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eToro is a veteran Forex broker that was founded in 2007 under the name RetailFX in Israel. This brokerage is one of the pioneers of social trading, and in 2020 the company announced that over 8,000,000 accounts had been opened at eToro. eToro has attracted over $162 million in funding and has thrived by offering cryptocurrency trading options that most other Forex brokers don’t offer. eToro released its cryptocurrency wallet in 2020 and followed through with the acquisitions of Dutch blockchain company Firmo and Belgian crypto portfolio tracker app developer Delta in 2020. It claims to operate in 140 countries and has over 11,000,000 active users to date, which makes it the largest social trading platform and Forex brokerage in the market.
Unfortunately, we had no way to verify those claims during this eToro review. In 2020, eToro was valued at $800 million. Technology fulfills a critical role at this multi-asset brokerage, and it remains an interesting one to monitor.
Regulation and Security
eToro’s main headquarters is located in Tel Aviv, Israel. This brokerage operates from regulated entities out of Cyprus, the UK, Australia, and the US. eToro Europe operates under the Cyprus Securities and Exchange Commission (CySEC) jurisdiction under license number 109/10. As a result, it is exposed to the Financial Instruments Directive 2020/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive. Per EU Directive 2020/49/EU, traders are protected by the Investor Compensation Fund (CIF) with maximum coverage of €20,000.
eToro UK is authorized and regulated by the Financial Conduct Authority (FCA) under license 583263. Traders enjoy the protective scheme of the Financial Services Compensation Scheme (FSCS), up to £85,000. eToro AUS Capital is authorized by the Australian Securities and Investments Commission (ASIC) under Australian Financial Services License 491139. eToro USA is registered with FinCEN.
Client accounts are segregated from company funds, as stipulated by regulatory requirements. While eToro remains fully compliant with all its regulators, it was fined €50,000 by CySEC due to structural operational weaknesses in 2020. Quebec blacklisted this broker in 2020 as an unauthorized foreign company because eToro marketed binary options trading through its platform to Canadian citizens. Despite a few regulatory missteps, traders may trust this brokerage. All required documents are published on its website, and transparency is taken seriously.
CySEC is the primary regulator for eToro, covering the majority of its traders.
eToro remains regulated by CySEC, the FCA, and ASIC.
Spreads (no commissions are charged) on over 2,000 assets comprise the majority of trading fees at eToro. The spread for the EUR/USD is listed as 3.0 pips, but the AUD/USD is listed as low as 1.0 pips. These fees are considered high for the industry but considering that eToro offers social trading services not offered by other brokers, the cost may be justified, if not at least understandable. The fee structure increases for equity CFD trading, which we found unnecessary and frankly, surprising during this review. The spread is fixed at 0.09% of the price, but financing costs make this asset class less than ideal for trading at eToro.
eToro is considered a market maker. Swap rates on leveraged overnight positions add a solid revenue stream to this broker. The precise fees for each asset may be obtained from the trading platform. Corporate actions like dividends and mergers will be credited or debited from eToro accounts, depending on the direction of the impacted positions. A $25 withdrawal fee applies which is often waived by other brokers.
eToro also levies a $10 inactivity fee per month on dormant accounts.
What Can I Trade
eToro over 2,000 assets, a very impressive range that is not found at most other Forex brokers. eToro covers the Forex market, ventured into the cryptocurrency markets, and allows diversification through commodities. It additionally provides traders a broad choice of equity CFDs, enhanced by index CFDs, and completed by ETF CFDs. The overall asset selection is comprehensive, allowing traders to diversify portfolios properly. Spreads on currency pairs remain on the high side but not overly unreasonable compared to the value of the social offering. Commodities and cryptocurrencies offer more competitive advantages in terms of fees.
Equity CFDs are commission-free, but financing costs do exist.
ETF CFDs are priced a bit on the high side.
Cryptocurrency CFDs are where eToro shines, with a great selection and costs which are competitive.
eToro presents the same CFD account to all retail traders, but the most significant difference is the regulatory environment. This broker operates under CySEC, FCA, and ASIC jurisdictions, and each provides a different protective scheme. A professional account is available for traders who qualify. Traders may request an Islamic account, but a minimum deposit of $1,000 applies. The Islamic account comes with reduced overall trading costs and allows traders to access all assets.
The minimum deposit is listed as $50.
The identical CFD trading account is provided to all retail traders. Qualified traders may request a professional upgrade to an account with better trading conditions.
eToro is extremely proud of the proprietary webtrader platform that it offers traders. The trading platform fully supports eToro’s CopyTrader, and CopyPortfolios, social trading opportunities that are the main focus of eToro’s offerings. The platform is enhanced through TipRanks, granting traders insights from over 15,000 analysts covering equities. ProCharts enables manual traders to conduct technical analysis. Basic trading features are similar to those at other platforms, and we were delighted to see during this eToro review that the broker’s proprietary platform offers a cleaner interface as compared to MT4.
A serious downside of the eToro platform is a lack of support for autotrading systems. Social trading, however, is executed thoroughly at eToro, which can provide a solid alternative to autotrading, though it should be understood that each of these trading styles has advantages and disadvantages and that they aren’t necessarily interchangeable. eToro is one of the only Forex brokers we’ve reviewed that has shunned the MT4 platform entirely, and sidestepped all of the benefits that this popular platform offers. That being said, new traders may not notice this omission since the eToro platform is so comfortable to use.
CopyTrader and CopyPortfolios are features deployed by eToro to attract new retail traders to eToro’s unique trading environment. CopyTrader allows users to allocate a portion of their capital to copy others. Each trader maintains full control and may exit positions at their discretion. CopyPortfolios provides similar services but allows traders to copy portfolios which are similar to mutual funds or other bundles of assets. eToro claims that copied portfolios are professionally managed by its investment committee.
Another unique feature provided by eToro is the Popular Investor Program which offers an additional revenue stream to social traders who attract a solid base of followers and have ample assets being traded. Simply put, Popular Investors can make money by generating volume from their followers, as well as enjoying profits from their own trades.
Social traders who expand assets under management will benefit from the Popular Investor Program.
Research and Education
In-depth research is not provided in-house by this brokerage for regular traders, but equity ratings are available via a partnership with TipRanks. A “Daily Market Review” is published, featuring a quick overview of assets with a sentiment analysis based on eToro portfolios.
eToro’s “The Complete Guide to FinTech” provides basic educational content for new retail traders. eToro also manages a blog, covering topics related to trading and company-related topics. Broadly speaking, the outsourced research offers traders the best feature at eToro. That being said, perhaps education isn’t a focus for eToro since most traders are there to copy others, not to learn about the markets on their own.
While customer support is a feature most traders will never require, a good brokerage will make it is easy for traders to connect. At eToro, the bulk of the support is attempted through its Help Center. It includes an FAQ section and an option to submit a help ticket. Clients may also call eToro directly or engage via live chat, which is available 24/5, as is industry standard. According to a blog post published by this broker in 2020, the most convenient form to get support is via OpenBook, where the response time is noted as a few hours.
