eToro Review: What’s Great (+ Less So) About Copy Trading With This Broker? [2022 Edition]
eToro established the first social trading platform, disrupting the online brokerage industry.
eToro allows traders to follow other traders, discuss trade ideas, and mimic the successful trading strategies of other traders in the community with its CopyTrading feature.
This eToro review provides an overview of the company, discusses the platform’s major features, and helps you determine if their services are available in .
Quick Summary of eToro Where Does eToro Operate? What Are eToro’s Trading Products? Cryptocurrency Trading eToro Account Types eToro Account Requirements eToro Spreads and Fees Withdrawing Funds From eToro eToro Trading Platform Review Can I Trust eToro? eToro’s History FAQs.
Quick Summary of eToro.
Who Is eToro Best For?
The new generation of traders who want to trade cryptocurrencies or incorporate a social community into their online trading, may find eToro suitable.
eToro was designed for traders who wish to learn from the practices of more experienced traders by taking advantage of its social platform.
Fast Facts About eToro.
__ Overview Social Trading Network _ Founded 2006 __ Product CFDs and Cryptoassets _ Markets Commodities, Cryptocurrencies, Stocks, Indices, ETFs __ Countries Served 60+ (Full list below). _ Minimum Deposit $50 in US, Australia, Ireland, Italy, Spain, Sweden, Switzerland, United Kingdom, Austria, Germany, Netherlands, Norway (Initial deposit varies by country/region) _ Fees Spread + Overnight fees. $25 per withdrawal, inactivity fee after 12 months. (Full list below) __ Regulator(s) Financial Conduct Authority (UK), Cyprus Securities Exchange Commission (Europe), FinCEN (USA), Australian Securities and Investments Commission (Australia) _ Customer Support 24-hour support 5 days a week.
Where Does eToro Operate?
eToro is an international company that operates in many countries (full list below).
eToro is an international company that operates in many countries (full list below). eToro operates as eToro USA LLC in the United States.
See all the countries eToro operates in.
Argentina Australia Austria Azerbaijan Bahrain Bangladesh Belgium Bolivia Brazil Bulgaria C_te d’Ivoire Chile Colombia Costa Rica Croatia Cyprus Czechia (Czech Republic) Denmark Dominican Republic Ecuador Estonia Finland France Germany Gibraltar Greece Holy See Hungary Iceland Ireland Israel Italy Kuwait Latvia Liechtenstein Lithuania Luxembourg Malaysia Malta Mexico Monaco Netherlands Norway Oman Peru Philippines Poland Portugal Qatar Romania Seychelles Singapore Slovakia Slovenia South Korea Spain Sweden Switzerland Thailand United Arab Emirates United Kingdom United States* (some states) Uruguay Vietnam.
See the countries that are restricted from trading with eToro.
eToro is not available in the following countries:
Afghanistan Aland Islands Albania Algeria Andorra Angola Anguilla Antarctica Antigua and Barbuda Armenia Aruba Azerbaijan Bahamas Barbados Belarus Belize Benin Bermuda Bhutan Bonaire Bosnia and Herzegovina Botswana Bouvet Island Brunei Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Central African Republic Chad Chagos Islands China Christmas Island Cocos Islands Comoros Congo Republic Cook Islands Cote d’Ivoire Crimea Region Cuba Curacao Democratic Republic of the Congo Djibouti Dominica Egypt El Salvador Equatorial Guinea Eritrea Ethiopia Faeroe Islands Falkland Islands Fiji Gabon Gambia Georgia Ghana Greenland Grenada Guatemala Guinea Guinea-Bissau Guyana Haiti Heard Island and McDonald Islands Honduras Hong Kong India Indonesia Iran Iraq Jamaica Japan Jordan Kazakhstan Kenya Kiribati Kosovo Kyrgyzstan Laos Lebanon Lesotho Liberia Libya Macau Madagascar Malawi Maldives Mali Marshall Islands Mauritania Mauritius Micronesia Moldova Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Korea North Macedonia Northern Cyprus Pakistan Palau Palestinian Territories Panama Papua New Guinea Paraguay Pitcairn Islands Russia Rwanda Saint Barthelemy Saint Helena Saint Kitts and Nevis Saint Lucia Saint Martin Saint Pierre Saint Vincent and the Grenadines Samoa San Marino Sao Tome Saudi Arabia Senegal Serbia Sierra Leone Sint Maarten (Dutch Part) Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Sudan Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Syria Tajikistan Tanzania Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine Uzbekistan Vanuatu Vatican City Venezuela Virgin Islands (British) Wallis and Futuna Yemen Zambia Zimbabwe.
eToro offers cryptocurrency trading in 38 states and two territories.
