eToro broker review – Experience, Fees and more 2020

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Contents

Trusted eToro withdrawal proof 2020

Table of Contents

On this website we will show you our real withdrawal proof of the CFD Broker eToro per bank wire. Also, you will get information about how to withdraw your money, are their fees, and how long is the duration of your money transactions. With more than 6 years of experience in trading, we know how to deposit withdrawal money with CFD Brokers. Get the right information about the conditions now.

Risk warning:

eToro is a multi-asset platform that offers equity and cryptocurrency investments as well as CFD asset trading.

CFDs are complex financial instruments. Because of the leverage effect, they carry a high risk of losing money quickly. 62% of private investor accounts lose money when trading CFDs with this provider.

Please be aware of the risks of CFD trading in advance, as high losses cannot be ruled out.

Withdrawal screenshot bank wire

You can read about many withdrawal complaints in online trading on the internet. There are some bad brokers and companies who try to cheat on customers. This is not the case with eToro. It is a fully regulated and licensed company from Europe.

In the picture below you see the withdrawal of 1.975 USD from one of our eToro accounts. The transfer was made through bank wire and was after 2 days’ duration on the bank account. For a successful withdrawal, there are some restrictions and conditions that have to fulfilled which we will show you in the next section.

eToro withdrawal proof

(62% of private investor accounts lose when trading CFDs)

Which payment methods are available for the withdrawal?

For the payout, you can use more than 9 payment methods. It is possible to use electronic methods and the classic method bank wire. Also, e-wallets are available for clients. The payment methods are regulated and safe.

Payment methods:

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  • China Union Pay
  • Credit /Debit card
  • Neteller
  • PayPall
  • Skrill Limited UK
  • WebMoney
  • Wire Transfer

How long does it take for the withdrawal

Withdrawals are not made instant. It takes up to 1 business day that the company accept and check the request. Methods like Credit / Debit card and wire transfer take a longer duration because it depends on your bank. By using the other methods the money should be credited in maximum 2 day in your account.

How to withdrawal from eToro?

The withdrawal on the eToro platform can be made quickly. Just click on the button “withdraw funds” you will get access to the menu. Please note that you can only withdrawal when your account is fully verified. eToro is a regulated broker which has to check the identity of its clients. That means you have to upload a passport and proof of your address.

You can not withdraw funds if your account is not verified. We recommend this first before you deposit any money on this platform.

How to withdrawal:

  • Click on the withdraw funds button in the left menu
  • Choose your withdrawal amount
  • Select your payment method
  • Start the withdrawal

eToro withdrawal fees are possible

The CFD Broker charges for any withdrawal 5$ fee. This is an overall fee for any withdrawal method and any withdrawal amount. Some CFD Brokers do not charge any fees for the withdrawal. So it is a little disadvantage of eToro.

You should only withdrawal when it is necessary in order to save up fees.

  • eToro withdrawal fees are 5$

Are there any limits?

The minimum withdrawal limit is 50$. You can not pay out less than 50$ from your account. For eToro it is too expensive to withdrawal small amounts because the fees of the payment methods are too high.

Compared to other CFD Brokers there are often such limits for the withdrawal. On the other hand, there is no limit for bigger amounts. You can withdraw any amount you want when it is more than 50$.

  • The minimum withdrawal limit is 50$

Conclusion: eToro is a safe broker for withdrawals

On this website, we showed you a withdrawal proof and the conditions for your payouts. eToro is clearly a serious and safe CFD Broker for your investments. The company is fully regulated and shows since 2007 its experience in trading.

Withdrawals are working good and there are no problems for payout the profit. In order to do your withdrawal, you should know about the conditions for traders. Also, we recommend verifying your account before you do any real money transactions.

Facts about the withdrawal:

  • More than 9 payment methods
  • Minimum withdrawal 50$ (limit)
  • Withdrawal fee 5$
  • You need a full verified account
  • Duration 1 – 3 days

If you are searching for a good and reliable broker then you should clearly choose eToro.

eToro Review: Online Broker for CFDs With Social Copy Trading

With hundreds, if not thousands of online brokers now allowing you to trade a full range of assets at a click of a button, knowing which platform to go with can be a difficult task. While some traders will seek to find the most user-friendly platform on the market, others prefer brokers with super-low fees.

