eToro Review 2024

Claire Maumo

Claire Maumo is our financial writer and leads our editorial team in delivering engaging, informative, and easy-to-understand content. With a background in journalism and finance and a passion for financial education, she ensures our content is well-received by every trader.

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Article was updated: October 4, 2024

Estimated reading time: 3 minutes

It’s been nearly two decades since eToro was born, and it continues to surprise millions of global traders with its cutting-edge features and technology. Renowned primarily for its social trading features, this broker stands tall among many. It has earned excellent user testimonials for being user-friendly and hosting quality resources. 

eToro is an award-winning trading and investing platform that is licensed by numerous global authorities. We tested it to understand its features. Our goal was to share an honest review that will help you decide whether it fits your trading or investment needs. 

Our Opinion about eToro

eToro has a £100,000 virtually-funded demo account. Therefore, we signed up for trading/investing accounts at it to test its performance and understand its offerings. Various features stood out, including a user-friendly platform, commission-free stock trading trades, social and copy trading, a vast array of asset classes, and more. 

However, we also discovered a few pitfalls, like high trading fees, withdrawal charges, and more. Here is a summary of our findings.

eToro

✔ User-friendly trading platform
✔ Over 6000 trading instruments

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{etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider.

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Fees

eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.

Trading and Non-Trading Charges	Details
Account Opening	$0
Management Fee	$0
From $50, depending on your jurisdiction	0.6
Commission	From 0% on stocks and ETF trading
Spreads	From 1 pip on major currency pairs
Deposits and Withdrawals	$5 withdrawal
Inactivity	$10 monthly
Currency Conversion	1.5% or 3.0%, depending on the currency or payment method
Overnight Funding	Varies based on global market conditions
Copy Trading	Free

Available Assets

We discovered that eToro allows users to trade and invest in global markets. You can go long or short in a single portfolio. Overall, there are more than 6,000 instruments, which are spread across multiple classes. Investment options are stocks, which allow you to buy and take ownership of global stocks across various sectors. Fractional share purchases are also supported at eToro. This will enable you to fill your portfolio with leading stocks from global exchanges. ETFs are also other investment assets at eToro.

When it comes to CFD trading, this broker offers it with flexible leverage limits for both new and professional traders. From our experience, retail traders get up to 1:30 leverage limit and professionals up to 1:400. With CFD assets, you can go long or short and speculate on both rising and falling asset prices.

That being said, here is the number of tradable assets available at eToro.

Asset Class	Number Offered
Forex	55+ currency pairs
Shares	5558+
Indices	21+
Commodities	35+
Cryptocurrencies	100+
ETFs	680+

Note that eToro also supports options trading but is limited to US clients only. You can also explore diverse non-fungible tokens (NFTs) via its Delta platform.

Disclaimer: CFD trading is risky and complex, thus not suitable for all types of traders. This is primarily due to the application of leverage attached, which can give you good profits as well as leave you with massive losses. So far, over 76% lose their money in CFD trading. That is why it is important to conduct extensive research and understand CFD trading risks before you invest your money in it.

Security

From our exploration of this broker, it is evident that it takes the security of its users very seriously. The broker web and app are not only highly encrypted but also have additional security measures like passcodes, face IDs, and more to prevent unauthorized access. Unfortunately, eToro’s shares are not listed on any stock exchange, and it has no banking license. 

Besides being highly encrypted, eToro is licensed and regulated by tier-one global authorities. It operates several legal entities, meaning it serves clients based on their jurisdiction. It also offers investor protection, but the amount will depend on the entity you belong to. For instance, should eToro UK go bust, its UK clients are eligible for compensation of up to £85,000. This is under the Financial Services Compensation Scheme (FSCS). You can confirm your region’s protection amount at its official website.

That being said, here are the top authorities overseeing eToro’s activities to global traders and investors. 

Conclusion

eToro is a highly reputable and regulated broker that provides streamlined trading and investing services on both desktop and mobile devices. It is perfect for all types of traders as we have discovered numerous features for all. However, it is crucial to confirm whether it suits your trading/investing requirements before committing. This can only be possible by testing it via its demo account. You should also review previous and current user testimonials on Google Play, the App Store, and Trustpilot. This will ensure you clear all doubts and kickstart your ventures on a broker that supports users with the best trading tools. 

Claire Maumo

Claire Maumo has experience in investment banking, strategic consultancy, and journalism. She has a Bachelor’s degree in Business Management and a Master’s in finance. She has a knack for making complex concepts easy to understand. Her primary focus is on crypto, blockchain, and financial instruments. Follow her for expert insights on trading and investment.

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