US states, districts, and territories that allow cryptocurrency trading.
Alabama Alaska Arizona Arkansas California Colorado Connecticut District of Columbia Florida Georgia Idaho Indiana Iowa Kansas Kentucky Maine Maryland Massachusetts Michigan Mississippi Missouri Montana New Jersey New Mexico North Dakota Northern Mariana Islands Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Texas United States Minor Outlying Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming.
US states and territories that don’t allow cryptocurrency trading.
American Samoa Delaware Guam Hawaii Illinois Louisiana Minnesota Nebraska Nevada New Hampshire New York North Carolina Puerto Rico Tennessee U.S. Virgin Islands West Virginia.
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. Your capital is at risk.
What Are eToro’s Trading Products ?
In the United States, eToro offers trading on stocks & cryptocurrencies.
Customers can trade crypto coins and store them in an e-wallet.
eToro offers customers access to trading two different categories of products: CFDs and cryptocurrency trading.
Contracts for Difference.
eToro lets traders buy Contracts-For-Difference (CFDs) on ETFs, stocks, indices, commodities, cryptocurrencies, and forex.
CFDs are contracts between a broker and a trader that are based on the difference in value for a particular instrument over a specific period of time. Thus, CFDs are derivatives and not the instruments themselves.
For example, if a trader opens a CFD trade on oil, they aren’t purchasing actual barrels of oil that must be shipped, distributed, and stored. Instead, the trader is speculating on whether the price of oil will rise or fall over a limited time period.
CFD Trading on ETFs.
Traders can choose from over 250 different CFDs on ETFs in a variety of categories, including:
Commodities Countries Fixed Income Geographic regions Indices Volatility products.
See all ETFs offered by eToro.
Note about eToro ETFs – your capital is at risk.
CFD Trading on Stocks.
eToro offers CFDs on stocks from the following industry categories:
Basic materials Conglomerates Consumer goods Financial Healthcare.
Industrial goods Services Technology Utilities.
Customers can also trade through an exchange. The eToro platform supports trading CFDs for the following exchanges:
Amsterdam Brussels Copenhagen Frankfurt Helsinki Hong Kong Lisbon London Madrid.
Milan NASDAQ NYSE Oslo Paris Saudi Arabia Stockholm Zurich.
eToro also offers real stocks. Important : Real Stocks/Zero stock commission – Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees/.
CFD Trading on Indices.
Traders on the eToro platform can trade CFDs for 15 indices:
Index Description AUS200 Blue-chip Australian stock index China50 50 largest a shares in China DJ30 30 Dow Jones industrial stocks ESP35 Spanish stock exchange EUSTX50 Stocks of the Eurozone FRA40 Mostly French-based companies GER30 Performance of the German dax index HKG50 50 leading stocks traded on the HK stock exchange ITA40 Development indicator of the Milano Italia Borsa JPN225 Main Japanese stock exchange NSDQ100 Largest US non-financial companies SPX500 500 leading publicly traded US companies SUI30 30 leading Swiss companies, including Credit Suisse UK100 London’s blue-chip FTSE100 index USDOLLAR Leading benchmark for the value of the dollar against a basket of popular currencies.
CFD Trading on Commodities.
Traders on the eToro platform can trade CFDs on over 45 commodity instruments, including the following commodities:
Other commodity CFDs include pairs like Silver/GBP, Silver/CHF, and Gold/NZD.
CFD Trading on Forex.
The eToro platform offers CFD trading over 50 currency pairs. The broker has recently reduced spreads throughout its forex line, especially on top currency pairs.
Currency Pair Previous Spread New Typical Spread* EUR/USD 3 1 USD/JPY 2 1 USD/CHF 3 1.5 USD/CAD 3 1.5 EUR/GBP 4 1.5 GBP/USD 4 2 EUR/JPY 4 2 AUD/JPY 5 2 NZD/USD 5 2.5 GBP/JPY 6 3 *Spreads may fluctuate at times.