With that being said, the likes of eToro have grown exponentially over the past few years. With the online broker now claiming to service over 10 million users from all over the world, we sought to explore just what all the fuss is all about.

As such, if you’re thinking about using eToro for your online trading needs, be sure to read our comprehensive guide.

We’ve covered everything that you need to know – such as how the platform works, what assets it allows you trade, fees, regulation, and more.

Let’s start by finding out what eToro actually is.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

What is eToro?

eToro is an online broker that allows you to buy, sell and trade thousands of financial instruments. Launched in 2020 and now headquartered in Cyprus, the platform initially focused exclusively on CFDs (contracts for difference).

However, the platform has since expanded into other areas of the online brokerage space – subsequently allowing users to actually own the assets they invest in.

At the time of writing, this includes traditional stock market equities and cryptocurrencies. In terms of its CFD offering, this includes everything from forex, stock market indices, ETFs, commodities, and more.

One of the overarching benefits of using a platform like eToro is that the broker is suitable for newbie traders. As such – irrespective of your experience, buying and selling assets via the eToro website is as simple as it gets. Furthermore – and perhaps most importantly, eToro was one of the first pioneers of the social trading phenomenon.

Not only does this allow everyday investors to share, discuss and debate portfolio strategies – but via the Copy Trading feature, inexperienced traders can copy the trades of other investors like-for-like. It is this, alongside the vast number of financial instruments available at the platform, that has made eToro one of the fastest-growing online stock brokers in recent years.

In terms of its regulatory status – eToro is authorized by three key financial bodies. In its home jurisdiction of Cyprus, this includes the Cyprus Securities and Exchange Commission (CySEC). However, the more stringent authorization of the UK’s Financial Conduct Authority and the Australian Securities and Investments Commission (ASIC) are potentially more notable.

Finally, it is also important to mention that – fully in-line with the platform’s target market of newbie traders, eToro supports a huge number of everyday payment methods. While this includes traditional debit/credit cards and bank account transfers, the platform also hosts e-wallets such as PayPal and Skrill.

So now that you have an idea as to what eToro is, in the next part of our review we are going to further explore the types of financial instruments that you can invest in.

What Assets can you buy and Sell at Etoro?

First and foremost – and as we briefly discussed earlier, eToro was originally focused on CFDs, and CFDs only. As a result, there is still a misconception in the public domain that irrespective of the financial instrument you are investing in, you do not actually own the asset. This couldn’t be further from the truth, at least with respect to stocks and cryptocurrencies.

Let’s break this down in more detail.

Stocks and Shares

In a nutshell, when you purchase traditional stocks and shares via eToro, you maintain full ownership of the assets – much in the same way as you would with any other conventional stock broker operating in the space. As such, by purchasing stocks and shares at eToro, you will be accustomed to dividend payments, if applicable.

This is a very important differentiator, not least because previously, you could only invest in stocks and shares that were represented by CFDs. Although we will discuss the CFD department at eToro in more detail further down, this meant that you could only speculate on the movement of equities, as opposed to actually owning them.

However, it is important to mention a couple of fundamental conditions for the above to remain constant.

  1. To own the underlying stock, you must ‘Go Long’, as opposed to ‘Going Short’. This means that you purchase stocks in the traditional way, rather than speculating that the value of the stock will go down. If you do want to go short, you will be investing in a CFD.
  2. To own the underlying stock, you must not apply leverage. If you do want to utilize leverage within your stock trades, then you will be investing in CFDs.

In terms of the types of stocks and shares that you can invest in, eToro lists thousands of individual equities listed on multiple stock market exchanges. This includes popular markets such as the NASDAQ and NYSE in the US, the London Stock Exchange, and the Tokyo Stock Exchange. The platform also has a presence in less popular stock markets, such as those based in Spain and Sweden.

