eToro is a leading social trading platform offering flexible methods for investing in a wide range of assets and copying other traders. The eToro multi-asset platform is very intuitive and user-friendly with a vast collection of analytical tools to assist traders of all experience levels with investing in stocks and cryptocurrencies, as well as trading CFD assets. The broker supports quick and easy funding through a variety of methods and are regulated in multiple jurisdictions around the globe.
eToro Review, Pros & Cons
- Strict regulation
- Segregated client funds
- 0% commission free trading
- Ability to buy fractional shares
- Large online trading community
- CopyTrader™ technology
- Popular Investor Program
- Free access to TipRanks expert stock analysis
- Receive notifications on volatility and market events
- Islamic accounts
- eToro club
- No US clients
- No live chat support
- No MetaTrader platforms
- No scalping or hedging allowed
- $10 inactivity fee after 12 months
In this detailed eToro review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
eToro is the leading global social trading platform with millions of traders and investors from over 140 countries copying and sharing signals from within its vast online community. Clients can invest and trade in Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, ETFs & CFDs. There have been hundreds of millions of trades opened through the eToro platform.
eToro Europe Ltd. and eToro UK Ltd offer zero commission on a large selection of stocks with no limits on trading volume, no additional mark-ups and no ticketing or management fees. This effectively means that clients can invest in stocks with no broker fee charged when opening or closing a position. It should be noted that zero commission is not applicable to short or leveraged stock trades.
The eToro community lets you connect with other traders, to view, compare and discuss trading strategies. The patented CopyTrader™ technology allows you to automatically copy trades from another trader’s portfolio, creating your own bespoke portfolio according to your own requirements. In addition to copying other traders, you can also place and manage your own trades which can also be offered to other traders for them to copy.
eToro have a “Popular Investor Program” that recognises talented, savvy and responsible traders who have unique investment strategies. The top-tier Popular Investors can earn a second income up to 2% annually on their assets under management by being followed and copied by other users on the eToro platform.
eToro client feedback is very positive with users praising the trading services and platform offered. The ease of use, range of markets and social community are some of frequently praised aspects.
The national British daily broadsheet newspaper The Daily Telegraph sums social trading up nicely by stating “Those with less expertise might like to try a platform called eToro, which allows customers to copy “star traders” directly”. Bloomberg elaborates on the increasing popularity of social trading, stating “Internet social networks that let users follow investments the way they track status updates on Facebook are attracting record interest, turning top performers into market stars for individual investors”.
Founded in Israel in 2006 by 3 entrepreneurs, eToro’s primary mission is to make the financial markets accessible to everyone, anywhere. They want to make trading and investing for everyone simple and transparent, reducing the dependency on traditional financial institutions. They have an array of innovative trading and investment tools to help them achieve this.
The eToro club offers an array of exclusive benefits, services, and tools to customers according to membership tier. This includes a dedicated account manager, market analysis, live webinars, expert investment support, premium trading tools, exclusive VIP events and more. eToro Club membership is determined according to the clients equity. Provided that you meet the equity requirement, you will be automatically accepted.
- Silver: $5,000
- Gold: $10,000
- Platinum: $25,000
- Platinum+: $50,000
- Diamond: $250,000
eToro is fully regulated in multiple jurisdictions, therefore they must adhere to the strict guidelines of some of the most respected financial service regulators, CySEC, FCA and ASIC. This strict regulation helps to ensure traders that they are using a trustworthy, honest and transparent broker.
eToro (Europe) Ltd. is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) with license # 109/10.
eToro (UK) Ltd is authorised and regulated by the Financial Conduct Authority (FCA) with license FRN 583263.
eToro AUS Capital Pty Ltd. is authorised by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License (AFSL) 491139.
eToro take all of the necessary precautions to ensure that client funds are secured and protected by industry-leading security protocols. They employ the highest standards of cyber security and will never share your private data without your permission. Client funds are held in segregated bank accounts at reputable tier 1 European banks.
eToro accepts clients from all over the world, excluding some countries such as the USA, Canada, Japan, Brazil, Turkey, North Korea, Iran, Cuba, Albania, Serbia, Sudan and Syria. Some of the eToro broker features and products mentioned within this eToro review may not be available to traders from specific countries due to legal restrictions.