Bonuses and Promotions
The eToro Club grants special features to traders and has five tiers. Membership for each tier is dependent on the equity value of the portfolio. The Silver tier is granted for deposits from $5,000, Gold from $10,000, Platinum from $25,000, Platinum Plus from $50,000, and Diamond from $250,000. In-house research is available from the Platinum tier. While each account type is the same democratized account, higher deposits are required to be properly served by this Forex broker. A refer a friend program is listed, but no monetary compensation provided.
Opening an Account
Per the standard operating procedure across the brokerage industry, new applications are processed through an online form. At eToro, this process should take less than one minute to complete. The first step will take new clients to the back-office where accounts need to be verified, per regulatory requirements. A copy of the trader’s ID and one proof of residency document will satisfy KYC and AML requirements. Due to the sound regulatory environment, traders may fully trust this broker with their personal information as well as deposits.
Deposits and Withdrawals
eToro traders have a broad range of deposit and withdrawal methods. They include wire transfers, credit/debit cards, PayPal, Neteller, Skrill, Webmoney, Yandex, Rapid Transfer, Klarna/Sofort Banking, and China UnionPay. Not all methods are available to all traders (options seem to vary depending where the trader lives) processing times range from instant to seven business days, and fees vary. Available currencies, as well as maximum deposits, are dependent on the payment processor. Unverified accounts may deposit up to $2,250.
Withdrawals are charged at $25 each. Per regulatory requirements, the name of the payment processor must match the name of the eToro account holder. Overall, the payment options at eToro are great, as expected from an established Forex broker.
- Broker’s Name : eToro
- Headquarter : Cyprus
- Regulation : CySEC, FCA, ASIC
- Type of Broker : Market Maker
- U.S. Clients Allowed :
- Minimum Deposit : $50
- Maximum Leverage : 1:400
- Commissions / Spreads : Spreads
- Account 1 : CFD
- Account 2 : Professional
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Institutional Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : Proprietary platform
Pros and Cons
- Extensive Social Trading Features
- Practice Account
- Highly Regulated
- High Spread
Can you make money with eToro?
It is certainly possible to make money with eToro. At the time of updating this review, eToro reported according to regulatory requirements that 25% of their retail investor accounts were making money when trading CFDs.
How Secure is eToro? Is eToro regulated?
eToro is regulated by the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC). It is additionally registered with FinCEN in the US.
How do I withdraw money from eToro?
You can withdraw money from eToro by clicking on “Withdraw Funds” in the left-hand tab and then following the instructions given to execute a withdrawal of your funds.
Where is eToro based?
eToro is headquartered in Tel Aviv, Israel, but traders are served from regulated entities in Cyprus, the UK, Australia, and the US.
How does eToro make money?
Excessive spreads and financing costs on over 2,000 assets represent the biggest revenue stream for eToro. Unreasonable withdrawal charges add to the profitability, while this broker profits directly from clients’ losses due to its market maker model.
How can I deposit into an eToro account?
eToro supports wire transfers, credit/debit cards, PayPal, Neteller, Skrill, Webmoney, Yandex, Rapid Transfer, Klarna/Sofort Banking, and China UnionPay.
What is the minimum lot size at eToro?
The minimum transaction size for currencies, commodities, and indices is $1,000. Cryptocurrencies can be traded from $25, equities from $50, and ETFs from $500. Those amounts are listed at eToro for traders who use no leverage.
When does a margin-call take place at eToro?
When the equity margin level drops to 50%, a margin call is issued.
What is the maximum leverage offered by eToro?
The maximum leverage is 1:30 for retail clients, but each asset has its requirement. Professional traders may receive up to 1:400.
How do I open an account with eToro?
eToro has an online application form, which is the standard operating procedure.
What trading platforms does eToro offer?
eToro merely provides its proprietary webtrader, tailored for social trading but unfit for automated trading solutions.
eToro is home to over 11,000,000 traders and has established itself as a leader in social trading since its inception in 2007. Two acquisitions in 2020 in this sector express the desire to become a leader in this emerging market. On the surface, this brokerage seems exceptional, with operational statistics supporting a well-managed company. The cross-asset selection is good with over 2,000 assets across six categories. The area where eToro provides its biggest advantages is in the cryptocurrency market, where eToro really offers unparalleled offerings.
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One downside of eToro is the lack of MT4 availability, but the broker’s proprietary platform offers a user-friendly interface that is great for new traders. eToro is proud of its social trading platform and claims that as of June 1st 2020, 73% of 124 million copied trades have been profitable, though we could not verify this claim during our eToro review.
Traders who wish to use social trading at eToro need to provide a minimum deposit of $200, Islamic accounts are available from $1,000. Overall, eToro is a solid broker that is ideal for two main types of traders; new traders looking to copy others and replicate their success, and experienced traders looking to leverage their knowledge as a Popular Investors to earn extra money. If you fall into either of those categories, you should definitely give eToro a try.
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This looks interesting, i think i will give it a try. thanks
I am interested in speaking with anyone hat has made money following other traders. Not someone that has actually made money trading themselves, but has actually made money consistently by following and copying other traders.
Is there someone out there, because I would love for you to come forward if so.
Recently filed complaint with CySEC due to etoro asking for security code information by email. Had sent copies of documents for payout, they confirmed receipt, then asked for all my cvv code info and security info from back of my card even though they said it wasn’t necessary. They refuse to pay me my money now including my deposits and profits. Will keep informed. Trading was fine, made money, just their platform doesn’t work all the time ( example the news feed) So I want to trade elsewhere. Please just pay me.
I think this etoro review makes everything seem so straight forward and rosy. It’s never so good. There are always things that can go wrong with trading and the etoro review is just too good to be true.
I just reread the etoro review and was quite impressed with all the features. I’ve been trading forex for a long time and found the etoro review very informative. Thanks, guys.
Listen you guys, no broker is perfect and etoro forex is one of the better companies out there. Trust me, I’ve tried 5.
I tried using the etoro webtrader and it really didn’t help me very much. In fact, it was really confusing and I wouldn’t use it again.
I love reading all these comments. Some people just like to hear themselves talk. People like to criticize all the time and say bad things. If you have bad things to say about something, just don’t say it.
Yah, but it really does cover we need to know about etoro forex. What do you expect from a review–it always seems to make things sound great but etoro forex really is pretty good.
I’ve been using etoro for several years and I do think it’s better than other online brokers. It has never steered me wrong and I like it a lot.
I don’t think etoro is any better than other brokers. There’s really nothing great about it. It’s ok and sometimes it works but not always.
I found etoro USA to be very efficient. It is also convenient to have etoro USA as my local broker because I don’t have to go out of the country to do my trading.
etoro’s webtrader is great for new traders. If I didn’t have etoro’s webtrader to help me, I don’t know what I would have done.
Etoro’s openbook is the best trading platform I have ever used. It has got to be the greatest social trading platforms ever created. Through etoro’s openbook I can see what other traders are doing and copy them. I just hope they know what they are doing.
No you can’t. You can’t turn off etoro openbook. It has to stay open to everyone. I’m sure of that.
You’re so stupid. If you don’t want everyone to see you trading on etoro’s openbook, you can shut off your screen. I know this is possible.
I’m not so happy with the etoro openbook platform. Why do I want to know what other traders are doing? And I don’t want them knowing what I am trading. Maybe I am doing the wrong moves and then they will see and copy me. I like etoro or trading, though. It’s not a bad company
Yes, Etoro sucks !!