See all of eToro’s currency pairs.
AUD/CAD AUD/CHF AUD/JPY AUD/NZD AUD/USD BTC/CNH CAD/CHF CAD/JPY CHF/HUF CHF/JPY EUR/AUD EUR/CAD EUR/CHF EUR/DKK EUR/GBP EUR/HUF EUR/JPY EUR/NOK EUR/NZD EUR/PLN EUR/SEK EUR/USD GBP/AUD GBP/CAD GBP/CHF GBP/HUF GBP/JPY GBP/NZD GBP/USD NOK/SEK NZD/CAD NZD/CHF NZD/JPY NZD/USD USD/CAD USD/CHF USD/CNH USD/CZK USD/DKK USD/HKD USD/HUF USD/JPY USD/MXN USD/NOK USD/PLN USD/RUB USD/SEK USD/SGD USD/TRY USD/ZAR ZAR/JPY.
Cryptocurrency Trading.
eToro offers two ways to trade cryptocurrencies:
CFDs trading on cryptocurrency Direct purchase and sale of crypto coins, plus exchanges between coins.
Please Note: Availability subject to regulations. Cryptocurrency CFDs are not available to UK retail traders.
CFDs on Cryptocurrencies.
eToro offers traders CFDs on cryptocurrency "crosses," which are pairs of currencies featuring a crypto coin paired with a fiat currency (eg, Bitcoin with EUR), other cryptos, or commodities.
See eToro’s cryptocurrency crosses.
Crypto Crosses Currency Crosses Commodity Crosses BCH/LTC BCH/AUD Gold/BTC BTC/EOS BCH/CAD BTC/GRAM BCH/CHF BTC/XLM BCH/EUR EOS/XLM BCH/GBP ETH/BTC BCH/JPY ETH/EOS BCH/NZD ETH/GRAM BTC/AUD ETH/XLM BTC/CAD XRP/DASH BTC/CHF ZEC/BCH BTC/EUR ZEC/DASH BTC/GBP ZEC/ETH BTC/JPY ZEC/LTC BTC/NZD ZEC/XLM DASH/AUD ZEC/XRP DASH/CHF DASH/EUR DASH/GBP DASH/JPY DASH/NZD EOS/GBP EOS/JPY ETC/AUD ETC/CAD ETC/CHF ETC/EUR ETC/GBP ETC/JPY ETC/NZD ETH/AUD ETH/CAD ETH/CHF ETH/CNH ETH/EUR ETH/GBP ETH/JPY ETH/NZD GRAM/EUR LTC/AUD LTC/CAD LTC/CHF LTC/EUR LTC/GBP LTC/JPY LTC/NZD XLM/AUD XLM/CHF XLM/EUR XLM/GBP XLM/JPY.
Cryptocurrency Coins Trading.
eToro offers cryptocurrency trading on many popular coins including Bitcoin, Dogecoin, Dash, Ethereum, NEO and more.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
See eToro’s cryptocurrency coins.
Crypto Coin Description ADA Cardano BCH Bitcoin Cash BTC Bitcoin DASH Dash EOS EOS ETC Ethereum Classic ETH Ethereum LTC Litecoin MIOTA IOTA (Internet of Things) NEO NEO or Chinese Ethereum TRX Tron XLM Stellar Lumens XTZ Tezos ZEC ZCash.
eToro’s Crypto Wallet.
eToro lets traders purchase crypto assets and store them in its blockchain wallet. You can use the wallet to:
Buy or sell crypto coins Send or receive crypto assets from other wallets Convert crypto coins from one type to another type (eg, Bitcoin to Ethereum) as long as both types are supported by eToro.
eToro’s wallet is regulated under the company name eToroX Limited and is a regulated distributed ledger technology (DLT) provider licensed by Gibraltar Financial Services Commission under license number FSC1333B.
You can access eToro’s multi-crypto wallet via its browser-based web platform and on your iOS or Android mobile device.
Note : You can’t directly transfer cryptoassets to eToro’s CFD trading platform.
eToro Account Types.
Traders can choose from three different eToro account types – a standard trading account , an Islamic account , and a demo account .
Standard Trading Account.
