eToro Review

Reviewed broker: eToro Social Trading Network

Established in 2007

Location: Cyprus

Regulation: 

UK

eToro (UK) Ltd, is authorised and regulated by the Financial Conduct Authority (“FCA”). Firm Reference Number: 583263. Registered in England under Company No. 07973792. Registered Office:  24th floor, One Canada Square, Canary Wharf, London E14 5AB

eToro (UK) Ltd is registered with the Financial Conduct Authority to offer cryptocurrency services under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

eToro Money UK Ltd, is authorised and regulated by the Financial Conduct Authority for the provision of electronic money and payment services, with Firm Reference Number 900923. Registered in England & Wales under Company No. 07712717. Registered Office: Maclaren 3b – Lancastrian Office Centre Talbot Road, Stretford, Manchester, M32 0FP, England.

Europe

eToro (Europe) Ltd, is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under licence number 109/10. Registered in Cyprus under Company No. HE 200585.  Registered Office: 4 Profiti Ilia Str., Kanika Business Centre, 7th floor, Germasogeia, 4046, Limassol, Cyprus

eToro (Europe) Ltd is listed in De Nederlandsche Bank N.V. (“DNB”) public register as a crypto service provider. DNB supervises the compliance of eToro (Europe) Ltd with the Anti-Money Laundering and Anti-Terrorist Financing Act and the Sanctions Act 1977. The crypto services of eToro (Europe) Ltd are not subject to prudential supervision by DNB or conduct supervision by the AFM. This means that financial operational risks in respect of the crypto services are not monitored and there is no specific financial consumer protection.

eToro (Europe) Ltd is also registered with the French Financial Markets Authority (the Autorite des Marches Financiers – “AMF”) as digital assets services provider (“DASP”) for the provision of the service of custody of digital assets on behalf of clients and (ii) the service of buying or selling digital assets for legal tender.

The Italian branch of eToro (Europe) Ltd was enrolled, by the Organismo Agenti e Mediatori (“OAM”), in the Italian Registry for providers of crypto/digital wallets services.

eToro Money Malta Ltd is authorised and regulated by the Malta Financial Services Authority (“MFSA”) for the provision of electronic money and payment services. Registered in Malta under Company No. C97952. Registered Office: 52, St. Christopher Street, 1462, Valeta

Australia

eToro AUS Capital Limited(“eToro Australia”) is regulated by the Australian Securities & Investments Commission (“ASIC”) for the provision of financial services and products. Australian Financial Services Licence number: 491139. Registered Office: Level 3, 60 Castlereagh Street, Sydney NSW 2000, Australia

Gleneagle Asset Management Ltd (“GAML”), is licensed to act as a Responsible Entity under Chapter 5C of the Corporation Act 2001.  The registered scheme (eToro Service) ARSN 637 489 466 is operated by GAML and promoted by eToro Australia. Registered Office: Level 3, 60 Castlereagh Street, Sydney NSW 2000, Australia. When executing transactions, GAML will use another executing broker, including eToro Europe or a non-affiliated third party.

Seychelles

eToro (Seychelles) Ltd. is licenced by the Financial Services Authority Seychelles (“FSAS”) to provide broker-dealer services under the Securities Act 2007 License number: SD076

Registered Office:  eToro Suites, S45 2nd Floor, Espace Building, Victoria, Seychelles, is licensed to deal in securities either as an agent or principal.

USA

eToro USA LLC is a registered Money Services Business (“MSB“) with the Financial Crimes Enforcement Network (FinCEN) in the United States (registered number: 31000204884179)  and holds Money Transmitter Licenses (“MTLs“) in the States where applicable. eToro USA offers a platform for US customers to buy and sell cryptocurrency. Registered Office and principal place of business: 221 River St., 9th Floor, Hoboken NJ 07030

eToro USA Securities Inc. is a broker-dealer registered with the U.S. Security and Exchange Commission. License no USA Securities Inc is a member of FINRA and SImber SEC#: 8-70212,/ CDR# 298361, SEC CIK #0001753042.

Registered Office and principal place of business: 221 River St., 9th Floor, Hoboken NJ 07030

Gibraltar

The wallet is provided by eToro X Limited (“eToroX”), a limited liability company incorporated in Gibraltar.

eToroX is authorised and regulated by the Gibraltar Financial Services Commission as a distributed ledger technology provider, with Financial Services Commission licence No. 1333B. Registered in Gibraltar under Company No. 116348. Registered Office: 57/63 Line Wall Road, Gibraltar.

USA Traders: allowed at eToro USA

eToro Account Types and Trading Conditions

Trade & Invest in top cryptocurrencies, ETFs and thousands of stocks. Trade currency pairs, Indices and Commodities via CFDs. Investing in the financial markets has never been easier.

Maximum leverage: 1:30; 1:1 for Crypto Currencies

Mini account: no

Spreads start from 2 pips

Demo account: yes (fueled with $100,000 USD of virtual money)

Segregated account for client funds: yes

Islamic swap-free accounts: yes

Social trading: yes

Spread types: variable

Stop loss/ limit orders: yes

Hedging: allowed

Automated trading: yes

Trade with confidence on the world’s leading social trading network

Join millions who’ve already discovered smarter investing by automatically copying the leading traders in our community, or get copied yourself to earn a second income. Connect with other traders, discuss trading strategies, and use our patented CopyTrader™ technology to automatically copy their trading portfolio performance.

eToro Review : Platform, Social Trading 

eToro is the world’s leading social trading platform, trusted by millions of users from more than 140 countries. The eToro platform and app offer a variety of financial assets in which to trade and invest.

