Our eToro review will examine the benefits and costs of trading and investing with this online broker. Known for its social trading features, such as copy trading, eToro is a widely used multi-asset investment platform offering more than 7,000 financial instruments.
You can find stocks, futures, options, forex, cryptocurrencies, commodities, ETFs, and CFDs (in available regions).
For clients based in the United States, the United Kingdom, Australia, and many other countries, the minimum deposit to trade with eToro is just $50.
Your capital is at risk.
Introducing eToro
Boasting about 40 million registered users across 75 countries and more than 3.5 million funded accounts, eToro is a popular hub for new and seasoned investors seeking a social trading experience.
The broker specializes in social trading and offers direct share and ETF trading. It was founded as RetailFX in 2007 by two brothers, Yoni and Ronen Assia, and entrepreneur David Ring, and later rebranded as eToro.
Its core offerings, CopyTrader and Smart Portfolios, are central to its social trading focus, so we list it among the best copy trading platforms.
eToro has also actively expanded into cryptocurrencies, launching a wallet in 2018 and acquiring blockchain firm Firm and crypto portfolio tracker Delta over the past few years. The broker’s stock is traded on the Nasdaq (ETOR).
eToro lowers the entry barrier for many younger investors by allowing them to purchase fractional shares of ETFs and stocks with just $10. Furthermore, eToro gives traders an edge through its AI-powered data analysis, incorporating unconventional sources to inform their decisions.
Is eToro safe?
eToro is regulated by the Financial Conduct Authority (FCA) in the UK and Europe by the Cyprus Securities Exchange Commission (CySEC), as well as the Australian Securities & Investments Commission (ASIC) in Australia, the Financial Services Authority Seychelles (FSAS) in Seychelles, and the Financial Crimes Enforcement Network (FINCEN) in the US.
The platform stores clients’ funds in top-tier banks, and all personal information is guarded under SSL encryption. Clients can also choose to use Two-Factor Authentication (2FA) in their accounts, providing an extra layer of security.
Pros and cons
Pros
- Plenty of options to invest, including more than 6,000 stocks and 700 ETFs
- Advanced copy trading options with a wide social investing component.
- Free demo account with no time limit to use $100,000 in virtual currency
Cons
- High fees on some forex trades
- $10 monthly inactivity fee for accounts that have been inactive for a year
Your capital is at risk.
eToro jurisdictions
The broker has multiple entities for different regions. Each entity may offer different trading terms, and some assets may be restricted (region-dependent).
- eToro (Europe) Ltd
- eToro (UK) Ltd
- eToro AUS Capital Limited
- eToro (Seychelles) Ltd
- eToro (Middle East, ME) Limited
eToro does not accept any clients from Canada.
Customers can request to transfer to eToro Seychelles, which offers higher leverage in FX and CFDs.
However, the following regions cannot transfer to eToro (Seychelles) Ltd: Australia, Europe, Hong Kong, Israel, Singapore, Switzerland, the United Kingdom, and the United States of America due to the regulations.
Approval to transfer to eToro (Seychelles) Ltd depends on meeting specific criteria and is handled on a case-by-case basis.
eToro fees and asset classes
One of the most significant advantages is the number of financial instruments available to trade, including forex, cryptocurrencies, stocks, ETFs, indices, and commodities.
Forex
The platform offers CFD trading in 56 foreign exchange (forex) pairs, allowing leverage of up to 30:1 on the major currency pairs. eToro Seychelles clients can receive up to 400:1 leverage on the majors and up to 50:1 on the non-major currency pairs.
The minimum deposit to begin trading forex at eToro is $50 in most countries. Copy trading is
The smallest trade size for forex is a micro lot, one-hundredth of a standard lot, or 1,000 currency units.
Forex spreads on eToro
| Currency pair | Minimum trade size | Spread (pips) |
| EUR/USD | 0.01 lot or 1,000 units | 1 pip |
| GBP/USD | 0.01 lot or 1,000 units | 2 pips |
| USD/JPY | 0.01 lot or 1,000 units | 1 pip |
| EUR/JPY | 0.01 lot or 1,000 units | 2 pips |
Forex trading leverage on eToro
| FX pairs | Europe, Australia, the UK, and the Middle East | eToro Sychelles | USA |
| Major currency pairs | 30:1 | Higher leverage | FX trading is unavailable |
| Non-major currency pairs | 20:1 | Higher leverage | FX trading is unavailable |
Your capital is at risk.
