eToro
Overall Rating:★ ★ ★ ★ ★ (4.4 / 5)
Introduction★ ★ ★ ★ ★ (5/5)
Licensing & Regulation★ ★ ★ ★ (4/5)
Mobile Trading★ ★ ★ ★ (4/5)
Brand & Functionality★ ★ ★ ★ ★ (5/5)
Registration Process★ ★ ★ ★ (4/5)
Depositing Process★ ★ ★ ★ (4/5)
Product Offering★ ★ ★ (3/5)
Trade Execution★ ★ ★ ★ ★ (5/5)
Banking★ ★ ★ ★ ★ (5/5)
Customer Support★ ★ ★ ★ ★ (5/5)
Trading Tools★ ★ ★ ★ (4/5)

Broker Information

User Rating
eToro
4.3 (86.67%) 6 vote[s]
Leverage From 1:2 to 1:30
Instruments over 1100
Platforms iOS App, Android App, Native Web Platform
Account Types Demo, Professional
Account Currency $,£,EUR
Commissions -
Founded 2006
Customer Support -
Min Funding -
Regulation
  • CySEC
  • FCA
Funding Methods
  • VISA
  • PAYPAL
  • BANK TRANSFER
  • NETELLER
  • etoro
  • etoro
  • etoro

Introduction

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eToro is a financial services company trading as eToro EU LTD. The company focuses on social trading with the aim of opening financial markets to experts and beginners alike, in order to provide everyone with access to the financial markets, eToro’s vision is to offer investors everything they need to connect with one another to, as a group, share and gain financial knowledge through discussion as they trade.

Being at the forefront of innovation since 2007 at the start of the fintech revolution, eToro makes online investment commonly available to everyone around the globe. In 2009, the company added their WebTrader platform, a professional tool used by both advanced and beginner level traders. In 2011, eToro launched the world’s first social trading platform calling it OpenBook. Its primary goal was to enable international investors to find maximum benefit from the fintech revolution by simply replicating the success of others. The platform instantly attracted the attention of global investors and won 2011 Best of Show award at Finovate Europe. Alongside currencies, commodities and other assets, eToro also introduced stocks in 2012 and the wide selection enabled traders to invest in global markets. The company also developed a mobile app to ensure investors always had access. The app offers flawless trading since 2013 on Android and Apple tablets as well as smartphones. In 2015 eToro integrated both social and online trading into one innovative, intuitive interface and by 2016 introduced clients to CopyPortfolios, the long-term thematic investment tool that bundles various assets or top traders under a predetermined strategy. Powered by machine learning, in 2017, CopyPortfolios integrated with the Momentum DD machine learning technology powered by Microsoft with the new investment strategy utilizing artificial intelligence to identify steady traders most likely to provide double-digit returns which it then bundles into a single, fully-managed portfolio.

Licensing & Regulation

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eToro EU Ltd, licensed under several different regulators, the Financial Services Company is subject to regulation and authorisation of the Cyprus Securities Exchange Commission (CySEC), while the company is also holding a license to provide Forex businesses under ICMarkets in New Zealand, Australia and the USA under FXSolutions. The company strives to provide regulated services to international investors, and eToro9UK Ltd is subject to regulation in the United Kingdom by the Financial Conduct Authority and the cross-border licence granted by the FCA also enables the company to provide services in European Economic Area member states. Cyprus Securities and Exchange Commission regulates eToro (Europe) Ltd, and the CySEC license also grants the company to offer services to European Economic Area member states. eToro in the United States of America falls under the operational oversight of eToro USA LLC, a financial entity registered as a Money Service Business with FinCEN. In Australia, eToro AUS CaptialAustralia PTY Ltd is an Australian Securities and Investments Commission authorised company.

Mobile Trading

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eToro wants investors to have access to both investing and trading opportunities wherever they are and therefore offer mobile trading apps available on both Google Play and Apple’s App Store. Anyone using eToro as their online broker can rely on real-time notifications regarding information crucial to making accurate trading decisions. The eToro mobile app comes highly recommended for all traders, which ensures they remain connected at all times and have access to all data needed to make fully informed trading decisions. The trading app by eToro offers flawless services on both Android and iOS smart mobile devices, essentially enabling the user to perform all investing and trading actions after reading all the notifications available on the market-related events. The eToro innovative and intuitive mobile trading app offers more than 1,000 different investment opportunities including commodities, currencies, CFD stocks, ETFs, indices, CopyPortfolios strategies and to Copy top investors.

