Contributor, Benzinga
March 6, 2024
eToro Stocks
Overall Rating:
securely through eToro Stocks's website

eToro is a leading trading and investing platform that’s recognized for its stock and crypto broker services. Its standout feature, copy-trading, allows users to reproduce the trades of other investors on the platform. In addition to stocks and cryptocurrencies, eToro provides Smart Portfolios — diversified portfolios of crypto assets managed by eToro. 

The platform is regulated by regulatory authorities such as the FCA, SEC, ASIC and CySEC, ensuring a level of trust and security for users. While eToro boasts a user-friendly web and mobile platform, it has limited customizability and lean educational and research offerings. Overall, eToro provides a convenient and regulated platform for social trading and investment.

Best For
  • Investors who want to follow and copy other traders
  • Investors who want to trade crypto, stocks and options on the same platform
  • Beginners who want to invest in stocks and ETFs with zero commissions and copy-trading features
Pros
  • Commission-free stocks and ETFs trading
  • Innovative social investing platform with CopyTrader feature
  • Access to a wide range of cryptocurrencies, stocks and ETFs
  • Free virtual trading account and digital wallet
Cons
  • High spreads for buying and selling crypto assets
  • Contracts for difference (CFDs) unavailable inside the U.S.

eToro Stocks Ratings at a Glance

eToro Product Offerings and Features
eToro Commissions and Fees
eToro Usability
eToro Customer Support
eToro Security Measures
eToro Mobile App
eToro Overall Rating

eToro Product Offerings and Features

eToro presents a comprehensive trading solution with abundant features, a user-friendly interface and diverse asset offerings.  

It provides commission-free trading for U.S. stocks and ETFs and competitive forex and CFD trading fees. However, there are non-trading fees, such as withdrawal and conversion fees.

One of eToro's key attractions is its copy-trading functionality, which allows users to replicate the trades of successful investors. This social aspect extends to community engagement through discussions and forums, improving the trading experience. 

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The platform supports trading in diverse assets, including cryptocurrencies, stocks, indices, commodities and options. While crypto trading incurs a 1% fee, eToro offers access to 25 cryptocurrencies. However, CFD trading is unavailable for U.S. residents. You can stake cryptocurrencies and earn rewards.

eToro's user-friendly web and mobile platforms facilitate seamless trading experiences backed by security features like two-step authentication and biometric login options. 

With low minimum trade and deposit amounts, eToro is accessible to all traders. Fractional shares and a lack of commission fees for stock and ETF trades further enhance its low-barrier-to-entry appeal. The platform also offers a free digital wallet for cryptocurrency storage and virtual trading accounts for practice purposes.

eToro Commissions and Fees

eToro charges different fees and commissions depending on the trading activity and service. High spreads may make the platform less suitable for day trading.

  • Trading fees: eToro offers free trading for stocks and ETFs. Forex fees are low and CFD fees are average. All fees are included in the spread, meaning there's no separate commission. For example, the EUR/USD spread is 1.0.
  • Deposit fees: There are no deposit fees with eToro. However, you may face high conversion fees if you deposit in a currency other than USD, like EUR or GBP.
  • Withdrawal fees: eToro charges a $5 withdrawal fee, with a minimum withdrawal amount of $30.
  • Inactivity fees: eToro charges $10 per month after one year of inactivity. Logging into your account counts as an activity.
  • Crypto fees: eToro charges a 1% fee for crypto trading on top of the spread. The spread varies depending on the crypto asset. 

The minimum deposit to start trading with eToro is $200 for most countries, $100 for U.S. and $50 for Australian clients. Some payment methods may have higher minimums, such as $500 for bank transfers.

eToro has a limited-time offer for new users: you get $10 when you deposit $100. This offer is valid until Dec. 31, 2024. To claim it, you must sign up, verify your account, make your first deposit of at least $100 and buy any asset you choose. 

eToro's commission and fees are competitive for stock and ETF trading but less attractive for CFD and crypto trading, earning it a 4 out of 5 rating. 

eToro Usability

eToro is innovative and user-friendly. Users can access trade mirroring, portfolio viewing, advanced charting tools and other helpful features to implement longer-term or day trading strategies. The mobile app for both iOS and Android has received mostly positive reviews.

