Introduction
eToro offers four types of accounts:
- Personal (Retail) Account: This is the default account type, allowing trading across all offered assets, copying other traders, and investing in Smart Portfolios. While leverage is limited, this account offers the highest level of consumer protection.
- Professional Account: Reserved for clients who meet specific criteria, professional accounts permit the use of higher leverage when opening trades.
- Corporate Account: Intended for business purposes, corporate accounts are utilized by legal entities. Ideal for trading with business capital.
- Islamic Account: Designed for Muslim clients, Islamic accounts adhere to Sharia law by not charging interest-based fees.
All accounts include access to eToro’s virtual portfolio (demo account), allowing for risk-free investment practice.
Register for Account
Simply sign up online for a eToro account.
Verify Your Account
Upload the required documents to verify your identity.
Make a Secure Deposit
Fund your account using eToro's flexible payment options.
You’re Ready to Trade
Connect to your trading account and start investing in global markets.
Customer Service
This broker offers excellent customer service, available anytime, anywhere. Besides live chat, you can also reach them via:
Our Take
eToro is a market-leading online brokerage and social trading network, offering a seamless platform for buying and selling leading cryptocurrencies and copying trades from experienced crypto traders. Known for its intuitive user interface, eToro provides a beginner-friendly trading experience.
Beyond cryptocurrency trading, eToro also offers opportunities to invest in stocks, ETFs, and other securities, with the availability of assets varying depending on your location. For U.S. citizens, the platform provides access to trade 21 digital currencies and tokens, over 3,000 stocks, more than 270 ETFs, and options contracts across a range of assets.
Pros & Cons
Established, global platform
Broad range of tradable crypto assets
Innovative and easy-to-use social trading experience
Only available in 47 U.S. states
Margin trading not available in the U.S.
Lacks advanced trading tools and features
Pros Explained
Usability
eToro offers a user-friendly interface, both on its mobile app and web platform, ensuring a seamless trading experience across devices. With a straightforward design, traders can easily navigate the platform and access desired features.
The flagship CopyTrader tool simplifies the process of replicating the trades of popular crypto traders. Users can effortlessly search for and follow the strategies of successful traders, making it convenient to start trading.
The platform’s News Feed enhances the social trading aspect, resembling a social media platform where users share market insights. This feature provides valuable insights into the strategies of successful traders, aiding users in making informed decisions about whom to copy.
Trade Experience
eToro offers a streamlined onboarding process, utilizing a self-guided questionnaire to collect necessary personal information for account setup. The platform supports integration with various financial institutions, facilitating easy deposits into users’ accounts. With a quick setup, users can promptly start trading. Additionally, setting up an eToro Options account for options trading is straightforward through the eToro Options app.
On the eToro platform, the “Trading” tab provides real-time prices and enables users to buy, sell, or convert cryptocurrencies, ETFs, and stocks. While eToro offers a selection of 21 cryptocurrencies, over 3,250 stocks, and more than 270 ETFs, some users may find its list of tradable assets less extensive compared to competitors. Moreover, the platform primarily offers basic order types such as market and limit orders, limiting options for advanced traders.
The flagship features of CopyTrader and the Popular Investor Program stand out on the platform. These features allow users to replicate the trades of successful traders, while successful traders earn rewards when their trades are copied. The interactive nature of these offerings, coupled with the platform’s social media-like experience, enhances the user experience.
eToro enables custom watchlists that sync seamlessly between the mobile and web platforms, allowing users to monitor their interests effortlessly. Users can customize watchlists with volatility alerts, receiving notifications directly to their phones.
Mobile Trade Experience
eToro’s mobile app boasts a user-friendly design, characterized by its simplicity and lack of clutter. The interface is intuitive, making it particularly appealing to beginner investors. Its resemblance to a social media app adds an innovative touch to the user experience, encouraging engagement with other traders and popular investor profiles.
The app’s familiarity may provide a sense of comfort for novice investors, as it diverges from the typical layout of traditional brokerage offerings. While experienced traders accustomed to a more straightforward approach may need some adjustment, the app remains highly intuitive overall.
Range of Offerings
On eToro’s U.S. platform, users have access to a limited selection of offerings compared to international versions. Here’s what’s available:
- 24 cryptocurrencies
- 3,250+ stocks
- 270+ ETFs
- Crypto copy trading through CopyTrader
- Options trading
- Cash management through eToro Money
- Portfolio automation through Smart Portfolios
- Fractional share investing
Order Types
Trading Technology
Costs
eToro’s fee structure aligns with that of many other online brokerages and cryptocurrency trading platforms. Here’s an overview of eToro’s fees:
- Crypto trading incurs a 1% fee based on the amount of cryptocurrency bought or sold. This fee is included in the bid-ask spread.
- A fee is charged when transferring crypto assets from your eToro trading account to your eToro Money crypto wallet.
- There are no fees or commissions for ETFs and stocks, although ETFs may have internal costs.
- A withdrawal fee of $5 applies, with a minimum withdrawal amount of $30. However, this fee is waived for Platinum, Platinum+, and Diamond Club members.
- Withdrawals and deposits are conducted in USD, and non-USD transactions may incur conversion fees ranging from 1.5% to 3.0% per transaction, depending on the currency and payment method.
- An inactivity fee of $10 per month is charged for users who have been inactive for more than a year.
Is eToro Safe?
The Bottom Line
eToro stands out as a well-established online brokerage offering crypto trading services in the United States. Its user-friendly interface, accessible on both web and mobile platforms, grants easy entry to a variety of crypto assets. With features like CopyTrader and SmartPortfolios, eToro enhances its beginner-friendly appeal, simplifying the crypto asset market for newcomers.
Beyond crypto trading, eToro users can diversify their investments by accessing stocks, ETFs, and options. While the platform provides a range of products to choose from, its list of tradable assets across all supported classes may not be as extensive as some competitors. Additionally, the absence of advanced trading tools, comprehensive research, and margin trading may deter experienced traders seeking advanced strategies.
eToro caters primarily to beginners and less experienced traders interested in trading popular cryptocurrencies and other assets, along with leveraging the platform’s copy trading feature. However, advanced traders focused on cryptocurrency trading may find more suitable options on popular crypto exchanges to fulfill their trading needs.