Cryptocurrencies

The reason that we have decided to discuss cryptocurrencies before other, more traditional asset classes, is that digital currencies are the only other financial instrument that you can own outright at eToro.

Take note, although you technically own the underlying cryptocurrency – as opposed to simply holding a CFD, you won’t be able to withdraw your coins to an external wallet.

If you wish to withdraw cryptos to your own wallet you will need to use a full exchange such as :

However, we would argue that the regulatory safeguards that come with an eToro account are potentially more secure than utilizing a private wallet – especially if you are a beginner.

Nevertheless, much like in the case of stocks and shares, you will only own the underlying digital currency if you [A] go long, as opposed to short and [B] do not apply any leverage. Once again, if you don’t meet the above requirements, you will instead be investing in CFDs.

In terms of what cryptocurrencies you can buy and sell at eToro, this covers 16 crypto-to-dollar pairs such as BTC/USD, ETH/USD and BTC/USD. You can also trade cryptocurrencies against a number of other base fiat currencies, such as EUR, GBP, and JPY.

For those of you that want to trade crypto-cross pairs, eToro also has you covered. This includes the likes of ETH/EOS, BTC/EOS, and BTC/ETH.

Forex

One of the most widely used segments of the eToro platform is that of its forex department. In fact, the platform hosts dozens of tradable currency pairs across the major, minor, and exotic threshold.

While all major and minor pairs are covered, eToro offers a comprehensive number of less popular cross-pairs. This includes the likes of CFD/HUF, EUR/PLN, USD/MXN, and ZAR/JPY.

Indices

If you’re looking to mitigate your risk by investing in the wider stock markets, then you’ll be pleased to know that eToro lists 13 individual indices. The most popular markets listed include the NASDAQ 100, S&P 500, FTSE 100, and China 50.

eToro also covers stock market indices from Hong Kong, Japan, Spain, France, and Germany.

At the time of writing, eToro lists 145 ETFs from a range of different sectors. This includes ETFs facilitated by well-known institutions such as iShares and Vanguard.

Commodities

Finally, if you’re looking for exposure to the highly volatile world of commodities, you have six assets to choose from. This includes oil, gold, silver, copper, natural gas, and platinum.

eToro Fees

So now that we’ve discussed the ins and outs of what you can trade at eToro, we now need to explore how much it costs to trade. First and foremost, it is important to note that eToro does not charge any commissions or trading fees. However, this doesn’t mean that you will be trading for free. On the contrary, you will pay your fees in the form of the spread.

For those unaware, the spread is the difference between the;

Bid Price: the highest price that buyers are willing to pay for a financial instrument

Sell Price: the lowest price that sellers are willing to sell a financial instrument.

Without intending to digress, it is super important for you to understand how the spread works, not least because this will have a major impact on the fees you pay at eToro.

To assist, we’ve listed a quick example below.

  1. Let’s say that you are looking to invest in Apple stocks.
  2. Upon accessing the market on eToro, you see that the bid price is $200, and the ask price is $210.
  3. As such, we then need to divide the bid price into the ask price, which gives us just over 0.95.
  4. We then subtract the above calculation from 1, which leaves us 0.05.
  5. In percentage terms, this means that the spread is 5%.

As noted above, this is how your eToro fees will work. If, for example, the spread was in fact 5%, this means that the market would need to go in your favor by 5% just to break even. The key problem with this is that eToro does not make the spread fees clear. Instead, you would need to repeat the above calculation to assess how much you are paying.

Nevertheless, to give you a rough idea, major crypto-to-dollar pairs come with an average spread of approximately 1.5%, while crypto-crosses can be as high as 5%. Stocks and ETFs are much lower, rarely surpassing 0.5%. However, less common marketplaces such as those in Spain and France will come with a much higher spread.

Leverage and Overnight Fees

If you are looking to apply leverage to your eToro trades, the amount that you are able to get will depend on the type of financial asset you are trading, as well as your specific location. For example, traders based within the European Union will often be capped to just 1:2 on cryptocurrencies, and 1:5 on traditional blue-chip stocks.