There are lots of issues with it !!
There webtrader is too slow and un resonsive :@@
Even when you want executed your trade .It will not execute fast as you will want
Come on stop spams. We all know that eToro is the Best but of course if we do not trade properly then we lose and we have to blame some one!
come on be honest people!No company give the support eToro gives!if you cannot withdraw money then simply send your documents because eToro does not accept scammers!
if you lost money then shut up!
ifyour account manager did not help yoo then ask to change it but the new one will notTrade for you it is your skills that will help you!
If you do not have skills then copy the besty traders because 15 000 people Copying Nmarijus or waleed0987 or Moksel cannot be Wrong!
Just do not sit there and play it clever because eToro Rocks!
Maya, I’ve never heard of anyone getting charged for a demo account. You shouldn’t have to give in your information to open one, so how/why would they charge you?!
Will I be charged already if I use the demo account?
You guys are all full of crap. I’ve been trading with eToro for 3 years, never had a single problem – you’re probably just pissed because you lost or because you can’t figure out how to use a Forex brokerage. I read a ton of eToro reviews before signing up, and found most of them to be accurate – and most people do have positive experiences with eToro. Just get your account manager to help, and practice before you invest, and you’ll be much better off.
SCAM SCAM SCAM!
Last week and this week was a bad week for traders and just like most traders i made wrong trades and i took risk with 50% of my account. but i was ready to deposit more money if the market goes against me. so euro and australian dollar drop 400-500 pips, so my account was left with 10% of my balance, so i try to deposit more money, but when i try to pay with my visa card, i get message that talk to support.
i get support and they say i have to send my passport copy and utility bill and they review it and then i can deposit money, but the first time i deposit money without any documents, they only ask for registering online and pay with visa, no document nothing.
so i asked the support person first time i had no problem depositing money and now that my account is wiping out , etoro is asking for document and by the time etoro review my document and allow me to deposit money my $2000 account will be zero. they say this is company policy.
so when they get a chance to destroy you they will, i will never trade with them again and i thought i should share this with fellow traders.
very bad broker, and scam artists, not let me withdraw my money. they say problems with my paper work and this broker never ask for paper in the start. no other broker do this. everyone ask for paper in the start. but this broker dont want to pay anyone and believe that no one can withdraw money. so they ask for documents when you ask for withdraw. and i want my money and i send them document. they say i can not get my money back . and no problem with my paper. 4750 Euros. if you have 200 Euros and up look some where else.
Their stoploss is fixed. This is the worse this that a trader can experience. You would loose everything when you wake up on the following morning.
The platform is nice and easy to use, and the advanced chart option is good as well. But there are also a few problems with etoro which made me look for a better and more reliable broker: 1. their system can lag quite badly when there is heavy movement in the markets. Have tried several times to execute a trade, and then it moves 10 pips before it is actually traded, which can ruin the potential profit from the trade. Sometimes I have also had problems closing a trade, and had to wait for several minutes for the system to work. 2. their support is really bad! When you complain about the lags, they tell you that the are not the market makers, as if I am stupid or something, and at best, they apologize but there is nothing they can do. 3. sometimes their charts and data stop updating, without telling you so. Then when it updates again, it can move significantly one way or another. 4. you cannot have advanced graphs and trades in the same window. 5. I also often get kicked out of the system without being able to log right in again. At first I thought all the connectivity issues could be my internet connection, but I´m using a 20Mbps dedicated line, and all other pages I have tried while etoro.com is lagging, works just fine.
I have used etoro for a short time with their practice account and I had the worst online customer service session possible with some Natalie character who acted like questioning some of their methods made me stupid. I just tried to ask a few simple questions such as having more than 1 practice account to try different trading methods, can I reset my practice account, can I close my account . and the answer was NO to everything and the tone of the answers was very arrogant. I tried to get another person on live support and kept getting the same Natalie who right away made some smart-ass remark when I said I wanted to talk to someone with someone else . just terrible!
I have used etoro for about 7 months now, made some early losses but now made trading history is 98.6% in profit, so its not bad, i do have some glitches to report that people might not quite understand as I don’t always explain them well, but they are a little annoying at times. 1. their servers can be slow to respond, in a fast market when things are moving quickly you want to open or close quickly, it seems the busier the movement in currency pairs the slower their servers respond and you can miss optimum open and closes 2. they take FIVE, yep 5 pips on a gpb/usd trade, most are 3, I have asked them for an improvement in this, I am a VIP member with them and 5 pips is taking the michael! 3. you have to open trades in defined brackets, i.e. you can open a trade with $100, $200, $400, $5k, $10k etc, trouble is, if i have say $8,970 I have to settle for a $5 trade rather than one of my chosing. this is real annoying, the other money just has to sit there not earning its keep 4. its the same with take profit and stop loss, its pre-defined, you can alter it once the trade is open, but, i use a lot of automated trades and when setting up an automated trade you dont have much control over this, which is just crazy, so for instance i place an x10 order of 10k at 1.6000, in the night it hits this 1.6000 and opens, now i quite often like small short trades and happy with take profit of $200, but, with the platform you can only take profit of 25% of your open position, which on an x10 10k trade is never likely to happen, if i could set the take profit to what i want chances are the trade opens and closes in the night and i wake up to money, this i love so, there weekend hold over fees are quite expensive as well, not sure if there are any that do it for free, unlikely but I am looking. They also offer a mobile platform now that i have wokring on my android phone, its good, not quite as good as desktop app but not bad, it does force close quite a bit. they aint bad, but, they have silly userability issues that annoy me, i am trying to work with them on these
The etoro is pathetic in terms accepting error at their end. Their reason is always – Its technical issue and we can’t help. Like I lost my all amount put on one trade because it was closed as stop loss was wrongly executed by etoro. On providing screenshot that the stop loss rate never reached their reply – “We can’t be always accurate in Stop loss. Its technical issue and can’t help”. There are other issue with copy trade feature. If trader close in loss position, your trade will not always close and may subsequently lead to loss if untracked because you thought its copy of other trader. I think, all features are sort of gimmicks and etoro is pathetic broker for retail users.
Nice post! eToro offers different payment options including PayPal , Neteller, which is very convenient to deposit into his/her account and make fast withdrawals.
etoro, is a newbe trader. the STOPLOSS IS FIXED. THAT is for all people lose all your money. look, study and you will understand all i telling you. use etoro demo account, for learning uses, but dont open a real account. u will lose, study what mean the stoploss and what mean the stoploss is so close to your trade.
Dr Shaun Hutchinson
I have started using eToro now for about 3 weeks. I have never traded before and never used any other brokers. All I can say based on my experience with eToro and from what I have read online, is that I am glad that I am using eToro. I can see why World Finance Magazine voted them most innovative trading platform in 2020. I have only one issue with their platform, and that is their charting functions. So I use Metatrader 4 instead. Besides I think using independent charting helps to keep tabs on eToro and act as a control so to speak. Otherwise I do think eToro is doing a brilliant job, and I have no complaints.
I don’t know what you’re talking about, I’ve been trading with eToro for a long time now and it’s excellent, the software, the execution, the service everything. sounds like someone can’t handle a few losses.
