eToro Review

eToro at a Glance

About eToro

eToro has been trading for around 19 years, through at least one full market cycle. Longevity guarantees nothing on its own, but a firm that came through 2008 and 2015 has been tested in a way a recent entrant has not.

It is publicly listed, which brings audited accounts and disclosure duties a private broker does not carry. That is real transparency about the company - though it says nothing about the trading conditions.

The contracting entity is eToro Group Ltd.. This is the company you would actually have a relationship with, and it is worth checking that it is the same one named on the licence you are relying on: large brokers commonly operate several, and they are not equally protected.

Part of Independent. A parent adds resources, but the protections that apply to you are the ones attached to the entity that holds your account, not to the group.

Regulation and Safety

eToro holds tier-one authorisations from ASIC, FCA, CySEC and MAS. That matters more than any headline spread: it determines your leverage cap, whether losses can exceed your deposit, and what happens to your money if the firm fails.

It also operates an offshore entity (FSA). Which one you are onboarded to depends on where you live, and the two carry very different protections - worth confirming before you deposit.

ASIC caps retail leverage at 1:30, requires negative balance protection, and obliges the broker to hold client money in a separate trust account.

The FCA caps retail leverage at 1:30, mandates negative balance protection, and covers eligible clients under the Financial Services Compensation Scheme.

CySEC licences passport across the EU and follow the 1:30 retail leverage cap, with the Investor Compensation Fund covering eligible claims.

Client money is held separately from the firm's own money, at J.P. Morgan, UBS, Citi, Barclays and other applicable custodian banks. That separation is what makes your balance recoverable if the company fails, rather than part of the pool its creditors divide up.

Negative balance protection applies, so a losing position cannot take the account below zero and leave you owing the broker money.

Covered by FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible EU clients; SIPC up to $500,000 including $250,000 cash for eligible US securities clients, which pays eligible clients up to its limit if the firm fails owing client money.

• Financial Conduct Authority (FCA), United Kingdom: tier 1
• Cyprus Securities and Exchange Commission (CySEC), Cyprus: tier 1
• Australian Securities and Investments Commission (ASIC), Australia: tier 1
• Monetary Authority of Singapore (MAS), Singapore: tier 1
• Securities and Exchange Commission and FINRA (SEC/FINRA), United States: tier 1

Trading Costs

A quoted spread from 0.2 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

eToro lists a minimum deposit of $50. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Spreads and Commissions

Compare the round-trip cost at your size with the profit and loss calculator. The lesson on spreads, commissions and financing explains how to add them up.

Account Types

eToro runs 5 account types. More choice is not automatically better: the tightest headline spread almost always sits on the account that also charges a commission, so the comparison that matters is the two added together.

Base currencies: USD, AUD, GBP, EUR, DKK. Holding the account in the currency you fund it with avoids a conversion charge on every deposit and withdrawal - a cost that never shows up in a spread comparison.

The smallest position is $10. For anyone starting carefully this matters more than the minimum deposit, because it sets the least you can put at risk on a single trade.

A demo account is available. Worth using for the platform rather than the results: fills are simulated, so it tells you how the software behaves but very little about execution.

Minimum Deposit

The minimum deposit at eToro is $50. The sensible starting deposit is the one that lets you size positions at one percent risk with a realistic stop, which the position size calculator works out.

Trading Platforms

eToro offers eToro Web Platform, eToro mobile app. A proprietary platform can be excellent, but it means your setup does not transfer if you later change broker.

Markets

Leverage is capped at 1:30 retail, which is the retail limit under tier-one regulation. It is a protection rather than a restriction: it caps how quickly a position can move against your balance.

eToro covers forex, stocks, etfs, indices, commodities, cryptocurrencies, futures. A wider range matters less than depth in the instruments you actually trade.

Funding options: credit/debit card, bank transfer, paypal, skrill, neteller, etoro money and regional methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Forex Pairs

eToro offers 60+ currency pairs. Other markets on offer: forex, stocks, etfs, indices, commodities, cryptocurrencies, futures.

Leverage

Maximum leverage is 1:30 retail. Retail leverage is capped at 1:30 on major pairs under FCA, ESMA and ASIC rules and higher leverage is available only from entities outside those regulators. The lesson on leverage explains why the number you can use is rarely the number you should.

Execution

Deposits and Withdrawals

Withdrawals are stated at Typically up to 10 business days depending on method, against Instant for cards and most e-wallets; bank transfers generally 4-7 business days for deposits. A gap between the two is normal and not in itself a warning sign - identity checks are a legal obligation, not obstruction. What is worth noticing is a withdrawal that keeps meeting new conditions after those checks are done.

Withdrawal routes: bank transfer, cards, paypal, etoro money and supported payment methods. Money is usually returned by the route it arrived on, so the deposit method you pick is in effect the withdrawal method you are picking too.

The minimum withdrawal is $30 from USD account; no minimum from eligible local-currency accounts - relevant if you intend to fund the account lightly, since it sets the smallest amount you can take out at a time.

Customer Support

Support runs 24/5. Round-the-clock cover matters more than it sounds: a position held over a weekend or through an unexpected halt is exactly when you need somebody to answer.

Reachable by live chat, support ticket/email. A published telephone number is the one channel that is hard to fake and hard to ignore, so whether there is one says more than the number of channels does.

Languages: 20+ languages. Being able to raise a complaint in your own language is worth more than it appears, because complaints are where precision matters most.

Education: extensive: etoro academy, courses, guides, videos, tutorials and webinars. Treat broker-published material as an introduction rather than as advice - it is produced by a firm whose revenue rises when you trade more.

Education and Research

eToro offers Extensive: eToro Academy, courses, guides, videos, tutorials and webinars. Research: Extensive: market analysis, news, analyst research, sentiment, TipRanks and community data. Whatever a broker provides, the courses on this site cover the fundamentals independently of any broker.

Demo Account

eToro offers a free demo account (unlimited with $100,000 virtual funds). Use it to test the platform, the spreads at your trading hours and the order types you rely on before depositing; the lesson on demo and live accounts explains what a demo can and cannot tell you.

Key Strengths

• Social trading, user-friendly platform

Important Considerations

• High spreads on some pairs

Who Is eToro Suitable For?

eToro suits traders who want tier-one regulatory protection, active traders who want raw spreads, and beginners with small starting deposits. The considerations section below lists what to check first.

Compare eToro

• eToro vs Plus500

Similar Brokers

IC Markets 9.5/10

Tier-one regulated ASIC, CySEC, Seychelles FSA, Bahamas SCB, Kenya CMA

ReviewVisit IC Markets (opens in a new tab)

AvaTrade 9.2/10

Tier-one regulated Central Bank of Ireland, ASIC, BVI FSC, FSCA, Japan FSA, FFAJ, ADGM FSRA, CySEC, CMA Kenya, Israel Securities Authority

ReviewVisit AvaTrade (opens in a new tab)

FxPro 9.1/10

Tier-one regulated FCA, CySEC, FSCA, SCB Bahamas, Seychelles FSA

ReviewVisit FxPro (opens in a new tab)

XM 9.1/10

Tier-one regulated Belize FSC, CySEC, ASIC, DFSA, FSCA

ReviewVisit XM (opens in a new tab)

Frequently Asked Questions

Trading forex and CFDs carries a high risk of losing money. Figures are the broker's published terms at the last check and can change. We may earn a commission when you open an account through a link. Affiliate disclosure.