Nevertheless, if you do apply leverage, you will, of course, need to pay an overnight financing fee. Although this varies quite considerably based on the specific financial instrument you want to trade, what we do like is that eToro is very transparent on its overnight financing charges.

When you set-up your trading parametres to include leverage, eToro will give you a breakdown of how much you will pay per day. This includes one rate for Monday-to-Friday, and another rate for holding open trades over the weekend.

So now that we’ve covered the main trading fee structure, in the next section we are going to cover deposits and withdrawals.

Deposits and Withdrawals at eToro

If you’re looking for a broad range of deposit and withdrawal options, eToro has you covered. In terms of funding your account, eToro accepts traditional debit/credit cards, bank wires, PayPal, Skrill, WebMoney, and more. All deposits and free, which is great. Moreover, unless you are performing a conventional bank transfer, most other deposit types are credited instantly.

When it comes to withdrawals, eToro will only consider withdrawals of $50 or more. Regardless of the type of payment method that you opt for, withdrawals come with a $25 fee. In the vast majority of cases, the payments team at eToro will process withdrawal requests within 3 working days. Once they do, the amount of time it will take for you to receive your funds will depend on your chosen payment method.

Social and Copy Trading

We really like the social trading feature that is available at eToro. In a nutshell, the platform has a somewhat ‘Social Media’ feel to it, insofar that investors can communicate with one another in a public setting. For example, if the price of Gold suddenly dropped by 2%, users can share their insights as to why this happened, and where the market is destined to head next.

Moreover, social trading also allows you to view the results of other traders. Not only does this display each and every trade that the investor in question has made, but you can also view the investor’s portfolio. Take note, if you don’t feel comfortable allowing other users to view your statistics or portfolio, you can switch this off at any time.

On top of social trading, eToro is also well-known for its copy trading feature. As we noted earlier, this allows you to copy the exact portfolio of your chosen investor(s), like-for-like. The copy feature places trades for you automatically, proportionate to how much you want to stake.

For example, if the trader you are copying has a $30,000 portfolio, but you only want to invest $3,000 – then the size of each asset within the portfolio will be split accordingly.

Opening an Account at eToro

A further benefit to choosing eToro over traditional, more established online brokers, is that the account registration process is super easy. If you have all of the required information to hand, you could get the account opened within less than 15 minutes.

In order to get started, you will need to head over to the official eToro homepage and click on the ‘JOIN NOW’ button. This will require you to enter some personal information, such as your full name, home address, telephone number, date of birth, and email address.

As is industry standard in the online brokerage space, you will also need to provide some information on your current financial standing, your experience of trading, and your attitude to risk. These questions are designed to ensure that eToro remains fully compliant with its licensing bodies, and that you understand the risks associated with trading – especially if you’re looking to invest in CFDs.

Here’s a breakdown of some of the main questions that you will need to answer in order to satisfy eToro.

  • How much experience you have in trading
  • Your knowledge in trading
  • What investments you plan to make
  • Your overall purpose of using eToro to trade
  • What your tolerance to risk is
  • What your current financial standing is like
  • Details about your net worth

Once again, although the above questions might appear intrusive, this is standard in the online broker arena.

Once you have completed the main account registration process, you will then need to go through a somewhat basic KYC (know your customer) program. This is to ensure that the platform meets its anti-money laundering and terrorist financing obligations.

Firstly, you will need to upload a copy of your government-issued ID. This will either need to be a passport, driver’s license, or national ID card. You will also need to upload a recent proof of address, such as a utility bill or bank statement.

Once you complete the speedy KYC process, you’re good to start trading.

Regulation and Security

One of the most important factors to consider when joining a new brokerage platform is its regulatory status. As we mentioned above, eToro is currently regulated on three main fronts. This includes;

  • Australian Securities and Investments Commission (ASIC)
  • UK Financial Conduct Authority (FCA)
  • Cyprus Securities and Exchange Commission (CySEC)

eToro complies with all respect jurisdictional laws, especially with regards to anti-money laundering and data protection. Furthermore, all client funds are held in segregated bank accounts with tier-one financial institutions.

