Summary: eToro is a social trading and investment platform that allows users to invest in a variety of assets, including stocks, commodities, forex, and cryptocurrencies. eToro also offers an innovative CopyTrader feature, which allows users to copy the trades of other successful investors on the platform.
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What is eToro
eToro is the largest multi-asset investing and trading platform in the entire world. It was founded in 2007 by brothers Yoni and Ronen Assia, and their partner David Ring. The company is headquartered in Cyprus and has offices in Israel, the United Kingdom, and the United States. eToro has over 10 million registered users from over 140 countries.
It’s a great choice for investors who are looking for a social trading and investment platform with a wide range of asset classes and a user-friendly interface. eToro is regulated in multiple countries by CySEC, FCA, ASIC, SEC & FINRA. It offers a number of unique features, like CopyTrader, which can be beneficial for both new and experienced investors.
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Supported features & assets
eToro offers the largest selection of asset classes out of any brokerage platform in the world. Additionally, it has many useful features on its platform, including a social platform where you can connect with other eToro users. Below you can find a high-level overview of the features offered on the eToro investing platform.
- Six Asset Classes: eToro users can invest in multiple asset classes including stocks, ETFs, commodities, currencies, indices and cryptocurrencies.
- Stocks: eToro offers over 2200 stocks from a variety of global exchanges, including the New York Stock Exchange (NYSE), Nasdaq, London Stock Exchange (LSE), and more.
- Commodities: eToro offers over 30 commodities for users to invest in, including gold, silver, oil, and natural gas.
- Forex: eToro offers investing in over 50 currency pairs for users to trade, including major ones like EUR/USD and GBP/USD.
- Cryptocurrencies: eToro was one of the first brokers to offer cryptocurrency trading, and allows users to trade over 70 digital assets, including Bitcoin, Ethereum, Litecoin, XRP, and more.
- Indices: eToro offers investment opportunities in 15 different indices.
- ETFs (Exchange Traded Funds): eToro allows users to invest in over 250 ETFs.
- CopyTrading: A feature where users can mimic the trades of popular traders and investors.
- eToro Social Platform: A social media platform that allows eToro users to discuss trades, strategies and news directly on the exchange.
- Cryptocurrency Staking: Crypto staking on multiple tokens including Ethereum (ETH), Cardano (ADA) and Tron (TRX).
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Is eToro a safe and secure platform?
eToro is regulated by financial authorities in multiple jurisdictions, and it offers a safe and secure platform for online trading. It is regulated by the FCA in the UK, the CySEC in Cyprus/Europe, ASIC in Australia, SEC & FINRA in the US, and the Israeli Securities Authority (ISA). eToro is also licensed by the Financial Sector Conduct Authority (FSCA) in South Africa.
The exchange has implemented a number of security measures to protect users' funds. These include two-factor authentication, SSL encryption, and a host of other security features. eToro also offers a demo account to allow new users to practice trading before they invest any real money. It has also never been subject to any cyber-attacks or hacking incidents proving it’s battle-tested.
Does eToro have high fees?
eToro has a diverse and extensive fee schedule with different pricing for every asset class. Refer to the list below for a comprehensive breakdown of eToro's fees. You can verify these fees by visiting the eToro Pricing page.
Deposit & Withdrawal Fees:
- Deposit - Free.
- Withdrawal - $5 USD flat fee for all withdrawals.
Trading Fees:
- Stocks - Free.
- ETFs - Free.
- Commodities - 2 PIPs (percentage in point).
- Currencies - 1 PIP.
- Indices - 0.75 points (points refer to prices changes of the decimal point).
- Crypto - 1% flat fee on all trades.
Other Fees:
- Inactivity Fee - After 12 months with no login activity, a $10 monthly inactivity fee will be charged on any remaining available balance.
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How to buy stocks on eToro
In this step-by-step guide, we show investors how to deposit funds onto the eToro exchange and purchase stocks. Follow the below steps to get started.
- Sign up to eToro and verify your identity.
- Click 'Deposit Funds', choose your method and send money to your eToro account.
- Search for the stock you want to invest in through the search bar and select 'Trade'.
- Enter the amount you want to invest and click 'Set Order'.
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Does eToro have a mobile app?
Yes, there is a mobile version of the eToro app available on both iOS and Android devices. On the Google Play store, the app is rated 4.2 stars from 120K reviews. And on the Apple app store, it is rated 4.3 stars out of 2K reviews and is ranked #50 overall in the Finance category.
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How to contact customer support on eToro
Unfortunately, eToro does not offer a live support feature on its platform. The only way to contact customer support is through an online ticketing system. Additionally, they can be contacted via Facebook, Twitter, Instagram & YouTube.
Final Conclusion
eToro is a great investing and trading platform for beginners and experienced traders. It offers a simple and easy-to-navigate UI, zero commissions on stocks and ETFs, multiple asset classes and useful features like CopyTrading. Overall, it's a useful and simple platform that is suited for all types of investors, and is available to use in over 140 countries.
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