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eToro Broker Review

FX Scouts By Jeffrey Cammack Updated: September 12th, 2019
Average Score
3 / 5
Min. Deposit $200
Max. Leverage 400:1
Min. Spread 2.0 pips
Regulators CySEC,ASIC
Regulator Origin CySEC ASIC
Broker Type Market Maker

Summary

eToro is perhaps most famous for being the leading social Forex broker, which encourages traders to follow successful CFD and fund traders and copy their trades.  eToro has developed a smooth trading platform to supports this social experience.  While eToro does not offer the same low spreads as many other brokers, the benefits of this platform, the 24-hour customer service and the automated trading, make it well worth it.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Bonuses N/A
Beginner Friendly Good
About our review process

Trading Conditions

Minimum Deposit $200
Base currencies USD, EUR, GBP, AUD
Number of FX Pairs 47
Hedging Allowed
Scalping
Swap-Free Accounts

Average Spreads

EUR / USD 3
GBP / USD 4
USD / JPY 2

Company Details

Company name eToro (Europe) Ltd.
Founded 2006
Website Visit Website
Type Market Maker
Regulators CySEC,ASIC
Office locations UK, US, China, Cyprus, Australia, Israel

Deposit & Withdrawal Methods

Supported Platforms for eToro

eToro Broker Detailed Review

Account Types

eToro offers two main types of accounts namely: the demo account and the real account which follows a tiered service model.

  • Bronze Trading Account – 500 USD minimum deposit.
  • Silver Trading Account – 1,000 USD minimum deposit.
  • Gold trading Account – 5,000 USD minimum deposit.
  • VIP trading account – 20,000 USD minimum deposit.
  • Islamic Swap-Free Account – 1,000 USD minimum deposit.

Islamic Accounts

eToro offers free riba-compliant Islamic accounts.  In order to get activate this account type, follow the normal sign up procedure, and fund your account with a minimum of 1,000 USD.  Following this, contact customer service and they will make the necessary changes.

Cryptocurrencies

eToro is one of the leaders in trading cryptocurrencies online, and the platform offers traders a unique trading experience.  As of the time of the last update, eToro offers 15 cryptocurrencies for CFD trading including Bitcoin, Dash, Etherium, Litcoin, and others.  eToro plans on introducing more cryptocurrencies in the future as they become of interest to the trading community.

eToro crypto offering 2019

Because eToro is a social platform, when you zoom in on a currency with is Bitcoin, in this case, you can find a feed full of commentary and questions, the all-important stats, and a chart to do your analysis.

Trading Platforms

eToro has a version of its trading platform for browsers and mobile devices.  The eToro Mobile Trader app is for the traders who use mobile devices to trade and is available for IOS and Android.

Deposit & Withdrawal

Deposits are possible with credit cards, debit cards, Neteller and Union Pay. All accounts wallets are in USD, so clients depositing from non-USD accounts will be charged a conversion fee.

Company & Regulation

eToro has acquired licenses to allow accept clients in CFD trading. Among the various regulating bodies that eToro has registered with are:

eToro was established in 2006 and its headquarters are in Limassol, Cyprus. It also has other offices in other different cities like London, UK and Tel Aviv, Israel.

Most retail CFD accounts lose money. Your capital is at risk.

Compare Brokers

Overall Rating 3/5 4/5 4/5
Minimum Deposit $200 $100 $100
Regulation
CySEC CySEC
ASIC ASIC
CySEC CySEC
ASIC ASIC
FSCA FSCA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
Broker Type Market Maker Market Maker Market Maker
Read Full Review Read Full Review
Trading Conditions 3 / 5 4 / 5 4 / 5
Trading Platforms 3 / 5 3 / 5 3.5 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
% Lose with this broker 76% of retail investor accounts lose money when trading CFDs with this provider 76.60% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage 400:1 300:1 400:1
Spread 2.0 pips 0.9 pips 0.7 pips
Hedging
Scalping
Account Types
  • Standard
  • Mini
  • Islamic
  • Standard
Trading Platforms eToro platform MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Methods Mastercard, Visa, UnionPay, Neteller Mastercard, Visa, Maestro, Neteller, Skrill, Paypal, Bank Transfer Mastercard, Visa, Neteller, Skrill, PayPal, Bank Transfer
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eToro

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Markets.com

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AvaTrade

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Overall Rating 4 / 5 4 / 5 4 / 5
Min. Deposit $200 $100 $100
Regulation
CySEC CySEC
ASIC ASIC
CySEC CySEC
ASIC ASIC
FSCA FSCA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
Broker Type Market Maker Market Maker Market Maker
Read Full Review Read Full Review Read Full Review
Trading Conditions 3 / 5 4 / 5 4 / 5
Trading Platforms 3 / 5 3 / 5 3.5 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
Risk Disclaimer 76% of retail investor accounts lose money when trading CFDs with this provider. 76.60% of retail investor accounts lose money when trading CFDs with this provider. 71% of retail investor accounts lose money when trading CFDs with this provider.
Leverage 400:1 300:1 400:1
Spread 2.0 pips 0.9 pips 0.7 pips
Hedging Allowed Yes Yes Yes
Scalping Allowed No Yes Yes
Platforms eToro platform MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Mastercard, Visa, UnionPay, Neteller Mastercard, Visa, Maestro, Neteller, Skrill, Paypal, Bank Transfer Mastercard, Visa, Neteller, Skrill, PayPal, Bank Transfer

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.