Forex broker eToro – review, rating and customer reviews

10.08.2022

Year of foundation

2007

Site

https://www.etoro.com/

Software

WebTrader + OpenBook

Payment systems

Cards Visa, MasterCard, Visa Electron, Maestro, PAYPAL, NETELLER, SKRILL, iDEAL, POLi, Przelewy 24, bank transfer.

Affiliate program

Π”Π°

Rating

  1. General Information
  2. Advantages of the broker
  3. Disadvantages of the broker
  4. Affiliate Program
  5. Trading terms
  6. Commissions
  7. Types of accounts
  8. Bonus program
  9. Teaching materials
  10. Security assurance
  11. Depositing and withdrawing funds
  12. Support service
  13. Personal account overview
  14. Reviews of eToro customers
  15. Contact

Broker eToro has been working on financial markets since 2007. Its client base consists of investors from more than 140 countries. The online broker has several divisions, which operate in different jurisdictions. eToro has licenses of Cypriot (CySEC), British (FCA), Australian (ASIC) financial regulators.

πŸ“ˆ Assets

Stocks, CFD, cryptocurrencies, commodities, Forex

βš–οΈ Leverage

1:30

βž• Affiliate Program

Yes

πŸ’° Minimum deposit

$200

πŸ’³ Account currency

USD

πŸ’Ή Spreads

From 0.1 point

πŸ“Š Brokerage accounts

Standard, demo

🎁 Bonuses

There is for inviting a friend

πŸ“± Mobile platform

Yes

General Information

The main activity of eToro is social trading. The online broker provides favorable conditions both for providers of trading signals and for those who prefer to copy trades of other traders. Users of the copy-trading service can track successful investors with the highest odds of profit.

The client base of eToro has over 6 million investors from all over the world. The broker provides over 2,000 financial market assets that can be traded automatically. You can share your experience with other members of the eToro community.

Home page eToro

Advantages of the broker

  • The possibility of withdrawal of funds in cryptocurrency to the wallet.
  • Trading in automatic mode on the world financial markets.
  • Possibility to buy shares themselves, not CFDs.
  • Club eToro for investors, whose members can share their experiences in investing with each other.

Disadvantages of the broker

  • The broker does not have the popular MT4 and MT5 trading terminals.
  • The support service does not work on weekends.
  • The company charges a withdrawal fee.
  • Investment programs

eToro broker positions itself as an ideal trading platform for copy trading. For followers of social trading, the company provides a unique service CopyTrader. On this platform, investors can copy trades of other traders. The rating of signal providers is formed based on the profitability of their strategies.

Another unique investment product of eToro is CopyPortfolios. This platform offers ready-made trading strategies. The advantages of the service include risk optimization and diversified sets of financial instruments. Traders can copy investment portfolios of other investors and even the largest financial institutions.

Affiliate Program

Clients of eToro have the opportunity to earn passive income through a referral program. The broker's partners can build a one- or multilevel affiliate network. The amount of earnings from the referral program depends on the number of traders attracted. In order to attract new clients, eToro offers partner landing pages, widgets, banners and other promo materials.

Trading terms

The main trading platform of eToro is the joint terminal WebTrader + OpenBook. The broker provides traders with instant execution of orders. When copying transactions, trading operations are conducted instantly. At the same time, traders have the ability to control their actions on the platform for social trading.

Among the available assets on the eToro trading platform, one can choose from stocks, cryptocurrencies, commodities, currency pairs, and ETFs. Leverage can be used to increase potential profits. The leverage ratio at eToro reaches the level of 1:30. The company provides opportunities to hedge risks. You can use protective orders and protection against negative balance.

Commissions

eToro sets non-trading and trading commissions. The former include a withdrawal fee of $5 per order submitted. Trading commissions include spreads, which with eToro start at 0.1 pips. Traders who use the service for social trading also pay a percentage to investors whose trades they copy.

Types of accounts

Forex broker eToro provides clients with 2 types of accounts: standard and demo. To find out the trading conditions of the company's main rate, you need to register on its official website. The minimum deposit on the standard account is $200.

A demo account can be opened after registering on the broker's website. Traders are provided with virtual money to test eToro's trading conditions. When using a demo account, it is not necessary to fund a real account.

Bonus program

eToro does not encourage active investors in the form of contests and tournaments. The online broker offers bonuses only for attracting new clients. Every trader can refer a friend and get $30 for each referral. The remuneration is accrued only after an invited trader gets verified and deposits $200 or more into his trading account.

Teaching materials

On the official website of eToro, the broker provides free training materials that can be used even by unregistered traders. Investors have access to articles and videos with detailed instructions on trading in financial markets. The company also regularly publishes forecasts and reviews from professional investors and analysts.

Forex broker eToro is focused on social trading, so there is no separate section on the company's website with analytical tools. Advocates of independent trading can use news and analytics from experts to make their own asset price forecasts.

Security assurance

The eToro organization is geographically divided into several branches, each of which operates in different jurisdictions. The company's branches serve traders registered in European, Australian and American regions. In addition, a separate subdivision is registered in the Seychelles. Different jurisdictions have different financial regulators controlling the broker's activity.

The European division of eToro has a compensation fund of 20,000 euros. This money is intended to compensate investors in case of bankruptcy of the broker. The assets of the company's clients are kept in segregated accounts separate from eToro's capital. The online broker does not use investor funds in its operating activities.

Depositing and withdrawing funds

eToro offers several ways to deposit and withdraw funds. You can use transfers via bank, credit/debit cards Visa, MasterCard, Visa Electron and Maestro. The broker's clients can make transactions via PAYPAL, NETELLER, SKRILL, iDEAL, POLi, Przelewy 24.

As a rule at eToro the funds withdrawal is carried out to the same card or payment system which was used for deposit. The broker allows you to specify an alternative method of withdrawal. This option will be used when, for technical reasons, the company will not be able to withdraw funds by the method that was used to make a deposit.

Withdrawal of funds is carried out after the trader submits a request in the personal cabinet. The minimum amount of withdrawal transaction from the trading account is $30. Only investors who have verified their account can conduct financial transactions with the eToro broker.

Support service

Technical support department of eToro is working 24 hours a day, 5 days a week. You can contact the manager via Live Chat. Registered traders have the opportunity to send a request to the Forex broker's help center by email. There is no publicly available phone number and e-mail on the company website, which can be used to contact the manager.

registration

Personal account overview

To log in to your personal trader's account, you need to register on the broker's website. At the first stage of authorization you need to leave your full name and contact information. Then the manager will give you the information to enter the personal account. In the trader's account you need to be verified by sending copies of your identification documents.Β 

The eToro Personal Office displays the history of financial transactions and the balance of the trading account. Investors have access to a newsfeed and statistics on their investment portfolio. The trader's personal account also contains information on affiliate payouts.

Reviews of eToro customers

We have studied customer reviews about eToro on the company's website and independent review platforms. Traders consider the ability to copy trades of experienced investors to be the main advantage of the broker. Clients also consider a large selection of assets and the availability of a service with ready-made trading strategies to be pluses of eToro. Among the disadvantages of the online broker, traders noted the lack of popular Metatrader 4 and Metatrader 5 terminals, as well as periodic failures in the trading platform.

Contact

Live Chat

On the eToro websiteΒ 

Social media

https://www.facebook.com/eToro, https://twitter.com/etoro, https://www.instagram.com/etoro_official/, https://www.youtube.com/user/etoro

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