I lost few goods positions (crashing when changing stop loss or freezing (too) long seconds to validate an action . ) Theirs servers are slow, we know it, they know it. But the application should manage that. I mean a server not responding is one thing, but an application that crashed because server is not responding is another thing. Even more for forex trading. But this interface is a nice effort ! And i’m sure that developers are working on that timeout prob, at less it’s what i would work on.
After discussing the issue with my account manager at eToro, I came to the conclusion that it was all a misunderstanding. eToro’s support checked what I sent them and showed me that a part of it was due to technical problems on their side and a part was because of my side. eToro took responisibility for the technical problems on their side and compensated me for the amount that was lost because of the technical issues. I thank my account manager for his help on this one and I have to say my impression of eToro improved because of this story. I saw that their support department is helpful and together we solved the issue, however, not as quick as I expected. I would say after all this, eToro was willing to help, for which I will continue trading with them. PS: Jack Daniels, I get the impression you are from eToro. Anyway, either if you are or if you aren’t, please dont take a whack at anyone and reply like that. If you have any honest review about eToro, do that without calling others names. DONT EVER talk to somebody like that. All are humans, and everyone has freedom of speech without hurting an individual.
that’s bulls##it man, you probably lost some money on trades and now you’re trying to blame them. if the progrma is stuck, what good will it do you to stay glued to the screen? that won’t help! you probably went against the direction and lost everything, take responsibility for your trades and don’t try and blame the platform.
Best Copy Trading / Social Trading Brokers 2020
Social trading is based on the social media model. The structure involves traders being able to follow a trader they respect and admire. Some call it using the wisdom of the crowd to enhance your trading. You can then use copy trading to allow you to follow the trades of more experienced traders. This hopefully comes with reduced risk. Many social trading platforms allow for extra analysis too, and the ability to avoid having to spend money to venture out into the world of trading. It’s for that reason that social trading is popular among new traders.
So what makes a great social trading environment? Well, the first requirement is surely about trust and reputation. If the platform is a high quality one, they will have developed trust over time. You’re also looking for social trading brokers that offer the best trading conditions, including the lowest fee structure or spread. There is also a real customer service culture, with questions and problems being addressed very quickly. Regulation is exceedingly important in this era, with a level of trust and protection that comes from that.
We’ve compiled the following list with the help of experts in their field. We sift through huge amounts of data and research in order to compile this list. In addition to this, we also take great care in compiling and incorporating our user feedback.
The brokers below represent the best Social trading features
|Broker||Rating||Official Site||Regulations||Min Deposit||Max Leverage||Trading Platforms||Foundation Year||Publicly Traded||Trading Desk Type||Currencies||Commodities||Indices||Stocks||Crypto||Commission on trades||Fixed spreads||offers promotions||Official Site|
Regulated By: CySEC
Foundation Year : 2020
Headquarters : Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines
Your capital is at risk
OctaFX was founded in 2020 and offers Forex ECN trading, as well as CFD trading on Indices, Metals and Cryptocurrencies, across the MetaTrader and cTrader suite of trading platforms for Windows Desktop, Web (Windows and Mac) and Mobile (Android and iOS), as well as their own OctaFX Trading App.
OctaFX users can also access the broker’s copy trading services where they can follow other traders. This can be accessed through the OctaFX Personal Area, users can filter through different providers and simply click on a provider to start copying their trading activity.
What is Social Trading?
Social trading is a new and exciting way to delve into the world of online trading. It’s said to be the most recent evolution of online trading and offers a unique take on the analyzation of financial data and conducting trades. Social trading utilizes social networking trading platforms to exchange financial information, compare and copy trades, techniques, and trading strategies of fellow investors. Social trading allows both novice and experienced traders the opportunity to more easily overcome the learning curve and benefit from the best and most experienced traders. The idea of social trading was first brought into effect in 2004 by the company called Tradency. Due to the increased use in social networks, there became an increasing desire to utilize social networks in trading platforms. Hence the evolution of numerous social trading platforms. Now, more than ever social trading has become very popular among investors of all levels.
Social trading sites provide their users with a variety of community based tools to share and further develop their knowledge for making more informed trading and investment decisions. Such tools and features include; the ability to view other users’ portfolios, analyze their trading history, current trades, and overall performance. You can read their news feeds and see where they pull their information from. You can communicate on forums, ask questions, exchange insights and strategies, and even develop important investment relationships. All this transparency can be very useful in developing your own strategies and making informed trading decisions. But not only can you learn from all this, you can strait up copy a trader’s every move if you choose with a feature called “copy trading”. This allows you to experience first hand which strategies work, what to invest in, and how to become a successful trader yourself.
How Can Forex Social Trading Benefit You?
Social forex trading can be especially beneficial to a new and inexperienced trader. As a novice trader in the forex market, it can be very difficult to learn the ins and outs of trading forex. There is a very steep learning curve and it can be a daunting task to delve in and start trading on your own. Therefore, social trading is such an attractive and beneficial option to new traders and investors. It gives them the ability to learn what works from other traders, and provides you with all the necessary information in an interactive, community based platform. Besides this, I’ve outlined some key beneficial factors below.
- Traders of all levels can benefit from a social trading platform – You now know how a novice investor can benefit from copying the trades and learning from a more experienced trader, but they’re not the only ones who benefit. Traders who are followed receive commissions on their winnings from those who copy them. So why not trade forex on a social trading platform right? Also, even successful traders can learn and copy other traders to expand their expertise or delve into areas they are interested in, but not well educated about.
- You can benefit from various trading styles and methods – On social trading platforms, you can choose to follow and copy whoever you want. You may take a riskier approach copying trades with high volumes, or be more conservative with smaller volumes traded less frequently. The traders risk level, success, and history is all available for you to make an informed decision based on your needs.
- Social trading offers more informative analysis – Instead of analyzing data and trends yourself to predict the market, you have a whole group of people sharing their thoughts and tactics with you. You can ask questions in forums, and engaging users will be happy to shine light on any thoughts you have.
- Forex trading can be somewhat mundane, but Social forex trading is fun – Trading can be lonely and mundane, but trading on a social network with like minded people, interacting, providing insight, showing off techniques, and making money is an exciting way to trade forex. Some of these social trading platforms offer competitions and tournaments to add another level of excitement and fun to trading forex.
Copy trading is an amazingly innovative feature in the world of social trading. It’s what attracts so many users to the social trading platforms. Unlike mirror trading, copy trading allows traders to automate their trades by copying the movements another investor makes in real time. If they make a trade, you trade; if they win, you win; and if they lose, so do you. You set the amount of funds you want to allocate to this copied trader and the trades they make are proportionate with the amount of money you attach to them. It’s a very useful feature for traders who don’t necessarily have the time to trade as a traditional forex trader. You can simply fund your account, leave it alone and hope to see it grow, or you can monitor and learn how they trade.
When copying a trader, you do have some flexibility and can set your own stop losses/take profits, choose what positions the trader has you want to copy, and choose to discontinue copying if you please. There may be different rules and regulations pertaining to copy trading depending on the platform you use.
