eToro App Review
4.3

eToro App Review

eToro is a social trading app which offers Forex, Crypto, Stock & Commodity trading.
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eToro is a social trading platform for Forex, Crypto, Stocks & Commodities.

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General Information
AppeToro
Website URLetoro.com
Founded2007
IntrumentsForex, Crypto, Stocks
HeadquartersCyprus
LanguagesEnglish, French, German, Italian, Spanish
Trading PlatformsWeb & Mobile Apps
Minimum Deposit$50
Maximum Leverage30x
Demo Account
Regulated
Pros & Cons
ProsCons
  • Easy To Use
  • High Security
  • Educational Information
  • Large Spreads
  • Limited Charting Tools

Introduction

Editor’s Note

Welcome to the tradingapps.org review of eToro. Before we get started, I would like to personally reccomend eToro – it is a great trading app and deserves to be up there with the highest rated platforms. The social features which define eToro are not only unique, but also provide traders with a new edge which can be extremely valuable in the modern markets.

What is eToro?

eToro is a social trading platform which offers a varied range of CFD products. The company is based in London yet offers trading to 60 countries worldwide. It is one of the most popular trading apps in the world because of it’s simple to use interface and special social features.

Features

  • Social platform
  • Demo account
  • ‘CopyTrader’
  • IOS & Google Play Apps
  • Clean interface
eToro Promotional Video

Trust & Safety

Is eToro safe?

Yes. eToro is a safe trading app in our opinion. It is fully regulated in several countries and uses the best security practices for your data and funds.

  • Regulated by FCA, AFSL & ASIC
  • All funds are held in Tier 1 European Banks
  • Highest standards of cybersecurity

Trading & Account

What can you trade on eToro?

  • Forex
  • Crypto
  • Stocks
  • Commodities

Account Types

eToro offers 2 main account types which are listed below.

  1. Regular eToro Account – trade all assets on eToro
  2. eToro Club Account (Silver, Gold, Platinum, Platinum + & Diamond)

Regular eToro Account

The regular eToro account provides you with access to the whole eToro trading platform & app.

  • 0 trading fees
  • Customer support
  • CopyTrader AI bot

To register for a regular eToro account, use this link.

eToro Club Account

eToro club members receive everything that eToro regular account holders get and a whole bunch of added extras. In order to upgrade to an eToro Club Account, you have to register for a Regular eToro Account first. The eToro Club Accounts are tiered starting from Silver right up through to Diamond with different benefits associated with each tier.

  • Account manager (Silver and above)
  • Live webinars (Gold and above)
  • Credit line (Gold and above)
  • No withdrawal fees (Platinum and above)
  • Exclusive trading signals (Platinum and above)
  • First access to new products (Platinum and above)
  • Invitation to eToro Diamond Gala event (Diamond only)

To learn more about eToro Club Accounts, click here.

Leverage

eToro offers leverage trading for all instruments on the platform. This basically means that you can trade with more than you deposit. You’re probably thinking: “Great! More profits then.”. But be careful, this also means that you can lose more – it’s the nature of leverage trading and should only be used by those who know how to use it.

Retail account holders can trade with up to 30x their margin (balance). The amount of leverage you can use varies depending on what you’re trading. See a more detailed explanation of leverage on eToro.

How to register on eToro

Time needed: 10 minutes.

See the instructions below to open an account on eToro today.

  1. Go to website

    Click on this link to go to the eToro sign up page.

  2. Register

    Fill in your personal details or alternatively, click the buttons to register with Facebook or Google.

Demo Account

The eToro social trading platform offers a demo trading account for $100,000. This allows you to use all the features of the trading platform without risking your money!

Open an eToro demo account here

Fees

eToro offers very competitive fee rates across their products. See the table below for a breakdown of the eToro fees.

eToro Fees
Deposit Fees0
Withdrawal Fees$25
Trading Fees0
Overnight Position FeesVaries depending on instrument(view all fees)
Wire Transfer Deposit Fee (if conversion necessary)50-250 pips (see this page for more info)

Deposit & Withdrawal

Deposit Methods

There is a wide range of deposit options available on eToro, each have different regulatory bodies and maximum deposit amounts. Use the table below to find the most suitable deposit method for you.

eToro Deposit Methods
Deposit Method Maximum at onceAvailable
Credit/Debit Card$40,000 USDInstantly
Union Pay$20,000 USDInstantly
Giropay$30,000 USDUp to 1 business day
Neteller$10,000 USDInstantly
PayPal$20,000 USDInstantly
Skrill$10,000 USDInstantly
WebMoney$50,000 USDInstantly
Wire TransferUnlimited3-5 business days
Yandex (Russia only)5000 RUBUp to 5 business days
ACH$50,000 USD2 business days

How to deposit on eToro

For the eToro Desktop App (laptops & computers): Go to the left hand side and at the bottom, you will see a button saying ‘DEPOSIT FUNDS’, click there and proceed with your deposit.

