eToro Review 2021 – Is eToro Safe and Legit?

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eToro Logo

eToro is a multi-asset brokerage company, known for their copy and social trading. It was founded in 2006 by Ronen Assia, Yoni Assia and David Ring. They offer CFDs, cryptocurrencies, stocks, and ETFs. eToro operates in more than 140 countries and has millions of registered users. Company headquarters are in Israel, Tel Aviv-Yafo. The company has registered offices in Cyprus, United Kingdom, the United States, and Australia. Since 2018, the company's value grew from $800 million to $2.5 billion in 2020. eToro is a safe broker, regulated by top-tier authorities.


eToro is great for copy social trading and cryptocurrency trading, we recommend it to beginner and advanced traders. It is excellent for zero-dollar commissions for US stock trading. One of the downsides of eToro is their forex and CFD fees, which are a bit higher than most of its competitors.

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Disclaimer: CFDs are complex instruments that 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. Make sure you understand how CFDs work and if you can afford to take the high risk of losing your money.

Demo account:Yes
Minimum deposit:$50 – $200
Copy Trading:Yes
Minimum Trade:$50 – $1000 (less with leverage)
Mobile App:iOS, Android
Web Platform:Proprietary
Countries not available:Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria and Venezuela (full list)
Deposit Methods:Bank Transfer, Maestro, Visa, MasterCard, Diners Club, PayPal, Skrill, Neteller
Withdrawals:3 – 8 days
Islamic Account:Yes
Regulated by:FCA, CySec, FinCen, ASIC
Our Score:4.9/5

eToro trading platform main appeal is social copy trading. This allows users who don't want to trade, to copy trades of successful investors. They allow for this sort of engagement between peers by providing a messaging feature, a social media feed, and other similar add-ons that we will explain in further detail. Fully automated trading systems are not permitted.

The eToro trading platform has facilitated more than 300 million trades. The company is expanding its operations, focusing on entering the Asian markets to provide brokerage services to China and Hong Kong.

Here is a list of eToro subsidiaries registered:

  • United Kingdom: eToro U.K. Ltd. regulated by Financial Conduct Authority (FCA)
  • Australia: eToro AUS Capital Pty Ltd. regulated by Australian Securities and Investments Commission (ASIC)
  • Cyprus: eToro (Europe) Ltd. regulated by Cyprus Securities and Exchange Commission (CySEC)
  • United States: eToro USA LLC regulated by US FinCEN
Easy Account OpeningCFD and Forex Fees
Website and Mobile AppWithdrawals can Take Longer Than Usual
Best Social Trading Platform
Great for Crypto Trading

Why should you read this review?

We researched and wrote this comprehensive eToro analysis. It will help you save time in reviewing what they offer before you make your final decision. You should use this to compare certain key features and characteristics. You then short-list them and give them a try through their demo – if available – to choose the one you will use to conduct your trades.

There are many details to consider. It may seem overwhelming as you have to figure out which one provides competitive fees, the best customer service, user-friendly interface, and, of course, you want to make sure your money is safe.


eToro offers a variety of investment products including stocks, fiat currencies, commodities, exchange-traded funds, and 15 cryptocurrencies, among others. You trade some via CFDs and some as actual assets.

They were one of the first online brokers to offer a social trading feature. They pioneered the trend. These days many rivals are offering similar alternatives. eToro continues to lead the way in this field. Social trading is a combination of a social-media-like environment where people connect and chat. Other traders can follow them and check out see their performance and what instruments they are trading. They have introduced two innovative products in this field: CopyTrader™ and CopyPortfolios™.

They gained their reputation as a safe and attractive broker for both experienced and beginner day traders. Top that with eToro platform low fees and user-friendly interface and you have a . A great eToro alternative is Interactive Brokers or Plus500. Forex traders should read our reviews of Pepperstone and AvaTrade.

eToro raised $100 million in private equity led by China Minsheng Financial, Korea Investment Partner, SBI group, and other investors.

In 2019 they launched a crypto trading exchange called eToroX, regulated by the Gibraltar Financial Services Commission ( Gibraltar FSC) and registered with FinCEN as a Money Service Business.

Countries where eToro is Popular

eToro trading platform is popular in many countries. Here are the most popular locations where investors trade with them.

eToro Singapore Review

eToro platform is a popular choice for traders in Singapore. It offers an easy access to zero-commission stocks, cryptocurrencies, and copy trading for Singaporean investors. We ranked eToro #1 Trading App in Singapore for 2021.

eToro USA review

So is eToro a good choice for US traders? Since 2018 eToro USA offers its services to US residents. US investors have three options: manual trading, using the CopyTrader™, or copy a portfolio of digital currencies through Copy Portfolio.

