eToro Full Review With All Questions Answered

Investing

Published: April 2, 2024 10:57 am

Last Updated: April 19, 2024 12:56 pm

eToro is a private, Israel-based, asset investment and social trading company. It was founded in 2007 originally as RetailFX and released its first product, the eToro OpenBook investment platform in 2010. Since then, it has grown substantially, acquiring other fintech companies and securing millions in investments, including from Russian and Chinese investors.

eToro is available in over 140 countries and is active in the European Union, USA, Australia, the United Kingdom, and more. However, it has been involved in a number of controversies regarding how it handles its online marketplace and was even blacklisted by Quebec in 2015 because it was an unauthorized company from a foreign nation that encouraged Canadian citizens to overly invest in binary options.

The key to eToro’s success has been its CopyTrader program, which allows users to copy the trades of other investors, no matter where those traders are. Additionally, it also offers access to significantly more cryptocurrencies than other popular trading platforms.

Like other digital-first trading platforms, eToro is focused on new and younger traders and offers educational tools and investment guidance to its customers. It is a popular choice among those who want to trade crypto or ETFs.

If you are new to trading, value the input of trusted friends and traders, or want a community of like-minded investors, eToro might be the right platform for you. It is free to open an eToro account, but there are various fees including those for transferring your holdings away from eToro, fees for crypto trading, inactivity fees, and more.

eToro also offers an eToro Club, which offers increased customer service and features for accounts that meet value minimums. All new accounts begin at the Bronze tier and, as your account value grows, the features and benefits of your Club membership improve until you reach the Diamond tier (at an account value of $250,000).

The main features of eToro include:

CopyTrader program to copy the trades of other investors in real time
Access to 20 global stock markets
70 cryptocurrencies available for trade
Core portfolio asset allocation guidance using Blackrock models
A Social Trading network with a News Feed to follow other traders on the platform
A free $100,000 demo account to practice trading
eToro Club program
Automatically grow crypto holdings through eToro’s Staking service

If you are wondering which investment platform is right for you, we strongly encourage you to compare platforms before opening an account. Read our stories below for reviews, in-depth guides, and more about eToro.