Crypto trading on eToro
eToro offers direct trading and CFD crypto trading on 130 cryptocurrencies, with leverage of up to 2:1 on CFD crypto trades. It also frequently adds new crypto assets, most recently adding 29 new tokens to its offering.
Out of the latest additions, 17 fall under the category of ‘experimental’ crypto assets, which include meme coins, initial coin offerings, token sales, innovative products, and decentralized finance (DeFi) strategies.
Cryptocurrency trading fees on eToro
The platform charges a 1% fee on buying or selling actual crypto assets and crypto CFDs. Short selling and leveraged crypto positions are always executed as CFDs, and so may be some buy orders for regulatory reasons.
| Crypto type | Minimum trade size | Fee / mark-up |
| Direct crypto trading | $10 | 1% from the bid/ask |
Cryptocurrency CFDs
| Crypto CFDs | Europe, Australia, and the Middle East | UK and US | eToro Seychelles |
| Minimum trade size | $10 | CFDs are unavailable | $10 |
| Fee | 1% from the bid/ask | CFDs are unavailable | 1% from the bid/ask |
| Leverage | 2:1 | CFDs are unavailable | Maximum standard leverage: 2:1 Maximum advanced leverage: 5:1 |
Your capital is at risk.
For an additional 2%, you can transfer your crypto to an eToro wallet, allowing you more control over your crypto purchases.
Currently, only Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) are available to buy in the US following a settlement with the SEC in 2024. These are real crypto assets.
For UK and US clients, crypto CFDs are banned.
You can also transfer many other cryptocurrencies you hold to the eToro Money crypto wallet.
Stocks
eToro allows direct investing in shares on more than 6,200 stocks on more than 20 global exchanges, including purchasing fractional shares. The minimum trade size for stocks is $10.
UK and US clients on eToro enjoy zero commissions on buying stocks across all stock exchanges.
The platform also allows CFD trading on stocks. All short and leveraged positions on stocks are executed as CFDs.
Trades on real stocks in most countries, including Australia, Denmark, Finland, the Netherlands, Norway, Spain, and Sweden, incur a commission fee of $1-$2 per trade. In the US and UK, direct stock trades are commission-free.
Stock trading fees
| Country | Australia, Hong Kong, Dubai, and Abu Dhabi stock exchanges | All other exchanges | Minium trade size |
| United States and United Kingdom | commission-free | commission-free | USD 10 |
| Australia | USD 2.00 | USD 2.00 | USD 10 |
| New Zealand | USD 2.00 | USD 2.00 | USD 10 |
| Remaining countries (EU, ME, Africa, etc.) | USD 2.00 | USD 1.00 | USD 10 |
eToro collects stamp duty on UK-listed stocks (0.50%). It’s a regulatory transaction tax on the electronic purchases of all UK-listed stocks, required by the UK Government.
Share CFDs fees and leverage
| Share CFDs | Europe, Australia,and the Middle East | UK and US | eToro Seychelles |
| Fees | 0.15% | CFDs are unavailable | 0.15% |
| Leverage | 5:1 | CFDs are unavailable | Maximum standard leverage: 5:1 Maximum advanced leverage: 10:1 |
Your capital is at risk.
ETFs
The platform offers more than 700 commission-free ETFs to trade, including index ETFs that track benchmark indexes, dividend ETFs with stocks with a history of paying dividends, and thematic ETFs focused on specific sectors or trends.
ETFs are offered as CFDs for available regions and direct investing.
ETFs trading fees
| Asset | Fees |
| ETFs | ETFs are commission-free. No overnight or custody fees are incurred. The spread is derived from the market with no mark-ups. |
ETF CFDs fees and leverage
| ETF CFDs | Europe, Australia,and the Middle East | UK and US | eToro Seychelles |
| Fees | 0.15% | CFDs are unavailable | 0.15% |
| Leverage | 5:1 | CFDs are unavailable | Maximum standard leverage: 5:1 Maximum advanced leverage: 10:1 |
Indices CFDs
eToro offers CFD trading on 24 indices, from the US Dollar Index to the Crypto 10 Index. It allows leverage of up to 20:1, and its fees are based on the spread.