This is a new form of trading, and is becoming increasingly popular with many people creating full “people-based” portfolios. Instead of watching trends in stocks or forex, they create a portfolio based on the people they copy and follow. It’s similar in a sense that you still should analyse graphs, their historical data, risk score, and strategies used. Like other portfolios, you need to keep up with the latest trends and what your investors are doing. If you are not happy with someone, you can drop them and move your funds somewhere else.
Pros and Cons of Social Trading
Social trading is such an attractive option, with all the transparent information between successful traders. Their strategies, insights, and everything out in the open, how could you go wrong? By now you’re probably thinking, “Wow…social trading seems amazing! All I have to do is copy a successful trader and watch my money grow…It’s so easy!” Well, yes it can be very profitable and a viable solution for an inexperienced trader looking to break into investing, but like all investment platforms, there are advantages and disadvantages to trading on platforms like these. See below our complete list of the pros and cons of social trading.
- It’s possible to make money without too much effort on your part. That is, if you take the time to make an informed decision on who to copy. If you do find a viable trader to copy, there is much potential to make money with little to no more effort, (passive income).
- You can join in and start trading with very little knowledge of the market. For inexperienced traders, they can learn from being active in the platform, copy other traders, ask questions, read news feeds, and study all the viable information available via the social platform.
- It can be better than making those tough decisions yourself. If you are an emotional trader who can become very stressed, lose a lot of sleep, or breakdown from the wrong decision. It can be best to let someone else do this and copy their positions without thinking much of it.
- You can manage risks more effectively by following a diverse number of traders with smaller amounts. There are many successful traders on social trading platforms with various strategies and risk scores to choose from.
- Social trading platforms are generally simple to use and have intuitive interfaces with access to everything you need with their magnificent level of transparency.
- Whether you’re trading manually or copy trading, its still very risky. Especially in the forex market-its pure gambling.
- Finding a reputable and successful trader to copy can be a daunting task in itself. There are many trending and successful traders out there, that still might be a bad option to copy. There is still risk involved in copying even the best traders.
- Past performance is not indicative of future performance. Therefore, a trader who has a very successful trading history may lose large on one trade, or change up their strategy and become riskier. You must always be aware of the risks involved, nothing is 100% safe while investing.
Social Trading Platforms and Brokers
With the popularity of social trading in recent years, there has been an increase in these types of platforms. Many of the best platforms out there offer the same types of services such as copy trading, and the ability to communicate with one another. Since social trading platforms thrive on being social, the best platforms have the most active users with an engaging trading community. As well, they offer efficient copy trading capabilities and proper analytical analysis of how successful a trader is. Below is a list of the 5 most popular social trading brokers.
- CMS Trader
- FxPro SuperTrader
There you have it, a comprehensive overview of social trading and everything it has too offer. The evolution of trading and social networking has led to the innovative trading platforms that is social trading. It has so much too offer and is a true spectacle of modern trading technologies. The level of transparency, communicative aspect, and copy trading features are what set social trading apart from all other platforms. With careful insight and knowledgeable use of social trading, as an investor there is much potential to further your skills, or sit back and create passive income. Below you’ll find the list of the very best social trading platforms.
eToro is a global multi-asset platform that lets users trade traditional stocks, shares, and major cryptocurrencies. Compared with other crypto trading services, it is a fully regulated exchange with more than 10 million registered users worldwide. Launched in 2007, it has been an active advocate for Bitcoin and cryptocurrencies and has been offering Bitcoin trading since 2020. In 2020, it also launched its crypto trading platform and wallet in the United States. The service is ideal for new traders and investors who want to learn and experience the best of both crypto and traditional finance worlds.
- Web address: eToro
- Support contact: Link
- Main location: Limassol, Cyprus
- Daily volume: ? BTC
- Mobile app available: Yes
- Is decentralized: No
- Parent Company: eToro Group Limited
- Transfer types: Bank Transfer, Credit Card, Debit Card, Crypto Transfer
- Supported fiat: USD
- Supported pairs: 16
- Has token: –
- Fees: Medium (Compare rates)
- Easy to use
- Highly social and regulated platform
- Ability to follow and copy other traders
- Helpful ‘virtual account’ training feature
- Withdrawals don’t work for all cryptocurrencies
- Not an exchange, so there’s no buyer/seller marketplace
- Only crypto trading in the U.S.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The information below is not investment advice.
eToro key features
eToro is an ideal social trading and multi-asset platform for investors who are new to the investment world. The platform has been pioneering online investment space since 2006 and has earned its reputation as a credible broker. eToro platform is an excellent option if you’re interested in cryptocurrency or traditional assets like stocks, commodities or ETFs, and operates as a one-stop-shop for all these products.
Disclaimer: Indicative prices for illustration purposes.
Advanced traders may benefit from eToro margin trading, which allows you to access a myriad of trading instruments with leverage. Less experienced traders can benefit from eToro social trading where you can follow and copy seasoned investors, their research, and insights.
Note that the recently launched eToroU.S. platform allows trading cryptocurrencies only, but other asset classes are coming soon.
The key features of eToro include:
eToro social trading. eToro offers a unique social trading experience, which makes it the best social platform for traders. You can follow, copy, interact with your favorite traders, and create a custom news feed to keep tabs on your preferred assets and their news.
Best platform for learning. Plenty of educational materials, including a virtual portfolio for training.
A vast range of assets. Aside from 16 cryptocurrencies, you can also learn and trade in traditional markets like stocks, bonds, forex, ETFs, commodities, and other markets.
Excellent customer support. If there’s an issue, you can reach eToro’s team via phone, live chat, and support ticket. Besides, the platform is translated into more than 20 languages. The customer service is available Monday to Friday 24 hours per day.
Mobile trading apps. eToro is easily accessible on the go so that you can make trades from your Android or iOS powered phone.
eToro global trading instruments include:
- 47 currency pairs (including EUR, USD, CAD, GBP, AUD, PLN, SGD, SEK, JPY, and many others).
- 13 stock index CFDs (SPX 500, UK100, NSDQ100, China50, AUS200 and others).
- Over 1300 stock CFDs.
- 83 commodity CFDs (including oil, gold, silver, copper, natural gas and platinum).
- 16 cryptocurrencies (BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, EOS, NEO, XLM, IOTA, TRX, ZEC, BNB. XTZ).
The U.S. customers can trade cryptocurrencies only for now but that is likely to change anytime soon.
Disclaimer: Cryptocurrencies are a highly volatile unregulated investment product. No EU investor protection.
Sign up on eToro 62% of retail investor accounts lose money when trading CFDs.
In this eToro review, we focus on its fees, usability, security, deposit and withdrawal methods, and the company’s background.
Founded in 2006, eToro has a history stretching further back than Bitcoin and crypto. It started its life as an online foreign exchange brokerage. In 2020, it launched its famed copy-trading feature, which enables users to copy the investment strategies of successful traders.
It made its first move into crypto in January 2020, when it began offering Bitcoin trading to the three million users it boasted at the time. At the time, these were contracts for difference (CFD) trades, which meant that the trader didn’t purchase the underlying asset (e.g., bitcoin). Instead, it constituted an agreement that he or she will either pay the difference if the asset drops in price, or will receive the difference if it rises. However, eToro switched to offering direct trades in crypto in September 2020, so now you actually own and can withdraw the cryptocurrencies you buy into eToro wallet. Since March 2020, eToro is finally open to the US residents.
eToro’s core team. Source: eToro.com
Today eToro boasts over ten million users, with its growth primarily driven by the crypto boom. And for a platform of its size, its interface is streamlined and straightforward to use, while its mobile app makes managing your portfolio on the go painlessly convenient.
