The Pros, Cons and More Reviewed

If you’re thinking about opening an eToro account; chances are that you’re familiar with currency trading. 

That said; ever since online Forex swapping reached mainstream popularity in the last decade, tons of exchange sites have made it their mission to compete for your trust and undying loyalty. 

With so many affiliate marketing partnerships going on behind the scenes, it can be hard to get a clear, unbiased glimpse of what each trading platform has to offer. We’re here to go against the grain and prioritize cold, hard facts above all else. 

This eToro review will focus on the pros, cons, and in-betweens that competing sites fail to mention. 

We’ll discuss eToro’s regulatory framework, storied background, available opportunities for US investors, and unique resources that serve to differentiate this trading platform from the competition. 

Without mincing any more words, let’s jump into the details you came for in our eToro.com review!

Disclaimer: Your capital is at risk. 68% of retail investor accounts lose money when trading CFDs with this provider.

Managementhelp.org is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Managementhelp.org to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Low, $10 deposit minimum With eToro

eToro’s Company Background 

In 2007, eToro gained its foothold in the Forex trading world under the name RetailFX.

This Tel-Aviv-based portfolio management service was launched by Ronen Assia, David Ring, and Yoni Assia (all of whom still hold leadership positions today). 

When they emerged onto the scene; they offered just a few tradable currency pairs. 

Circa 2010, RetailFX changed its name to eToro. To boot, they began flooding their library of tradable options with stocks, valuable commodities, indices, and copy trading opportunities. 

Four years later; eToro pioneered the future of currency trading by adding support for BTC. In lieu of gaining a larger following, they enabled users to buy, sell, and trade crypto CFDs to non-U.S. residents. 

More recently, in 2018; eToro became the first provider to support ETH and Ripple trades. They took things one step further with the launch of the eToro money crypto wallet and their proprietary eToroX program. 

Over their last four years of seemingly exponential growth, they’ve added 36 cryptocurrencies and 3,000+ tradable items to their ever-expanding list of options. 

As of today, eToro’s speculated market value rests at $10.4 billion. Currently, they’re taking steps to become a publicly-traded company in partnership with Fintech Acquisition Corp. 

What Does eToro Have to Offer for US Retail Investors? 

eToro traders in the United States have a lot to look forward to. This beginner-friendly exchange commission offers a well-rounded library of stocks, indices, cryptocurrencies, CFDs, and commodities rolled into an easily navigable website.

In comparison to other stock trading platforms, eToro brings:

• 
  • Tons of educational resources 
• 
  • 40+ cryptocurrency options 
• 
  • Comprehensive copy trading program
• 
  • Low Forex and CFD fees
• 
  • Immersive interface
• 
  • Streamlined mobile app 

Disclaimer: Social trading, cryptocurrency trading, and eToro stock trading are not covered under the Financial Services Compensation Scheme. You incur a high risk of losing money rapidly when trading CFD assets with this provider. None of the content in this eToro review constitutes investment advice. 

eToro Review  – Pros and Cons:

eToro Pros Reviewed

• 
  • 40 cryptocurrency options 
• 
  • 3,000+ tradable symbols 
• 
  • $100,000 in virtual funds 
• 
  • Commission-free stock trades 
• 
  • Low, £10 deposit minimum
• 
  • eToro mobile wallet app
• 
  • Intuitive eToro “copy trading” 
• 
  • Slew of educational resources 

Review of eToro Cons 

• 
  • Phone support restricted to eToro club members 
• 
  • 5% crypto-to-fiat conversion fee 
• 
  • 1% crypto trading fee 
• 
  • Comparatively basic trading library

eToro’s Unique Features

Aside from the brokerage services they offer, eToro houses some unique features that give them permission to run ahead of the pack. 

When it launched in 2010, eToro’s social trading platform was the first of its kind. Originally, it gave traders the ability to see and mimic the market moves of recognized investors. In the present day; eToro handles all the dirty work for you. 

So long as you’re willing to invest $200 or more, eToro’s fully automated trading strategies move your money for you. Just choose among the thousands of experienced investors who use their platform, and let them handle the rest. 