Indices CFDs spreads
| Instrument | Spread |
| SPX500 (S&P 500) | 0.015% |
| FRA40 (CAC 40) | 1 point |
| USDOLLAR (US Dollar Index) | 0.04 points |
Indices CFDs leverage
| Indices CFDs leverage | Europe, Australia, and th Middle East | Europe, Australia, and the Middle East | eToro Seychelles |
| Major indices | 20:1 | CFDs are unavailable | Maximum standard leverage: 20:1 Maximum advanced leverage: 100:1 |
| Non-major indices | 10:1 | CFDs are unavailable | Maximum standard and advanced leverage: 10:1 |
Your capital is at risk.
Commodities CFDs
The broker provides CFD trading on 45 commodities, from crude oil to oats. On eToro, commodities are traded as CFDs, so the underlying asset is not delivered.
The platform doesn’t charge a commission on commodities but does charge a spread. The minimum trade size is 1,000 units or 0.01 lot.
Popular commodity CFDs spreads
| Instrument | Spread |
| Gold (no expiration) | 0.025% |
| Silver (no expiration) | 5 pips |
| WTI crude oil (no expiration) | 5 pips |
| Natural Gas (no expiration) | 0.25% |
| Sugar (expiring future CFD) | 5 pips |
| Cotton (expiring future CFD) | 20 pips |
Commodity CFDs leverage
| Indices CFDs leverage | Europe, Australia, and the Middle East | UK and US | eToro Seychelles |
| Gold | 20:1 | CFDs are unavailable | Maximum standard leverage: 20:1 Maximum advanced leverage: 100:1 |
| Remaining commodities | 10:1 | CFDs are unavailable | Maximum standard leverage: 10:1 Maximum advanced leverage: 100:1 |
Your capital is at risk.
Futures
It’s possible to trade CFD futures on eToro, covering a range of markets from commodities to indices. There is no risk of delivering or receiving the underlying asset on the settlement date, as all futures and CFD futures traded on eToro involve cash settlement (no physical delivery).
eToro also offers actual futures to new clients in Spain in commodity futures and index futures. It beta-tests its offer of actual futures and may expand to new regions later.
It offers 10 standardized future contracts that trade on official exchanges, such as the Chicago Mercantile Exchange (CME.) Exchange-traded futures contracts carry a flat fee of $3 for index futures and $5 for commodity futures per position.
Futures CFDs and actual Futures contract fees
| Futures CFD instruments | Spread | Leverage |
| Copper.Fut (Copper expiring futures) | 4 pips | 10:1 (In eToro Seychelles, advanced leverage is up to 100:1) |
| Soybean.Fut | 220 pips | 10:1 (In eToro Seychelles, advanced leverage is up to 100:1) |
| Palladium.Fut | 40,000 pips | 10:1 (In eToro Seychelles, advanced leverage is up to 100:1) |
| Real exchange-traded Futures | Commission | |
| Micro E-mini Nasdaq 100 Futures | $3 | – |
| 1-Ounce Gold Futures | $5 | – |
| Micro E-mini S&P 500 Futures | $3 | – |
Options
eToro offers options trading exclusively to its US customers through the eToro Options app. The options are available on stocks and ETFs without commission. Nominal SEC and FINRA regulatory fees apply to certain options transactions.
Traders can view other people’s positions via a social feed on the platform. eToro pays 3.9% interest on uninvested funds through the app.
eToro Options offers a limited version of level 2 calls, puts, and level 3 debit spreads.
Clients with an eToro Options account can earn interest on cash held in the account. To participate in the program, it must be selected in eToro, with Apex Clearing Corporation acting as the clearing broker-dealer. Interest can only be earned in certain US jurisdictions.
Options regulatory fees
| Fee type | Fee amount |
| SEC Fee | $8.00 per $1,000,000 of principal traded on eToro Options sells only. Rounded up to the nearest penny |
| FINRA Trading Activity Fee | $0.00279 per contract for each sale of an option. Rounded to the nearest penny. |
| Options Regulatory Fee (ORF Fee) | $0.02945 per contract (cumulative production rate). |
| Options Clearing Corporation Fee | $0.02 per contract. |
Approval to transfer to eToro (Seychelles) Ltd depends on meeting specific criteria and is handled on a case-by-case basis.
eToro non-trading Fees
Other fees include a $5 USD withdrawal fee on all withdrawals and an inactivity fee of $10 per month on accounts that have been inactive for 12 months or more. There are also fees for transferring crypto and using the eToro Money crypto wallet.
| Minimum deposit | Varies by location. It’s $50 in most countries, including in the US and the UK. |
| Withdrawal fees | $5 |
| Inactivity fee | $10 per month on accounts that have been inactive for 12 or more months. |
| Administration fee | None. |
Crypto staking and stock lending on eToro
Crypto staking
Staking is a process that allows you to receive monthly rewards on the crypto assets you hold. It’s supported by eToro’s staking services in your region. The process is similar to earning interest on your investments. The staking rewards increase to between 55% to 90% for members of the eToro Club tiered loyalty program.
