Last updated on: 11/03/2022
You may have heard many people describing eToro as one of the best platforms for online brokers and forex trading. It is much more than that. The platforms provide a wide range of investment opportunities for people who would like to build a sustainable income from commodities, cryptocurrency markets, stocks, and forex, to mention a few. This is why we think it is a great idea to re-introduce eToro via this comprehensive review.
| 4.8 / 5
⭐⭐⭐⭐⭐ 3147 Reviews! |
✅ Minimum Deposit: $50
✅ Fees: 0.75% to 2.9% ✅ Tradeable Assets: 3056 |
Visit eToro | |
| 68% of retail investor accounts lose money when trading CFDs. |
What is eToro?
However, the main attraction to the site is its platform for trading forex and various cryptocurrencies. Therefore, using such a diversified investment platform opens up many ways to enter international financial markets without language or border barriers.
We observed that the managers who control eToro and its operations are using a customer-centered operating model. That means you could gain more income through the platform. For example, you can use several features on the platform without paying interest. That is to say; you keep all your profit. Also, trading through eToro allows you to avoid paying stamp duty charges and taxes on transactions done with bank cards.
In addition, the customer-centered approach is evident because you can use credit cards, PayPal, or Skrill, among other payment options, to access the platform’s multiple features.
We can also confirm that eToro is one of the platforms for online broker services that support new investors. New users can copy investment strategies used by experienced and more successful people on the platform in their investment field. This is a fool-proof approach to earning money from the different investment markets we have today.
It is also noteworthy that the FCA monitors the operating methods on the platform. That means your money is safe. Also, you are assured that the platform will continue to operate in its users’ favor to avoid penalties.
Are There Trading Risks with eToro?
During this review, we noted the possible benefits of using eToro and the risks. In this regard, we have added a pros and cons section to this Review:
Pros
- Zero charges on transactions involving foreign currencies or stocks
- Convenient investments based on the investor’s preferences
- Multiple trading opportunities available for crypto, forex, and several commodities
- Affordable investment benchmark, which allows everyone to join the platform
- Several payment methods accepted from local banks or electronic banking platforms
- Customers investments are safe, secured by the FSCS
- Millions of satisfied users
- Allows the use of copy trading software for new or intermediate investors.
Cons
- Not adequate for experienced traders because yield is low
- Cannot support MT4 or MT5 processing protocols
How to Build Asset Portfolio with eToro?
The first step to building an impressive asset portfolio on the platform is understanding its services. With this approach, you can identify the services that you can leverage to start growing your online financial portfolio with an exclusive management system that only you can access.
You should consider using eToro if you are interested in building an impressive portfolio with high valued stocks. The advantage of using eToro is that you have easy access to some of the most prestigious listed companies in the UK and other parts of the world. For example, through eToro, you can buy into companies such as Royal Mail, several oil servicing companies, AstraZeneca, the power sector stakeholders such as BP, and many more.
Also, the platform gives you unlimited access to US stocks listed on the New York stock exchange and NASDAQ. That is to say, you can become one of the proud owners of Facebook or Tesla shares.
Overall, we can confirm that eToro is the leading online broker in the major UK, European and American markets such as Stockholm, Zurich, London, and Hong Kong, to mention a few.
Therefore, we can confirm the company’s commitment to providing a unique global platform through which more investors can grow their investments with minimal risks.
| 4.8 / 5
⭐⭐⭐⭐⭐ 3147 Reviews! |
✅ Minimum Deposit: $50
✅ Fees: 0.75% to 2.9% ✅ Tradeable Assets: 3056 |
Visit eToro | |
| 68% of retail investor accounts lose money when trading CFDs. |
Growing Your Investment Portfolio Stress-free
We were delighted to discover that you do not necessarily need a truckload of money before investing in stocks through eToro. All you need to do is choose your preferred stock, then take advantage of the platform’s feature. It allows you to buy a fraction of the stock’s share to become an owner. And, if you choose to sell your fraction of the stock at a later date, you will earn a significant profit.
This is how it works- eToro allows you to invest a minimum of $50 on stocks. That means you get the value for your money even if it is not up to the actual stock value on the market. So, you can invest as low as $100 in Apple’s stock held on eToro. Then watch the market value grow.
