eToro Review



  • Leverage: 1:30

  • Regulation: CySEC,FCA, ASIC

  • Min. Deposit: US$200

  • HQ: Cyprus

  • Platforms: eToro Platform

  • Found in: 2006

eToro Licenses

  • eToro (UK) ltd - authorized by FCA (UK) registration no. 583263 
  • eToro (Europe) ltd - authorized by CySEC (Cyprus)  registration no.  109/10 
  • eToro AUS Capital Pty Ltd. - authorized by ASIC (Austraia) registration no. AFSL 491139 ACN 612 791 803

Top 3 Forex Brokers

  1. What is?
  2. Awards
  3. Safe or a scam?
  4. Leverage 
  5. Account Opening
  6. Trading fees
  7. Deposits and Withdrawals
  8. Trading Platform
  9. Customer Service
  10. Education
  11. Research
  12. Conclusion

What is eToro?

eToro was founded in 2006 by three partners, who aimed to create a financial trading platform suitable to the 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 along with eToro social trading network that serves more than 6 million users from around 150 worldwide countries.

eToro specializes mainly in CFD assets trading and is a social trading community, also is a fully regulated broker including respected FCA and authority of Australian securities (ASIC).

View full reviews of forex brokers in Australia here.

eToro offers both live accounts and demo one with advanced trading capabilities.

In fact, every day thousands of new traders continue connecting to eToro expanding community globally, so let us get closer and understand a reason for that.

Great Social trading environmentHigh Forex fees
Is one of the biggest Social Trading providers with great algorithms and selection between portfolios, particular traders and investmentsUSD is the only one account base currency
Free Stock and ETF trading options
Competitive trading in the EU

eToro review

10 Points Summary
🏢 HeadquartersCyprus and offices in UK, Australia
🗺️ RegulationCySEC, ESMA, ASIC, FCA, etc.
🖥 PlatformsProprietary web-based software
📉 InstrumentsStocks, CFDs, Forex, Commodities, Portfolios, Metals, Cryptocurrencies
💰 EUR/USD Spread3 pips
🎮 Demo AccountAvailable with no limit
💳 Minimum deposit200$
💰 Base currenciesStandard is USD
📚 EducationOffered
☎ Customer Support24/5

How does eToro work?

Since its launch, eToro has gone a path of innovation, creation and introduction of features that moved investment technology and online trading to a new level. Apart from the fact that eToro traders obtaining fast and convenient access to the world financial markets, it provides the ability to copy successful traders from around the world without any commission.

So the way it works being 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 that acts as a market maker and gaining its profits from the charges of spread.

Further on we will cover how to use its platform and how to trade on eToro step by step.

eToro copy trading


Actually, it is a highly rewarded broker too, which gained not only great reviews from the global traders but also timely rewarded by the world reputable editions or international magazines, expeditions, etc. Eventually, eToro Review found that the broker holds awards as Best Broker for Cryptos, Best Broker for Social Trading and many more “best” titles are in its list.

eToro awards

Is eToro safe or a scam?

Apparently, this is the first question any trader should check before any further actions, obviously verify is eToro legit or not in reverse bringing you safe trading conditions. In terms of brokering services, Yes eToro is safe due to heavy regulation the company complies with.

Hereby you can trade assured of protection under eToro safety measures with the strict set of various regulatory standards, while all procedures sharply concord with the international rules. As the funds’ safety is the primary aim, clients’ funds’ are segregated at all times and supervised internally and externally.

This ensures maximum protection of account holders and does not allow eToro to manage client money or use funds in the company’s own purpose. In addition, applied negative balance protection means the trader can’t lose more than his initial balance is, therefore secures positions. Further on we will cover more details about safety in our eToro Review.

Authorized by leading authorities worldwideThere is no financial information available for public
Regulated live trading account
Fully audited Financial service

How is eToro regulated?

eToro provides its trading service through headquarters in Cyprus and its additional entities eToro Europe, eToro United Kingdom and eToro Australia Capital. While entities are authorized by three separate jurisdictions FCA, Exchange Commission CySEC and ASIC.