Signing up for eToro is fast and convenient and the minimum deposit is reasonable. 

User reviews for eToro are somewhat mixed. While some users commend its platform and features, others express dissatisfaction with its customer service, withdrawal processes and technical issues. Trustpilot rates eToro at 4.3 out of 5 based on over 22,507 reviews. 

eToro Customer Support

eToro customers can contact customer service through email, live chat or submitting a support ticket. WhatsApp and phone support are reserved exclusively for eToro Club members with $5,000 or more equity. Some users have expressed dissatisfaction with slow response times or delays in withdrawals.  

eToro Security Measures

eToro employs robust security measures to protect its users' data and transactions. It uses SSL encryption for all communications, safeguarding sensitive information from unauthorized access or interception.

Before users can deposit or withdraw funds, eToro mandates identity and address verification. This measure helps prevent fraud, money laundering and identity theft.

Regulation is another key aspect of eToro's security framework. The platform is regulated by various authorities across different jurisdictions, ensuring compliance with strict standards for customer protection and operational integrity.

To further protect users' funds, eToro keeps them in separate bank accounts and refrains from using them for operational or investment purposes. This segregation ensures that funds remain available and safeguarded, even in cases of insolvency or bankruptcy.

eToro Mobile App

The eToro mobile app allows investors to access the platform on their smartphones or tablets. While it's virtually the same as the desktop version, some notable differences and limitations exist.

For instance, the app lacks advanced features like ProCharts, which allow users to view multiple charts and indicators simultaneously. Also, it offers fewer cryptocurrencies than the desktop platform and transferring crypto to the eToro wallet or other platforms isn't supported.

Despite these drawbacks, the eToro mobile app boasts a user-friendly interface, a diverse range of assets and unique social and copy trading features. It provides solid functionality for investors seeking to manage their portfolios on the go.

eToro vs Competitors

eToro is not the only trading platform with access to various markets and instruments, advanced charting tools and social features. Competitors such as TradingView, thinkorswim and MetaTrader 4 offer similar features. However, they also differ in areas like fees, the selection of assets, applicable regulations and available customer support. 

Here is a comparison table that shows some of the main features and ratings of eToro and its competitors.

  • eToro
    Best For:
    Social Investing
    securely through eToro's website

    Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk

    Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

  • Robinhood Crypto
    Best For:
    Buying & selling Dogecoin
    securely through Robinhood Crypto's website
  • Webull Crypto
    Best For:
    Low Minimums
    securely through Webull Crypto's website
  • Gemini Crypto
    Best For:
    New Investors
    securely through Gemini Crypto's website
  • Coinbase
    Best For:
    Active Crypto Traders
    securely through Coinbase's website

    Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.

eToro Overall Rating

Launched in 2007, eToro is a brokerage that scores 4.5 out of 5 stars for its unique social investing platform, diverse asset selection and low minimum trade amount. One of the key benefits of eToro is its innovative social investing platform, which allows users to copy the trades of successful investors. This feature allows less experienced investors to learn from seasoned professionals and improve their investment strategies.

eToro offers a wide range of cryptocurrencies, stocks and ETFs to trade, along with a free digital wallet for storing cryptocurrencies. The platform's low minimum trade amount of $10 makes it accessible to investors of all levels and the absence of commission fees for stocks and ETF trades is another plus.

However, there are some drawbacks to consider. eToro is unavailable in all U.S. states and doesn't offer direct crypto-to-crypto trading pairs for U.S. users. Generally, users find the platform to be simple and intuitive to use.

For a limited time, you can receive a $10 bonus when you deposit $100 in eToro.

Frequently Asked Questions

Q

Is eToro legit?

A

Yes, eToro is a legitimate platform for trading stocks and crypto. It is regulated by top-tier authorities worldwide, such as the FCA in the U.K. and ASIC in Australia.

 

Q

What is the downside of eToro?

