The online broker eToro is famous for their social trading platform: the eToro CopyTrader. In recent years, many online brokers have begun offering social trading as an add-on to their standard offering, but for eToro the social trading is front and centre. Unsurprisingly, eToro has become very popular among traders who wish to engage in social trading. The platform comes with a rich assortment of tools that make social trading very easy.
In order to get started with real-money trading at eToro, a trader must deposit at least 200 USD. There is an exception for traders in the United States; they only need to deposit 50 USD.
Examples of what you can get exposure to at eToro:
At eToro, you can follow other traders and copy their trades in your own portfolio. The eToro trading platform makes this very easy.
If you want to, you can allow other traders to follow you at eToro and copy your trades in their own portfolios.
If you qualify as a Popular Investor and get enough copy trades, eToro will reward you with various perks, such as money or spread rebates.
In order to qualify, you must fulfil certain requirements, including depositing at least 1,000 USD into your eToro account and recruiting one follower that follows you for at least two months with at least 500 USD in equity or finance.
CopyPortfolios is a feature that makes it easy for traders to copy an entire portfolio.
With your eToro account, you get access to the eToro trading platform. It is called eToro CopyTrader and was created specifically for eToro. You can not use your eToro account with third-party trading platforms such as MetaTrader4 or MetaTrader5.
Mobile eToro trading apps are available for iOS and Android, and they work well on both mobile phones and tablets. You get access to trading, social trading, customer service, news, and much more.
Downloading and installing them is free of charge.
The eToro trading platform is available 24/7 but exactly what you can trade with will vary depending on the markets around the world. Stocks listed on the New York Stock Exchange can be traded during NYSE trading hours, and so on. Since eToro offer trading and exposure to such a great variety of assets, there is usually plenty of things to do on the platform. For exchange-listed stocks, the new trading week starts when it is Monday morning in eastern Asia and Oceania and then continues along the time zones.
For forex and cryptocurrencies, trading is available around the clock at eToro.
Only one account type is available for real-money trading at eToro: the eToro Standard Account. You don´t need to worry about picking the optimal account for your needs, since this is the only real-money account available.
For play-money trading, you can open a free eToro Demo Account. It is a great way to learn about eToro and social trading before deciding if you want to make a first deposit. You can also use the play-money account to test out various trading strategies without risking any real money.
Leveraged trading is available at eToro.
Within the European Union, restrictions apply for non-professional traders and the highest possible leverage is 1:30. For some underlying assets, the maximum leverage is even lower.
With an eToro account, you get access to plenty of nifty tools and trading data for technical analysis and research. Deep historic trading data is available.
The online broker eToro has developed a bespoke on-chain wallet for cryptocurrencies. You can use it to store a variety of cryptocurrencies and access them through multi-signature sign-in (for improved safety). You can see your block chain transactions without exposing your private key.
The eToro cryptocurrency wallet is for mobile devices (smart phones and tablets). The iOS version is available in the Apple App Store, and you´ll find the Android version at Google Play.
At the time of writing, the eToro cryptocurrency supports Bitcoin, Bitcoin Cash, Ether (Ethereum) and Litecoin. It can be used to buy and sell cryptocurrencies, and also for exchanging traditional currency (e.g. USD) into cryptocurrency and vice versa.
The eToro customer service is only open during weekdays; it is closed during the weekends. During weekdays, it is open around the clock.
You can reach the eToro customer service by sending an e-mail through the e-mail form on the eToro site.
Examples of accepted transaction methods at eToro: VISA, MasterCard, Diners, WebMoney, Neteller, Skrill, PayPal, China UnionPay, Yandex, Bank Wire Transfer
The smallest first deposit is 200 USD outside the United States, and just 50 USD within the United States.
The smallest possible withdrawal is 50 USD, and a withdrawal request will typically be processed in three bank days.
The withdrawal fee charged by eToro is 5 USD, and you may also incur currency exchange costs.
Since eToro is based in Cyprus, the company must adhere to both Cypriotic law and the European Union regulations. It is regulated by the Cyprus Securities Exchange Commission (CySEC), license number 109/10.