Therefore it means the 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 provided by Cyprus Securities and Exchanges Commission (CySEC) and UK Financial Conduct Authority (FCA) licenses eligible to trade.

eToro CySEC

In regards to Australian clients, eToro entity operates and provides live trading with authorization and compliance of ASIC license.

Legal entity Country, Regulator and License
eToro (UK) ltd UK FCA registration no. 583263
eToro (Europe) ltd Cyprus CySEC registration no.  109/10
eToro AUS Capital Pty Ltd. Australia ASIC registration no. AFSL 491139 ACN 612 791 803

How are you protected on eToro?

Additional level and amount protection is 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 UK’s FCA eligible to eToro compensation of GBP 50,000 through FSCS and EUR 20,000 for the CySEC clients.


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 is. As the leverage significantly increases the potential to higher gains, in reverse it does increase 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.

What is risk level?

Trading with a particular leverage level sets your risk level at eToro. However, as of the involved risk recent regulatory update in Europe and its ESMA regime also mandated brokers to lower a maximum leverage level to 1:30 with a purpose to protect European clients from lose 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.

eToro leverage

Account Opening

Account at eToro offers conditions in a structured manner through a single account, simplifying account opening with access to Demo accounts and quite low deposit requirement or account balance at the start. designed to give tools for professional development and the potential to progress even if you are a beginner.

The traders account may be entitled to Premium services along with VIP club membership, through access to professional tools, unique promotions, exclusive multi asset platform, funding benefits as well as the personal account manager. This offer, yet, available for those traders who maintain balances from a min $5k.

Fast an4d fully digital account openingMin deposit for some regions is relatively high
Single Account with VIP club option
Easy switch between Demo and Live Account

Can you open an eToro account in South Africa?

If you are South African resident you may open an account as our eToro Review found. The entity which is eligible to offer its service holds an Australian license and also authorized Financial Service provider in South Africa. Moreover, there is even the South African eToro Community which is full of discussions between the traders.

eToro sign up

How to open an account step by step?

So in order to sign up on eToro, you should follow the process with an online application form, or simply sign with you Facebook and access free demo account instantly. Obviously for opening an account with real money, you will need to submit all the necessary proves of your identity and registrations. This means you need to verify your account through a process that is clear to understand or follow.

Once your account is activated you may go to eToro login page to sign in, perform initial deposit of funds (see more details on how to fund your account in our review further) and enjoy powerful trading capabilities.

Account opening process

1. Select and Click on the Sign In page

2. Enter the required personal data (Name, email, phone number, etc.)

3. Verify your personal data by upload of documentation (residential proof, ID, etc.)

4. Complete the electronic quiz confirming you trading experience

5. Once your account is activated and proved, follow with the money deposit.


Another crucial point while choosing a broker is a fees, so let us have a closer look at eToro fees defined as CFD fees and Forex fees. eToro live prices will show you spreads that may vary according to the liquidity terms and generally spreads are on average level comparing to the industry Europe offers.

Eventually, there are indeed other firms that offer lower trading conditions, see the comparison and more details below.

What are Fees?

Fees are always defined by several points, which are typically consisted of the spreads as the main fee charged on each position you take, commissions if applicable, inactivity and non trading fees. Typically CFD Brokers and eToro among them eToro charges no commissions, their fees are generated and built into a dealing fixed spread, which is a difference between bid and ask price.

Free Stock or 0$ Stock tradingHigh Forex fees
Low CFD feesAdditional withdrawal fees
Competitive trading conditions in Europe

Forex Spread

Also, Forex and CFD assets spreads might be calculated in a slightly different way, as well as spreads for investing in Stocks or ETF fees, also may vary according to country rules alike US stock, UK or German one applies different strategy. Yet, you should not be worried as all the calculations are done by the broker so you will see fee conditions upon the opening of the trade.

CFD Spreads

Spread table and comparison between the competition on the most traded instruments gives you an example of minimum spreads. Typically EUR USD spread is fixed on 3 pips, Ripple price eToro about 50 pips and BTC eToro 45 pips while we considered eToro low CFD fees and high Forex fees among the industry.

Fee conditions upon opening of trade

eToro spread

Why is this comparison important?

