eToro

eToro Review

Smart investors need to understand where and how they invest, particularly when it comes to online platforms. Our review of eToro Group, ltd. works to ensure you're given the best information prior to making a first trade.

Company Overview

eToro Group, ltd. is one of the largest international online investment firms in the world, serving a world wide consumer base. The firm was founded less than ten years ago in 2006, and it's based in Limassol, Cyprus. eToro Group creates and markets financial trading platforms, enabling users to trade various financial assets. But the current leadership continues to include Jonathan Assia, founder and current Chief Executive Office and Director of the firm.
 

Account Types

Accounts are set-up according to initial deposit amounts and limits within your account.

Five different levels bring different access to customer service:

You can start with a 'Practice Account.' It allows time to become fluent in the software and user-ability of the platform with play money. When you're ready, you can trade at one of these levels:

Bronze: For less than $1,000 deposited
Silver
Gold
VIP: For more than $20,000 deposited

You're able to fund your account at the basic level for as little as $50.00, allowing anyone who wants to the ability to learn how to trade seriously. Not bad.
 

Commissions and Spreads

Commissions and spreads with eToro are straightforward and depend on the type of deposit. For currency instruments, spreads run between three to seven pips. Commodities run between 5 to 90 pips. Index stocks have a spread between 100 to 1,000 pips. Additionally, traders should factor in transaction fees; these can fall at about 0.1% per one cent of stock fees and 1% of every cent for Bitcoin fees.

We'd say you absolutely need to factor in and weigh currency conversion values against possible gains. Most Forex trading sites charge a fee to start, but eToro does not which makes them a popular platform.
 

Trading Software

eToro was founded by software developers. They've taken the idea of 'Open Book' financial trading and folded social media interaction and communication into it. Copying top traders and asking for tips and recommendations is encouraged here. Downloading the software is not an option as it's positioned entirely online. But the responsiveness is key and fast. Moving money back to accounts is simple and immediate.

 

Deposits and Withdrawals

eToro does include a lot of fees. Stay attentive to this when factoring in your gain and particularly in your withdrawal schedule. They charge about a 5% withdrawal fee and a minimum of $20.00 to do so. They make it easy to start, though, accepting almost any kind of deposit, from credit card, bank transfer and Bitcoin.

Customer Support

eToro has a well-rounded help center that's easy to navigate. Almost any question can be answered there and it's intuitive. Customer service really comes into play with this trading platform. First, they don't charge a fee to start and make it extremely easy to use. But the social aspect of the site is the biggest draw. Users enjoy expert accessibility and a high level of trading visibility on this platform. Not to mention there's a 24/7 support option for technical assistance.
 

Regulations and Safety

The platform uses current SSL encrypted technology ensuring deposits and withdrawals are safe. It also is not affected by the stability of Cyprus because all deposits go into non-Cypriot institutions.

Leverage

eToro has taken care in its trading philosophy to abstain from leverage trading of stock. However, it does provide leveraging of other instruments with a 1:2 to 1:400 ratio.

Bonus and Promotion Codes

eToro offer a number of promotional codes for both premium and standard accounts. For standard accounts the current bonus codes for verified accounts are as follows:

DepositBonus AmountPromotion Code
$300 - $999100 Creditsstart100
$1,000 - $2,499300 Creditsstart300
$2,500 - $5,0001000 Creditsstart1000
$5,000 + Contact eToro for details 

All you need to do to qualify for the bonus is sign up and verify your account. You'll be sent an email to confirm you are verified. Simply log into your account and enter the promotional code above to claim your bonus!

Bonus codes for Premium Accounts

etoro's Premium or VIP accounts are for traders who either deposit $20,000 or have $20,000 total funds in their account at the end of a trading day. Members of eToro's Popular Investor program who have reached Champion or Elite level also qualify. As well as many other great benefits, eToro provide special deposit bonuses for these privileged accounts:

Deposits of $2,500 - $19,999: 10% eToro Credit Bonus

Deposits of $25,000 - $64,999: 15% eToro Credit Bonus

Deposits of $65,000+ : Contact eToro for a unique offer

Compared to other sites, eToro's social platform and Open Book visibility is an attractive option for traders.You can make money on eToro if you use the right strategies. We'd say be careful of the fees, even though it stacks up as the least expensive platform to get started on, it can be pricey if you're not strategic about when you move money and how. Otherwise, it's one of the better Forex trading sites. 
 


Key Features

Regulation: NFA, CySEC, ASIC, CFTC, MiFID, FCA
Min Deposit: $200
Leverage: 400:1
Platform: eToro webTrader, etoro Openbook, eToro Mobile Trader
First Deposit Bonus: Yes
Other Bonuses: Yes

Company Information
Broker's Name
eToro
Headquartered in
Limassol, Cyprus
Year Founded
2007
Regulating Authority
NFA, CySEC, ASIC, CFTC, MiFID, FCA
US Clients Accepted
No
Telephone Number
357 2 5030234
Fax Number
44 866 350 881
E-Mail Address
support@etoro.com
Account Options
Type of Broker
CFD
Commission
Yes
Mini Account
VIP Account
Segregated Account
Islamic Account (Swap Free)
Yes
Demo Account
Yes
Institutional Accounts
Managed Accounts
Yes
Maximum Leverage
400:1
Minimum Deposit
$200
Deposit Options
Credit Card, Debit Card, Wire Transfer, Moneybookers, Paypal, Webmoney, Moneygram, Westerrn Union, Neteller
Withdrawal Options
Credit Card, Wire Transfer, Moneybookers, Paypal, Webmoney, Neteller, Moneygram, Westerrn Union
More Instruments
Metals
Yes
Oil
Yes
Gold
Yes
Indices
Yes
Stocks
Yes
Commodities
Yes
ETFs
No
CFDs
Yes
Trading Platform
Platform Type
eToro webTrader, etoro Openbook, eToro Mobile Trader
Platform Languages
English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, Swedish, Finnish,
OS Compatibility
Mac, Microsoft Windows, Mobile, Web, iPhone, iPad
Streaming News Feed
Yes
Charting Package
Yes
Trading Signals
No
Automated Trading
Yes
Trade From Charts
Yes
Market Commentary
Yes
E-mail Alerts
Yes
Mobile Alerts
Yes
Scalping
No
Hedging
Yes
Trailing Stops
No
Guaranteed Stop Loss
Guaranteed Limit Orders
Yes
Guaranteed Fills
Yes
Interest on Margin
One-Click Execution
No
OCO Orders
Yes
Mobile Trading
Yes
Web-Based Trading
Yes
Customer Service
Customer Support Languages
English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, Swedish, Finnish, Multi-lingual
Customer Service Hours
24/5 Mon-Fri.
Place Trades Over the Phone?
No
Bonuses & Rewards
No Deposit Bonus
No
Bonus for First Deposit
Yes
Is the Bonus Based on the Volume of the Transaction?
Yes
Other Bonuses
Yes


Top Bonus Info: 
Up to $1,000 Deposit Bonus, 15% Deposit Bonus For Premium Accounts

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