At the moment, US clients can copy portfolios of other US clients. Although copying is only limited to other US traders, there is still enough choice. The minimum to copy is $500 and the maximum is $500,000.

They offer a variety of educational resources, wallet storage and support debit cards. However, the selection of cryptocurrencies is limited, and no margin account is available.

Currently, eToro USA is not available to residents in:

  • New York
  • Delaware
  • Minnesota
  • New Hampshire
  • Nevada
  • Puerto Rico
  • Tennessee
  • Hawaii
  • Guam
  • American Samoa
  • US Virgin Islands

Web-Based Platform

Dashboard - eToro

They have a web-based and a mobile platform, however no desktop platform is available.

Their interface has 26 different languages available. It looks polished and modern, appealing to a young audience in opposition to the classic shares trading offered by other brokers.

One downside is that the workspace is not customizable. Traders have to feel comfortable with the interface as is.

eToro Mobile App

eToro mobile app
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Disclaimer: CFDs are complex instruments that 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. Make sure you understand how CFDs work and if you can afford to take the high risk of losing your money.

Both the web platform and mobile app – offer a two-step login, which increases their level of security for users. Search functions are predictive. They allow traders to browse through the large number of available securities on their mobile devices.

Both versions include real-time market price alerts and notifications and can be sent via push notifications.

Reports are available under the portfolio tab. Traders can find a summary of their trades, their market value, and the fees paid. An account statement is available, summarizing the operations made during a certain period.

Minimum Trade Size

The minimum trade size at eToro as of December 6th, 2020

MarketMinimum Trade Size
Stocks and ETFs$50
Copy Trading$1

*The minimum trade size includes leverage. If an eToro user wants to open a position on oil (commodity – $1000 minimum), they can open it with $100 using 10x leverage. The minimum to copy a trader is $200 and the minimum for each copied trade is $1.

Active and high-volume trades will need to look elsewhere, as the small maximum trade sizes will not suffice most.

eToro Fees

eToro trading costs are on the low-end of the industry. They don't charge fees for US-listed stocks. CFD fees are low and they are built into the spread.

For stock indexes, the S&P 500 CFD fee is 0.75 while the Europe 50 CFD fee is 3.

Cryptocurrencies have a spread from 0,75% to 5%. You get ownership of the asset, unless trading under ASIC (Australian Securities & Exchange Commission).

Currency pairs are expensive to trade, as the cost of trading EUR USD is 3 pips while many other brokers charge between 0.6 and 1 pip per trade. Traders looking for forex brokers are better off elsewhere. Higher spreads are not great for active or high-volume traders.

Deposit fee

There is no deposit fee with eToro. Most brokers don't charge a fee for depositing money.

Withdrawal fee

eToro has a $5 withdrawal fee for bank transfers. This is in line with industry standard.

Inactivity Fee

eToro charges $10 per month in inactivity fees. if the user fails to log into the account for 12 months. For overnight rollover fees it depends based on current market conditions.

Order Types

eToro has four types of orders available:

  • Market: a market order is executed at the price quoted at the moment the order is placed.
  • Limit: this order sets a maximum or minimum price at which the financial asset class should be bought or sold.
  • Stop-loss: this order is executed once the price of the security reaches a certain level.
  • Trailing stop-loss: an order that allows the trader to lock in gains as it executes the sale of the asset only if the price goes down (or up for a short-position) to a certain point, while it remains inactive while the price keeps moving in favor of the trade.
eToro Order Types

Markets & Products

eToro offer hundreds of available investments. These include currencies, indicies, ETFs and 15 cryptocurrencies. Each asset class is traded with different investment strategies. Equity trading is not available. Their offering of investments is more than decent. It is diverse enough to be considered satisfying for most traders.

With eToro you trade stocks and cryptos. You can hold these assets directly and not via CFDs. They support a wide variety of Exchange-Traded Securities and offer $0 commission on US Stocks and fractional shares.

Is eToro good for cryptocurrencies?

eToro is one of the best brokers for cryptocurrency traders, offering a large portfolio of major cryptos for traders who want to focus on this particular market. *Trading cryptoassets is not supervised by any EU regulatory framework.