Traders can open a standard eToro trading account with $50 – $10,000. It offers traders various leverage limitations based on the product being traded. Here are some examples:
Trade Type Leverage Major currency pairs 30:1 Non-major currency pairs 20:1 Commodities (except for gold and non-major equity indices) 10:1 CFD stocks 5:1 Cryptocurrency CFDs 2:1 To reduce its overall market exposure, eToro reserves the right to limit the amount of leverage a trader can use. If a trader’s cash equity falls below eToro’s margin requirement, eToro will give the trader a chance to deposit more funds, then initiate a margin call and close the trader’s open positions.
Islamic Accounts.
Islamic traders can open Islamic accounts. These halal accounts don’t utilize swaps (Riba) in accordance with Islamic law.
Demo Accounts.
Traders who sign up for an eToro demo account receive $100,000 in virtual currency to trade.
With their demo account, traders can test their strategies by executing practice trades in real-time. The eToro demo account also allows traders to test the functions of the platform before committing real money.
eToro demo accounts never expire . Traders can use the demo as long as they need to.
eToro Account Requirements.
eToro serves more than 60 countries worldwide. The process of opening an account is largely the same in each jurisdiction.
Account Verification With eToro.
First, traders fill out a form with some basic information and create a username.
Before you can trade with eToro for the first time, you need to verify your account with the following information:
Government-issued ID Phone number Proof of address.
The government-issued ID (eg, passport) must be a high-resolution copy that shows both sides of the document and contains the following:
Full Name Date of Birth Photograph Valid Expiry Date.
Proof of Address.
Proof-of-address can include items issued by a financial institution, utility company, government agency, or judicial authority:
Acceptable Forms of Proof Unacceptable Form of Proof Bank statement Receipts Credit card statement Invoices for purchasing goods Electricity bill Hand written bills Water or gas bill Council tax bill Tax letter or bill.
Funding an eToro Account.
eToro offers several different first-time minimum deposit options for customers, depending on where they live:
Country Minimum Initial Deposit Australia, Ireland, Italy, Spain, Sweden, Switzerland, United Kingdom, Austria, Germany, Netherlands, Norway, United States $50 Israel $10,000 Everywhere else $200.
After your initial deposit, the minimum deposit is $50 for all countries’ residents.
Deposit Methods.
You can fund your eToro account with a variety of deposit methods:
Diners Club iDEAL Maestro MasterCard Neteller PayPal Rapid Transfer Skrill Trustly Visa Wire Transfer.*
* If you use a wire transfer to fund your account the minimum deposit amount is $500.
Funding Times and Maximum Deposit.
The time it takes for your deposit to hit your eToro account depends on your deposit method:
Wire transfers take 4-7 business days. Cryptoassets transfers take one business day processing since they must be manually reviewed. However, after eToro reviews the transaction, the transfer is subject to the amount of time it takes each blockchain involved to complete it. All other methods can take up to 3 business days to process.
The maximum deposit amount is $10,000 per day, regardless of country.
eToro Spreads and Fees.
eToro’s compensation comes via the market bid/ask spreads, which vary by product. eToro traders are charged these spreads only when a position is closed.
Spreads vary day-to-day and even minute-to-minute. The spread ranges below are indicative only.
Commodity Spreads – From 2 Pips (copper) – 20,000 Pips (palladium) Cryptocurrencies – From 0.75% (Bitcoin) – 5.0% (XTZ) Currencies – From 1 Pip (AUD/USD) – 50 Pips (USD/TRY) ETFs – BUY Position Fee: 6.4%; SELL Position Fee: 2.9% Indices – From 4 Pips (US Dollar Index) – 1200 Pips (China A50 Index) Stocks – Buy Position Fee: 6.4%; Sell Position Fee: 2.9%
Note : On top of the spread, a universal crypto trading fee of 1% is charged every time you open or close a position. This does NOT apply to traders from the US.
Reduced Forex Spreads & Pipettes.
eToro recently reduced its forex spreads and made many of them variable, as opposed to fixed.
They’ve also made their spreads more granular with the introduction of "pipette" pricing. Pipettes are smaller than pips by a factor of 10.
Pip Pipette 0.0001 0.00001 Note: Pips and pipettes are higher for JPY pairs by a factor of 10.
Overnight Fee.
This overnight eToro fee is applied to a trader’s account when a position remains open past a certain period of time.
