eToro is a social training platform and multi-asset brokerage company having its headquarters in London, Limassol and Tel Aviv- Yafo and operating in over 140 countries having over 11 million users. The company focusses on providing copy trading and other financial services like investment management, stock brokerage, social trading, CFDs, and retail foreign exchange trading to the users. It was founded in the year 2007, by two brothers namely Yoni Assia and Ronen Assia along with the renowned motivational speaker David Ring, who challenged thousands of people from all across the world with his signature message - "I have cerebral palsy... What's your problem?"
eToro serves clients based in the UK through its eToro UK regulating body, FCA or the Financial Conduct Authority. It serves the Australians through ASIC that stands for the Australian Securities and Investment Commission. All other customers are served by a Cypriot entity called CySEC that stands for Cyprus Securities and Exchange Commission. In this article some of the eToro reviews are mentioned for the readers’ perusal.
eToro Review- Join the eToro community and enjoy online trading
Some of the pros and cons experienced by traders in the eToro platform are as follows.
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| It offers commission free stock and ETF trading in the European Union and also offers comparatively low fees for the non-EU users.
|| High Forex fees are inherent features.
| Seamless account opening
|| DWithdrawing money at eToro is a slow and expensive process, which charges a fee of $5 for withdrawal.
| It offers innovative features like social trading that let users copy strategies followed by other traders.
|| It offers only one account-based currency.
How eToro serves as one of the best go-to-trading platforms can be best explained through the following points. Open Free Account
~ With a compact all-in-one design, users have the liberty to trade multiple assets and can also copy the strategies followed by other traders in just one single application.
~ Traders can enjoy the optimum speed and quality with this fastest app.
~ With a huge Social Investment Network, the traders can easily join the Social investors' community that comprises millions of other active traders.
~ Traders can personalize their trading experiences by customizing the trading dashboard according to their preferences and strategies.
~ Traders can also enjoy a seamless experience across multiple devices. Irrespective of the traders' individual and personal experiences, eToro serves them with an amazing gateway to financial liberty.
Here are some of the essential features of eToro UK, eToro Israel, and eToro Cyprus discussed. Have a look below to have an in-depth knowledge of the platform.Open Free Account
Simple to use
The main aim behind the launch of eToro was to open the doors of online trading and investments to anyone and everyone by making it accessible. It started off its journey by introducing even the newbies to the various concepts of investments. Though the platform has undergone a lot of changes as per the demand of the industries, it has maintained its integrity and is still simple to understand. eToro is listed among the world's leading social trading platforms due to its unfathomable endeavor to serve the beginners, with easy access to online trading as well as improving the elements of trading for the more experienced traders. eToro tools are easy to use, on both the web interface and in the mobile app. For this reason, around 6 million-plus people all around the world prefer eToro as their trading platform.
Cryptocurrency traders in the non-US market treat eToro as something like a social media platform. Investors have the liberty to replicate the trading activities of others if they find them more interesting with the help of the ‘CopyTrader’ feature enabled in the eToro platform. This, is however, not yet enabled for the traders based in the United States. Therefore, the clients of eToro can benefit from the collective wisdom of its vast traders’ network with the help of this social newsfeed feature. The popular Investor program also utilizes the full potential of the next-gen social trading platform. With myriads of successful traders using the platform of eToro to share their innovative strategies, eToro offers its clients to have everything that they need to pursue their investments and trading goals.
Many traders face this difficulty of not being able to sit before their computers or laptops because of the everyday challenge that life puts forth to them. For those traders, eToro serves as an amazing platform as it is compatible with mobile phones and other electronic handy devices. With the eToro mobile app, you can easily manage your investments and do your necessities like trade, copy or follow the trending trading social feeds on your mobile.
Fully managed portfolios
eToro serves traders who are interested in both day trading and also for those traders who want access to a more managed portfolio option. The 'CopyFunds' feature that eToro offers looks after the managed portfolios at various levels of high-risk zones and also for various themes.
With eToro, the clients' personal information and funds are safe and secure; eToro takes every necessary initiative to assure this, even amidst high risk associated with online trading. It employs the most exclusive cybersecurity standards, for keeping the funds of the clients safe in tier 1 European banks.
The robust customer service team works all 24/5, to offer professional assistance to the traders whenever they need them. There are exclusive trader programs made available for the clients along with frequent news updates on current financial statuses.
To evade the trading high risk factors that are inherent to online trading platforms, eToro help its clients to make smart investment decisions, by providing them with a wide range of responsible trading features. The fact that eToro is fully regulated and it abides by the strict guidelines put forth by the regulatory bodies like CySEC, FCA or ASIC, makes trading easier. Newbie traders receive guidance while they put their very first steps in online trading, and experienced traders enjoy the risk-management features that eToro provides, to help them trade responsibly.