In terms of trading platforms offered, eToro differentiates from most other online brokers by providing its very own proprietary “social trading” platform, rather than the usual choices such as MT4 and cTrader.
The eToro platform is intuitive and user-friendly, offering a simple and interactive trading experience. All of the information on the platform is accessible from both the web interface and mobile application. It includes a series of guides and tutorials to help familiarise yourself with the platform.
eToro Trading & Investing Platform
The current eToro trading platform is the culmination of their ongoing efforts to provide an online trading experience that is unique and intuitive. The platform incorporates some of the latest innovative trading technologies, including the eToro CopyTrader™ system, Popular Investor Program, and CopyPortfolios™ investment strategies.
eToro Trade Markets
The trade markets section of the platform displays an overview of the wide range of markets and instruments that eToro offer for trading. They can be filtered according to the market that you wish to view and there is a search function to easily find specific instruments. When you select an instrument, you are taken to its individual page overview from where you can view more information.
eToro Instrument Feed
Each trading instrument has its own feed which shows the latest updates from the eToro community that users can like, comment and share as per most popular social media sites. You can also make your own posts to relevant feeds.
The feed also gives a brief explanation of the instrument and displays the number of followers and percentage of investors. You can view the sentiment to see what percentage of investors are buying and selling. Also displayed are related markets and people investing in the instrument.
eToro Instrument Statistics
The statistics section shows you an overview of the instrument from 1 day to 3+ years, including detailed financial summaries and profile.
eToro Instrument Chart
This section displays a chart of the instrument that can be enlarged. Once enlarged you are presented with a vast range of features and tools to assist with conducting chart analysis.
You can choose from multiple chart styles and timeframes. There is a range of technical indicators and graphical objects to analyse the market. The buy and sell buttons can be used to efficiently place trades.
There is also a research tab that is only available to accounts which have made a deposit. This tab shows the analyst consensus and price targets of the chosen instrument.
You can add instruments to your watchlist for easy access and a quick overview. Watchlist displays the percentage change, sentiment and bid/ask prices. One click trading can be enabled to trade directly from the watchlist.
The eToro portfolio shows you all your trading activity. You can view information about all of the markets, traders and CopyPortfolios that you are currently investing in.
Clicking on each line allows you to see the breakdown of individual trades whilst clicking on the clock icon lets you see the history of your closed trades, previously copied traders and CopyPortfolios.
eToro News Feed
The eToro news feed displays the latest news from the eToro community. You can filter to display only saved posts, posts from popular traders or posts in English. Users can like, comment and share posts as well as create their own. Eventually you can customise the feed to display only the news relevant to you. You can get notifications that appear both on the web platform and as push notifications straight to your mobile device.
eToro Copy People
The eToro copy people section lets you view millions of traders on the eToro platform that you can choose to copy using the copy button. You can locate traders by using the search tool and filtering the results. There is a variety of parameters to choose from, such as gain, risk score, location and many others. Each trader has their own portfolio and statistics for you to compare performance and to help determine if there is anyone who you would like to copy.
You can view investors chosen by editors, popular investors, top investors, trending and most copied. Clicking on an investor gives you an individual detailed overview of their account including news feed, statistics and portfolio. It should be noted that past performance is by no means any guarantee of future performance.
CopyPortfolios is a portfolio management product. Investing in CopyPortfolios will automatically copy multiple markets or traders. Once you invest in a CopyPortfolio, your capital is professionally managed by eToro’s investment committee. Each CopyPortfolio’s performance is analysed in depth and rebalanced automatically to maximise its gain potential.
Clients can invest in two types of CopyPortfolios: Top Trader Portfolios which comprise of the best performing and most sustainable traders on eToro, and Market Portfolios that bundles together CFD stocks, commodities or ETFs under one individually chosen market strategy.
