eToro is a social trading application, offering services in currencies, commodities, indices and CFD stocks. It allows users to watch the financial trading activity of other users, and copy them to make their own trades. Clients allow their trades to be uploaded to the eToro network where they are displayed. Other users can then set their accounts to follow these traders, for the the eToro system to copy each trade made into the followers account. This eToro review looks at the company and its services
eToro (Europe) Ltd is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC). eToro(UK) Ltd is authorised and regulated by the Financial Conduct Authority (FCA).
Spreads and Leverage
Leverage up to 1:400 for Forex
Summary of Spreads:
|Euro/US Dollar||EUR/USD||3 Pips|
|Australian Dollar/Swiss Franc||AUD/CHF||4 Pips|
|Australian Dollar/Canadian Dollar||AUD/CAD||4 Pips|
|Australian Dollar/New Zealand Dollar||AUD/NZD||4 Pips|
|British Pound/US Dollar||GBP/USD||4 Pips|
|New Zealand Dollar/US Dollar||NZD/USD||5 Pips|
|US Dollar/Canadian Dollar||USD/CAD||3 Pips|
|US Dollar/Japanese Yen||USD/JPY||2 Pips|
|US Dollar/Swiss Franc||USD/CHF||3 Pips|
|Australian Dollar/US Dollar||AUD/USD||4 Pips|
|Euro/British Pound||EUR/GBP||4 Pips|
|Euro/Swiss Franc||EUR/CHF||5 Pips|
|Euro/Japanese Yen||EUR/JPY||4 Pips|
|British Pound/Japanese Yen||GBP/JPY||6 Pips|
|Euro/Australian Dollar||EUR/AUD||7 Pips|
|Euro/Canadian Dollar||EUR/CAD||7 Pips|
|Australian Dollar/Japanese Yen||AUD/JPY||5 Pips|
|New Zealand Dollar/Canadian Dollar||NZD/CAD||4 Pips|
|New Zealand Dollar/Swiss Franc||NZD/CHF||4 Pips|
|New Zealand Dollar/Japanese Yen||NZD/JPY||4 Pips|
|Canadian Dollar/Swiss Franc||CAD/CHF||14 Pips|
|Canadian Dollar/Japanese Yen||CAD/JPY||6 Pips|
|Swiss Franc/Japanese Yen||CHF/JPY||6 Pips|
|US Dollar/Hong Kong Dollar||USD/HKD||7 Pips|
|US Dollar/Ruble||USD/RUB*||3 Pips|
|US Dollar/Yuan||USD/CNH*||10 Pips|
|Euro/New Zealand Dollar||EUR/NZD||4 Pips|
|British Pound/Australian Dollar||GBP/AUD||4 Pips|
|British Pound/Swiss Franc||GBP/CHF||4 Pips|
|British Pound/New Zealand Dollar||GBP/NZD||4 Pips|
Promotions and Bonuses
eToro Invite a Friend (subject to T&C’s): For each friend invited who deposits at least $500, eToro will fund your account with $100 and give a $200 deposit bonus to your friend.
Deposit $300 to $999 get $100 credit
Deposit $1000 to $2499 get $300 credit
Deposit $2500 to $5000 get $1000 credit
Deposit $5000+ Contact eToro
Customer service desk available 24 hours, Monday to Friday. Full Knowledge Base website available with Online guides, FAQ’s etc. Contact via (a) customer service wall live chat within the Social Trading Environment, (b) logging service ticket.
The main social trading platform is eToro OpenBook, allowing you to connect with other eToro traders. It provides trader rankings and various pages with market information. You can identify traders that are of most interest, so you can follow them, receive latest updates and use the CopyTrader tool to automatically copy their trading activity.
eToro also offer a portfolio management platform called WebTrader, that gives you the tools required to manage your trading portfolio, including both copied trades or your own manual trades. The WebTrader allows you to view live rates, use eToro’s charting software, open positions and orders, change your trade settings, edit Stop Loss and Take profit orders, and manage Copy Trading activity. It is fully synchronized with eToro OpenBook activity, allowing you to monitor, manage and analyze your trading portfolio.
eToro Mobile Trader app allows you to access live rates, open and close positions, charts, set stop losses etc via your Android or iOS devices.
eToro only operates in USD. If you make non USD deposits, eg GBP or EUR, they will be converted to USD, with eToro deducting 250 pips from the market rate.
eToro provides its own educational center which provides all the information one could need on the trading markets and online trading. This includes eCourses, live webinars and trading videos.
Tools and Resources
- CopyTrader allows you to automatically copy other traders deals.
- People Discovery tool, that allows you to search and find traders that suit your profile.
- Top Traders’ insights. This takes data from eToro’s most successful traders, letting you know what markets and instruments are being traded and overall buy and sell positions.
- Economic calendar. Provides upcoming events that could impact the market. Tells you what has happened in the past, forecast what will happen and the likely impact, and the actual outcome.
- Market News. All the latest news (both fundamental and technical related) to help you make informed decisions.
- Pips Calculator. Helps convert Pips to cash so you know how much each pip is worth.
Deposit and Withdrawals
Minimum deposit is between $50 to $500 (depending on user profile) via credit card, paypal, neteller, 1-Pay, Skrill, Webmoney or GiroPay. The minimum deposit for wire transfer is $500
Maximum deposit is $5,000 for Credit Card, PayPal and Skrill. $10,000 for Neteller and1-Pay. $50,000 for Webmoney and GiroPay. There is no maximum for Wire Transfers.
There are no deposit fees from eToro for USD deposits.
There is a withdrawal fee of $5 for withdrawals between $20 and $200, $10 for withdrawals between $20.01 and $500 and $25 for withdrawals in excess of $500.
Withdrawal requests will take up to 5 business days.
EToro.com is one of the most well-known social trading platforms and you can definitely see in all they offer
Risk Warning: Investing in leveraged products carries a high degree of risk. eToro offers protective measures to manage risk effectively, but it is possible to lose more money than invested in each trade. However you can never lose more than your total balance.