eToro Review

eToro Review

Last Updated : Friday 14th August 2020

Written By Tim BaudinForex Trading Instructor

eToro Review

www.etoro.com

Regulation :  CySEC, FCA and ASIC

Accepts US Clients: Yes

Min. Deposit : $200

Leverage : 30:1

Platforms : eToro Platform

We Like

  • Access to world’s largest social investment network
  • Copying other forex trading experts with CopyTrader

We Don’t Like

  • No desktop trading platform
  • Scalping not allowed

The Verdict :

Traders can trade with this outstanding social investment network. This is a very useful social trading platform for beginner Forex traders as they can learn and follow expert trader’s trading strategies.

eToro is a highly recommended social trading network, especially for beginner Forex traders and investors.

Visit eToro Official Site >>

65% of retail investor accounts lose money when trading CFDs with this providerYou should consider whether you can afford to take the high risk of losing your money.

  • Expert Opinion
  • User reviews
  • Specifications

eToro is a Cyprus based social trading network founded in 2007. Their headquarters is situated in Limassol, Cyprus. They are regulated by CySEC, FCA and ASIC . This is a rapidly growing global marketplace where traders can trade in currencies, commodities, indices, and stocks.

They have an enormous social trading community with 8 million users in more than 140 countries worldwide. They have introduced the world’s first social investment network named eToro OpenBook.

Trading Platforms:

eToro has built themselves as world’s best forex network for social trading, and their platforms are designed for this social forex trading.

Main Features:

eToro requires a minimum initial deposit of $200 which is flexible and suitable for most of the beginner forex investors. They provide a leverage ratio as high as 1:30 which is another attractive feature of this broker. eToro is a transparent broker with responsible trading policy.

Traders can find out successful traders and trading strategies as these are open information for eToro clients. Premium account holders can access to the e – signal. Stop losses and other trading orders get instant execution as there is minimum slippage. eToro platform is particularly useful for social trading. Here, traders can learn and follow the trading and trading strategies of experienced traders

Commissions and Spreads:

eToro does not charge any commission for trading in the forex market. eToro charge tight spreads for their clients and their spread is as low as 2 pips. Another advantage of this platform is they do not charge rollover fees for holding an overnight position. They charge a very small amount for holding positions for a week.

What We Liked:

eToro Trading Academy: The eToro Trading Academy is full of forex market and trading resources. This section has been developed to help traders to enrich their forex trading knowledge. This trading academy section consists of Live Webinars, course, eToropedia and Trading Videos.

What We Disliked:

No Desktop Trading platform: eToro is not providing any downloadable desktop trading platform. Desktop trading platforms like MetaTrader 4 is more stable and reliable trading platforms than web based trading platforms.

Scalping is not allowed: Scalping is not allowed in eToro broker. Scalping is a popular method of short term trading. Due to the absence of scalping opportunity, scalpers have to stay away from this broker.

The Bottom Line:

There is not perfect trading platform in the world. Different platforms meets different criteria. Thus, traders should look for their own requirements. Except some minor limitations, eToro has many advantages that attract more and more traders to their social trading platform eToro Openbook. eToro is a highly recommended forex trading network, especially for beginner forex investors.

I trade with eToro for 2 months and I like it. I got fast support when I had a question about the graphs

Portion of actual user comment on About-forex.org

I have an account there, been trading with them for a month or so and cashed out twice. As far as my experience goes, they’re legit.

Portion of actual user comment on Forextopten.com

I’ve been trading with etoro for almost a year and only had a few minor problems which were always fixed promptly. The first time I withdrawn money it took longer, but afterwards withdrawals were quick. eToro is a great platform and I highly recommend it to all traders…

Portion of actual user comment on Forexfl.com

“…Also, it works unceasingly, and it runs expeditiously fast. This eToro is very great! Excellent. We all liked it. It’s pleasant, fast and exact…

Portion of actual user comment on Forexfinder.com

Platform:
Trading PlatformseToro Platform
OS CompatibilityMac, Microsoft Windows, Mobile, Web, iPhone, Android.
Mobile TradingYes
Web Based TradingYes
Platform LanguagesEnglish, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, Swedish, Finnish
Addition ServicesSocial trading, Streaming news feed, Charting package, Market commentary, Copy Trade
Other Tradable InstrumentsMetals, Oil, Gold, indices, Commodities.
HedgingYes
ScalpingNo
Trailing StopYes
One Click TradingYes
Automated TradingNo
OCO OrdersYes
Account Details :
Max Leverage1:30
Min. Initial Deposit$200
CommissionsNo
Typical Spread (Majors)EUR/USD – 3
Deposit OptionsCredit Card, Debit Card, Wire Transfer, Moneybookers, Paypal, Webmoney, Moneygram, Western Union, Neteller.
Withdrawal OptionsCredit Card, Wire Transfer, Moneybookers, Paypal, Webmoney, Neteller, Moneygram, Western Union
Demo AccountYes
Account TypesBronze, Silver, Gold, VIP
Number of pairs offered16
Dealing DeskNo, STP
Additional FeaturesLive Webinars, eCourse, eToropedia, Trading Videos, Social Trading, and Trading Tips.
Bonus and Promotion:
No Deposit BonusNA
First Deposit BonusNA
Other Promotional OffersRefer a Friend, Social Guru Program
Company Information :
Headquarter InLimassol, Cyprus
Established Year2007
Regulating AuthorityCySEC, FCA and ASIC
Websitewww.etoro.com
US Clients AcceptedYes
Customer Support LanguagesEnglish, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, Swedish, Finnish, Multi-lingual.
Support byLive chat, Telephone, Fax and Email

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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.

Highly volatile investment product. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance is not an indication of future results. The content is intended for educational purposes only and should not be considered as an investment advice. Your capital is at risk.