Etoro Review

Etoro Review

What Does the eToro Do?

EToro is a social trading and investment platform founded by three entrepreneurs seeking to disrupt the trading world. The company aims to make trading accessible to anyone worldwide and reduce reliance on traditional financial institutions.

The brokerage firm boasts of a clientele base of more than 5 million people and still growing. It stands out partly because it offers over 1,900 instruments that traders can trade in the capital markets. Besides, it comes with an easy-to-use copy-trading platform that traders can use to copy professional's trades and learn from them.

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Is etoro Legitimate

EToro is a legitimate and safe social copy-trading and cryptocurrency trading brokerage firm. The brokerage firm is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction. Conversely, it is a reliable broker for forex, cryptocurrencies, and CFDs trading

The brokerage firm is regulated in the U.K by the Financial Conduct Authority. It is also regulated in Australia by the Australian Securities & Investment Commission and Cyprus by the Cyprus Securities and Exchange Commission.

What Products Does eToro Offer

As a juggernaut in the brokerage business, eToro offers a wide array of investment instruments that investors can use to diversify their investment portfolio in the capital markets. In addition to offering 47 currency pairs, it also provides access to 1,933 Contract for Difference products made up of stocks, commodities, metals, and cryptocurrencies.

What Type of Accounts is available at eToro?

As a high profile capital market broker, eToro offers a variety of trading accounts curated to address the needs of professionals and beginners.

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A demo account is available to traders who wish to test the water before putting real cash. The eToro demo account is the place to start if you wish to learn more about trading. The account comes with virtual money that allows traders to trade the actual market risk-free all in the effort of polishing trading strategies.

EToro offers an account that adheres to the Sharia law, therefore, allowing Muslims to participate in the capital markets while adhering to their religious beliefs.

The eToro VIP club comes with a range of benefits ideal for traders looking to invest a substantial amount of money. Some of the perks include an account manager, private trading signals, discounted withdrawal fees, and exclusive assets.

The VIP membership comes with five tiers ranging from gold to diamonds for traders. In this case, traders must maintain balances of between $5k and $250k

A corporate account is also on offer for people who wish to open a trading account and invest in the capital markets.

What Commission and Fees does eToro Charge

EToro charges some of the lowest fees and commissions to trade securities in the capital markets. As a market maker, it boasts of a minimum fixed spread of three pips on a currency pair, such as the EUR/USD. The fees charged vary depending on the instrument one is trading.

Currency spreads range from 1-pip depending on the currency, while Commodities spreads start from 2 pips. Indices spread, on the other hand, start from 100 pips while Stocks and ETFs come with spreads of 0.09% and 0.75% for cryptocurrencies.

The brokerage firm does not charge any fees on deposits. However, it does charge a low fixed fee of $5 used to cover some underlying expenses.

What Trading Platform Does eToro Support

eToro allows traders to access the capital markets using its proprietary trading platform, eToro, to address the needs of modern-day trading. The platform merges self-directed trading and copies trading under one roof.

Ease of use is what makes eToro stand out as compared to other trading platforms in the market. Ideal for beginners and experienced traders, the platform makes it easier to carry out basic operations and do things quickly.

The platform delivers all the necessary tools needed to carry out an in-depth technical and fundamental analysis. The tools include indicators as well as comprehensive market data across the range of products.

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Copy Portfolio is an innovative tool to offer that pools trader into a single fund, allowing them to see and copy other traders' trades. The innovative tool is designed to bridge the gap for investors who wish to use eToro on a passive basis.

Mobile Trading

EToro offers free mobile trading apps that allow traders to stay in touch with the market as well as their investment portfolios while on the go. Android and iOS apps make it easy to trade and monitor positions while on the go.

The mobile app makes it easy to deal with real-time prices as well as check what has been traded and open news as well as the customer service section. With the mobile app, traders can also access copy trading feature as well as set watch lists.

The mobile apps adhere to the best industry practices when it comes to security, thus ensuring traders' privacy and capital is protected all the time.

Does eToro Support Crypto Trading

In addition to normal securities traded in the capital markets, eToro has made it possible for traders to access and trade a wide array of cryptocurrency pairs. The broker supports close to 93 CFD pairs. Likewise, traders can find crypto trading ideas and copy other individual trader’s trades. Also, it does offer a multi-crypto on-chain wallet that offers high-level security with multi-signature sign in

Does eToro Offer Customer Service

Yes. EToro has a customer service department that works round the clock, 24 hours a day, five days a week to address any issues that clients might have. The team can be reached via mail or by calling telephone numbers available on the broker’s official site.

In addition, eToro does offer a live online chat for existing clients ideal for addressing issues on deposits, withdrawals, as well as account setups.

What Options are available for deposits and withdrawals?

EToro allows investors to fund and withdraw money from their accounts using a wide array of options. For starters, it supports credit cards powered by MasterCard or Visa. It also offers support to eWallet such as China Union Pay, Neteller, PayPal, Skrill, and Yandex.

EToro also supports Bank wire transfers for both withdrawals and deposits.

Why Trade With eToro

EToro is an ideal broker for any person regardless of trading skills or experience, looking to venture into the capital markets. Support for social trading makes it possible for beginners to gain insight on how to go about trading.

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The broker offers robust charting tools, ideal for carrying out in-depth technical analysis. Besides, it charges some of the lowest fees for trading as well as fees when it comes to withdrawals. An impressive catalog is also available for traders looking to venture into the cryptocurrency world.

Conclusion

eToro is a leader in the global fintech revolution, connecting millions of traders worldwide with various investment tools. As a world-leading social trading network, the broker continues to bridge the gap between independent traders and the global financial market.

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