eToro Review

The firm's main research and development office is based in Tel Aviv Israel. It originally specialized in Forex and indices spreadbetting and CFDs but has recently expanded in stock trading also.

At the time of writing, eToro has 2.2 out of 5 star on Trust pilot. The comments suggest that the platform offers some impressive features but withdrawing money can be difficult. Having said that, some of the negative reviews appear to be rants rather than constructive criticism. This can be examples of traders losing money through their own recklessness rather than eToro's fault. You should therefore take this reviews with a pinch of salt.

eToro Tradable Assets

Although we have listed the major assets below, eToro is regularly adding new assets and securities as and when they become available. A recent examples was Dodgecoin.

• Stocks

  Google, Microsoft, Tesla, Apple, Amazon, Netflix Facebook, American Express, Adobe, Disney, Ebay, Nike McDonalds, Spotify, Johnson & Johnson ASML, BMW, Adidas, LVMH, ASOS, Total, Nestle, Alibaba, Tencent

• Commodities

  Oil, Gold, Silver, Copper, Natural gas, Platinum, Palladium, Sugar, Cotton, Cocoa, Wheat, Aluminium, Nickel

• Forex

  All the major currency pairs are there, such as USD, EUR, GBP, JPY, CHF but there are also some more esoteric currencies, such Hungarian Forint (HUF), South African Rand (ZAR), Poland z?oty (PLN) and Czech Koruna (CZK)

• ETFs

  You will find all the 'core' ETFs, i.e. which track the main markets such as S&P500, FTSE100, STOXX50 and various government bonds such as US 7-10 year treasuries and Treasury Inflation-Protected Security (TIPS). At this time, some of the more thematic ETFs (e.g. environmental ones) are not available.

• Indices

  ASX (Australia), China (A50), Dow Jones, Stocxx 50, Dax 30, Honk Kong, Nikkei, Nasdaq, FTSE100, S&P500

• Crypto

  Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Dash, Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), NEO (NEO)

Please note that the above securities were correct as at the time of publication.
Since then it is likely the above list has evolved.

How Much Leverage does eToro provide?

leverage**

Does eToro accept US clients?

Is eToro regulated and are my funds protected?

eToro (UK) Ltd is registered with UK’s Financial Conduct Authority (FCA). It has gained regulatory approval by “passporting” its authorization to the UK from Cyprus.

Although regulated by several different regulators such as Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC), it is worth checking the detail. You may find that although the firm is authorised, some of the products you are using are not covered by various consumer protection schemes such as the FSCS.

All client funds are held in segregated client accounts as per the FCA's CASS rules.

Interestingly for a platform which allows users to trade shares, eToro has also become a listed company in itself. It recently merged with a SPAC called FinTech Acquisition Corp. V. SPAC's are an area to keep an eye on, the speed at which many area appearing could lead to risks that are so far not appreciated.

Account Opening

To open an account you will be asked for personal details such as your name and date of birth but also a proof of identification which you can upload as a picture. This check will also require a proof of address document. You will be also be asked questions to ensure you understand the risks involved in trading. These questions are likely to involve your understand of leverage.

There is a minimum account opening amount of $200 in normal times. During times of stress, eToro has been known to temporarily increase this to $1,000. Anyone wishing to open their account with the smaller amount should wait 2 weeks, as the minimum amount which decrease as volatility calms down!

You can deposit funds using a variety of methods such as bank transfer, Paypal credit/debit card, Neteller, iDEAL, Skrill and other e-wallets. You are able to send in the following currencies: USD, GBP, EUR and AUD.

Account Closing Process

At the bottom of the account settings page, you will need to follow the follow the self-service account closure link. You will need to ensure that you have $25 in your account to close the account down.

You can withdraw cash by using your credit card, or through a Paypal or bank transfer. You have to have a minimum of $30 to withdraw for a request to be accepted and you will be charged $5. Your withdrawal request will be confirmed by email.

It takes the following time to repay you:

• Asia Online Banking 1-2 business days
• China Union Pay 1-2 business days
• Credit / Debit card Up to 8 business days
• Neteller 1-2 business days
• PayPal 1-2 business days
• Skrill 1-2 business days
• Wire Transfer Up to 8 business days

Features

Commission and charges

Usability

From a visual perspective, eToro is impressive and easy to navigate. They have also taken some decisions to simplify trading for clients. For example, although trading name is Alphabet, they have renamed it Google. This helps new investors who may not be aware of this.

Does eToro Offer Demo Accounts?

The demo account is found in the same location as the live account. When you log in on the top left hand side there is a relatively small drop-down arrow under your profile picture. You have the 'real portfolio option' option and the 'virtual portfolio' option. Each time you switch you will be prompted, so it is unlikely you will get confused. Indeed once in the 'virtual portfolio' the top bar is a different colour allowing you to have a visual check of which account you are in.

The Virtual portfolio gives you the same features as the real portfolio.

What Are eToro's Opening Hours?

open tradining houtr

Customer Services

cusstpomer services

Does eToro Provide Mobile Trading?

mbvile trading

Does eToro Provide Trading Education?

edcation

Frequently Asked Questions (FAQs)

Is eToro regulated?

Yes, by the FCA, CySEC and ASIC.

Where is eToro based?

eToro is based at eToro (UK) Ltd, 24th floor, One Canada Square, Canary Wharf, London, E14 5AB.

How does eToro make money?

eToro makes money mainly through spreads and swaps on certain products.

How do I deposit in eToro account?

Funds can be deposited into a trading account via bank wire transfer, credit/debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL and Klarna.

Conclusion

There is little research available on the platform which may explain why it is launching its analysts consultation service (for Premium and above members). The platform is easy to use, indeed it is a market leader in this field.

The 14 day response time for customer service is long, although in the current times of exceptional high retail trading not necessarily so. Indeed the detailed answers you receive is an improvement on the unhelpful 'firm line' one normally gets from these platforms.

Finally eToro clear advantage is the copy trader space, where traders who want to get their own clients or are looking to copy successful traders can do so at their heart's content.