eTORO REVIEW

The finance world is overcrowded by brokers that offer specific assets like stocks and others that offer multi-asset trading. With so many options to choose from when deciding where to invest your money and trust your funds, it is important to find a broker that delivers on all the criteria you are looking for. If multi-asset broker is more your speed and preference then you can stop searching once you discover eToro. This multi-asset and social trading brokerage company is a one-stop-shop for the majority of your investment needs.

etoro

eToro Difference

eToro the company was originally founded in early 2007. Based in Israel, this brokerage gathered millions of clients from across the globe, in 170 countries to be exact. At its humble beginnings, eToro was a forex broker with a graphics-heavy focus. These days, eToro is known for offering stocks, Forex, ETF, Crypto and CFD products.

One of the standout offerings of eToro is social trading or otherwise known as copy trading. This method of investing lets you benefit from the trades made by more experienced investors. With copy trading you can automatically copy the positions opened and managed by other individuals in the platform. This lets newcomers, with little to none information about the markets possibly take the same positions as the experienced traders.

eToro Features

Let’s get to the information you actually care about. eToro offers a variety of features to traders who choose them as their broker. Below are the highlights of eToro package:

  • Base Currency: eToro offers 1 base currency the USD or $
  • Account Types: 2 official account types Demo and Standard. The demo account lets you practice and hone your investing skills with $100,000 of virtual currency. A standard account is opened by a minimum deposit of $200. This account has no bonuses or promotions but does offer an active trader bonus through the Popular Investor Program.
  • Trading Platform: eToro provides users with only 1 platform titled OpenBook. This platform was the first one to offer social trading and is renowned as one of the simplest platforms to use for trading. The current version of OpenBook is titled eToro CopyTrader.
  • Banking Options: After setting up your account you need to be able to fund it using one of the methods below. Options with a star next to them can also be used for withdrawing your money from your account. You will be charged a $5 withdrawal fee if you are a non-US customer.
      • PayPal*
      • Wire Transfers*
      • Credit and Debit Cards*
      • EWallets (Neteller, Giropay, Skrill Limited, WebMoney, Wirecard, Yandex, and China Union Pay)
  • Spreads and Commissions: eToro calculates their annual fees and commissions into their spreads. Since the company provides copy trading, which gives you other people’s betting information and other technical information, they offer much higher than their competitors.
    • US Customers trading cryptocurrencies pay around 0.75-5.0% in fees per transaction.
  • Leverages: eToro determines the leverages offered by the assets traded. Each asset comes with a specific leverage minimum and maximum. The leverage offerings of eToro range from 2:1 to 400:1.
  • Regulations: eToro is based in Cyprus. They are regulated by multiple regulatory bodies:
    • Cyprus Securities Exchange Commission (CySEC)
    • eToro UK – Financial Conduct Authority (FCA)
    • Market financial Instruments Directive (MiFID)
    • eToro Australia – Australian Securities and Investment Commission (ASIC)

eToro is one of the pioneers of copy trading and have built a name for themselves by creating a brand-new way of investing. They believe that through access to the collective database trading can be for everyone, rather than the experienced or trade educated. When you use eToro you can be sure that your money is in the right hands.