eToro Exchange Review

Standout Features of eToro

Copy Trading

eToro’s Copytrader program allows users to copy the actions of other successful traders at no extra cost and with no hidden fees. You simply select the trader you wish to copy, with a minimum investment of $200. Whenever the trader you choose to copy makes a trade, your account will execute the same trade seconds later, keeping your portfolio at the same ratios as the professionals. Copy trading is a great way to invest in a hands-off manner, as all the trades are executed automatically on your behalf. 

If you’re already a successful trader, you can join the popular investor program and earn percentages of the trades copied from your portfolio. Popular investors can earn 1.5% in annual payments of assets under copy, paid out monthly.

eToro Portfolios

eToro Portfolios (Smart Portfolios) are investment portfolios that bundle together a collection of financial assets that are either part of the same theme or investment strategy. Any eToro user can gain access to these portfolios by investing a minimum of $500, with the portfolios having a fairly good history of positive returns. 

eToro Money

eToro Money is an e-money account that you can manage from the eToro mobile app. It allows you to make instant, no-fee deposits with 0% conversion fees to your eToro investment account, instant withdrawals, and integration with IBAN, SEPA, and Faster Payments.

There is also a Visa debit card that comes with the eToro money account, allowing you to spend your eToro balance anywhere Visa is accepted. 

Where eToro Can Improve

eToro is a well-rounded platform with opportunities for both traditional and cryptocurrency investing available to its users. The main area in which eToro can improve is by expanding its platform access to other countries like Canada, as this would open up another market for them. 

Previously, eToro didn’t allow cryptocurrency withdrawals, but that has changed over the past few years, as eToro has continued to improve its service to the crypto sector of its clientele.

Their staking program taking a large cut of your return isn’t in line with most other platforms, and this should be something they should look to change. You can easily stake the assets they support yourself and avoid the commission they’re charging for the service. 

What Cryptocurrencies Can You Buy?

While eToro does not offer a wide variety of cryptocurrencies for trade, most of the biggest names in the cryptocurrency market can be found on this platform. These include:

• Bitcoin
• Ethereum
• Bitcoin Cash
• Ripple
• Dash
• Litecoin
• Ethereum Classic
• Cardano
• IOTA
• Stellar
• EOS
• NEO
• Tron
• Zcash
• Tezos

You’ll also have access to numerous tools from eToro for tracking crypto prices.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

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.

eToro Supported Applications

Users of eToro are able to interact with the platform via mobile or desktop devices. The trading platform can be accessed via a web browser, and there are also applications available for Android and iOS.

In addition to the eToro trading app, there is also the multi-asset eToro Wallet, which can be used by traders to gain more functionality with their assets. However, it should be noted that this feature is not available for all crypto assets and it is still a custodial wallet.

Is eToro Safe?

eToro is one of the safest companies in the cryptocurrency space thanks to its compliance with CySEC, FCA and ASIC regulations. All customer funds are held in secure banks and personal information is guarded under SSL encryption. It’s very unlikely you’d lose money on eToro. Many eToro reviews credit the strong security of the platform.

Originally it wasn’t possible to actually withdraw your own crypto from the platform but eToro has made significant upgrades in that department with its eToro Money wallet that allows users to withdraw crypto.

CryptoVantage generally recommends securing large amounts of crypto with a personal wallet to avoid any potential issues with exchanges.

eToro Customer Service

eToro boasts strong customer service thanks to its long history in the trading business.

You’ll find a comprehensive help center that should assist with a variety of topics in addition to the ability to post support tickets. Unfortunately eToro doesn’t currently offer phone support but that’s fairly typical of most crypto trading platforms.

High-volume traders ($5,000+ per month) get the benefit of an account manager upon request.

eToro Fees

The fees charged to eToro users can be difficult to fully understand. There are a variety of different fees associated with the platform, and different cryptocurrencies come with different fees when making trades.

While there are no fees on deposits, there is a flat $5 fee added to every withdrawal. The minimum withdrawal amount is $30. There are also fees added to deposits and withdrawals if a currency conversion must be made to process the payment. Additionally, eToro charges flat fees for cryptocurrencies that are withdrawn to the eToro Wallet.

The fees charged on your cryptocurrency trading are extremely simple: eToro charges a single, simple, and transparent fee of 1% for buying or selling crypto.

Finally, it should be noted that eToro charges a $10 monthly inactivity fee for accounts that have not been logged into for 12 months.

Does eToro Offer Forex, CFDs?

eToro offers both Forex (Foreign exchange) and CFDs (Contract for Difference) trading although it should be noted that neither product is available to US customers.

What is eToro Forex? Forex simply refers to an overall market where people can buy and sell international currency. It’s particularly attractive to customers who might not have access to traditional equities and have relatively small amounts of capital.

Meanwhile CFDs are essentially a way for investors to make bets on whether the price of an equity or asset will rise or fall. It lets users get exposure to certain assets without actually holding them. It can be more flexible (and accessible) than traditional commodities, securities or futures.

How to Trade Forex on eToro

Taking advantage of the Forex markets available on eToro is really quite simple. If you’re in a jurisdiction that allows it than you’ll have access with your most basic eToro account.

Some of the most common currency parings on eToro include:

• EUR/USD
• USD/JPY
• EUR/GBP
• USD/CAD

Keep in mind that Forex trading can be risky (especially if you’re using leverage) so be careful. There’s a lot less information about Forex trading compared to traditional stock trading so that’s another reason to be cautious.

History of eToro

eToro was founded way back in 2007 in Tel Aviv by brothers Ronen Assia, Yoni Assia in addition to businessman David Ring. Assia remains the CEO to this day.

The platform was revolutionary in its approach to stock trading thanks to its CopyTrader feature that allowed retail investors follow successful traders. Over the years eToro generated over $162 million in early funding.

In 2014 eToro added cryptocurrency to its platform, making it one of the earlier adopters of cryptocurrency on the institutional side.

In 2022 eToro famously aired an ad during the Super Bowl (nicknamed the “Crypto Bowl” due to the number of crypto advertisements) that featured Shiba Inu Coin and Bored Ape Yacht Club.

The company has grown to operate in 140+ countries with offices in the United States, Cyprus, Australia and the United Kingdom. Its central headquarters remains in central Israel. eToro is especially popular in Europe as well as many Latin American countries such as Brazil.

Final Verdict on eToro

eToro is a great all-round platform for investors looking for a balance between crypto and traditional market investment opportunities. The platform offers a variety of features to allow users to be successful traders, while also providing convenient ways to access and use funds held on the platform thanks to the eToro Money account. Though their staking program could be expanded, eToro’s crypto selection provides just about every asset you might be looking to buy.

eToro Disclaimer

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 two minutes to learn more.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

eToro is a multi-asset platform which offers both investing in traditional assets and crypto assets, 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. {etoroCFDrisk}% 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.

Copy Trading does not amount to investment advice. Your investments value may go up or down. Your capital is at risk. Other fees apply.

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.