The ‘CopyTrader’ feature offered by the eToro platform, brilliantly automates the clients’ trading habits. It allocates the specific traders’ funds to copy the trading actions and strategies of other more experienced traders, thereby benefiting the beginners who can easily gain trading insights from the experienced ones and expand their knowledge. The CopyTrader feature and Popular Investor program have now been merged into a single financial instrument called CopyPortfolios™. These investment features use a sophisticated algorithm program to arrive at a collective knowledge of a single and manageable portfolio that the traders can easily invest in.
At eToro, a wide variety of trading tools and courses are available to help the clients to become smart and educated traders or a long-term investor, by smartly evading the high-risk factors. With an aim to promote financial literacy among the clients, the features of eToro enables a smooth entry into the world of online trading, without risking any real money. Every trader after signing up with eToro receives a virtual-money account, with $100,000 credited in it instantly, to help them practice their strategies by honing their skills before they start trading with their real money. eToro also collaborates with leading financial institutions, like Sberbank of Russia or and China’s Ping An Group, to promote financial education in online trading and also to lessen the high risk factors.
Transparency is very important in online trading, and this is what eToro provides exactly. As such, there is no secrecy, and all the clients are entitled to have access to all the social features that eToro comes with. They have access to all the information they need to use the features by operating in full transparency. On eToro, each client who can be copied makes their profile visible so as to enable other users to see them. This includes even the most valuable information like past performance, high risk score, gain, portfolio diversity etc. Moreover, there are no hidden fees or commissions with eToro, as such all the payments are explained in clear and lucid terms for even the beginners to understand them at ease.
eToro in fact serves the traders in an innovative way; like instead of focusing on a single perspective like short term trade or long-term investment, it helps the traders with both. Therefore, if you want your investment trading for a short term or a long-term basis, you have landed in the right platform. eToro serves both with equal ease.
Benefits of Trading with eToro
There are myriads of benefits offered by eToro; some of them are discussed hereunder.
~ It has a very simple user interface that allows even the novice to take up the features of how it works. The free sign up facility attracts many beginners, and in contrast to other platforms, where many beginners lose interest while trading, eToro keeps the traders glued with its inherent amazing features.
~ It allows social trading wherein both the new investors, as well as the experienced traders, are benefitted. The 'copy trading' feature helps the beginners to explore newer and tested strategies by copying them from the more experienced ones while experienced traders get to improve their trading practices by the trial and error method.
~ The eToro app is compatible with all devices; therefore, even if you are unable to sit with your laptop every day, you can still continue trading over your phone or tablets. This reduces the high risk pertaining to losing any lucrative market, thereby reducing the chances to lose money when trading, that you cannot afford to take. This user convenience has made the eToro platform to tip the scale of leading online trading platforms.
~ It allows faster trading experience. Therefore, traders do not need to drag each trading situation. The trading parameters can also be customized easily on the dashboard.
eToro Review- Benefits of using eToroOpen Free Account
Is eToro trustworthy?
eToro is considered to be safe and reliable owing to the fact that its UK and Australian based wings are regulated by the top-tier financial authorities that go beyond any doubts. Just because it looks different from other trading platforms, it does not necessarily mean that eToro is a scam. They are, in fact, a licensed brokerage that is registered by the CIF or the Cypriot Investment Firm. And they're regulated in Europe by the CySEC or the Cyprus Securities and Exchange Commission and in the UK by the FCA or the Financial Conduct Authority. This mitigates the high risks of losing money.
However, for less experienced investors, trading platforms like this may seem like a maze with a lot of pitfalls here and there, with high risks of losing money. Therefore, it is advisable for beginners to learn the time-tested trading strategies from experienced traders before they can implement their own strategies; and when eToro gives you the opportunities to copy other expert traders, why let go of such a golden opportunity to learn those tested strategies.
What are CFDs?
The term CFDs is very familiar when it comes to online trading. CFDs are the acronym that stands for contracts for differences. It is sort of a financial contract made in the financial derivatives trading, that settles the difference in the settlement prices between the open and closing trades in cash.
CFDs are generally settled in cash, but their uses also allow ample margin trading so that the investors and the providers you should consider, need to put up only a small amount of the notional payoff pertaining to the contract.
eToro Review- CFD fees of eToro as compared to other trading platforms
Can I make money on eToro?
Yes, you can make money on eToro. There is no risk of losing money, but make sure of what you are doing if you are investing a large amount of money in online trading. Trading in the eToro platform is undoubtedly profitable, but then there are high market risks associated with it. There are 3 strategies, following which anyone can make money by trading on the eToro platform.
Investors generally make money by trading stocks, currencies, and commodities, but with eToro, there are other opportunities as well. EToro's social trading platform helps the traders to learn the best ways by which they can easily build an audience for themselves and also help others trade successfully.
Social trading allows the newbie traders to copy and follow the various trading strategies that the most experienced and top traders follow. eToro users can do this by simply opening an account on eToro, and they can instantly start searching for the top traders in the system and then copy their trading moves and proven strategies. Rankings for the top traders are done based on the count of successful trades they make. This improves the chances of investors who copy the moves of the top traders to trade profitably.
