eToro Review Is it a Reliable Platform? 2024 Updated

CFD are banned in many countries, therefore you may not be able to use this financial instrument to invest your money. This can be a problem when trying to switch brokers and move those shares. It doesn’t have a section where you can read news relevant to your investments. Instead, it has a kind of social network where other investors add comments and maybe links to relevant (or not) news.

EToro is one of the few brokers that allows customers to trade stocks, options, and cryptocurrencies in the same place. As of February 2023, eToro allows customers to trade in 24 different cryptocurrencies. One of the biggest differences between eToro and other stock brokers is the community-focused nature of its platform. It offers a collaborative community of traders, and even allows customers to automatically copy the trades of top traders on the platform with whatever dollar amount they are comfortable with. We recommend comparing brokerage options to ensure the account you’re selecting is the best fit for you. To make your search easier, here’s a short list of our best trading platforms of 2024.

  1. EToro has a straightforward, simple design that makes it easy for traders to find what they’re looking for.
  2. If you are buying stocks without leverage on the eToro platform, you are not buying a CFD, you are buying a real asset.
  3. It’s somewhat similar to investing in a specific index where someone chooses a mix of assets to invest in for you.
  4. That compares to the industry standard fee of $0.65 per contract.

Between the Nasdaq and NYSE, there are about 6,200 publicly traded companies. There are another 3,700 or so that trade over the counter (OTC). There are also more than 3,140 ETFs that trade on the public markets, as of February 2023.

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Any money held in the ISA will also count towards eToro’s Club programme (more on this below). Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk. You should always check with the product provider to ensure that information provided is the most up to date. Asktraders is a free website that is supported by our advertising partners. As such we may earn a commision when you make a purchase after following a link from our website. The company offers a highly usable website with a professional layout and intuitive navigation, which is a major advantage.

An early pioneer in social copy trading, eToro was founded in Israel in 2006 as a financial trading technology developer. EToro expanded to the U.S. in 2018 and has since grown both its user base and its offerings. In August 2022, eToro signed an agreement to purchase Gatsby, an options trading platform. Once you open and fund an account, etoro broker review you have access to a wide variety of cryptocurrencies or currency portfolios. Further, eToro offers fractional shares, so you do not have to buy one full bitcoin to get exposure. I don’t think it’s a good idea to offer options and stock trading in separate apps, as it’s likely to lead to investors becoming confused about what they own.

Is eToro really free?

It is of the utmost importance to include the unique Transaction ID to allow eToro to efficiently recognize the transfer and credit your investing account. Instant payments like Credit Card, e-wallets and others will appear immediately on your eToro account. Etoro has some of the best customer service I have ever experienced; no matter the issue, they will always have a solution. EToro is regulated by top financial authorities like the CySEC, FCA, and ASIC.

Trading platform stock chart features

Founded in Tel Aviv in 2007, eToro is the world’s leading social trading and investing platform. Since introducing the world’s first-ever social trading platform back in 2010, eToro has been at the forefront of the fintech revolution. EToro’s most recent innovation comes in the form of CopyPortfolios — an AI-powered investing product driven by machine learning.


The platform shines with an intuitive site design so investors can easily discover traders they’d like to follow or quickly place their own trades on the platform. Twitter and eToro partnered on April 13, 2023, to release a new investing feature on the popular social media platform. The Twitter app will now allow users to buy and sell various investments and other assets (such as stocks and bonds) through eToro. Users can also view market charts and other financial tools in real time. EToro is a world leading trading platform offering sixteen crypto trading pairs. These include the following six crypto-only pairs, (ETHXLM)Ethereum-stellar, (ETHEOS) Ethereum-EOS, (ETHBTC) Bitcoin-EOS, (BTCEOS) Bitcoin-EOS, (EOSXLM) EOS-stellar and (BTCXLM) Bitcoin-stellar.

Everything is so simple that a new trader will easily find the needed features. However, the bad side is that it is hard to customize, and this due to the fixed panels. There is no maximum deposit when using a normal bank transfer although it takes up to 7 business days. On the other hand, debit/credit card and electronic wallet deposits are immediate, it’s just that there are per transaction limits.

Social media-like feeds of user thoughts and comments are present throughout the eToro platform. You’ll see a general feed immediately when you log in that broadly covers user thoughts on crypto, markets and investing. When you navigate to each coin or managed portfolio, though, you gain access to a unique feed that presents user posts related only to that specific offering. These comments may be helpful in sparking trading ideas for those new to the crypto world, but their quality is not assured.

However, as well as your personal allowance (£12,570 in the current tax year), you have an additional dividend allowance of £1,000 (in the current tax year). You will be required to pay Stamp Duty Reserve Tax (SDRT) when you buy UK shares, calculated at 0.5% of the value of the transaction. This is not usually charged on buying overseas shares, although other taxes may be charged. Investment trading apps have similar security protocols to desktop trading, such as password, PIN, biometric and other security requirements such as two-step verification.

With more than 25 million users from over 140 countries and more than 3000 financial instruments including stocks, commodities, crypto, indices, and ETFs, eToro continues to revolutionize online investing. It shows messages posted by several analysts and eToro users around the world. The dollar sign ($) is used for assets, while the hashtag (#) is used for themes. The truth is that eToro is not a fan of this feature, but it helps to add the best social features while trading. Just like other social trading brokers, the trading pair which attracts the highest fees are the USD and EUR pair. However, you tend to pay more when the volume of your trade is high.

It charges a 1% fee on both the entry and the exit in cryptocurrency trades, which can add up if you trade frequently. There is a minimum investment of $10 unless you want to try eToro with a virtual portfolio. Though $10 shouldn’t be an issue for potential clients, many competitors don’t require an initial investment. EToro does not charge a fee for withdrawing money, but there is a $30 minimum. Yes, you can make money with eToro, though doing so — as with any broker — is never guaranteed.

Identity verification can take a few days, and eToro notifies new users once verification is complete. We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Steven Hatzakis is the Global Director of Research for