In terms of account security, this is a bit thin on the ground from the perspective of the account holder. Although two-factor authentication is an option, nothing else really stands out. However, eToro does employ a fully-fledged, in-house security team to ensure that your account remains safe at all times.

What Languages Does eToro Support?

As a platform that operates in more than 140 jurisdictions, eToro is now available in 14 different languages. This includes;

  • Arabic
  • Chinese
  • Dutch
  • English
  • French
  • German
  • Italian
  • Polish
  • Portuguese
  • Russian
  • Spanish
  • Swedish
  • Norwegian
  • Malay

Customer Service and Public Reviews

If you need to contact somebody from the eToro customer support team, your best bet is to use the live chat facility. This is operational on a 24/5 basis – meaning if you need help over the weekend hours, you’re out of luck.

This is quite a poor offering from a platform that claims to serve more than 10 million customers. Although it is true that the traditional financial markets only operate during the week, the likes of forex and cryptocurrencies trade 24/7.

Moreover, unless you are based in Australia, you won’t have access to a dedicated telephone support line.

In terms of its reputation in the public domain, this is largely positive. However, the platform does have a rather lousy TurstPilot rating of just 2.5/5. When we explored the negative TrustPilot rating in more detail, this mainly centred on the overly basic nature of the trading arena, alongside above-average fees.

eToro Mobile Application

If you’re somebody that likes the option of trading on the move, you’ll be pleased to know that a native eToro mobile application is available on both iOS and Android devices. Anything outside of these two operating systems will require you to use the standard mobile web browser version of the platform.

Nevertheless, the mobile application is just as user-friendly as the main desktop site, and you can perform the vast majority of account functions. This, of course, includes trading, as well as deposits and withdrawals.

The eToro app on Google Play has a very impressive user rating of 4.2/5, which is across almost 24,000 individual reviews. Over at the Apple Store, this is a more impressive 4.7/5, although this only covers 35 reviews.

eToro Review: The Bottom Line?

In summary, it’s clear to see why eToro is now only of the fastest growing brokers in the online trading space. Not only is the platform super easy to use, but it hosts thousands of tradable instruments. While much of the assets hosted are in the form of CFDs, you can own both blue-chip stocks and cryptocurrencies outright.

In terms of supported payment methods, this is also a plus-point, as eToro allows you to deposit funds with a debit/credit card, bank account, e-wallet, and more. The fact that the platform also holds licenses with three regulatory bodies adds further weight to the broker’s dedication to protecting customer funds.

On the other hand, it must also be noted that trading at eToro is not cheap. While it is true that you will not pay any commissions or fees per-say, the platform more than makes up for this with its above-average spreads. However, this is the price that you will have to pay if you want to benefit from the many benefits that eToro offers.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

eToro Review

EToro

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 491139ACN 612 791 803

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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).

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.

Pros Cons
•Great Social trading environment

•Free Stock and ETF trading options

•Competitive trading in the EU

•High Forex fees

•USD is the only one account base currency

•Withdraw money or withdrawal fee is 5$

10 Points Summary

1. A European broker with headquarters in Cyprus and offices in UK, Australia

2. Considered a safe broker due to its regulatory obligation set by ESMA, ASIC, FCA, etc.

3. Is one of the biggest Social Trading providers with great algorithms and selection between portfolios, particular traders and investments

4. A great amount of assets to trade including Stocks, CFDs, Forex, Commodities, Portfolios, Metals, Cryptocurrencies

5. Demo Account offered with unlimited basis conditions along with Education materials and webinars

6. Trading costs and spreads are rather high compared to competition for Forex, while Stocks and CFDs traded with no commission charges

7. Charge additional fees like withdrawal fee and inactivity fee

8. Minimum deposit – 200$ for Europeans, yet deposit may vary according to your residence

9. Base currencies as standard is USD, with deposit option including Credit Card, e-wallets, Bank Wire

10. Trading platform is proprietary web-based software with very customer-friendly layouts

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.

Awards

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.

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 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.

Pros Cons
•Authorized by leading authorities worldwide

•Regulated live trading account

•Fully audited Financial service

•There is no financial information available for public

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.