Users choose the CopyPortfolio that fits their strategy and enter the amount they wish to invest. Once confirmed by clicking the invest button they will then have a fully allocated portfolio.
eToro’s Mobile Trading App
Users can conveniently access all of eToro’s platforms features via eToro’s mobile trading application which is freely available for both Android and iOS devices from the relevant app stores.
Using the eToro trading app, you can manage your portfolio, follow markets, copy traders, and perform any action available on the platform from your smart device.
The mobile app is useful for those who wish to trade from multiple devices and whilst on the go from any location in the world with an internet connection.
eToro Trading Tools
eToro do not offer any standalone trading tools which is perfectly fine considering the vast array of trading tools within the eToro trading platform. This includes multiple chart analysis tools, technical indicators, graphical objects, annotations, news feeds and much more.
It is easy to access and use the tools from within the platform. You can navigate to the relevant sections using the side menu and choose from a wide range of different tools and features. There are tutorial videos and guides on the website that help to explain how to get the most out of the platform.
eToro have a dedicated trading academy with a series of educational materials including videos, guides, webinars and more. These cover many trading subjects including online and social trading, helping to increase your trading knowledge whatever your current level of expertise.
eToro offer hundreds of different financial assets to trade using a variety of investment strategies across multiple asset classes including forex, commodities, cryptocurrencies, stocks, indices & ETFs.
Some positions on eToro involve ownership of underlying assets, such as buy (long), non-leveraged positions on stocks and cryptos. Other employ CFDs, which enable a variety of options, such as leveraged trades, sell (short) positions, fractional ownership and more.
The global stock market provides a wide range of options for traders and is usually considered as a mid-long term investment. Economic events can affect stocks moving up or down, this includes earnings reports, new products, and changes in competitors’ stock prices.
Buying a stock on eToro by opening a buy (long), non-leveraged position, means you are investing in the underlying asset (except under ASIC) and the stock is purchased and held in your name.
However, eToro also offers additional functions using CFD trading. With CFDs, you can open sell (short) positions, use leverage, and buy fractional shares. For example, on eToro you can invest as little as $100 in a stock that actually costs $500.
eToro have thousands of stocks based on US, UK and EU companies, including Apple, Amazon, Tesla, Google, Facebook and many more.
Cryptocurrency is an online digital currency that is decentralised and based upon complex mathematical algorithms. eToro offer a unique CryptoPortfolio investment strategy that offers exposure to the market and is managed by eToro’s investment committee.
Buying crypto on eToro means you are investing in the underlying asset (except under ASIC), and the crypto is purchased and held by eToro on your behalf. These trades are unleveraged. Buying and selling the underlying assets are unregulated and have no investor protection.
eToro have an ever-growing selection of cryptos being added to the platform including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Cardano (ADA) & XRP.
Commodity trading is one of the oldest forms of trading that dates back thousands of years. Commodities are unique in the sense that they have real world physical representation and are affected by real world events.
Commodities are traded on eToro as contract for differences (CFDs) thus you do not need to purchase the underlying asset in order to trade them. In addition, CFDs enable sell (short) positions, leveraged trades, and fractional ownership.
eToro offer a range of popular commodities including oil, gas and precious metals such as gold & platinum.
The foreign currency exchange (forex) market is the biggest market in the world in terms of volume, with an average of more than $4 trillion a day in trading volume. It is also known for its volatility, with changes happening in a matter of seconds.
Forex currency is traded in pairs such as the EURUSD & GBPUSD. Currencies are affected by a variety of different factors, including central banks interest rates, a certain country’s export statistics, and other economic events.
Due to the fact that it is such a dynamic market, forex traders are usually very active and can sometimes open and close trades within a few minutes. Currency movements are measured in small units which are commonly referred to as “pips” (0.0001).
Most online brokers offer leveraged forex trading at a fixed ratio, e.g. 1:30. In this instance, for each $1 invested, the trader can hold a $30 position. Leverage can be very dangerous and is considered a double-edged sword as losses are also leveraged which can result in funds depleting rapidly.