Brand & Functionality

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eToro has since 2007 taken several measures to provide an online investing and trading service that is accessible to everyone. By perfectly balancing both the improvement of important elements needed by experienced traders and offering easy access to beginners, eToro set itself as a world leader in social trading. Investors can choose between short-term and long-term trading options, while the company also caters to different risk-appetites/profiles. The company takes great pride in its features that enable social trading, which enables all investors to benefit from the wisdom of the wide trader’s network. The CopyTrader system includes a social newsfeed with access to a discussion platform where top investors share their strategies, eToro clients have all the tools they need to pursue their short-term or long-term financial goals. The user-friendly tools are extremely easy to use, and all information can be accessed via the mobile app or company website, which is why over six million investors worldwide, selected eToro as their preferred online trading platform.

Registration Process

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As a new investor, it is important to understand how this format of online trading works since it differs from traditional securities trading. As a trader or investor, you are not actually purchasing any stocks. Instead, you enter a contract for differences also known as a CFD agreement. In the agreement, you are simply bidding on whether a particular stock’s value goes down or up, but the process does not include buying any stock. The streamlined process enables investors to place their orders online in the same fashion as they would deal directly with the market.

Placing orders is carried out via two orders per transaction. These include the options of taking profit and stop loss. By placing a stop loss order, the investor indicates that he/she is willing to risk the specified amount and if the amount is lost the transaction automatically ends. The take profit option works on a similar concept but only applies after reaching a certain profit. You have the option of opening a virtual-money account which is a great option for anyone just getting started in online trading.

The option offers a great way to get a feel for the various markets by practising with virtual money and to learn more regarding the thousands of available assets to choose from and the various approaches to online trading, and by getting a bit of practice before spending real money, you might just be off to a great start when you do decide to risk your money. It is really tempting to start straight away, but it is better to first fully understand all the risks involved, read all the articles, be as prepared as possible and when you are ready you can register for an account. The procedure will require quite a few personal details and your banking details.

Depositing Process

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eToro makes it extremely easy to fund your account in the simplest and quickest ways. The wide variety of available payment options ensure that most methods are available and by following a few simple steps you can quickly start investing. To deposit funds, investors’ first need to log into their accounts, select the deposit funds option followed by selecting the preferred currency, enter your chosen amount and finally opt for the most convenient deposit method. All transactions and banking details remain completely safe, secure and private since eToro uses Secure Socket Layer technology to ensure all financial and personal information remain private.

The broad selection of available currencies at eToro includes USD, JPY, EUR, USD and GBP plus several foreign currencies.

Product Offering

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eToro offers an online brokerage platform that enables international investors to invest in stocks such as BP, Facebook, Nintendo, Nike and Apple, as well as the opportunity to invest in currencies including GBP, EUR and the USD. Cryptocurrency investment includes Ethereum and Bitcoin, while indexes include DAX, FTSE, and NASDAQ, while commodities include copper, gold, silver and oil. ETF investment such as GDX, FXI and DIA, while investors also have access to the next generation products from eToro, which includes the CopyPortfolios investment strategies. With eToro you get the chance to select top traders to manage your funds, while real-time notifications ensure you stay on top of all market events.

Trade Execution

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eToro is a world leading trading platform offering sixteen crypto trading pairs. These include the following six crypto-only pairs, (ETHXLM)Ethereum-stellar, (ETHEOS) Ethereum-EOS, (ETHBTC) Bitcoin-EOS, (BTCEOS) Bitcoin-EOS, (EOSXLM) EOS-stellar and (BTCXLM) Bitcoin-stellar. Cryptos pair trading enables eToro users to benefit from ever-changing currency values, while there are also many other benefits, part of using trading pairs including diversification of your investment portfolio as well as the chance to explore different and new financial markets. eToro also offers traders the opportunity to take advantage of a wide range of markets opened up by the ability to trade cryptos against fiat currencies such as the Japanese Yen, American dollar and euro.

Banking

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Depositing options include Wire Transfer, Credit Cards, Giropay and e-wallets such as Webmoney, Neteller, Skrill and PayPal are accepted. Before withdrawal processing occurs, your account needs to be verified, and the minimum withdrawal amount is set at $50, while the fee is $25. eToro notifies members via email once processing for their withdrawal request completes, and once the withdrawal transaction is processed, it could take up to eight business days for the money to reflect in bank accounts.

Customer Support

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Assistance remains available 24 hours a day from Monday to Friday from the company’s Online Customer Support Centre, while the company encourages corporate enquiries to contact them at any of the addresses in the UK, US, Australia, and worldwide broker service centre as made available on their “Contact Us” page.

Trading Tools

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eToro developed a comprehensive range of key trading tools all completely at the disposal of members to easily mine pertinent data in order for investors to acquire the most accurate assessment and make the best-informed decisions prior to investing funds. The eToro apps, website navigation, informational, and assistive systems all deliver information in a clear, concise, and easy to understand manner making online trading an uncomplicated well-informed affaire.

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