HomeReviewsProducts & ServiceseToro Review: Best Discount Broker Out There?

eToro Review: Best Discount Broker Out There?


“As an Amazon Associate & Affiliate Partners of several other brands we earn from qualifying purchases.” [Read More Here]


eToro Review
  • Features
  • Commission & Fees
  • Customer Support

Summary

With its modern embedded technologies, visually rich interface, host of tools to study financial instruments, and unique features like CopyTrader and CopyPortfolios, eToro is an impressive platform for trading. Other than the minimum deposit fees and withdrawal fees, eToro does not charge a lot for the features it offers.

 

Overall
4.6

Pros

  • CopyTrader
  • Diversified Financial Instruments to Invest in
  • Detailed Charting and Studying Tools

Cons

  • High first-time minimum deposit fees.
  • Slow withdrawal process

Selecting a stockbroker to transact your stocks is as crucial as buying stocks themselves. This is why, in this post, we take an in-depth look at eToro, one of the leading international stockbrokers on the globe, and understand if trading with them is beneficial for you or not. So let’s proceed towards the eToro review with the introduction.

Introduction

Etoro Homepage

eToro is a social trading and multi-asset brokerage company founded by three guys – brothers Yoni Assia and Ronen Assia and David Ring in 2007 in Tel Aviv, Israel. With four rounds of funding, these guys raised a whopping $31.5 million between 2007 and 2013. The company got further investments from Russian and Chinese investors after eToro and CoinDash became partners to develop Blockchain-based social trading.

Gradually, eToro then started expanding and growing and now comes under one of the best stockbrokers in the world. Today, it has got registered offices in Cyprus, Israel, China, and the United Kingdom. eToro is regulated by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider
whether you can afford to take the high risk of losing your money.

Services Offered

eToro offers a selection of stocks, currencies, commodities, cryptocurrencies, ETFs, and indices. With its professional tools and analyses, users can track and invest in various financial instruments and other services.

Apart from traditional manual trading, eToro has something called Social Trading. With this, users or clients can follow the portfolio of other clients and use “CopyTrader”, a feature that replicates everything they do in real-time. To achieve this, eToro operates in full transparency. This includes displaying each clients’ data, such as gain percentage, risk score, and portfolio composition.

There is also another instrument called “CopyPortfolios”. These are ready-made investment portfolios comprised of several financial assets and top traders with a predetermined financial strategy.

Trading on eToro

eToro provides traders a very user-friendly and visually rich platform. In addition to their website, eToro also offers Android and iOS applications so that you can trade on the go or keep an eye on the performance of your portfolio.

1. Dashboard

Etoro Dashboard

After logging in, the Dashboard is the first thing you will see on your eToro account. It consists of a live summary of your financial assets. These are constantly updated in real-time when the respective markets are open. You can add stocks, commodities, indices, cryptocurrencies, and even other financial assets such as Forex currencies on your Dashboard.

On the left side of your Dashboard, there is a panel with a bunch of options –

  • eToro Watchlist
  • eToro Portfolio tracker
  • Market News Feed
  • Trade Markets with eToro
  • Copy People – Copy other traders on eToro
  • Invest in CopyPortfolios with eToro
  • eToro Club Dashboard
  • Invite Friends to eToro
  • eToro Help Portal
  • eToro Guides
  • Withdraw Funds from eToro
  • eToro Demo and eToro Live markets toggle
  • Search markets and people on eToro

These options provide many tools that you can use to optimize your trading for yielding the best results.

2. Charts

Etoro Eur Usd Chart

eToro is a visually and graphically rich trading platform. Its “ProCharts” feature lets you configure each of the charts so that you can view what you want to. eToro currently offers 5 types of charting –

  • Candle
  • Hollow Candle
  • Bar
  • Line
  • Mountain

Apart from charting types, eToro has the following tools for chart marking and studying:

