- What is eToro?
- eToro Pros and Cons
- Awards
- Safe or a Scam?
- Leverage
- Account Types
- Fees
- Spreads
- Deposits and Withdrawals
- Trading Platform
- Customer Support
- Education
- Conclusion
Our Review Method
- 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, fees, and platforms, verified regulations, contacted customer service, and placed traders to see trading conditions and give expert opinions about eToro.
What is eToro?
eToro is one of the world leading Forex Brokers and is largest eToro social trading network that serves more than 6 million users from around 150 worldwide countries. eToro was founded in 2006 by three partners, who aimed to create a financial trading platform suitable to traders of all levels, offering easy and convenient trading tools.
In fact, nowadays the parent company became the largest and one of the most popular brokers for copy trading and Social Trading, including US Trading eToro company.
What Type of Broker is eToro?
Based on our findings, eToro specializes mainly in CFD assets trading and is a social trading community, also is a fully regulated broker including a respected FCA and authority of Australian securities (ASIC). The broker offers both live accounts and demo ones with advanced trading capabilities.
How Does eToro Work?
eToro traders obtain fast and convenient access to the world’s financial markets, it provides the ability to copy successful traders from around the world without any commission, known as social trading.
- Since its launch, eToro has gone on a path of innovation, creation, and introduction of features that moved investment technology and online trading to a new level.
We found that it is a brokerage firm that uses modern technology to execute orders and provide you with live quotes available from the word exchanges also enables a trading solution to international traders despite its size and experience. Eventually, eToro trading platforms with social trading capabilities act as market makers and gain profits from the charges of spread.

eToro Pros and Cons
eToro has a long history of operation and is a heavily regulated Broker with an excellent reputation. The account opening is easy, the platform is seamless and easy to use with numerous instruments available, also eToro is number one for copy trading for the number of traders and available portfolios.
For the Cons, the platform is rather basic, spreads for some instruments are high and there is no 24/7 customer support.
Advantages | Disadvantages |
---|
Multiply regulated broker with a strong establishment | Regulatory standards and protection vary based on entity |
Good reputation | No 24/7 support |
Fully audited financial services | |
Competitive trading conditions | |
Great technical solutions and tools | |
Negative balance protection | |
Quality customer support with live chat and fast response | |

eToro Review Summary in 10 Points
🏢 Headquarters | Israel, and offices in Cyprus, the UK, the US, and Australia |
🗺️ Regulation | CySEC, FCA, ASIC, FSAS |
🖥 Platforms | Proprietary web-based software |
📉 Instruments | Stocks, CFDs, Forex, Commodities, Portfolios, Metals, Cryptocurrencies |
💰 EUR/USD Spread | 1 pips |
🎮 Demo Account | Available with no limit |
💳 Minimum deposit | $50 |
💰 Base currencies | Standard is USD |
📚 Education | Offered |
☎ Customer Support | 24/5 |
Overall eToro Ranking
Based on our Expert findings, eToro is considered a good broker with safe and very favorable trading conditions. The broker offers a range of trading services designed for both beginner traders and professionals with low initial deposit amounts. As one of the good advantages, eToro covers almost the globe, so traders from various countries can sign in, also with the lowest spreads.
- eToro Overall Ranking is 9,2 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
Ranking | eToro | Pepperstone | XM |
---|
Our Ranking | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐ |
Advantages | Copy Trading | Platforms | Low Deposit |
eToro Alternative Brokers
We learned that eToro provides Excellent Copy Trading, almost none of Brokers can compete with eToro for Social Trading number of portfolios, also there is a range of trading instruments, good trading conditions, and also low trading spreads and fees. However, there are a number of other brokers that offer similar services. Here are some of the best alternatives to eToro:
- AvaTrade – Good Instruments and CopyTrading
- Pepperstone – Low Spreads and Competitive Trading Conditions
- XM – Wide Range of Trading Opportunities
Awards
Actually, it is a highly rewarded broker too, which gained not only great reviews from global traders but also timely rewarded by the world’s reputable editions or international magazines, expeditions, etc. Eventually, our eToro Review found that the broker holds awards such as Best Broker for Cryptos, Best Broker for Social Trading and many more “best” titles are in its list.