When you decide to sell, the platform calculates your profit based on your investment of $100, still using the actual stock value appreciation on the market. Using this opportunity, you can join thousands of investors who are gaining by investing in Amazon’s stock which is worth about $3,251.
If you can afford to invest only $200, then buy a fraction of Amazon’s shares via eToro, and you are good to go.
Earn Regular Dividends with eToro
We are excited about eToro’s investment opportunities in ETF, which could yield regular dividends for all investors. It is quite simple to join these plans. All you need to do is invest in an ETF or trust. Your investment qualifies you for regular dividends, paid according to your ETF’s performance.
To get started, you will need to choose from the index funds available on the platform. The options include Dow Jones, FTSE 100, S&P 500, and NASDAQ. The platform makes the investment process so easy because you can identify stocks that are performing well on the market and then invest in those companies. The monitoring process is based on eToro’s in-depth analysis, which is elaborate and reliable.
That is not all; the diverse services on the platform include investing in commodities such as gold and other valuable metals. The good news is that for all these investments, you can maintain a low capital stake of only $50, according to eToro’s guidelines.
Trade Cryptocurrencies Profitably
The developers managing the eToro platform have thoughtfully added crypto trading to their services. It is an ideal platform to buy and sell crypto because the FCA controls its crypto operations. That is to say; your capital is safe. Also, transactions related to buying or selling crypto attract reasonable fees, which is a massive advantage for you.
Digital currencies available on the platform include Bitcoin, Ethereum, Ripple, and other highly demanded tokens. Therefore, you are assured that purchasing any of these crypto-assets will earn you money since you can quickly sell off when the prices rise.
Introducing Real-time CFD Trading
In addition to making money from stocks and cryptocurrencies, you can also invest in Contract for Difference, CFD, deals. It is an investment opportunity that allows you to prospect the rates for a stock or commodity before you invest.
We are particularly interested in the CFD tools because you can use them to monitor a wide range of income-generating opportunities such as market trends in the energy market, commodities market, stocks, forex, and the agriculture sector.
We consider the CFD trading process as eToro’s way of helping their users leverage more credit to invest. For example, the CFD section allows you to have access to credit on a 1:5 ratios. This means that you get five times the value of credit in your eToro account.
Therefore, if you find a stock you would like to invest in, using data from their real-time market analysis, you can get up to $500 for that investment if you have up to $100 in your account, following the 1:5 allowance.
From our observations, the prospecting tools on the site are primarily accurate, which means you can invest based on predicted increases or dips in stock prices. To invest in a stock that you suspect may rise, you will need to place a buy order via eToro. At the same time, you should put a sell order for stocks you suspect may fall in value.
| 4.8 / 5
⭐⭐⭐⭐⭐ 3147 Reviews! |
✅ Minimum Deposit: $50
✅ Fees: 0.75% to 2.9% ✅ Tradeable Assets: 3056 |
Visit eToro | |
| 68% of retail investor accounts lose money when trading CFDs. |
Analyzing the Fees on eToro
As always, the platform’s developers expect to earn profit. So, you need to pay specific fees to access their services. We have studied their costs and written about them below.
It is essential that you understand how they charge these fees to help you organize your capital and investment plans.
One thing that stands out is that eToro has about the most affordable fees on the market. That is why we consider it an excellent choice for new and older investors.
The platform offers a fair arrangement that allows you to pay fees based on the value of the asset you want to invest in. However, you will need to pay fees for other features on the platform, such as withdrawing your earnings or making deposits.
These are processing fees that are quite affordable. The platform uses these fees to settle charges from their vendors.
However, we know that eToro has removed many of the fees you will find on other platforms that offer similar services.
Here are the different aspects of using eToro that may require you to pay fees:
Trading ETF and Stocks
Many of the reviews written by active users indicate that you will not pay any charges on stocks or ETFs that you trade using eToro. This is a huge advantage because many other platforms charge fees for such services.
You can earn and keep more money by using platforms that charge zero fees as commission. These platforms rely on fees from other transactions when you earn significant profits, such as selling stock.
No Charges for Stamp Duty
Usually, you are expected to pay 0.5% of your investment in stocks as stamp duty. However, eToro has removed this fee, allowing its users to earn more money. The stamp duty levy is on all UK stocks listed on notable exchanges such as the London Stock Exchange. We believe eToro wants to encourage its users to focus on the UK market, where there is so much to gain without paying a stamp duty.