  • Measure
  • Channel
  • Annotation
  • Fibonacci
  • Horizontal
  • Vertical
  • Line
  • Ray
  • Segment
  • Rectangle
  • Eclipse
  • Doodle
  • Pitchfork
  • Accumulation / Distribution
  • Accumulative Swing Index
  • ADX / DMS
  • Alligator
  • Aroon
  • Arron Oscillator
  • Average True Range
  • Awesome Oscillator
  • Bollinger Bands
  • Center of Gravity
  • Chaikin Volatility
  • Chande Forecast Oscillator
  • Chande Momentum Oscillator
  • Commodity Channel Index
  • Coppock Curve
  • Detrended Price Oscillator
  • Donchian Channel
  • Ehler Fisher
  • Elder Ray Index
  • Fractal Choas Bands
  • Fractal Choas Oscillator
  • High Low Bands
  • High Minus Low
  • Highest High Value
  • Historical Volatility
  • Ichimoku Clouds
  • Intraday Momentum Index
  • Keltner Channel
  • Linear Reg Forecast
  • Linear Reg Intercept
  • Linear Reg R2
  • Linear Reg Slope
  • Lowest Low Value
  • MACD
  • Mass Index
  • Median Price
  • Momentum Indicator
  • Money Flow Index
  • Moving Average
  • Moving Average Deviation
  • Moving Average Envelope
  • Parabolic SAR
  • Pivot Points
  • Pretty Good Oscillator
  • Price Oscillator
  • Price Rate of Change
  • Prime Number Bands
  • Prime Number Oscillator
  • QStick
  • Random Walk Index
  • Ravi
  • RSI
  • Schaff Trend Cycle
  • Standard Deviation
  • Stochastic Momentum Index
  • Stochastics
  • Swing Index
  • Time Series Forecast
  • TRIX
  • True Range
  • Typical Price
  • Ultimate Oscillator
  • Vertical Horizontal Filter
  • Weighted Close
  • Williams %R

Besides these study tools, eToro provides in-depth and detailed statistics of the financial asset you want to view. It can display many details like the previous close, days range, average volume, 1-year return, revenue, EPS market cap, 52-week range, profit/earnings ratio, and dividend yield.

3. News Feed

Etoro News Feed

A lot of online trading platforms often rely upon other news sources. But eToro has a built-in news feed for its traders. You can read market news about companies you want to and add it to your news feed. However, we recommend not completely relying upon eToro for your share of news and do independent research before committing to any major financial decision.

4. CopyTrader

Perhaps the biggest reason why eToro is so successful, CopyTrader is an innovative tool that allows traders to copy trades of other successful traders on the platform. the CopyTrader page on eToro has a meticulously designed layout that sorts trades by Editor’s Choice, Most Copied, Trending, Top Investors, Lower Risk Score, Medium Risk Score.

Etoro Copytraders
* Past performance is not an indication of future results.

Apart from trades, you can also see news feeds, trading stats, and performance of successful traders since eToro has full transparency. You can even filter traders by a specific country or the type of market as well.

A risk score is also something you need to keep in mind while copying trades from other people. eToro calculates a trader’s risk score by calculating the last week’s average. You can also see the trends between someone’s risk score over a period of time. You can also see how many other traders are copying a particular trader.

5. CopyPortfolios

Etoro Copyportfolios
* Past performance is not an indication of future results.

This feature is similar to CopyTraders. The difference being instead of any successful traders with an unknown strategy, CopyPortfolios allows you to copy markets and traders with a predetermined trading strategy. All the other things like statistics, risk scores, etc. are the same as that of CopyTrader.

6. Withdrawal and Funding

You can fund and withdraw money from your eToro account using any of the following methods –

  • Credit cards
  • Bank Transfer
  • PayPal
  • Skrill
  • Neteller
  • UnionPay

Please note that these options may vary depending upon where you live. For more information, you can click here.

7. Customer Support

eToro offers customer support in multiple languages such as English, German, Spanish, French, Italian, etc. You can contact their customer support using the live chat option on their website or by sending them an email.

Fees

Here is a breakdown of various ways eToro could charge you fees.

1. Minimum Deposit

eToro requires a minimum deposit of 200 USD/GBP when you open a new trading account with them. Stockbrokers usually charge a minimum deposit amount since they offer more compelling services than others who have a lower minimum deposit. You can use this money towards the transaction of any financial instrument, essentially making it a free trading account.

Surfshark

2. Deposit Fees

eToro does not charge any fees when you are depositing money into your trading account.

3. Withdrawal Fees

eToro charges $5 for withdrawal requests. Currencies other than USD will also have conversion fees. You can withdraw money to any medium we have mentioned earlier.

4. Inactivity Fees

eToro does not charge any fees for accounts that are no longer active. Some brokers have a certain time limit, after which your account might become inactive. eToro has no such policy.

Final Words

With its modern embedded technologies, visually rich interface, host of tools to study financial instruments, and unique features like CopyTrader and CopyPortfolios, eToro is an impressive platform for trading. Other than the minimum deposit fees and withdrawal fees, eToro does not charge a lot for the features it offers.

Their Android and iOS apps are great as well that enables you to keep getting updated about how your portfolio is performing and most of the other features on the web.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider
whether you can afford to take the high risk of losing your money.

We hope that you now have an idea about how the platform works and what are the things you can do with it. If you have any questions about eToro, you can comment them down below.

