Why this Etoro review? Because your choice of trading platform can greatly impact your trading journey, whether it will be a profitable one or one full that is full of losses!!.
and then, it is all about making money, isn’t it? I will explain how to make money on Etoro as well.
You know, I have been trading forex for over 13 years and being honest, I wasn’t a user of the Etoro platform until now. I just wanted to test things out and see the possibilities.
Therefore, in this Etoro review, I will show you my findings, whether this platform is safe for trading and if it’s the right choice for your forex, crypto, oil and stock trading investment.
I will also reveal how to make money trading with Etoro.
|Free Bonus||$50 Bonus|
|Spread||eToro Spreads Start From 1 pip to 50 pips, But Depends on Account Type – See More Details Below|
|Deposit Methods||Credit/Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, Bank Transfer|
|Withdrawal Methods||Skrill, Neteller, Fasapay, Visa, MasterCard, Bitcoin|
Etoro Review – All the Important Things and How to Make Money
I found that this broker champions itself as a social trading platform where you can copy other traders and win without having any knowledge of trading.
The question is; should you use Etoro? is it safe and regulated, is Etoro Beginner friendly, is it Robust enough for advanced traders and, can one guarantee profits by trading on Etoro?
Like I always say; brokers are called brokers because they really believe you are gonna be a broker sooner or later if you decide
Although your choice of the trading platform can greatly impart your trading success. Other things to consider include your starting capital, technical know-how, and strategy as the first rule of investment is an investigation. I would advise you to check this article where I explained how to invest in forex trading. (You really should check it out as the advice in there can be applied to crypto, stock, ETFs and so on.)
Here are the questions I answered in that article:
- Do You Need to learn Forex to be Able to Invest?
- How much should you invest in forex?
- How much ROI should you expect from your investment?
- 4 Different Ways to Invest in Forex Trading?
- How Not to lose your money or get scammed.
You should check it out – how to invest in forex trading
Let’s get back to the Etoro review. is Etoro a trustworthy broker?
Is Etoro Legit? Is Etoro Safe?
Yes, Etoro is legit and safe. You can put your money in there as I was able to do so without hassles as well. Why so sure?
Etoro was founded in 2007. the same year I started trading forex. That is over 13 years of service.
I also dug deeper to be sure that this broker is regulated by the right authorities. and behold, Etoro is regulated by the following bodies:
- eToro (Europe) Ltd., is a Financial Services Company authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under license # 109/10.
- eToro (UK) Ltd, is a Financial Services Company authorised and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.
- eToro AUS Capital Limited is certified by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139
- eToro (Seychelles) Ltd. is licenced by the Financial Services Authority Seychelles (“FSAS”) to provide broker-dealer services under the Securities Act 2007 License #SD076
You can observe that Etoro is regulated in four different Regions, the UK, Europe, Australia and Seychelles. That obviously reduces the risk of scams by the platform.
It’s no coincidence that Etoro has over 20 million users and is the official trading partner of several sporting institutions like Arsenal football club.
But safety is subjective, all this information does not mean that you will be successful using Etoro. It comes down to the traders you copy on Etoro or your own trading game.
Etoro Review – Features and What They Mean For You
1. What are EToro Fees
Answer: Etoro spread varies depending on the instrument you are trading. For example, there are no fees on stocks and ETFs while the Etoro spread fee on currencies goes as low as 1 pip.
Below is a summary of all Etoro Fees and Spread
1.1 What are EToro Fees For Stocks and ETFs?
eToro does not charge any fees or commissions when you buy and trade stock on the eToro platform. You can Buy in bulk or just a fraction, from as little as $10.
1.2 What is Etoro Crypto Fee?
Etoro crypto fee is 1% of the amount of crypto you buy or 1% of the amount of crypto you sell. You know when you are trading crypto, you are either gaining the ownership of the amount of crypto you are buying or losing the ownership when selling. For example, if you buy $100 worth of BTC, eToro crypto at 1% equals $1. The same goes for when you are selling $100 worth of BTC, eToro crypto fee will be $1 as well.
1.3 What is Etoro Spread?
Spread is a common way in which brokers and trading platforms charge fees and commissions. It’s calculated as the difference between the buy price and the selling price.
For Etoro, the spread is used as a commission on CFDs, Currency trading, Indices and Commodities.
Etoro spread for currencies goes as low as 1 pip for major currency pairs.
For Commodities, the spread goes as low as 2pips in the case of Copper, 5 pips for Oil, 45Pips for Gold and as high as 20000 Pips For Palladium.
For Indices, the Etoro spread goes as low as 0.75 Points For SPX500 and as high as 7 Points For ESP35.
Expert Opinions on Etoro Fees and Spreads
2. Etoro Leverage
When I create content like this one, I like to assume that every reader is a beginner. That is the reason I love to break things down. Therefore, I will do a short explanation of what leverage is.