Compared to ‘standard’ crypto platforms (e.g. Coinbase, Kraken, Binance), eToro’s fee structure is a little different, and slightly complicated.
Since eToro is a brokerage service and not an exchange, it doesn’t charge trading fees the way regular crypto exchanges do. However, you’ll pay something called “spread fees” when selling crypto, and when buying crypto using leverage (i.e., when borrowing from the platform to make a purchase). In other words, if you want to sell (or margin trade) a cryptocurrency, you have to pay a percentage of the sale price. This percentage derives from the ‘spread’ of the asset and constitutes the difference between its ‘buy’ price and its ‘sell’ price.
For example, if you sell one bitcoin at a market price of USD 7,000, you’ll also have to pay 0.75% of the value of this one bitcoin (0.75% being the current BTC spread value at the time of writing). Assuming that 1 BTC equals USD 7,000, you’ll have to pay USD 52.50.
And for any advanced trader taking out a leveraged position on a cryptocurrency, eToro also charges ‘overnight fees,’ which are often referred to as ‘rollover fees’ on other crypto trading platforms. Because the trader is borrowing money from eToro to hold a trading position, eToro essentially charges them interest.
Spread and overnight fees at eToro
Let’s review the spread and overnight fees for some of the most popular cryptocurrencies currently listed on eToro:
|Cryptocurrency||eToro Spread Fee||eToro Overnight Fee (per unit)|
As indicated by the table above, overnight fees for BTC are pretty steep. By contrast, traditional crypto platforms are cheaper. For instance, Kraken charges 0.01% every four hours when holding leveraged BTC/EUR or BTC/USD trades. So, if someone has a trade worth 1 BTC on Kraken, they’ll have to pay around 0.00056 BTC if they hold onto this position for 24 hours, whereas an eToro customer would pay approx. 0.0075 BTC.
Similarly, the spread fees generally mean that trading buying or selling crypto on eToro is more expensive than trading on other platforms. For example, Binance and Bitstamp each charge 0.1% for every trade a user makes, which compared to eToro’s spread fee of 0.75% for BTC is noticeably cheaper.
And lastly, eToro also charges withdrawal fees and inactivity fees. The withdrawal fee is a flat USD 25, with users being allowed to withdraw amounts of USD 50 and above. Meanwhile, the inactivity fee is $10 per month. It is charged to every user whose account hasn’t been active for 4 or 12 months, depending on whether they have made a deposit.
Note that eToro adjusts its fees according to the market conditions, so by the time you read this review, they may already be different.
eToro charts. Disclaimer: Indicative prices; current market price is shown on the eToro trading platform. Visit eToro 62% of retail investor accounts lose money when trading CFDs.
Security of the platform
If you were to review eToro’s website and platform, you would find that eToro has experienced no significant scandals in the past. Nevertheless, security isn’t eToro’s major selling point. It is mostly because, up until 2020, cryptocurrencies weren’t directly traded and transferred using the eToro platform. Instead, users held a contract for difference (CFD), meaning that they agreed to either pay or receive the difference if the price of a coin sunk or rose.
In other words, eToro didn’t hold any crypto that was owned by its customers. There was no need for it to use the kinds of security measures deployed at competing crypto platforms, such as cold wallets and multi-sig verification.
Today, it does offer direct cryptocurrency, but the website doesn’t specify what crypto security measures it takes to protect customers’ assets. Mind that eToro wallet keeps your private key, so you have to trust the platform to keep your funds secure. That said, it does hold its customers’ holdings separate from its bank accounts. Also, eToro deals only with major, internationally recognized financial institutions, such as Barclays Banks and Coutts. Besides, eToro is one of the most secure platforms in terms of its general compliance with financial regulation, being regulated by CySEC in Europe, FinCEN in the US, and the FCA in the UK.
Go to eToro 62% of retail investor accounts lose money when trading CFDs.
While eToro offers a couple of essential features that make it highly suitable for starting and novice traders. It provides a Virtual Portfolio, which is a ‘demo mode’ that lets users trade without staking any real money. Using this mode, you can buy as much ‘virtual’ bitcoin, dash or XRP as you like and watch how each cryptocurrency performs.
eToro’s use of copy trading is excellent for traders who don’t feel confident in their ability to consistently select winners. With the CopyTrader system, eToro lets you copy the best-performing traders in a variety of asset markets (e.g., commodities, stocks, ETFs, and crypto). You choose how much to invest, and then it mirrors every action the trader takes. Besides, users can make adjustments here and there (such as copying only new trades rather than all open positions).
The layout of eToro’s platform is user-friendly and easy to navigate. The user has a control panel on the left-hand side of the screen. The right-hand side shows all the charts, data, and profiles you’ll need to make your investment choices. Likewise, eToro’s mobile apps allow you to do pretty much everything you can do on the desktop version of the platform. The ability to receive notifications on the go means you’ll be able to stay on top of your trades regardless of where you are. The apps are available for both Android and iOS devices.
eToro social trading
eToro social trading feature. Dislcaimer: Indicative prices; current market price is shown on the eToro trading platform.
eToro’s copy trading enables you to copy the actions of traders of your choosing. It is like having seasoned traders from all over the globe trade on your behalf. You can follow specific traders in the social feed, monitor their actions in real-time, and opt-in to copy everything they do.
As such, eToro is the social media platform of traders that bridges the gap between you, your favorite traders, and favorite markets.
Disclaimer: Past performance does not guarantee future results. Trading history presented is less than 5 years and may not suffice as basis for investment decision.
eToro deposit and withdrawal methods
At the moment, eToro users can deposit only fiat currency into their eToro account, unless you transfer cryptocurrency directly to the eToro wallet. Besides that, you can use your credit/debit cards and a variety of other options, such as wire transfer and PayPal. All fiat funds held by eToro are actually in US dollars, so if you deposit EUR or GBP into your account eToro will convert it to USD. As such, you will incur a conversion fee.
Withdrawals work in much the same way, with credit/debit card, bank transfer, and PayPal options all available. However, there is a flat fee of USD 25 for every withdrawal, so make sure to plan your withdrawals to avoid extra costs. The eToro crypto wallet also allows the platform users to hold and withdraw cryptocurrencies it supports.
eToro withdrawal methods.
eToro is a unique social investment platform with a diverse variety of investment products. Although it comes at a higher cost compared with regular crypto trading services, the benefits outweigh the costs as eToro offers significantly more. Overall, eToro is an excellent place to start learning about the online investment world, diversify your portfolio, connect with other investors, and build a career as a wholesome trader.
Visit eToro 62% of retail investor accounts lose money when trading CFDs.
Frequently asked questions (FAQ)
Where is eToro based?
eToro has offices in London, United Kingdom, Sydney, Australia, New Jersey, USA, Israel, and Limassol, Cyprus.
