eToro Review

Summary: eToro is a versatile global trading platform trusted by over 30 million users across 100+ countries. It offers a broad spectrum of assets, from cryptocurrencies to stocks and ETFs, at competitive fees. Its standout features include CopyTrader, which lets you mimic the actions of successful investors, and Smart Portfolios for thematic investing.

Additionally, eToro puts a strong emphasis on security, being regulated by multiple global financial authorities. With an engaging community and robust customer support, it’s a compelling option for both novice and institutional investors.

What is eToro?

eToro stands as a prominent trading platform utilized by over 30 million individuals across more than 100 countries. Its appeal lies in the extensive range of financial instruments it offers, including stocks, cryptocurrencies, and ETFs. This diversity caters to both novice and experienced investors. A standout feature of eToro is its CopyTrader™ system, which enables users to emulate the trading actions of successful investors. Additionally, the platform presents Smart Portfolios, designed to streamline thematic investment approaches.

Regarding regulation and security, eToro is overseen by multiple financial authorities, ensuring a high standard of compliance and trustworthiness. The platform prioritizes cybersecurity, implementing robust measures to safeguard user data and assets. eToro further enhances the trading experience by nurturing a vibrant community through its social news feed, where traders can exchange insights and strategies.

This combination of a broad spectrum of assets, innovative features, and an engaging community environment positions eToro as a comprehensive choice for individuals seeking to diversify and enrich their investment portfolio.

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eToro Key Features

The eToro exchange is a robust and feature-rich platform that offers multiple unique products and services. Below we have curated a list of eToro’s key features and products.

1. Multiple Asset Types: On eToro, users can buy and sell six asset classes including crypto, stocks, indices, commodities, fiat currencies and ETFs.
2. Cryptocurrency Staking: Stake Cardano, Tron or Ethereum on eToro for various yields depending on your membership level.
3. Copy Trader: eToro users can automatically mimic the trades of other successful investors. Through Copy Trader, users can see the investors risk score, fail/success ratio and more transparently.
4. Virtual Trading Platform: Practice trading multiple assets with paper money on eToro demo account feature, which allows you to trade up to $100K in virtual cash.
5. 0% Commission: There are zero fees to invest in stocks or ETFs on eToro (crypto assets incur a 1% fee).
6. Social Trading: The platform offers an in-built news feed where users can communicate with each other to discuss trades, insights and strategies.
7. Free Insurance: European, UK and Australian clients' funds are covered up to 1 million EUR/AUD/GBP per person.
8. Professional Account: eToro provides a ‘professional client’ feature which is only available to experienced traders and financial professionals that have more than $500,000 in their eToro account.

_{DISCLAIMER: Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [Insert Affiliate Name Here] is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.}

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Is eToro Safe?

Yes, eToro places a high priority on user safety and security. The platform employs strong encryption methods to safeguard all personal and financial data. For added security, users have the option to activate two-factor authentication, providing an extra layer of safety by requiring a unique code along with regular login details.

eToro is also fully regulated by multiple international financial authorities, including Cyprus' Securities Exchange Commission, the UK's Financial Conduct Authority, and the Financial Industry Regulatory Authority in the US. This ensures the platform adheres to strict operational guidelines for ethical and transparent business practices. Furthermore, eToro boasts over 15 years of operation without falling victim to any cyber attacks or hacking incidents, solidifying its reputation as a reliable and secure trading platform.

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Fees Schedule

When it comes to fees, eToro is fairly competitive compared to other leading trading platforms. The platform primarily charges spreads, overnight fees, withdrawal fees, and a fee for cryptocurrency trading. Notably, eToro does not charge for deposits or for trading stocks and ETFs.

Here's a quick breakdown of the fees you can expect:

• The spread, which is the gap between the buying and selling price of a trade, varies depending on the specific asset you're trading.
• Overnight fees apply when you keep a position open past the market's closing time; these fees differ for long and short positions.
• A flat $5 fee is charged for withdrawals.
• Cryptocurrency transactions are subject to a flat 1% fee.
• If your account remains inactive for over 12 months, you'll incur a $10 monthly inactivity fee.

These fee structures aim to keep trading costs predictable, making eToro an attractive option for those looking to manage their investment expenses.

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How to contact eToro customer support

eToro offers some of the most useful and responsive customer support out of any exchange globally. In fact, the team has achieved an incredible 4.3 stars from 17K reviews on TrustPilot. Customer support can be reached 24/5 via its Live Chat feature, email (support@etoro.com) and through its online ticketing system.

On top of that, eToro also has various online communities for its users to join including Twitter, Facebook, Instagram, YouTube, LinkedIn and TikTok. These are the only official social media platforms that eToro have, they are not currently on Reddit, Telegram or Discord.

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eToro Mobile App

The eToro mobile app brings the full functionality of its web platform to your fingertips, available for both iOS and Android devices. The app enjoys positive ratings, scoring 4.3 stars from 2,000 reviews on the Apple App Store and ranking #63 in the Finance category. Over on the Google Play Store, it has garnered a 4.1-star rating from a sizable 125,000 reviews.

Within the app, users can easily manage their portfolios, open and monitor positions, and even engage in social trading through the CopyTrader feature and in-app social media platform. It provides a seamless experience for traders and investors who want to manage their assets while on the move, making it a convenient extension of the web-based platform.

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What is eToro’s Copy Trader?

The Copy Trader feature allows users to automatically copy the trades of other successful traders on the eToro platform. This means that users can easily diversify their portfolios and benefit from the expertise of top-performing traders without having to actively manage their own trades. Users can filter potential "Copied Traders" by criteria such as overall performance, risk score, and trading experience. 

Additionally, users have the option to set a maximum amount they are willing to invest in each copied trader, as well as adjust or stop copying at any time. It’s a convenient way for investors to gain access to diverse strategies.

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Is eToro Available in my Country?

eToro is currently supported in over 140 countries globally. To see if you can use eToro in your country, visit the Restricted Jurisdictions list.

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Bottom Line

To wrap it up, eToro isn't just another trading platform; it's a financial community where both novice and experienced investors can thrive. With a cocktail of asset options from cryptocurrencies to stocks, coupled with user-centric features like CopyTrader, the platform offers a rich trading experience.

What sets it apart is its commitment to user safety, backed by stringent security protocols and international regulatory compliance. If you're scouting for a one-stop-shop for varied investing that also lets you learn from others, eToro is your go-to platform. However, it's essential to tread carefully, as all forms of trading come with their own sets of risks.

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_{Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.}

_{Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.}

_{Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.}

_{Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost. It is important to read and understand the risks of this investment, which are explained in detail at this link.}