What is leverage?: leverage” is the ability to control a large sum of money while using little or no capital of your own, while completely borrowing the rest. Say you have $100, and your broker has a leverage of 1:100. This means you can trade as if you had $10,000 and you can lose as if you had $10,000. It is a two-way thing.
Leverage does not change the number of your own funds you invest, but the trade’s exposure and therefore the number of units in the trade.
What is Etoro Levarage?
Answer: Etoro leverage varies depending on the trading instrument and customer location. See all Etoro Leverages Below:
2.1 For all retail clients of eToro (Europe) Ltd, eToro (UK) Ltd, and eToro AUS Capital Limited:
- x30 for major currency pairs (such as EUR/USD).
- x20 for non-major currency pairs (such as EUR/NZD), Gold, and major indices.
- x10 for commodities other than Gold and non-major equity indices.
- x5 for CFD stocks and ETFs.
- x2 for CFD crypto-assets.
2.2 For clients of eToro (Seychelles) Ltd:
- x400 for major currency pairs (such as EUR/USD).
- x100 for Gold and other commodities, and major indices.
- x50 for non-major currency pairs.
- x10 for non-major indices, CFD stocks and ETFs.
- x5 for CFD crypto-assets.
Expert Opinion on EToros Leverage
Etoro Minimum Deposit
The minimum deposit for customers in US and Uk is $10, while countries like Australia, Austria and many other European countries get a minimum deposit of $50. Other countries like those in Africa get a $200 minimum deposit.
For the Cayman Islands, French Polynesia, Gibraltar, Iceland, Isle Of Man, Jersey Island, Kuwait, Lithuania, and Reunion Island, the minimum deposit is $1000.
EToro minimum deposit for Israeli customers starts from $10,000.
How To Make Money With eToro – Copy Successful Traders
The goal is to make money. and that is what I am here for, we all want to make money from trading. It’s this kind of information I usually share on this blog.
Therefore, apart from this Etoro article, make sure you join my mailing list and also try some of our other forex trading robots.
Now, How to make money with Etoro, it’s easy,
- just create an account,
- copy a successful trader and
- see your money grow.
The downside is, that if the traders whose trade you are copying experience some losses, then you surely would experience losses too. However, you can still minimise your losses by putting some risk management settings in place.
Here is my advice: Do not put your eggs in one basket, you can put some of your capital into the EToro copy trading platform, while you put some other part on other trading platforms and use some of our trading tools on the blog.
Most people agree that Etoro is best for stocks and ETFs and not for crypto cos of the fees.
Step 1: Make Money With EToro – Open and Verify Your Account and Get a $50 bonus
Etoro has two account types:
- The Retail Account Type For Most of Us Who Wants To Copy Succesful Trades on The Platform
- Professional Account Type For Advanced Traders Like Me, Who wants other traders to copy their trades.
Open, the account and get verified with a valid identity card.
Note that due to regulatory requirements and business decisions based on risk management considerations, we can no longer offer the eToro investment platform to new users in the following countries and territories: Check if your country is clear here.
Step 2: How to Make Money With Etoro – Look For A Profitable Trader To Copy on the Platform.
Yeah, easy thing to do, someone is already doing good numbers in terms of ROI, and then we copy that person easily on the Etoro Copy Trading Platform.
and that is why EToro is called a social trading platform in the first place
Here is a video that simplifies the process
- Go to the copy trader interface
- filter to find successful traders
- Plug and Play – Copy them.
I am working on a more in-depth video pretty much soon, but for now, this will help
Step 3: Wait and See Your Money Grow – Easy Peasy
Yeah, you then have to keep your fingers crossed. Your Money is on the way.
Your returns are directly proportional to the results of the trader whose trade you are copying.
Just give it time, works many times.
and, I will surely update this page with some more examples in the coming months
What you should do is try it out, follow the video tutorial and update your finding down below this article.
Etoro Review – Other Interesting Products From eToro
Etoro Trading Academy
I must say that Etoro has one of the most beginner-friendly trading courses on its platform. All the information you need as regards Investing, crypto, stocks, currency trading and many more can be found on the eToro trading academy page.
Most of the information comes from videos, podcasts, webinars and articles.
Etoro Trading Instruments
Below is a list of all trading instruments available on the eToro platform:
Left to me, or is one of the best if not the best when it comes to copy trading. But clearly, it falls short ins some areas. You can’t use trading robots, the leverages are low and you are not allowed to use trading platforms like MT4 or MT5.
The trading brokers below are very good alternatives to EToro
Summary – Etoro Review
As of 2021, eToro remains my top choice for social copy trading and stock trading. If you’re a retail trader looking to crowdsource investment ideas using the power of copy trading or a highly experienced active trader, you will love eToro.
eToro’s user-friendly mobile platform is also an added benefit for less-experienced traders who need help. However, I do not recommend eToro for active or high-volume traders due to the higher spreads and small maximum trade sizes.
If you enjoyed this eToro review, please leave a comment below.