• 2,000+ assets
• Low and transparent fees
• Features for novices and experts
• Wisdom of the crowd via social trading
• Ready-made CopyPortfolios™
• Intuitive, easy-to-use platforms

eToro offers 2,000+ financial instruments across various classes, such as stocks, crypto and more. 

eToro’s aims to open up markets to everyone, with an easy-to-use, intuitive interface. To help clients better manage their finances, it developed innovative trading features:

VIRTUAL PORTFOLIO

Upon opening an account with eToro, each user receives a free $100,000 demo account. Using their account, eToro clients can build a virtual portfolio to practice and experiment with.

TIPRANKS RESEARCH TAB

Gain insights from leading analysts in one place, as the Research Tab aggregates the cumulative knowledge of investors and experts from some of the world’s leading financial institutions.

ONE-CLICK TRADING

Operating under the realisation that many of its clients often repeat their trading habits, opening the same positions for the same instruments at different times, eToro introduced this feature. One-Click Trading enables clients to open a new position, using ready-made parameters, with a single click.

STOP LOSS AND TAKE PROFIT

To help clients better manage their positions, protect their investments and secure their profits, eToro enables them to set predetermined price points for closing an open position. Stop Loss closes the position if it reaches a certain loss, while Take Profit offers the same feature for securing profits at a predetermined price point.

TRAILING STOP LOSS

This feature is an expansion of the Stop Loss feature, enabling clients to keep a position open, as long as the markets are moving in the direction that benefits their trade.

PROCHARTS

A professional-grade technical analysis tool, ProCharts enables you to compare charts from different financial instruments and/or different time frames.

OFFLINE TRADING

Since trading is often a 24/7 business, eToro allows specific trading and investing orders to be placed, even if the platform is down for maintenance.

Social trading

Since 2010, eToro has placed a growing focus on social trading, harnessing the wisdom of the crowd for the benefit of its clients. One of eToro’s key differentiators is the fact that it created a community of traders and investors, in contrast to the often solitary feeling of trading online. eToro is a bustling online social network of traders who interact, discuss ideas and share their trading decisions and strategies on the social news feed.

CopyTrader

CopyTrader, enables traders to replicate other traders’ actions in real time. To encourage top traders to get copied, eToro created the Popular Investor program.

CopyPortfolios

Another unique product offered by eToro is CopyPortfolios, which are ready-made, investment strategies, offering thematic investment, such as medical cannabis, driverless cars, and people-based portfolios.

Live feeds of trading activities: yes

Follow specific traders activity: allowed

Copy other traders: yes 

eToro Forex Learning Material and Latest Promotions

Educational material: tutorials, webinars, online videos, blog, market analysis

Customer support: email, phone, online chat are here to answer any question. The customer service team is available 24/5, so you’ll have professional assistance whenever you need it. Additionally, there is also exclusive trader programs and frequent financial news updates.

Innovations from eToro 

Since 2007, eToro has been at the forefront of the fintech revolution:

• 2007 – The launch of the eToro platform: Disrupting the traditional world of investment by making it available online to anyone around the world.
• 2009 – WebTrader: An intuitive trading platform with professional tools for both beginner and advanced traders.
• 2011 – OpenBook: The world’s first social trading platform. Enabling anyone to join the fintech revolution by copying other successful traders. The platform attracted global attention, winning Best of Show 2011 at Finovate Europe.
• 2012 – Introducing stocks: Alongside commodities, currencies and other assets on eToro, a wide selection of stocks were added, enabling traders to diversify their portfolios even further and invest in the global stock market.
• 2013 – Mobile app: Every feature on the eToro platform made available to clients everywhere they go, through their Apple or Android smartphones and tablets.
• 2015 – The new eToro: Integrating both online trading and social trading into one intuitive and innovative interface.
• 2016 – Introducing CopyFunds: A brand new long-term thematic investment product. CopyFunds are managed portfolios that bundle top traders or various assets under a predetermined strategy. CopyFunds are driven by powerful machine-learning engines which aim to generate a maximum return at any given time.
• 2017 – CopyFunds powered by Machine learning AI: Further developing CopyFunds, eToro integrated Microsoft’s machine learning technology into the MomentumDD The new CopyFund uses artificial intelligence to find the steadiest traders who are most likely to generate a double-digit return and bundle them into one fully managed portfolio.
• 2018 – US cryptocurrency trading platform. eToro begins Phase 1 of servicing the US market. Bringing US clients our unique offering in cryptocurrencies is only the beginning! Stay tuned for more to come…

eToro Payment Options

Minimum deposit requirement: $200

Payment methods: credit cards, Paypal, Skrill, Neteller, unionpay china, webmoney, yandex, Bitcoin

How was the rating of eToro performed compared to other brokers? 

This 2023 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on eToro FX broker performance and features. 

Overall our online eToro review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online broker eToro or you find inaccurate details eToro broker review please get in touch with us and the changes will be applied. 

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. 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.