eToro Review

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Who are eToro?

eToro have been in the market since 2006 and have their headquarter in Cyprus and United Kingdom. They do offer two ways of trade which is CFDs and Social Trading which is gaining popularity. They are fully regulated by the Financial Conduct Authority in the UK (FRN: 583263) and by CySEC (License: 109/10). Your funds will be safe as eToro puts all clients funds into a segregated bank account in tier-1 banks for maximum security. Before we deep dive into eToro’s details you might want to open a demo account with them so that you can also check the feedback provided directly first hand without risking any of your money.

What are eToro’s spreads and fees?

Below you will find the minimum spreads listed on eToro’s website. The colour bars show quite clearly how competitive are eToro’s spreads if compared with other popular brokers that are featured on TopTredingPlatforms.co.uk.

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eToro spread comparison

 

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Features and Account Types

eToro have two different accounts: a standard trading account and also an Islamic account which is dedicated to Muslims customers that are willing to to trade following the Shariah laws.

What is eToro trading experience?

Trading Platforms

eToro offers a number of trading platforms but surprisingly enough do not offer the popular MT4 (Meta Trader 4) that is offered by many others comparison brokers. eToro also provides a simplified OpenBook trading platform that is focused on trader performance and crowd generated data. eToro has also a WebTrader option that is dedicated to those traders that are interested in more standard features. eToro unique feature is giving the ability to copy the positions of other traders.

Surely eToro trading platform is a great fit for those beginners that can learn by using the simplified OpenBook trading platform or that can increase their chances of making a profit by copying the more experienced traders.

 

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eToro Trading Platforms

Deposits/Withdrawals

The minimum deposit amount required by eToro in a standard trading account is £50. If you are willing to use the Islamic account than the minimum is £1,000. You can deposit and withdraw very easily as they do have lots of different payments methods from bank transfer, credit and debit card and many e-wallet.

Customer Service

EToro have very good customer service which is available 24/5 via phone, chat or email. eToro’s customer service does normally receive very positive reviews from the clients and it is very reliable.

eToro Top Traders

Conclusion

As you have been able to see from this review and maybe also tried yourself with the demo account eToro is a unique broker. They like to differentiate themselves with a number of different and some unique trading platforms, low minimum deposit and top notch customer service. Generally it is a great option for any trader and it is especially indicated for beginners.

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Your capital is at risk

eToro.com Key Information

  • Established: 2006
  • Regulation: CySEC, FCA
  • U.S. Clients Allowed: NO
  • Min Initial Deposit: £50
  • Max Leverage: 400:1
  • Spreads From (EUR/USD):3 Pips (no fixed fees)
  • Pairs Offered: Over 1000

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Your capital is at risk

PROS

tickUsed by 6,000,000+ traders

tickEstablished in 2006

tickRegulated by Financial Conduct Authority, CySEC

tickMin. deposit from £50

CONS

ConsDoesn’t Offer VPS (see alternatives)

ConsNot ASIC Regulated (see alternatives)

General Fees

  • eToro does charge inactivity fees
  • eToro withdrawal fees varies on payment method

Overnight fees & swap rates

  • the roll over fee for long positions on EUR/USD is -$6.00
  • the roll over fee for short positions on EUR/USD is $0

Commissions

  • eToro doesn’t charge commission on CFD shares

Trading Features

tickOffers STPs

Accounts Offered

tickDemo account

tickMini account

tickStandard account

tickIslamic account

Are you not sure? Why not opening a demo account to to try yourself!