Also read: List of Best Online Investment Platforms & Apps

Disclaimer:

eToro is a multi-asset platform that offers both investing in stocks and crypto assets, 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. 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.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore
are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and
is not supervised by any EU regulatory framework.

FAQs

What is eToro?

eToro is an Israeli social trading and multi-asset brokerage company. It means using eToro; you can invest in stocks, ETFs, currencies, indices, commodities, and even cryptocurrencies.

How to use eToro in USA?

US Residents can sign up for eToro online and follow the procedure to open a free account on eToro and proceed normally.

How does eToro Work?

eToro is an online retail broker. It allows its customers to trade online with a low minimum deposit. When a user places a trade through eToro, they charge a fee (only on short-selling/using leverage; otherwise, it is free), and that is what helps them pay their bills.

What is Risk Level in eToro?

Risk Level is completely dependent on you as you will be the one going to place a trade. It is your job to check the risk level for that particular investment and proceed cautiously. Although eToro will help you by showing a Risk Score on a particular investment.

Can you Make Money from eToro?

Yes, of course, you can make money on eToro. But it will highly depend on your trading skills. If you are a beginner to trading, we will recommend that you start small and have proper knowledge about trading before jumping blindly into it.

Is eToro Legit?

Yes, eToro is Legit and Regulated. eToro operates in accordance with ASIC, FAC and CySEC. You can read more about it on the official site of eToro.

Is eToro Good for Beginners?

Yes, it is good for beginners because it is free to sign up and get started with trading. Even if you don’t want to place any trades, you can learn a lot by checking out copy trades from other experienced investors.

Is eToro Legal in USA?

Yes, eToro is Legal in USA. According to the official website, eToro started doing business with US investors in 2018 and it is still operational.

Is eToro Really Free?

If you are talking about commissions here, then yes. If you are buying stocks on eToro except if you are short selling or using leverage, there is no commission.

Do I Pay Tax on eToro?

When you book a profit on eToro, yes you are required to pay taxes as per your country regulations. For example: You Bought XYZ Stock at USD 10 and sold the XYZ Stock at USD 12.50, you booked a profit of USD 2.50 and it is taxable as per your local/country laws. If you don’t know about legal regulations related to taxes then we strongly recommend hiring a Chartered Accountant.

What happens if eToro goes bust?

We are not gonna lie, there are some risks associated if eToro goes bankrupt. But on the positive note eToro is a member of Investor Compensation Fund for Customers of CIFs and it can fund up to EUR 20,000 per client.

About Author

Mehul Borichahttps://techrrival.com
Mehul Boricha is the founder of Tech Arrival & Astute Links. He is a computer and smartphone geek from Junagadh, Gujarat, India. He is a Computer Engineer by Education & an Entrepreneur by Passion. Apart from technology geek, he is an audiophile & loves to connect with people.

Leave a Comment

Please enter your comment!
Please enter your name here

By submitting the above comment form, you agree to our Privacy Policy and agree with the storage and handling of your data by this website.

Stay Connected

Subscribe to our Newsletter

Stay updated with all the latest news, offers and special announcements.

By signing up, you agree to our Privacy Policy and agree with the storage and handling of your data by this website.

Latest Posts

10 Best YouTube Playlist Downloaders

YouTube has become so popular that it is simply impossible to imagine a life without it. It is one of the best platforms for...

8 Best Bluestacks Alternatives You Should Use

Android emulators have been around for more than a decade now. So if you thought it is a new concept, you are wrong. Despite the...

12 Best Bookmark Managers You Should Use

There is a huge amount of content on the internet. Be it articles, blogs, videos, infographics, images, and even white papers. With so much online...

9 Best Free Online YouTube to MP3 Converters

As you already know, YouTube has the largest collection of music than most other websites. But the problem is you cannot listen to them...

22 Best Open Source Apps for Android

As you already know, Android is an open-source platform. This gives the freedom to smartphone manufacturers to shape it the way they want. Just...

All Time Favorites

18 Best WiFi Hacking Apps for Android

When you enter the hacking world, you would know that almost every basic tutorial you would search for on the net won’t be possible...

21 Best Android Apps Not on Google Play Store

Google Play Store has the most extensive collection of apps for Android. Almost everyone downloads apps from the Play Store. But many excellent apps...

14 Best Game Hacker Apps for Android (With/Without Root)

Are you a mobile gamer? If you are, then you've come to the right place. In this post, we are going to tell you...

How to Download Torrent Files with IDM (Torrent to IDM)

Hey guys, you may all have heard about different ways to download torrent files. And some of you may also have downloaded them using...

11 Best Download Managers for Windows

The Internet is a vast resource of a lot of things which includes music, videos, movies and a lot of other things. The ability...