In which countries eToro is legal?
eToro is accessible in most countries in the world. Due to the challenges and legal regulations, eToro is not available in the following countries: Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Botswana, Brunei, Burundi, Canada, Chad, Congo Republic, Crimea, Cuba, Ethiopia, Guyana, Guinea & Guinea-Bissau, Iran, Japan, Laos, Libya, Mali, Myanmar, Namibia, Nicaragua, North Korea, Palau, Samoa, Serbia, Somalia, Sudan, Syria, Turkey, Uganda, and Yemen.
Due to regulatory reasons, eToro is also unavailable for the US citizens who reside outside of the US.
Is eToro regulated?
Yes. eToro is regulated by the Financial Conduct Authority (FCA) in the United Kingdom, Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission in Australia.
Is eToro trustworthy?
eToro is one of the most trustworthy platforms out there. It has been operating since 2006, have a good track record, cooperates with the law, and is regulated by FCA (United Kingdom), CySEC (Cyprus), and ASIC (Australia).
How does eToro make money?
Like most platforms, eToro earns when users pay fees. The most common source of income spreads, but there are also overnight fees, currency fluctuations, exchange rates, and leveraged trading.
What happens if eToro goes bust?
Leaving your funds on eToro introduces additional counterparty risk. Despite that, eToro is a member of the Investor Compensation Fund for Customers of Cypriot Investment Firms which compensates the clients of bankrupt forex brokers. Nonetheless, the maximum payout is 20,000 EUR per client, so if it goes bankrupt, you could lose at least some of your funds without a refund.
Does eToro pay dividends?
eToro is one of a few brokers that does pay its brokers dividends. You reap all the dividends multiplied by leverage, as stated in the dividend calendar. They will show up under the “Refunds” section and will be used to pay for the platform’s accrued fees. If the net difference between the “Refund” amount and fees is positive, you will be credited with the difference when the trade is closed.
Does eToro have fees?
eToro does not charge any deposit or trading fees except for spreads. There is also a $25 withdrawal fee and extra overnight and weekend fees for CFD positions. The size of the fee varies per traded instrument.
What is the minimum deposit for eToro?
The minimum deposit on eToro is $200.
How do I invest in eToro?
After you open an account on eToro and make the first deposit, you can invest in various CFDs and cryptocurrencies with a simple few clicks. Alternatively, you can copy other traders moves and invest together with them.
How do I deposit in eToro account?
eToro supports many deposit methods, including credit and debit cards, wire transfers, PayPal, Skrill, Neteller, Webmoney, and UnionPay.
How do I withdraw money from eToro?
eToro allows you to withdraw money through the same methods used for making deposits. These include wire transfers, credit and debit cards, e-wallets, and cryptocurrency transfers from eToro wallet to an external wallet. The process takes approximately 24 hours.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as
well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing
money rapidly due to leverage. 62% of retail investor accounts lose money when
trading CFDs with this provider. You should consider whether you understand how
CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short
timeframe and therefore are not appropriate for all investors. Other than via CFDs,
trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory
Warrior Trading Blog
- Value For Investors
eToro has grown to be a great broker providing a wide range of services – from trading hundreds of financial instruments to social trading where members get to socialize with other members while learning at the same time. We think this is an excellent service and one worth checking out!
eToro is one of the world’s most popular social trading platform. Having been at the forefront of the Fintech revolution, eToro has made available a wide array of trading tools to its users. As a result, it has disrupted the traditional world of trading and investment.
eToro’s journey started in 2007 when two brothers – Yoni Assia (CEO) and Ronen Assia (Chief Product Officer) set out on a mission to make trading and investment accessible to anyone, anywhere. Basically, they helped to lower the dependency on traditional trading and investment institutions.
The first product offered by eToro in 2007 was FX trading. As an online trading platform, it featured intuitive and easy to use tools which made trading fun. Two years later, eToro introduced a cutting edge and intuitive webtrader. Thanks to the new product, users around the world were now able to trade multiple financial instruments using professional tools.
Today, it has grown to become a Fintech leader and one of the most popular trading platform that enables traders from around the world to trade cryptocurrencies, stocks and commodities among others.
In our in-depth eToro review, you will get to learn more about eToro’s features, services, fee structure and why it’s a great social trading platform.
eToro Features and Services
To begin using eToro’s powerful trading tools and features, you must first sign up. Currently, eToro accepts registration from over 170 countries around the world. To create an account, simply navigate to the upper right corner of the home page and click “Sign Up.”
Thereafter, you will be redirected to the sign up form.
The email will contain a unique link which is supposed to activate your account. Once you have activated your account by clicking on the link, you will be required to verify your identity.
eToro requires you to provide proof of address and identification documents. To verify your status, browse to your profile and select “Complete Verification.” Once you have passed the verification stage, you will now be able to trade and use all their trading tools.
Deposit and Withdrawal
To start trading, your account must be funded. Currently, eToro allows users to deposit a minimum of $200 to $500 before starting to trade. To deposit, simply log into your account and click “Deposit Funds.” Next, select the minimum amount required which should appear in the “Select Amount” section.
To ensure worldwide customers are able to access eToro services, the company accepts a wide range of deposit methods. They include:
All major Credit Cards – MasterCard, Visa and Maestro among others
Wire Transfer (minimum deposit is $500)
If your account has yet to be verified, it will be limited to a total deposit amount of $2,250. For corporate accounts, a minimum first time deposit of $10,000 must be made.
All withdrawals take 1 business day to be processed. Account holders are required to provide the necessary information before the withdrawal process is initiated. For funds to be reflected in your account, it may take 3 to 8 business days depending with your original deposit method.
At eToro, traders are allowed to trade the following financial instruments:
To begin trading, you must sign in to your account. Simply click “Log In” from the upper right corner of eToro’s homepage and a sign in form will be presented to you. Input the required data, click submit and you will be redirected to your account dashboard.
On the left panel of your account dashboard, you have an easy to use menu that allows you to navigate the trading platform. Here are the available menu items:
Invest in CopyFunds
If you are well versed with trading, you can start by creating your stock watchlist. From here onwards, you can analyze trends using charting tools, enter and exit trades as well as anticipate upcoming trends by analyzing the news.
The minimum amount needed to open trade positions (Buy) depends on the asset:
For commodities and currencies, minimum amount is $25
For stocks, minimum amount is $50
For ETFs and Indices, minimum amount is $200
Introduced in 2020 as a long term thematic investment tool, this new product is driven by powerful machine learning technology designed to provide maximum gains. Defined as the next generation investment product, it allows you to invest in two types of CopyFunds:
Market CopyFunds – includes commodities, ETFs and CFD stocks under a single market strategy
Top Trader CopyFunds – includes the highest performing traders
The CopyFund service also helps traders to minimize their long term risk as well as promote growth. In addition, it allows the creation of diversified investments and also takes copy trading to a whole new level.
To get started with CopyFunds, simply log into your account, select “Invest in CopyFunds” and choose a strategy that fits your needs. Add the amount you are willing to risk and finally click “Invest.” There you go. You now have a fully allocated portfolio.
From here onwards, your funds will be managed professionally by a team of investment specialists from eToro. As time progresses, your CopyFund will be analyzed and re-balanced automatically thus improving your returns.
Introduced on January 2020, Open Book is the world’s first social trading platform. It is designed to allow traders from around the world to join eToro as it continues to revolutionize the Fintech industry. Basically, traders at eToro can copy investment strategies from high performing and sustainable traders.