Is eToro Safe or Scam?
Yes, eToro is safe and not a scam, due to heavy regulation and licenses from CySEC, ASIC, and FCA with high trust. Thus, it is secure and low-risk to trade Forex or social trading with eToro.
Is eToro Legit?
We found that eToro’s trading account and financial services fully comply with the measures and regulations set by the respected authorities. According to MiFID that serves European clients and is provided by CySEC and UK Financial Conduct Authority (FCA) licenses eligible to trade.
Besides eToro has an entity in the US available for US residents only, which offers CryptoExchange and trading services. eToro USA LLC is a registered Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) and holds Money Transmitter Licenses (MTLs) in the States where applicable.
In regards to Australian clients, the eToro entity operates and provides live trading with authorization and compliance of ASIC license.
See our conclusion on eToro Reliability:
- Our Ranked eToro Trust Score is 9.5 out of 10 for good reputation and service over the years, also reliable top-tier licenses, and serving regulated entities in each region it operates. The only point is that regulatory standards and protection vary based on the entity.
Advantages | Disadvantages |
---|
Multiply regulated broker with a strong establishment | Regulatory standards and protection vary based on entity |
Good reputation | No 24/7 support |
Fully audited financial services | |
Competitive trading conditions | |
Great technical solutions and tools | |
Negative balance protection | |
Quality customer support with live chat and fast response | |
How Are You Protected?
We learned that an additional level and amounts of protection are also provided to eToro clients through investment protection coverage. Which is a regulatory rule that assures the traders’ accounts by the compensation scheme in case things go wrong with the company. Yet, this rule is different in each jurisdiction, therefore the clients under the UK’s FCA are eligible for eToro compensation of GBP 50,000 through FSCS and EUR 20,000 for the CySEC clients.

How to Set Stop Loss on eToro?
Based on our findings, to set a Stop Loss, just click on the relevant trade in your Portfolio to open the Edit Trade window. Click on Stop Loss and then Set SL. You can set your Stop Loss according to a specific rate in the market. Alternatively, click on Amount to set it as a monetary amount. In addition, you can go back and adjust the Stop Loss at any time while the trade is open. You can also remove the Stop Loss by clicking on No SL.
Leverage
Leverage, known as a loan given by the broker to the trader is another important point in our eToro Review, as leverage enables trading with a larger size than the initial invested capital. As the leverage significantly increases the potential for higher gains, in reverse it does increase the high risk of losing money too.
Eventually, it may be quite risky at the point you set leverage wrongly or too high depending on the strategy you deploy, so you may lose money when trading CFDs with this provider.
- Trading with a particular leverage level sets your risk level at eToro. However, the involved risk regulatory update in Europe and its ESMA regime also mandated brokers to lower a maximum leverage level to 1:30 with the purpose to protect European clients from losing money.
Thus, Europe eToro traders can use a leverage multiplier with a maximum of
- x30 for major currency pairs
- x10 for commodities
- x5 for CFD stocks
- x2 for Cryptocurrencies
However, if you are holding an account with another eToro entity that complies with ASIC regulation, as an example, you may access higher leverage ratios as the authority defines so.
Account Types
Based on our Expert findings, eToro offers a single account, with a simple account opening and access to a Demo account. The trader’s account may be entitled to Premium services along with VIP club membership, with access to professional tools, unique promotions, an exclusive multi-asset platform, and funding benefits as well as the personal account manager. This offer is available for traders who maintain balances from a min $5k. Besides, trading conditions and accounts may be different depending on the eToro entity you would trade, like US clients can open only CryptoWallet and trade Cryptos with completely different conditions compared to European accounts.
Pros | Cons |
---|
Fast and fully digital account opening | Min deposit for some regions is relatively high |
Single account with VIP club option | |
Easy switch between Demo and Live Accounts | |
Low minimum deposit | |
How to Open eToro Live Account?
Opening an account with eToro is quite easy. You should follow the opening account or sign-in page and proceed with the guided steps:
- Select and Click on the Sign In page
- Enter the required personal data (Name, email, phone number, etc.)
- Verify your personal data by upload of documentation (residential proof, ID, etc.)
- Complete the electronic quiz confirming your trading experience
- Once your account is activated and proven, follow with the money deposit.

Trading Instruments
We learned that the eToro market range is generally among the most advanced in the industry, as offers a truly wide range of products through thousands of different financial multi-asset platform which offers categories with flexible eToro market hours. Each class has its own characteristics and can be traded by a strategy suitable to your style or through a choice of the successful strategy to follow using eToro copy trading.
The eToro products range includes Forex, Commodities, eToro Gold, investing in Stocks Indices, eToro CFD, and a recent growing trend of eToro Bitcoin or other cryptocurrencies as well based on CFD basis trading.
For US traders, eToro only offers real cryptocurrency trading, as it does not have licenses from CFTC and NFA, the two derivatives trading regulators in the USA.
- eToro Markets Range Score is 8.9 out of 10 for wide trading instrument selection among Forex, Stocks, Indices, Cryptos, and more.