The eToro overnight fees are multiplied by three if a trader holds a position over Wednesday or Friday night . Overnight fees are charged to customer accounts and credits are applied at 17:00 New York time .
eToro doesn’t charge overnight fees for non-leveraged buy positions.
Withdrawal Fee.
eToro charges a flat $5 fee for all withdrawals, except for cryptocurrencies. The minimum withdrawal amount is $30. (See below for cryptocurrency withdrawal fees.)
Conversion Fee.
eToro charges a conversion fee if customers want to convert the funds they withdraw from US dollars into other currencies or if they make a deposit with a currency other than USD.
The amount of the conversion fee also depends on whether your transaction is via wire transfer or another method.
Currency Pair Wire Transfer Credit Cards, PayPal, Neteller, Skrill Charged Upon AUD/USD 50 pips 100 pips Withdrawal or Deposit EUR/USD 50 pips 250 pips Withdrawal or Deposit GBP/USD 50pips 50 pips Withdrawal or Deposit RUB/USD 50 pips 50 pips Withdrawal or Deposit MYR/USD n/a 100 pips Withdrawal or Deposit RMB/USD n/a 50 pips Withdrawal or Deposit THB/USD n/a 100 pips Withdrawal or Deposit IDR/USD 1% of deposit amount 1% of deposit amount Deposits Only VND/USD 1% of deposit amount 1% of deposit amount Deposits Only.
Inactivity Fee.
eToro charges traders a monthly $10 inactivity fee if they don’t use the platform for a period of 12 months. This fee cannot take your account below zero, however.
Traders simply need to log in to their accounts periodically to avoid these fees.
Cryptocurrency Fees.
When depositing, withdrawing, or converting cryptocurrencies — whether to or from fiat currencies or other crypto coins — several types of fees and limits apply.
Crypto Withdrawal Fee.
Cryptoasset withdrawals incur their own fees, charged in the same crypto coin, as follows:
Cryptocurrency Minimum Withdrawal Amount Fee BCH 0.18 BCH 0.001 units BTC 0.008 BTC 0.0005 units ETH 0.26 ETH 0.006 units LTC 0.68 LTC 0.001 units XLM 534 XLM 0.01 units.
Fiat-to-Crypto Conversion Fees and Limits.
When convert fiat currencies (eg, Pounds Sterling) to cryptocurrencies in your eToro wallet, you incur a fee of 5%, charged in the fiat currency.
Here’s a breakdown of what’s in the 5% fee:
eToro charges a 1% fee Fiat conversions are facilitated by Simplex, which charges a 4% fee.
Additionally, blockchain fees apply which are deducted from the crypto amount purchased. Your bank or where to copy trade crypto credit card may also charge you fees.
Fiat-to-crypto currency conversion and transaction limits are stated in US dollars:
Minimum Maximum Per Conversion $20 $10,000 Per Transaction none $50,000 Per Day (Transactions ) none $200,000.
Crypto-to-Crypto Conversion Fees and Limits.
If you wish to convert a cryptocurrency into another type of crypto coin, eToro charges a 0.1% fee.
The minimum allowed crypto-to-crypto conversion transaction is $20 and the maximum is $10,000.
Crypto Wallet Fees.
There are two crypto coins that charge initial wallet creation fees:
XRP – 45 XRP* XLM – A minimum non-spendable deposit of 2.5 XLM.
*At the time of updating this article, eToro does not charge a fee for an XRP wallet creation.
Withdrawing Funds From eToro.
You can withdraw funds at any time up to the value of the balance and minus the amount of margin.
The processing fee for a withdrawal is $5, plus a conversion fee from USD to other currencies, if applicable.
You can only withdraw funds using the same method that you used to deposit them and to the same account as previously used to deposit.
Withdrawal Requirements.
The minimum withdrawal is $30 You must have a verified account.
To verify your account, you must answer some personal and financial questions and submit documentation that meets eToro’s requirements for anti-money laundering.
The answers to these questions include:
Your personal details Your experience and objectives for trading Upload of a utility bill Upload of a photo ID Phone verification.
See eToro Withdrawal Times.
Payment provider Time taken to receive funds on your payment method China Union Pay 1-2 Working days Credit / Debit card Up to 5 working days Neteller 1-2 Working days PayPal 1-2 Working days Skrill Limited UK 1-2 Working days WebMoney 1-2 Working days Wire Transfer Up to 5 working days.
eToro Trading Platform Review.