Popular cryptocurrencies available:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Ripple (XRP)
  • Dash
  • LiteCoin (LTC)
  • Ethereum Classic (ETC)
  • Cardano (ADA)
  • Stellar Lumens
  • plus 85 more…


eToro has CFDs for other financial markets including commodities and stock indexes along with certain asset management solutions, such as Copy Portfolios™ and Copy Traders™ solution. CopyPortfolios is a innovative feature that groups different traders into a single fund others can copy. CopyPortfolios are great for eToro clients who are looking for a passive way to investing.

Cryptocurrency trading is available through CFDs and through trading the actual underlying asset (“physical”). Crypto CFD trading is not available to UK etoro clients (FCA crypto CFDs derivates ban). Cryptocurrency trading is not available in The Netherlands, France and French Territories, and Russia.

Copy Trading With eToro

The Copy Portfolio™ allows traders to copy other traders. It allows you to copy successful strategies. The platform takes charge of the account and modifies the user’s portfolio based on the changes that the copied portfolio makes over time.

In order to start copy trading on eToro, follow the steps below:

  1. Choose a trader based on performance, assets, risk score, and more
  2. Set an amount you wish to copy with
  3. Click Copy and you are done
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The Copy Trader lets you browse through a list of traders and pick the best performing traders to copy their portfolios. This is attractive for passive traders and for inexperienced traders to merge self-directed trading and copy trading. Traders that are starting out can get insights from successful traders.

The copy trading structure on eToro is only manual, as fully automated trading system like the ones available on MetaTrader, are not permitted. This is good to know, as you can be sure that when you copy a trader, he is making those trades manually. Many other social trading platforms permit both manual trading and automated strategies.

eToro Wallet

The eToro Mobile wallet app is a secure digital wallet with over 120 supported cryptocurrencies. The multi-crypto wallet offers secure buying, receiving, and storing of crypto. The eToro Wallet looks and feels similar to the Mobile app.

Research and Technical Analysis eToro Trading Tools

eToro has technical analysis tools along with some recommendations by analysts, but lacks on the fundamental data. Charting tools are good, with more than 70 technical indicators and charts. The longest time span permitted by the charting tool is 6 months. These tools allow you to analyze prices.

Research tools have the economic calendar, news, daily market analysis series, podcasts, earnings reports.

Market Sentiment Data: Each financial asset has its own market sentiment data. It indicates the percentage of traders inclined to buy and sell the security. The sentiment data is calculated only from the trades of top traders at eToro, which is a better way to calculate it. You can find comments from analysts for certain popular assets.

The news feed is limited to tweets and comments from traders within the eToro ecosystem. This is a public news feed from eToro users. The content from the in-house staff tends to be of higher quality. No major media outlet such as Reuters or Bloomberg is included.

The fundamental data provided consists of basic financial ratios. No historical record of balance sheets, income statements, price targets, or earnings estimates included.

When it comes to cryptocurrency tools, users can find crypto trading ideas, copy individual traders or a group of traders across 94 supported cryptocurrency pairs.

Their main strength is its hands-off trading and the community to share ideas. No relevant third-party analysis is offered.


eToro trading academy learning lab

Education tools is just ok at eToro. The educational material offered includes weekly webinars, video platform tutorials and frequently asked questions. These include basic platform tutorials, beginners trading guides and some advanced tutorials.

Platform Educational Content

eToro has a details section next to instruments on their platform. The details really provide more than just the basics and list into extra information. For example, you can find information about the instrument itself and what to consider before trading.

Trading School

eToro features a “Trading School” where you can find a series of basic videos. These do not go in-depth into any particular topic, and I didn't find them particularly useful. They also have a YouTube channel where you can find past webinars and other educational content. The YouTube channel features analysis videos, webinars, and other tutorials.

The demo account helps beginners in their process of learning without having to invest real money.

Customer Service

Customer Service

eToro customer support is decent, though it lacks in a few areas. The help center features a live chat feature but it is a bit hidden within the FAQ section. Traders have reported that representatives are busy and no attention is available during the weekends. There’s no e-mail or phone support, as this broker relies on support tickets sent through the trading interface. The response to these tickets is sent to the e-mail inbox of each user. The response time is fast – 24 hours or less. Their customer service is not the best, but it is sufficient to deal with basic issues.


eToro Withdrawal Methods
Withdrawals at eToro

Withdrawing money is easy. They charge a $5 withdrawal fee. It requires a minimum amount of $30 per withdrawal. Clients withdraw to a bank card, electronic wallet, or bank account. Withdrawing money to a account that has a base currency different than the US dollar will result in an extra conversion fee.