How to Buy Bitcoin on eToro?
Based on our findings, traders can buy bitcoin easily via card payment methods with the following simple steps:
- Sign up to open an account on eToro, a process that takes a few moments. Fill in the information about yourself and verify your account.
- Link your debit card account and transfer Funds. A mandatory verification process will follow this step.
- Buy bitcoin on eToro by simply clicking on the link and purchase bitcoin. On eToro you can also purchase a fraction of a bitcoin.
However, we recommend avoiding any kind of risk that could result in the loss of your capital.
eToro Fees
We found that eToro trading CFD fees and Forex fees are average. To get the full picture of eToro fees important to check additional fees like a commission for deposits or withdrawals also non-trading fees. Typically CFD Brokers and eToro among them charge no commissions, the fees are generated and built into a dealing spread.
We learned that eToro charges an inactivity fee, if you do not trade in 12 consecutive months, a $10 monthly inactivity fee will be charged on any remaining available balance. There are no account charges if you remain active, also additional costs will be charged as deposit fees and withdrawal fees.
- eToro Fees are ranked average with an overall rating of 8.2 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on entity offering, see our findings of fees and pricing in the table below, however, eToro overall fees are considered good.
Fees | eToro Fees | Pepperstone Fees | AvaTrade Fees |
---|
Deposit fee | No | No | No |
Withdrawal fee | Yes | No | No |
Inactivity fee | Yes | No | Yes |
Fee ranking | Low, Average | Low | Average |
Spreads
Based on our Expert findings, we learned that EUR USD spread is fixed at around 1 pip, Ripple price eToro about 50 pips, and BTC eToro 100 pips while we considered eToro low CFD fees and Forex fees among the industry.
- eToro Spreads are ranked low with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average, and spreads for other instruments are very attractive too.
Asset/ Pair | eToro Spread | Pepperstone Spread | AvaTrade Spread |
---|
EUR USD Spread | 0.97 pips | 0.77 pips | 1.3 pips |
Crude Oil WTI Spread | 5 pips | 2.3 pips | 3 pips |
Gold Spread | 4.5 | 0.13 | 4 |
BTC/USD Spread | 102.71 | 31.39 | 0.75% |
Deposit and Withdrawals
We found that the money management and funding methods at eToro are quick and simple, which is very pleasant and important for your account management convenience. eToro withdrawal options offer popular bank transfers, credit cards, and some electronic wallets.
- eToro Funding Methods we ranked good with an overall rating of 8.5 out of 10. The minimum deposit is among average in the industry, yet fees are either none or very small also allowing to benefit from various account-based currencies, yet deposit options vary on each entity.
Here are some good and negative points for eToro funding methods found:
eToro Advantage | eToro Disadvantage |
---|
Fast digital deposits, including Neteller, Skrill, and PayPal | $5 withdrawals fee |
$50 is a first deposit amount | USD is the only one base currency |
Withdrawal requests take up to 3 days | |
No internal fees for deposits | |
Deposit Options
Money transfers may be performed through the following methods, while all transactions are made as secure as possible and protected by SSL technology. However, methods may vary according to the regulatory obligations in one region or another.
- Credit Card or Debit Card
- Bank Wire Transfer
- Payment systems PayPal, Giropay, Skrill, Neteller WebMoney, Yandex, China Union Pay
eToro Minimum Deposit
The minimum deposit depends on clients’ region and country regulations and varies from $10 up to $10,000. In many European countries, the minimum deposit for the investment starts from $50. So this is the most common minimum deposit amount for eToro.
|
eToro |
Most Other Brokers |
Minimum Deposit |
$50 |
$500 |
eToro Withdrawals
We found that eToro withdrawal requests are subject to a $5 fee, while does not charge a deposit fee. In addition, eToro Club members of the Platinum tiers and above pay no withdrawal fees.
How Withdraw Money from eToro Step by Step:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
Upon confirmation, you will receive a notification about the withdrawal request along with updated statuses in your email. The broker will process the withdrawal transaction request within a few business days. In addition, you should allow your payment provider to process funds into your account, which also takes a few days and depends on international laws or requirements.

