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Should you use eToro trading platform? In Short – Yes You Should.

Will the eToro enhance your trading abilities? Will it give you the tools that make your profits grow? We have answered all of those questions and many more in this eToro extensive review.   the content does not apply to US customers.

The social trading platform eToro was founded in 2007, even before cryptocurrency has been on any one’s mind. eToro is a global company that serves clients by many different regulators world wide. It has offices in many countries such as Australia, USA, UK, Cyprus and more. eToro is a well established and known fin-tech startup that has high-security regulations. 

The Platform was established to make trading more accessible for everyone. No matter where you live or the language you speak. 

eToro started as an all-around trading platform. Since then it has added cryptocurrency and other trading tools to keep up with the demand of the growing markets. Nowadays, there are over 10 million users that are registered to eToro, making it an industry leader.

eToro Review

eToro’s History

eToro made its leap forward in 2010 with OpenBook, which is the first social trading platform in the world. They included new features such as the copyTrader feature, which allows any user to copy successful traders. 

At 2012 eToro launched their mobile app for IOS and Android, covering new grounds. In the same time, eToro entered the Crypto trading market and made it possible to Trade Bitcoin through CFDs. Later at mid 2013, eToro added stocks to its list of tradable assets, which then included currencies and commodities. 

At the beginning of 2015, eToro upgraded its user interface for a better trading experience. A year after at 2016 they added CopyPortfolios, which is comprised of various assets or top traders. 

One of the major updates eToro have made came in January of 2017, when they added the ability to trade cryptocurrencies on the platform. It began with the most famous cryptos such as Bitcoin, Ethereum, Litecoin, and Ripple.

eToro official website link

*eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, 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.

Why should I Chose eToro Over Other Platforms?

eToro has an uncomplicated user interface in their web and mobile platforms.‘It has many different features such as social trading that let you copy other traders and CopyPortfolios that allows thematic investing. The app has fees like any other trading software, but one thing is for sure, their pricing is very market competitive. 

Another small bonus is the process of opening an account, funding it and withdrawing money. It is quick and seamless.

eToro secure registration

Which Cryptocurrencies Does eToro Support?

When comparing to other trading platforms, the options for supported cryptocurrencies on eToro’s platform is a bit limited.

The limited number of cryptocurrencies available is due to the fact the eToro trading platform supports trading stocks, CFD’s, other currencies, and commodities. Even so, you could trade on eToro cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, and Ripple. There are 15 different Cryptocurrencies that are available to trade in total. 

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*eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, 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.

eToro system
eToro social trading makes things much easier.

Keep reading for a more detailed eToro review.

Users:

eToro has over 10 million users that are investing from little over 140 countries. It is a global financial service provider that works and operates with two different legal entities, therefore one must question themselves: is eToro a safe platform to trade in?

In the United Kingdom citizens can choose from an option to open an account at eToro (UK) limited, and by doing that being protected by the FCA. If insolvent, the UK users can expect to be well compensated by the maximum amount of £50,000 guaranteed by the Financial Services Compensation Scheme (the “FSCS”).

This regulation can keep the UK citizens well-rested and assured in the security of their trading. 

eToro is regulated by a tier one regulator, the FCA, and also by Cysec and the AISC. However, it is neither listed on a stock exchange nor has a bank parent.”

For European, Non-UK citizens can open their account with eToro (Europe) Limited that is regulated by the Cypriot watchdog, CySEC. Those clients are as well secured, and at eToro Europe branch they will be covered for the amount of a maximum of  €20,000. This threshold is set by the Cypriot Investors Compensation Fund.

The Australian clients belong to eToro Australia which is regulated by AISC, the Australian regulator.

eToro Review

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For more details, check eToro’s description on its regulation and license.

*eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, 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.

eToro Review

Opening an eToro Account:

Opening an eToro account is completely easy and super fast.

Can I open an eToro account?

Investors from all European countries can open an account in eToro. 

It is fair to state that account opening limitations are very thin. However, there are some restraints and technical limitations stated in the Terms and Conditions in the eToro website and App. Unfortunately, if you live in the following countries you will not be able to open an account on eToro:

Canada, Japan, Brazil, Turkey, North-Korea, Iran, Cuba, Sudan, Syria.

There are some platforms that have a variety of countries to sign in with, such as the AvaTrade platform. We wrote an extensive review regarding Avatrade

What is the minimum funding that eToro requires?

The minimus first-time deposit is $200. 

Account types:

eToro provides one account type, we will refer it as a basic eToro account.

You could try the Demo account if you like. You will trade their paper money in the demo account.

Funding my account and Withdrawing from it:

It is simple to deposit money, and there are many funding options that include: debit/credit card, wire transfer, Paypal, Skrill, Neteller, Webmoney. 

Withdrawing money can take a bit more time than funding your account. But one thing is for sure, you will receive your money. 

“Withdrawing money can take a bit more time than funding your account. But one thing is for sure, you will receive your money. “

We have received the withdrawal money in 5 business days. It is important to say that E-wallets withdrawal takes up to 2 business days and we used the credit card option that can take up to 8 business days. 

You can withdraw your money in different options at eToro: Withdrawing through your credit card, Paypal, E-wallet,  and doing a Bank transfer. 

eToro needs to have all the required information for withdrawing your funds such as bank account and credit card information. Notice that there is a 50 USD minimum withdrawal amount. There are eToro withdrawal fees as well, which is a flat fee of 5 USD. It is implemented for each withdrawal transaction.

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*eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, 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.

 

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

etoro platform review

eToro’s Review –  Verdict

When taking into account the many pros eToro has, the vast amounts of options it allows its users to trade, and the useful tools it offers, we definitely recommend trying out eToro.

After testing many different trading platforms, we could stay that compared to others, the user interface, simplicity to make traders, and great customer support makes it one of the best trading platforms today. A major plus is the social trading option. You can actually copy high successive portfolios from trading experts.

This option is fantastic for beginners and for traders who have lots of experience and want to diversify their trading portfolio.

eToro official website link

The eToro has a lot of innovative features, and the account opening is super fast and easy. It’s trading fees are competitive..  In addition, withdrawing and depositing money is easy.

To sum up, we would recommend the eToro trading platform and we will keep using it. 

We Rate it 4.5 stars out of 5

eToro Rating

There are many FAKE links out there. Join the eToro Platform only from this secure link >> Secure eToro trading platform

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, 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 which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.