eToro review 2024: Products and Features

In January 2022, eToro also launched stock and ETF trading for US investors. This means that you can now manage cryptocurrencies, stocks, and ETFs under one portfolio. In addition, its available stock and ETFs are of free commissions, and traders can purchase both fractional and full shares of securities. EToro USA is a popular cryptocurrency exchange and investment platform that is best suited for beginners interested in automatic investing tools, Smart Portfolio options, crypto wallet storage, and more.

But its crypto selection is fairly limited compared to other crypto exchanges. EToro charges a 1% fee for buying or selling crypto assets on its platforms. For stocks and ETF trades, there is no commission, and the broker foots the bill for regulatory transaction fees when you sell a stock. We also considered other features, including the option for desktop trading, advanced trading features, customer support and research, foreign transaction fees, the option of holding fractional shares and the types of accounts on offer. IG offers an extensive range of investments, including foreign exchange, commodities and cryptocurrencies, but does not offer the option of buying fractional shares. It offers a good choice of investments, including foreign exchange, commodities and cryptocurrencies, together with the option of buying fractional shares.

1. Its flat platform fee may appeal to investors with higher value portfolios, while no platform fee is charged for investors making 12 trades in a year.
2. EToro has expanded its offering to become one of the top-tier crypto staking platforms that offer popular staking coins such as Cardano (ADA), Tron (TRX) and Ethereum (ETH).
3. The practice mode has the same appearance as a funded account and users can switch between the real and demo modes.
4. EToro takes it a step further by making it possible to “copy” their portfolios with one click.
5. EToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

For seamless transfers, users can link their bank account or can choose to deposit funds via wire transfer instead. Withdrawals of U.S. dollars can be made directly to the user’s bank account. Once an account is established, investors can buy or sell assets on eToro’s web-based platform, or on its user-friendly app. If you don’t know what to buy, you could use the CopyTrader feature to replicate the trades of one of the traders in eToro’s Popular Investor program. EToro is a popular multi-asset brokerage firm that covers financial investment services in stocks, bonds, commodities, exchange-traded funds (ETFs), foreign exchange, and cryptocurrencies.

Other trading platforms

He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column (“Ask a Fool”) that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina etoro forex broker review and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.

Methodology: How We Reviewed eToro

That said, eToro has made significant progress in this category, and the addition of new courses and content on the eToro Academy brings eToro closer to the best brokers in the education category. EToro’s research offering is competitive and continues to improve year-over-year. The addition of weekly video updates that include market analysis alongside research articles from in-house analysts has elevated eToro’s research offering, bringing it into closer competition with the best brokers for market research. EToro’s main innovation is merging self-directed trading and copy trading under a unified trading experience. Meanwhile, converting from crypto to crypto at eToro only costs 0.1% (in addition to prevailing spreads).

Other major U.S.-based exchanges offer hundreds of cryptocurrencies on their platforms. However, if you want to invest in top cryptocurrencies alongside equities and manage all your assets in one place, eToro could be right for you. EToro USA isn’t the best choice for traders who want a variety of cryptocurrencies to choose from. The platform has a more limited selection, while Coinbase offers more than 250 cryptocurrencies.

eToro Crypto Review 2024

A few of our selected providers also offer trading in more specialist assets, including foreign exchange, commodities and cryptocurrencies. However, these assets are highly volatile and suitable only for experienced investors. EToro caters for day traders and long-term investors, giving users the freedom to buy a wide number of assets including stocks, cryptoassets and ETFs on 16 exchanges across the globe. So while it is free to trade shares on the eToro app, those that hold assets for long periods or regularly withdraw money will quickly see the fees mounting up. UK users also need to be aware that there is an additional currency conversion fee applied each time you deposit money.

Customer Support

Where we promote an affiliate partner that provides investment products, our promotion is limited to that of their listed stocks & shares investment platform. We do not promote or encourage any other products such as contract for difference, spread betting or forex. Investments in a currency other than sterling are exposed to currency exchange risk.

EToro is best for:

Even without using CopyTrader, users can view millions of other traders’ portfolios, stats and risk scores. (While they have full access to all public profiles worldwide, U.S. clients can copy only other U.S. users). 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. Social media-like feeds of user thoughts and comments are present throughout the eToro platform.

In the UK, eToro users can also choose to trade contracts for differences (CFDs). If the trade goes wrong, you can end up owing money as well as losing your initial investment because contracts involve borrowing capital – 81% of retail investor accounts lose money when trading CFDs with eToro. This advertisement contains information and materials provided by Robinhood Financial LLC, Robinhood Securities LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood.

Some of the platforms charge other types of fees, such as inactivity fees and withdrawal fees (for accounts held in an overseas currency) and fees for trading by telephone. The account opening process can usually be carried out online or via the app, and the major platforms state it should take around 10 minutes. You’ll need to provide some basic information, such as bank account details, debit card details (for a lump sum investment) and your National Insurance number.

With a range of useful features for new and experienced traders alike, eToro has a lot to offer those interested in investing in stocks, ETFs, and cryptocurrency. EToro is often referred to as the “Robinhood of Europe,” drawing comparisons to the U.S. For U.S-based eToro users, the platform offers 15 cryptocurrencies for trade, such as Bitcoin and Ethereum. For international eToro users, the offerings expand to stocks and forex.

Any money held in the ISA will also count towards eToro’s Club programme (more on this below). Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk. You should always check with the product provider to ensure that information provided is the most up to date. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. And if you’re a beginner in the crypto investing space, you’ll additionally have several educational guides to choose from.

This means a fraudster would need access to both your log in details and either your email account or mobile phone to pass as you. However, investing in cryptoassets does incur a fixed fee of 1%, whether you’re buying or selling. It’s possible to invest from an Android or iOS device with eToro’s investing app.

eToro Overview

As with UK shares, any profit on US shares will be subject to capital gains tax, unless you hold the shares in an ISA or SIPP. According to eToro’s disclosures page, they offer securities trading through eToro USA Securities Inc, Member SIPC, FINRA, and a registered broker-dealer. While the Top Performing profiles look very appealing, we urge our readers to do the appropriate amount of research on eToro’s platform to understand how they’ve been able to achieve such results. CopyTrader, in our humble opinion, stands as one of the best features in FinTech. The holding company eToro (UK) Ltd. is based in London, and eToro has additional registered offices in Cyprus, Tel Aviv, New Jersey, Sydney, and Shanghai. Founded in 2007 by entrepreneurs David Ring, Ronen Assia, and Yoni Assia in Israel, eToro has since grown to over 500 employees, operations in 140 countries, and over 13 million users internationally.

Of course, when deciding to buy Bitcoin with actual money, funds can be sent to a safe hardware wallet for safety. To conclude our eToro review, the platform is overall well-suited to investors who are looking to copy-trade profitable traders or learn how to trade. There are several methods to fund a real trading account and supports multiple fiat currencies to get started.