A

The downside to eToro is its high fees for buying or selling crypto assets, poor customer support  and no direct crypto-to-crypto trading pairs for U.S. users.

Q

Is it safe to invest via eToro?

A

It is safe to invest via eToro, as it uses SSL encryption to protect data transfers, verification to prevent fraud and segregation to keep users’ funds separate from their own. Users should also take precautions and be aware of the risks and rules of trading.

 

Disclaimer:

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. 76% of retail investor accounts lose money when trading CFDs with this provider. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. 

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.

“[Affiliate] is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.”

User Reviews

Maya Noelle

How do you use this product to boost your finances?

I almost lost 55k why trading with this scam..but all thanks to Mr Ken who helped me and get all my money back from them.. feel free to contact him at ken296416@gmail.com he will definitely help you

Sue Hank

How do you use this product to boost your finances?

I want to testify about WARDRIVER’S CYBER SERVICE and how I got my hack from them after I lost my job and was bankrupt. I was able to get a blank ATM card worth $95,000.00 which can be used to withdraw money from any ATM machine around the world, it can b

fred

How do you use this product to boost your finances?

I filed an email complaint to FASTFUNDSRECOVERY after this coinbase scammed and i was able to recoup my loss. It was a long journey, too long to fit into one post but i hope other people get help too.

Sarah Welham

How do you use this product to boost your finances?

I could recovered my funds back from a scam broker (WAZIRX) with the help of Kate Donaldson (katedonaldson52@g mail. com) +1 9 1 0 2 1 2 6 5 2 0. Thank you Kate for job well done, now I have more than enough for Christmas.

winston gary

How do you use this product to boost your finances?

My Mom got scammed of all her savings by a Chinese crypto trader she came in contact with on social media account and the scammer went away with all her savings, we involved Aarongabriel310@gmail.com who then help to get back the funds from scammers

TRISHA

How do you use this product to boost your finances?

CONTACT FASTFUNDSRECOVERY AT PROTONMAIL COM FOR RECLAIM FOR LOST FUNDS

reuben

How do you use this product to boost your finances?

“I had a withdrawal issue with them and couldn’t get my funds when i initiated a withdrawal, They ask me to pay 20% upfront fees, I did and they asked for me. It’s not so good if everyone complains about a particular issues and nothing is been done to cor

John G

How do you use this product to boost your finances?

An interesting platform to buy cryptos. Though I prefer coinbase.

Beatriz Devin

How do you use this product to boost your finances?

Hello report any scam issues immediately I also loose my money if you are having any scam issues be fast to report it to this email robertedward752@gmail.com they have helped alot of people both me I know they can still help you out thanks ....

Nancy Juliet

How do you use this product to boost your finances?

I have invested with some scam brokers in the past, and the story is as horrific as the ones i have read because i went through the ordeal myself. I lost almost $80,000 USD to this unfortunate brokers, a friend referred me to Mr Jackson Evans that got me

JESSICA MARIE SWARTS

How do you use this product to boost your finances?

Purchasing crypto and making moolah!!!

Tom Houston

How do you use this product to boost your finances?

As educational

Vanja Hadzic

How do you use this product to boost your finances?

Thanks ...

prakash thombre

How do you use this product to boost your finances?

very poor service but good information and concepts

em

How do you use this product to boost your finances?

biased review. etoro is a scam

But...

Couldn't really see anything about etoro closing markets during volatile times so that a lot of people are losing money. Me included. They also have ridiculous spreads on the trades. The other day the spread for bitcoins was well above $1000 over the sell price. Etoro is quite a shifty broker. But there were not a single bad thing written about the company in your review, making me not believe in what you're saying what so ever.

Fatiha Mebarki

merci

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About Anna Yen

Anna Yen, CFA is an investment writer with over two decades of professional finance and writing experience in roles within JPMorgan and UBS derivatives, asset management, crypto, and Family Money Map. She specializes in writing about investment topics ranging from traditional asset classes and derivatives to alternatives like cryptocurrency and real estate. Her work has been published on sites like Quicken and the crypto exchange Bybit.