Forex currencies are traded via the eToro platform as CFDs, meaning you don’t need to purchase the underlying asset to trade them. In addition, CFDs enable sell (short) positions and leveraged trades.
eToro have over 40+ minor, major and exotic currency pairs including EURUSD, GBPUSD, AUDUSD, USDJPY, EURJPY & USDCAD.
An Exchange-Traded Fund (ETF) is a financial instrument created by financial bodies using a team of experts who tailor each fund to meet its goal. They comprise of several assets grouped together to serve as one tradable fund. ETFs are usually considered as a long-term investment. Each ETF follows a certain market strategy or index and is designed to either suit the hedging needs of a specific financial institution, or to be a low-risk option for investors.
Investing in ETFs on eToro by opening a buy (long), non-leveraged position, means you are investing in the underlying asset, and the ETF is purchased and held in your name (all leveraged ETF positions in the UK, under FCA regulations, and all positions in Australia, under ASIC regulations, are executed as CFDs). However, eToro also offers additional functions using CFD trading. With CFDs, you can open sell (short) positions, use leverage, and buy fractional shares.
eToro’s ETF offering includes SPY, VXXB, TLT, HMMJ & QQQ.
All of the major global stock markets have an index, or several indices, which reflect the status of a specific segment of that market. Indices contain different assets from particular sectors. E.g. The NASDAQ index on Wall Street includes major companies from the technology sector, such as Apple and Google. It also contains rival companies, thus in the instance if one falls, sometimes its competitor will rise, which can maintain the index’s overall balance. Some companies carry more weight than others and they can therefore have a larger impact on the index’s value as a whole.
eToro provide indices as CFDs, so traders can open leveraged buy (long) or sell (short) positions. Popular indices offered by eToro include GER30, NSDQ100, DJ30, SPX500 & FRA40.
eToro Accounts & Fees
Clients of eToro Europe Ltd. and eToro UK Ltd can open or close a stock position with zero commission charges – although this does not apply to short or leveraged stock trades. There is no mark-up, no ticket fee and no management fee. eToro’s costs are covered in the spread and there are overnight/weekend fees for CFD positions. This does mean that spreads tend to be higher than some other brokers can offer.
eToro offer 2 main types of accounts, the retail and professional account. They also offer a free practice demo account that enables you to trade online using virtual money. Every trader who signs up with eToro receives a virtual-money account that is credited with $100,000 and lets you practice your trading strategies and hone your skills before trading with real money.
Clients with a retail account get access to all trading assets for trading manually or copy trading (subject to suitability). The retail account is simply for those who do not qualify as a professional trader. Although leverage is restricted for retail clients, they are protected by the Investor Compensation Fund and recourse to the Financial Ombudsman Service. In addition to this, they receive negative balance protection and margin closeout restrictions. The minimum deposit required for this account type is $200.
Those who qualify as professional clients can apply for the professional account which gives increased leverage of up to 1:400 for certain instruments and a reduction on current margin rates, allowing you to trade with more leverage, as opposed to the limitations imposed by ESMA on retail clients. Professional traders do not have the $25 withdrawal fee that eToro charges its other clients. The minimum deposit required for this account type is $200.
To qualify as a professional client requires meeting 2 out of the 3 following guidelines, 1) Have a portfolio of greater than $500k (not including property or cash) 2) Have a verified history of placing significant sized positions (down to broker discretion) 3) Have worked in the capacity of a professional position related to derivatives / speculation / trading.
It is important to note that negative balance protection, Investor Compensation Fund and recourse to the Financial Ombudsman Service is removed should you qualify for a professional account as you are then classified as professional trader under ESMA regulation.
As broker fees can vary and change, there may be additional fees that are not listed in this eToro review. It is imperative to ensure that you check and understand all of the latest information on the official eToro website before opening a brokerage account.