Trading Platforms
Based on our findings, we learned that eToro offers its own eToro investing platform and app, with an easy-to-use, intuitive interface. The platform is ideal for trading 3,000+ financial instruments across various classes, and also for Social trading. CopyTrader platform is also available while trading with eToro.
- eToro Platform is ranked good with an overall rating of 7.5 out of 10 compared to over 500 other brokers. We mark it as good being one of the best proposals we saw in the industry, suitable for professional trading. Also, all are provided with good research and excellent tools.
Trading Platform Comparison to Other Brokers:
Platforms | eToro Platforms | Pepperstone Platforms | XM Platforms |
---|
MT4 | No | Yes | Yes |
MT5 | No | Yes | Yes |
cTrader | No | Yes | No |
Own Platform | Yes | Yes | Yes |
Mobile Apps | Yes | Yes | Yes |
Web Trading Platform
We found that eToro has created a platform called eToro OpenBook, the first platform with the concept of social trading, which offered clients to connect to trading communities and successful investors.
As for the platform features themselves, the software is simple to use and understand, you can make transactions on the eToro trading platforms with no need to download or install the software. Everything happens right through the eToro website, also as a Cryptocurrency trading platform, or through eToro mobile App.
Desktop Platform
We learned that actually, eToro does not have a desktop trading platform. You cannot log in through the desktop as the only options are either a Web-based platform or a mobile application. Also, if you prefer to use industry leader MetaTrader4 you should find another broker available from the list, as eToro does not offer MetaTrader4 as a trading platform.
Mobile Trading Platform
eToro mobile trader, which has been integrated through two platforms OpenBook and WebTrader allows you to stay connected at any time through one single application eToro App. All features available: checking real-time feeds, copying other traders, or performing any permitted by platform action. Both Android and iOS devices are supported, which is a great way to trade at any time and under any conditions.
How Does eToro Copy Trade Work?
Based on our Expert research, we learned how exactly the eToro Copy trade works. Once you sign in and confirm all the necessary data for Live account opening you may join millions of traders from around the globe available in the eToro community.
- There are two options, either to invest in someone else’s by seamless automatic copying of selected eToro popular investor, or particularly developed trading portfolios specifying some layer of industry or group of instruments, traders, etc. Also, you are always defining all the necessary risk levels yourself, the amount you wish to invest, and still with the capability to manage orders
- If you are a professional you may get copied yourself and earn additional income through a commission received from your copiers.
- It is also interesting that not only transactions of individual traders can be copied, but various investments into some industry portfolio or groups too, which all in all brings truly great investment advice.

Customer Support
Based on our findings, customer support is available 24/5, and available in various languages, with live chat, phones, and emails. Indeed, eToro takes client satisfaction quite a priority, therefore, created a web-based ticketing system so whatever concern or question you may have customer service remains at your disposal.
- Customer Support in eToro is ranked good with an overall rating of 8.2 out of 10 based on our testing. We got fast and knowledgeable responses, also quite easy to reach during the working days.
See our find and Ranking on Customer Service Quality:
Pros | Cons |
---|
Quick responses | No 24/7 customer support |
Relevant answers | |
Supporting numerous languages | |
Availability of Live Chat | |
eToro Education
Based on our research, we found that eToro provides a rich collection of educational materials including online trading courses for both beginners and advanced traders, webinars, fundamental analysis, technical analysis, video tutorials, and more.
- eToro Education ranked with an overall rating of 8.5 out of 10 based on our research. The broker provides very good quality educational materials, and excellent research also cooperates with market-leading providers of data.

eToro Review Conclusion
Concluding the eToro review, we admit a safe broker to trade with reliable trading solutions. eToro provides expanded trading strategies and a certain way of dealing with markets and traders that gained a reliable and respected reputation.
We learned that eToro doesn’t provide flexibility in terms of platforms or any other platforms like MT4 or cTrader, it uses its own technology only all based on Web Verison, however its great Social Trading and Copy Trading capabilities are trully outstanding and made eToro #1 Social Trading Broker worldwide with one of the best Copy Trading Portfolios selection overall. Also, currency pairs, and a number of provided solutions is other key advantage to its positive side. The broker offers competitive costs and good education materials and research suitable for traders of different levels.
Based on Our findings and Financial Expert Opinions eToro is Good for:
- Social trading
- Beginners
- Advanced traders
- Investment Portfolios
- Currency and CFD trading
- Variety of trading strategies
- Supportive customer support
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Hello! I started investing with eToro a few months ago. I probably sent around 30k to eToro in several transfers. Few weeks ago, for reasons out of my control, one of the transfers I sent was returned to my bank. I asked eToro about what should be done, and right after that they limited my account. They said I should proceed with the transfer once again, but the support manager probably was in a huge confusion as my account was still limited for both … deposits and withdrawals.
By the way, I’m a Platinum member and I’m supposed to get priority support assistance, but that’s just a huge lie. It’s just a marketing trick. No priority and actually no Support at all.
Although my account was fully verified and I provided them with every document they asked for, I’m waiting for around 3 weeks for some assistance in this matter, with no success.
My account is limited, with over $19,000 in balance, with no option to withdraw my money in any way. Not even to trade.
You’ll probably ask me about support assistance???? Or even about Support Manager and Priority (as advertised)??????
That will be a good question, as I can say that even if I asked to close my account or to leave me to cash out my money in some way, there is SILENCE. I only receive some template messages asking me to wait and to thank me for understanding. WHAT?????? Are you kidding with me?
Is there any reason for them to hold my money for that long? I owe them anything? The funds are just in my Dollars balance. They are using my money to make profit and there is no sign about getting my money back.
INCREDIBLE!!!!!!!! Right???????
STAY AWAY from eToro if you want to use your money. Is easy to send them the money in the first place but it becomes impossible to get your money back.
I’m begging them for my money. That’s not “cool” AT ALL.
Comment do you guys have a option of a scalping account?