2-Step Verification requires you to sign in both with your password and a security code sent to your phone (via SMS or phone call), which adds an extra layer of security to your account. For more details about the categories considered when rating brokers and our process, read our full methodology. We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The etoro forex broker review final output produces star ratings from poor (one star) to excellent (five stars).
Deposits and withdrawals on eToro
- Based on all you’ve learned in this guide so far, you’ve found out that eToro is safe.
- It’s important to note that coverage varies depending on your region and which eToro subsidiary you’re registered under.
- With a keen interest in the evolving digital finance landscape, Fatima has a strong understanding of the crypto ecosystem and the crucial role that exchanges and wallets play in it.
- There is no telephone support and the live chat reserved for members is difficult to find according to the opinion of users.
New users can test the entire experience using a $100,000 demo account — with full access to real-time markets, CopyTrader, and portfolio tools. EToro supports investors from over 100 countries, but asset availability varies depending on your location and local regulations (e.g., US users can trade only crypto, no stocks or ETFs). If eToro went bust, clients would have their share of the segregated money investments returned, minus any administrators’ costs from handling and distributing these funds. If things always worked like this, the protection amount would be only a formality. Founded in 2007, eToro is an online broker that made its name through its social trading platform.
The platform’s popularity also reassures new users that eToro is safe. All-in-all, these aspects make the eToro platform quite appealing to both new and experienced traders. Many people love how easy it is to navigate eToro and that the social trading feature allows users to follow and copy the trades of successful investors. Not only does this unique feature help traders learn from experts, but it also builds a sense of community.
How to trade with eToro
“Phishing” is an attempt by criminals to procure or intercept personal data from users by imitating a trustworthy entity, for example, with fake websites, e-mails, phone calls or SMS messages. All NerdWallet reviews and lists of the best investing products are created by our editorial team of full-time writers and editors, independent of any business relationships. In this case, our investing team’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency.
Say, instead of owning barrels of oil, you invest based on how much oil prices go up or down. Leverage is available if you want to start with smaller amounts but can still be risky – up to 20x on main indices for European clients, and even 100x for eToro Seychelles clients. IYou may have seen some of the ads for eToro and are now thinking, “Is eToro safe” or “Is it worth it? ” Well, in this eToro review we are going to take a deep look at the things that set this platform apart. The portfolio section gives you access to see your open positions and manage them. Let’s imagine that in January you started with an equity of $2000, you lost $500 through trading, and deposited an additional $1000 and later that month you gained $1500 through trading.
In my opinion, this has less to do with eToro and more with the nature of the retail trading industry. Yes, eToro is considered safe from a compliance point of view due to the following four factors. However, I encourage you not to overlook the most significant risk factor on eToro – you. The fee starts to add up once you start depositing larger amounts. A $10,000 deposit, for example, will trigger a $150 fee (one way). I believe this is an intentional strategy by eToro, as it encourages beginners to stick with copy trading.
Smart Portfolio
The intention is to misuse this data to steal money from account holders. CFDs are leveraged, meaning small market moves can lead to big gains—or losses. It’s essential to understand margin, stop-losses, and how quickly a position can move against you before trading CFDs. Beginners can navigate easily with intuitive tools, straightforward trade execution, and helpful onboarding guides. However, some advanced traders may find the platform lacking depth for more complex strategies. Investing carries inherent risks, including the potential loss of principal.
Feature Comparison
It provides commission-free trading for U.S. stocks and ETFs, along with cryptocurrencies like Bitcoin, Litecoin and Ethereum. EToro presents a comprehensive trading solution with abundant features, a user-friendly interface and diverse asset offerings. Fatima Rodriguez is a freelance writer that has been in financial journalism for over 5 years. With a keen interest in the evolving digital finance landscape, Fatima has a strong understanding of the crypto ecosystem and the crucial role that exchanges and wallets play in it.
- By contrast, Robinhood focuses on U.S. markets with $0 commission trading for stocks, ETFs, and options in a streamlined app.
- You can easily trade your favorite securities directly from the Watchlist.
- It charges (higher than average) currency conversion, inactivity, and withdrawal fees, which you must familiarise yourself with before trading.
- Others have voiced frustration over account migration to less strictly regulated jurisdictions.
- You can also buy cryptocurrencies and hold them in the eToro Wallet.
All other subsequent deposits must be at least $50, while by wire transfer the minimum amount is $500. You can also buy and sell Ethereum, Dogecoin, Polkadot, Chainlink, Ripple, Litecoin, Dash and many other cryptocurrencies (the list is updated periodically). Precious metals market analysis including gold and silver price predictions. Crypto market analysis including highly accurate BTC ETH SOL XRP forecasts.
But beginners should be cautious with CFDs due to higher risk. Spreads vary by asset and are the primary cost of CFD trading. Leverage magnifies potential returns but also increases losses and risks. Overnight and weekend holding fees apply, which can make long-term leveraged positions costly. EToro is a modern investing platform that allows you to connect with other investors.
However, beginners should be aware that the simplicity of the platform doesn’t mean trading is risk-free. Despite strong security and regulation, eToro has its share of user complaints, especially concerning customer serviceand withdrawal delays. Some traders report slow response times or difficulty resolving disputes.AI‑powered strategies to grow your portfolio with confidence VSL Funnel AI. Others have voiced frustration over account migration to less strictly regulated jurisdictions. Social media-like feeds of user thoughts and comments are present throughout the eToro platform. These comments may be helpful in sparking trading ideas for those new to the crypto world, but their quality is not assured.
With a strong background in both institutional and retail investment sectors, Thomas ensures all content meets the highest standards of accuracy and relevance. Of course, the SIPC does not cover you if you simply lose money on a stock; it’s only if your brokerage can’t give you the money already in your account. This means that your stocks and deposited cash are protected in the event that eToro goes out of business and you’re unable to liquidate the assets in your account. Equities trades are truly commission-free, and there aren’t any hidden trading fees.
This structure limits risk and aligns with regulatory expectations for investor safety. Yes — eToro is a legitimate and fully regulated trading platform. It operates under strict financial supervision across multiple jurisdictions, including the UK, EU, and Australia. Its regulatory status helps ensure user protection, platform transparency, and responsible financial conduct. The platform mainly earns revenue through spreads, which represent the difference between the buying and selling price of an asset.
EToro copy trading lets you mimic real traders, and you can protect yourself with copy-stop-loss settings. Still, profits depend entirely on whom you follow and market conditions. EToro holds all client funds in segregated accounts with reputable global banks such as J.P. These safeguards remain even in the unlikely event of insolvency, maintaining clear separation from company assets.