Welcome to today’s review: 

“Etoro Reviews 2019: Social Trading, Platform, and Fees”

There are a lot of exchanges that are offered internationally today. If you are looking for a reliable and trusted exchange, then eToro could be of one the best choices around.

But what can you expect inside the eToro platform? Which asset types available, and which countries can invest in eToro?

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We’ve taken a thorough review of eToro so that you can decide whether this is the trading platform for you and your money.


eToro Overview: 

etoro-logo

Product Name: eToro

Website: etoro.com

Founder: Yoni Assia, Ronen Assia, and David Ring

Type:  Exchange / Broker

Market: Commodities, Cryptos, CFDs, Forex, Stocks, and ETFs

Fees: No Account Fee, $25 USD Withdrawal Fee, $5 USD Inactivity Fee, No Deposit Fee

Minimum Deposit: $200

Best For:  Beginner-Professional

Rating: 95/100

Recommended:  Yes

open-a-etoro-demo-account


What is
eToro?

etoro-reviews-2019-platform-social-trading-and-fees

eToro is a social investment network and multi-asset brokerage company. It has main research and development office in Tel Aviv, Israel and registered offices in Cyprus, China, Australia, and the United Kingdom.

eToro was founded back in 2006 as RetailFX by brothers Yoni and Ronen Assia together with David Ring. The company has grown by leaps and bounds since then and now brings its trading services to 10+ million customers in more than 60 countries.

eToro’s main services are online Forex trading, financial spread betting, ETFs, CFDs, copy trading and cryptocurrency trading.


eToro Security and Regulation

As mentioned above, eToro is a multi-international trading company. It is therefore regulated by several national and international bodies. eToro has compliance and supervision from the following:

  • (EUROPE): Markets in Financial Instruments Directive (MiFID) directives about company practice and client security.
  • (UK): Financial Conduct Authority (FCA)
  • (CYPRUS): The Cyprus Securities and Exchange Commission (CySEC)
  • (AUSTRALIA):  Licensed Broker – currencies and derivatives

eToro continues expanding its business and has had to improve its overall compliance with the different regulatory agencies like the above.

As eToro has expanded into the US and other major markets, regulations from the Securities and Exchange Commission (SEC) and other legal bodies also apply.


eToro Trading Platform

eToro’s trading platform is a modernized platform with a combination of different services throughout the years. Today, you can invest and trade with stocks, commodities, foreign currencies, cryptocurrencies, ETFs, CFDs, and indices inside the eToro trading platform.

eToro Trading Platforms Types: 

  • MT4
  • MT3
  • Mobile App
  • Web App

Here are some of the features you would probably love with eToro’s platform: 

  • Simple CFD trading for a bunch of different securities and assets
  • Users can also use CopyTrader to mimic the trading decisions of friends on the program
  • Popular Investor Program to follow the trading of experts
  • CopyPortfolios to replicate a winning trading plan outright
  • Unique eToro Wallet

eToro Wallet Unique Features:

  • This e-wallet is a blockchain-based cryptocurrency trading technology.
  • Different from CFD-based trading eToro customers are used to.
  • Users can actually buy cryptocurrencies, rather than simply making price speculations.
  • It’s an awesome new service based on the demands of a fast-trading market.

This is how it looks like inside the platform. 

etoro-platform

One of the features I personally love on eToro’s platform is the investor’s behavior measured as “sentiments”. You can see here whether the majority of investors are buying or selling a particular asset.

For example, you can put all the assets you want to monitor on your watchlist, so you can see the status plus you get alert from eToro every day about the status of these assets.


eToro Accounts

eToro accounts are very simple.

  • Only one live account type
  • Demo account (paper money trading)

It is highly recommended to use a demo account for any amount of time to make sure you fully comprehend the rules and features of the eToro trading platform. 

open-a-etoro-demo-account


Deposit & Withdrawals on eToro

eToro deposit fees are zero. They provide a free deposit. 

Here’s the list of payment channels to fund your eToro account: 

  • Wire transfer
  • Credit/Debit card
  • Paypal
  • Webmoney
  • Skrill
  • Neteller
  • UnionPay
  • Yandex

Minimum and maximum deposit on eToro:

The initial minimum deposit is $200 for all countries, except for Israeli residents ($10.000)Complete the single user profile questionnaire to deposit up to $2000. Provide proof of identity and residency to deposit more.

Once your eToro account is already verified, there will be no maximum deposit in funding it. It takes between 3-5 business days before the funds reflect in your account. The best options are Credit/debit card and e-wallet deposits, which are instant, but there is a respective $20,000 and $10,000 maximum fund transfer per transaction using these options.


eToro Fees And Pricing

eToro has competitive fees and pricing among the trading platforms around the world.