Users Pay the Spread Fees Only
The spread value is the difference between the price you want to sell and the average market rate. For example, if a stock costs $5,000 on the market, and you are asking for $3,000, the spread for such a transaction is $2,000. You will remit this money to eToro after completing the deal. If you are buying an asset, you need to consider the spread value. It is best to ensure that you can sell the asset for a much higher profit that covers the spread value you paid during the initial deal. Generally, eToro offers a standard value for different types of deals. For example, you may pay up to 0.5% or more as the spread on crypto deals. Also, the spread for forex deals is about one pip, and valuable metals start from 2 pips.
Deposit and Withdrawal Fees
The platform charges a withdrawal and deposit fee. The rate for withdrawal is only $5, and you may need to pay up to 0.5% of the value of your deposit in GBP.
CFD Fees
In some trading situations, you may need to hold your CFD position while observing the market. If you decide to hold your position for over 24-hours, you will have to pay a fee for those hours after the market closes.
Fees on Dormant Accounts
The platform tries to encourage its users to trade actively. That is how they can earn more money. That said, they charge accounts a fee if there is money in their balance but remain inactive for more than twelve months. It is a small fee of only $10, but you should always ensure you find time to trade to avoid paying the price.
On the site, we saw that the company could review the fees they charge at any time. However, they will notify all users if there is any change in the standard costs.
Approved Payment Options
The deposit process is essential. It is the best way to start your trading experience with eToro. They have made it so easy to deposit funds into your account to start trading. We also see that they have included globally acceptable payment methods, which is convenient for many users.
You can make a deposit into your eToro account via a bank credit or debit card, virtual credit cards from reputable brands, PayPal, Neteller, or Skrill. If you live in the UK, you can also do a direct bank transfer.
Generally, the payment methods they allow are fast and seamless. You can start trading quickly because the money you transfer reflects in your eToro account in a few minutes.
However, there is a minimum deposit limit. You can only make a payment of $200 or more to start using the platform. The owners have pegged that amount as the minimum deposit to help all users to start investing with a minimum value that can yield significant profit for them. The Copy Trading Feature
We found another reason to believe that the earning opportunities with eToro never seem to end. They offer a copy trading tool. It is the best tool for new and existing investors who need to make guaranteed profits. With the copy trading feature, you can match your investments with professionals who understand the process.
| 4.8 / 5
⭐⭐⭐⭐⭐ 3147 Reviews! |
✅ Minimum Deposit: $50
✅ Fees: 0.75% to 2.9% ✅ Tradeable Assets: 3056 |
Visit eToro | |
| 68% of retail investor accounts lose money when trading CFDs. |
It is simply copying the investment strategies that an experienced investor uses to earn money. That is to say; you will earn money when they earn.
For example, if you decide to copy an investor who takes 10% of his capital on Apple’s stock, the system places the same investment through your account. Over the months, if the stock value rises by 50%, you earn money. If you initially invested $300, a 50% increase means you just earned $150 without stress.
However, before you use the copy trading tool, you must have sufficient funds in your eToro account. This is an assurance that you can match the experienced investor’s trading tactics, regardless of how much they invest. We like the copy trading feature because it allows you to start earning money from trading without having expert training. Also, you can choose to copy the trading strategy of any investor of your choice. So, it is best to research and find investors who have been making significant profits consistently.
But you must study their trading history to know the risks involved and the average duration of their transactions. With this information, you can make better plans according to your trading goals.
Also, using the copy trading tool allows you to invest in stocks, forex, or commodities such as valuable metals.
We found out that eToro allows you to use the copy trading feature for free. However, you must strive to earn up to $500 for every investor account you copy.
In-House Trading Support
There is a team of experts who can manage your investment portfolio on the eToro platform. This is a convenient alternative to learning how to handle lengthy processes independently.
Also, they allow you to choose from different options for this service. Your choice should be based on your investment goals. Here are the options
Building Corporate Investment Portfolio
If you choose this option, the company gives you access to professionals who can guide you on how to build a portfolio matching the standards at popular banks. For example, you can have a portfolio like the standard in the Bank of America, JP Morgan Chase, etc.
