eToro Review

Background

eToro is an Israeli brokerage that places a lot of emphasis on social trading and has invested a lot of time and effort into adapting its platform and mobile app. The broker has recently moved into cryptocurrencies in a big way and now offers a mobile wallet for trading and sending funds. Although eToro is an established brokerage with offices in several countries, it has a mixed reputation among traders and currently has poor reviews on Trustpilot.

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Protection & Security

eToro is registered in several countries and has advanced SSL security technology on its site. All traders have segregated accounts.

Global Presence

eToro claims to have millions of traders from over 140 countries, but this sounds like an exaggeration. Possibly they have had millions of site visitors. The broker is based in Tel Aviv and has offices in London and other cities.

Account Types

eToro offers traders a live social trading account with a minimum deposit of $200. Serious traders can receive extra benefits within the account, but we aren’t aware of any different account types.

Minimum Deposit – $200

Deposits & Withdrawals

There have been a lot of reported problems with the eToro deposit and withdrawal systems. Their entire account management system seems to be overloaded to they point where many traders complain that it is dysfunctional. The eToro Trustpilot page is full of negative comments and complaints. We do not recommend depositing funds with eToro for the forseeable future.

Deposit

There have been a lot of reported problems with the eToro deposit and withdrawal systems. Their entire account management system seems to be overloaded to they point where many traders complain that it is dysfunctional.

Withdrawals

There have been a lot of reported problems with the eToro deposit and withdrawal systems. Their entire account management system seems to be overloaded to they point where many traders complain that it is dysfunctional.

Trading Platforms

eToro’s social trading platform offers traders a wide variety of assets as CFDs. Traders can follow and copy other traders, or choose to invest in a CopyPortfolio. eToro has an additional investment product called a CryptoPortfolio, which allows traders to invest in a selection of cryptocurrencies.

Markets & Products

eToro is mainly focused on the concept of social trading and offers the usual range of assets with a copytrading spin. There is also a big push towards crypto trading via a dedicated crypto wallet. The technology is basically good, but if you’re not interested in social trading, you’ll be a bit lost.

Edcuation Center

The eToro education center is adequate for new traders but is nothing special. The broker prefers to rely on using its ‘popular investors’ (high profile social traders) to pass on their skills to others. The broker needs to focus more on trader education.

Customer Service

eToro customer service has received terrible online reviews, particularly on TrustPilot. In fairness to the reps, it sounds like they have an almost impossible job to do. There are a lot of reports of frustrated traders getting shunted around inside a ticket system, or not recieving clear answers about withdrawals.

Promotions & Offers

eToro runs various promotions connected to social trading and seeks to reward successful traders who are willing to share their insights and strategies with others. Their ordinary bonuses and promos are average.

Trading Tools & Reaserch

eToro does provide a good range of trading tools on its platform, with a full suite of risk management tools and the usual charts and alerts. However, it tries to push traders into its own online communities for research and market analysis.

Overall Summary

PLUS:
eToro has some good technology. If you are a fan of social trading, it’s possibly the site for you.

MINUS:
eToro imposes high spreads and rollover fees on its traders and there have been issues with performance data. The broker has a bad reputation for customer service and problems with withdrawals. eToro’s obsession with social trading can be annoying.

Pros & Cons

Pros

Real time trading

Some well designed technology

Crypto wallet

Cons

Terrible customer service

Bad account management

Poor rating on Trustpilot

Too much emphasis on social trading

eToro

eToro

Protection & Security
3/5
Global Presence
4.5/5
Account Types
2.5/5
Deposits & Withdrawals
2/5
Trading Platforms
3.5/5
Markets & Products
3/5
Edcuation Center
3/5
Customer Service
2.5/5
Promotions & Offers
2.5/5
Trading Tools & Reaserch
3/5

Minimum Deposit - $200

Recent Comments

Tom F.

November 17, 2020 08:00

3.2

Protection & Security

3.4

Deposit & Withdrawal

2.3

Trading Platform

2.4

Markets & Products

3.2

Education & Research

3.5

Customer Service

1.8

The platform froze a few times and I lost money on open positions… contacted support and they said they would check… so far didn’t I hear from them..

Pros

Cons

I really can't find anything positive to say

Social trading is completely overated

-

Bad Customer service

-

It took weeks to get my money back

Max D.

November 17, 2020 08:00

3.3

Protection & Security

3.9

Deposit & Withdrawal

2.0

Trading Platform

3.9

Markets & Products

3.7

Education & Research

4.0

Customer Service

2.4

Where to begin? eToro is a disaster, I signed up with them to cash in on the Bitcoin boom and they promised a great trading experience via copytrading. Their fees and trading costs ate into the small profits that I made. I eventually realised that i was going to lose all my cash and decided to cut my losses. Trying to withdraw money was a nightmare. Check their thousands of terrible reviews on Trustpilot.

Pros

Cons

Admittedly, there is some good tech

I didn't find the assets that I want to trade

Plenty of assets for CFD trading

Spreads and fees were painful.

Only $200 to sign up

Seems to be a social trading cult not a brokerage

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