|Headquarters||Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus 4046|
|Support Types||telephone , fax , email , online help|
|Languages||22 languages supported|
|Trading Platform||web trading platform | mobile platform|
|Minimum 1st Deposit||$200|
|Minimum Account Size||$200|
|Minimum Trade Amount||$25|
|Maximum Trade Amount||each instrument has a maximum|
|Bonus||Reffer a friend|
|Free Demo Account||Open Demo|
|Regulation||Regulated by FCA, CySEC, and ASIC|
|Deposit Methods||bank transfer , credit/debit card , PayPal , Skrill , Webmoney , Neteller|
|Withdrawal Methods||bank transfer , credit/debit card , PayPal , Skrill , Webmoney , Neteller|
|Number of Assets||1300+|
|Types of Assets||FX, indices, stocks, ETFs, commodities, cryptocurrencies|
|US Traders Allowed|
Established in 2007, eToro is a popular fintech startup. Well-known as an Israeli social trading broker, the company serves customers from the UK, Australia, and most of the other regions in the world. It is a multi-asset trading platform which offers primarily CFDs, but clients can also invest in stocks and cryptocurrency assets.
eToro relies solely on its Web Trading Platform, compatible with most of the popular web browser as well as mobile. Available in English, German, Spanish, Italian, French, Russian, Polish, Greek, Chinese, and Arabic, it is one of the few platforms that’s available in so many different languages. The company managed to combine design with functionality, even though one negative aspect is that it cannot be customized, given that panels are fixed.
The platform is secure, given that it has an optional two-step authentication system. Alerts and notifications are also available, the platform letting you know when an asset had reached a particular target. It also sends notifications when an order had been filled. There are portfolios and fee reports, as well, with assets lined up or a pie chart of your exposure.
Speaking of the mobile platform, it is user-friendly and has two-step login, being available both for iOS and Android devices. Unfortunately, there is no desktop platform available at eToro, which may be an issue for traders who rely on Expert Advisors.
One of the main reasons why eToro managed to gain its reputation is represented by the FCA regulation of the UK branch. There’s also an Australian office regulated by ASIC and all of the other customers fall under the jurisdiction of the Cyprus entity, regulated by CySEC. Overall, we can say that the company is well-regulated and the big number of clients confirm that it offers reliable services.
Things are simple when it comes to account types, as there’s only one live account available for all customers. Excluding European clients, which may have access to a professional account thanks to the latest CFD regulation, all eToro clients have access to the same account, no matter their deposit. With it, the can access currency pairs, stock indices, stocks CFDs, ETFs, commodities, and cryptocurrencies. Another downside of the eToro account is that the only account currency available is the US dollar. Any deposits in other currencies will be exchanged into USD at the spot rate.
The most popular eToro promotion is “Invite a Friend”, which will get you $50 referral bonus for each successful referral. This is a company that wants to simulate social trading and this is one of the ways it has become popular.
Pros and Cons
- Access to a wide range of trading instruments.
- A regulated broker with some of the most popular financial agencies.
- If you trade stocks or ETFs with zero leverage, you’ll own the underlying instrument, which will be like trading real assets.
- No desktop platform available.
- Only one type of real account.
- USD is the only account currency available.
Since it encourages social trading, eToro has a Trading Academy, as well as constantly holding live webinars. Clients can find a lot of information about trading on the broker’s website.Visit Broker