The eToro platform sets it apart from its competition. An entirely web-based trading tool, the platform’s detailed graphics, and clean dashboard make it a popular tool for traders.
The platform also incorporates many advanced features.
Signing Up for eToro.
After you set up an eToro profile, choose the "Trade for Real" option. Next, you’ll be asked to fund the account.
Once inside the eToro trading application, traders will see a screen with some of the instruments available for trading, like so:
eToro offers functionalities like live interactive charts, a one-click buy/sell button, and account balances, among other features.
The sentiment function shows off one of the unique aspects of eToro’s social platform. Here, traders can see the percentage of all traders in the eToro community who are buying or selling any particular instrument.
When inside the eToro platform, clicking on an interactive chart button brings up a chart for the security, like so:
charting tools including Bollinger bands, moving averages, and oscillators, among others.
Buying and Selling on eToro.
When a trader clicks the buy or sell button, they can set the size of the trade, leverage, a stop-loss, and a take profit value.
This screenshot is only an illustration. Current market prices can be found on the broker website. Please note, this is an example – not a recommendation.
Most of the features available on the trading ticket screen are industry-standard.
How eToro Uses Market Sentiment.
The market sentiment gauge shows allows traders to tap into what others on eToro are saying about the market, as well as what they’re doing.
The People Discovery section of eToro is where the platform really stands out from its competitors.
The eToro trading platform has a Discover People feature that works like a search engine for traders.
This section allows the trader to screen for different traders on the platform using country of origin, markets traded, percentage gains, and time frame.
The first thing you’ll notice about the discovery feature is the series of filters at the top of the page:
Copy People — Traders on eToro can click on a trader they want to copy, set a copy amount for trading and begin copying the trades made by that individual — including the opening of new trades, managing stop-loss orders, and closing positions. Top Trader Insights — Here eToro collects data from the top 100 traders on the platform. It also features an economic calendar and market news.
How Does CopyTrader Work?
One of the main advantages of signing up with eToro is that traders can integrate social features into their trading. These features include:
CopyTrader — With CopyTrader, traders can interact with each other, copying strategies and interacting with more experienced traders since all trader activity is visible. Popular Investor Program — With enough experience, anyone can become a trading influencer and earn monetary rewards from it. See more about the Popular Investor Program below. Social News Feeds — Read posts from other traders and post information and status updates yourself. Sharing Externally — eToro allows traders to share news, analysis, charts (and more) to other social networks like Facebook, Twitter, Instagram, Youtube, and Telegram.
CopyTrader Guidelines.
eToro has certain guidelines that apply when using the CopyTrader feature:
Copy Minimum : $200 is the minimum trade amount that you can copy. Copy Maximum : $500,000 is the maximum trade amount that you can copy from a sole trader. Limit : You can only copy 100 traders simultaneously. Minimum trade amount : For a copied trade, $1 is the minimum amount. Closing : When you manually close a copied trade, your copy balance will be copied with any funds from this position. (This is not the amount traded in open positions but the amount you’ve allocated to copy this trader.)
Additional guidelines must be adhered to if traders want to copy trading for crypto (http://abudabi-binary-option.forexrabota.ru/) an entire list of trades from one trader:
Market rates : Your account will be opened with the existing open positions at the market rates at the time of copying — not the rates the Copied Trader opened the original trades. Stop-loss : Your trades will have the original trade’s stop-loss and take profit. Future actions : Your trades will mirror the future actions of the Copied Trader. This includes stop-loss and profit, as well as the closing of the trade as soon as you copy them. Closing trades : Closing a specific copied trade won’t close your entire copy account. Market orders : Should a position be opened in a market that’s closed at the time of copying (eg, a market break), a Market Order will be opened by the system for the Copier. As soon as the market opens, an order is executed into a position with the first market rate. See all copied trades : If you wish to see all of the trades you’ve copied from one trader, simply go to your portfolio and click on the name of the Copied Trader.
Key Differentiator.
One of eToro’s key differentiators is its CopyPortfolios feature. Once you’ve found a Popular Investor whose strategies you like, you can copy that person’s entire portfolio over to your own account.