For cyptocurrencies, their wallet is available (eToroX), which is a multi-currency crypto wallet.

Credit, debit card, and electronic wallet withdrawals are instant, bank account transfers take up to 2 business days.

How to Open an Account?

Opening a new account is simple and fast and it is done 100% online. It will take a few minutes to go through the registration. You can take a look at the web platform if you have not yet registered.

Their trading services are available in most countries. There’s a sizable list of countries that are banned from opening an account with them. These countries include Albania, Canada, Cuba, Iran, Iraq, Jamaica, Japan, Nicaragua, Pakistan, Syria, and Serbia. U.S. customers outside the US territory cannot open an account with eToro.

Account types

There are two types available – traders have a retail or a professional account .


Retail Traders get access to all the assets and copy or manual trading. Leverage is restricted, but coverage by the investors compensation fund and negative balance protection is available.

Professional Clients

For a professional traders have to pass a test to determine their qualification. ESMA investor protection like the Investor Compensation Fund and recourse to the Financial Ombudsman Service is not available. As a professional client you get access to leverage.

eToro Demo Account

A demo account is available with a balance of $100,000. Traders start virtual trading with virtual funds to get to know the platform. The account comes with real-time prices so it is a great way to practice.

For successful traders they have a program called the popular investor. The Popular Investor Program is great for traders that allow others to copy their strategies and has four levels.

Verification Process

Before you deposit money you will have to go through an ID verification process. It will require proof of identity and proof of residency. The process takes less than a day to be completed when they recieve all the required documents. You’ll have to take a quick survey intended to assess your trading knowledge and experience.


Depositing money is easy and there are no deposit fees.

Deposit Methods

Deposit Methods
eToro Deposit

You can deposit money with debit or credit cards or an electronic wallet such as PayPal or Skrill. Funds are credited instantly. Bank transfers take up to 7 days to clear. They are adding adding more funding options in the near future.

eToro Minumum Deposit

The minimum deposit at eToro is $50. The minimum first deposit was reduced in United Kingdom, Switzerland, Italy, Sweden, Ireland, Spain, Netherlands, Germany, Austria, Norway, France, and Australia.

There are the following exceptions:

  • For clients in Israel is $10,000.
  • For clients in Russia, China, Hong Kong, Taiwan, and Macau is $500.
  • For bank transfers, the minimum deposit is $500.

The professional account requires the same minimum investment. It allows the user to take on more leverage for transactions. The trader has to meet certain criteria to qualify as a professional client. They sometimes require that the first deposit is made via a debit or credit card. Subsequent deposits are made using other methods accepted. One downside of this broker is that they offer one single currency base for its accounts, the US dollar. Other brokers offer five or more different base currencies for their.

eToro traders must pay a conversion fee if they deposit funds by using a payment method that features a currency different than the US dollar. Conversion costs start at 50 pips, which is around 0.46% of the amount deposited. You can only deposit money from accounts in your name.

Is eToro Safe?

What do we think about the Safety of eToro?

eToro is safe and reliable. eToro operates in accordance with tier-1 financial regulators, including FCA, ASIC, CySEC, and FinCen. On eToro, clients' funds are kept secure at trusted banks, and their personal information is protected under an SSL certificate. You should always look for security signs when trading through your browser.

  • eToro is safe and regulated by the top financial authorities. eToro is overseen by tier-1 financial regulators. These include The Financial Conduct Authority of the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), the US FinCEN, and the Australian Securities and Investments Commission (ASIC).
  • eToro respects clients privacy. Your data is never shared or sold with third-parties.

UK investors are protected by the Financial Services Compensation Scheme (FSCS). European investors under eToro Europe are protected by the Investor Compensation Fund designed for Customers of Cypriots Investment Firms up to €20,000.

eToro is not listed on a stock exchange and not a publicly-traded company. The company is planning to go public soon.

eToro Regulation
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Disclaimer: CFDs are complex leveraged derivatives that 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. Make sure you understand how CFDs work and if you can afford to take the high risk of losing your money.

They offer zero-fee stocks for US-listed securities. This is a great advantage and puts them on top of many of its rivals.

Their fees for CFDs are below the market average, even though its forex broker fees are higher compared to other brokers.