The eToro customer support team are available 24/5 to answer any technical or general questions that you may have. They operate a ticketing system and can also be reached via email or telephone. The online help centre has a wide range of articles to help immediately answer many questions that you may have. In addition to this, they provide clients with exclusive trader programs and frequent financial news updates.
eToro Deposit & Withdrawal
eToro have a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit card and online payment systems such as PayPal, Neteller and Skrill. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
eToro do not charge any deposit or trading fees other than spreads. They do charge a $25 fee for withdrawals for non-professional clients and there is a minimum withdrawal amount of $50. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
All deposits apart from the first-time deposit (which varies from country to country) are required to be at least $50. Deposits made via wire transfer are subject to a minimum $500 requirement. Unverified accounts are limited to a total deposit amount of $2,250. In order to upgrade your account to verified status, you will need to contact eToro customer service.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. eToro strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your trading account.
The eToro platform operates in USD, so they do not charge any fees for USD deposits. They also accept deposits in seven other currencies; EUR, GBP, JPY, AUD, RUB, CNH & CAD. When converting the funds to USD, a conversion fee is charged which you can see prior to submitting payment.
All transactions are communicated using Secure Socket Layer (SSL) technology, ensuring that your personal information is kept safe.
eToro Account Opening
Opening an eToro account is a quick and easy process. There is a short online form to complete on the eToro website, after which you will need to verify your email and upload your documents for KYC purposes. This can be a form of identification such as a passport or driver’s license and proof of address such as a utility bill. Once your documents have been verified you can fund your trading account and commence trading.
What is the eToro minimum deposit?
eToro have an initial minimum deposit requirement of $200. After your first deposit, there is a minimum deposit amount of just $5. All deposits via Bank Transfer must be at least $500.
A handful of countries have a minimum deposit of $1,000 required whereas the minimum for Algeria is $5,000 and Israel is $10,000 respectively.
When registering a corporate account, a minimum first-time deposit of $10,000 is required.
How do I deposit money into eToro?
Making a deposit into your eToro account is quick and easy. The broker accepts a good range of payment methods for different user needs such as bank wire transfer, credit/debit cards and e-Wallets including Skrill, PayPal and Neteller.
You can login to the eToro trading platform, click on “deposit funds”, set your amount and choose whichever method you prefer. eToro accept deposits in USD and 14 other currencies: EUR, GBP, AUD, RMB, THB, IDR, MYR, VND, PHP, SEK, DKK, NOK, PLN, CZK.
Card and online payment processor deposits can be credited into your account within minutes. Bank transfers may take between 4-7 business days to clear. If your deposit is not approved for any reason, you will be notified via email.
eToro accepts credit and debit payments from the following cards: Visa, Mastercard, Diners Club, Maestro. The card must belong to the named eToro account holder as they do not accept third-party deposits.
What are the eToro deposit fees?
Some brokers charge a deposit fee which is applied when you send money to your trading account from your bank account. eToro do not charge any deposit fees. The amount of money that you deposit is the same amount that you will see in your brokerage account.
How do I withdraw money from eToro?
You can request to withdraw funds from eToro at any time from the “withdraw funds” tab on the left-hand side of trading platform. Simply enter the amount you wish to withdraw, complete the form and click submit. The minimum amount to withdraw is $30 whilst your account must be verified with a green tick in order to request a withdrawal.
Funds are withdrawn to the same account using the same method that you used for your deposit. Payment will be made in the following order of priority: Card, e-Wallet, Bank Transfer. The broker may ask for an alternative payment method if they cannot return the funds to the original account.
It is important to note that funds can be withdrawn up to the value of the balance of your eToro account, minus the amount of margin used. Therefore, before you make a withdrawal request, you should ensure that you have the amount available in your balance.
If you have any funds invested in open positions, you can free up additional funds by closing positions. Once a position has been closed, the invested amount +/- any profit or loss will be sent back to your available balance.
eToro processes withdrawal requests within one (1) business day, provided they have all of the required information. The time that it takes to receive your payment can depend on the payment method used. E-Wallets take around 1 business day whereas bank transfers and card payment can take between 3-8 business days to show in your account.
You can check the progress of your withdrawal request from your eToro account dashboard and you will receive an email confirmation once your withdrawal has been processed.