Alternatively, traders can opt to take advantage of eToro’s Market Portfolios, which are managed by eToro itself. The CopyPortfolios committees in charge of each Market Portfolio automatically rebalance them when necessary.
eToro Mobile.
eToro’s Mobile app features the same interface and platform that its browser-based platform uses for both Android and iOS devices.
Advanced Features for High Level Traders.
eToro also has more advanced trading filters for traders who want more control over whom they follow.
Choosing "Advanced Search" brings up these additional filters:
Time Period : The timeframe for the trader’s activity. Status : Traders can choose to follow only traders who have verified their accounts with eToro as well as only traders who are part of the Popular Investor Program (see below). Country : Location of trader. Name and Picture : You can choose to follow only traders with profile pictures. Copiers : You can choose to follow traders based on how many other people follow them: Copiers Change : The percentage change in the number of people following the copied trader. Copy AUM : The total assets under management of the copied trader. With this feature, you can choose, for example, to follow only traders with assets in their account over a certain amount. Performance : With these filters, you can choose to follow traders based on the returns of their account, their percentage of profitable trading months, or their percentage of profitable trades. Risk Score : eToro assigns a risk score to each portfolio, which is an indicator of how exposed the portfolio is to market volatility. You can filter by risk score to gauge how much volatility to expect from following a particular trader. Portfolio : A filter for following based on a trader’s allocation or average trade size. Activity: A filter for following based on how active a trader is in the market.
How to Participate In eToro’s Popular Investor Program.
eToro’s Popular Investor Program allows traders to be found in People Discovery and to let others copy their trades. The program has four levels, each with its own requirements and benefits:
In order to apply for the Popular Investor Program, traders must verify their account with eToro.
To be accepted at the minimum level (Cadet), traders must meet the following requirements:
Leverage : You must not have open positions exceeding the leverages outlined in the eToro Responsible Trading requirements. Risk score : You must not have had a risk score higher than 6 in the 2 calendar months prior to joining the program. History : You have at least 2 months of trading history. Strategy : You have your own unique trading strategy and you are not copying an individual trader or CopyPortfolio with more than 25% of your equity. Funding : Your deposits total at least $1,000, minimum average equity of $500, and at least one verified copier with a minimum AUM of $200.
When trades are copied by other people, an eToro Popular Investor can earn up to 2% of their annual assets under management (AUM) and fixed payments. These payments are added to any other profits you make.
eToro pays you if you have traders follow you and copy your trades.
The eToro demo account looks identical to the eToro standard account. The only difference is that traders start with a $100,000 balance in virtual funds.
To access the demo account, the trader logs into the account. Next, the trader clicks virtual portfolio and confirms the selection.
Once in demo mode, traders have access to the trading screen, the trade ticket, charts, and all of the social features of the platform.
eToro Trading Academy.
In addition to the demo mode, traders can access other resources to help them learn how to trade, like the Trading Academy,
Trading Academy offers webinars on how to maximize success on the eToro platform and an education center with e-courses and training videos.
Trading Academy also offers a section with tips for traders.
Here are some of eToro’s limitations as a trading platform.
Brokers Set Amounts.
With most brokers, the trader sets the number of units, lots, or shares for purchase and the broker calculates the leverage needed given the trader’s account balance.
However, with eToro’s platform, the trader sets the amount of capital and leverage and the broker calculates the number of units, lots, or shares the trader can purchase.
Although this is not necessarily a disadvantage of eToro, it may be confusing for some traders.
Finding Available Instruments Can Be Tricky.
Another shortcoming of the platform is that the first screen in the real trading application only shows some of the instruments available for trading.
The drop-down menu shows currency pairs, indices, and commodities, but fails to list the CFDs for listed companies.
To find these instruments, a trader must either use the menu under the Markets section or find them using the search function in the menu bar. Thus, a trader unfamiliar with equity markets may not know what stocks are available for trading.
Can I Trust eToro?
Any discussion of online brokerage safety primarily centers on three topics: regulation, security technology, and quality of customer service.
Which Agencies Regulate eToro?
eToro receives regulatory oversight from the following regulatory bodies, depending on the countries where they operate:
eToro USA is registered with FinCEN as a Money Services Business. eToro Europe is a registered Cypriot Investment Firm (CIF), registration number HE20058. It’s regulated by the Cyprus Securities & Exchange Commission (CySEC) under license number 109/10. In the UK, eToro UK , company registration no. 7973792, is regulated by the Financial Conduct Authority (FCA), firm reference number 583263. eToro Europe and eToro UK both operate under and comply with the Markets in Financial Instruments Directive (MiFID). eToro Australia , ABN 66 612 791 803, holds Australian Financial Services Licence (AFSL) 491139, issued by the Australian Securities and Investments Commission (ASIC), and regulated under the Corporations Act (Commonwealth).