Open Book utilizes the powerful CopyTrader feature. Currently, eToro does not charge its customers to copy other traders. As a social trading platform, eToro allows you to copy trade any investor of your choice currently active and registered at eToro.
This means, for any trades opened by the traders you have copied from, they will be opened in your account too. This will be subject to a proportional percentage of your deposit.
Traders and investors can enjoy the copy trading service without fear that the spreads will change. The good news is that they remain the same whether you have copied a trader or are trading manually.
Since eToro is a social trading platform, it has invited successful traders and investors from its platform to join its Popular Investor Program. As a result, the trader will gain a loyal following and be paid for getting copied.
eToro Mobile App
In 2020, eToro introduced its mobile trading app to its users. The mobile app allows its traders to access their account, track their portfolio and even make changes to their profile while on the move.
To ensure its customers don’t miss any opportunity, eToro has included all its professional trading tools as available on its webtrader – Open book, Trading tools, Stock Watchlist, Cryptocurrency trading News Feed and CopyTrading among others.
Currently, the mobile app is compatible with Android and Apple iOS smartphones and tablets.
eToro’s Trading Academy
If you are a newbie to the world of trading, you can now learn how to create a stock watchlist, how to analyze news, how to close trades and even how to copy high performing traders from eToro’s Trading Academy. As an online education and training platform, it offers a wide range of learning tools that includes guides, videos and live webinars among others.
In addition, it offers a quick way of learning how to harness the power of social trading so as to maximize your returns and connect with high performing traders from around the world.
As a broker, eToro does charge a fee from each spread which is usually the difference between the buy and sell price of an asset. To make it easier for its users to know what fee is charged for which financial instrument, eToro has categorized the fees under asset type namely commodities, ETFs, stocks and cryptocurrencies among others.
For instance, if you are trading commodities, eToro charges the following fees:
Platinum – a spread of 15 pips
Natural Gas – a spread of 10 pips
Copper – a spread of 2 pips
Silver – a spread of 5 pips
Gold – a spread of 45 pips
Oil – a spread of 5 pips
When it comes to stocks, eToro has unified the spreads and the fees are as follows:
0.09% spread per side
As a result of the new update on stock fees which was made on January 15th, 2020, eToro users will not be charged any management fees, ticket fees or rollover fees.
For cryptocurrencies, eToro charges as follows:
Bitcoin- a spread of 1.5%
Bitcoin Cash – a spread of 5%
Dash – a spread of 3%
EOS – a spread of 3%
Ethereum – a spread of 2%
Since 2007, eToro has grown to be a great broker providing a wide range of services – from trading hundreds of financial instruments to social trading where members get to socialize with other members. As a result, not only has the company been able to gain many users from around the world – over 7 million from over 140 countries- but it has become the most popular social trading platform.
As a global Fintech leader, eToro protects your funds using industry leading security protocols and when it comes to privacy, it has a no share policy on users’ data with third party platforms unless permission is sought from the specific user.
During our eToro review, we found one major drawback – long withdrawal period – 3 to 8 business days.
The good news is there are tons of trading features to play with and you can even earn money when you join eToro’s Popular Investor’s Program.
All in all, eToro is a great social trading platform that will not only help you to increase your trading experience but maximize your returns.
From time to time we refer third-party products or services to you. We may receive compensation from those third parties whose products or services we refer, however, our reviews and recommendations are independent of any compensation we may receive. There is no obligation for you to interact or transact with these third parties.
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Before I started trading, I would make $1000 in 2 weeks. Now after taking the warrior trading course, I can make that in a single day, at 26, I now own my own house and I am fully independent, thank you warrior trading for everything you have done for me, my future looks brighter than ever!
I had a job I didn’t really like and I was forced to live five thousand miles away from my home Country. After joining Warrior Trading, I can trade from anywhere and my income is more than doubled. Thanks to this community, it now feels like I’ve been given the keys to absolute freedom.
After 3 years of trading as a student my portfolio has net more than $230k. For year 2020, in less than 6 months I’ve net more than 140k. With Warrior Trading’s mentorship and my investment knowledge prior to coming on-board, I developed my own short term swing trading strategy.
On January 24th 2020 I started with $690 in my account. In March I made $4,433.89 and by April, my account was up 1,000%. I’d made $6,900 in 42 trading days.
I think trading is the only place in life where I can say I am totally responsible for my outcomes. That’s huge in a world where previously waiting on someone else to make decisions about my income felt like a prison. I now have full autonomy.
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If you do not agree with any term of provision of our Terms and Conditions you should not use our Site, Services, Content or Information. Please be advised that your continued use of the Site, Services, Content, or Information provided shall indicate your consent and agreement to our Terms and Conditions.
Warrior Trading may publish testimonials or descriptions of past performance but these results are NOT typical, are not indicative of future results or performance, and are not intended to be a representation, warranty or guarantee that similar results will be obtained by you.
Ross Cameron’s experience with trading is not typical, nor is the experience of students featured in testimonials. They are experienced traders. Becoming an experienced trader takes hard work, dedication and a significant amount of time.
Your results may differ materially from those expressed or utilized by Warrior Trading due to a number of factors. We do not track the typical results of our current or past students. As a provider of educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers.
Available research data suggests that most day traders are NOT profitable.
In a research paper published in 2020 titled “Do Day Traders Rationally Learn About Their Ability?”, professors from the University of California studied 3.7 billion trades from the Taiwan Stock Exchange between 1992-2006 and found that only 9.81% of day trading volume was generated by predictably profitable traders and that these predictably profitable traders constitute less than 3% of all day traders on an average day.
In a 2005 article published in the Journal of Applied Finance titled “The Profitability of Active Stock Traders” professors at the University of Oxford and the University College Dublin found that out of 1,146 brokerage accounts day trading the U.S. markets between March 8, 2000 and June 13, 2000, only 50% were profitable with an average net profit of $16,619.
In a 2003 article published in the Financial Analysts Journal titled “The Profitability of Day Traders”, professors at the University of Texas found that out of 334 brokerage accounts day trading the U.S. markets between February 1998 and October 1999, only 35% were profitable and only 14% generated profits in excess of than $10,000.
The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy. Day Trading is a high risk activity and can result in the loss of your entire investment. Any trade or investment is at your own risk.
Any and all information discussed is for educational and informational purposes only and should not be considered tax, legal or investment advice. A referral to a stock or commodity is not an indication to buy or sell that stock or commodity.
This does not represent our full Disclaimer. Please read our complete disclaimer.
Citations for Disclaimer
Barber, Brad & Lee, Yong-Ill & Liu, Yu-Jane & Odean, Terrance. (2020). Do Day Traders Rationally Learn About Their Ability?. SSRN Electronic Journal. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2535636
Garvey, Ryan and Murphy, Anthony, The Profitability of Active Stock Traders. Journal of Applied Finance , Vol. 15, No. 2, Fall/Winter 2005. Available at SSRN: https://ssrn.com/abstract=908615
Douglas J. Jordan & J. David Diltz (2003) The Profitability of Day Traders, Financial Analysts Journal, 59:6, 85-94, DOI: https://www.tandfonline.com/doi/abs/10.2469/faj.v59.n6.2578
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