It is always important to see and know what you should pay and compare other industry offerings. Even though eToro costs are quite high, they are still bearable with our point of view and considering other great points we saw in etoro Review.

You don’t choose a broker only based on a spread. So along to numerous other eToro investment benefits, you’re still winning. For instance, you may check out and compare this broker with its peer Plus500.

Costs are not guaranteed and presented for reference only,  the fee may vary according to market conditions and liquidity.

Trading Fees of eToro vs Similar Brokers
Asset/ PaireToro FeesPlus500 FeesAvaTrade Fees
EUR USD3 pips0.6 pips1.3 pips
Crude Oil WTI5 pips2 pips3 pips
Fee rankingHighLowAverage

eToro overnight fee

You should consider also overnight fee charged by the broker in addition to the traditional spread, in case you hold a leveraged position for more than a day. The fee given by this broker is rather to be high, yet still among the competitive ones in comparison to a similar offering, e.g. eToro EUR USD fee is 3.7%.

Non trading fees

Lastly, there is an inactivity fee, which exists too when depositing account deemed inactive for 12 months, a monthly fee to the sum of $10 will be charged. There are no account charges if you remain active, also additional fees will be charged as deposit fee and withdrawal fee which you may read about further in our eToro Review.

Deposit and Withdrawal

The money management and funding methods at eToro are also quick and simple, which is very pleasant and important for your account management convenience.


Fast digital deposits, including NetellerWithdraw money fee – 5$
0$ depositsUSD is the only one base currency
Withdrawal requests take up to 3 days

Deposit Options

Money transfer 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 the region or another.

  1. Credit Card or Debit Card
  2. Bank Wire Transfer
  3. Payment systems PayPal, Giropay, Skrill, WebMoney, Yandex, China Union Pay

Account Base Currencies

eToro account base currency defines only USD as its measure.

So an additional conversion fee will be applicable while transferring the money either by the broker or by the bank account you use.  

Minimum deposit requirement

Minimum deposit depending on clients’ region and country regulations and varies from $200 for Europe clients and up to $10,000. See some of the examples below, yet you should always check with particular entity customer support in terms of its conditions.

  • Russia citizens also the one from Taiwan, China, Hong Kong or Macau should process a minimum of 500$
  • Australia and USA traders may start with first deposit of only 50$
  • Israel residents may start with a minimum of 10,000$

Deposit fees

Deposit fees are set to a 0 fee, so whatever amount you deposit also according to the chosen account base currency, it will be all available as your eToro dividend, which is, of course, an advantage.

Deposit Option Comparison

  eToro Plus500 AvaTrade
Bank Transfer V V V
Credit Card, Debit Card V V V
Electronic Wallets V V V
Base Currencies 1 10 5


eToro withdrawal funds requests are usually processed quickly, while you shouldn’t have any withdrawal problems. Also, recently since February 2020 eToro significantly improve its withdrawal policy and establish a Withdrawal Dashboard, where the process of withdrawal may be seen along with other information.

eToro deposit methods

Is it a long process to withdraw your money from eToro?

So in order to withdraw funds from your trading account you should proceed with a withdrawal request available from your account management area. Also note, you can withdraw money only to account with your name, third party transactions are restricted and never allowed by any regulated broker.

How do you withdraw money from account?

1. Select and Click on Withdraw Funds’ at the menu tab

2. In the form enter the withdrawn amount

3. Choose the withdrawal method either Credit Card, Debit Card, Electronic wallets etc

4. Complete the electronic withdrawal with necessary requirements

5. Confirm withdrawal fee and Submit

6. Check the current state of withdrawal through your Dashboard

Upon confirmation, you will receive notification about the withdrawal request along with updated statuses to 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 depending on international laws or requirements.

Withdrawal fees

However, you should count eToro withdrawal fee is now only – $5, which is subject to every withdrawal request from your eToro wallet, while the minimum withdrawal limit is $50. This is a great improvement, as before eToro charged 25$ but now significantly lower its fee, which is definitely fantastic.

In addition, eToro Club members of the Platinum tiers and above pay no withdrawal fees.

