eToro

Buying and selling on the platform is very simple. I just followed the same steps I mentioned above. I just had to find the right market for investment. There is a risk load as well. It will tell you the actual position size in the market.

Copy and Social Trading on eToro

Since eToro is one of the world’s most popular social trading platforms, you have the freedom to copy other traders. Copying successful traders is a good strategy for beginners without lots of experience. This goes to show how beginner-friendly eToro is.

You can see trader’s stats and history. From there, you can analyze your risks. Select the traders you want to follow based on different criteria and your risk tolerance. You can also diversify your portfolio by following multiple traders. That is a win-win.

How Does Social Trading Work?

Social trading is very simple and intuitive. Since eToro has such a large number of traders, finding the right one and copying them was pretty easy for me. The trader’s performance is displayed for everyone to see, so you can pick out the right ones.

Step 1: Find the right dealer.

Step 2: Invest in their positions.

Step 3: Hedge your portfolio against losses.

Just keep in mind the eToro fees. I did not find the fees to be too much, but it is always best to be informed. Check out this blog post on eToro fees.

Wrapping Up

Well, there you have it. Now you know all about the eToro trading platform. The site is a reputable and popular social trading platform with loads of currencies and markets to trade. One of the best parts is that it is regulated and the trader’s performance is displayed as well.

My experience with them was fantastic. And beginners will have the same experience as well. But you need to be careful when you are investing, it comes with inherent risks. You need to trade wisely.

PLUS500
etoro
IG
RATING :
(5/5)
5/5
(5/5)
5/5
(5/5)
5/5
REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

BaFin, FCA

DEMO ACCOUNT:

✔ Free

✔ Free

✔ Free

LIVE ACCOUNT:

$100

$200

0

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

2000+

1000+

17.000+ (FX, Stocks, CFDs, Commodities and more)

SUPPORT:

24/7

24/7

24/7

PAYOUT:

1 – 3 Days

1 – 3 Days

1 – 3 Days

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

77% of retail CFD accounts lose money

RATING:

(5/5)
5/5
(5/5)
5/5
(5/5)
5/5

REGULATED BY:

FCA, CySEC, ASIC, FMA, FSA, FSCA

CySEC (EU), FCA (UK), ASIC (Australia)

SPREADS FROM:

Variable from 0.5 bps

Variable from 1.0 bps in EUR/USD

Variable from 0.4 bps

SELECTION OF INSTRUMENTS:

17.000+ (FX, Stocks, CFDs, Commodities and more)

PAYOUT:

1 – 3 Days

This website uses cookies to improve your web experience.