The broker supports staking in Solana (SOL), Ethereum (ETH), Cardano (ADA), Tron (TRX), Near Protocol (NEAR), Polygon (POL), Polkadot (DOT), and Cosmos (ATOM).
The scope of coins available for the service varies by region.
Staking is unavailable for users in Germany, the US, and the UK who registered with eToro on or after February 8, 2022.
Stock lending
You can also earn additional income from your stock holdings if you opt for the stock lending program.
You can calculate the stock lending revenue using the following formula:
Daily gross revenue = asset closing price × number of units × (lending fee rate % / 360)
The service is available in Europe and to a limited number of customers in the UK. While you earn a fee for lending out your shares, eToro charges a 15% facilitation fee and retains 50% of what you earn.
Your capital is at risk.
eToro’s trading platforms and features
The interface is intuitive, making it accessible for both beginners and experienced traders. Key features include interactive charts, a wide range of technical analysis tools, one-click trading, and integrated news and analysis.
The platform’s strength lies in its social trading capabilities, allowing users to follow and copy the trades of other successful traders, fostering a collaborative trading environment. Furthermore, eToro’s platform is tightly integrated with its regulatory framework and security protocols, providing a secure trading environment for its users.
The platform primarily operates using its own proprietary web-based trading platform and mobile application. It isn’t made to work, however, with third-party apps, such as MetaTrader 4 or MetaTrader 5.
This platform is designed with a focus on user-friendliness, social trading features like CopyTrader and Smart Portfolios, and seamless access to the various assets eToro offers, including stocks, ETFs, cryptocurrencies, commodities, and currencies (as CFDs).
eToro mobile app
eToro’s mobile app is intuitive and simple to understand. It’s available for both Android and iOS devices and delivers all of the features that are available on its web platform, including the popular CopyTrader and Smart Portfolios features.
eToro’s CopyTrader platform
CopyTrader allows you to copy and trade automatically based on the moves of other traders. You pick an investor to copy, and with the platform, you can mirror that investor’s positions automatically. You can also use a stop-loss level to limit potential losses.
The minimum amount to copy a user is $200. Users can copy up to 100 traders simultaneously. Even without using CopyTrader, users can view millions of other traders’ portfolios, stats, and risk scores.
If you are based in New York, Nevada, Hawaii, Puerto Rico or US Virgin Islands, the CopyTrader feature is unavailable.
eToro’s Smart Portfolios platform
eToro is offering over 65 smart portfolios on different markets. The smart portfolios are various combinations of assets, automatically managed by eToro’s professionals. Like robo-advisors, they are designed to simplify the investment process and are made for investors looking for a hands-off approach to investing.
Some of the smart portfolios are based on BlackRock’s asset allocation, using iShares ETFs across different asset classes based on risk appetite, ranging from a conservative ‘core income’ portfolio through ‘stability’, ‘moderate’, and ‘dynamic’ to the highest-risk ‘core equity’ portfolio.
Each eToro Portfolio is periodically rebalanced to get the most out of the thematic trading strategy it’s based on. There are no management fees. The minimum investment for eToro Smart Portfolios is $500.
Your capital is at risk.
Demo trading platform
The trading platform offers $100,000 in virtual funds with no time limit on its demo account, allowing users to practice trading all of the assets available to actual eToro investors.
The eToro demo account also allows users to experience Smart Portfolios. With a click on your account dashboard, you can easily switch between your real and virtual portfolios.
The demo account mirrors the live trading environment, utilizing real-time market data.
eToro trading tools and user experience
Educational resources
The platform includes access to eToro’s Academy, which has a multitude of courses, tutorials and podcasts on different investing topics. The academy’s resources include interactive learning features, such as quizzes and trading simulators.
eToro Money e-money account and crypto wallet
The eToro Money mobile app is an electronic money and crypto wallet, which gives eToro clients a convenient way of managing their funds in various currencies. It also works as a crypto wallet, allowing clients to store, send, and receive cryptocurrencies.
eToro’s clients in the UK and many European Union countries can manage their GBP or EUR-denominated account through the eToro Money app, including transferring funds to their eToro USD investment account, or withdrawing funds to an external account.