Can I trade Cryptocurrencies on eToro?

eToro markets 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 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 include Forex, commodities, eToro gold, investing in stocks indices, eToro CFD and a recent growing trend of eToro Bitcoin or other cryptocurrencies as well.

And yes, you can trade Cryptocurrencies on eToro, eventually, the platform offers popular cryptocurrencies through CFDs, yet always sick for CFD trading tips to know how to make best out of it. Cryptocurrency CFD indeed is a great instrument as it fluctuates widely and brings big advantage due to its affordable and secured nature that allows trading Bitcoin, Ethereum Classic, Binance Coin, Dash, eToro Ripple, eToro Litecoin etc.

eToro cryptocurrencies

eToro strives constantly develops not only its huge selection of assets while including more and more eToro Crypto pairs alike eToro xrp, or other instruments. But also advances controls, features and other innovative tools that enhance its already strong trading technology timely. Nevertheless, along with the regulatory framework and investor protection, Cryptocurrency is not regulated in some jurisdictions which remains your responsibility to be verified.

Trading Platform

Web Trading platform

It is a fact that the eToro company rapid reveille started with the presentation of the freshly created platform called eToro OpenBook, the first platform with the concept of social trading, which offered clients to connect to trading communities and successful investors.

  • Best of Show 2015 & 2017 | eToro innovative platform has received multiple awards and vast recognition as a leader in the Financial Technology industry.

Great proprietary Social trading platformNo MetaTrader4 offered
Customer and User friendlyLimited range of tools and analysis
Different platforms Web, Mobile availableOnly Web Version of the platform
Web and Mobile App for iOS and Android
Clean and simple to use
Comprehensive search between portfolios
Simple and quick to navigate
Fee Report
Available languages: Polish, Dutch, English, Thai, Arabic, Portuguese

Look and feel

As for the platform features themselves, the software is simple to use and understand, you can make transactions at 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.

So once you made a security login, you’ll see an interface with watchlists and options to manage your account, search, Portfolio settings and Fee reports with all-time statistics, which is very necessary.

eToro trading platform

Search Functions

One of the great features is eToro is its search function, with a comprehensive detailed search between the traders to copy, which we will see in detail further in eToro Review. Also, you may find defined instruments to trade, communities and other searches organized and easy to use.

Alerts and Notifications

Together with a set of price alerts, notifications and browser notification you may stay updated about the direction you set, which is very useful as it offers easy tracking of the price movements.

eToro charts


The charting itself is clear with good visual characteristics and numerous tools to use for better analysis. Also, the platform offers different tools, eToro API, including a separate schedule for each asset, featuring a number of settings with a large number of indicators for efficient functionality.

Order types

Also together with its clean charts and other functions, there are various orders along with stop-loss configurations that make the trading process under good control. One click trading or icon trade also may be enabled.

eToro order types


So in order to trek your portfolio performance, there is a full portfolio and fee report available, here the historical data is in order and detail. On the ‘Portfolio” tab you will find all the data defined by month, year or specified timeframe including fees, cash flows and orders history.

Mobile Trading Platform

Customer-friendly layoutStandard login without Face ID option
Supporting Android and iOS

eToro mobile trader, which 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, copy other traders or to perform 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.

eToro mobile platform


Recently, the proprietary program for trading CopyTrader, CopyFund are extremely popular and is one of the largest trading communities, which allows newly joined traders to search” the best ranked traders.

How does eToro Copy trade work?

So let us get into the essential details on how exactly 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 at eToro community.

There are two options, either to invest into 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, see snapshot below.

Or if you are a professional you may get copied yourself and earn additional income through a commission received from your copiers.

Also, eToro measuring criteria to choose among the traders consistent with the comprehensive research based on risk level, stable weekly indicators, trading volumes, leading trades, etc. So you always may choose the most suitable trader or a portfolio, defining the most working option for you.

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.

eToro Copy Portfolio

How to make money on eToro?

Well, eventually this is the most interesting and alluring question any trader is asking. As in order to make money on eToro, or with any other broker, you should either deploy your own strategy or may use Copy Trading capability as eToro offers. The copy option is definitely perfect if you just beginning with trading as it may be good investment advice if you do not wish to spend time trading yourself.