Recurring Dividends
You can also decide to build a portfolio that features stocks from companies that yield regular dividends. In this case, the in-house experts will help you access stocks of brands such as Pepsi and McDonalds, etc.
Investing in Cryptocurrency
You can also diversify your investment portfolio to feature significant cryptocurrency investments. There are so many opportunities in the digital currency market, so this is a great direction for all investors.
Overall, when you want to use the services of their in-house professionals, please take your time to select one or two areas to focus on. This way, you can consolidate your investment and diversify to other areas over time.
However, in the best interest of their users, we found out that eToro regularly monitors the investment procedures. They also set a limit for such investments. You can only use their support staff when you have up to $1,000 in your eToro account.
Features of the eToro Platform
To get the best experience while using eToro, you need to know all about the different features available on the platform. We have reviewed these features, and they work excellently. Please continue reading to know more:
Demo Trading Feature
The demo accounts allow you to have an experience as an investor without using real money. The demo account mimics the trading processes that happen in real-time. It allows you to understand what the trading process requires and how it works.
After studying and understanding the eToro process while using the demo trading platform, you can start trading with real money to earn a profit. We observed that you could use both real-time and demo trading simultaneously. That means, before trying a new feature with real money, you can switch to the demo account to test that feature.
Online Community
The eToro online community is growing at a fast pace. They encourage you and all other users to join the community. You should become active. It is fun to interact with other users.
You can perform actions similar to social media platforms. For example, you can like, reply to comments, and send messages to other users.
For those users who want to remain anonymous, the platform allows that, so you do not need to upload your images.
Multiple Trading Options
Depending on the service you want to use, there are different order options to choose from. These options also allow you to control how your account works during live transactions. That is to say; you can leverage some of these options to lower your investment risks. Buy and Sell Orders
These are the two positions you can take during a market trend. You can decide to hold your investment in hopes that the rates will rise or sell to take the profit available at that time.
Pegging a Market Value
The eToro platform also allows you to specify the price you want to sell your stock or asset. Once the system detects a matching offer, you can authorize the sale.
Close-trade Order
You can set a limit on trading sessions. When you realize your target profit, the system shuts down the transaction. It is a good way to continue earning money even when you cannot monitor the trading personally.
Stop-loss Order
The platform allows you to cap your transactions at a specific value to avoid losses. For example, if you cannot monitor a live trading session, you can set a cap at which the system stops trading. This way, you avoid further losses.
We know that eToro offers some of the best analytics tools online. Users who are experts can leverage these tools to make better investment decisions at all times.
We think it is best to use these inbuilt tools because they are most suitable for the platform.
The main analytics tools you will often use on the platform include trend lines, pricing charts, and special tools, which are classified as technical indicators.
Online Investment Education Portal
New users who need to know more about the investment processes and options can use this feature. All they need to do is spend a few minutes reading the content to understand how eToro works. Reading this free and helpful content is the best way to avoid making mistakes while investing. Also, most of the information in the education section is free. The experts advertise webinars that cover essential investment topics to enlighten new and old investors.
Mobile App
There is an eToro mobile app available to both Android and iOS users. The platform runs simultaneously on the mobile app and desktop. So you can manage your investments on the go.
We observed that the app is user-friendly and it is free from bugs. We tested the main features and did not experience any glitches. Using the eToro mobile app, you can buy and sell your assets or stocks at any time of the day or night. The app works in real-time, which is excellent for trading stocks.
All users who download and install the eToro mobile app are encouraged to set up their notifications to avoid missing any of the amazing deals that pop up on the market frequently.
How Secure is eToro?
First, we know that the FCA authorizes and regulates eToro, which makes it a credible platform for investment. It is essential to check whether the online broker you are using is monitored by a recognized authority. That way, they maintain the standard processes aimed at making the users earn more profits.
Second, we can confirm that the eToro platform is secure and well organized. This means there can hardly be a data breach that compromises the sensitive information you provided while creating your account.
Thirdly, we have seen the platform’s commitment to adhering to financial laws and regulations. They prevent any form of money laundering on the platform by ensuring all users complete the KYC process. This includes providing recent photos, a passport biodata page, proof of address, and contact information.