If you have no idea where to begin, this program can be an incredibly useful tool. Their wins are your wins, but their losses are your losses. As always, never invest more than you can afford to lose! 

Additionally, eToro’s comprehensive mobile app is the best of its kind. In short, all the best features of their desktop website migrate seamlessly onto your smartphone. 

You’ll enjoy a lag-free trading experience bolstered with immersive graphics and real-time portfolio snapshots that give you a clear glimpse of where your profits stand. 

Where other smartphone clients fall short, eToro’s app excels. 

User Interface 

eToro offers an easy-to-use interface that gives beginner investors the confidence and information they’ll need to conduct profitable trades. 

The first thing we noticed was a live snapshot of the biggest stocks and cryptocurrencies on the market. As the value of each item rises and falls, you’ll be the first to know. 

Their “Big Movers” section gives traders a clear picture of the stocks and cryptocurrencies that are doing exceedingly well in real-time. If there were ever a time to hop on the investment bandwagon, it would be now. 

Similarly, you can see exactly which investors are making a killing on particular trades. If you trust their judgment, you can get what they’re having with one or two clicks. 

Overall, their desktop website is butter-smooth and lag-free. It does away with complicated sidebars and impossible-to-understand flow charts in favor of easily digestible categories and self-explanatory icons. 

We couldn’t ask for a more beginner-friendly option. eToro removes the hassle and frustration from getting acquainted with their platform and making your first trade. 

Tradable Options 

eToro is home to 3,000+ symbols that cover a broad range of stocks, cryptocurrencies, and commodities. 

Their library accounts for 1,800+ stocks and 200+ ETFs, and you can broaden your horizons with hundreds of CFDs that span over the same symbols. Traders can cast their wares on the value of precious metals, heating oil, and 80+ foreign currency pairs. 

Digital enthusiasts can go to town with 40+ supported cryptocurrencies, the most popular of which include BTC, ETH, LTC, Bitcoin Cash, and DOGE. 

eToro stays on top of the latest altcoins (and they supported the rise of LUNA before their disheartening fall from grace). 

While eToro hosts a very basic library by experienced investors’ standards, they’re equipped with enough options to satisfy beginner and intermediate traders for years to come. 

eToro Trading Fees, Commissions, & Pricing

While many online brokers list daunting deposit minimums; eToro doesn’t scare would-be investors away from dipping their toes into currency trading. 

If you’re just starting out, you’ll be pleased to know that you can fund your account with as little as $10. Don’t worry – eToro has plenty of options for low-stakes traders, and you can scale your experience to accommodate your risk tolerance. 

Need more practice? You can make no-risk trades with $100,000 in virtual funds before you invest a dollar of your hard-earned money. 

eToro furthers their beginner-friendly nature by offering 100% commission-free stock trades. While other Forex brokers are more than willing to take a slice of your profits, you’ll keep everything you earn with eToro. 

Start Trading With eToro Today

So long as you’re a resident of the United States; eToro doesn’t charge any withdrawal fees. However, you’ll have to account for their $30 withdrawal minimum before requesting to move funds off-site. 

However, you will have to pay a $10 fee for every month you spend dormant after your first year of inactivity. So long as you remember to “log in” every now and then; this fee is easily avoidable. 

There’s also a 1% crypto trading fee to contend with, but most online brokers steal a flat rate that works out to more than 1% of your profit margin. 

We weren’t too thrilled about their 5% crypto-to-fiat conversion fee, but you can wholly avoid this hassle by moving your crypto off-site before exchanging it for cash. 

Educational Resources 

Introducing eToro’s Online Trading Academy – the world’s first (and only) pool of educational resources to help beginner, intermediate, and advanced retail investors up their game. 

With hours of informative content to comb through, complete newbies can learn the ropes and hone their skill set towards profitable currency trading online. 

Whether you’re a visual or auditory learner, eToro brings explanatory articles and explain-like-I’m-five videos to your fingertips. Their menu sidebar covers beginner-style topics and advanced how-to guides with equal dedication. 

They seemingly cover every possible question you could have on the subject of cryptocurrency as it pertains to Forex trading. You’ll learn about the ins…