General Information – Fees: 

  • eToro does not charge any deposit or trading fees other than spreads.
    • No management fees
    • No ticket fees
    • No rollover fees
  • $25 withdrawal fees
  • $50 minimum withdrawal amount
  • Overnight/weekend fees for CFD positions
  • Commission-free stock investing for European clients (no broker fee)
  • Stocks trade with a 0.09% spread
  • All spreads for ETFs have been unified at 0.09%
  • Currency trading, or Forex, spreads are measured in Pips (Percentage in points)
  • Most Forex pip spreads are 20 or below

Here are the sample fees for cryptos, commodities, and indices. 

etoro-crypto

 

etoro-commodities-fees

etoro-indices-fees


eToro Social Trading Platform

eToro has the pioneered investing concept – social trading. With this feature, any user with any level of experience can succeed just as well as the most knowledgeable.

 

Your Social Investment Network

Copy People Feature

eToro has a unique feature that helps beginners to start investing without hassle. Social trading lets users copy the trades of other successful users.

Copy People Feature

eToro thas this most unique feature that helps beginners to start investing with difficulty. Social trading lets users copy the trades of other successful users.

etoro-social-trading

Inside the eToro network, there are featured users portfolios, editor’s choice and the trending portfolios that you choose to copy.

You can also see how many copiers each user have right below their pictures.

Successful users are happily making their investment portfolio publicly visible and available to be copied because they get paid for it.

What’s more amazing is that you can search (on the top search box) for the users who are investing in particular assets – commodities, forex, cryptocurrencies and so on.

Copy Portfolio Feature

There are literary thousands if not hundreds of great portfolios that you can copy inside these features. You can find market portfolios in different niches, the community top traders, eToros partners portfolios.

social-trading-etoro

 


eToro Club

This is a new feature on eToro.

If you can see the “Bronze” status on my profile picture that is because I haven’t utilized the eToro Club membership tiers. The eToro Club members receive an exceptional level of service and enjoy additional privileges with each tier upgrade.

These are the different membership types on eToro Club:

  • Silver Tier members receive access to a dedicated account manager who provides personal attention and assistance
  • Gold Tier members receive access to:
    • live webinars
    • market analysis updates
    • eToro credit line
    • a dedicated account manager
  • Platinum Tier members receive access to:
    • the same benefits as Gold
    • No withdrawal fees
    • access to a private trading signals platform
    • an eToro debit card
    • first access to new products, features and trading assets
  • Platinum+ Tier members receive access to:
    • full range of benefits and services
    • a personal analyst on demand
    • Financial Times subscription
    • exclusive access to special events
    • and much more

And the most exclusive one is the Diamond Tier membership which gives you access to

  • all of the above
  • an exemption on exchange fees
  • participation in the prestigious annual eToro Diamond Gala event

eToro Customer service

eToro customer service is one of the top rated ones:

  • eToro customer service is available 24/7
  • Open Monday through Friday (local time)
  • You can reach eToro by phone
  • You can also send a support ticket
  • People tend to receive live responses from phone requests
  • Support ticket requests are acknowledged within hours
  • Tickets are typically resolved within 2-4 business days

Pros

  • Slick, modern, and easy to use
  • No deposit fees
  • No commission fees
  • New blockchain-based Crypto Wallet
  • All kinds of investment types available
  • Social Trading

Cons

  • Limited choice in the eToro Wallet
  • High withdrawal fees

Conclusion

I have been using eToro for years now and I haven’t had any issue with it. I must admit that I ‘m not fully utilizing the eToro Club as I am already happy with the other features offered inside the eToro platform.

eToro is one of the best platforms. I personally recommend it as it’s easy to use, safe, excellent customer services and it has a unique and special feature – social trading – that is very easy to leverage with by copying other user’s portfolio, market portfolios, and even the eToro partners portfolios.

This is one of the best investing platforms.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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.

That being said, I highly recommend to open a Demo Account first and invest real money once you get fully comprehend with the features inside this platform.

open-a-etoro-demo-account


This is the end of today’s review “Etoro Reviews 2019: Social Trading, Platform, and Fees”. I hope you have learned more about this trading platform and has given you inspiration whether or not eToro is the right place for you and your money.

This review serves not as investment advice. If you need investment advice please leverage the eToro Club membership so you can get access to a dedicated account manager. 

If you have any thought or question, please don’t hesitate to leave a comment below. Good luck with your journey to financial freedom online. God bless!

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