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

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.

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.

Pros Cons
•Fast and fully digital account opening

•Single Account with VIP club option

•Easy switch between Demo and Live Account

•Min deposit for some regions is relatively high

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.

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.

Pros Cons
•Free Stock or 0$ Stock trading

•Competitive trading conditions in Europe

•High Forex fees

•Additional withdrawal fees

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.

Forex, 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

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/ Pair eToro Fees Plus500 Fees AvaTrade Fees
EURUSD 3 pips 0.6 pips 1.3 pips
Crude Oil WTI 5 pips 2 pips 3 pips
Gold 45 29 40
BTC/USD 0.75% 0.35% 0.75%
Fee ranking High Low Average

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.

Deposit

Pros Cons
•Fast digital deposits, including Neteller

•Withdrawal requests take up to 3 days

•Withdraw money fee – 5$

•USD is the only one base currency

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

Withdrawal

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.

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 withdraw 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 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 2020 & 2020 | eToro innovative platform has received multiple awards and vast recognition as a leader in the Financial Technology industry.
•Great proprietary Social trading platform

•Customer and User friendly

•Different platforms Web, Mobile available

•Web and Mobile App for iOS and Android

•Clean and simple to use

•Comprehensive search between portfolios

•Simple and quick to navigate

•Available languages: Polish, Dutch, English, Thai, Arabic, Portuguese

•No MetaTrader4 offered

•Limited range of tools and analysis

•Only Web Version of the platform

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.

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 a 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.

Charting

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.

Portfolio

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

Pros Cons
• Customer-friendly layout

• Supporting Android and iOS

• Standard login without Face ID option

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.

CopyTrader

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.

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.

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.

Pros Cons
• Quick response and relevant answers

• Availability of Live Chat

• No 24/7 customer support

Education

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.

Pros Cons
• Demo Account available for practice

• Educational videos

• Education videos are rather very basic

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.

Research

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.

Pros Cons
• Numerous trading ideas

• Analyst trading recommendation

• Webinars with professional traders held regularly

• News rather a basic level

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

Conclusion

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.

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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Global investment platform eToro has secured partnerships with seven different Premier League soccer clubs. These deals are especially unique because they were paid using the world’s leading cryptocurrency, bitcoin. The deal could be worth somewhere between £4 and £5 million. The seven Premier League clubs who have agreed to set up a digital wallet with.

Social trading and multi-asset brokerage company eToro has added ZCash (ZEC), the privacy-focused cryptocurrency, to its list of cryptocurrency offerings. This brings the total number of crypto assets available on eToro to 14, including Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano, IOTA, and BNB.Zcash is a cryptocurrency aimed at.

eToro, the global multi-asset investment platform, has announced its latest sponsorship deal, signing on as a partner with Moto2 team, American Racing KTM. eToro will become an Official Sponsor to the team and its two promising young riders, Iker Lecuona and Joe Roberts for the rest of the 2020 season. Moto2 is part of the.

iFX EXPO Asia 2020 tool place in Hong Kong and lasted for three days 22-24th of January in Convention & Exhibition Center (HKCEC). iFX EXPO Asia 2020 catered to all elements of the forex industry, as well as banks, affiliates, introducing brokers, and white label partners. The iFX EXPO Asia is an international financial expo.

eToro as one of the largest and some of the most popular social trading brokers that deliver thousands of opportunities to invest, trade, copy or be copied expand its capabilities even further. Recently, social platform eToro announced its acquisition of Delta App that allows to monitor and track thousands of Crypto markets through its dynamic.

The global multi-asset trading platform eToro has signed a new partnership with the Ultimate Fighting Championship (UFC), the world’s premier mixed martial arts organization. According to a six-month agreement that starts with the UFC 243 event and will take place in Australia and New Zealand, eToro will perform the duties of the official online trading.

So we start with great news from one of the largest and very popular social trading broker eToro that delivers thousands of opportunities to invest, trade, copy or to be copied. While eToro itself is a well-regulated, widely known and one of the biggest social trading communities, there were some cons on its offering. One.

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