Their social interface has an incredible design and it is a captivating alternative for those who are starting out their journey. Traders can connect with more experienced peers or seek potential ideas to start off by using the social feed.


eToro is a legit and safe, zero-commission stock broker. It has a simple, easy-to-use platform, and a great mobile trading app. eToro offers investing in stocks, CFDs, forex pairs, and ETFs. It is best for copy and cryptocurrency trading. Account opening is easy and customer support is good.

This broker operates in more than 140 countries and has over 11 million clients. There are 30 countries banned.

In the United States, users from registered states can sign up and trade cryptocurrencies. The demo comes with a balance of $100,000. You have to complete ID verification, before depositing money.

eToro is a multi-asset broker that offers a decent selection of US-listed stocks, currency pairs, cryptocurrencies, and CFDs. They offer 26 different languages. Charting tools include more than 70 technical indicators. It is a great broker for less experienced traders who require a bit more handholding. However, for active or high-volume traders, it is not the best, due to their high spread and small maximum trade size.

eToro Logo

Our Score: 4.8/5

  • Best For Social Copy Trading
  • 0% Commissions on Stocks
  • Regulated by top-tier Authorities
  • Easy to Use
  • Great Variety of Investments
Visit eToro >>

Disclaimer: CFDs are complex leveraged derivatives that 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. Make sure you understand how CFDs work and if you can afford to take the high risk of losing your money.


How does eToro make money?

eToro makes money in 3 different ways. They operate as a market maker brokers utilizing a NDD – STP hybrid model. They make money from traders losing trades and are audited to ensure market fairness. The second way they make money, is through CFD fees and commissions. They also make some money from non-trading fees, like withdrawal fees and inactivity fees.

Is eToro Trustworthy?

eToro was established in 2007 and is licensed in many top-tier jurisdictions. As a regulated financial services company, they are audited and monitored regularly. It is trusted by over 15 million traders in over 170 countries. The company recently merged with FinTech Acquisition Corp. V to become a publicly traded company. Once this is done, it will be listed on the NASDAQ stock exchange, which goes to show it is a trusted company.

What Type Of Broker is eToro?

Just like most trading firms and banks, eToro is a market-maker. Depending on which eToro entity you are trading with it can act either as a market-maker or agency broker. They use this model and combine it with best aspects of STP (Straight-Through Processing) and NDD (Non Dealing Desk) practices. This way they provide high quality execution.

Is eToro good for beginners?

Based on our analysis and research, eToro is great for beginners. The eToro trading platform is easy to use, intuitive, with clear fees and a safe login. Some instruments can be traded for free. eToro offers a demo account, low minimum deposit and a great mobile trading platform, which makes it perfect for beginners.

Can You Make Money on eToro?

Yes, you can make money on eToro. However, just like with any other broker, you need to know what you are doing. If you want to make money eToro you have to make smart trading decisions and keep your average losses smaller, compared to average profits. What sets eToro apart from the competition is the copy trading capabilities, which can be better for in-experienced traders.

More About eToro

eToro is a pioneer when it comes to social copy trading. It was founded as RetailFX. In 2010 eToro released their OpenBook social investment platform with their Copy Trading feature.


As part of eToro growth, between 2007 and 2013, they raised $31.5 million through four rounds of funding. Further, they raised $27 million from Chinese and Russian investors in December 2014.

Since its launch in 2006, eToro has grown and is now offering its services to traders to over 15 million users around the globe.

Marketing and Sponsorship

In August 2018, eToro started sponsoring seven UK premier league teams including Tottenham Hotspur, Newcastle United F.C., Cardiff City F.C., Brighton & Hove Albion F.C., Crystal Palace F.C., Leicester City F.C., Southampton F.C.. In 2019 Aston Villa F.C. and Everton F.C. joined.

In 2019 eToro expanded its sponsorship to the American KTM team of Moto GP, UFC (Ultimate Fighting Championship), German football club Eintracht Frankfurt, and French tennis player Gael Monfils. In 2020 eToro launched 12 more sponsorships with Danish, UK, German and French sport clubs. Sponsorship of West Bromwich Albion, FC Ausburg, Burnley F.C., FC Cologne, Hamburger SV, Union Berlin, VfL Wolfsburg, FC Midtjylland, and AS Monaco were part of the sponsorship expansion.


eToro is a brokerage firm that offers CFDs, stocks and cryptocurrencies. You should be aware that CFDs are complex instruments and come with a risk of losing money due to leverage. Please note that 67% of retail investor accounts lose money trading CFDs. You should understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptocurrencies are volatile instruments and are not appropriate for all investors. Cryptocassets trading is unregulated and not supervised by European regulators.

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.