eToro promotes itself as a social trading platform with measures in place to limit your risks while you’re investing. This exchange, based in Tel Avis, Israel, gives its users a place to learn how to invest smarter. It does this by automatically imitating the highest ranking traders in the eToro community. Additionally, as you rise in ranking on the platform, you’ll have the ability to earn extra money. You can do this by sharing insights about how you trade and help others improve their performance on the exchange.
eToro has been around for over ten years now, and have over six million traders registered on its platform. The exchange has entities which reside in Cyprus and the U.K., as well as a tie-up with the IC Markets in Australia. The CySEC regulates eToro in Europe, which is authorized by the FCA, which resides in the U.K. and is an NFA registered member in the United States. eToro works with the top regulators in Europe and follows all rules and regulations. With eToro, you’ll get complete confidentiality and privacy when you use the exchange.
Below is our eToro review.
- 📈 Avaliable Cryptos: BTC, ETH, XRP, LTC, BCH, XLM
- 💳 Deposit Methods: Credit / Debit card, Neteller, Skrill, Wire Transfer & More
- 💲 Accepted Currencies: GBP & USD
- 🎧 Support: Email, Facebook & eToro Friends
- 💰 Fees: Daily fees
Should You Use eToro?
If you’re interested in trading using eToro, you should take a moment to determine whether or not the exchange makes sense for you. eToro is great for novice investors, those familiar with social network investing, and for users who want an easy-to-use and intuitive option. Investing is simple using eToro as the site provides three ways to trade:
- Copy trading – This is using your funds to mimic the trades of professional traders you’re following on the site
- Retail trading – Manually trade assets, stocks, and commodities and manage your own portfolio on the eToro exchange
- CopyPorfolio – Trading with copyportfolio is thematic investing using the most sustainable and best-performing traders on eToro.
For those new to investing, eToro offers a free demo account when you signup. This is the perfect tool for learning more about the platform without having to invest your own money. Additionally, eToro offers a wide variety of tools for traders and has an easy-to-use interface. These features and more make the exchange worth considering.
Available Asset Classes
The eToro platform offers the following asset classes:
- Cryptocurrencies: BTC, ETH, BCH, XRP, Dash, LTC, ETC, ADA, IOTA, XLM, EOS, NEO, ZEC, BNB.
You won’t encounter any trading fees with eToro. It generates its income through overnight fees and high spreads. Your minimum first deposit will depend on where you live. You’ll need to deposit between $50 and $1000 based on where you reside. eToro does, however, offer up to $200 if you refer friends to join the platform.
You’ll get a suite of investment tools and solutions when using eToro. The exchange is available online or on iOS and Android phones, depending on what you prefer. Like many other exchanges, there is no eToro desktop platform. When you’re using the eToro platform you can watch markets, perform trades, view your portfolio, or view a news feed. eToro also offers its patented CopyTrader option, which lets you automatically copy other traders so you can mimic their trading portfolio.
Something about eToro that a lot of people may not be aware of is the trading courses the platform offers. You can watch videos to learn how to take your investing and trading to a whole new level. The courses offered by eToro are designed to assistant all traders, regardless of level. From novice to veteran, the platform tries to provide helpful courses to all its users. Access to the courses become available once you sign up and complete your e-Toro registration. You can learn about things like Types of Orders, Best Strategies, Basic Forex Terms, Global Trading, Analyzing the Market, Technical Analysis, and Capital Management. eToro also offers a blog page which has several recourses for education. Here are just a few of the topics it covers:
- Partner Talk
- Social trading information
- Investment management strategies
- Daily digital currency tracker
- Product updates
- Daily market analysis
- Upcoming trends and economic impact
- eToro team opinion pieces
Easy to Use
eToro as a whole is pretty easy to use, and creating an account is no exception. It’s a seamless and simple process which gets you up and running in no time. The platform asks for your first and last name, requests a username, needs an emails address, as well as a password and telephone number. Once you provide all this information, you’ll need to agree to the conditions, then eToro will send you a verification email. From that point, check your email, follow the link, and you’re good to go. For some countries, eToro also allows you to sign in using either your Facebook or Gmail accounts. After creating your account, eToro will want you to complete your profile. You do this by providing additional personal information like your address, income source, how much trading experience you have, why you want to trade, and how you feel about risk. During this process, eToro will also set up two-factor authentication, which adds an additional level of security to your account. Additionally, if you’re in the United States, you’ll need to provide your social security number and a picture of your driver’s license to validate your identity. eToro offers several options when it comes to depositing money into your account. Once your identity is verified, you can use PayPal, WebMoney, WireTransfer, credit cards, and debit cards. Of course, your available methods of deposit depend on where you live. Read our dedicated guide on how to trade on eToro to get started on the platform.
On the eToro site, you’ll find a page dedicated specifically to customer support. You can contact eToro by filling out the provided form, which creates a ticket for your issue. To get to the customer support page, just click on the “Help” icon located on the left side of the page. You’ll see a “Customer Service” option listed under “Help and Education.” eToro also offers a Help Center, where you can enter a question into the search bar and get related results. This feature comes in handy if your problem doesn’t require logging a ticket, but you can’t quite figure out where to go next.
- Fully regulated
- Trade 14 of the most popular cryptos
- Deposit using credit card, debit card, Skrill or Neteller
- Copy some of the most successful traders in the crypto markets
Join Over 6 Million Traders On eToro Today!
Not sure how to trade crypto on eToro? Our step-by-step eToro trading guide shows you how.
eToro is on the front of the lines when it comes to social investing and providing convenience through mobile and web platforms. The exchange provides an easy to use interface along with educational resources for those looking to gain better insight into how to trade. With its CopyPortolio and CopyPeople features, eToro is setting itself apart from other cryptocurrency exchange. The idea of following those who are successful traders is an appealing aspect and makes it easy for new users to get into cryptocurrency. It would be nice if the exchange offered more than just the handful of digital currencies it offers and the spreads for the coins that are available feel a bit high. Overall though, eToro is a solid exchange for learning how to trade and invest in cryptocurrency. In our opinion, the eToro exchange is a solid and reliable CFD broker.