Becoming an ‘Elite Popular Investor
Along with making money through various investment trades, eToro users receive a monthly fee through EToro's Popular Investor system, which has 4 levels, namely Cadet, Rising Star, Champion, and Elite. At each of these levels, investors earn based on how many copies they have and how many traders they can bring to the eToro platform.
Elite Popular Investors in fact receive 2% on accounts that they have under management or a fixed monthly income worth $1000. They are also entitled to receive up to 30% of the net revenues on the number of clients they can bring into EToro. Moreover, Elite Popular Investors do not need to pay any commissions or fees whatsoever on the trades that they make, through the 100% rebate on the net spreads. This in turn also increases the amount of money each trader brings in.
Refer a Friend
EToro uses a promotion called ‘Refer a Friend’ where a trader can earn up to $20 by referring a friend who opens an account and makes a minimum deposit of $500. However, there is a limit of 10 referral credits that a trader can make individually. The traders on bringing their friends to the EToro platform, can also earn 30% of the net revenues that their friends make, provided the trader is at the Elite or Champion level.
Therefore, joining EToro brings in mammoth financial benefits to a trader. Not only can they join a community of experienced traders and learn their trading strategies, but they also have multiple ways to trade profitably.
eToro Review- eToro bonus referralsOpen Free Account
Few Testimonials offered by traders about eToro
"The best platform for cross-border transactions, diversified products, copying, and long-term investment."
"Excellent, I have been a Popular Investor since September 2019 and a member since 2014. I really recommend this platform for investment. Keep it up, eToro".
"It has been a nice experience with Etoro, I have been trading with them since 2017, and even with some problems, they have been improving their platform regularly...I have withdrawn some earnings with no problem...some things they can improve is their capability to close open positions when there is a lot of volatility though".
"I've been on eToro since 2017, and I think its usability is incredible and unrivaled. Everything is easy and well described, even for trading novices. The communications from eToro are accurate and transparent and, in case of need, your personal account is always ready to explain and help. I suggested eToro to all my friends and my relatives"!
"I have been trading on eToro, and I'm very happy with eToro. It is very easy to use, and you will get updates from eToro every day, which helps you in making better investing/trading decisions. I have never faced any issues or bugs as well which is very good. However, I would recommend eToro to improve customer service- it is good but still needs improvement".
eToro Review- Customers views
How eToro works?
Using eToro is pretty simple. All you need to do is open an account on the eToro platform. Visit the home page of eToro, and you will find a signup option on the upper right-hand side of the page. Signing up is absolutely free, and as soon as you follow the link, you will get a confirmation email to verify your account. On the left-hand side of the dashboard, you will find a profile menu wherefrom you can navigate through the entire webpage of eToro. If you want to start trading, you need to click on the button," deposit funds," where you can make deposits by selecting the payment option of your choice like debit/credit cards, PayPal or UnionPay, etc., and you can begin trading instantly. Next, you can find," Trade Markets" button highlighted, that will take you to the various available markets. You can select cryptocurrencies of your choice. Most of the traders find it convenient to trade with bitcoins. There is a "trade" drop-down menu that helps traders to choose an "order" that will determine the traders' entry and exit points more profoundly.
Is eToro good for beginners?
Yes, for the beginners who want to hone their online trading skills, eToro is the perfect platform for them. Social trading is suitable for novice traders who do not have enough experience in online trading. eToro provides them a robust platform wherein these newbies can learn trading tactics from experienced traders and can even copy their strategies and follow them ardently. Rather beginners can copy trade tactics of more experienced traders more quickly and easily using this platform. eToro displays the most successful traders first according to certain preconceived benchmarks such as several trades won etc.
How do I withdraw money from eToro?
Withdrawing money from eToro is also very simple. The platform uses the same method and is also sent to the same account from which the deposits were made previously. Therefore, there are lesser chances of fraud owing to tampered accounts. Payments are made in the order of priority to which the following categories come based on their priorities; Credit Card, PayPal, and then Bank Transfers. There is a fixed withdrawal fee for each withdrawal amounting to $25.
Along with the withdrawal fee, there might be some added conversion fees for each withdrawal, which are not sent in USD.
As stated earlier, the only drawback that the eToro users face is with the withdrawal process. It is not that they cannot withdraw money from eToro, but that it needs a little more time, and it is expensive. Also, the one account currency is another major downside of the eToro platform that the developers are trying to cope up with.
Therefore, eToro serves as one of the leading cryptocurrency trading platforms currently thriving in the market. An ever-evolving team of experts backs the platform. As such, the platform has managed to maintain its integrity, credibility, and reputation that it aims to achieve so ardently.
The user-friendly trading experience and the excellent customer service that it provides to the traders outgrows all the exclusive functionalities and professional expertise that a trader would ever receive from any other platform. Furthermore, the platform boasts of having myriads of different investment vehicles that allow both the novice as well as the expert traders to diversify their investment portfolios, thereby capturing the most valuable and exciting cryptocurrency market.