These agencies require the firms they regulate to meet stringent guidelines.
The table below helps you to understand which countries fall under the jurisdiction of which regulator so you can better understand the protections offered.
Regulator Countries Covered Protection Offered Additional Protection Offered Financial Conduct Authority (FCA) Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, copy trade crypto reddit UK All client funds are held in a segregated client bank account Financial Services Compensation Scheme (FSCS) may cover up to _50,000 if eToro fails. Cyprus Securities Exchange (CySEC) Argentina, Australia, Bahrain, Brunei, Canada, Chile, China, Colombia, Egypt, India, Jordan, Kuwait, Mexico, Malaysia, New Zealand, Nigeria, Oman, Paraguay, Peru, Qatar, Russia, Saudi Arabia, Singapore, South Africa, Switzerland, Thailand, Ukraine, United Arab Emirates, Uruguay, Venezuela All client funds are held in a segregated client bank account The Investor Compensation Fund may provide up to €30,000 if eToro fails. Australian Securities and Investments Commission (ASIC) Australia US Financial Crimes Enforcement Network (FinCEN) USA.
How Secure Is eToro’s Technology?
eToro takes the following steps to secure its technology:
SSL encryption Firewalls Two-factor authentication ("2FA") via SMS (optional, requires opt-in) Mandatory proof of identity and address for all accounts (see Account Verification above) Compliance with the US Patriot Act to prevent funding of terrorism and money laundering.
How to Contact eToro’s Customer Support.
eToro offers customers 24-hour support 5 days a week. Customers who need assistance can reach the company by email, fax or live chat. The eToro website supports over 20 languages, including:
Arabic Chinese Czech Danish Dutch English Finnish French German Italian Malay Norwegian Polish Portuguese Romanian Russian Spanish Swedish Vietnamese.
eToro’s History.
eToro was the brainchild of brothers Ronen and Yoni Assia, who founded the firm in 2007 along with their partner David Ring.
The trio’s vision was to create a trading platform that appealed to a wide audience and was user-friendly.
eToro has recently secured sponsorship deals with five UK Premier League clubs including Leicester City, six German soccer teams, as well as Danish champions FC Midtjylland, and AS Monaco.
Who Runs eToro?
The eToro board currently consists of 4 directors. We have listed the main management team and board members:
Name Title Notes Yoni Assia Founder CEO Ronen Assia Co-Founder Chief Product Officer Santo Politi Board Member Co-founder and General Partner at Spark Capital. Anver Stepak Board Member ex-CEO of Meitav Dash Eddy Shalev Board Member Founder & Managing Partner, Genesis Partners.
FAQs.
Is eToro trustworthy?
In Europe and the UK, eToro is regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities Exchange (CySEC). It also complies with the Markets in Financial Instruments Directive (MiFID). In Australia, the company is regulated by the Australian Securities and Investments Commission (ASIC). The regulatory body in the US is FinCEN.
You can find out more about regulatory agencies on our Regulators reference page.
Is eToro good for learning?
eToro has educational material that is made for learners, like its Trading Academy. eToro also has social trading aspects that can help learning traders understand the strategies of other traders, like CopyTrader and CopyPortfolio. Still, eToro as a multi-asset platform involves risks for all instruments like stocks, crypto assets, and CFDs.
Risk Warning.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you 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. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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.
Past performance is not an indication of future results.
Commodity.com is compensated if you access products or services offered by eToro USA LLC and/or eToro USA Securities Inc., as applicable. This compensation incentivizes Commodity.com to describe those products and services in favorable terms. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.
Credits: Original eToro review written by Lawrence Pines. Major updates and additions by Natalie Mootz with contributions from the Commodity.com editorial team.
Written by.
Natalie has been writing about technology and other complex topics for over 10 years with articles featured on Engadget, Laptopmag.com, Digital.com, Tom's Guide, and About.com. She lives in Southern California with her husband, a cat, and a banjo.