Finally, the reviews about eToro are excellent. Many of the users have been on the platform for many years. They are earning significant profit regularly and have no complaints about the services rendered.
Customer Service
The platform functions with online customer service. It is a real-time service that is convenient. We also confirmed that you could engage any of the support team members via live chat to get help at any time.
The system supports fast and efficient contact channels such as the use of emails, phone calls, or live chat. We like these choices as it helps users get the support they need quickly.
How to Get Started
There is no time to waste. It is evident that investing online is lucrative. Many people have been earning sustainable income using eToro. You can get started by following these simple steps:
Step 1: Register Your Account
You can get registered by following the simple prompts on the platform. They will require some essential information to get you on board. You will need to enter your full name, contact information, and phone number on the registration form.
Next, you will need to create a username and a strong password. We suggest you make it an alpha-numeric password. The system checks and confirms your information to move to the next phase. You will need to enter a confirmation code that the system sends to your phone number or email address.
| 4.8 / 5
⭐⭐⭐⭐⭐ 3147 Reviews! |
✅ Minimum Deposit: $50
✅ Fees: 0.75% to 2.9% ✅ Tradeable Assets: 3056 |
Visit eToro | |
| 68% of retail investor accounts lose money when trading CFDs. |
Step 2: Verification
All accounts newly opened by users must pass through the verification stage. The system uses advanced tools to detect possible bots or fake accounts. You will need to prove your identity is correct. Also, they may require a short video call and proof that you have been living at the address you provided for over three months. You can show that evidence by providing receipts for utility bills. After completing these verifications, you will receive a notification from the platform that you can proceed to start using your account.
Step 3: Make a Deposit
To start using your account, you need to make a deposit. You can complete this part by using any of the online payment methods that the platform accepts.
The top options to make a deposit include using a debit card, credit card, PayPal, Neteller, Skrill, bank transfer, or other options indicated on the platform. You should choose the most convenient and reliable option to avoid delays in the transaction.
As indicated above, you will be required to make a deposit of $200. This is the minimum deposit required to use the eToro platform.
Step 4: Choose Your Investment
This is where it gets interesting. You can choose from the various investment options available on the platform. Please ensure your choice reflects your investment interests. For example, if you are passionate about cryptocurrency, then you should start building a crypto investment profile.
You can find the investment options on the top right of the web page you land on after registration. Alternatively, if you have identified a particular company’s stock you would like to buy, go for it. You can simply enter the company’s name to find their page. Then proceed to check for available stock offers, prices, and other factors about the deal. Do the same for other investment interests. Entering relevant keywords in the search tab will reveal the company’s investment information.
Step 5: Become an Investor
Here’s the moment you have been waiting for. Secure your first investment on the eToro platform. You need to indicate the capital you would like to invest. Enter the value in the designated space. Please note that you can first use the demo feature to test the investment or trading process before you use your real money to trade.
Also, you should consider diversifying your investment interests. To do this, please consider splitting your initial capital among cryptocurrencies, stocks, and commodities such as gold or silver.
Also, do not forget to set limits such as stop-loss or profit limits. These settings help to protect your investment interests on the open market.
Step 5: Start Trading
Now you are set to start trading on one of the most reliable online brokering platforms available to smart investors. You can activate trading by clicking on the open trade option or matching your investment with an experienced trader during copy trading.
Also, there are buttons that allow you to sell off your assets and leave with your profits.
At any time, you can sell your assets. The profit you earn goes into your account balance. And you can withdraw it when needed.
Conclusion
It is so easy to get started on eToro, and the platform is user-friendly. New investors will like it here. From experience, we can confirm that the platform aims to help you have a better investment experience on the open market.
All transactions on the platform happen in real-time. In addition, they have a mobile app that allows you to use the platform from any location, which is convenient. Also, you can trigger several features that aim to protect your investment interests.
We also like the fact that eToro has removed many of the regular fees other platforms charge. Thus, they make it easy for new users to earn significant profits without stress.
| 4.8 / 5
⭐⭐⭐⭐⭐ 3147 Reviews! |
✅ Minimum Deposit: $50
✅ Fees: 0.75% to 2.9% ✅ Tradeable Assets: 3056 |
Visit eToro | |
| 68% of retail investor accounts lose money when trading CFDs. |
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