eToro

Written By
Deniz Saat
Reviewed By
Jonathan Hamel

Do you want to start investing but don’t know how? eToro is an excellent platform for beginners. Learn about all of the features eToro has to offer. You will also have access to industry experts and see what they are buying.

Overview

Social trading platform that allows you to view and copy other traders’ portfolios

Well-designed and easy-to-use interface

Good selection of coins

Overall Rating
  • Features
  • Ease of Use
  • Payment Options
  • Fees
  • Security

Jump to Section

Who Are They?FeaturesCurrencies SupportedPayment MethodsSupported CountriesFees and Buying LimitsCustomer Reviews
Is 
eToro
 Safe? 
ProsConsFAQ

Who are they?

If you are looking for a single platform to trade stocks, commodities, forex, and cryptos, there are no better options than Etoro. Etoro is a regulated exchange and broker with more than 10 million users. Launched way back in 2007, eToro has emerged as an advocate of Bitcoin. Etoro is known among investors as “the social trading platform.”

Features

One of the exclusive features that makes Etoro stand out from the rest of the pack is its ability to follow and copy traders. Let us look at some of the key features of Etoro.

  • Copy traders: This feature allows users to automatically view traders' real-time activities and copy them automatically to their own portfolio. The traders who have a low-risk score and deliver consistent returns are rewarded for sharing their wisdom.
  • Copy portfolios: This feature includes a list of carefully selected assets or trades based on a predefined strategy. There are two types of CopyPortfolios.
  • Transparency: Etoro operates in complete transparency and makes sure that each copied client has their profile available and open to all other clients, including details such as past performance, gain, risk score, and portfolio diversity.
  • Popular Investor Program: This program allows traders with unique investment strategies to earn an additional income if other clients follow and copy their strategy in the Etoro platform.
  • Good Dollar: A digital currency that any cell owner can claim and convert to their local currency.
  • eToro Club: Etoro provides customers an enhanced investment experience with a host of services. The users enjoy extra privileges with each tier upgrade. There are five different tiers- Silver, Gold, Platinum, Platinum+, and Diamond.
  • Reliable Customer Service: Etoro’s customer support team is available around the clock to help users resolve most of their issues and make the most of its trading platform.
  • Trading Courses: Etoro’s online trading course helps traders learn how to trade crypto, stocks, and other currencies. Etoro also offers video tutorials.
  • eToroX: It is a fully regulated cryptocurrency exchange that provides traders with complete access to crypto assets. Its key features include high liquidity, algo trading capabilities, tight spreads along with a unique set of crypto assets.
  • Real crypto assets: On Etoro, certain crypto positions are secured with real assets, and others use CFDs. In the case of real assets, Etoro purchases the tokens on behalf of the user and registers them in the user’s account.
  • CFD: Etoro allows open and close positions of cryptocurrencies via Contract for Difference(CFD) without owning the crypto asset. Etoro permits to trade CFD leverage positions only for its premium clients.
  • eToro Academy: eToro provide learning resources for all of its users in their education portal. Customers can also keep up with all of the latest news and analysis for everything that they are following.

Cryptocurrencies

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Zcash (ZEC)
  • Dash (DASH)
  • EOS (EOS)
  • Cardano (ADA)
  • NEO (NEO)
  • And many more...

Fiat Currencies

  • United States Dollar (USD)
  • Australian Dollar (AUD)
  • Canadian Dollar (CAD)
  • Euro (EUR)
  • Japanese Yen (JBY)
  • Renminbi (RMB)
  • Russian Ruble (RUB)
  • Swiss Franc (CHF)

Payment Methods

  • Credit/Debit Card
  • Wire Transfer
  • PayPal
  • Skrill
  • Neteller
  • Webmoney
  • Giropay
  • China Union Pay
  • Yandex
  • Bank transfer

Supported Countries

As of April 2021, the eToro Money crypto wallet is available in: Angola, Argentina, Australia, Austria, Azerbaijan, Bahrain, Belgium, Bolivia, Brazil, Bulgaria, Cayman Islands, Chile, Colombia, Côte d’Ivoire, Croatia, Cyprus, Czechia, Denmark, Dominican Republic, Ecuador, Estonia, Finland, Georgia, Germany, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Israel, Italy, Kazakhstan, Kenya, Kuwait, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Morocco, New Zealand, Norway, Oman, Peru, Philippines, Poland, Portugal, Romania, Senegal, Singapore, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Ukraine, United Arab Emirates, United Kingdom, United States (most states), Uruguay, and Vietnam.

Fees and Buying Limits

  • eToro charges zero commission fees, and zero hidden fees.
  • All fees are done by spreads. The trading fee structure varies from coin to coin. The spread fee for Bitcoin is 0.75%. For other coins it ranges from 1.9% - 5%.

Customer Reviews

“Cryptocurrency investors now have the ability to purchase and hold crypto assets directly. This is a great addition to the platform and positions them well within the space now.” Reference

Overall, eToro is a trendy site that takes a different tack than most cryptocurrency exchanges. The fact that it’s a regulated exchange is a huge plus for security, and they haven’t experienced any major security breaches. They have a history of trading FX and that is something that many crypto-only exchanges can’t provide. Reference

“Compared to ‘standard’ crypto platforms (e.g. Coinbase, Kraken, Binance), eToro’s fee structure is a little different, and slightly complicated.” Reference

Is 

eToro

 safe? 

Etoro is a fully regulated exchange, and has not reported any case of hacking or misuse of customer’s funds since its establishment of BTC trading services in 2013. In terms of compliance, Etoro is regulated by Cyprus Securities Exchange Commission CySEC in Europe, FinCen in the US, and the Financial Conduct Authority FCA in the UK. Etoro also encourages customers to access a secure 2 Factor authentication to access their accounts. Etoro stores all of its crypto assets in a highly secure offline cold storage. It uses several high-security mechanisms like multi-signature technology to secure both the wallet and its private keys. All these factors convey that Etoro is a legitimate and safe trading platform.


Pros of 

eToro

  • Good selection of coins.
  • User-friendly and well-designed interface making it suitable for both beginners and advanced traders.
  • In CFDs, it is not required to purchase the underlying cryptocurrency asset, making transactions faster and more accessible.
  • Access to experienced traders, investment strategies, and performance. Communication with them is also possible through Etoro’s forum.    

Cons of 

eToro

  • Fees are average compared to other exchanges.
  • Unavailable in certain US states.

FAQ

1. Is Etoro a good crypto platform?

Etoro is a simple yet powerful trading platform that supports investors right from beginners to experts with a remarkable crypto trading experience. With award-winning social-trading features that allow you to connect with top-performing crypto traders, Etoro is undoubtedly one of the best crypto platforms.

2. Does Etoro have an app?

Yes, Etoro’s Android app can be installed on a mobile phone from the Google Play store. The user-friendly app provides 24/7 access to the cryptocurrency market and offers easy buy and sell options.

3. How do I withdraw money from Etoro?

Etoro allows withdrawing money through credit/debit cards, wire transfers, e-wallets, and cryptocurrency transfers from Etoro wallet to any external wallet. The withdrawal process takes approximately 24 hours.

4. ‍How does Etoro work?

Etoro is a multi-asset platform that primarily focuses on stocks, crypto assets, and CFD assets. Etoro's stand-out feature is the social trading platform that allows users to copy the portfolio of an expert trader who also trades on Etoro.

WRITTEN BY
Deniz Saat
Deniz Saat is an IT services specialist and technical writer.
REVIEWED BY
Jonathan Hamel
CEO and Founder of Académie Bitcoin

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