You can cancel a withdrawal request that is “Under Review” via your Portfolio, by clicking on the blue History icon and then clicking the “Reverse” button on the withdrawal that you would like to cancel.
What are the eToro withdrawal fees?
As with most online brokers, eToro withdrawal requests are subject to a withdrawal processing fee. They charge a small withdrawal fee of just $5 for bank transfer withdrawals. You can see any fees before confirming the withdrawal and keep in mind that third-party payment processors may also charge an additional fee.
Any withdrawals sent in currencies other than USD will be subject to conversion fees. eToro Diamond members are automatically exempt from conversion fees. Platinum and Platinum+ members can receive a 50% discount on conversion fees.
What is the eToro commission fee?
Whereas most brokers add a commission fee to buy or sell shares, eToro charge 0% commission on stocks. This means that no broker fee will be charged when opening or closing the position although this does not apply to short or leveraged positions and to stock CFDs. Stock CFDs incur a very reasonable 0.09% fee whereas you pay a competitive spread on other CFDs and overnight (rollover) fee.
There is no limit on the number of commission free shares that you can buy. Overnight (rollover) fees are not charged for non-leveraged buy stock positions no matter how long you hold them.
For accounts under CySEC/FCA regulation, zero commission applies to most stocks available on the eToro platform. For accounts under ASIC regulation, zero commission applies to all US stocks available on the eToro platform.
In addition to commission free trading, eToro never charge any management, administration or ticketing fees. The broker even absorbs Stamp Duty and Financial Transaction Tax for clients where applicable.
Are there any eToro inactivity fees?
After 12 months with no login activity, eToro charge a $10 monthly inactivity fee that is taken from any remaining available balance in your account. No open positions will be closed to cover the fee.
What are the eToro account types?
You can choose between the eToro retail or professional account. Retail clients receive access to all of the brokers trading assets and can trade both manually or via Copy Trade.
Although retail clients have restricted leverage, they do receive certain protections such as coverage by the Investor Compensation Fund and recourse to the Financial Ombudsman Service. In addition to this, retail clients receive negative balance protection and margin closeout restrictions.
Those of you who pass a test and qualify for the professional account get access to larger leverage but you waive certain ESMA protections such as the Investor Compensation Fund and recourse to the Financial Ombudsman Service.
Is there an eToro demo account?
Yes, you can open an eToro demo account which offers a great way for you to practice trading online. You can familiarise yourself with the eToro platform at your own pace and trade risk free using virtual funds. Once you feel confident enough to trade with real money, you can move onto opening a live account.
What are the eToro spreads?
If you are looking to trade CFDs with eToro, then you will need to pay the spread. The spread is the difference between the bid (buy) and ask (sell) prices of a certain asset. When a position is long (buy), the ask rate is applied. When a position is short (sell), the bid rate is applied.
Spreads are a common way in which trading platforms charge fees. eToro have very low spreads starting from 1.0 pips on major forex pairs such as the EURUSD. Spreads on commodities start from 10 pips whereas indices have spreads from 100 pips.
What is the eToro leverage?
eToro provide a leverage up to 1:30 for retail clients and 1:500 to those who qualify as professional clients. Please note that leverage can vary depending on the asset class that you are trading.
Leveraged trading enables traders to enter larger position sizes than they would be able to without it. However, it is important to be aware that higher leverage leads to higher risks, as the following example illustrates.
If you traded with no leverage and invested $2,000, for every 1% move in the market you can gain or lose $20, which equals 1% of $2,000.
On the other hand, if you invested the same $2,000 and traded using x10 leverage, the dollar value of your position would be equal to $20,000. In this instance, 1% of $20,000 equals $200, so for every 1% move in the market you can gain or lose $200.
What are the eToro margin & stop out levels?
A margin is the portion of the Cash Equity in your account required for maintaining open positions. You must have a sufficient margin of Cash Equity in your account to trade freely.