For the eToro Mobile App (iPhone, Samsung etc.): Go to your account by clicking ☰ in the top left hand corner. pop-up should slide from the right with options. Click on the button at the bottom named ‘Deposit Funds’ and then proceed with your deposit.

Minimum Deposit

The minimum deposit on eToro varies depending on your region & country regulations from $50 – $1,000.

Are there any deposit fees on eToro?

No – there are no deposit fees on eToro unless you deposit in a alternative currency at which point you may be charged for currency conversion. For more information on the currency conversion fees, click here.

Withdrawal Methods

Your eToro funds will be withdrawn to the same account/method you used to deposit, for example: James deposits $5,000 USD on eToro using PayPal, after weeks of trading his balance now sites at $7,890 and he wishes to withdraw this amount from his account. He then initiates a withdrawal to the same PayPal account and receives t $7,865 (-$25 withdrawal fee). Therefore, the withdrawal methods are the same as the deposit methods listed above.

How to withdraw from eToro?

For the eToro Desktop App (laptops & computers): Go to your account section on the left hand side and scroll down to the ‘Withdraw Funds’ option. Here, you can proceed with your withdrawal ($50 USD minimum).

For the eToro Mobile App (iPhone, Samsung etc.): Go to your account by clicking ☰ in the top left hand corner, then select ‘Withdraw Funds’ and proceed with your withdrawal ($50 USD minimum).

Minimum Withdrawal

The minimum withdrawal on eToro is $50 USD.

Are there any withdrawal fees on eToro?

Yes – there is a standard $25 USD withdrawal fee on eToro.

Bonuses & Promotions

eToro does not offer any bonuses or promotions that we are aware of, although, we’ll keep an eye out for you! You can check out other top trading bonuses & promotions on this page.

Customer Support

eToro has a brilliant customer service team dedicated to help resolve any issues you may have with the platform.

eToro Support
Emailsupport@etoro.com
Live ChatLive Chat

eToro FAQs

?️ Is eToro regulated?

Yes. eToro is regulated by CySEC, FCA & the Commonwealth Corporations Act

✅ Is eToro legit?

Yes. eToro is fully regulated an uses the best security practices to ensure your funds and data are kept safe.

❓ What is eToro and how does it work?

eToro is a social trading platform (similar to a broker) which offers CFD trading for Cryptocurrencies, Forex, Stocks & Commodities with 0% fees. It works by providing a platform for traders to make trades on several different markets, all within 1 place.

? How does eToro make money?

eToro makes money in a few main ways. Firstly, through their Club membership which has an additional cost. Secondly, through the spreads in the market (difference between the buy & sell price). And lastly, by charging traders to hold positions overnight.

? Is eToro good for beginners?

Yes. eToro is a suitable trading platform for beginners, they provide a wide range of educational information along with a simple to use interface.

? Who owns eToro?

The CEO & Founder of eToro is Yoni Assia.

? Does eToro pay dividends?

Yes. eToro pays dividends on stocks & shares. For more information about eToro & dividends, see this page.

? What happens if eToro goes bust?

Like many companies, if eToro goes bust, you are at risk of losing some or the entire balance of your account. If you are looking for a broker which protects your funds, check out Trading 212
where your funds are protected up to the value of £85,000.

eToro App

eToro offers both mobile and desktop apps which are very easy to use and extremely responsive. See the instructions below to get started with the eToro app.

Download eToro App for iPhone

  1. Register an account at eToro
  2. Go to the App Store & search ‘eToro’
  3. Select the app and click ‘Get’
  4. Once your download is complete, simply open the app, sign in and start trading

Download eToro App for iPad

  1. Sign up to eToro
  2. Visit the App Store on your device and search for ‘eToro’
  3. Choose the app from the search results and proceed to click ‘Get’
  4. After a few moments, open the app, sign in, deposit and start trading

Download eToro App for Android

  1. Register for an eToro account (2 minutes)
  2. Go to the Google Play Store & search for ‘eToro’
  3. Select the correct app and press ‘Install’
  4. Once it has finished download, open the app and login.
  5. Deposit and start trading.

Conclusion

In conclusion, eToro is an easy to use trading app suitable for beginner to intermediate traders, or those who just like to have a dabble in the financial markets! eToro has plenty of unique features which make it one of the best trading apps in the world. We especially like their ‘CopyTrader’ technology which lets you follow some of the best traders automatically with just a few clicks. If you would like to give eToro a try, you can open a free practice account in just a few moments today.

eToro App Review
4.7
Final Score
eToro
No bonuses available
Read Review
5.0
Trust & Safety
4.0
Fees
5.0
Customer Support
3.0
Bonuses & Promotions
4.3 Overall Rating

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Final Score

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