EToro is only a financial markets broker, offering clients the opportunity to invest or trade in 2000+ assets across multiple asset classes. While the broker offers low fees, intuitive trading platforms, ready-made copy portfolios, social trading and a gamut of analytical tools, it is up to you how you use these features to make money. According to the broker, 81% of retail investors lose money when trading CFDs with them. EToro is the world’s leading social trading network offering millions of clients the choice of investing in a range of exchange-traded stocks, cryptocurrencies, and CFDs in commodities, indices, ETFs. The multi-regulated broker is under the stringent guidelines of the FCA, CySEC, and ASIC.
77% 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. NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency.
What can you trade?
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The final output produces star ratings from poor (one star) to excellent (five stars). Many or all of the products featured here are from our partners who compensate us.
- If you click on links we provide, we may receive compensation.
- The intuitive “Trading” tab allows users to view current prices, and buy, sell, or convert crypto.
- EToro offers a professional cryptocurrency exchange, enabling users to execute a range of advanced trading strategies.
- But if you transfer your coins to an external crypto wallet, you can no longer move them back onto the eToro trading platform.
- Contracts for Differences (CFDs) are not available in the United States.
But if you transfer your coins to an external crypto wallet, you can no longer move them back onto the eToro trading platform. Like many other crypto exchanges, any U.S. residents can sign up for an eToro account but not all the platform’s features are available in every state. Crypto trading, for instance, is not available in New York, Nevada, Hawaii and Minnesota. You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade. Trading with eToro by following and/or copying or replicating the trades of other traders involves a high level of risks, even when following and/or copying or replicating the top-performing traders.
The only caveat is that those who need extensive analytics tools may wish for more as they trade. EToro offers users a wide variety of CFDs to choose from that include Indices, Currencies, Commodities, Stocks and ETFs. There’s no fee to participate—popular Investors are compensated by eToro—and once you’ve made your trading portfolio, you can apply to be a Popular Investor yourself. Users can only contact eToro customer service via a help ticket or online chat.
Unless a user is at Platinum level or higher, the user’s equity holdings determine levels on the platform. A full list of eToro international coin offerings can be found here. EToro users pay a flat fee—technically a bid-ask spread—of 1% for each crypto trade. We believe everyone should be able to make financial decisions with confidence. As part of this process, you’ll also have to provide personal information, proof of address, and share a valid, government-issued ID.
This comes via its CopyTrader system, which lets you copy the trades made by its top-performing traders. Users can choose from a wide range of stocks covering everything from Basic Materials to Utilities, or filter by over 20 exchanges such as the London and New York stock exchanges. In this eToro broker review, we’ll be taking a look at everything you need to know about this broker, including account types, regulation, trading platforms and more. You will also pay a crypto transfer fee of approximately 2% of up to a maximum of $100 on most major coins like Bitcoin, Ethereum and XRP (XRP), to name a few.
EToro provides a free digital wallet to store cryptocurrency, known as eToro wallet, available in iOS and Android. There is a 2% fee to transfer funds from eToro’s investment app to its crypto wallet. Although eToro offers basic market and limit orders, as well as the ability for non-U.S. Users to invest on margin, it does not have some of the more advanced conditional orders, advanced charting capabilities, and cryptocurrency pairs that other competitors offer. The intuitive “Trading” tab allows users to view current prices, and buy, sell, or convert crypto.
eToro: Investing made social
As such we may earn a commision when you make a purchase after following a link from our website. The terms include a minimum withdrawal amount of $30 and a fee of $5 for every fund payout. Trading history presented is less than 5 complete years and may not suffice forex etoro review as basis for investment decision. We also delved into the account types offered by the firm, which are divided into two main categories. To pull ahead of the competition, the firm does not charge any fees for Long (BUY), stock, as these are not completed as CFDs.