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eToro Broker Review 2019

  • Min. Deposit $200
  • Min. Invest $25
  • Return n/a

eToro is an multi-asset platform. This means that traders can experience different types of trading like social trading and CFDs as well as other products. eToro is a regulated platform that has several licenses, including CySEC (eToro Europe Ltd), 109/10). Even thouse who don’t trade have probably heard of eToro. eToro is present in over 170 countries, and more than 4.5 million people use their platforms. Such a great number of traders makes eToro top choice among traders who wish to try social trading or copy trading. You can choose to copy one trade or the entire portfolio.

In this eToro review, we will introduce you to the trading interface, features, account types and customer support that this broker has to offer.

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Account Types

eToro offers you to choose what type of trading you prefer, but there is one that is more popular among traders than all the others – social trading. Social trading allows you to see what other traders are up to. You can easily see what trades are placed, what traders are profitable and then copy them! Social trading is a great solution for everyone who can’t place themselves or doesn’t trust their own decision. Still, we advise traders to always approach trading mindfully and don’t copy random trades. Just like random trading, random copying rarely brings results.

When it comes to trading conditions on eToro social platform, they are very similar to those of FX broker. Leverage for FX trading goes as up as 1:30. Cryptocurrency trading offers no leverage, while stocks have up to 1:10 leverage, ETFs up to 1:5. Commodities have up to 1:100 leverage. The minimum deposit with this broker is $200, which we found to be a reasonable price.

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Demo Account

Traders who wish to check out the platform first can use the eToro demo account. The demo account has $100,000 virtual money. Traders can use this virtual amount to test the platform, learn more about tools or test their strategies. It is important to understand how demo account can’t make you any money as the money is virtual, just like coins in an online game. Still, the platform is real. All traders are assigned with a demo account immediately upon registration. Just make sure to select “virtual portfolio” on your trading interface.

eToro Trading Platform

etoro has a proprietary platform that was developed to suit their traders’ needs. The reason why they decided on such an approach is probably that this way they can offer several ways of portfolio management. eToro allows traders to try copy and social trading or traditional manual trading.

eToro Copy Trader

Traders who wish to copy other traders simply have to click “Copy People” on the trading platform. They will immediately be presented with top investors. The platform also includes some relevant data, for example, the success rate in the past 12 months, the number of traders who are copying from this particular trader, and change in copiers in the past 7 days. Traders who want to know more about traders can see the risk factor, as well as asset allocations, return through time, most successful assets, etc. All this provides a great insight into how a trader should approach copy trading. eToro offers customizable trading thanks to different features. For example, you can activate copy trading and set the limit on the cut off value. The platform will stop trading as soon as the value is reached.

eToro Trade Markets

Trade Markets is manual trading. Traders won’t be able to use any special charts and tools like those available with MT4. eToro could put some effort into creating a more inciting interface for manual trading, as not all traders want to use copy trading.

eToro CopyPortfolio

CopyPortfolio comes in different shapes! You can choose Market CopyPortfolio, TopTrader CopyPortfolio, PartnerCopyPortfolio… This trading approach is considered to be less risky than traditional investing. For example, you can copy the entire portfolio of most profitable traders, instead of only individual trades.

Popular Investor Program

This service is aimed towards more experienced traders. They can offer their trades to others, and make some extra money. The amount you will get in the end is based on 5 factors:

  • Performance
  • Risk involved
  • Number of people following you
  • Trading history and style
  • Additional info (experience, etc.)

eToro Assets

eToro traders can use 45 currency pairs, 7 commodities, 950 equities, and 12 indices.

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Customer Support

eToro offers good customer support. Traders can be reached via the live chat window. Live chat is very convenient and easy to use. Also, agents respond quickly and in a polite manner. Customer support is available 24/5.

This platform offers a great FAQ section that will be perfect for traders who wish to find answers without any assistance.  There is no local support for South Africa.

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro Deposit and Withdrawal

eToro offers a variety of deposit methods. The minimum deposit is $200. This can be considered the industry average. You can deposit with eToro by using

  • MasterCard
  • Maestro
  • Visa
  • Diners
  • PayPal
  • BankWire
  • UnionPay
  • Skrill
  • Neteller

The minimum withdrawal is $50. Deposits can be done in USD, EUR, GBP, JPY, AUD, RUB, CNH and CAD. South African rand is not accepted. All withdrawals are subjected to a $25 withdrawal fee. Also, you may have to pay additional fees to your credit card provider or e-wallet. Considering how most brokers charge only bank wire withdrawals, this was an unpleasant surprise.

66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

eToro - Review Conclusion

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