If you are approaching a margin call and reaching an equity balance of 20%, eToro will send you a margin call alert via a notification within the platform. From there, you can decide whether to avoid a margin call by manually closing positions yourself or depositing more funds.
On rare occasions, it is possible that the market conditions could cause your Cash Equity to go into the negative. If this happens, eToro will perform a margin call on your account and close all open trades. You will be able to commence trading again once all of the trades are closed and your Cash Equity is no longer in the negative.
The maximum Stop Loss that eToro allows when you open a trade is 50% of the position amount (excluding non-leveraged buy positions). This stop loss limit helps to mitigate the possible risk to your capital in case of sharp movements in the market.
Do eToro allow hedging & scalping?
Under eToro’s Terms and Conditions, scalping and hedging are trading techniques that are not allowed.
Is there an eToro Islamic account?
Yes, traders with a Muslim faith can open an eToro Islamic account with interest-free leverage on contracts lasting longer than 24 hours and zero rollover interest. eToro doesn’t take any additional rollover commissions for contracts lasting longer than 24 hours and do not charge any commissions or fees for account management. Instead, the broker earns revenue from the spreads. There is a minimum deposit of $1,000 required to open an Islamic account with eToro.
What are the eToro trading instruments?
eToro have hundreds of different financial assets to trade, across several asset classes including forex, cryptos, stocks, commodities, indices and ETFs. They offer an impressive selection of stocks from 17 exchanges around the world.
Each asset class has its own characteristics, and can be traded using a variety of investment strategies. Whatever your interest, there is something for everyone to trade.
How do I open an eToro live account?
How do I verify my eToro account?
As a normal part of any brokers know your customer (KYC) process, newly registered traders are required to provide a Confirmation of Residence (e.g. a valid utility bill dated to the last 6 months,) as well as a Proof of Identity such as a valid passport, or other form of officially issued photo ID.
You can easily upload the required verification documents from your eToro account dashboard. It shouldn’t take long for them to verify your account after which you will be free to make a deposit and start trading online.
What is the eToro trading platform?
eToro is the world’s leading social trading platform, with thousands of options for traders and investors. The eToro platform gives traders and investors access to more than 2,000 different financial assets, including stocks, cryptocurrencies, ETFs, indices, currencies and commodities which can be invested in both with and without leverage, giving almost anyone access to short-, mid- and long-term investment options.
Where can I download the eToro platform?
You can get free instant access the eToro platform directly from the brokers website or download the eToro app on your iOS or Android mobile device from the relevant app store.
Where is eToro located?
eToro’s main research and development office is located in Tel Aviv, Israel. In addition to legal entities registered in the UK, China, US, Australia and Cyprus.
Is eToro regulated?
Yes, eToro is regulated by the CySEC authority in the EU. It is authorized by the FCA in the UK, and by FinCEN in the United States, and by the ASIC in Australia.
Not all trading platforms are regulated. Regulations are put in place to protect investors, so we would always prefer to trade with regulated platforms.
What countries do eToro accept?
eToro is the world’s largest community of traders and investors, numbering more than 10 million from more than 140 countries. However, they are unable to accept clients from some countries due to legal reasons, including Iran, Turkey, Japan, Canada, Hong Kong and Singapore. Please check on the brokers website for an up to date list or alternatively you can see if your country is listed on the eToro application form.
Is eToro a scam?
No, eToro is not a scam, they’re regulated by several Financial Regulators and the world’s leading social trading platform, which offers both investing in stocks and cryptocurrencies, as well as trading CFD with different underlying assets.
How can I contact eToro support?
If you have a question or need assistance with the eToro platform, the brokers customer service team will be happy to assist you. They can be reached via email, telephone and by completing an online form. Before opening a support ticket, you could always visit the brokers help page where you will be able to easily find answers to clients frequently asked questions.
eToro is the largest social trading platform, offering flexible methods of trading for yourself and investing in other traders. They provide a wide range of trading instruments across multiple asset classes with a very user-friendly trading platform that implements a vast collection of useful trading tools for conducting thorough and in-depth analysis. eToro are the “go to” social trading platform for investors.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.