Once you found a trader you like to copy you decide how much you will put into copy account also which measures of risks to use. And of course, in parallel, you may copy as much as you find it suitable, also may gain commission from other traders that would copy you.

Nevertheless, in the trading process the most important remains the same and this is the smart management of risks, as trading is a quite tricky business that involves sufficient risk if you didn’t manage your positions correctly. eToro itself provides you will all the necessary tools to succeed in trading, yet the final result always depends on you.

You should stick to discipline strategy with eToro pending close orders and management of your close trade positions with eToro stop loss or eToro take profit limit, etc.

eToro Cryptocurrencies

Desktop trading platform

So does eToro have a desktop trading platform? Eventually no, you can’t login through desktop as the only options are either Web based platform or 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.

Customer Service

As for the assistance,  Customer Support is available 24/5 excluding weekends and available in various languages, with live chat, phones and emails. Indeed, eToro takes client satisfaction quite a priority, therefore, created web based ticketing system so whatever concern or question you may have customer service remains at your disposal.

Quick response and relevant answersNo 24/7 customer support
Availability of Live Chat


Also, all traders may use numerous features like eToro education and eToro guide also with eToro’s research that provides tutorials and education videos about a platform called all in all eToro learning Lab.

Support content is intended to make you a better trader also, it is recommended to use Demo Account to run trials and test strategies in a risk-free environment, which is easily accessible and available by the simple switch between live or demo account through your accounts area.

Demo Account available for practiceEducation videos are rather very basic
Educational videos

You may visit also eToro website and check on best practices, live webinars and the most recent data or updates. So you will learn how to sell on eToro and manage your trading positions smartly, which is crucial for trading success.

Even though, as we see eToro education materials and videos are not super comprehensive and rather medium or basic level, it is best to include some other detailed guides from leading providers in case you’re very beginner.

eToro learning lab


Also, with educational purposes and better decisions, you will stay updated with eToro’s research through updated research tools and research features with fundamental analysis too. In addition,  you may get trading ideas from the community or its diverse portfolio along with analyst recommendations.

Numerous trading ideasNews rather a basic level
Analyst trading recommendation
Webinars with professional traders held regularly

Together with education eToro users may benefit from news feed by the use of common technology including social streaming through twitter, etc.


So why did 6 million customers choose this platform and is eToro good or worth it? There are several reasons, as we see through our eToro Review and the main ones are the flexibility of the trading on eToro platform and the possibility of broad communication with other trading participants. Working on this platform is truly easy and convenient that offers both investing option or regular trading, along with comprehensive automated trading capabilities.

Besides, if you would add to this the advantages and possibility of traders teamwork and high deal bonuses, it becomes obvious that cooperation can bring a good impact to all. In fact, though there are other social trading platforms available, eToro has become today the best and leading in its class.

Can US residents trade eToro?

Eventually there are some restrictions towards specified county residents, which obviously happened due to regulatory restrictions including United States regulation towards CFDs trading and other lists of limitations. Therefore, if you are a resident of the following county you won’t be able to trade eToro, these including:

  • United States of America
  • Belgium
  • Japan
  • Canada
  • Turkey
  • Brazil
  • Iran
  • Democratic People’s Republic of Korea (DPRK)
  • Cuba
  • Sudan
  • Syria

Lastly, eToro is especially suitable for two types of traders. Firstly, the beginning traders interested in trading but want to learn and follow traders that are more experienced. And the second is the professional or experienced group of traders that would like to share the experience or unique strategy through unique exposure.

However note that CFDs eToro cryptoassets are volatile also cryptoassets is unregulated product meaning you should deeply learn how to trade stocks and cryptoassets, along with other instruments which can fluctuate. So you should always consider whether you can afford a high risk of lose money when trading or not.

eToro Pros and Cons

In reverse both types of investors gaining more opportunities with eToro, funds to trade, option to earn commission and possibility to copy a professional. And all that along with personal development among the community of traders around the globe, which all I all indeed made eToro so popular nowadays.

Also, we would be glad to know your personal opinion or thoughts about eToro, which you may share in the comment area below as well as verify some of the details if necessary. As we always happy to assist your choices.  

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2 responses to “eToro”

  1. 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.

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