In the UK, and for eToro Club members only, it also comes with a Visa debit card.
The mobile app is available on both the App Store (for iOS devices) and the Google Play Store (for Android devices).
Charting and analysis
Within its charting features, eToro provides access to a rich selection of more than 100 indicators and a variety of tools for market analysis, all thanks to their collaboration with TradingView, a prominent provider of charting and analysis technology.
This integration equips eToro users with advanced charting capabilities, including more than 50 drawing tools, empowering them to conduct in-depth market research, formulate trading strategies, perform technical analysis, and identify market trends to make well-informed trading decisions.
The platform’s charting features encompass a wide array of indicators, drawing instruments, and sophisticated analytical tools such as extended Fibonacci, Gann, and Elliot tools.
Your capital is at risk.
Trading signals
eToro has recently earned a spot on our list of the best stock trading signal providers, after the addition of a ‘Research Tab’ feature, a result of its cooperation with financial data analysis provider TipRanks.
The new ‘Research Tab’ brings US stock-market insights to eToro’s trading community. Leveraging artificial intelligence (AI) technology, the tool gathers the latest stock analysis and recommendations from analysts at major investment banks and other financial forecasters.
Account types
eToro only allows one account type per user. You need to choose the account type that best suits your trading needs and eligibility. The specific features and conditions of each account type may also vary slightly depending on the regulatory entity under which your eToro account is registered
Retail account
The retail account is the most common account type offered by eToro. It’s designed for individual traders and investors and provides access to the full suite of eToro’s features and a wide array of financial instruments. Leverage is available, but it’s typically limited to protect retail investors.
The maximum leverage offered depends on the asset class and the regulatory entity under which your account is registered. For example, under European regulations, major currency pairs might have a maximum leverage of 1:30, while other assets have lower limits.
Professional account
Investors with $500,000 or more in their portfolio are eligible for eToro’s professional account. It’s designed for experienced investors who meet specific criteria.
Your capital is at risk.
Customer support
eToro provides customer service via live chat with agents available Monday through Friday from 8 a.m. through 8 p.m. (EST). In addition, you can reach eToro via automated chat 24/7.
More specific questions can be answered by emailing a ticket to customer support. One downside is no customer support phone service is available.
Deposits and withdrawals
The minimum deposit to start investing using eToro is $50 in the US and the equivalent of $50 in the UK. In other regions, the minimum deposit varies, going as high as $10,000 in Israel. The broker doesn’t charge a transaction fee for making the deposit into your account.
The broker charges a $5 withdrawal fee for every withdrawal request from a USD investment account to an external account. However, withdrawals from GBP and EUR accounts to external accounts are usually fee-free.
Other conversion fees may apply if the withdrawal currency is not USD, and intermediary bank fees could also be charged for international transfers.
eToro Club loyalty scheme
The broker also runs an exclusive tiered members’ club where eToro users can fulfill certain requirements, e.g. higher minimum deposit levels, in exchange for certain advantages.
There are five levels, ranging from Silver to Diamond. The required account balance ranges from $5,000 for the Silver level, to $250,000 for the Diamond tier.
Depending on your tier, benefits may include a your own Customer Success Agent, live market webinars, data-based Smart Portfolios, and access to partner apps, exemption from withdrawal fees, free access to a top-tier digital publication, access to special sporting and cultural events and more.
Additionally, club membership involves tired financial rewards, such as FX conversion fee discounts, interest, currently, of between 1% and 4.3% on available cash balance, and crypto staking rate of between 55% and 90%.
Summary
eToro stands out as a popular and accessible multi-asset trading platform, particularly recognized for its pioneering social trading features like CopyTrader and Smart Portfolios, which cater to both novice and experienced investors seeking a collaborative trading environment.
With a substantial user base and regulation across multiple jurisdictions, eToro provides access to a diverse range of more than 7,000 financial instruments, including stocks, ETFs, cryptocurrencies, forex, and commodities, offering both direct investment and CFD trading options.
While eToro boasts commission-free trading ETFs and a straightforward 1% fee on crypto transactions, potential users should be mindful of higher spreads on some forex trades and a $10 monthly inactivity fee for dormant accounts.
Overall, eToro presents a compelling option for individuals interested in social trading and a wide array of investment opportunities, provided they consider the fee structure and platform-specific tools.
Your capital is at risk.
FAQs
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References
eToro new stock lending program
eToro’s UK and European clients crypto transfers
Disclaimer:
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
